Titan Cement International stock: fair value
TITC.BRThe fair value of Titan Cement International under our model is $92.75, the price is 45% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $71.35 and expensive above $132.50 (uncertainty medium, based on the price swings of the past year).
The two parts of the fair value come to $91.18 (cash-flow model) and $94.33 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is below both.
Calculated with a cost of equity of 8.4%. At 9.4% the fair value would be $85.79, at 7.4% it would be $102.66.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (20.7).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.7%. Discounted at 8.4% (government bond yield 2.7% plus beta 1.15 times a risk premium of 5%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $91.18 per share: free cash flow for the next ten years, each year discounted to today at 8.4%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 8.4%) |
|---|---|---|---|---|
| 2026 | $310.24M | extrapolated at 15.4% | 0.9224 | $286.16M |
| 2027 | $346.2M | extrapolated at 11.6% | 0.8508 | $294.55M |
| 2028 | $377.05M | extrapolated at 8.9% | 0.7848 | $295.9M |
| 2029 | $403.57M | extrapolated at 7.0% | 0.7239 | $292.14M |
| 2030 | $426.67M | extrapolated at 5.7% | 0.6677 | $284.89M |
| 2031 | $447.17M | extrapolated at 4.8% | 0.6159 | $275.41M |
| 2032 | $465.77M | extrapolated at 4.2% | 0.5681 | $264.61M |
| 2033 | $483.06M | extrapolated at 3.7% | 0.5240 | $253.13M |
| 2034 | $499.46M | extrapolated at 3.4% | 0.4834 | $241.41M |
| 2035 | $515.32M | extrapolated at 3.2% | 0.4458 | $229.75M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $2.72B |
| Terminal value: cash flow 2035 × (1 + 2.7%) / (8.4% − 2.7%) | $9.2B |
| Present value of terminal value (× 0.4458) | $4.1B |
| Equity value (sum plus present value of terminal value) | $6.82B |
| Shares (diluted) | 74.77M |
| Value per share (equity value divided by shares) | $91.18 |
| Earnings per share, last twelve months | $4.56 |
| × 20.7 (industry P/E) | $94.33 |
| Fair value (average of both parts) | $92.75 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 11 Sep 2026)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.