1. Qatar Stocks

  2. •

    Non-energy minerals

  3. •

    Construction materials
Qatar National Cement Co.

Qatar National Cement Co.

QQSE:QNCD
2.38
QAR
+0.09
(+3.75%)
1.81BMarket Cap
Jan 25Next Earn
Qatar National Cement Co.
QSE:QNCD
(Qatar Stock Exchange)

Recent

price

2.38

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
QAR
1.67
1.51
1.48
1.54
1.61
1.79
1.75
1.58
1.3
1.08
1.01
1.26
1.08
0.71
0.61
0.61
- -
Revenue per Share
- -
- -
0.65
0.66
0.64
0.71
0.73
0.5
0.53
0.26
0.23
0.34
0.35
0.31
0.24
0.15
- -
Basic EPS, GAAP
0.65
0.9
0.69
0.84
0.5
0.06
0.42
0.34
0.2
0.06
0.5
0.79
0.38
0.03
0.19
0.22
- -
Free Cash Flow per Basic Share
0.34
0.41
0.45
0.45
0.45
0.3
0.35
0.36
0.45
0.5
0.3
0.2
0.3
0.3
0.3
0.27
- -
Dividend per Share
3.3
3.54
3.72
3.79
3.97
4.35
4.72
4.8
4.89
4.72
4.54
4.67
4.71
4.73
4.66
4.54
4.38
Book Value per Share
3.3
3.54
3.72
3.78
3.97
4.35
4.72
4.8
4.89
4.72
4.54
4.67
4.71
4.73
4.65
4.54
4.38
Tangible Book Value per Share
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
Basic Weighted Avg Shares
1,090
990
964
1,004
1,050
1,171
1,145
1,034
848
703
660
824
709
461
397
399
- -
Sales/Revenue/Turnover
45.77
47.25
42.16
39.89
37.86
36.98
37.95
28.44
36.27
21.09
18.96
27.67
26.24
28.52
25.46
12.45
- -
Operating Margin (%)
125
134
136
143
147
150
148
140
156
175
146
115
113
113
49
34
- -
Depreciation Expense
- -
- -
425
433
420
464
475
327
348
172
148
225
227
205
160
100
- -
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
- -
44.11
43.15
40.05
39.59
41.51
31.62
41.01
24.49
22.51
27.24
32.04
44.51
40.26
25.13
- -
Profit Margin (%)
406
470
574
632
652
699
938
1,063
872
799
1,001
1,208
1,293
1,342
1,307
1,153
1,018
Working Capital
164
82
- -
- -
- -
- -
182
273
91
- -
- -
- -
- -
- -
- -
6
8
LT Debt
2,160
2,315
2,434
2,474
2,597
2,845
3,087
3,135
3,196
3,088
2,968
3,052
3,080
3,090
3,044
2,968
2,863
Total Equity
19.89
18.54
15.97
16.07
15.69
15.93
14.1
8.44
8.83
4.46
4.07
6.58
6.04
4.72
3.47
1.75
- -
Return on Invested Capital (%)
- -
- -
17.11
17.38
16.63
17.04
15.54
9.66
10.15
5.36
4.85
7.46
7.41
6.65
5.22
3.35
- -
Return on Capital (%)
- -
- -
17.91
17.65
16.58
17.04
16.02
10.51
10.99
5.48
4.9
7.46
7.41
6.65
5.21
3.34
- -
Return on Common Equity (%)

Capital Structure

QAR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1
1
1
LT Borrowings
- -
- -
- -
LT Finance Leases
6
6
8
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
654
654
654
Market Capitalization
1,804
1,874
1,814

Working Capital

QAR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,354
1,390
1,210
Cash, Cash Equivalents & STI
646
655
491
Accounts Receivable, Net
198
237
198
Inventories
481
496
492
Total Current Liabilities
201
206
192
Payables & Accruals
- -
- -
- -
ST Debt
1
1
1
Deferred Revenue
- -
- -
- -

Growth Rates

QAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.48%
0.02%
-2.5%
Free Cash Flow
162.82%
81.66%
18.87%
Net Income, GAAP
-10.32%
-3.33%
-37.26%
Sales/Revenue/Turnover
-9.05%
-7.47%
0.54%
Total Cash Common Dividend
- -
- -
-8.89%

Quarterly Revenue

QAR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
106
92
93
106
397
2025
91
97
- -
108
399
2026
97
107
- -
- -
- -

Quarterly Earnings Per Share

QAR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.08
0.05
0.07
0.05
0.24
2025
0.05
0.04
- -
0.03
0.15
2026
0.05
0.04
- -
- -
- -

Quarterly Dividends Per Share

QAR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.3
2025
- -
- -
- -
- -
0.27
2026
- -
- -
- -
- -
- -
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Business
Qatar National Cement Company (Q.P.S.C.) (QNCD.QA) manufactures and sells cement, lime, washed sand, and related products primarily in Qatar. The company produces Ordinary Portland Cement (OPC), Sulphate Resistant Cement (SRC), hydrated lime, calcined lime, white cement, calcium carbonate, calcium carbonate fines, ground granulated blast furnace slag, and washed sand; it operates four cement plants, two sand washing plants, and a calcium carbonate plant with total cement production capacity of 19,000 tons per day and sand washing capacity of 40,000 tons per day at facilities in Umm Bab and Al-Boaadiat. Founded in 1965 and headquartered in Doha, Qatar, the company serves the local construction market, covering approximately 70% of Qatar's cement demand through its integrated operations focused on the industrials sector. In recent developments, Qatar National Cement signs memorandums of understanding with SAP and Google Cloud for digital transformation as well as with Uzbekistan for potential collaboration; it reports net profit of US$44m for 2024, down from US$56.3m in 2023 amid declining sales revenue, and discloses interim financial statements for the nine-month period ending 30 September 2025 while maintaining dividend payouts and cost-control initiatives including a waste management consultancy tender.