Steppe CementSPPCF 53 Return-on-Tangible-Equity is 13.19% as of Dec. 2025, which is 20% above its 10-year median of 10.97. 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 397 Building Materials companies, Steppe Cement ranks better than 53.4% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Steppe Cement's annualized net income for the quarter that ended in Dec. 2025 was $7.6 Mil. Steppe Cement's average shareholder tangible equity for the quarter that ended in Dec. 2025 was $57.5 Mil. Therefore, Steppe Cement's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 13.19%.
The historical rank and industry rank for Steppe Cement's Return-on-Tangible-Equity or its related term are showing as below:
SPPCF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 0.33 Med: 10.97 Max: 28.58
Current: 5.71
During the past 13 years, Steppe Cement's highest Return-on-Tangible-Equity was 28.58%. The lowest was 0.33%. And the median was 10.97%.
SPPCF's Return-on-Tangible-Equity is ranked better than 53.4% of 397
companies
in the Building Materials industry
Industry Median: 5.06
vs SPPCF: 5.71
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Steppe Cement Return-on-Tangible-Equity Related Terms
Steppe Cement Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Steppe Cement's Return-on-Tangible-Equity 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-Equity Comparison
For the Building Materials subindustry, Steppe Cement's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Steppe Cement's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Steppe Cement's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 13.19% mean?
Steppe Cement (SPPCF) has a Return-on-Tangible-Equity of 13.19% as of Dec. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Steppe Cement and its competitors. This is 20% above median its historical median of 10.97. Over the past decade, Steppe Cement's Return-on-Tangible-Equity has ranged from 0.33 to 28.58. According to the industry distribution chart, Steppe Cement ranks #185 out of 397 companies in the Building Materials industry, placing it in the top 46.6%.
Is Steppe Cement's Return-on-Tangible-Equity too high?
Steppe Cement's current Return-on-Tangible-Equity of 13.19% is 20% above median its 10-year median of 10.97. Over the past 10 years, this metric has ranged from a low of 0.33 to a high of 28.58. The Building Materials industry median Return-on-Tangible-Equity is 5.06. Steppe Cement's value of 13.19% is 160.7% above this industry median. Based on the distribution chart, Steppe Cement ranks #185 out of 397 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-Equity compare to CRH and VMC?
According to the Building Materials industry distribution chart, Steppe Cement ranks #185 out of 397 companies for Return-on-Tangible-Equity. This puts Steppe Cement in the upper half of its industry. The industry median Return-on-Tangible-Equity is 5.06. Steppe Cement's value of 13.19% is 160.7% above this benchmark. Historically, Steppe Cement's own Return-on-Tangible-Equity has ranged from 0.33 to 28.58 over the past decade. While the company's 10-year median is 10.97 vs. the industry median of 5.06, 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-Equity for a Building Materials company?
The median Return-on-Tangible-Equity among Building Materials companies is 5.06, based on 397 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steppe Cement's current Return-on-Tangible-Equity of 13.19% is 160.7% 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Steppe Cement and its competitors. For the Building Materials industry, the median Return-on-Tangible-Equity is 5.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steppe Cement's current Return-on-Tangible-Equity is 13.19%, which is 20% above median its own 10-year median of 10.97. 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-Equity of 13.19%. 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-Equity is 13.19%, which is 20% above median its 10-year median of 10.97 and 160.7% above the Building Materials industry median of 5.06. 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-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Steppe Cement (SPPCF), the current Return-on-Tangible-Equity is 13.19% 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-Equity: 13.19% (20% above median its 10-year median of 10.97)
GF Value™: $0.32 vs. price of $0.31 (3.1% below fair value)
Industry Position: 160.7% above the Building Materials median (#185 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.
53GF Score
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