Steppe CementSPPCF 53 Return-on-Tangible-Asset is 9.35% as of Dec. 2025, which is 23% above its 10-year median of 7.63. GuruFocus rates SPPCF with a GF Score™ of 53/100 and a GF Value™ of $0.32. The stock has 6 warning signs investors should review. Among 410 Building Materials companies, Steppe Cement ranks better than 61.22% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Steppe Cement's annualizedNet Income for the quarter that ended in Dec. 2025 was $7.6 Mil. Steppe Cement's average total tangible assets for the quarter that ended in Dec. 2025 was $81.2 Mil. Therefore, Steppe Cement's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 9.35%.
The historical rank and industry rank for Steppe Cement's Return-on-Tangible-Asset or its related term are showing as below:
SPPCF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.2 Med: 7.63 Max: 21.38
Current: 4.07
During the past 13 years, Steppe Cement's highest Return-on-Tangible-Asset was 21.38%. The lowest was 0.20%. And the median was 7.63%.
SPPCF's Return-on-Tangible-Asset is ranked better than 61.22% of 410
companies
in the Building Materials industry
Industry Median: 2.45
vs SPPCF: 4.07
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Steppe Cement Return-on-Tangible-Asset Related Terms
Steppe Cement Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Steppe Cement's Return-on-Tangible-Asset 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.
SPPCF vs CRH, VMC, MLM: Return-on-Tangible-Asset Comparison
For the Building Materials subindustry, Steppe Cement's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Steppe Cement's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Steppe Cement's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 9.35% mean?
Steppe Cement (SPPCF) has a Return-on-Tangible-Asset of 9.35% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Steppe Cement and its competitors. This is 23% above median its historical median of 7.63. Over the past decade, Steppe Cement's Return-on-Tangible-Asset has ranged from 0.20 to 21.38. According to the industry distribution chart, Steppe Cement ranks #159 out of 410 companies in the Building Materials industry, placing it in the top 38.8%.
Is Steppe Cement's Return-on-Tangible-Asset too high?
Steppe Cement's current Return-on-Tangible-Asset of 9.35% is 23% above median its 10-year median of 7.63. Over the past 10 years, this metric has ranged from a low of 0.20 to a high of 21.38. The Building Materials industry median Return-on-Tangible-Asset is 2.45. Steppe Cement's value of 9.35% is 281.6% above this industry median. Based on the distribution chart, Steppe Cement ranks #159 out of 410 companies in the Building Materials industry, which is above the industry midpoint. Overall, Steppe Cement has a GF Score™ of 53/100, reflecting its overall financial health beyond just this single metric.
How does Steppe Cement's Return-on-Tangible-Asset compare to CRH and VMC?
According to the Building Materials industry distribution chart, Steppe Cement ranks #159 out of 410 companies for Return-on-Tangible-Asset. This puts Steppe Cement in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.45. Steppe Cement's value of 9.35% is 281.6% above this benchmark. Historically, Steppe Cement's own Return-on-Tangible-Asset has ranged from 0.20 to 21.38 over the past decade. While the company's 10-year median is 7.63 vs. the industry median of 2.45, 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 Return-on-Tangible-Asset for a Building Materials company?
The median Return-on-Tangible-Asset among Building Materials companies is 2.45, based on 410 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steppe Cement's current Return-on-Tangible-Asset of 9.35% is 281.6% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Steppe Cement and its competitors. For the Building Materials industry, the median Return-on-Tangible-Asset is 2.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steppe Cement's current Return-on-Tangible-Asset is 9.35%, which is 23% above median its own 10-year median of 7.63. 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 Return-on-Tangible-Asset of 9.35%. The stock's GF Value™ is $0.32, compared to a current price of $0.31 — trading 3.1% below its estimated fair value. The current Return-on-Tangible-Asset is 9.35%, which is 23% above median its 10-year median of 7.63 and 281.6% above the Building Materials industry median of 2.45. Steppe Cement's overall GF Score™ is 53/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Steppe Cement (SPPCF), the current Return-on-Tangible-Asset is 9.35% 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 3.1% below its estimated GF Value™ of $0.32.
Key valuation signals for SPPCF:
Return-on-Tangible-Asset: 9.35% (23% above median its 10-year median of 7.63)
GF Value™: $0.32 vs. price of $0.31 (3.1% below fair value)
Industry Position: 281.6% above the Building Materials median (#159 of 410)
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.
53GF Score
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