Cement Sector Valuation
Comparative analysis based on Enterprise Value per Ton (EV/Ton).
Methodology:
- Enterprise Value (EV) = Market Cap + Total Debt - Cash & Short-term Investments.
- Portfolio Adjustment: For companies with listed holdings (e.g. CHCC), the EV is further adjusted by subtracting the market value of those holdings after an optional "Portfolio Discount".
- Market Cap = Latest Price × Outstanding Shares.
- Capacity = Annualized Production Capacity (Million Tons) as per latest industry data.
- EV/Ton (USD) = EV/Ton (PKR) / Current Exchange Rate (USD/PKR).
- Debt and Cash values are sourced from the latest quarterly balance sheets.
- EV adjusted for portfolio value.
- Discounted at 20%.