The Monarch Cement Company

MCEM

Construction Materials · Basic Materials

Price

$263.01

-4.69 (-1.75%)

Market Cap

$687.0M

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Exceptional

Stability

Good

Valuation

Good

Dividends

Strong

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Winston Score History

The full picture

Monarch Cement makes cement, the gray powder used to make concrete for roads, buildings, and bridges. It sells cement and related construction materials like ready-mixed concrete and concrete products mainly to contractors and construction companies in the central United States. The company has operated out of Humboldt, Kansas since 1908, making it one of the older regional cement producers in the country.

Monarch earns money by selling cement by the barrel and ton, along with ready-mixed concrete and other building products through its network of plants and facilities across Kansas, Iowa, Nebraska, and nearby states. It is a small, regional company with a market value around $800 million, and its moat comes from the high cost of building new cement plants and the difficulty of shipping heavy cement long distances, which limits outside competition. The main risk the company faces is a slowdown in construction spending, since demand for cement falls quickly when housing and infrastructure projects dry up.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+13.2% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

0.0%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

$195M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

The Monarch Cement Company is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 3.8M (2021) → 3.7M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

36.4%

Modest — 36.4% gross margin

Profit after running costs

Operating Margin

28.3%

Excellent — 28.3% operating margin

Return on the money invested

ROCE

17.2%

Strong — 17.2% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+3.4%

Slow sales growth (+3.4% YoY)

Profit growth

EPS YoY

+26.7%

Earnings growing fast (+26.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

118%

Turns 118% of profit into real cash

Spare cash per sale

FCF Margin

22.1%

Converts sales into free cash efficiently (22.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

1351.86x

Comfortably covers interest (1351.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

13.0x

Attractive valuation — P/E 13.0

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

3.88%

Moderate income — 3.88% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+24.0%

Dividend growing fast (24.0% YoY)

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