Detailed financial statements for Loma Negra Compañía Industrial Argentina Sociedad Anónima (LOMA): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
Loma Negra Compañía Industrial Argentina Sociedad Anónima, operating through its various subsidiaries across Argentina, is a key player in the manufacturing and supply of cement and an array of associated building materials. The company's multifaceted operations are categorized into distinct business units, encompassing Cement, Masonry Cement and Lime, Concrete, Rail Services, and Aggregates, alongside other complementary activities.
Analysis Summary
Loma Negra Compañía Industrial Argentina Sociedad Anónima reported revenue of 988.07B ARS in the most recent fiscal year, growing at a 5-year CAGR of 51.8%. Net income reached 27.48B ARS, with a -3.8% 5-year CAGR.
Trailing-twelve-month margins: gross margin 21.5%, operating margin 9.1%, net margin 5.2%.
At the current price of $9.77, LOMA trades at a P/E of 36.85 and an ROE of 4.06%. Market capitalisation stands at $1.1B.
Balance sheet quality for LOMA: current ratio of 1.4, net debt of 269.92B ARS. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is below average: free cash flow of -40.66B ARS represents -148% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 72.08B ARS | 122.38B ARS | 446.87B ARS | 984.19B ARS | 919.31B ARS | 699.18B ARS | 988.07B ARS |
| Cost of Revenue | 52.39B ARS | 85.34B ARS | 305.63B ARS | 718.41B ARS | 688.69B ARS | 512.20B ARS | 772.52B ARS |
| Gross Profit | 19.69B ARS | 37.04B ARS | 141.24B ARS | 265.78B ARS | 230.63B ARS | 186.98B ARS | 215.54B ARS |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | 3.77B ARS | 6.69B ARS | 25.28B ARS | 58.42B ARS | 61.18B ARS | 53.89B ARS | 109.92B ARS |
| Operating Expenses | 6.58B ARS | 11.58B ARS | 42.89B ARS | 94.71B ARS | 94.38B ARS | 80.60B ARS | 120.44B ARS |
| Operating Income | 13.11B ARS | 25.46B ARS | 98.35B ARS | 171.07B ARS | 136.24B ARS | 106.39B ARS | 95.10B ARS |
| EBITDA | 17.97B ARS | 43.05B ARS | 138.75B ARS | 205.71B ARS | 244.85B ARS | 370.58B ARS | 210.70B ARS |
| Interest Expense | 2.36B ARS | 17.1M ARS | 3.66B ARS | 41.05B ARS | 136.82B ARS | 58.40B ARS | 67.53B ARS |
| Pre-tax Income | 10.09B ARS | 25.04B ARS | 98.95B ARS | 74.61B ARS | 37.93B ARS | 249.55B ARS | 43.53B ARS |
| Income Tax | 3.32B ARS | 6.66B ARS | 60.46B ARS | 62.36B ARS | 16.85B ARS | 95.93B ARS | 16.95B ARS |
| Net Income | 7.89B ARS | 33.37B ARS | 39.95B ARS | 13.15B ARS | 22.44B ARS | 153.81B ARS | 27.48B ARS |
| EPS | $43.85 | $280.00 | $337.40 | $51.55 | $88.30 | $6,590.15 | $232.15 |
| EPS (Diluted) | $43.85 | $280.00 | $337.40 | $51.55 | $88.30 | $6,590.15 | $232.15 |
| Shares Outstanding (Diluted) | 119.2M ARS | 119.2M ARS | 118.4M ARS | 117.1M ARS | 116.7M ARS | 116.6M ARS | 116.6M ARS |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | 209.27B ARS | 227.42B ARS | 218.74B ARS | 238.05B ARS |
| Gross Profit | 36.26B ARS | 53.46B ARS | 57.03B ARS | 45.66B ARS |
| Operating Income | 14.74B ARS | 21.96B ARS | 30.51B ARS | 14.26B ARS |
| EBITDA | 6.08B ARS | 48.47B ARS | 97.57B ARS | 50.28B ARS |
| Net Income | -8.47B ARS | 6.31B ARS | 41.00B ARS | 7.47B ARS |
| EPS | $-72.55 | $54.10 | $351.35 | $64.00 |
| EPS (Diluted) | $-72.55 | $54.10 | $351.35 | $64.00 |
Balance Sheet (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 387.4M ARS | 402.4M ARS | 644.2M ARS | 2.07B ARS | 10.94B ARS | 7.97B ARS | 9.76B ARS |
| Short-term Investments | 1.39B ARS | 6.20B ARS | 9.62B ARS | 13.22B ARS | 3.72B ARS | 578.5M ARS | 21.65B ARS |
| Receivables | 3.23B ARS | 6.04B ARS | 8.57B ARS | 43.16B ARS | 85.98B ARS | 59.65B ARS | 114.13B ARS |
| Inventory | 6.59B ARS | 8.29B ARS | 16.94B ARS | 63.54B ARS | 166.56B ARS | 201.76B ARS | 294.07B ARS |
| Total Current Assets | 12.36B ARS | 21.24B ARS | 37.24B ARS | 125.46B ARS | 278.12B ARS | 273.40B ARS | 439.61B ARS |
| Property, Plant & Equipment | 54.33B ARS | 81.52B ARS | 158.96B ARS | 481.19B ARS | 1.06T ARS | 1.06T ARS | 1.36T ARS |
| Goodwill | 34.7M ARS | 52.4M ARS | 102.1M ARS | 317.9M ARS | 692.2M ARS | 692.2M ARS | 910.7M ARS |
| Intangible Assets | 171.5M ARS | 290.3M ARS | 563.1M ARS | 1.46B ARS | 3.45B ARS | 2.90B ARS | 8.71B ARS |
| Total Assets | 75.73B ARS | 107.09B ARS | 204.24B ARS | 631.83B ARS | 1.39T ARS | 1.41T ARS | 1.90T ARS |
| Accounts Payable | 3.06B ARS | 4.83B ARS | 8.03B ARS | 39.00B ARS | 91.08B ARS | 72.16B ARS | 118.13B ARS |
| Short-term Debt | 6.97B ARS | 6.90B ARS | 4.11B ARS | 33.91B ARS | 81.06B ARS | 100.68B ARS | 136.43B ARS |
| Total Current Liabilities | 21.35B ARS | 23.06B ARS | 32.40B ARS | 130.00B ARS | 255.57B ARS | 267.82B ARS | 305.99B ARS |
| Long-term Debt | 5.57B ARS | 2.82B ARS | 776.7M ARS | 30.77B ARS | 239.86B ARS | 70.22B ARS | 163.57B ARS |
| Total Liabilities | 35.80B ARS | 38.57B ARS | 63.00B ARS | 270.76B ARS | 750.46B ARS | 615.21B ARS | 827.02B ARS |
| Retained Earnings | 21.38B ARS | 17.13B ARS | 12.83B ARS | 6.04B ARS | 14.97B ARS | 153.81B ARS | 23.58B ARS |
| Total Equity | 36.89B ARS | 68.10B ARS | 140.92B ARS | 360.46B ARS | 640.75B ARS | 793.34B ARS | 1.07T ARS |
| Total Debt | 13.14B ARS | 10.52B ARS | 5.50B ARS | 68.00B ARS | 329.60B ARS | 174.09B ARS | 301.33B ARS |
| Net Debt | 11.36B ARS | 3.92B ARS | -4.76B ARS | 52.71B ARS | 314.94B ARS | 165.53B ARS | 269.92B ARS |
| Working Capital | -8.99B ARS | -1.82B ARS | 4.84B ARS | -4.54B ARS | 22.55B ARS | 5.58B ARS | 133.62B ARS |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | 11.38B ARS | 9.76B ARS | 12.98B ARS | 10.30B ARS |
| Total Assets | 1.85T ARS | 1.90T ARS | 2.08T ARS | 2.19T ARS |
| Total Liabilities | 865.11B ARS | 827.02B ARS | 874.99B ARS | 896.50B ARS |
| Total Equity | 983.69B ARS | 1.07T ARS | 1.21T ARS | 1.30T ARS |
| Total Debt | 400.30B ARS | 301.33B ARS | 308.97B ARS | 305.89B ARS |
Cash Flow (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Income | 87.1M ARS | 88.0M ARS | 38.48B ARS | 12.25B ARS | 21.08B ARS | 153.63B ARS | 27.48B ARS |
| Depreciation & Amortization | 78.1M ARS | 55.2M ARS | 36.15B ARS | 90.04B ARS | 70.10B ARS | 62.63B ARS | 99.64B ARS |
| Stock-based Compensation | 0 | 0 | 241.9M ARS | 429.5M ARS | 862.2M ARS | 683.0M ARS | 0 |
| Change in Working Capital | 7.6M ARS | 4.2M ARS | -1.14B ARS | 38.65B ARS | 30.15B ARS | -15.78B ARS | -24.94B ARS |
| Operating Cash Flow | 138.5M ARS | 120.0M ARS | 91.29B ARS | 212.68B ARS | 185.16B ARS | 124.72B ARS | 32.60B ARS |
| Capital Expenditure | -330.3M ARS | -136.4M ARS | -43.62B ARS | -69.90B ARS | -79.97B ARS | -73.73B ARS | -73.27B ARS |
| Acquisitions | 1.8M ARS | 563,076 ARS | 2.81B ARS | 630.9M ARS | 1.41B ARS | 0 | 4.03B ARS |
| Stock Repurchased | 0 | 0 | -14.48B ARS | -12.19B ARS | 0 | -594.8M ARS | 0 |
| Dividends Paid | 0 | -37.7M ARS | 0 | -147.87B ARS | -189.12B ARS | 0 | -3.5M ARS |
| Free Cash Flow | -191.8M ARS | -16.4M ARS | 47.67B ARS | 142.78B ARS | 105.20B ARS | 50.98B ARS | -40.66B ARS |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | 31.94B ARS | 56.36B ARS | 19.71B ARS | 18.10B ARS |
| Capital Expenditure | -14.60B ARS | -20.67B ARS | -11.79B ARS | -10.04B ARS |
| Free Cash Flow | 17.34B ARS | 35.69B ARS | 7.93B ARS | 8.06B ARS |
| Dividends Paid | -2.0M ARS | -1.1M ARS | 0 | 0 |
| Stock-based Compensation | 0 | 0 | 0 | 0 |
Growth & Margins (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +69.8% | +265.1% | +120.2% | -6.6% | -23.9% | +41.3% | |
| Net Income Growth (YoY) | +323.0% | +19.7% | -67.1% | +70.7% | +585.4% | -82.1% | |
| EPS Growth (YoY) | +538.5% | +20.5% | -84.7% | +71.3% | +7,363.4% | -96.5% | |
| Shares Change (YoY) | +0.0% | -0.7% | -1.1% | -0.3% | -0.1% | +0.0% | |
| FCF Growth (YoY) | +91.4% | +290,534.6% | +199.5% | -26.3% | -51.5% | -179.8% | |
| Gross Margin | 27.3% | 30.3% | 31.6% | 27.0% | 25.1% | 26.7% | 21.8% |
| Operating Margin | 18.2% | 20.8% | 22.0% | 17.4% | 14.8% | 15.2% | 9.6% |
| EBITDA Margin | 24.9% | 35.2% | 31.1% | 20.9% | 26.6% | 53.0% | 21.3% |
| Net Margin | 10.9% | 27.3% | 8.9% | 1.3% | 2.4% | 22.0% | 2.8% |
| FCF Margin | -0.3% | -0.0% | 10.7% | 14.5% | 11.4% | 7.3% | -4.1% |
| Effective Tax Rate | 32.9% | 26.6% | 61.1% | 83.6% | 44.4% | 38.4% | 38.9% |
Per-Share Data (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| FCF Per Share | $-1.61 | $-0.14 | $402.61 | $1,219.66 | $901.36 | $437.25 | $-348.74 |
| Dividends Per Share | $0.00 | $0.32 | $0.00 | $1,263.17 | $1,620.43 | $0.00 | $0.03 |
| Shares Outstanding (Basic) | 119.2M ARS | 119.2M ARS | 118.4M ARS | 117.1M ARS | 116.7M ARS | 116.6M ARS | 116.6M ARS |
What to look at in Basic Materials
Miners, chemicals, steel. 100% commodity-driven. Analysing them with pure P/E is a mistake — look at cost position and dividend sustainability.
- FCF yield — In commodities FCF is gold — EPS is very misleading
- Gross margin — 5y consistent gross margin = moat signal
- Net debt / EBITDA (trough) — Use EBITDA from the worst year of the cycle, not the current one
- Dividend coverage — Dividend covered by FCF in an average year, not at peak
- Capex / D&A — >1x = maintain/grow reserves. <0.7x = decapitalising
- Altman Z-Score — Bankruptcy model (NYU 1968) — combines liquidity, leverage and profitability. Key in cyclicals
- P/B across cycles — Commodities: 0.8-1.2x at troughs, 2x+ at peaks. <2x still reasonable zone
Profitability
| Return on Equity | 4.06% |
| Return on Invested Capital | 2.44% |
| Return on Assets | 2.11% |
| Gross Margin | 21.53% |
| Operating Margin | 9.12% |
| Net Margin | 5.19% |
Financial Health
| Debt / Equity | 0.24 |
| Current Ratio | 2.25 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 2.38 |
Key Ratios (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| P/E | 10.67 | 1.85 | 2.03 | 23.49 | 64.91 | 1.87 | 80.94 |
| P/B | 1.51 | 0.91 | 0.58 | 0.39 | 1.04 | 1.81 | 2.05 |
| P/S | 0.77 | 0.50 | 0.18 | 0.14 | 0.73 | 2.05 | 2.22 |
| Gross Margin | 27.3% | 30.3% | 31.6% | 27.0% | 25.1% | 26.7% | 21.8% |
| Operating Margin | 18.2% | 20.8% | 22.0% | 17.4% | 14.8% | 15.2% | 9.6% |
| Net Margin | 10.9% | 27.3% | 8.9% | 1.3% | 2.4% | 22.0% | 2.8% |
Related companies: CPAC · CRML · HUN · IPX · LAC · NAK · REX
Explore sector: Basic Materials · Construction Materials
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