Operating Margin

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Price: 25.7 TWD Market Closed

Market Cap: NT$199.2B

8.8%

Declining

by 0.3%

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

8.8%

Operating Income

NT$13.9B

Revenue

NT$158.4B

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

8.8%

Operating Income

NT$13.9B

Revenue

NT$158.4B

Peer Comparison

Country		Company	Market Cap	Operating Margin
TW		Taiwan Cement Corp TWSE:1101	192.6B TWD	Loading...
IE	C	CRH PLC NYSE:CRH	83.5B USD	Loading...
CH		Holcim AG SIX:HOLN	41.9B CHF	Loading...
DE		HeidelbergCement AG XETRA:HEI	42.2B EUR	Loading...
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	3.6T INR	Loading...
US		Vulcan Materials Co NYSE:VMC	39.5B USD	Loading...
US		Martin Marietta Materials Inc NYSE:MLM	39B USD	Loading...
DE	H	Heidelberg Materials AG XMUN:HEI	27.4B EUR	Loading...
US	A	Amrize AG SIX:AMRZ	23.5B CHF	Loading...
IN		Grasim Industries Ltd NSE:GRASIM	1.9T INR	Loading...
MX		Cemex SAB de CV NYSE:CX	18.9B USD	Loading...

Market Distribution

Min	-21 347.1%
30th Percentile	0.7%
Median	5%
70th Percentile	11.5%
Max	698%

Other Profitability Ratios

Taiwan Cement Corp
Glance View

Market Cap

199.2B TWD

Industry

Construction

Taiwan Cement Corp. (TCC), founded in 1946, stands as a hallmark of industrial progress in Asia. Emerging from the post-war era, TCC was instrumental in shaping Taiwan's modernization during a time when infrastructure was pivotal for national development. The company's business is rooted in the production and sale of cement, a fundamental material indispensable for construction projects ranging from skyscrapers to highways. Cement manufacturing, while straightforward, is resource-intensive, involving the extraction of limestone followed by kilning it at high temperatures. Success in this sector requires both economies of scale and operational efficiency, which TCC has honed over decades through strategic investments in cutting-edge technology and optimization of its supply chain. Moreover, TCC's operations extend beyond mere cement production. Recognizing the environmental impacts of traditional cement manufacturing, the company has pivoted towards integrating sustainable practices. It captures profits by aligning itself with global sustainability trends, thereby attracting eco-conscious investors and customers. TCC has notably expanded its portfolio to include energy business endeavors, like waste treatment and recycling services, harnessing synergies with its core operations. This diversified approach not only fortifies the company against market volatilities but also aligns it with Taiwan’s broader environmental policies, ensuring competitive positioning in both domestic and international markets. Through its commitment to innovation and sustainability, Taiwan Cement Corp. continues to be a pivotal player in the construction materials industry, as well as a significant contributor to Taiwan’s economic fabric.

View Taiwan Cement Corp Analysis

Intrinsic Value

Undervaluation 23%

Intrinsic Value

Price

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

Taiwan Cement Corp
TWSE:1101

Peer Comparison

Market Distribution

Other Profitability Ratios

Taiwan Cement Corp
Glance View

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Taiwan Cement Corp TWSE:1101