Amrize Ltd (AMRZ) 10-Year Financial Performance & Capital Metrics

AMRZ • • Industrial / General

Basic MaterialsConstruction MaterialsCement & Concrete ProductsIntegrated Cement Producers

AboutAmrize AG focuses on building materials business in North America. The company was incorporated in 2023 and is based in Zug, Switzerland. Amrize AG operates independently of Holcim AG as of June 23, 2025.Show more

Revenue $11.7B +0.2%
EBITDA $3.07B +11.9%
Net Income $1.42B +48.4%
EPS (Diluted) 2.30 +32.9%
Gross Margin 26.23% +10.6%
EBITDA Margin 26.2% +11.7%
Operating Margin 18.6% +15.0%
Net Margin 12.12% +48.1%
ROE 14.85% +35.2%
ROIC 9.2% +10.9%
Debt/Equity 0.96 -7.0%
Interest Coverage 7.21 +109.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 10.2%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg9.77%

5Y Avg9.77%

3Y Avg9.77%

Latest10.4%

Peer Comparison

Integrated Cement Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CRHCRH plc	81.95B	122.56	24.41	12.01%	9.27%	13.24%	2.89%	0.67
AMRZAmrize Ltd	30.15B	54.52	23.70	0.23%	11.65%	10.68%	5.44%	0.96
CXCEMEX, S.A.B. de C.V.	17.92B	12.35	20.25	-6.83%	8.61%	9.8%	3.34%	0.59
EXPEagle Materials Inc.	7.4B	230.76	16.76	0.05%	19.41%	29.07%	4.77%	0.88

Profit & Loss

	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	10.73B	11.68B	11.7B
Revenue Growth %	-	0.09%	0%
Cost of Goods Sold+	8.25B	8.91B	8.63B
COGS % of Revenue	0.77%	0.76%	0.74%
Gross Profit+	2.47B	2.77B	3.07B
Gross Margin %	0.23%	0.24%	0.26%
Gross Profit Growth %	-	0.12%	0.11%
Operating Expenses+	773M	881M	893M
OpEx % of Revenue	0.07%	0.08%	0.08%
Selling, General & Admin	752M	898M	962M
SG&A % of Revenue	0.07%	0.08%	0.08%
Research & Development	0	0	0
R&D % of Revenue	-	-	-
Other Operating Expenses	21M	-17M	-69M
Operating Income+	1.7B	1.89B	2.18B
Operating Margin %	0.16%	0.16%	0.19%
Operating Income Growth %	-	0.11%	0.15%
EBITDA+	2.49B	2.74B	3.07B
EBITDA Margin %	0.23%	0.23%	0.26%
EBITDA Growth %	-	0.1%	0.12%
D&A (Non-Cash Add-back)	788M	851M	889M
EBIT	1.71B	1.85B	2.12B
Net Interest Income+	-248M	-549M	-302M
Interest Income	0	0	0
Interest Expense	248M	549M	302M
Other Income/Expense	-226M	-572M	-344M
Pretax Income+	1.47B	1.32B	1.83B
Pretax Margin %	0.14%	0.11%	0.16%
Income Tax+	366M	361M	415M
Effective Tax Rate %	0.75%	0.73%	0.77%
Net Income+	1.11B	956M	1.42B
Net Margin %	0.1%	0.08%	0.12%
Net Income Growth %	-	-0.14%	0.48%
Net Income (Continuing)	1.11B	955M	1.42B
Discontinued Operations	0	0	0
Minority Interest	1M	0	-1M
EPS (Diluted)+	2.00	1.73	2.30
EPS Growth %	-	-0.14%	0.33%
EPS (Basic)	2.00	1.73	2.30
Diluted Shares Outstanding	552.7M	552.7M	553.3M
Basic Shares Outstanding	552.7M	552.7M	553.3M
Dividend Payout Ratio	-	-	-

Balance Sheet

	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.16B	3.94B	4.78B
Cash & Short-Term Investments	351M	1.11B	1.58B
Cash Only	351M	1.11B	1.58B
Short-Term Investments	0	0	0
Accounts Receivable	1.41B	1.4B	1.63B
Days Sales Outstanding	47.98	43.7	50.86
Inventory	1.23B	1.31B	1.45B
Days Inventory Outstanding	54.3	53.55	61.38
Other Current Assets	51M	40M	20M
Total Non-Current Assets+	17.51B	19.11B	19.02B
Property, Plant & Equipment	7.75B	8.07B	8.08B
Fixed Asset Turnover	1.38x	1.45x	1.45x
Goodwill	8.12B	8.97B	8.92B
Intangible Assets	1.44B	1.88B	1.83B
Long-Term Investments	0	0	56M
Other Non-Current Assets	202M	184M	138M
Total Assets+	20.67B	23.05B	23.8B
Asset Turnover	0.52x	0.51x	0.49x
Asset Growth %	-	0.11%	0.03%
Total Current Liabilities+	2.25B	2.44B	2.55B
Accounts Payable	1.14B	1.25B	1.29B
Days Payables Outstanding	50.59	51.14	54.66
Short-Term Debt	348M	131M	348M
Deferred Revenue (Current)	1000K	1000K	1000K
Other Current Liabilities	464M	532M	392M
Current Ratio	1.40x	1.61x	1.87x
Quick Ratio	0.86x	1.08x	1.31x
Cash Conversion Cycle	51.7	46.12	57.59
Total Non-Current Liabilities+	10.21B	11.4B	11.34B
Long-Term Debt	7.62B	8.64B	8.5B
Capital Lease Obligations	516M	564M	698M
Deferred Tax Liabilities	944M	998M	1.1B
Other Non-Current Liabilities	873M	930M	701M
Total Liabilities	12.46B	13.84B	13.89B
Total Debt+	8.66B	9.52B	9.54B
Net Debt	8.31B	8.42B	7.96B
Debt / Equity	1.05x	1.03x	0.96x
Debt / EBITDA	3.48x	3.48x	3.11x
Net Debt / EBITDA	3.34x	3.07x	2.60x
Interest Coverage	6.85x	3.44x	7.21x
Total Equity+	8.21B	9.2B	9.91B
Equity Growth %	-	0.12%	0.08%
Book Value per Share	14.85	16.65	17.92
Total Shareholders' Equity	8.21B	9.2B	9.91B
Common Stock	0	0	0
Retained Earnings	0	0	0
Treasury Stock	0	0	0
Accumulated OCI	-372M	-317M	9.91B
Minority Interest	1M	0	-1M

Cash Flow

	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.99B	2.04B	2.28B
Operating CF Margin %	0.19%	0.17%	0.19%
Operating CF Growth %	-	0.02%	0.12%
Net Income	1.11B	955M	1.27B
Depreciation & Amortization	788M	851M	889M
Stock-Based Compensation	4M	5M	6M
Deferred Taxes	66M	11M	-35M
Other Non-Cash Items	9M	97M	111M
Working Capital Changes	14M	117M	38M
Change in Receivables	35M	-82M	189M
Change in Inventory	-296M	-7M	-146M
Change in Payables	195M	60M	28M
Cash from Investing+	-2.52B	-2.02B	-1.21B
Capital Expenditures	-488M	-630M	-642M
CapEx % of Revenue	0.05%	0.05%	0.05%
Acquisitions	-	-	-
Investments	-	-	-
Other Investing	0	212M	-317M
Cash from Financing+	497M	734M	-537M
Debt Issued (Net)	-	-	-
Equity Issued (Net)	-	-	-
Dividends Paid	0	0	0
Share Repurchases	-	-	-
Other Financing	-228M	-13M	-312M
Net Change in Cash	-	-	-
Free Cash Flow+	1.5B	1.41B	1.64B
FCF Margin %	0.14%	0.12%	0.14%
FCF Growth %	-	-0.06%	0.17%
FCF per Share	2.71	2.54	2.96
FCF Conversion (FCF/Net Income)	1.79x	2.13x	1.61x
Interest Paid	0	0	0
Taxes Paid	0	0	0

Key Ratios

Metric	2022	2023	2024
Return on Equity (ROE)	13.5%	10.98%	14.85%
Return on Invested Capital (ROIC)	7.71%	8.3%	9.2%
Gross Margin	23.05%	23.71%	26.23%
Net Margin	10.33%	8.19%	12.12%
Debt / Equity	1.05x	1.03x	0.96x
Interest Coverage	6.85x	3.44x	7.21x
FCF Conversion	1.79x	2.13x	1.61x
Revenue Growth	-	8.87%	0.23%

Frequently Asked Questions

Valuation & Price

Amrize Ltd (AMRZ) has a price-to-earnings (P/E) ratio of 23.7x. This is roughly in line with market averages.

Growth & Financials

Amrize Ltd (AMRZ) reported $11.82B in revenue for fiscal year 2024. This represents a 10% increase from $10.73B in 2022.

Amrize Ltd (AMRZ) grew revenue by 0.2% over the past year. Growth has been modest.

Yes, Amrize Ltd (AMRZ) is profitable, generating $1.38B in net income for fiscal year 2024 (12.1% net margin).

Dividend & Returns

Amrize Ltd (AMRZ) has a return on equity (ROE) of 14.8%. This is reasonable for most industries.

Amrize Ltd (AMRZ) generated $1.42B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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