Cemex SAB de CV ADR (CX) is slightly overvalued and Eagle Materials Inc (EXP) is fairly valued.
Against our estimates of intrinsic value, EXP trades at the wider discount: a margin of safety of +1%, against -15% for CX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.7% (average of 3 methods) values the shares at $8.94; the price of $10.24 is 15% above that value, and 73% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
Discounting its cash flows at 9.7% (average of 3 methods) values the shares at $185.22; the price of $183.16 is 1% below that value, and 74% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | CX | EXP |
|---|---|---|
| Verdict | Slightly overvalued | Fairly valued |
| Price | $10.24 | $183.16 |
| Intrinsic value | $8.94 | $185.22 |
| Margin of safety | -15% | +1% |
| Leak Score | 14/100 (3/12) | 59/100 (3/12) |
| Market cap | $15.5B | $5.6B |
| Revenue growth, 5 years | 4.7% | 7.3% |
| Operating margin | 12.3% | 23.2% |
| Net margin | 2.8% | 17.3% |
| Return on equity | 4.0% | 27.0% |
| Debt to equity | 0.55 | 1.21 |
| P/E | 31.1x | 14.5x |
| Forward P/E | 10.8x | 12.9x |
| P/B | 1.2x | 3.8x |
| Dividend yield | 1.3% | 0.5% |