Dangote CementNSA:DCP 100 ROE % is 48.52% as of Mar. 2026, which is 52% above its 10-year median of 31.82. GuruFocus rates NSA:DCP with a GF Score™ of 100/100 and a GF Value™ of ₦806.03 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 405 Building Materials companies, Dangote Cement ranks better than 96.79% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Dangote Cement's annualized net income for the quarter that ended in Mar. 2026 was ₦1,282,596 Mil. Dangote Cement's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was ₦2,643,551 Mil. Therefore, Dangote Cement's annualized ROE % for the quarter that ended in Mar. 2026 was 48.52%.
The historical rank and industry rank for Dangote Cement's ROE % or its related term are showing as below:
NSA:DCP'
s ROE % Range Over the Past 10 Years
Min: 21.59 Med: 31.82 Max: 46.07
Current: 46.07
During the past 13 years, Dangote Cement's highest ROE % was 46.07%. The lowest was 21.59%. And the median was 31.82%.
NSA:DCP's ROE % is ranked better than 96.79% of 405
companies
in the Building Materials industry
Industry Median: 4.32
vs NSA:DCP: 46.07
Dangote Cement (NSA:DCP) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % 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 ROE %s can be extremely high.
Dangote Cement ROE % Related Terms
Dangote Cement ROE % Historical Data
* Premium members only.
The historical data trend for Dangote Cement's ROE % 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, Dangote Cement's ROE %, along with its competitors' market caps and ROE % 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.
Dangote Cement ROE % vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Dangote Cement's ROE % distribution charts can be found below:
* The bar in red indicates where Dangote Cement's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Dangote Cement (NSA:DCP) has a ROE % of 48.52% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Dangote Cement and its competitors. This is 52% above median its historical median of 31.82. Over the past decade, Dangote Cement's ROE % has ranged from 21.59 to 46.07. According to the industry distribution chart, Dangote Cement ranks #13 out of 405 companies in the Building Materials industry, placing it in the top 3.2%.
Is Dangote Cement's ROE % too high?
Dangote Cement's current ROE % of 48.52% is 52% above median its 10-year median of 31.82. Over the past 10 years, this metric has ranged from a low of 21.59 to a high of 46.07. The Building Materials industry median ROE % is 4.32. Dangote Cement's value of 48.52% is 1023.1% above this industry median. Based on the distribution chart, Dangote Cement ranks #13 out of 405 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, Dangote Cement has a GF Score™ of 100/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dangote Cement's ROE % compare to CRH and VMC?
According to the Building Materials industry distribution chart, Dangote Cement ranks #13 out of 405 companies for ROE %. This places Dangote Cement in the top 3% of its industry — outperforming the majority of peers. The industry median ROE % is 4.32. Dangote Cement's value of 48.52% is 1023.1% above this benchmark. Historically, Dangote Cement's own ROE % has ranged from 21.59 to 46.07 over the past decade. While the company's 10-year median is 31.82 vs. the industry median of 4.32, Dangote 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 ROE % for a Building Materials company?
The median ROE % among Building Materials companies is 4.32, based on 405 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Dangote Cement's current ROE % of 48.52% is 1023.1% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Dangote Cement and its competitors. For the Building Materials industry, the median ROE % is 4.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dangote Cement's current ROE % is 48.52%, which is 52% above median its own 10-year median of 31.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dangote Cement stock overvalued right now?
Based on GuruFocus' analysis, Dangote Cement (NSA:DCP) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦806.03, compared to a current price of ₦1,070.00 — trading 32.7% above its estimated fair value. The current ROE % is 48.52%, which is 52% above median its 10-year median of 31.82 and 1023.1% above the Building Materials industry median of 4.32. Dangote Cement's overall GF Score™ is 100/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Dangote Cement (NSA:DCP), the current ROE % is 48.52% as of Mar. 2026. 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 Dangote Cement (NSA:DCP) Overvalued in 2026?
Based on GuruFocus' analysis, Dangote Cement stock appears to be overvalued.
The current stock price of ₦1,070.00 is trading 32.7% above its estimated GF Value™ of ₦806.03.
GuruFocus considers Dangote Cement to be Significantly Overvalued.
Key valuation signals for NSA:DCP:
ROE %: 48.52% (52% above median its 10-year median of 31.82)
GF Value™: ₦806.03 vs. price of ₦1,070.00 (32.7% above fair value)
Industry Position: 1023.1% above the Building Materials median (#13 of 405)
No single metric tells the full story. See the NSA:DCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dangote Cement PLC is a cement manufacturer. It manufactures and markets cement and related products through its 'Dangote' brand. The principal activity of the Company and its subsidiaries is to operate plants for the preparation, manufacture and distribution of cement and related products. The Company's production activities are undertaken at Obajana town in Kogi State, Gboko in Benue State and Ibese in Ogun State; all in Nigeria. Its geographical segment includes Nigeria and Pan Africa. The company derives a majority of revenue from Nigeria segment.
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