Steppe CementSTU:ST9 +5.05%53 ROE % is 13.09% as of Dec. 2025, which is 19% above its 10-year median of 10.97. GuruFocus rates STU:ST9 with a GF Score™ of 53/100 and a GF Value™ of €0.20 (Fairly Valued). The stock has 6 warning signs investors should review. Among 404 Building Materials companies, Steppe Cement ranks better than 55.94% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Steppe Cement's annualized net income for the quarter that ended in Dec. 2025 was €6.48 Mil. Steppe Cement's average Total Stockholders Equity over the quarter that ended in Dec. 2025 was €49.50 Mil. Therefore, Steppe Cement's annualized ROE % for the quarter that ended in Dec. 2025 was 13.09%.
The historical rank and industry rank for Steppe Cement's ROE % or its related term are showing as below:
STU:ST9'
s ROE % 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 ROE % was 28.58%. The lowest was 0.33%. And the median was 10.97%.
STU:ST9's ROE % is ranked better than 55.94% of 404
companies
in the Building Materials industry
Industry Median: 4.335
vs STU:ST9: 5.71
Steppe Cement (STU:ST9) 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 two times the semi-annual (Dec. 2025) net income data. The Revenue data used here is two times the semi-annual (Dec. 2025) 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.
Steppe Cement ROE % Related Terms
Steppe Cement ROE % Historical Data
* Premium members only.
The historical data trend for Steppe 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, Steppe 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.
Steppe Cement ROE % vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Steppe Cement's ROE % distribution charts can be found below:
* The bar in red indicates where Steppe 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 two times the semi-annual (Dec. 2025) net income data.
ROE % is displayed in the 30-year financial page.
Steppe Cement (STU:ST9) has a ROE % of 13.09% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Steppe Cement and its competitors. This is 19% above median its historical median of 10.97. Over the past decade, Steppe Cement's ROE % has ranged from 0.33 to 28.58. According to the industry distribution chart, Steppe Cement ranks #178 out of 404 companies in the Building Materials industry, placing it in the top 44.1%.
Is Steppe Cement's ROE % too high?
Steppe Cement's current ROE % of 13.09% is 19% 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 ROE % is 4.34. Steppe Cement's value of 13.09% is 202% above this industry median. Based on the distribution chart, Steppe Cement ranks #178 out of 404 companies in the Building Materials industry, which is above the industry midpoint. Overall, Steppe Cement has a GF Score™ of 53/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Steppe Cement's ROE % compare to CRH and VMC?
According to the Building Materials industry distribution chart, Steppe Cement ranks #178 out of 404 companies for ROE %. This puts Steppe Cement in the upper half of its industry. The industry median ROE % is 4.34. Steppe Cement's value of 13.09% is 202% above this benchmark. Historically, Steppe Cement's own ROE % 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 4.34, 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 ROE % for a Building Materials company?
The median ROE % among Building Materials companies is 4.34, based on 404 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. Steppe Cement's current ROE % of 13.09% is 202% 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 Steppe Cement and its competitors. For the Building Materials industry, the median ROE % is 4.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steppe Cement's current ROE % is 13.09%, which is 19% 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?
Based on GuruFocus' analysis, Steppe Cement (STU:ST9) is currently considered Fairly Valued. The stock's GF Value™ is €0.20, compared to a current price of €0.21 — trading 4% above its estimated fair value. The current ROE % is 13.09%, which is 19% above median its 10-year median of 10.97 and 202% above the Building Materials industry median of 4.34. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For Steppe Cement (STU:ST9), the current ROE % is 13.09% 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 (STU:ST9) Overvalued in 2026?
Based on GuruFocus' analysis, Steppe Cement stock appears to be overvalued.
The current stock price of €0.21 is trading 4% above its estimated GF Value™ of €0.20.
GuruFocus considers Steppe Cement to be Fairly Valued.
Key valuation signals for STU:ST9:
ROE %: 13.09% (19% above median its 10-year median of 10.97)
GF Value™: €0.20 vs. price of €0.21 (4% above fair value)
Industry Position: 202% above the Building Materials median (#178 of 404)
No single metric tells the full story. See the STU:ST9 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
Get the complete analysis for STU:ST9
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
STU:ST9 has been successfully added to your 
