Steppe Cement (ST9) - Net Assets
Based on the latest financial reports, Steppe Cement (ST9) has net assets worth €56.73 Million EUR (≈ $66.33 Million USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€80.63 Million ≈ $94.26 Million USD) and total liabilities (€23.90 Million ≈ $27.94 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check ST9 goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €56.73 Million |
| % of Total Assets | 70.36% |
| Annual Growth Rate | -8.67% |
| 5-Year Change | -1.54% |
| 10-Year Change | 0.57% |
| Growth Volatility | 18.3 |
Steppe Cement - Net Assets Trend (2013–2024)
This chart illustrates how Steppe Cement's net assets have evolved over time, based on quarterly financial data. See Steppe Cement defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Steppe Cement (2013–2024)
The table below shows the annual net assets of Steppe Cement from 2013 to 2024. For live valuation and market cap data, see market value of Steppe Cement.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €57.05 Million ≈ $66.70 Million |
-19.30% |
| 2023-12-31 | €70.70 Million ≈ $82.65 Million |
+8.63% |
| 2022-12-31 | €65.08 Million ≈ $76.09 Million |
-0.76% |
| 2021-12-31 | €65.58 Million ≈ $76.67 Million |
+13.18% |
| 2020-12-31 | €57.94 Million ≈ $67.74 Million |
-7.85% |
| 2019-12-31 | €62.88 Million ≈ $73.51 Million |
+12.37% |
| 2018-12-31 | €55.96 Million ≈ $65.42 Million |
-5.98% |
| 2017-12-31 | €59.52 Million ≈ $69.58 Million |
+2.54% |
| 2016-12-31 | €58.04 Million ≈ $67.86 Million |
+2.32% |
| 2015-12-31 | €56.73 Million ≈ $66.32 Million |
-51.80% |
| 2014-12-31 | €117.69 Million ≈ $137.59 Million |
-23.89% |
| 2013-12-31 | €154.63 Million ≈ $180.77 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Steppe Cement's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 20.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €121.86 Million | 213.61% |
| Total Equity | €57.05 Million | 100.00% |
Steppe Cement Competitors by Market Cap
The table below lists competitors of Steppe Cement ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
RTG Mining Inc
AU:RTG
|
$50.26 Million |
|
Unlu Yatirim Holding AS
IS:UNLU
|
$50.26 Million |
|
FarGlory Hotel Co Ltd
TW:2712
|
$50.28 Million |
|
Adolfo Dominguez SA
MC:ADZ
|
$50.29 Million |
|
Blackstone Minerals Ltd
AU:BSX
|
$50.21 Million |
|
Wesizwe
JSE:WEZ
|
$50.18 Million |
|
Tritax Big Box REIT plc
LSE:BBOX
|
$50.17 Million |
|
Cenit Co. Ltd
KQ:037760
|
$50.17 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Steppe Cement's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 70,695,032 to 57,051,018, a change of -13,644,014 (-19.3%).
- Net income of 997,290 contributed positively to equity growth.
- Share repurchases of 8,361,000 reduced equity.
- Other factors decreased equity by 6,280,304.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €997.29K | +1.75% |
| Share Repurchases | €8.36 Million | -14.66% |
| Other Changes | €-6.28 Million | -11.01% |
| Total Change | €- | -19.30% |
Book Value vs Market Value Analysis
This analysis compares Steppe Cement's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.76x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €0.27 | €0.20 | x |
| 2018-12-31 | €0.26 | €0.20 | x |
| 2019-12-31 | €0.29 | €0.20 | x |
| 2020-12-31 | €0.26 | €0.20 | x |
| 2021-12-31 | €0.30 | €0.20 | x |
| 2022-12-31 | €0.30 | €0.20 | x |
| 2023-12-31 | €0.32 | €0.20 | x |
| 2024-12-31 | €0.26 | €0.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Steppe Cement utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 1.75%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.17%
- • Asset Turnover: 1.07x
- • Equity Multiplier: 1.39x
- Recent ROE (1.75%) is below the historical average (9.05%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 6.76% | 8.17% | 0.58x | 1.43x | €-5.01 Million |
| 2014 | -6.75% | -6.81% | 0.59x | 1.68x | €-19.71 Million |
| 2015 | -5.96% | -3.61% | 0.97x | 1.69x | €-9.05 Million |
| 2016 | 0.30% | 0.34% | 0.55x | 1.65x | €-5.63 Million |
| 2017 | 2.07% | 1.87% | 0.72x | 1.54x | €-4.72 Million |
| 2018 | 15.95% | 10.86% | 1.00x | 1.47x | €3.33 Million |
| 2019 | 15.44% | 12.14% | 0.85x | 1.50x | €3.42 Million |
| 2020 | 19.19% | 14.87% | 0.92x | 1.40x | €5.32 Million |
| 2021 | 26.02% | 20.18% | 0.98x | 1.32x | €10.51 Million |
| 2022 | 27.48% | 20.62% | 0.99x | 1.35x | €11.38 Million |
| 2023 | 6.40% | 5.53% | 0.85x | 1.36x | €-2.54 Million |
| 2024 | 1.75% | 1.17% | 1.07x | 1.39x | €-4.71 Million |
Industry Comparison
This section compares Steppe Cement's net assets metrics with peer companies in the Building Materials industry.
Industry Context
- Industry: Building Materials
- Average net assets among peers: $42,659,187,892
- Average return on equity (ROE) among peers: 8.56%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Steppe Cement (ST9) | €56.73 Million | 6.76% | 0.42x | $50.23 Million |
| Asia Cement (China) Holdings Corporation (4OJ) | $16.88 Billion | -1.56% | 0.17x | $354.11 Million |
| TECNOGLASS INC. DL-0001 (7FH) | $713.05 Million | 22.38% | 0.77x | $1.61 Billion |
| ROCCA SA ZY -05 (82J) | $1.66 Million | -14.09% | 0.85x | $5.14 Million |
| Loma Negra Compañía Industrial Argentina Sociedad Anónima (8LN) | $29.33 Billion | 13.09% | 1.01x | $1.08 Billion |
| BBMG Corporation (9BM) | $94.46 Billion | 3.01% | 2.08x | $164.06 Million |
| Anhui Conch Cement Company Limited (AQE) | $80.30 Billion | 10.62% | 0.36x | $2.89 Billion |
| Cemex SAB de CV ADR (CEXA) | $8.95 Billion | -16.39% | 2.06x | $14.44 Billion |
| China National Building Material Company Limited (D1Y) | $194.53 Billion | 1.49% | 1.54x | $2.82 Billion |
| Cementos Pacasmayo S.A.A (EPCC) | $1.20 Billion | 12.81% | 1.68x | $774.87 Million |
| Pilkington Deutschland AG (FDD) | $238.95 Million | 54.23% | 0.86x | $693.86 Million |
About Steppe Cement
Steppe Cement Ltd., an investment holding company, engages in the production and sale of 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.