Steppe CementSPPCF 55 Gross Margin % is 32.46% as of Dec. 2025, which is 12% below its 10-year median of 36.75. GuruFocus rates SPPCF with a GF Score™ of 55/100 and a GF Value™ of $0.31. The stock has 6 warning signs investors should review. Among 397 Building Materials companies, Steppe Cement ranks better than 53.9% on this metric.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Steppe Cement had a gross margin of 32.46% for the quarter that ended in Dec. 2025 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Steppe Cement Gross Margin % Related Terms
Steppe Cement Gross Margin % Historical Data
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The historical data trend for Steppe Cement's Gross Margin % 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.
For the Building Materials subindustry, Steppe Cement's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Steppe Cement's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Steppe Cement's Gross Margin % 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Steppe Cement (SPPCF) has a Gross Margin % of 32.46% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Steppe Cement and its competitors. This is 12% below median its historical median of 36.75. Over the past decade, Steppe Cement's Gross Margin % has ranged from 27.50 to 46.99. According to the industry distribution chart, Steppe Cement ranks #183 out of 397 companies in the Building Materials industry, placing it in the top 46.1%.
Is Steppe Cement's Gross Margin % too high?
Steppe Cement's current Gross Margin % of 32.46% is 12% below median its 10-year median of 36.75. Over the past 10 years, this metric has ranged from a low of 27.50 to a high of 46.99. The Building Materials industry median Gross Margin % is 26.20. Steppe Cement's value of 32.46% is 23.9% above this industry median. Based on the distribution chart, Steppe Cement ranks #183 out of 397 companies in the Building Materials industry, which is above the industry midpoint. 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 Gross Margin % compare to CRH and VMC?
According to the Building Materials industry distribution chart, Steppe Cement ranks #183 out of 397 companies for Gross Margin %. This puts Steppe Cement in the upper half of its industry. The industry median Gross Margin % is 26.20. Steppe Cement's value of 32.46% is 23.9% above this benchmark. Historically, Steppe Cement's own Gross Margin % has ranged from 27.50 to 46.99 over the past decade. While the company's 10-year median is 36.75 vs. the industry median of 26.20, 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 Gross Margin % for a Building Materials company?
The median Gross Margin % among Building Materials companies is 26.20, based on 397 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steppe Cement's current Gross Margin % of 32.46% is 23.9% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Steppe Cement and its competitors. For the Building Materials industry, the median Gross Margin % is 26.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steppe Cement's current Gross Margin % is 32.46%, which is 12% below median its own 10-year median of 36.75. 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 Gross Margin % of 32.46%. The stock's GF Value™ is $0.31, compared to a current price of $0.31 — trading right at its estimated fair value. The current Gross Margin % is 32.46%, which is 12% below median its 10-year median of 36.75 and 23.9% above the Building Materials industry median of 26.20. Steppe Cement's overall GF Score™ is 55/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Steppe Cement (SPPCF), the current Gross Margin % is 32.46% 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 undervalued.
The current stock price of $0.31 is trading 0% below its estimated GF Value™ of $0.31.
Key valuation signals for SPPCF:
Gross Margin %: 32.46% (12% below median its 10-year median of 36.75)
GF Value™: $0.31 vs. price of $0.31 (0% below fair value)
Industry Position: 23.9% above the Building Materials median (#183 of 397)
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
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