National Cement

National Cement Company PSC

NCCStocksDubai Financial MarketMaterials

Financials

1-5

	CurrentMar 10, 2026	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022
Market & Price
Market Capitalization	1.63B	1.62B	1.25B	0.86B	0.95B
Market Cap Growth	+30.5%	+29.9%	+45.0%	-9.1%	+17.9%
Enterprise Value	1.44B	1.37B	1.13B	0.85B	1.02B
Last Close Price	4.54	4.26	3.10	2.01	2.21
Valuation Multiples
PE Ratio	13.36	7.96	9.26	13.84	—
PS Ratio	6.04	6.44	7.11	4.58	6.91
PB Ratio	0.62	0.57	0.51	0.43	0.58
P/TBV Ratio	0.62	0.57	0.51	0.43	0.58
P/FCF Ratio	36.79	44.87	1,621.59	—	—
P/OCF Ratio	29.87	36.26	113.02	—	—
EV/Sales Ratio	5.32	5.44	6.41	4.54	7.47
EV/EBITDA Ratio	21.29	26.87	285.87	—	—
EV/EBIT Ratio	29.39	41.92	—	—	—
EV/FCF Ratio	32.44	37.89	1,463.90	—	—
Leverage & Capital
Debt / Equity Ratio	—	—	—	0.01	0.07
Debt / EBITDA Ratio	—	—	—	—	—
Debt / FCF Ratio	—	—	—	—	—
Net Debt / Equity Ratio	-0.09	-0.09	-0.05	-0.02	0.04
Net Debt / EBITDA Ratio	-5.18	-5.18	-32.52	1.10	-2.20
Net Debt / FCF Ratio	-7.31	-7.31	-166.52	1.55	-0.72
Efficiency & Liquidity
Asset Turnover	0.09	0.09	0.08	0.10	0.07
Inventory Turnover	2.95	2.95	2.47	2.56	2.52
Quick Ratio	11.78	11.78	7.15	3.07	0.95
Current Ratio	14.05	14.05	9.45	4.32	1.46
Returns & Yields
Return on Equity (ROE)	+7.7%	+7.7%	+6.0%	+3.4%	-1.7%
Return on Assets (ROA)	+0.7%	+0.7%	-0.4%	-1.6%	-1.6%
Return on Invested Capital (ROIC)	+1.3%	+1.3%	-0.7%	-2.7%	-2.8%
Return on Capital Employed (ROCE)	+1.1%	+1.1%	-0.6%	-2.4%	-2.9%
Earnings Yield	+7.5%	+12.6%	+10.8%	+7.2%	-3.0%
FCF Yield	+2.7%	+2.2%	+0.1%	-2.6%	-9.7%
Dividend Yield	+4.6%	—	+6.4%	+7.5%	—
Payout Ratio	+58.9%	+35.2%	+39.9%	—	—
Total Shareholder Return	+4.6%	—	+6.4%	+7.5%	—

1-5

	CurrentMar 10, 2026	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022
Market & Price
Market Capitalization	1.63B	1.62B	1.25B	0.86B	0.95B
Market Cap Growth	+30.5%	+29.9%	+45.0%	-9.1%	+17.9%
Enterprise Value	1.44B	1.37B	1.13B	0.85B	1.02B
Last Close Price	4.54	4.26	3.10	2.01	2.21
Valuation Multiples
PE Ratio	13.36	7.96	9.26	13.84	—
PS Ratio	6.04	6.44	7.11	4.58	6.91
PB Ratio	0.62	0.57	0.51	0.43	0.58
P/TBV Ratio	0.62	0.57	0.51	0.43	0.58
P/FCF Ratio	36.79	44.87	1,621.59	—	—
P/OCF Ratio	29.87	36.26	113.02	—	—
EV/Sales Ratio	5.32	5.44	6.41	4.54	7.47
EV/EBITDA Ratio	21.29	26.87	285.87	—	—
EV/EBIT Ratio	29.39	41.92	—	—	—
EV/FCF Ratio	32.44	37.89	1,463.90	—	—
Leverage & Capital
Debt / Equity Ratio	—	—	—	0.01	0.07
Debt / EBITDA Ratio	—	—	—	—	—
Debt / FCF Ratio	—	—	—	—	—
Net Debt / Equity Ratio	-0.09	-0.09	-0.05	-0.02	0.04
Net Debt / EBITDA Ratio	-5.18	-5.18	-32.52	1.10	-2.20
Net Debt / FCF Ratio	-7.31	-7.31	-166.52	1.55	-0.72
Efficiency & Liquidity
Asset Turnover	0.09	0.09	0.08	0.10	0.07
Inventory Turnover	2.95	2.95	2.47	2.56	2.52
Quick Ratio	11.78	11.78	7.15	3.07	0.95
Current Ratio	14.05	14.05	9.45	4.32	1.46
Returns & Yields
Return on Equity (ROE)	+7.7%	+7.7%	+6.0%	+3.4%	-1.7%
Return on Assets (ROA)	+0.7%	+0.7%	-0.4%	-1.6%	-1.6%
Return on Invested Capital (ROIC)	+1.3%	+1.3%	-0.7%	-2.7%	-2.8%
Return on Capital Employed (ROCE)	+1.1%	+1.1%	-0.6%	-2.4%	-2.9%
Earnings Yield	+7.5%	+12.6%	+10.8%	+7.2%	-3.0%
FCF Yield	+2.7%	+2.2%	+0.1%	-2.6%	-9.7%
Dividend Yield	+4.6%	—	+6.4%	+7.5%	—
Payout Ratio	+58.9%	+35.2%	+39.9%	—	—
Total Shareholder Return	+4.6%	—	+6.4%	+7.5%	—