Titan Cement
Titan Cement (TITC) closed at €47.50 on 26/10/2026, -0.17% on the day. Market cap €3.6bn, P/E 15.0, dividend yield 2.32%.
Announcements to the exchange
Key statistics
FY2025 unless a figure says otherwise
Profile
At the 26 Oct close- Market value
- €3.6bn
- Enterprise valueDec 2025est.
- €3.9bn
- Shares outstandingOct 2026
- 74.8m
- RevenueFY2025
- €2.7bn
- Employees
- 6,038
- Free floatest.
- 1.1%
- Traded a day, 3-month average
- €4.2m
Valuation
FY2025- P/E
- 15.0×
- P/B
- 1.8×
- EV/Salesest.
- 1.5×
- EV/EBITDAest.
- 6.4×
- P/FCF
- 14.4×
- Dividend yield
- 2.3%
5 years, on reported full years: 5.3–9.2×, median 6.6×. Today 6.4×, lower than 58% of months.
Margins
FY2025- Gross
- 27.5%
- EBITDA
- 22.7%
- Operating (EBIT)
- 16.3%
- Pre-tax
- 13.2%
- Net
- 8.9%
- Free cash flow
- 9.2%
Net margin = the shareholders' profit ÷ group revenue.
Returns
FY2025- ROE
- 12.6%
- ROCE
- 18.9%
- ROICest.
- 13.9%
- ROA
- 7.4%
- ROE, 5-year averageFY2021–25
- 12.7%
- Tax rate
- 26.6%
- Profit to minority holders
- 8.3%
Financial health
Dec 2025- Cash
- €483.6m
- Net debt
- €213.5m
- Net debt ÷ EBITDA
- 0.35×
- Debt ÷ equity
- 33.5%
- Interest coverFY2025
- 14.9×
leases included
Growth
- Revenue, last yearFY2025
- +0.9%
- EPS, last yearFY2025
- −18.3%
- Revenue, 3 yearsFY2022–25, a year
- +5.4%
- Revenue, 5 yearsFY2020–25, a year
- +10.7%
- EPS, 3 yearsFY2022–25, a year
- +30.0%
Dividends
FY2025- Yield, last 12 months
- 2.3%
- Per share
- €1.100
- Payout
- 34.6%
- Covered by free cash flow
- 3.0×
- Years paid, last fiveFY2021–25
- 5
Trading and risk
From our closes, dividends reinvested- Total return, 1 year
- +23.6%
- 3 years, a year
- +47.7%
- 5 years, a year
- +30.8%
- Volatility, 1 year
- 30.9%
- Beta to the General Index
- 1.04×
- Deepest fall, 1 year / 5 years
- −26.0% / −27.1%
- 52-week range
- €38.85–€58.80
Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.
Financial charts
From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements
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Valuation
no like-for-like peer| Metric | TITC |
|---|---|
| P/E | 15.0 |
| P/B | 1.8 |
| P/S | 1.3 |
| EV/EBITDA | 6.4 |
| Dividend yield | 2.3% |
| Payout ratio | 34.6% |
| Gross margin | 27.5% |
| Operating margin | 16.3% |
| Net margin | 8.9% |
| ROE | 12.6% |
| Revenue growth (last full year) | 0.9% |
| Net debt | €213.5m |
Peers: Cement
No other company listed in Athens runs this business.
The company
AI-draftedA Belgian holding company listed on Euronext Brussels with a secondary listing in Athens. It makes cement, ready-mix concrete, aggregates and blocks in the United States, Greece, France, the Balkans, Egypt and Türkiye, with a joint venture in Brazil. It owns 86.667% of NYSE-listed Titan America.
- A Belgian holding company whose primary market is Euronext Brussels; the ATHEX line is a secondary listing of the same share.1,4
- A building-materials group whose largest sales region is North America: 52.7% of H1 2026 revenue.3
- Controlled by the Canellopoulos and Papalexopoulos families, acting in concert over 48.89% of voting rights.1
- Not a construction company: it sells materials by the tonne and the cubic metre, it does not take on projects.1
- No longer primarily a Greek business: Greece and Western Europe together were 21.8% of H1 2026 sales.3
- Not the same share as Titan America: TTAM is an 86.667%-owned subsidiary listed in New York.1
- Aug 2026New share buyback programme of up to €20m, running to March 2027.2
- May 2026Titan America completed the acquisition of Keystone Cement in Pennsylvania for €236m (USD 276m).3
- Feb 2026Completed the acquisition of Caba Çimento, owner of the Traçim plant near Istanbul, for €178.3m.3
- Feb 2026Issued €350m of 3.50% senior notes due 2031 through Titan Global Finance.1
- Nov 2025The Investor Day in Athens unveiled the TITAN Forward 2029 strategic plan.1
- Feb 2025Listed 13.333% of Titan America on the NYSE at USD 16.00 per share, raising USD 393m gross.1
- The Canellopoulos and Papalexopoulos families and their foundation act in concert over 48.89% of voting rights.1
- The group holds 86.667% of Titan America, listed on the NYSE since February 2025.1
- Treasury shares of 3,950,347, or 5.04% of voting rights at 31 December 2025.1
- No single customer reaches 10% of sales, per Note 5 of the 2025 financial statements.1
- TITAN Forward 2029 targets: sales up 6-8% a year, EBITDA up 11-13%, EPS of €5-6 and ROCE of 15-17%.1
- 1.Integrated Annual Report 2025Titan SA · 27/03/2026official
- 2.First Half 2026 Results media releaseTitan SA · 30/07/2026official
- 3.Interim condensed consolidated financial statements for the six months ended 30 June 2026Titan SA · 30/07/2026official
- 4.Financial Instruments Reference Data System record for BE0974338700ESMA · 10/09/2026official