The Monarch Cement Company (MCEM) Stock Analysis & Winston Score

Monarch Cement makes cement, the gray powder used to make concrete for roads, buildings, and bridges. It sells cement and related construction materials like ready-mixed concrete and concrete products mainly to contractors and construction companies in the central United States. The company has operated out of Humboldt, Kansas since 1908, making it one of the older regional cement producers in the country.

Monarch earns money by selling cement by the barrel and ton, along with ready-mixed concrete and other building products through its network of plants and facilities across Kansas, Iowa, Nebraska, and nearby states. It is a small, regional company with a market value around $800 million, and its moat comes from the high cost of building new cement plants and the difficulty of shipping heavy cement long distances, which limits outside competition. The main risk the company faces is a slowdown in construction spending, since demand for cement falls quickly when housing and infrastructure projects dry up.

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

+27.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+320.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

3.6%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

$33M cash & investments at current burn rate

Revenue accelerating

The Monarch Cement Company grew revenue 28% 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.

Share count broadly stable

−0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 3.8M (2021) → 3.7M (2025)

Score breakdown

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Quality

Gross Margin

40.8%

Healthy — 40.8% gross margin

Operating Margin

27.7%

Excellent — 27.7% operating margin

ROCE

3.1%

Weak — 3.1% return on capital

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

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Growth

Sales YoY

+0.9%

Nearly flat sales (0.9% YoY)

EPS YoY

+38.6%

Earnings growing fast (38.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

113%

Turns 113% of profit into real cash

FCF Margin

17.7%

Converts sales into free cash efficiently (17.7%)

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

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

1336.99x

Comfortably covers interest (1337.0x)

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

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Valuation

P/E Ratio (TTM)

14.5x

Attractive valuation — P/E 14.5

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

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Dividends

Dividend Yield

2.53%

Moderate income — 2.53% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+0.1%

Dividend flat

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