Steppe Cement Ltd (SPPCF) Fair Value & Analysis
Basic Materials · US · Market cap $67.9M
Steppe Cement Ltd
SPPCF · US
Fair value as of: Jul 18, 2026
From 25 valuation models · updated 23 days ago
Fair value updated Jul 18, 2026, revised from $0.3800 to $0.2600 (−31.6%) since Jun 24, 2026.
A strong business, but screening 16% overvalued on our models.
What matters now
- A high-quality business (quality 75/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- Our model range runs from $0.1900 (bear) to $0.3200 (bull), base $0.2600. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 75/100 (high quality) with high evidence: the data supports the verdict.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
50‑month range $0.2236 – $0.3332 · fair‑value band $0.1900 – $0.3200 · the $0.3100 price screens above the $0.2600 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Steppe Cement Ltd (SPPCF) currently trades at $0.3100, while our model-based Fair Value estimate is $0.2600, implying the stock looks roughly 16.1% overvalued today. The Quality Score stands at 75/100 (high quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Steppe Cement Ltd generated revenue of $102M at a net margin of 3.3%. Revenue grew 19.9% year over year. It earns a return on equity of 5.8%. The balance sheet holds a net cash position of $8.8M. Fundamentals as of Jul 18, 2026
Our scenario range runs from $0.1900 (bear case) to $0.3200 (bull case); at $0.3100, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 7% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at -16%, SPPCF screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 25 models by family
Widest divergence: Dividend Discount ($0.5400) versus Earnings-Based ($0.1800). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 74 · Market factors (momentum, volatility) 65
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Steppe Cement Ltd., an investment holding company, produces and sells cement and clinkers in Kazakhstan. It is also involved in providing consultancy services; and transmission and distribution of electricity. The company was incorporated in 2004 and is based in Kuala Lumpur, Malaysia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Steppe Cement Ltd reported revenue of $102M in FY2025 versus $84.6M in FY2021, a compound +4.7%/yr. Reported net income was $3.3M in FY2025, compounding −33.6%/yr from FY2021.
SPPCF screens 16% overvalued. Compare with CRH plc →
Peer Group
Building Materials · 253 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Building Materials median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CRH plc CRH | $102.92 | $70.57 | -31% |
| UltraTech Cement Limited ULTRACEMCO | ₹11,711 | ₹4,719 | -60% |
| China Jushi Co 600176 | ¥54.52 | ¥13.95 | -74% |
| Grasim Industries Limited GRASIM | ₹3,073 | ₹1,245 | -59% |
| CEMEX, S.A. CEMEXCPO | 21.71 MXN | 15.42 MXN | -29% |
| Anhui Conch Cement Company 600585 | ¥16.99 | ¥26.14 | +54% |
| Ambuja Cements Limited AMBUJACEM | ₹435.25 | ₹227.96 | -48% |
| Shree Cement Limited SHREECEM | ₹26,930 | ₹8,215 | -69% |
| TCC Group 1101B | 43.70 TWD | 10.48 TWD | -76% |
| Taiwan Glass Ind. Corp 1802 | 53.30 TWD | 13.98 TWD | -74% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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