Malayan Cement Bhd (KLSE:MCEMENT)

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Price: 5.05 MYR 0.8%

Market Cap: 6.8B MYR

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Section:

Relative Value

The Relative Value of one MCEMENT stock under the Base Case scenario is 7.56 MYR. Compared to the current market price of 5.05 MYR, Malayan Cement Bhd is Undervalued by 33%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Relative Value calculated?

MCEMENT Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

1.5

P/S

vs History	42
vs Industry	24

Median 5Y

1.4

Industry

0.8

Forward

1.4

More Details

14.3

P/E

vs History	58
vs Industry	27

Median 5Y

16.9

Industry

15.3

Forward

14.1

More Details

9.2

P/OCF

vs History	73
vs Industry	31

Median 5Y

11.6

Industry

8.9

More Details

Negative

P/FCFE

vs History
vs Industry	8

Median 5Y

-12.3

Industry

13.1

More Details

P/B

vs History	31
vs Industry	41

Median 5Y

0.8

Industry

1.2

More Details

EV/S

vs History	55
vs Industry	22

Median 5Y

1.9

Industry

Forward

1.9

More Details

5.4

EV/GP

vs History	96
vs Industry	31

Median 5Y

11.9

Industry

5.2

More Details

EV/EBITDA

vs History	73
vs Industry	40

Median 5Y

Industry

9.7

Forward

7.5

More Details

10.2

EV/EBIT

vs History	58
vs Industry	35

Median 5Y

11.1

Industry

12.4

Forward

9.8

More Details

11.9

EV/OCF

vs History	76
vs Industry	29

Median 5Y

21.3

Industry

10.1

More Details

EV/FCFF

vs History	60
vs Industry	25

Median 5Y

19.2

Industry

12.6

More Details

0.9

EV/IC

vs History	28
vs Industry	34

Median 5Y

0.8

Industry

0.8

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
MY	M	Malayan Cement Bhd KLSE:MCEMENT	6.8B MYR	1.5	14.3	8	10.2
IE	C	CRH PLC NYSE:CRH	64.1B USD	1	10.7	7	8.8
CH		Holcim AG SIX:HOLN	48.9B CHF	1.8	16.3	8.5	12.7
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	3.3T INR	4.7	50.5	26.6	36.4
US		Vulcan Materials Co NYSE:VMC	34.7B USD	4.7	41	19	27.6
US		Martin Marietta Materials Inc NYSE:MLM	32.5B USD	5	16.4	18.2	25.1
DE		HeidelbergCement AG XETRA:HEI	21.7B EUR	0.8	2.9	2.6	3
IN		Grasim Industries Ltd NSE:GRASIM	1.7T INR	1.3	38.3	9.9	12.1
CN		Anhui Conch Cement Co Ltd SSE:600585	127.2B CNY	1.2	18.3	10.4	10.4
IN		Ambuja Cements Ltd NSE:AMBUJACEM	1.4T INR	4.1	45.6	21.4	31.7
DE	H	Heidelberg Materials AG XMUN:HEI	13.8B EUR	0.5	1.8	1.8	2.1

				Revenue Growth	P/S to Growth
MY	M	Malayan Cement Bhd KLSE:MCEMENT	Average P/S: 2.4 1.5	16%	0.1
IE	C	CRH PLC NYSE:CRH	1	18%	0.1
CH		Holcim AG SIX:HOLN	1.8	11%	0.2
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	4.7	37%	0.1
US		Vulcan Materials Co NYSE:VMC	4.7	13%	0.3
US		Martin Marietta Materials Inc NYSE:MLM	5	17%	0.3
DE		HeidelbergCement AG XETRA:HEI	0.8	9%	0.1
IN		Grasim Industries Ltd NSE:GRASIM	1.3	40%	0
CN		Anhui Conch Cement Co Ltd SSE:600585	1.2	-2%	N/A
IN		Ambuja Cements Ltd NSE:AMBUJACEM	4.1	52%	0.1
DE	H	Heidelberg Materials AG XMUN:HEI	0.5	9%	0.1

				Earnings Growth	P/E to Growth
MY	M	Malayan Cement Bhd KLSE:MCEMENT	Average P/E: 23.3 14.3	33%	0.4
IE	C	CRH PLC NYSE:CRH	10.7	55%	0.2
CH		Holcim AG SIX:HOLN	16.3	34%	0.5
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	50.5	67%	0.8
US		Vulcan Materials Co NYSE:VMC	41	51%	0.8
US		Martin Marietta Materials Inc NYSE:MLM	16.4	26%	0.6
DE		HeidelbergCement AG XETRA:HEI	2.9	26%	0.1
IN		Grasim Industries Ltd NSE:GRASIM	38.3	77%	0.5
CN		Anhui Conch Cement Co Ltd SSE:600585	18.3	3%	6.7
IN		Ambuja Cements Ltd NSE:AMBUJACEM	45.6	64%	0.7
DE	H	Heidelberg Materials AG XMUN:HEI	1.8	26%	0.1

				EBITDA Growth	EV/EBITDA to Growth
MY	M	Malayan Cement Bhd KLSE:MCEMENT	Average EV/EBITDA: 12.1 8	16%	0.5
IE	C	CRH PLC NYSE:CRH	7	35%	0.2
CH		Holcim AG SIX:HOLN	8.5	22%	0.4
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	26.6	62%	0.4
US		Vulcan Materials Co NYSE:VMC	19	30%	0.6
US		Martin Marietta Materials Inc NYSE:MLM	18.2	23%	0.8
DE		HeidelbergCement AG XETRA:HEI	2.6	29%	0.1
IN		Grasim Industries Ltd NSE:GRASIM	9.9	44%	0.2
CN		Anhui Conch Cement Co Ltd SSE:600585	10.4	77%	0.1
IN		Ambuja Cements Ltd NSE:AMBUJACEM	21.4	80%	0.3
DE	H	Heidelberg Materials AG XMUN:HEI	1.8	29%	0.1

				EBIT Growth	EV/EBIT to Growth
MY	M	Malayan Cement Bhd KLSE:MCEMENT	Average EV/EBIT: 16.4 10.2	18%	0.6
IE	C	CRH PLC NYSE:CRH	8.8	42%	0.2
CH		Holcim AG SIX:HOLN	12.7	35%	0.4
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	36.4	67%	0.5
US		Vulcan Materials Co NYSE:VMC	27.6	40%	0.7
US		Martin Marietta Materials Inc NYSE:MLM	25.1	22%	1.1
DE		HeidelbergCement AG XETRA:HEI	3	40%	0.1
IN		Grasim Industries Ltd NSE:GRASIM	12.1	83%	0.1
CN		Anhui Conch Cement Co Ltd SSE:600585	10.4	6%	1.6
IN		Ambuja Cements Ltd NSE:AMBUJACEM	31.7	79%	0.4
DE	H	Heidelberg Materials AG XMUN:HEI	2.1	40%	0.1

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Malayan Cement Bhd
KLSE:MCEMENT

Relative Value

Valuation Multiples

Multiples Across Competitors

MCEMENT Competitors Multiples
Malayan Cement Bhd Competitors

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Company

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52 Week Range	4.57 5.88
Price Target

Malayan Cement Bhd KLSE:MCEMENT

Relative Value

Valuation Multiples

Multiples Across Competitors

MCEMENT Competitors Multiples Malayan Cement Bhd Competitors

See Also

Company

Help

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Malayan Cement Bhd
KLSE:MCEMENT

MCEMENT Competitors Multiples
Malayan Cement Bhd Competitors