Cementos Argos SA (CMTOY)
OTHER OTC:CMTOY
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Cementos Argos SA
(OTC:CMTOY)
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Rating:68Neutral
Price Target:
$17.00
▲(11.99% Upside)
Action:ReiteratedDate:03/05/26
The score is led by very strong valuation (very low P/E and high dividend yield) and improving financial footing (lower leverage and solid free cash flow). Offsetting factors are weak near-term technical momentum and earnings-quality/top-line concerns, while the earnings call was supportive on guidance and shareholder returns but highlighted execution risk for the U.S. growth plan.
Positive Factors
Improved balance sheet
Material deleveraging to ~0.28–0.30 D/E supports durable financial flexibility: lower default and refinancing risk, greater capacity to fund maintenance capex, dividends and strategic investments, and more resilience through construction cycles without needing urgent external financing.
Negative Factors
Volatile revenue and earnings quality
Declining revenue and erratic net income reduce predictability of future profits and undermine confidence in reported earnings. This complicates planning, weakens forecasting reliability, and raises the risk that margins and ROCE may revert in adverse cycles despite good cash flow history.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved balance sheet
Material deleveraging to ~0.28–0.30 D/E supports durable financial flexibility: lower default and refinancing risk, greater capacity to fund maintenance capex, dividends and strategic investments, and more resilience through construction cycles without needing urgent external financing.
Read all positive factors
Cementos Argos SA (CMTOY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.96B
Dividend Yield19.86%
Average Volume (3M)1.75K
Price to Earnings (P/E)1.2
Beta (1Y)0.32
Revenue Growth-27.86%
EPS Growth88.08%
CountryUS
Employees4,235
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)0.34
Shares Outstanding260,374,240
10 Day Avg. Volume0
30 Day Avg. Volume1,753
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.27
Price to Sales (P/S)0.59
P/FCF Ratio6.34
Enterprise Value/Market Cap601.80
Enterprise Value/Revenue0.46
Enterprise Value/Gross Profit1.71
Enterprise Value/Ebitda2.81
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.83
Revenue Forecast (FY)$1.47B
Cementos Argos SA Business Overview & Revenue Model
Company Description
Cementos Argos S.A. produces and markets cement, ready-mix concrete, clinker, aggregates, and related products in Colombia, the Caribbean, Central America, and the United States. The company also engages in the operation of seaports; and maritime ...
How the Company Makes Money
Cementos Argos generates revenue primarily through the sale of cement, concrete, and aggregates. The company operates several production plants and distribution facilities, allowing it to effectively serve a wide range of construction projects. Ke...
Cementos Argos SA Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 11, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive message: strong full-year financial results with margin expansion, robust cash generation, record shareholder returns, tangible regional recoveries (notably Colombia and parts of Central America & the Caribbean), and early but meaningful progress on the U.S. aggregates strategy. Management also introduced a disciplined SPRINT 4.0 with clear distribution and growth milestones. Key challenges were acknowledged — ready-mix volume declines, export impacts from a Cartagena kiln shutdown, one-off impairments and inventory write-downs, political and labor risks, and the sizable capital and execution timeline required for the U.S. expansion. Overall, the positives (record profitability, cash returns, sustainability and operational improvements, and a clear growth framework) materially outweigh the manageable and mostly nonrecurring negatives.Positive Updates
Record Profitability and Margin Expansion
Adjusted EBITDA for 2025 was ~COP 1.3 trillion (management cited COP 1.28T / COP 1.3T), expanding 6.6% year-over-year, with an adjusted EBITDA margin of ~25% (215 basis points expansion vs. prior year). Q4 EBITDA was COP 347 billion with a 27% margin. Management reported achieving a 25% margin one year ahead of schedule.
Negative Updates
Ready-Mix Volume Decline
Ready-mix dispatched 2.3 million m3 for 2025, down 12% year-over-year, driven by slowdown in the housing segment in Colombia, lack of housing subsidies, and strategic transformation of the Panama ready-mix business.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Profitability and Margin Expansion
Adjusted EBITDA for 2025 was ~COP 1.3 trillion (management cited COP 1.28T / COP 1.3T), expanding 6.6% year-over-year, with an adjusted EBITDA margin of ~25% (215 basis points expansion vs. prior year). Q4 EBITDA was COP 347 billion with a 27% margin. Management reported achieving a 25% margin one year ahead of schedule.
Read all positive updates
Company Guidance
The company’s guidance calls for 2026 adjusted EBITDA of COP 1.3–1.4 trillion (≈$350 million) — a midpoint ~6% above 2025 — with an EBITDA margin of 24–26% and ROCE sustained above 16% over the next two years; 2026 CapEx is targeted at $80–100 million in Latin America (with at least $65 million for maintenance) plus ~$80–100 million for the U.S. growth plan, while the mid‑term target is to reach ~2.0x net debt/EBITDA within 3–5 years. Under SPRINT 4.0 the company proposes shareholder returns including an ordinary dividend of COP 430/share (an 11% increase vs. 2025) paid in four installments, an extraordinary COP 150/share in April, and a COP 450 billion buyback program rolled over for two years; strategic U.S. targets include achieving positive EBITDA by end‑2027 for the aggregates/imports platform, building to >$200 million EBITDA in ~5 years (Phase‑1 investment ~$500 million to reach ~$150 million EBITDA by 2030), organic EBITDA upside of ~$100–150 million by 2030 with <$500 million investment, and inorganic bolt‑ons adding ~$100–200 million EBITDA by 2030.Cementos Argos SA Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
66
Positive
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.80T | 5.30T | 12.72T | 11.68T | 9.82T |
| Gross Profit | 1.26T | 1.33T | 2.86T | 2.06T | 1.91T |
| EBITDA | 1.02T | 722.90B | 2.64T | 2.15T | 2.14T |
| Net Income | 2.33T | 5.52T | 319.94B | 142.29B | 431.13B |
Balance Sheet | |||||
| Total Assets | 17.19T | 19.94T | 19.51T | 23.27T | 19.57T |
| Cash, Cash Equivalents and Short-Term Investments | 9.25T | 1.07T | 1.01T | 1.26T | 483.39B |
| Total Debt | 2.91T | 3.90T | 7.27T | 8.21T | 7.06T |
| Total Liabilities | 5.96T | 6.00T | 10.44T | 11.20T | 9.36T |
| Stockholders Equity | 10.52T | 13.14T | 8.36T | 11.02T | 9.25T |
Cash Flow | |||||
| Free Cash Flow | 446.43B | 565.91B | 1.30T | 701.98B | 904.44B |
| Operating Cash Flow | 696.35B | 867.83B | 2.16T | 1.42T | 1.36T |
| Investing Cash Flow | 5.03T | 445.81B | -128.93B | -735.05B | 329.95B |
| Financing Cash Flow | -3.07T | -2.33T | -1.65T | -476.37B | -1.86T |
Cementos Argos SA Technical Analysis
Positive
15.18
Price Trends
16.82
Negative
15.52
Positive
13.64
Positive
Market Momentum
-0.31
Negative
48.38
Neutral
71.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMTOY, the sentiment is Positive. The current price of 15.18 is below the 20-day moving average (MA) of 15.77, below the 50-day MA of 16.82, and above the 200-day MA of 13.64, indicating a neutral trend. The MACD of -0.31 indicates Negative momentum. The RSI at 48.38 is Neutral, neither overbought nor oversold. The STOCH value of 71.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CMTOY.
Cementos Argos SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $16.24B | -1.18 | 10.45% | 0.74% | -6.34% | 210.97% | |
70 Outperform | $5.73B | 16.19 | 28.78% | 0.47% | 1.50% | -4.44% | |
69 Neutral | $2.73B | 16.29 | ― | 0.94% | 0.28% | -1.57% | |
68 Neutral | $3.96B | 1.21 | 20.23% | 19.86% | -27.86% | 88.08% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | $923.14M | 20.64 | 16.04% | 5.46% | 9.24% | 24.01% | |
49 Neutral | $1.25B | 79.74 | 5.06% | ― | -33.99% | -61.41% |
* Basic Materials Sector Average
CMTOY
Cementos Argos SA
15.65
5.49
54.06%
CPAC
Cementos Pacasmayo SAA
10.19
4.83
90.11%
CX
Cemex SAB
10.75
5.15
91.79%
EXP
Eagle Materials
182.32
-37.59
-17.09%
LOMA
Loma Negra Compania Industrial Argentina Sociedad Anonima
10.01
-0.86
-7.91%
TTAM
Titan America SA
14.82
1.78
13.65%
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.