1. Taiwan Stocks

  2. •

    Non-energy minerals

  3. •

    Construction materials
Asia Cement Corporation

Asia Cement Corporation

TTWSE:1102
38.55
TWD
+0.50
(+1.31%)
3.76EPS
9.25P/E
124.13BMarket Cap
Nov 12Next Earn
Asia Cement Corporation
TWSE:1102
(Taiwan Stock Exchange)

Recent

price

38.55

P/E

ratio

9.25

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
16.33
21.09
20.29
22.34
24.72
21.1
19.41
20.67
26.36
28.47
25
28.19
27.27
24.18
22.84
21.23
20.16
Revenue per Share
2.33
3.07
1.62
3.35
2.98
1.55
1.26
1.74
3.54
5.56
4.7
4.7
3.63
3.28
3.86
3
3.79
Basic EPS, GAAP
-1.3
2.21
3.28
1.99
2.06
3.2
3.66
2.22
2.05
10.66
3.03
1.57
3.81
0.95
6.23
3.65
2.69
Free Cash Flow per Basic Share
1.63
1.79
2.29
1.75
1.89
2.35
1.18
0.96
1.28
3
3.22
3.72
3.64
2.46
2.23
2.33
- -
Dividend per Share
23.39
26.15
38.09
40
42.19
40.43
36.49
37.91
41.02
43.45
43.96
44.26
45.35
47.7
51.13
50.83
52
Book Value per Share
21.97
25.48
37.45
39.35
40.56
38.85
35.04
36.56
39.92
41.37
41.8
42.29
43.44
45.88
49.3
49.09
49.67
Tangible Book Value per Share
3,296
3,264
3,144
3,141
3,142
3,142
3,140
3,139
3,139
3,139
3,129
3,204
3,313
3,316
3,340
3,346
3,395
Basic Weighted Avg Shares
53,814
68,827
63,793
70,173
77,683
66,287
60,946
64,899
82,741
89,348
78,241
90,333
90,341
80,183
76,297
71,039
68,438
Sales/Revenue/Turnover
7.95
12.91
6.44
9.51
10.62
6.09
10.23
11.46
22.11
24.91
25.84
20.29
9.33
8.94
10.33
11.51
9.94
Operating Margin (%)
4,470
4,996
4,515
4,772
5,942
5,642
5,444
5,178
4,919
6,120
4,948
4,930
4,769
4,756
4,585
4,168
4,059
Depreciation Expense
7,676
10,016
5,082
10,517
9,362
4,860
3,946
5,469
11,117
17,460
14,710
15,068
12,016
10,883
12,890
10,030
12,849
Net Income, GAAP
6.95
12.73
13.06
13.62
20.51
27.58
27.69
21.57
26.91
21.66
22.24
20.09
17.11
20.47
20.94
18.37
11.96
Effective Tax Rate (%)
14.26
14.55
7.97
14.99
12.05
7.33
6.47
8.43
13.44
19.54
18.8
16.68
13.3
13.57
16.89
14.12
18.78
Profit Margin (%)
7,498
25,000
7,942
3,382
5,570
-12,380
1,291
-3,685
17,554
14,906
22,996
34,873
40,487
39,453
36,957
35,815
32,728
Working Capital
50,134
59,320
42,908
39,699
47,138
40,165
46,937
37,278
45,786
41,367
50,904
53,267
56,818
49,768
34,129
48,739
45,901
LT Debt
91,615
104,930
144,700
152,842
161,727
154,854
140,663
145,796
159,048
169,449
169,887
180,273
184,233
191,864
204,852
203,422
208,363
Total Equity
2.32
4.46
1.7
2.4
2.55
1.14
1.92
2.61
5.46
6.72
5.77
5.01
2.41
1.94
2.03
2.26
2.12
Return on Invested Capital (%)
5.71
5.46
2.82
4.3
3.57
2.34
1.87
2.54
3.55
5.54
4.41
4.77
4.26
3.96
4.69
3.66
4.88
Return on Capital (%)
9.99
12.03
4.71
8.01
6.78
3.5
3.05
4.37
8.38
12.3
10.01
9.89
7.56
6.6
7.35
5.55
7.36
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
47,693
53,926
50,033
LT Borrowings
47,545
40,956
44,613
LT Finance Leases
1,194
1,220
1,288
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,547
3,547
3,547
Market Capitalization
131,932
123,066
124,130

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
95,233
94,593
102,312
Cash, Cash Equivalents & STI
73,129
74,005
76,741
Accounts Receivable, Net
10,585
9,827
11,362
Inventories
7,331
7,196
7,351
Total Current Liabilities
59,418
73,132
69,584
Payables & Accruals
- -
- -
- -
ST Debt
47,693
53,926
50,033
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.89%
3.7%
-0.7%
Free Cash Flow
86.33%
109.39%
-41.24%
Net Income, GAAP
13.33%
-6.2%
-22.19%
Sales/Revenue/Turnover
1.39%
-1.5%
-6.89%
Total Cash Common Dividend
8.87%
-3.38%
4.76%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
16,500
18,985
19,953
20,860
76,297
2025
16,595
18,666
17,889
17,890
71,039
2026
14,829
17,831
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.89
1.27
0.57
1.07
3.86
2025
0.41
0.88
1.13
0.55
3
2026
0.56
1.57
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2.23
2025
- -
- -
- -
- -
2.33
2026
- -
- -
- -
- -
- -
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UltraTech Cement Limited (NSE:ULTRACEMCO)
OYAK Cimento Fabrikalari A.S. (BIST:OYAKC)
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Business
Asia Cement Corporation engages primarily in the manufacture and sale of cement, clinker, ready-mixed concrete, and related cement products in China and Taiwan. Its product portfolio includes various types of Portland cement, hearthstone powder, plaster, silica sand, and granulated blast-furnace slag. The company also operates in diversified business segments including electric power generation, investment, engineering, transportation, stainless steel manufacturing, leasing, warehousing, real estate development, and afforestation. Asia Cement offers both wholesale and retail sales of building materials and undertakes waste treatment services. Founded in 1957 and headquartered in Taipei, Taiwan, it has expanded its business footprint through subsidiaries such as Ya Tung Ready-Mix and strategic investments in companies like Far Eastern New Century, U-Ming Marine Transport, and Yuan Long Stainless Steel Corporation. Recent major company changes reflect Asia Cement’s strategic diversification beyond its core cement business. In 2025, the company announced a significant investment of approximately TWD 2.52 billion (about USD 84 million) in a large-scale battery energy storage project in Kaohsiung’s Siaogang District, aiming to participate in Taiwan Power Company’s energy storage system starting in the fourth quarter of 2025. This reflects a broader strategic shift to diversify revenue streams and strengthen profitability amid market pressures from fluctuating cement prices, especially in China. In addition, Asia Cement and IX Renewables signed a cooperation agreement for the "Rui Li 1" floating offshore wind project in late 2025, marking a move into renewable energy sectors. The company continues emphasizing ESG (environmental, social, governance) governance and low-carbon building materials, underscoring its commitment to sustainability through technology-driven innovation and green business practices. Asia Cement operates across extensive geographic markets, primarily Taiwan and China, with international business extensions via its strategic investments. Its target customers range from infrastructure and construction sectors to industrial and environmental markets. The company maintains a comprehensive product and service assortment oriented toward building materials, energy, and environmental solutions. It continues to uphold its position in the cement industry while actively expanding into energy storage and renewable energy sectors as part of its evolving business strategy to adapt to global sustainability trends.