Vulcan Materials Company (VMC) 10-Year Financial Performance & Capital Metrics

VMC • • Industrial / General

Basic MaterialsConstruction MaterialsAggregates & Heavy Construction MaterialsAggregates-Focused Producers

AboutVulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities. The Asphalt Mix segment offers asphalt mix in Alabama, Arizona, California, New Mexico, Tennessee, and Texas, as well as engages in the asphalt construction paving activity in Alabama, Tennessee, and Texas. The Concrete segment provides ready-mixed concrete in California, Maryland, New Jersey, New York, Oklahoma, Pennsylvania, Texas and Virginia, and Washington D.C. The Calcium segment mines, produces, and sells calcium products for the animal feed, plastics, and water treatment industries. The company was formerly known as Virginia Holdco, Inc. and changed its name to Vulcan Materials Company. Vulcan Materials Company was founded in 1909 and is headquartered in Birmingham, Alabama.Show more

Revenue $7.42B -4.7%
EBITDA $1.98B -2.4%
Net Income $912M -2.3%
EPS (Diluted) 6.85 -1.9%
Gross Margin 26.96% +7.7%
EBITDA Margin 26.72% +2.4%
Operating Margin 18.4% +0.3%
Net Margin 12.29% +2.5%
ROE 11.65% -9.7%
ROIC 8.4% -12.6%
Debt/Equity 0.72 +22.6%
Interest Coverage 7.14 -2.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓11 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 11.3%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.5%

5Y8.52%

3Y10.14%

TTM6.42%

Profit (Net Income) CAGR

10Y16.1%

5Y8.1%

3Y10.78%

TTM32.75%

EPS CAGR

10Y16.1%

5Y8.15%

3Y10.92%

TTM32.81%

ROCE

10Y Avg8.43%

5Y Avg8.85%

3Y Avg9.01%

Latest9.22%

Peer Comparison

Aggregates-Focused Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VMCVulcan Materials Company	39.87B	301.71	44.05	-4.68%	14.26%	12.82%	2.02%	0.72
KNFKnife River Corporation	4.55B	80.24	22.60	2.43%	4.87%	9.23%	3.3%	0.49
MLMMartin Marietta Materials, Inc.	38.65B	640.94	19.78	-3.56%	17.35%	11.83%	1.56%	0.61

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.42B	3.59B	3.89B	4.38B	4.93B	4.86B	5.55B	7.32B	7.78B	7.42B
Revenue Growth %	0.14%	0.05%	0.08%	0.13%	0.12%	-0.01%	0.14%	0.32%	0.06%	-0.05%
Cost of Goods Sold+	2.56B	2.6B	2.9B	3.28B	3.67B	3.58B	4.18B	5.76B	5.83B	5.42B
COGS % of Revenue	0.75%	0.72%	0.74%	0.75%	0.75%	0.74%	0.75%	0.79%	0.75%	0.73%
Gross Profit+	857.53M	988.88M	993.51M	1.1B	1.26B	1.28B	1.37B	1.56B	1.95B	2B
Gross Margin %	0.25%	0.28%	0.26%	0.25%	0.25%	0.26%	0.25%	0.21%	0.25%	0.27%
Gross Profit Growth %	0.46%	0.15%	0%	0.11%	0.14%	0.02%	0.07%	0.13%	0.25%	0.03%
Operating Expenses+	307.75M	322.98M	354.47M	353.23M	378.4M	385.8M	362.6M	606.3M	521.1M	635.1M
OpEx % of Revenue	0.09%	0.09%	0.09%	0.08%	0.08%	0.08%	0.07%	0.08%	0.07%	0.09%
Selling, General & Admin	286.84M	316.77M	324.97M	333.37M	370.5M	359.8M	417.6M	515.1M	542.8M	531.1M
SG&A % of Revenue	0.08%	0.09%	0.08%	0.08%	0.08%	0.07%	0.08%	0.07%	0.07%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	20.91M	6.21M	29.5M	19.86M	7.9M	26M	-55M	91.2M	-21.7M	104M
Operating Income+	549.78M	665.9M	639.04M	747.71M	877.5M	895.7M	1.01B	951.4M	1.43B	1.36B
Operating Margin %	0.16%	0.19%	0.16%	0.17%	0.18%	0.18%	0.18%	0.13%	0.18%	0.18%
Operating Income Growth %	0.02%	0.21%	-0.04%	0.17%	0.17%	0.02%	0.13%	-0.06%	0.5%	-0.04%
EBITDA+	813.13M	950.84M	945.01M	1.09B	1.25B	1.29B	1.46B	1.52B	2.03B	1.98B
EBITDA Margin %	0.24%	0.26%	0.24%	0.25%	0.25%	0.27%	0.26%	0.21%	0.26%	0.27%
EBITDA Growth %	0.01%	0.17%	-0.01%	0.16%	0.14%	0.03%	0.13%	0.04%	0.33%	-0.02%
D&A (Non-Cash Add-back)	263.35M	284.94M	305.96M	346.25M	374.6M	396.8M	449.9M	573.4M	603.1M	617.5M
EBIT	548.45M	681.33M	656.84M	761.27M	887.9M	879.8M	1.02B	957.3M	1.44B	1.36B
Net Interest Income+	-220.24M	-133.27M	-291.08M	-137.42M	-129M	-134.4M	-147.7M	-168.4M	-179.6M	-170.3M
Interest Income	345K	807K	4.44M	554K	1.16M	1.6M	1.6M	800K	16.5M	20.9M
Interest Expense	220.59M	134.08M	295.52M	137.98M	130.2M	136M	149.3M	169.2M	196.1M	191.2M
Other Income/Expense	-221.92M	-118.64M	-277.73M	-124.42M	-119.8M	-151.9M	-137M	-163.3M	-182.3M	-192.4M
Pretax Income+	327.86M	547.26M	361.32M	623.29M	757.7M	743.8M	873.8M	788.1M	1.25B	1.17B
Pretax Margin %	0.1%	0.15%	0.09%	0.14%	0.15%	0.15%	0.16%	0.11%	0.16%	0.16%
Income Tax+	94.94M	124.85M	-232.07M	105.45M	135.2M	155.8M	200.1M	193M	299.4M	251.4M
Effective Tax Rate %	0.67%	0.77%	1.66%	0.83%	0.82%	0.79%	0.77%	0.73%	0.75%	0.78%
Net Income+	221.18M	419.49M	601.18M	515.8M	617.66M	584.5M	670.8M	575.6M	933.2M	911.9M
Net Margin %	0.06%	0.12%	0.15%	0.12%	0.13%	0.12%	0.12%	0.08%	0.12%	0.12%
Net Income Growth %	0.08%	0.9%	0.43%	-0.14%	0.2%	-0.05%	0.15%	-0.14%	0.62%	-0.02%
Net Income (Continuing)	232.91M	422.41M	593.39M	517.84M	622.5M	588M	673.7M	595.1M	945.7M	920.7M
Discontinued Operations	0	0	7.79M	0	-4.8M	-3.5M	-3.3M	-18.6M	-10.8M	-7.6M
Minority Interest	0	0	0	0	0	0	22.7M	23.6M	24.5M	23.9M
EPS (Diluted)+	1.64	3.09	4.46	3.85	4.63	4.39	5.02	4.31	6.98	6.85
EPS Growth %	0.06%	0.88%	0.44%	-0.14%	0.2%	-0.05%	0.14%	-0.14%	0.62%	-0.02%
EPS (Basic)	1.66	3.15	4.54	3.90	4.67	4.41	5.05	4.33	7.02	6.89
Diluted Shares Outstanding	135.09M	135.79M	134.88M	133.93M	133.38M	133.25M	133.5M	133.6M	133.7M	133.1M
Basic Shares Outstanding	133.21M	133.21M	132.51M	132.39M	132.3M	132.58M	132.8M	133M	133M	132.3M
Dividend Payout Ratio	0.24%	0.25%	0.22%	0.29%	0.27%	0.31%	0.29%	0.37%	0.24%	0.27%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.08B	1.12B	1.18B	1.08B	1.38B	2.28B	1.69B	1.9B	2.52B	2.27B
Cash & Short-Term Investments	284.06M	258.99M	141.65M	40.04M	271.59M	1.2B	235M	161.4M	931.1M	559.7M
Cash Only	284.06M	258.99M	141.65M	40.04M	271.59M	1.2B	235M	161.4M	931.1M	559.7M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	418.02M	491.82M	588.34M	540.78M	570.12M	556.3M	838.7M	1.05B	889.7M	892.3M
Days Sales Outstanding	44.59	49.97	55.2	45.04	42.22	41.81	55.14	52.16	41.73	43.91
Inventory	347.07M	345.62M	384.34M	429.33M	458.31M	448.58M	521.3M	579.3M	615.6M	681.8M
Days Inventory Outstanding	49.4	48.45	48.43	47.75	45.54	45.8	45.53	36.73	38.52	45.93
Other Current Assets	1.15M	9.03M	5M	69M	79.31M	75.2M	101.6M	116M	88.5M	131.9M
Total Non-Current Assets+	7.22B	7.33B	8.32B	8.75B	9.27B	9.41B	11.99B	12.33B	12.02B	14.84B
Property, Plant & Equipment	3.16B	3.26B	3.92B	4.24B	4.72B	4.85B	6.24B	6.62B	6.73B	8.99B
Fixed Asset Turnover	1.08x	1.10x	0.99x	1.03x	1.04x	1.00x	0.89x	1.10x	1.16x	0.83x
Goodwill	3.09B	3.09B	3.12B	3.17B	3.17B	3.17B	3.7B	3.69B	3.53B	3.79B
Intangible Assets	766.58M	769.05M	1.06B	1.1B	1.09B	1.12B	1.75B	1.7B	1.46B	1.71B
Long-Term Investments	40.56M	39.23M	35.12M	44.62M	60.71M	34.3M	34.1M	31.8M	31.3M	31.3M
Other Non-Current Assets	158.79M	169.75M	184.79M	210.29M	226M	230.7M	268M	285.2M	267.7M	317.1M
Total Assets+	8.3B	8.45B	9.5B	9.83B	10.65B	11.69B	13.68B	14.23B	14.55B	17.1B
Asset Turnover	0.41x	0.42x	0.41x	0.45x	0.46x	0.42x	0.41x	0.51x	0.53x	0.43x
Asset Growth %	0.03%	0.02%	0.12%	0.03%	0.08%	0.1%	0.17%	0.04%	0.02%	0.18%
Total Current Liabilities+	353.48M	372.24M	442.87M	602.55M	535.56M	1.05B	769.3M	956.6M	797.6M	1.24B
Accounts Payable	175.73M	145.04M	197.34M	216.47M	265.16M	273.1M	365.5M	454.5M	390.4M	407M
Days Payables Outstanding	25.01	20.33	24.86	24.08	26.35	27.88	31.92	28.81	24.43	27.42
Short-Term Debt	130K	138K	41.38M	133.02M	25K	515.4M	5.2M	100.5M	500K	400.5M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	76.43M	125.86M	105.28M	141.46M	153.98M	147.8M	258.5M	268.9M	238.1M	276.2M
Current Ratio	3.07x	3.01x	2.66x	1.79x	2.58x	2.17x	2.20x	1.99x	3.17x	1.83x
Quick Ratio	2.09x	2.08x	1.80x	1.08x	1.72x	1.74x	1.52x	1.38x	2.39x	1.28x
Cash Conversion Cycle	68.97	78.08	78.76	68.71	61.41	59.72	68.74	60.07	55.82	62.42
Total Non-Current Liabilities+	3.49B	3.53B	4.09B	4.03B	4.49B	4.61B	6.35B	6.33B	6.24B	7.72B
Long-Term Debt	1.98B	1.98B	2.81B	2.78B	2.78B	2.77B	3.87B	3.88B	3.88B	4.91B
Capital Lease Obligations	0	0	0	0	388.04M	399.6M	642.5M	548.4M	507.4M	521.4M
Deferred Tax Liabilities	681.1M	702.85M	464.08M	567.28M	633.04M	706.1M	1.01B	1.07B	1.03B	1.34B
Other Non-Current Liabilities	624.88M	642.76M	624.09M	493.64M	506.1M	559.8M	655.3M	669.6M	681.3M	820.6M
Total Liabilities	3.85B	3.9B	4.54B	4.63B	5.03B	5.66B	7.11B	7.28B	7.04B	8.96B
Total Debt+	1.98B	1.98B	2.85B	2.91B	3.17B	3.69B	4.52B	4.52B	4.39B	5.83B
Net Debt	1.7B	1.72B	2.71B	2.87B	2.9B	2.49B	4.29B	4.36B	3.45B	5.27B
Debt / Equity	0.44x	0.43x	0.57x	0.56x	0.56x	0.61x	0.69x	0.65x	0.58x	0.72x
Debt / EBITDA	2.44x	2.09x	3.02x	2.66x	2.53x	2.85x	3.10x	2.97x	2.16x	2.94x
Net Debt / EBITDA	2.09x	1.81x	2.87x	2.63x	2.32x	1.93x	2.94x	2.86x	1.70x	2.66x
Interest Coverage	2.49x	4.97x	2.16x	5.42x	6.74x	6.59x	6.77x	5.62x	7.28x	7.14x
Total Equity+	4.45B	4.57B	4.97B	5.2B	5.62B	6.03B	6.57B	6.95B	7.51B	8.14B
Equity Growth %	0.07%	0.03%	0.09%	0.05%	0.08%	0.07%	0.09%	0.06%	0.08%	0.08%
Book Value per Share	32.97	33.67	36.84	38.85	42.15	45.23	49.20	52.04	56.15	61.18
Total Shareholders' Equity	4.45B	4.57B	4.97B	5.2B	5.62B	6.03B	6.54B	6.93B	7.48B	8.12B
Common Stock	133.17M	132.34M	132.32M	131.76M	132.37M	132.5M	132.7M	132.9M	132.1M	132.1M
Retained Earnings	1.62B	1.77B	2.18B	2.44B	2.9B	3.27B	3.75B	4.11B	4.62B	5.21B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-120.07M	-139.38M	-149.47M	-172.22M	-197.74M	-181.3M	-152.7M	-154.7M	-143.8M	-127.4M
Minority Interest	0	0	0	0	0	0	22.7M	23.6M	24.5M	23.9M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	503.38M	644.59M	644.68M	832.78M	984.12M	1.07B	1.01B	1.15B	1.54B	1.41B
Operating CF Margin %	0.15%	0.18%	0.17%	0.19%	0.2%	0.22%	0.18%	0.16%	0.2%	0.19%
Operating CF Growth %	0.93%	0.28%	0%	0.29%	0.18%	0.09%	-0.05%	0.13%	0.34%	-0.08%
Net Income	221.18M	419.49M	601.18M	515.8M	617.66M	584.48M	670.4M	576.5M	914.6M	913.1M
Depreciation & Amortization	245.17M	256.07M	275.21M	331.3M	350.84M	392.81M	418.7M	587.5M	617M	632.2M
Stock-Based Compensation	18.25M	20.67M	26.64M	25.21M	31.84M	33M	34.7M	41.1M	63.2M	53.4M
Deferred Taxes	3.07M	33.59M	-235.7M	64.64M	76.01M	62.02M	66.8M	57.7M	-43.3M	-9.4M
Other Non-Cash Items	35.67M	5.35M	115.94M	-112.15M	50.19M	30.75M	-34.8M	109.7M	18.7M	97.7M
Working Capital Changes	-23.12M	-92.79M	-169.35M	-6.97M	-147.22M	-32.7M	-143.9M	-224.3M	-33.4M	-277.4M
Change in Receivables	-42.16M	-72.76M	-81.56M	63.23M	-29.73M	13.4M	-42M	-53.3M	28.2M	63.2M
Change in Inventory	-20.93M	1.63M	-14.12M	-34.98M	-28.27M	9.8M	8.3M	-49.5M	0	-27.4M
Change in Payables	26.49M	30.35M	9.82M	40.18M	21.79M	0	-23.3M	-17.4M	-25.1M	-193M
Cash from Investing+	-309.74M	-365.08M	-1.27B	-669.89M	-415.84M	-381.51M	-1.87B	-1.05B	-163.5M	-2.81B
Capital Expenditures	-289.26M	-350.15M	-459.57M	-469.09M	-384.09M	-362.19M	-451.3M	-612.6M	-872.6M	-603.5M
CapEx % of Revenue	0.08%	0.1%	0.12%	0.11%	0.08%	0.07%	0.08%	0.08%	0.11%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	6.72M	17.61M	12.51M	9.36M	10.66M	22.93M	216.6M	38.8M	94.6M	54.8M
Cash from Financing+	-50.85M	-304.58M	503.44M	-265.13M	-338.18M	234.66M	-94.3M	-175.2M	-585.6M	1.06B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-53.21M	-106.33M	-132.34M	-148.11M	-163.97M	-180.22M	-196.4M	-212.6M	-228.4M	-244.4M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	18.31M	-36.66M	-40.61M	-28.47M	-87K	-57.39M	-300K	-33.6M	-53.3M	-66.4M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	214.12M	294.44M	185.11M	363.69M	600.03M	708.16M	560.6M	535.6M	664.2M	806.1M
FCF Margin %	0.06%	0.08%	0.05%	0.08%	0.12%	0.15%	0.1%	0.07%	0.09%	0.11%
FCF Growth %	5.03%	0.38%	-0.37%	0.96%	0.65%	0.18%	-0.21%	-0.04%	0.24%	0.21%
FCF per Share	1.58	2.17	1.37	2.72	4.50	5.31	4.20	4.01	4.97	6.06
FCF Conversion (FCF/Net Income)	2.28x	1.54x	1.07x	1.61x	1.59x	1.83x	1.51x	1.99x	1.65x	1.55x
Interest Paid	0	0	0	0	0	0	138M	164.3M	178.7M	182.9M
Taxes Paid	0	0	0	0	0	0	127.9M	143.5M	291.7M	279.8M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.13%	9.29%	12.6%	10.14%	11.41%	10.04%	10.65%	8.51%	12.91%	11.65%
Return on Invested Capital (ROIC)	6.78%	8.02%	6.86%	7.12%	7.93%	7.88%	7.83%	6.44%	9.61%	8.4%
Gross Margin	25.06%	27.53%	25.54%	25.12%	25.48%	26.39%	24.74%	21.29%	25.04%	26.96%
Net Margin	6.46%	11.68%	15.45%	11.77%	12.53%	12.03%	12.08%	7.87%	11.99%	12.29%
Debt / Equity	0.44x	0.43x	0.57x	0.56x	0.56x	0.61x	0.69x	0.65x	0.58x	0.72x
Interest Coverage	2.49x	4.97x	2.16x	5.42x	6.74x	6.59x	6.77x	5.62x	7.28x	7.14x
FCF Conversion	2.28x	1.54x	1.07x	1.61x	1.59x	1.83x	1.51x	1.99x	1.65x	1.55x
Revenue Growth	14.29%	4.98%	8.28%	12.66%	12.46%	-1.47%	14.32%	31.75%	6.38%	-4.68%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Aggregates	2.78B	2.96B	3.1B	3.51B	3.67B	3.67B	4.34B	5.27B	5.91B	5.95B
Aggregates Growth	-	6.63%	4.53%	13.49%	4.43%	0.09%	18.30%	21.35%	12.08%	0.67%
Asphalt	-	-	622.07M	733.18M	855.82M	792.61M	777.8M	990.2M	1.14B	1.25B
Asphalt Growth	-	-	-	17.86%	16.73%	-7.39%	-1.87%	27.31%	15.20%	9.20%
Concrete	299.25M	330.13M	417.75M	402M	395.63M	383.62M	766.8M	1.59B	1.25B	653.5M
Concrete Growth	-	10.32%	26.54%	-3.77%	-1.59%	-3.04%	99.89%	107.86%	-21.62%	-47.69%
Calcium	8.6M	8.86M	7.74M	8.11M	8.19M	7.72M	6.9M	7.8M	9M	-
Calcium Growth	-	3.07%	-12.64%	4.78%	1.00%	-5.75%	-10.62%	13.04%	15.38%	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Gulf Coast	-	-	-	2.03B	2.39B	2.42B	2.61B	3.7B	4.11B	3.53B
Gulf Coast Growth	-	-	-	-	17.37%	1.50%	7.84%	41.78%	10.83%	-14.03%
East	-	-	-	1.52B	1.68B	1.6B	1.67B	2.38B	2.23B	2.3B
East Growth	-	-	-	-	10.45%	-4.67%	4.08%	42.54%	-6.31%	3.02%
West	-	-	-	1.1B	1.18B	1.1B	1.1B	1.78B	1.97B	2.02B
West Growth	-	-	-	-	7.32%	-6.69%	-0.10%	61.83%	10.84%	2.46%
Non Us	-	13.24M	17.8M	-	-	-	-	-	-	-
Non Us Growth	-	-	34.46%	-	-	-	-	-	-	-
Nondomestic	11.41M	-	-	-	-	-	-	-	-	-
Nondomestic Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Vulcan Materials Company (VMC) has a price-to-earnings (P/E) ratio of 44.0x. This suggests investors expect higher future growth.

Growth & Financials

Vulcan Materials Company (VMC) reported $7.87B in revenue for fiscal year 2024. This represents a 207% increase from $2.56B in 2011.

Vulcan Materials Company (VMC) saw revenue decline by 4.7% over the past year.

Yes, Vulcan Materials Company (VMC) is profitable, generating $1.12B in net income for fiscal year 2024 (12.3% net margin).

Dividend & Returns

Yes, Vulcan Materials Company (VMC) pays a dividend with a yield of 0.61%. This makes it attractive for income-focused investors.

Vulcan Materials Company (VMC) has a return on equity (ROE) of 11.7%. This is reasonable for most industries.

Vulcan Materials Company (VMC) generated $1.05B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Vulcan Materials Company (VMC) 10-Year Financial Performance & Capital Metrics

VMC • • Industrial / General

Basic MaterialsConstruction MaterialsAggregates & Heavy Construction MaterialsAggregates-Focused Producers

Revenue $7.42B -4.7%
EBITDA $1.98B -2.4%
Net Income $912M -2.3%
EPS (Diluted) 6.85 -1.9%
Gross Margin 26.96% +7.7%
EBITDA Margin 26.72% +2.4%
Operating Margin 18.4% +0.3%
Net Margin 12.29% +2.5%
ROE 11.65% -9.7%
ROIC 8.4% -12.6%
Debt/Equity 0.72 +22.6%
Interest Coverage 7.14 -2.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓11 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 11.3%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y9.5%

5Y8.52%

3Y10.14%

TTM6.42%

Profit (Net Income) CAGR

10Y16.1%

5Y8.1%

3Y10.78%

TTM32.75%

EPS CAGR

10Y16.1%

5Y8.15%

3Y10.92%

TTM32.81%

ROCE

10Y Avg8.43%

5Y Avg8.85%

3Y Avg9.01%

Latest9.22%

Peer Comparison

Aggregates-Focused Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VMCVulcan Materials Company	39.87B	301.71	44.05	-4.68%	14.26%	12.82%	2.02%	0.72
KNFKnife River Corporation	4.55B	80.24	22.60	2.43%	4.87%	9.23%	3.3%	0.49
MLMMartin Marietta Materials, Inc.	38.65B	640.94	19.78	-3.56%	17.35%	11.83%	1.56%	0.61

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.42B	3.59B	3.89B	4.38B	4.93B	4.86B	5.55B	7.32B	7.78B	7.42B
Revenue Growth %	0.14%	0.05%	0.08%	0.13%	0.12%	-0.01%	0.14%	0.32%	0.06%	-0.05%
Cost of Goods Sold+	2.56B	2.6B	2.9B	3.28B	3.67B	3.58B	4.18B	5.76B	5.83B	5.42B
COGS % of Revenue	0.75%	0.72%	0.74%	0.75%	0.75%	0.74%	0.75%	0.79%	0.75%	0.73%
Gross Profit+	857.53M	988.88M	993.51M	1.1B	1.26B	1.28B	1.37B	1.56B	1.95B	2B
Gross Margin %	0.25%	0.28%	0.26%	0.25%	0.25%	0.26%	0.25%	0.21%	0.25%	0.27%
Gross Profit Growth %	0.46%	0.15%	0%	0.11%	0.14%	0.02%	0.07%	0.13%	0.25%	0.03%
Operating Expenses+	307.75M	322.98M	354.47M	353.23M	378.4M	385.8M	362.6M	606.3M	521.1M	635.1M
OpEx % of Revenue	0.09%	0.09%	0.09%	0.08%	0.08%	0.08%	0.07%	0.08%	0.07%	0.09%
Selling, General & Admin	286.84M	316.77M	324.97M	333.37M	370.5M	359.8M	417.6M	515.1M	542.8M	531.1M
SG&A % of Revenue	0.08%	0.09%	0.08%	0.08%	0.08%	0.07%	0.08%	0.07%	0.07%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	20.91M	6.21M	29.5M	19.86M	7.9M	26M	-55M	91.2M	-21.7M	104M
Operating Income+	549.78M	665.9M	639.04M	747.71M	877.5M	895.7M	1.01B	951.4M	1.43B	1.36B
Operating Margin %	0.16%	0.19%	0.16%	0.17%	0.18%	0.18%	0.18%	0.13%	0.18%	0.18%
Operating Income Growth %	0.02%	0.21%	-0.04%	0.17%	0.17%	0.02%	0.13%	-0.06%	0.5%	-0.04%
EBITDA+	813.13M	950.84M	945.01M	1.09B	1.25B	1.29B	1.46B	1.52B	2.03B	1.98B
EBITDA Margin %	0.24%	0.26%	0.24%	0.25%	0.25%	0.27%	0.26%	0.21%	0.26%	0.27%
EBITDA Growth %	0.01%	0.17%	-0.01%	0.16%	0.14%	0.03%	0.13%	0.04%	0.33%	-0.02%
D&A (Non-Cash Add-back)	263.35M	284.94M	305.96M	346.25M	374.6M	396.8M	449.9M	573.4M	603.1M	617.5M
EBIT	548.45M	681.33M	656.84M	761.27M	887.9M	879.8M	1.02B	957.3M	1.44B	1.36B
Net Interest Income+	-220.24M	-133.27M	-291.08M	-137.42M	-129M	-134.4M	-147.7M	-168.4M	-179.6M	-170.3M
Interest Income	345K	807K	4.44M	554K	1.16M	1.6M	1.6M	800K	16.5M	20.9M
Interest Expense	220.59M	134.08M	295.52M	137.98M	130.2M	136M	149.3M	169.2M	196.1M	191.2M
Other Income/Expense	-221.92M	-118.64M	-277.73M	-124.42M	-119.8M	-151.9M	-137M	-163.3M	-182.3M	-192.4M
Pretax Income+	327.86M	547.26M	361.32M	623.29M	757.7M	743.8M	873.8M	788.1M	1.25B	1.17B
Pretax Margin %	0.1%	0.15%	0.09%	0.14%	0.15%	0.15%	0.16%	0.11%	0.16%	0.16%
Income Tax+	94.94M	124.85M	-232.07M	105.45M	135.2M	155.8M	200.1M	193M	299.4M	251.4M
Effective Tax Rate %	0.67%	0.77%	1.66%	0.83%	0.82%	0.79%	0.77%	0.73%	0.75%	0.78%
Net Income+	221.18M	419.49M	601.18M	515.8M	617.66M	584.5M	670.8M	575.6M	933.2M	911.9M
Net Margin %	0.06%	0.12%	0.15%	0.12%	0.13%	0.12%	0.12%	0.08%	0.12%	0.12%
Net Income Growth %	0.08%	0.9%	0.43%	-0.14%	0.2%	-0.05%	0.15%	-0.14%	0.62%	-0.02%
Net Income (Continuing)	232.91M	422.41M	593.39M	517.84M	622.5M	588M	673.7M	595.1M	945.7M	920.7M
Discontinued Operations	0	0	7.79M	0	-4.8M	-3.5M	-3.3M	-18.6M	-10.8M	-7.6M
Minority Interest	0	0	0	0	0	0	22.7M	23.6M	24.5M	23.9M
EPS (Diluted)+	1.64	3.09	4.46	3.85	4.63	4.39	5.02	4.31	6.98	6.85
EPS Growth %	0.06%	0.88%	0.44%	-0.14%	0.2%	-0.05%	0.14%	-0.14%	0.62%	-0.02%
EPS (Basic)	1.66	3.15	4.54	3.90	4.67	4.41	5.05	4.33	7.02	6.89
Diluted Shares Outstanding	135.09M	135.79M	134.88M	133.93M	133.38M	133.25M	133.5M	133.6M	133.7M	133.1M
Basic Shares Outstanding	133.21M	133.21M	132.51M	132.39M	132.3M	132.58M	132.8M	133M	133M	132.3M
Dividend Payout Ratio	0.24%	0.25%	0.22%	0.29%	0.27%	0.31%	0.29%	0.37%	0.24%	0.27%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.08B	1.12B	1.18B	1.08B	1.38B	2.28B	1.69B	1.9B	2.52B	2.27B
Cash & Short-Term Investments	284.06M	258.99M	141.65M	40.04M	271.59M	1.2B	235M	161.4M	931.1M	559.7M
Cash Only	284.06M	258.99M	141.65M	40.04M	271.59M	1.2B	235M	161.4M	931.1M	559.7M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	418.02M	491.82M	588.34M	540.78M	570.12M	556.3M	838.7M	1.05B	889.7M	892.3M
Days Sales Outstanding	44.59	49.97	55.2	45.04	42.22	41.81	55.14	52.16	41.73	43.91
Inventory	347.07M	345.62M	384.34M	429.33M	458.31M	448.58M	521.3M	579.3M	615.6M	681.8M
Days Inventory Outstanding	49.4	48.45	48.43	47.75	45.54	45.8	45.53	36.73	38.52	45.93
Other Current Assets	1.15M	9.03M	5M	69M	79.31M	75.2M	101.6M	116M	88.5M	131.9M
Total Non-Current Assets+	7.22B	7.33B	8.32B	8.75B	9.27B	9.41B	11.99B	12.33B	12.02B	14.84B
Property, Plant & Equipment	3.16B	3.26B	3.92B	4.24B	4.72B	4.85B	6.24B	6.62B	6.73B	8.99B
Fixed Asset Turnover	1.08x	1.10x	0.99x	1.03x	1.04x	1.00x	0.89x	1.10x	1.16x	0.83x
Goodwill	3.09B	3.09B	3.12B	3.17B	3.17B	3.17B	3.7B	3.69B	3.53B	3.79B
Intangible Assets	766.58M	769.05M	1.06B	1.1B	1.09B	1.12B	1.75B	1.7B	1.46B	1.71B
Long-Term Investments	40.56M	39.23M	35.12M	44.62M	60.71M	34.3M	34.1M	31.8M	31.3M	31.3M
Other Non-Current Assets	158.79M	169.75M	184.79M	210.29M	226M	230.7M	268M	285.2M	267.7M	317.1M
Total Assets+	8.3B	8.45B	9.5B	9.83B	10.65B	11.69B	13.68B	14.23B	14.55B	17.1B
Asset Turnover	0.41x	0.42x	0.41x	0.45x	0.46x	0.42x	0.41x	0.51x	0.53x	0.43x
Asset Growth %	0.03%	0.02%	0.12%	0.03%	0.08%	0.1%	0.17%	0.04%	0.02%	0.18%
Total Current Liabilities+	353.48M	372.24M	442.87M	602.55M	535.56M	1.05B	769.3M	956.6M	797.6M	1.24B
Accounts Payable	175.73M	145.04M	197.34M	216.47M	265.16M	273.1M	365.5M	454.5M	390.4M	407M
Days Payables Outstanding	25.01	20.33	24.86	24.08	26.35	27.88	31.92	28.81	24.43	27.42
Short-Term Debt	130K	138K	41.38M	133.02M	25K	515.4M	5.2M	100.5M	500K	400.5M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	76.43M	125.86M	105.28M	141.46M	153.98M	147.8M	258.5M	268.9M	238.1M	276.2M
Current Ratio	3.07x	3.01x	2.66x	1.79x	2.58x	2.17x	2.20x	1.99x	3.17x	1.83x
Quick Ratio	2.09x	2.08x	1.80x	1.08x	1.72x	1.74x	1.52x	1.38x	2.39x	1.28x
Cash Conversion Cycle	68.97	78.08	78.76	68.71	61.41	59.72	68.74	60.07	55.82	62.42
Total Non-Current Liabilities+	3.49B	3.53B	4.09B	4.03B	4.49B	4.61B	6.35B	6.33B	6.24B	7.72B
Long-Term Debt	1.98B	1.98B	2.81B	2.78B	2.78B	2.77B	3.87B	3.88B	3.88B	4.91B
Capital Lease Obligations	0	0	0	0	388.04M	399.6M	642.5M	548.4M	507.4M	521.4M
Deferred Tax Liabilities	681.1M	702.85M	464.08M	567.28M	633.04M	706.1M	1.01B	1.07B	1.03B	1.34B
Other Non-Current Liabilities	624.88M	642.76M	624.09M	493.64M	506.1M	559.8M	655.3M	669.6M	681.3M	820.6M
Total Liabilities	3.85B	3.9B	4.54B	4.63B	5.03B	5.66B	7.11B	7.28B	7.04B	8.96B
Total Debt+	1.98B	1.98B	2.85B	2.91B	3.17B	3.69B	4.52B	4.52B	4.39B	5.83B
Net Debt	1.7B	1.72B	2.71B	2.87B	2.9B	2.49B	4.29B	4.36B	3.45B	5.27B
Debt / Equity	0.44x	0.43x	0.57x	0.56x	0.56x	0.61x	0.69x	0.65x	0.58x	0.72x
Debt / EBITDA	2.44x	2.09x	3.02x	2.66x	2.53x	2.85x	3.10x	2.97x	2.16x	2.94x
Net Debt / EBITDA	2.09x	1.81x	2.87x	2.63x	2.32x	1.93x	2.94x	2.86x	1.70x	2.66x
Interest Coverage	2.49x	4.97x	2.16x	5.42x	6.74x	6.59x	6.77x	5.62x	7.28x	7.14x
Total Equity+	4.45B	4.57B	4.97B	5.2B	5.62B	6.03B	6.57B	6.95B	7.51B	8.14B
Equity Growth %	0.07%	0.03%	0.09%	0.05%	0.08%	0.07%	0.09%	0.06%	0.08%	0.08%
Book Value per Share	32.97	33.67	36.84	38.85	42.15	45.23	49.20	52.04	56.15	61.18
Total Shareholders' Equity	4.45B	4.57B	4.97B	5.2B	5.62B	6.03B	6.54B	6.93B	7.48B	8.12B
Common Stock	133.17M	132.34M	132.32M	131.76M	132.37M	132.5M	132.7M	132.9M	132.1M	132.1M
Retained Earnings	1.62B	1.77B	2.18B	2.44B	2.9B	3.27B	3.75B	4.11B	4.62B	5.21B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-120.07M	-139.38M	-149.47M	-172.22M	-197.74M	-181.3M	-152.7M	-154.7M	-143.8M	-127.4M
Minority Interest	0	0	0	0	0	0	22.7M	23.6M	24.5M	23.9M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	503.38M	644.59M	644.68M	832.78M	984.12M	1.07B	1.01B	1.15B	1.54B	1.41B
Operating CF Margin %	0.15%	0.18%	0.17%	0.19%	0.2%	0.22%	0.18%	0.16%	0.2%	0.19%
Operating CF Growth %	0.93%	0.28%	0%	0.29%	0.18%	0.09%	-0.05%	0.13%	0.34%	-0.08%
Net Income	221.18M	419.49M	601.18M	515.8M	617.66M	584.48M	670.4M	576.5M	914.6M	913.1M
Depreciation & Amortization	245.17M	256.07M	275.21M	331.3M	350.84M	392.81M	418.7M	587.5M	617M	632.2M
Stock-Based Compensation	18.25M	20.67M	26.64M	25.21M	31.84M	33M	34.7M	41.1M	63.2M	53.4M
Deferred Taxes	3.07M	33.59M	-235.7M	64.64M	76.01M	62.02M	66.8M	57.7M	-43.3M	-9.4M
Other Non-Cash Items	35.67M	5.35M	115.94M	-112.15M	50.19M	30.75M	-34.8M	109.7M	18.7M	97.7M
Working Capital Changes	-23.12M	-92.79M	-169.35M	-6.97M	-147.22M	-32.7M	-143.9M	-224.3M	-33.4M	-277.4M
Change in Receivables	-42.16M	-72.76M	-81.56M	63.23M	-29.73M	13.4M	-42M	-53.3M	28.2M	63.2M
Change in Inventory	-20.93M	1.63M	-14.12M	-34.98M	-28.27M	9.8M	8.3M	-49.5M	0	-27.4M
Change in Payables	26.49M	30.35M	9.82M	40.18M	21.79M	0	-23.3M	-17.4M	-25.1M	-193M
Cash from Investing+	-309.74M	-365.08M	-1.27B	-669.89M	-415.84M	-381.51M	-1.87B	-1.05B	-163.5M	-2.81B
Capital Expenditures	-289.26M	-350.15M	-459.57M	-469.09M	-384.09M	-362.19M	-451.3M	-612.6M	-872.6M	-603.5M
CapEx % of Revenue	0.08%	0.1%	0.12%	0.11%	0.08%	0.07%	0.08%	0.08%	0.11%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	6.72M	17.61M	12.51M	9.36M	10.66M	22.93M	216.6M	38.8M	94.6M	54.8M
Cash from Financing+	-50.85M	-304.58M	503.44M	-265.13M	-338.18M	234.66M	-94.3M	-175.2M	-585.6M	1.06B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-53.21M	-106.33M	-132.34M	-148.11M	-163.97M	-180.22M	-196.4M	-212.6M	-228.4M	-244.4M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	18.31M	-36.66M	-40.61M	-28.47M	-87K	-57.39M	-300K	-33.6M	-53.3M	-66.4M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	214.12M	294.44M	185.11M	363.69M	600.03M	708.16M	560.6M	535.6M	664.2M	806.1M
FCF Margin %	0.06%	0.08%	0.05%	0.08%	0.12%	0.15%	0.1%	0.07%	0.09%	0.11%
FCF Growth %	5.03%	0.38%	-0.37%	0.96%	0.65%	0.18%	-0.21%	-0.04%	0.24%	0.21%
FCF per Share	1.58	2.17	1.37	2.72	4.50	5.31	4.20	4.01	4.97	6.06
FCF Conversion (FCF/Net Income)	2.28x	1.54x	1.07x	1.61x	1.59x	1.83x	1.51x	1.99x	1.65x	1.55x
Interest Paid	0	0	0	0	0	0	138M	164.3M	178.7M	182.9M
Taxes Paid	0	0	0	0	0	0	127.9M	143.5M	291.7M	279.8M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.13%	9.29%	12.6%	10.14%	11.41%	10.04%	10.65%	8.51%	12.91%	11.65%
Return on Invested Capital (ROIC)	6.78%	8.02%	6.86%	7.12%	7.93%	7.88%	7.83%	6.44%	9.61%	8.4%
Gross Margin	25.06%	27.53%	25.54%	25.12%	25.48%	26.39%	24.74%	21.29%	25.04%	26.96%
Net Margin	6.46%	11.68%	15.45%	11.77%	12.53%	12.03%	12.08%	7.87%	11.99%	12.29%
Debt / Equity	0.44x	0.43x	0.57x	0.56x	0.56x	0.61x	0.69x	0.65x	0.58x	0.72x
Interest Coverage	2.49x	4.97x	2.16x	5.42x	6.74x	6.59x	6.77x	5.62x	7.28x	7.14x
FCF Conversion	2.28x	1.54x	1.07x	1.61x	1.59x	1.83x	1.51x	1.99x	1.65x	1.55x
Revenue Growth	14.29%	4.98%	8.28%	12.66%	12.46%	-1.47%	14.32%	31.75%	6.38%	-4.68%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Aggregates	2.78B	2.96B	3.1B	3.51B	3.67B	3.67B	4.34B	5.27B	5.91B	5.95B
Aggregates Growth	-	6.63%	4.53%	13.49%	4.43%	0.09%	18.30%	21.35%	12.08%	0.67%
Asphalt	-	-	622.07M	733.18M	855.82M	792.61M	777.8M	990.2M	1.14B	1.25B
Asphalt Growth	-	-	-	17.86%	16.73%	-7.39%	-1.87%	27.31%	15.20%	9.20%
Concrete	299.25M	330.13M	417.75M	402M	395.63M	383.62M	766.8M	1.59B	1.25B	653.5M
Concrete Growth	-	10.32%	26.54%	-3.77%	-1.59%	-3.04%	99.89%	107.86%	-21.62%	-47.69%
Calcium	8.6M	8.86M	7.74M	8.11M	8.19M	7.72M	6.9M	7.8M	9M	-
Calcium Growth	-	3.07%	-12.64%	4.78%	1.00%	-5.75%	-10.62%	13.04%	15.38%	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Gulf Coast	-	-	-	2.03B	2.39B	2.42B	2.61B	3.7B	4.11B	3.53B
Gulf Coast Growth	-	-	-	-	17.37%	1.50%	7.84%	41.78%	10.83%	-14.03%
East	-	-	-	1.52B	1.68B	1.6B	1.67B	2.38B	2.23B	2.3B
East Growth	-	-	-	-	10.45%	-4.67%	4.08%	42.54%	-6.31%	3.02%
West	-	-	-	1.1B	1.18B	1.1B	1.1B	1.78B	1.97B	2.02B
West Growth	-	-	-	-	7.32%	-6.69%	-0.10%	61.83%	10.84%	2.46%
Non Us	-	13.24M	17.8M	-	-	-	-	-	-	-
Non Us Growth	-	-	34.46%	-	-	-	-	-	-	-
Nondomestic	11.41M	-	-	-	-	-	-	-	-	-
Nondomestic Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Vulcan Materials Company (VMC) has a price-to-earnings (P/E) ratio of 44.0x. This suggests investors expect higher future growth.

Growth & Financials

Vulcan Materials Company (VMC) reported $7.87B in revenue for fiscal year 2024. This represents a 207% increase from $2.56B in 2011.

Vulcan Materials Company (VMC) saw revenue decline by 4.7% over the past year.

Yes, Vulcan Materials Company (VMC) is profitable, generating $1.12B in net income for fiscal year 2024 (12.3% net margin).

Dividend & Returns

Yes, Vulcan Materials Company (VMC) pays a dividend with a yield of 0.61%. This makes it attractive for income-focused investors.

Vulcan Materials Company (VMC) has a return on equity (ROE) of 11.7%. This is reasonable for most industries.

Vulcan Materials Company (VMC) generated $1.05B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.