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Cementos Pacasmayo S.A.A. (CPAC) 10-Year Financial Performance & Capital Metrics

CPAC • • Industrial / General
Basic MaterialsConstruction MaterialsCement & Concrete ProductsRegional Cement Specialists
AboutCementos Pacasmayo S.A.A., a cement company, produces, distributes, and sells cement and cement-related materials in Peru. The company operates through three segments: Cement, Concrete and Precast; Quicklime; and Sales of Construction Supplies. It produces cement for various uses, such as residential and commercial construction, and civil engineering; ready-mix concrete used in construction sites; concrete precast, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete precast for structural and non-structural uses; and cement-based products. The company also produces and distributes quicklime for use in steel, food, fishing, chemical, mining, agriculture, and other industries. In addition, it sells and distributes other construction materials manufactured by third parties, such as steel rebars, cables, and pipes. As of March 31, 2022, the company operated a network of 240 independent retailers and 379 hardware stores. It also sells its cement products directly to other retailers, private construction companies, and government entities. The company was incorporated in 1949 and is headquartered in Lima, Peru. Cementos Pacasmayo S.A.A. operates as a subsidiary of Inversiones ASPI S.A.Show more
  • Revenue $1.98B +1.4%
  • EBITDA $549M +14.0%
  • Net Income $199M +17.7%
  • EPS (Diluted) 2.30 +17.9%
  • Gross Margin 36.83% +4.2%
  • EBITDA Margin 27.77% +12.4%
  • Operating Margin 19.77% +14.2%
  • Net Margin 10.05% +16.1%
  • ROE 16.5% +16.8%
  • ROIC 10.98% +17.2%
  • Debt/Equity 1.24 -6.8%
  • Interest Coverage 3.95 +17.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 8/9
  • ✓Momentum leader: RS Rating 90 (top 10%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Good 3Y average ROE of 15.1%
  • ✓Trading near 52-week high
  • ✓Trading at only 0.8x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.76%
5Y7.27%
3Y0.69%
TTM3.37%

Profit (Net Income) CAGR

10Y0.31%
5Y8.54%
3Y9.09%
TTM26.68%

EPS CAGR

10Y1.01%
5Y8.21%
3Y8.51%
TTM25.63%

ROCE

10Y Avg13.71%
5Y Avg17.17%
3Y Avg14.43%
Latest15.36%

Peer Comparison

Regional Cement Specialists
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TTAMTitan America S.A.3.21B17.4119.342.69%10.83%17.94%3.51%0.61
CPACCementos Pacasmayo S.A.A.913.86M10.784.691.44%10.51%16.22%28.1%1.24
LOMALoma Negra Compañía Industrial Argentina Sociedad Anónima1.37B11.720.00-23.95%6%4.64%100%0.22

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+1.23B1.24B1.23B1.26B1.39B1.3B1.94B2.12B1.95B1.98B
Revenue Growth %-0.01%0.01%-0.01%0.03%0.1%-0.07%0.49%0.09%-0.08%0.01%
Cost of Goods Sold+695.76M736.53M732.96M796.21M905.81M921.05M1.38B1.46B1.26B1.25B
COGS % of Revenue0.57%0.59%0.6%0.63%0.65%0.71%0.71%0.69%0.65%0.63%
Gross Profit+535.26M503.64M492.68M466.05M486.89M375.29M559.43M652.03M689.45M728.53M
Gross Margin %0.43%0.41%0.4%0.37%0.35%0.29%0.29%0.31%0.35%0.37%
Gross Profit Growth %0.03%-0.06%-0.02%-0.05%0.04%-0.23%0.49%0.17%0.06%0.06%
Operating Expenses+207.77M219.57M246.54M218.48M206.09M199.18M241.31M296.7M351.9M337.49M
OpEx % of Revenue0.17%0.18%0.2%0.17%0.15%0.15%0.12%0.14%0.18%0.17%
Selling, General & Admin199.57M211.82M242.18M193.22M190.67M172.45M225.52M276.1M275.89M301.41M
SG&A % of Revenue0.16%0.17%0.2%0.15%0.14%0.13%0.12%0.13%0.14%0.15%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses150K-4.56M682K1.62M15.43M26.73M15.79M20.6M76.01M36.08M
Operating Income+318.89M272.81M198.56M241.77M270.52M176.11M318.25M355.32M337.56M391.03M
Operating Margin %0.26%0.22%0.16%0.19%0.19%0.14%0.16%0.17%0.17%0.2%
Operating Income Growth %0.06%-0.14%-0.27%0.22%0.12%-0.35%0.81%0.12%-0.05%0.16%
EBITDA+389.7M384.07M322.77M371.55M400.34M315.28M453.82M493.86M481.75M549.28M
EBITDA Margin %0.32%0.31%0.26%0.29%0.29%0.24%0.23%0.23%0.25%0.28%
EBITDA Growth %0.07%-0.01%-0.16%0.15%0.08%-0.21%0.44%0.09%-0.02%0.14%
D&A (Non-Cash Add-back)70.81M111.27M124.21M129.78M129.82M139.17M135.57M138.54M144.19M158.25M
EBIT315.67M243.97M174.3M164.79M256.43M156.69M295.89M339.17M346.47M395.15M
Net Interest Income+-33.52M-72.18M-67.92M-84.97M-75.41M-69.03M-86.07M-91.8M-96.8M-92.67M
Interest Income3.14M2.59M5.84M1.86M1.73M1.76M2.89M3.31M3.96M6.3M
Interest Expense8.9M45.86M73.76M48.65M62.08M70.79M88.97M95.11M100.76M98.97M
Other Income/Expense-21.2M-74.7M-70.14M-125.63M-76.17M-90.21M-94.14M-92.9M-91.85M-94.85M
Pretax Income+297.91M198.11M128.42M116.14M194.35M85.9M224.11M262.42M245.71M296.19M
Pretax Margin %0.24%0.16%0.1%0.09%0.14%0.07%0.12%0.12%0.13%0.15%
Income Tax+86.24M78.63M47.03M40.99M62.31M28M70.94M85.59M76.81M97.31M
Effective Tax Rate %0.72%0.59%0.73%0.66%0.68%0.67%0.68%0.67%0.69%0.67%
Net Income+215.53M116.17M93.78M76.7M132.05M57.89M153.17M176.83M168.9M198.88M
Net Margin %0.18%0.09%0.08%0.06%0.09%0.04%0.08%0.08%0.09%0.1%
Net Income Growth %0.12%-0.46%-0.19%-0.18%0.72%-0.56%1.65%0.15%-0.04%0.18%
Net Income (Continuing)217.39M119.48M81.39M75.15M132.05M57.89M153.17M176.83M168.9M198.88M
Discontinued Operations0000000000
Minority Interest103.08M112.59M148K0000000
EPS (Diluted)+2.351.341.100.901.550.701.802.051.952.30
EPS Growth %0.13%-0.43%-0.18%-0.18%0.72%-0.55%1.57%0.14%-0.05%0.18%
EPS (Basic)2.351.341.100.901.550.701.802.051.952.30
Diluted Shares Outstanding91.56M86.88M85.62M85.62M85.62M85.62M85.62M85.62M85.62M85.62M
Basic Shares Outstanding91.56M86.88M85.62M85.62M85.62M85.62M85.62M85.62M85.62M85.62M
Dividend Payout Ratio0.75%1.33%1.33%2.24%0.91%2.48%2.2%1.02%1.04%0.88%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+626.37M559.98M554.06M613.58M226.01M242.65M1.01B1.19B995.66M995.75M
Cash & Short-Term Investments159.66M80.23M49.28M48.87M20.62M85.4M272.49M168.94M90.5M72.96M
Cash Only49.83M80.23M49.28M48.87M20.62M85.4M272.49M81.9M90.5M72.96M
Short-Term Investments109.83M00000087.03M00
Accounts Receivable108.34M126.78M99.57M98.99M45.52M28.33M111.63M109.93M104.53M139.36M
Days Sales Outstanding32.1237.3129.6528.6211.937.9821.0318.9719.5725.71
Inventory306.45M345.09M373.5M423.05M156.75M127.34M603.15M886.38M793.79M776.53M
Days Inventory Outstanding160.76171.01185.99193.9463.1650.46159.72221.03229.83226.83
Other Current Assets0000000000
Total Non-Current Assets+2.78B2.75B2.26B2.24B660.05M591.82M2.19B2.19B2.31B2.25B
Property, Plant & Equipment2.57B2.32B2.22B2.15B634.44M558.57M1.98B2.01B2.11B2.04B
Fixed Asset Turnover0.48x0.54x0.55x0.59x2.20x2.32x0.98x1.05x0.93x0.97x
Goodwill0006.3M1.35M1.23M4.44M4.47M4.47M4.47M
Intangible Assets108.34M42.85M13.43M40.71M14.31M13.72M50.32M56.95M63.14M63.8M
Long-Term Investments188.72M75.89M37.95M43.51M3.17M9.84M135.91M32.96M33.53M33.9M
Other Non-Current Assets2.2M358.16M747.95K445.18K3.86M3.52M11.98M11.01M10.34M9.76M
Total Assets+3.4B3.31B2.82B2.85B886.06M834.47M3.19B3.38B3.3B3.25B
Asset Turnover0.36x0.38x0.43x0.44x1.57x1.55x0.61x0.63x0.59x0.61x
Asset Growth %0.09%-0.03%-0.15%0.01%-0.69%-0.06%2.83%0.06%-0.02%-0.02%
Total Current Liabilities+202.86M177.2M205.26M257.54M106.51M73.28M719.74M954.66M691.76M768.06M
Accounts Payable85.78M63.83M76.58M69.28M25.64M23.15M110.96M159.35M107.7M96.87M
Days Payables Outstanding4531.6338.1331.7610.339.1829.3839.7431.1828.29
Short-Term Debt00060.57M29.83M18.46M451.3M621.9M388.48M462.81M
Deferred Revenue (Current)01000K1000K786.78K1000K1000K1000K1000K1000K1000K
Other Current Liabilities60.95M58.61M76.87M58.95M40.26M18.27M99.04M85.97M132.93M138.19M
Current Ratio3.09x3.16x2.70x2.38x2.12x3.31x1.40x1.25x1.44x1.30x
Quick Ratio1.58x1.21x0.88x0.74x0.65x1.57x0.56x0.32x0.29x0.29x
Cash Conversion Cycle147.89176.7177.51190.864.7649.26151.37200.26218.22224.25
Total Non-Current Liabilities+1.16B1.16B1.1B1.15B350.19M383.13M1.28B1.23B1.42B1.26B
Long-Term Debt1.01B993.98M966.52M1.02B303.35M332.67M1.09B975.82M1.19B1.04B
Capital Lease Obligations000017.21K1.41M3.96M2.35M4.14M6.48M
Deferred Tax Liabilities118.67M139.17M108.96M124.84M44.51M42.05M149.88M199.46M192.59M188.17M
Other Non-Current Liabilities32.53M24.64M28.33M5.36M2.31M7.01M36.52M47.71M27.55M28.24M
Total Liabilities1.36B1.33B1.31B1.41B456.7M456.41M2B2.18B2.11B2.03B
Total Debt+1.01B993.98M966.52M1.08B333.2M352.53M1.55B1.6B1.59B1.51B
Net Debt959.18M913.75M917.24M1.03B312.58M267.13M1.27B1.52B1.5B1.43B
Debt / Equity0.49x0.50x0.64x0.75x0.78x0.93x1.30x1.34x1.33x1.24x
Debt / EBITDA2.59x2.59x2.99x2.90x0.83x1.12x3.41x3.24x3.29x2.74x
Net Debt / EBITDA2.46x2.38x2.84x2.77x0.78x0.85x2.81x3.07x3.11x2.61x
Interest Coverage35.85x5.95x2.69x4.97x4.36x2.49x3.58x3.74x3.35x3.95x
Total Equity+2.04B1.97B1.51B1.45B429.36M378.06M1.19B1.2B1.19B1.22B
Equity Growth %0.02%-0.03%-0.23%-0.04%-0.7%-0.12%2.15%0%-0%0.02%
Book Value per Share22.2722.6917.6216.885.014.4213.9213.9813.9514.21
Total Shareholders' Equity1.94B1.86B1.51B1.45B429.36M378.06M1.19B1.2B1.19B1.22B
Common Stock531.46M531.46M423.87M423.87M140.18M128.31M423.87M423.87M464.15M464.15M
Retained Earnings725.32M674.26M612.43M517.17M150.16M126.23M270.69M269.05M262.89M286.28M
Treasury Stock-108.25M-108.25M-119M-121.26M-36.62M-33.52M-121.26M-121.26M-121.26M-121.26M
Accumulated OCI187.48M170.76M117.14M155.77M44.93M37.39M148.04M151.09M152.87M152.58M
Minority Interest103.08M112.59M148K0000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+275.64M241.68M259.51M203.63M205.14M331.37M170.56M111.82M412.32M321.14M
Operating CF Margin %0.22%0.19%0.21%0.16%0.15%0.26%0.09%0.05%0.21%0.16%
Operating CF Growth %0.09%-0.12%0.07%-0.22%0.01%0.62%-0.49%-0.34%2.69%-0.22%
Net Income297.91M185.12M127.11M116.14M194.35M85.9M224.11M262.42M168.9M198.88M
Depreciation & Amortization70.81M111.27M124.21M129.78M129.82M139.17M135.57M138.54M144.19M159.57M
Stock-Based Compensation14.16M16.09M11.4M9.49M6.52M5.76M0000
Deferred Taxes-144.71M-94.28M-39.11M-63.71M-72.98M-87.63M0000
Other Non-Cash Items40.04M82.31M71.09M83.11M77.08M87.92M-25.75M-53.36M45.99M-8.07M
Working Capital Changes-2.56M-58.83M-35.19M-71.19M-129.65M100.25M-163.37M-235.78M53.24M-29.24M
Change in Receivables-6.23M28.08M-31.18M-171K-23.39M38.01M-47.71M-3.69M-1.87M-34.19M
Change in Inventory5.13M-49.97M-31.86M-59.64M-97.66M54.14M-151.53M-282.55M90.58M5.9M
Change in Payables517K-36.2M14.08M-9.65M-4.22M3.35M48.83M60.57M-48.68M0
Cash from Investing+-475.87M-135.63M-73.79M-98.83M-79.58M-48.42M-91.82M-176.19M-289.44M-76.61M
Capital Expenditures-483.37M-137.07M-80.83M-111.27M-83.02M-52.55M-94.55M-178.5M-272.6M-64.32M
CapEx % of Revenue0.39%0.11%0.07%0.09%0.06%0.04%0.05%0.08%0.14%0.03%
Acquisitions----------
Investments----------
Other Investing7.5M1.44M6.35M12.44M-763K4.72M4.5M2.67M-16.84M-12.29M
Cash from Financing+-257.81M-177.54M-185.43M-105.34M-106.84M-43.85M-130.09M-121.48M-115.44M-261.34M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-162.17M-154.4M-124.99M-171.79M-120.65M-143.62M-336.82M-179.82M-175.43M-175.05M
Share Repurchases----------
Other Financing12.58M-23.14M-26.22M-2.25M-13.48M321K-10.85M-15.16M86.08M297K
Net Change in Cash----------
Free Cash Flow+-207.72M104.61M178.68M92.36M122.12M278.82M76.02M-66.68M123.02M256.82M
FCF Margin %-0.17%0.08%0.15%0.07%0.09%0.22%0.04%-0.03%0.06%0.13%
FCF Growth %0.38%1.5%0.71%-0.48%0.32%1.28%-0.73%-1.88%2.84%1.09%
FCF per Share-2.271.202.091.081.433.260.89-0.781.443.00
FCF Conversion (FCF/Net Income)1.28x2.08x2.77x2.65x1.55x5.72x1.11x0.63x2.44x1.61x
Interest Paid00000000099.68M
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)10.66%5.79%5.39%5.19%14.09%14.34%19.51%14.8%14.13%16.5%
Return on Invested Capital (ROIC)8.58%6.95%5.61%7.4%12.61%19.04%15.35%10.29%9.37%10.98%
Gross Margin43.48%40.61%40.2%36.92%34.96%28.95%28.87%30.82%35.36%36.83%
Net Margin17.51%9.37%7.65%6.08%9.48%4.47%7.9%8.36%8.66%10.05%
Debt / Equity0.49x0.50x0.64x0.75x0.78x0.93x1.30x1.34x1.33x1.24x
Interest Coverage35.85x5.95x2.69x4.97x4.36x2.49x3.58x3.74x3.35x3.95x
FCF Conversion1.28x2.08x2.77x2.65x1.55x5.72x1.11x0.63x2.44x1.61x
Revenue Growth-0.93%0.74%-1.17%2.99%10.33%-6.92%49.48%9.18%-7.83%1.44%

Revenue by Segment

2017201920202021202220232024
Cement Member----1.74B1.64B1.61B
Cement Member Growth------5.75%-2.25%
Other Member----38K25.74M14.35M
Other Member Growth-----67639.47%-44.26%
CementMember--1.02B1.53B---
CementMember Growth---49.90%---
ConcreteMember--122.11M213.56M---
ConcreteMember Growth---74.90%---
ConstructionSuppliesMember--82.22M113.91M---
ConstructionSuppliesMember Growth---38.54%---
QuicklimeMember--32.47M39.14M---
QuicklimeMember Growth---20.53%---
PrecastMember--35.14M36.05M---
PrecastMember Growth---2.59%---
OtherMember--483K234K---
OtherMember Growth----51.55%---
Cement-1.07B-----
Cement Growth-------
Concrete-197.27M-----
Concrete Growth-------
Construction Supplies-67.22M-----
Construction Supplies Growth-------
Quicklime80.71M36.11M-----
Quicklime Growth--55.26%-----
Precast-25.91M-----
Precast Growth-------
Other1.84M333K-----
Other Growth--81.92%-----
Cement, concrete and blocks1.08B------
Cement, concrete and blocks Growth-------
Construction supplies66.44M------
Construction supplies Growth-------

Frequently Asked Questions

Valuation & Price

Cementos Pacasmayo S.A.A. (CPAC) has a price-to-earnings (P/E) ratio of 4.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Cementos Pacasmayo S.A.A. (CPAC) reported $2.03B in revenue for fiscal year 2024. This represents a 104% increase from $995.0M in 2011.

Cementos Pacasmayo S.A.A. (CPAC) grew revenue by 1.4% over the past year. Growth has been modest.

Yes, Cementos Pacasmayo S.A.A. (CPAC) is profitable, generating $213.1M in net income for fiscal year 2024 (10.1% net margin).

Dividend & Returns

Yes, Cementos Pacasmayo S.A.A. (CPAC) pays a dividend with a yield of 18.96%. This makes it attractive for income-focused investors.

Cementos Pacasmayo S.A.A. (CPAC) has a return on equity (ROE) of 16.5%. This is reasonable for most industries.

Cementos Pacasmayo S.A.A. (CPAC) generated $260.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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