Southeast Cement Co. Ltd. (1110) AI Stock Analysis

Southeast Cement Co. Ltd.

(TWSE:1110)

Select Model

Rating:54Neutral

Price Target:TWD 14.50▲(3.94% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by deteriorating cash generation, weaker margins, and negative technical momentum. A conservatively financed balance sheet, continued profitability, moderate valuation, and dividend yield provide partial support.

Positive Factors

Conservative Balance SheetModerate leverage and a large equity base provide financial resilience for a cyclical cement producer. This structure can help the company withstand demand fluctuations, preserve access to funding, and retain flexibility to maintain operations or invest through the next several quarters.

Negative Factors

Volatile Cash GenerationUnreliable cash conversion is a material fundamental weakness because reported earnings have not consistently translated into available cash. Thin or volatile free cash flow can restrict reinvestment, shareholder returns, and balance-sheet improvement, making the company more sensitive to weaker operating conditions.

Southeast Cement Co. Ltd. (1110) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 8.07B
Dividend Yield: 2.15%
Average Volume (3M): 228.55K
Price to Earnings (P/E): 22.3
Beta (1Y): 0.38
Revenue Growth: -17.31%
EPS Growth: 17.53%
Country: TW
Employees: 155
Sector: General
Sector Strength: 55
Industry: Construction Materials

Southeast Cement Co. Ltd. Business Overview & Revenue Model

Company Description

Southeast Cement Corporation specializes in the manufacturing and distribution of cement products across Taiwan. Its diverse product line encompasses Portland I and Portland II cement, hearthstone, kiln stone powder, various processed cement goods, a...

Southeast Cement Co. Ltd. Financial Statement Overview

Summary

Profitability and the balance sheet provide support, with moderate leverage and substantial equity. However, revenue and margins declined in 2025, return on equity is low, and operating and free cash flow deteriorated sharply.

Income Statement

58Neutral

Balance Sheet

78Positive

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.63B	2.85B	2.87B	2.27B	1.79B	1.85B
Gross Profit	417.70M	428.46M	523.04M	203.88M	121.28M	134.57M
EBITDA	435.88M	422.06M	556.34M	163.05M	230.22M	231.75M
Net Income	356.44M	205.53M	348.49M	149.52M	108.12M	139.99M
Balance Sheet
Total Assets	13.37B	13.06B	12.72B	11.82B	11.99B	10.96B
Cash, Cash Equivalents and Short-Term Investments	1.29B	914.01M	869.73M	622.87M	1.02B	829.81M
Total Debt	2.50B	2.63B	2.29B	2.02B	2.59B	1.61B
Total Liabilities	3.69B	3.42B	3.16B	2.80B	3.26B	2.25B
Stockholders Equity	9.50B	9.47B	9.42B	8.92B	8.63B	8.62B
Cash Flow
Free Cash Flow	770.44M	14.72M	148.86M	-169.63M	-493.85M	-722.13M
Operating Cash Flow	873.19M	125.84M	354.11M	275.85M	-276.64M	266.60M
Investing Cash Flow	-431.20M	-234.51M	-253.38M	311.86M	-334.92M	-1.02B
Financing Cash Flow	-57.64M	178.47M	159.83M	-596.20M	488.42M	1.00B

Southeast Cement Co. Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1110 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:5511	75Outperform	TWD 9.30B	5.37	―	5.22%	15.89%	75.28%
TW:2033	66Neutral	TWD 8.94B	261.02	―	0.27%	-1.16%	-4.45%
TW:2013	63Neutral	TWD 8.13B	12.62	―	5.90%	-5.75%	8.87%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6727	55Neutral	TWD 9.58B	36.00	―	1.19%	50.99%	177.59%
TW:1110	54Neutral	TWD 7.72B	22.29	―	2.15%	-17.31%	17.53%
TW:1532	48Neutral	TWD 9.11B	22.83	―	3.73%	0.87%	215.40%

* General Sector Average

Performance Comparison

TW:1110 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1110	Southeast Cement Co. Ltd.	13.95	-2.83	-16.86%
TW:1532	China Metal Products Co., Ltd.	21.45	-4.06	-15.92%
TW:2013	China Steel Structure Co., Ltd.	40.65	1.79	4.61%
TW:2033	Chia Ta World Co., Ltd.	74.60	59.10	381.29%
TW:5511	Te Chang Construction Co., Ltd.	69.00	17.31	33.49%
TW:6727	Asia Metal Industries, Inc.	377.00	228.62	154.07%

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 10, 2026

Southeast Cement Co. Ltd. AI Stock Analysis