Cementos Pacasmayo S.A.A.
- Open
- 11.72
- Day high
- 11.72
- Day low
- 11.56
- Prev close
- 11.70
- Volume
- 43K
- Mkt cap
- $996M
- P/E (TTM)
- 18.3
- EPS (TTM)
- $0.63
- P/B
- 2.7
- P/S
- 1.6
- Yield
- 4.80%
- Per share
- $0.56
Cementos Pacasmayo S.A.A. (CPAC) is a Basic Materials company listed on NYSE. The stock is up 91% over the past year.
Cementos Pacasmayo S.A.A. (CPAC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CPAC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 27, 2026 | $0.11 | $0.28 | +159.5% | $164M | +9.2% |
| Feb 13, 2026 | $0.05 | $-0.06 | -220.0% | $165M | -5.6% |
| Jul 21, 2025 | $0.10 | $0.15 | +50.0% | $136M | +2.8% |
| Feb 13, 2025 | $0.18 | $0.15 | -16.7% | $140M | -1.1% |
| Jul 22, 2024 | $0.13 | $0.12 | -7.7% | $119M | -6.3% |
| Feb 14, 2024 | $0.14 | $0.26 | +85.7% | $138M | +0.4% |
| Oct 25, 2023 | $0.15 | $0.15 | +0.0% | $136M | +3.4% |
| Jul 20, 2023 | $0.13 | $0.14 | +10.1% | $122M | -7.2% |
| Feb 14, 2023 | $0.14 | $0.12 | -14.3% | $140M | +1.1% |
| Oct 27, 2022 | $0.13 | $0.13 | +3.8% | $140M | +2.5% |
| Jul 22, 2022 | $0.10 | $0.15 | +47.1% | $133M | +6.9% |
| Apr 28, 2022 | $0.09 | $0.14 | +49.1% | $143M | +5.5% |
CPAC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 1, 2026 | Hochschild Beeck Eduardodirector, 10 percent owner: | Sell | 211,985,547 | — |
Source: CPAC SEC Form 4 filings, latest Apr 1, 2026. For informational purposes only — not investment advice.
See the full CPAC insider & 13F page →Cementos Pacasmayo S.A.A. company profile
Overview
Cementos Pacasmayo S.A.A. (NYSE:CPAC) is Peru's leading cement manufacturer, founded in 1949 and headquartered in Lima. The company has been publicly traded since its 2012 IPO and operates as a subsidiary of Inversiones ASPI S.A. With over 75 years of operations, Cementos Pacasmayo has established itself as the dominant cement producer in northern Peru, serving both residential construction and major infrastructure projects throughout the region.
Business
Cementos Pacasmayo operates in Peru's construction materials industry, which forms the backbone of the country's infrastructure development and housing construction sector. The company functions through three primary business segments that collectively serve Peru's construction ecosystem. The Cement segment represents the core business, accounting for approximately 85% of total revenues. This division produces Portland cement, which is the essential binding agent used in concrete production for residential buildings, commercial construction, and civil engineering projects. Cement is manufactured by heating limestone and clay in kilns at extremely high temperatures to create clinker, which is then ground with gypsum to produce the final cement product. The company operates modern cement plants with advanced kiln technology, including a recently optimized facility in Pacasmayo featuring a new kiln that has improved operational efficiency. The Concrete and Precast segment generates approximately 10% of revenues and produces ready-mix concrete and precast construction materials. Ready-mix concrete is delivered directly to construction sites in specialized trucks, eliminating the need for on-site mixing and ensuring consistent quality. The precast division manufactures concrete products like paving stones for pedestrian walkways, partition wall bricks, and structural concrete elements. This segment has shown strong growth, with concrete sales increasing 48.8% in 2024, largely driven by major infrastructure projects including the Piura airport reconstruction. The Quicklime and Construction Supplies segment comprises the remaining 5% of revenues. Quicklime production serves industrial customers in steel manufacturing, food processing, fishing, chemicals, mining, and agriculture sectors. The construction supplies division distributes third-party manufactured materials such as steel rebars, cables, and pipes, providing customers with a comprehensive construction materials solution.
Revenue model
Cementos Pacasmayo generates revenue primarily through direct product sales to a diverse customer base spanning retail, commercial, and government sectors. The company sells cement through a network of 240 independent retailers and 379 hardware stores, while also maintaining direct relationships with private construction companies and government entities for larger projects. The business model benefits from Peru's ongoing urbanization and infrastructure development needs, particularly in the northern regions where the company maintains market leadership. Revenue streams include bagged cement sales to individual consumers and small contractors for residential construction, bulk cement sales to large construction projects, ready-mix concrete delivery services, and specialty products like quicklime for industrial applications. Several factors influence the company's profitability margins. Favorable conditions include lower coal prices (the primary fuel for cement kilns), operational efficiencies from modern equipment like the new Pacasmayo kiln, economies of scale from higher production volumes, and Peru's growing infrastructure investment. The company has achieved record EBITDA margins approaching 30% by optimizing production costs and improving operational efficiency. Margin pressures come from energy cost fluctuations, raw material price volatility, competitive pricing dynamics in the cement market, and seasonal demand variations. The company's exposure to Peru's economic cycles affects construction activity, while government infrastructure spending patterns significantly impact large project demand. Weather events like El Niño can disrupt operations and affect regional construction activity, though they often lead to increased reconstruction demand subsequently.
Competitive moat
Cementos Pacasmayo possesses a moderate to strong regional moat built primarily on geographic advantages and market positioning within northern Peru. The company's cement plants are strategically located near limestone deposits and serve markets where transportation costs create natural barriers to competition from distant producers. Cement's high weight-to-value ratio makes long-distance shipping economically prohibitive, providing local producers with inherent protection. The company's established distribution network of 619 retail partners and direct relationships with major construction companies creates switching costs and customer loyalty. Brand recognition in the Peruvian market, built over 75 years of operations, provides pricing power and customer preference, particularly in the self-construction segment where individual consumers rely on trusted brands. However, the moat faces several vulnerabilities. Large international cement companies could potentially enter the Peruvian market through acquisitions or greenfield investments, particularly if Peru's economy continues growing. The company's dependence on the northern Peru market creates concentration risk, and economic downturns can significantly impact construction demand. Additionally, potential substitutes like alternative building materials or construction methods could erode cement demand over time. The regulatory environment presents both protection and risk, as environmental regulations favor established players with modern facilities but could require significant compliance investments. The company's recent sustainability initiatives, including commitments to reduce emissions by 20% by 2030, position it well for increasingly stringent environmental standards.
Risks & safety
Overall Assessment: Moderate margin of safety with manageable debt levels but cyclical earnings volatility. Liquidity and Solvency: • Cash and short-term investments: $14.6 million (Q1 2025) • Current ratio: 1.33x indicating adequate short-term liquidity • Net debt-to-EBITDA ratio: 2.6x, down from 3.0x, showing improving leverage • Debt-to-equity ratio: 1.24x, primarily consisting of operational liabilities rather than financial debt • Positive free cash flow: $6.5 million in Q1 2025, $68.6 million for full year 2024 Valuation Metrics: • P/E ratio: 8.7x based on trailing earnings, suggesting reasonable valuation • EV/EBITDA: 16.7x, moderate for a regional cement company • Price-to-book ratio: 1.44x, slightly above book value • Graham number: 2.86, indicating potential undervaluation relative to conservative metrics Other Considerations: • Cyclical industry exposure to Peru's construction and economic cycles • Geographic concentration in northern Peru creates both protection and risk • Recent operational improvements and record EBITDA margins provide earnings quality
Recent development
Over the past few years, Cementos Pacasmayo has undergone significant strategic transformation focused on operational optimization, digital innovation, and sustainability initiatives. The company completed a major upgrade of its Pacasmayo plant with a new kiln (kiln number 4) that has dramatically improved operational efficiency and reduced production costs, contributing to record EBITDA margins approaching 30%. The company has aggressively pursued digital transformation and artificial intelligence adoption. Management launched a comprehensive AI strategy with 86% employee participation and 84% satisfaction rates, implementing seven successful pilot projects. The company became the first Peruvian cement company to obtain ISO 27001 certification for information security and established an Information Security Committee. These digital initiatives include AI models to identify infrastructure projects, digital platforms for different customer segments, and the development of AYU, an intelligent purchasing system for construction materials. Building solutions and market expansion represent another key strategic pivot. The company has moved beyond traditional cement sales to become a comprehensive construction solutions provider. Notable projects include the Piura airport runway reconstruction, development of innovative riverbank protection solutions, and collaboration on water treatment plants at mining operations like Yanacocha. This strategy has driven the concrete and precast segments to grow 48.8% and 31% respectively in 2024. Sustainability and environmental initiatives have become central to the company's long-term strategy. Cementos Pacasmayo committed to reducing emissions by 20% by 2030, obtained environmental product declarations for its cement plants, and has been included in the S&P Sustainability Yearbook for five consecutive years. The company is exploring alternative fuels including biomass from sugarcane byproducts and end-of-life tires to reduce environmental impact while maintaining cost competitiveness.
CPAC company profile · for informational purposes only — not investment advice.
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