Titan America SA (TTAM) AI Stock Analysis

• Market Cap: $2.71B
• Dividend Yield: 0.94%
• Average Volume (3M): 244.41K
• Price to Earnings (P/E): 16.3
• Beta (1Y): 0.91
• Revenue Growth: 0.28%
• EPS Growth: -1.57%
• Country: US
• Employees: 2,742
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): 0.24
• Shares Outstanding: 184,362,470
• 10 Day Avg. Volume: 241,153
• 30 Day Avg. Volume: 244,405
• PEG Ratio: 1.33
• Price to Book (P/B): 2.92
• Price to Sales (P/S): 1.82
• P/FCF Ratio: 25.81
• Enterprise Value/Market Cap: 1.09
• Enterprise Value/Revenue: 1.78
• Enterprise Value/Gross Profit: 6.81
• Enterprise Value/Ebitda: 7.81
• 1Y Price Target: $17.67
• Price Target Upside: 20.20% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 1.12
• Revenue Forecast (FY): $1.72B

• Rating: 69 Neutral
• Price Target: $16.50 ▲(12.24% Upside)
• Action: Downgraded Date: 03/19/26
• Date: Action: Downgraded 03/19/26

The score is driven by solid underlying financial performance and a constructive earnings outlook with margin resilience and deleveraging, partially offset by weak technical momentum (below key moving averages with bearish MACD). Valuation appears reasonable, but the modest dividend and risks tied to residential softness and input-cost pressures temper the upside.

Positive Factors

Margin improvement & profitability

Titan America delivered materially higher operating margins and record adjusted EBITDA in 2025, reflecting stronger pricing, mix and operating leverage. Sustained margin improvement increases durable free cash flow potential and resilience through cycles, supporting reinvestment and shareholder returns.

Improving leverage & balance sheet

Material deleveraging and rising equity strengthened the capital structure and reduced interest sensitivity. Lower net leverage and solid ROE provide strategic flexibility to fund capex, M&A and distributions while better absorbing cyclical downturns and financing cost swings over the medium term.

Strategic Mid-Atlantic expansion

The Keystone transaction materially expands scale, geographic diversification and long-life mineral assets in an addressable >6M short ton market. If approved and executed, logistical synergies and added capacity align the company to capture multi-year infrastructure-driven demand and improve long-run margins.

Negative Factors

Prolonged residential demand weakness

Sustained weak single‑family housing and affordability constraints reduce structural demand for cement and block products. A delayed residential rebound compresses volumes and pricing in key end markets for multiple years, limiting organic revenue growth and increasing cyclicality risk in results.

Free cash flow variability

Material FCF volatility and a sharp FCF decline in 2025 constrain the firm’s ability to consistently self‑fund capex, acquisitions and payouts. Even with strong operating cash flow in 2025, inconsistent free cash conversion raises medium‑term funding and flexibility risks under adverse working capital or capex cycles.

Regulatory and execution risk on Keystone deal

The Keystone acquisition’s benefits depend on regulatory clearance and timely integration. Delays, remedies or divestiture requirements could erode expected synergies, raise costs, and postpone diversification and margin gains, leaving planned capacity and logistic advantages unrealized for an extended period.

Titan America SA Business Overview & Revenue Model

Company Description

Titan America SA manufactures building materials. The Company produces and sells cement, ready-mix concrete, aggregates, dry mortars, building blocks, and other concrete products. Titan America serves customers worldwide.

How the Company Makes Money

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Titan America SA Financial Statement Overview

Summary

Strong profitability and margin improvement with better leverage trends, but free cash flow is volatile (notably the 2025 decline) and demand appears somewhat lumpy/cyclical.

Income Statement

Profitability and momentum are strong. Revenue expanded sharply in 2025 (up ~96% vs. 2024), while margins improved across the board (gross margin ~26% and net margin ~11% in 2025 vs. ~16% and ~4.6% in 2022). EBIT and EBITDA margins also stepped up meaningfully from 2022–2025, indicating better operating leverage. The main weakness is that growth appears uneven—2024 revenue growth was modest before the 2025 surge, which can imply a more cyclical or lumpy demand profile typical of construction materials.

Balance Sheet

Leverage looks reasonable and improving. Debt-to-equity declined to ~0.45 in 2025 from ~0.78 in 2022, alongside a sizable rise in equity, which strengthens the capital structure. Returns on equity are healthy (roughly 18–22% in 2023–2025), supporting the view that the company is generating solid profits on shareholder capital. A key risk is that total debt remains sizable in absolute terms, so results could still be sensitive to industry downturns and financing conditions.

Cash Flow

Cash generation is solid but less consistent. Operating cash flow increased from 2022 to 2025, and in 2025 operating cash flow exceeded net income (about 1.38x), a positive quality signal. However, free cash flow growth turned negative in 2025 (down ~39%), and free cash flow covered only ~42% of net income in 2025, suggesting heavier reinvestment or working-capital swings. The variability in free cash flow is the main constraint on the score.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	1.66B	1.63B	1.59B	1.36B
Gross Profit	434.99M	416.65M	363.49M	221.27M
EBITDA	380.21M	348.71M	314.24M	188.81M
Net Income	185.44M	166.07M	155.24M	62.72M
Balance Sheet
Total Assets	1.89B	1.57B	1.50B	1.45B
Cash, Cash Equivalents and Short-Term Investments	211.75M	12.12M	22.04M	29.84M
Total Debt	462.41M	460.18M	409.41M	462.09M
Total Liabilities	859.81M	816.24M	779.03M	854.50M
Stockholders Equity	1.03B	750.01M	719.77M	592.73M
Cash Flow
Free Cash Flow	117.09M	112.62M	108.38M	50.10M
Operating Cash Flow	277.63M	248.04M	227.13M	178.37M
Investing Cash Flow	-157.95M	-135.80M	-117.65M	-127.30M
Financing Cash Flow	79.94M	-123.33M	-117.78M	-21.66M

Titan America SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.70
• 50DMA: Negative
• 100DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TTAM, the sentiment is Negative. The current price of 14.7 is below the 20-day moving average (MA) of 15.21, below the 50-day MA of 15.11, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 45.84 is Neutral, neither overbought nor oversold. The STOCH value of 14.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TTAM.

Titan America SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
USLM	75 Outperform	$3.44B	28.06	23.07%	0.19%	20.27%	31.94%
TTAM	69 Neutral	$2.71B	16.29	―	0.94%	0.28%	-1.57%
CX	69 Neutral	$16.04B	1.73	10.45%	0.74%	-6.34%	210.97%
TGLS	69 Neutral	$1.81B	14.72	22.02%	1.12%	15.70%	19.92%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CPAC	60 Neutral	$914.19M	20.64	16.04%	5.46%	9.24%	24.01%
LOMA	49 Neutral	$1.32B	79.74	5.06%	―	-33.99%	-61.41%

Titan America SA Corporate Events

Titan America Posts Record 2025 Results and Moves to Expand Mid-Atlantic Footprint

On March 17, 2026, Titan America SA reported that fourth-quarter 2025 revenue rose 4.1% year-on-year to $405.7 million, while net income jumped 19.1% to $43.5 million as improved volumes, cost controls and productivity expanded margins. Adjusted EBITDA for the quarter advanced 12.2% to $93.7 million, with gains driven by higher aggregates and cement output and better sales mix despite soft residential demand and regional headwinds in the Mid-Atlantic.

For full year 2025, Titan America posted record revenue of $1.66 billion, up 1.8% from 2024, and net income of $185.4 million, an 11.7% increase, as lower costs, resilient pricing and reduced financing and tax burdens lifted profitability. The group generated $295.4 million in operating cash flow, maintained modest leverage at 0.64 times adjusted EBITDA, and highlighted an agreement to acquire Keystone Cement Company to extend its Mid-Atlantic footprint and strengthen its long-term strategic position in that market.

The most recent analyst rating on (TTAM) stock is a Hold with a $17.00 price target. To see the full list of analyst forecasts on Titan America SA stock, see the TTAM Stock Forecast page.

Titan America SA Declares First-Quarter 2026 Cash Distribution from Issue Premium

On March 17, 2026, Titan America SA announced that its board declared a first‑quarter 2026 distribution of $0.04 per common share, to be paid from the company’s available issue premium. The payout is scheduled for May 8, 2026, to shareholders of record as of April 20, 2026.

The move underscores Titan America’s capacity and willingness to return capital while highlighting that future distributions or dividends will remain at the board’s discretion, subject to available issue premium, financial performance, and shareholder approvals. This framework signals continued but not guaranteed cash returns, aligning distributions with the company’s earnings, cash needs, and strategic outlook.

The most recent analyst rating on (TTAM) stock is a Hold with a $17.00 price target. To see the full list of analyst forecasts on Titan America SA stock, see the TTAM Stock Forecast page.

Titan America to Acquire Keystone Cement in $310 Million Mid-Atlantic Expansion

On January 8, 2026, Titan America SA announced an agreement to acquire Pennsylvania-based Keystone Cement Company, a cement manufacturer and aggregates producer in the Lehigh Valley, from the Fortaleza, Uniland and Tritadura groups for $310 million, or about $313 per short ton of current clinker capacity. The deal substantially expands Titan America’s footprint in the Mid-Atlantic by adding one of the state’s most efficient kilns with 990,000 short tons of clinker capacity, long‑life mineral assets expected to support more than 50 years of production, a strong position in a 6.2 million short ton addressable market across Pennsylvania, Maryland, Delaware and Ohio, and significant local aggregates and alternative-fuels infrastructure; integrated with Titan’s Essex and Roanoke Cement operations and its fly ash plants in Pennsylvania and Ohio, the acquisition is positioned to unlock logistics, commercial and cost synergies, enhance geographic diversification and margin performance once regulatory approvals and customary closing conditions are satisfied, and deepen the company’s exposure to large-scale infrastructure, technology and transportation investment-led demand in the region.

The most recent analyst rating on (TTAM) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Titan America SA stock, see the TTAM Stock Forecast page.