Lucky Cement Co., Ltd. (1108) AI Stock Analysis

Lucky Cement Co., Ltd.

(TWSE:1108)

Select Model

Rating:67Neutral

Price Target:TWD 11.50▲(7.98% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 67 reflects a company with strong fundamentals and attractive valuation that is currently under severe technical pressure. The robust financial performance, highlighted by surging cash flows and improved margins, is the most significant positive factor. The extremely high dividend yield of 9.35% also provides a compelling valuation argument. However, these strengths are weighed down by a bearish technical picture, with the stock in a clear downtrend and deeply oversold, indicating negative market sentiment in the near term.

Positive Factors

Profitability improvementThe substantial 2025 margin expansion indicates stronger earnings capacity and improved profitability on the existing business base. If maintained, higher margins can support reinvestment, strengthen resilience during weaker demand, and provide a more durable foundation for future cash generation.

Negative Factors

Declining revenueRepeated revenue contraction signals that top-line demand or business activity has weakened after stronger growth in 2022–2023. Persistent declines can eventually pressure margins, reduce operating leverage, and limit the company’s ability to sustain the recent profitability improvement without renewed sales growth.

Lucky Cement Co., Ltd. (1108) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.29B
Dividend Yield: 9.39%
Average Volume (3M): 248.13K
Price to Earnings (P/E): 15.7
Beta (1Y): 0.24
Revenue Growth: -17.57%
EPS Growth: -70.70%
Country: TW
Employees: 405
Sector: General
Sector Strength: 55
Industry: Construction Materials

Lucky Cement Co., Ltd. Business Overview & Revenue Model

Company Description

Lucky Cement Co., along with its associated companies, is primarily engaged in the manufacturing and distribution of cement throughout the People's Republic of China. Their product offerings encompass various types of cement, including Portland, read...

Lucky Cement Co., Ltd. Financial Statement Overview

Summary

Financial performance is strong, driven by excellent cash flow generation (Cash Flow Score: 85) and a solid recovery in profitability (Income Statement Score: 78). The balance sheet is healthy with reduced leverage (Score: 72). The primary concern is a 6.1% revenue decline, but this is offset by significant margin expansion and robust free cash flow.

Income Statement

78Positive

Balance Sheet

72Positive

Cash Flow

85Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	3.98B	4.45B	4.87B	5.09B	4.15B	3.77B
Gross Profit	583.54M	851.44M	927.70M	882.91M	990.78M	560.03M
EBITDA	552.74M	1.31B	827.73M	891.45M	901.13M	541.33M
Net Income	273.64M	880.66M	493.94M	527.14M	581.22M	262.20M
Balance Sheet
Total Assets	10.28B	10.16B	10.43B	9.97B	9.66B	8.04B
Cash, Cash Equivalents and Short-Term Investments	541.17M	444.54M	665.69M	442.67M	566.80M	450.44M
Total Debt	2.93B	2.89B	3.73B	3.52B	3.45B	2.78B
Total Liabilities	4.81B	4.41B	5.25B	4.90B	4.76B	3.40B
Stockholders Equity	5.47B	5.76B	5.19B	5.07B	4.91B	4.65B
Cash Flow
Free Cash Flow	325.92M	1.01B	334.19M	370.13M	-319.04M	-190.98M
Operating Cash Flow	423.82M	1.20B	905.05M	645.23M	644.67M	82.12M
Investing Cash Flow	-89.34M	-166.93M	-577.01M	-159.53M	-1.07B	-292.67M
Financing Cash Flow	-378.68M	-1.25B	-118.51M	-471.26M	475.40M	112.61M

Lucky Cement Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1108 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1108	67Neutral	TWD 4.29B	15.74	―	9.39%	-17.57%	-70.70%
TW:1109	62Neutral	TWD 4.38B	18.35	―	7.09%	-8.96%	-28.49%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:1108 and its peers over the selected period
Show on chart	Ticker	Company Name	Price	Change	% Change
	TW:1108	Lucky Cement Co., Ltd.	10.65	-3.25	-23.41%
	TW:1109	Hsing Ta Cement Co., Ltd.	12.70	-1.94	-13.26%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026

Lucky Cement Co., Ltd. AI Stock Analysis