National Cement Company PSC

NCC.AE

Construction Materials · Basic Materials

Price

4.48 AED

+0.00 (+0.00%)

Market Cap

1.61B AED

Exchange

Dubai Financial Market

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Jul 26, 2026 · filings through Mar 31, 2026

Share count falling — buybacks

−2.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 358.8M (2021) → 351.3M (2025)

National Cement Company PSC makes cement and related construction materials. Cement is the key ingredient in concrete, used to build roads, bridges, buildings, and homes. The company sells primarily to construction contractors and developers in the United Arab Emirates, where the construction industry has been one of the most active in the world.

The company earns money by selling cement by the ton to buyers across the UAE market. It operates locally, focused on the Abu Dhabi and broader UAE region, and benefits from being one of the established domestic producers in a market where construction demand is tied closely to government infrastructure spending and real estate development. With a gross margin around 22% but a low return on invested capital of just 1.6%, the company faces pressure from competition and high production costs. The main risk is a slowdown in UAE construction activity, while continued government-backed infrastructure projects remain the key potential growth driver.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+35.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-52.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

71.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$2.4B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

National Cement Company PSC grew revenue 35% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

29.0%

Modest — 29.0% gross margin

Operating Margin

20.1%

Excellent — 20.1% operating margin

ROCE

0.5%

Weak — 0.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+56.8%

Fast-growing sales (56.8% YoY)

EPS YoY

-23.0%

Earnings shrinking (-23.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

45%

Weak — only 45% of profit becomes cash

FCF Margin

16.4%

Converts sales into free cash efficiently (16.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

N/A

Data not available

Interest Cover

27.05x

Comfortably covers interest (27.0x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

12.7x

Attractive valuation — P/E 12.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

5.58%

Healthy income — 5.58% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

+16.7%

Dividend growing fast (16.7% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial