Vulcan Materials CO (VMC)
Materials · Construction Materials · US stock · S&P 500 component
$268.72
▲ +4.08 (1.54%)
Fair valueFair
$232 −13.5% to fair value
$116fair band $198–$282$348
Day's range
$263.06 – $269.14
52-week range
$237.03 – $331.09
About Vulcan Materials CO
Vulcan Materials is the largest supplier of construction aggregates in the United States, producing crushed stone, sand and gravel from quarries. It also makes asphalt mix and ready-mixed concrete in some markets. The company earns money by selling these heavy materials to contractors and public agencies for roads, buildings and infrastructure. Because materials are costly to transport, local pricing and demand for construction in each region are important.
Looking at the top line, revenue was $8.1 billion for the latest twelve months and it grew by 2.8% a year over three years. Operating margin was 20.6%, and return on invested capital is 10%. Its net debt to EBITDA ratio is 1.8 times. Shareholders receive a dividend with a yield of 0.8%. The overall X-Ray Score is 57 out of 100.
Price chart
52-wk range $237.03 – $331.09Volume 1,230,798Daily, split-adjusted
Vitals
Market cap$35.3B
52-week range$237.03 – $331.09
Volume (last day)1,230,798
P/E (TTM)32.0
EBIT / EV yield4.2%
Free-cash-flow yield3.2%
Dividend yield0.8%
Revenue (TTM)$8.1B
Net income (TTM)$1.1B
Operating margin20.6%
Return on capital10.0%
Debt incl. leases$4.6B
Cash & securities$140M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$232middle half of models $236 – $269
Fair
−13.5% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $269
Undervalued < $198Fair $198 – $282Overvalued > $282
P/E multiple
$275
P/B multiple
$261
P/S multiple
$236
EV/EBITDA multiple
$278
EV/EBIT multiple
$282
EV/revenue multiple
$241
10-year DCF, EBITDA exit
$248
5-year DCF, EBITDA exit
$269
10-year DCF, revenue exit
$244
5-year DCF, revenue exit
$262
10-year DCF, growth exit
$135
5-year DCF, growth exit
$128
Dividend discount, stable · not used
$60
Dividend discount, multi-stage · not used
$101
Earnings power value
$160
Growth the price implies
21.1%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Materials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
37/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.2%
Free-cash-flow yield3.2%
Fair value vs price0.9×
Growth
Strong
71/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)2.8%
EPS growth (3y)23.5%
Growth consistency70%
Profitability
Fair
56/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital10.0%
Operating margin20.6%
Gross profitability13.4%
Financial health
Fair
69/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score9 / 9
Net debt / EBITDA1.8×
Interest cover7.1×
Dividends
Fair
57/100
Dividend is typical for its sector.
See the numbers →
Dividend yield0.8%
Dividends vs free cash flow24%
Dividend growth6.9%
Quarterly results: last 6 quarters
+1.1%
Dec '24
+5.8%
Mar '25
+4.4%
Jun '25
+14.4%
Sep '25
+3.2%
Dec '25
+7.4%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.8B, diluted EPS $1.26.
Compare with peers
CRH Crh Public Ltd Co58 MLM Martin Marietta Materi...44Other Construction Materials companies by X-Ray Score.
SWOT analysis: Vulcan Materials CO
Strengthsinside the company
- Operating margin of 20.6% is well above the 11.3% median of sector peers, a sign of pricing power or lower costs.
- Earnings per share have compounded at 23.5% a year over three years.
- Passes 9 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Revenue growth picked up to 7.1% last year from 2.8% a year over three years.
Threatsvaluation and setting
- Trades at 31.7x earnings, 51% above the 21.0x median of sector peers, so the price already assumes better results.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare VMC with peers and sector
Medians of 22 Materials peers and of 22 Materials stocks in our universe.
Largest peers (X-Ray Score): LIN 43, NEM 81, FCX 55, SHW 54, ECL 50, APD 25.
| Metric | VMC | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 57 | 51 | 51 |
| Valuation | 37 | 46 | 46 |
| Growth | 71 | 55 | 55 |
| Profitability | 56 | 49 | 49 |
| Financial health | 69 | 48 | 48 |
| Dividends | 57 | 54 | 54 |
Sector leaders: highest X-Ray Score in Materials
VMC ranks #7 of 23 in Materials by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for VMC
Each factor is rated by where VMC stands among the 23 Materials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 9 Good · 11 Average · 2 Bad of 22
Growth: 2 · 1 · 0
Profitability: 2 · 3 · 0
Financial strength: 2 · 2 · 0
Valuation: 0 · 3 · 2
Cash flow: 2 · 2 · 0
Efficiency: 1 · 0 · 0
| Factor | VMC | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +2.8% | Good beats 67% | +0.6% | – | – |
| Revenue growth, last year | +7.1% | Average beats 59% | +5.3% | +7.1% | ≈ In line |
| EPS growth, 3 years a year | +23.5% | Good beats 91% | +0.5% | – | – |
| Profitability | |||||
| Gross margin | 27.7% | Average beats 48% | 27.9% | 25.0% | ▲ Better |
| Operating margin | 20.6% | Good beats 76% | 11.8% | 18.3% | ▲ Better |
| Net margin | 13.8% | Good beats 80% | 7.8% | 12.1% | ▲ Better |
| Return on invested capital | 10.0% | Average beats 50% | 10.0% | – | – |
| Return on equity | 13.2% | Average beats 46% | 14.8% | 11.2% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 1.8x | Average beats 63% | 2.4x | 2.4x | ▲ Better |
| Interest cover | 7.1x | Average beats 43% | 7.8x | 6.8x | ≈ In line |
| Current ratio | 2.59 | Good beats 85% | 1.61 | 2.21 | ▲ Better |
| Piotroski F-score | 9 / 9 | Good beats 96% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 31.7x | Average beats 39% | 21.6x | 37.5x | ▲ Better |
| Price / book | 4.2x | Bad beats 33% | 3.1x | 4.2x | ≈ In line |
| Price / sales | 4.4x | Bad beats 24% | 2.1x | 4.6x | ≈ In line |
| EV / EBITDA | 16.6x | Average beats 37% | 14.2x | 18.7x | ▲ Better |
| Free cash flow yield | 3.2% | Average beats 45% | 3.4% | 2.3% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 13.8% | Good beats 75% | 7.7% | 10.1% | ▲ Better |
| Cash from operations / net income | 1.62 | Average beats 61% | 1.50 | 1.65 | ≈ In line |
| Free cash flow growth, 3 years a year | +28.5% | Good beats 78% | +11.3% | – | – |
| Accruals (lower is better) | −4.1% | Average beats 48% | −4.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 8.4x | Good beats 81% | 5.3x | 8.5x | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 6 Good · ● 9 Average · ● 1 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Good
Revenue growth (3y)Good
Growth consistencyAverage
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceBad
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 58/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $5.6B | $7.3B | $7.8B | $7.4B | $7.9B |
| Operating income | $1.0B | $951M | $1.4B | $1.4B | $1.6B |
| Net income | $671M | $576M | $933M | $912M | $1.1B |
| Operating cash flow | $1.0B | $1.1B | $1.5B | $1.4B | $1.8B |
| Operating margin | 18.2% | 13.0% | 18.3% | 18.4% | 20.4% |
| Free cash flow | $561M | $536M | $664M | $806M | $1.1B |
| Diluted EPS | $5.02 | $4.31 | $6.98 | $6.85 | $8.11 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
9 bullish · 1 neutral · 6 bearish
Weekly
Neutral
5 bullish · 1 neutral · 6 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 253.8 | Bullish |
| EMA 10 | 256.9 | Bullish |
| SMA 20 | 249.4 | Bullish |
| EMA 20 | 253.3 | Bullish |
| SMA 50 | 256.6 | Bullish |
| EMA 50 | 257.5 | Bullish |
| SMA 100 | 272.4 | Bearish |
| EMA 100 | 266.1 | Bullish |
| SMA 200 | 280.5 | Bearish |
| EMA 200 | 273.4 | Bearish |
Oscillators (daily)
| RSI (14) | 68.59 | Neutral |
| MACD (12, 26) | 2.34 | Bullish |
| Momentum (12) | 7.98 | Bullish |
| Stochastic %K (14) | 98.63 | Bearish |
| Williams %R (14) | -1.37 | Bearish |
| CCI (20) | 192.9 | Bearish |
Pivot points (classic, last session)
S3 258.7 | S2 260.9 | S1 264.8 | Pivot 267.0 | R1 270.9 | R2 273.1 | R3 277.0 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.05 USD
Yield on today's price
0.76%
Frequency
Quarterly
Next ex-dividend date
9 Nov 2026
| Ex-dividend date | Amount per share |
|---|---|
| (upcoming) | 0.5200 |
| 0.5200 | |
| 0.5200 | |
| 0.5200 | |
| 0.4900 | |
| 0.4900 | |
| 0.4900 | |
| 0.4900 | |
| 0.4600 | |
| 0.4600 | |
| 0.4600 | |
| 0.4600 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold VMC
| ETF | Share of the fund |
|---|---|
| XLB Materials Select Sector SPDR | 4.72% |
| PAVE Global X U.S. Infrastructure Developme... | 2.03% |
| IFRA iShares U.S. Infrastructure | 1.34% |
| VOT Vanguard Mid-Cap Growth | 0.84% |
| JAVA JPMorgan Active Value | 0.62% |
| JEPI JPMorgan Equity Premium Income | 0.46% |
| IYJ iShares U.S. Industrials | 0.42% |
| DFLV Dimensional US Large Cap Value | 0.41% |
The eight funds with the largest weight in VMC among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
VMC stock splits
VMC has split its stock once since 1999. The latest was a 3-for-1 split on 11 Mar 1999.
Full VMC stock split history →VMC SEC filings
8-KSEC EDGAR
Director or officer change
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Director or officer change; Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.