Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Steppe CementSPPCF 55 Cash-to-Debt is 4.31 as of Dec. 2025, which is 525% above its 10-year median of 0.69. GuruFocus rates SPPCF with a GF Score™ of 55/100 and a GF Value™ of $0.28. The stock has 8 warning signs investors should review. Among 396 Building Materials companies, Steppe Cement ranks better than 82.32% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Steppe Cement's cash to debt ratio for the quarter that ended in Dec. 2025 was 4.31.
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, Steppe Cementcould pay off its debt using the cash in hand for the quarter that ended in Dec. 2025.
The historical rank and industry rank for Steppe Cement's Cash-to-Debt or its related term are showing as below:
SPPCF'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.04 Med: 0.69 Max: 4.31
Current: 4.31
During the past 13 years, Steppe Cement's highest Cash to Debt Ratio was 4.31. The lowest was 0.04. And the median was 0.69.
SPPCF's Cash-to-Debt is ranked better than 82.32% of 396
companies
in the Building Materials industry
Industry Median: 0.515
vs SPPCF: 4.31
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Steppe Cement Cash-to-Debt Related Terms
Steppe Cement Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Steppe Cement's Cash-to-Debt can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
For the Building Materials subindustry, Steppe Cement's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Steppe Cement Cash-to-Debt vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Steppe Cement's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Steppe Cement's Cash-to-Debt falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Steppe Cement (SPPCF) has a Cash-to-Debt of 4.31 as of Dec. 2025. This is 525% above median its historical median of 0.69. Over the past decade, Steppe Cement's Cash-to-Debt has ranged from 0.04 to 4.31. According to the industry distribution chart, Steppe Cement ranks #70 out of 396 companies in the Building Materials industry, placing it in the top 17.7%.
Is Steppe Cement's Cash-to-Debt too high?
Steppe Cement's current Cash-to-Debt of 4.31 is 525% above median its 10-year median of 0.69. Over the past 10 years, this metric has ranged from a low of 0.04 to a high of 4.31. The Building Materials industry median Cash-to-Debt is 0.52. Steppe Cement's value of 4.31 is 736.9% above this industry median. Based on the distribution chart, Steppe Cement ranks #70 out of 396 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, Steppe Cement has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Steppe Cement's Cash-to-Debt compare to CRH and VMC?
According to the Building Materials industry distribution chart, Steppe Cement ranks #70 out of 396 companies for Cash-to-Debt. This places Steppe Cement in the top 18% of its industry — outperforming the majority of peers. The industry median Cash-to-Debt is 0.52. Steppe Cement's value of 4.31 is 736.9% above this benchmark. Historically, Steppe Cement's own Cash-to-Debt has ranged from 0.04 to 4.31 over the past decade. While the company's 10-year median is 0.69 vs. the industry median of 0.52, Steppe Cement has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for a Building Materials company?
The median Cash-to-Debt among Building Materials companies is 0.52, based on 396 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steppe Cement's current Cash-to-Debt of 4.31 is 736.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Building Materials industry, the median Cash-to-Debt is 0.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steppe Cement's current Cash-to-Debt is 4.31, which is 525% above median its own 10-year median of 0.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steppe Cement stock overvalued right now?
Steppe Cement (SPPCF) has a current Cash-to-Debt of 4.31. The stock's GF Value™ is $0.28, compared to a current price of $0.31 — trading 10.7% above its estimated fair value. The current Cash-to-Debt is 4.31, which is 525% above median its 10-year median of 0.69 and 736.9% above the Building Materials industry median of 0.52. Steppe Cement's overall GF Score™ is 55/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Steppe Cement (SPPCF), the current Cash-to-Debt is 4.31 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Steppe Cement (SPPCF) Overvalued in 2026?
Based on GuruFocus' analysis, Steppe Cement stock appears to be overvalued.
The current stock price of $0.31 is trading 10.7% above its estimated GF Value™ of $0.28.
Key valuation signals for SPPCF:
Cash-to-Debt: 4.31 (525% above median its 10-year median of 0.69)
GF Value™: $0.28 vs. price of $0.31 (10.7% above fair value)
Industry Position: 736.9% above the Building Materials median (#70 of 396)
No single metric tells the full story. See the SPPCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steppe Cement Ltd is an investment holding company based in Malaysia. Its primary business is the production and sale of cement, which is in the Karaganda region, the Republic of Kazakhstan. The company derives revenue from the sale of manufactured goods and the transmission and distribution of electricity.
55GF Score
Get the complete analysis for SPPCF
Cash-to-Debt is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
SPPCF has been successfully added to your 
