Vulcan Materials Company (VMC)

NYSE: VMC · USD

$265

+2.76 (+1.1%)· Recorded snapshot

英文原文ZH

翻译期间显示英文原文

此报告尚未翻译。翻译队列赶上后请在几分钟内刷新。

StockMarketAgent Research · Analyzed 2026-10-04

Our latest published analysis: VMC rated Sell

Vulcan Materials Company's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$164 / share

Potential value

$201 / share

Upside to FV

-32.3%

from $265

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$31.5B
Revenue (ttm)	8.1B
Net income (ttm)	1.1B
EPS (ttm)	$8.48
Shares out	129.6M
P/E (trailing)	31.3x
P/E (forward)	22.4x
Dividend	$2.08 (0.78%)
Volume	1,028,076
Beta	1.05

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 8.1B
Net income (ttm): 1.1B
EPS (ttm): $8.48
P/E (trailing): 31.3x
P/E (forward): 22.4x
Market cap: $31.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$5.55B	$7.32B	$7.78B	$7.42B	$7.94B	+9.4%
Gross profit	$1.37B	$1.56B	$1.95B	$2.00B	$2.17B	+12.2%
Operating income	$1.01B	$951.4M	$1.43B	$1.36B	$1.62B	+12.5%
Net income	$670.8M	$575.6M	$933.2M	$911.9M	$1.08B	+12.6%
EPS (diluted)	$5.02	$4.31	$6.98	$6.85	$8.11	+12.7%
EBITDA	$1.47B	$1.53B	$2.04B	$1.98B	$2.57B	+14.9%
R&D	—	—	—	—	—	—
SG&A	$417.6M	$515.1M	$542.8M	$531.1M	$564.1M	+7.8%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	持有
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	持有
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	卖出
APD	Air Products and Chemicals, Inc.	68.3B	—	5.4x	8.9%	+5.2%	+23.1%	持有
AVY	Avery Dennison Corporation	13.7B	19.8x	1.5x	15.1%	+3.3%	+1.6%	持有
BALL	Ball Corporation	16.7B	18.0x	1.2x	8.7%	+2.3%	+28.3%	买入

Base and Bull scenarios

Base60%

Price target

$164.46

-32.3% from spot

Under the base case, Vulcan achieves a target valuation of $164.46, representing a return of -32.3% from $243.06. This outcome carries an estimated probability of 60.0%. In this scenario, public infrastructure spending provides a steady demand foundation across the East and West divisions, while compounding aggregates unit pricing offsets moderate volume headwinds in private residential construction. Operating margins remain stable, supporting consistent free cash flow conversion. This path would be disconfirmed if private construction contractions accelerate without offsetting public highway volume, which investors would observe through sequential volume declines in quarterly releases.

Compounding aggregates pricing power sustains operating margins near historical highs
Public infrastructure lettings provide steady demand that offsets private construction softness
Capital reinvestment supports steady quarry fleet renewal and modest share repurchases

Bull20%

Price target

$200.88

-17.4% from spot

Under the bull case, Vulcan achieves Potential value of $200.88 with a target of $200.88, offering a return of -17.4% against $243.06, with a probability of 20.0%. This pathway requires a sharp acceleration in federal infrastructure disbursements combined with substantial private non-residential investment across data centers and industrial facilities. High operating leverage on crushing plants and transport fleets expands operating margins beyond baseline expectations, generating substantial free cash flow that fuels aggressive share repurchases. Disconfirmation would occur if state transportation letting backlogs fail to convert into physical shipments over the coming fiscal years.

Accelerated federal infrastructure disbursements drive aggregates volume growth
Sunbelt industrial manufacturing and data center construction expand non-residential demand
Disciplined duopoly pricing enables operating margin expansion toward cyclical highs

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($164.46). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
8.7%	$174	$176	$179	$181	$185
9.2%	$167	$169	$171	$173	$176
9.7%	$161	$163	$164	$166	$169
10.2%	$156	$157	$159	$160	$162
10.7%	$151	$152	$153	$155	$156

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E22.4

P25 n/aP50 n/aP75 n/a

Trailing P/E28.7

P25 n/aP50 n/aP75 n/a

ROE13.2

P25 n/aP50 n/aP75 n/a

ROIC9.5

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All VMC indicators

Market & fundamental data

Available fields

291

Groups with data

Currency

USD

Showing 291 of 291 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001396009
Company name	Vulcan Materials Company
Country	United States
Country code	US
CUSIP number	929160109
Earnings date	2026-10-29
Earnings time	bmo
Employees	11,548
Employees change	112
Employees growth	0.98%
Enterprise value	$39.1B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1909
In index	SP500
Industry	Building Materials
Is primary listing	Yes
Is SPAC	No
ISIN number	US9291601097
Last 10-K release date	2026-02-19
Last earnings date	2026-07-29
Last refreshed	2026-10-28
Last stock split date	1999-03-11
Last stock split type	Forward
Market cap	$34.4B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$265.25
Price currency	USD
Sector	Materials
SIC code	1400
Stock price date	2026-10-28
Symbol	VMC
U.S. state	Alabama
Website	https://www.vulcanmaterials.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	31.28x
Average P/E ratio (10Y)	33.79x
Average P/E ratio (3Y)	35.28x
Average P/E ratio (5Y)	36.31x
Earnings yield	3.2%
EV/Earnings	34.82x
EV/EBIT	24.05x
EV/EBITDA	16.6x
EV/FCF	37.83x
EV/Sales	4.79x
FCF / EV yield	2.64%
FCF yield	3.01%
Forward EV/Sales	4.73x
Forward P/E	28.77x
Forward P/S	4.15x
Graham number	111.70999
Graham upside	-57.56%
Industry forward P/E	18.57x
Industry P/E	19.08x
Lynch fair value	$90.96
Lynch upside	-65.44%
P/(FCF - SBC) ratio	35.07x
P/(OCF - SBC) ratio	19.49x
P/B ratio	4.01x
P/E ratio	31.28x
P/FCF ratio	33.2x
P/OCF ratio	18.9x
P/S ratio	4.2x
PEG ratio	2.13x
Price / tangible book value	10.51x
Price/EBITDA ratio	14.57x
Sector forward P/E	15.02x
Sector P/E	22.73x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	19.91%
EBITDA margin	28.84%
Effective tax rate	21.67%
FCF margin	12.66%
Gross margin	27.51%
Operating margin	19.91%
Pretax margin	17.61%
Profit margin	13.75%
Profit per employee	$96,623
Profitable quarters	45
Profitable years	13
Revenue per employee	$702,788
ROA	6.04%
ROA (5Y)	5.26%
ROCE	10.62%
ROE	13.23%
ROE (5Y)	11.46%
ROIC	9.46%
ROIC (5Y)	8.26%
SBC / revenue	0.68%
Tax / revenue	3.82%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	18.46%
EPS growth (Q)	2.69%
EPS growth (QoQ)	96.39%
EPS growth 10Y	11.83%
EPS growth 3Y	16.02%
EPS growth 5Y	11%
EPS growth quarters	2
EPS growth years	1
FCF growth	-6.46%
FCF growth (Q)	-37.35%
FCF growth (QoQ)	131.58%
FCF growth 3Y	16.26%
FCF growth 5Y	7.62%
Gross profit growth	6.66%
Gross profit growth (Q)	0.05%
Gross profit growth 3Y	8.91%
Gross profit growth 5Y	11.23%
Net income growth	17.32%
Net income growth (Q)	0.78%
Net income growth (QoQ)	95.41%
Net income growth 3Y	15.41%
Net income growth 5Y	10.73%
Net income growth quarters	2
Net income growth years	1
OCF growth	10.82%
OCF growth (Q)	0.53%
OCF growth (QoQ)	42.47%
OCF growth 10Y	11.46%
OCF growth 3Y	10.7%
OCF growth 5Y	11.59%
Operating income growth	8.78%
Operating income growth (Q)	-0.53%
Operating income growth 3Y	10.85%
Operating income growth 5Y	11.83%
Revenue growth	6.86%
Revenue growth (Q)	2.54%
Revenue growth (QoQ)	22.77%
Revenue growth 10Y	8.45%
Revenue growth 3Y	2.29%
Revenue growth 5Y	10.55%
Revenue growth quarters	7
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-777.2M
Depreciation and amortization	$724.5M
EBIT	$1.6B
EBITDA	$2.3B
EPS	$8.48
FCF per share	$7.93
Financing cash flow	$-1.7B
Free cash flow	$1B
Free cash flow minus SBC	$972.4M
Gross profit	$2.2B
Income taxes	$309.7M
Investing cash flow	$-147.5M
Net borrowing	$-610.4M
Net cash flow	$-62.3M
Net income	$1.1B
Operating cash flow minus SBC	$1.7B
Operating income	$1.6B
Revenue	$8.1B
Stock-based compensation	$54.8M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	4.23
Book value per share	$65.41
Debt / EBITDA	1.99
Debt / equity	0.58
Debt / FCF	4.81
Goodwill	$3.8B
Interest coverage	7.04
Long-term assets	$14.3B
Long-term liabilities	$6.7B
Net cash (debt)	$-4.7B
Net cash / market cap	-13.92%
Net debt / EBITDA	2.03
Net debt / equity	0.56
Net debt / FCF	4.62
Piotroski F-Score	6
Property, plant and equipment	$8.7B
Shareholders' equity	$8.5B
Tangible book value	$3.2B
Tangible book value per share	$25.08
Total assets	$16.4B
Total cash	$194.2M
Total debt	$4.9B
Total liabilities	$8B
WACC	9.2%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.49
Current assets	$2.2B
Current liabilities	$1.2B
Current ratio	1.76
Inventory turnover	8.32
Net working capital	$1.2B
Quick ratio	1.05
Working capital	$932.7M
Working capital turnover	8.85

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	1.02%
Dividend growth	6.12%
Dividend growth (10Y)	10.03%
Dividend growth (3Y)	6.54%
Dividend growth (5Y)	7.04%
Dividend growth years	12
Dividend payment date	2026-11-24
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$2.08
Dividend yield	0.78%
Ex-dividend date	2026-11-09
FCF payout ratio	26.24%
Last dividend	$0.52
Payout ratio	24.53%
Shareholder yield	1.8%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	136.43%
10Y return CAGR	9.93%
10Y total return	157.69%
150-day SMA	$275.40
15Y price change	663.56%
15Y return CAGR	15.29%
15Y total return	745.12%
1D price change	1.05%
1M price change	7.93%
1M total return	7.93%
1W price change	0.95%
1W total return	0.95%
1Y price change	-9.45%
1Y return CAGR	-8.78%
1Y total return	-8.77%
20-day SMA	$252.99
200-day SMA	$280.44
20Y price change	228.64%
20Y return CAGR	7.38%
20Y total return	315.39%
3M price change	-7.05%
3M total return	-6.88%
3Y price change	36.52%
3Y return CAGR	11.76%
3Y total return	39.59%
50-day SMA	$255.41
50-day SMA vs 200-day SMA	50under200
52-week high	$331.09
52-week high date	2026-02-10
52-week low	$237.03
52-week low date	2026-10-01
5Y price change	42.91%
5Y return CAGR	8.26%
5Y total return	48.71%
6M price change	-9.23%
6M total return	-8.88%
All-time high	$331.09
All-time high date	2026-02-10
All-time low	$0.68
All-time low date	1970-05-28
Average true range (ATR)	$5.88
Average volume	1.2M
Beta (1Y)	0.68
Beta (2Y)	0.74
Beta (5Y)	1.05
Change from 52-week high	-19.89%
Change from 52-week low	11.9%
Change from all-time high	-20.14%
Change from all-time low	38,654.21%
Change from open	0.79%
Day's gap	0.26%
Dollar volume	$272.7M
High price	$265.51
Low price	$261.36
Monthly RSI	49.04
Open price	$263.17
Position in 52-week range	93.61%
Premarket change	-0.11%
Premarket close	$262.50
Premarket price	$262.20
Previous close	$262.50
Price vs 150-day SMA	-3.99%
Price vs 20-day SMA	4.52%
Price vs 200-day SMA	-5.71%
Price vs 50-day SMA	3.53%
Relative volume	0.89
RSI	61.19
Sharpe ratio	-0.32
Sharpe ratio (3Y)	0.35
Sharpe ratio (5Y)	0.28
Sortino ratio	-0.24
Sortino ratio (3Y)	0.72
Sortino ratio (5Y)	0.61
Volume	1M
Weekly RSI	47.68
YTD price change	-7.29%
YTD total return	-6.76%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	129.2M
Float percentage	99.67%
Shares change (QoQ)	-0.69%
Shares change (YoY)	-1.02%
Shares held by insiders	0.21%
Shares held by institutions	99.55%
Shares outstanding	129.6M
Short % of float	4.11%
Short % of shares	4.1%
Short ratio	4.3 days

Deeper analysis on VMC

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this VMC report

What is the latest published VMC stock rating?

Vulcan Materials Company is shown with Sell in the latest published report, analyzed 2026-10-04. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full VMC analysis?

The full latest published report, analyzed 2026-10-04, lives at /stocks/VMC/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for VMC?

The latest published report analyzed 2026-10-04 gives VMC a fair value of USD 164 and a potential value of USD 201. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the VMC page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-04). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellVMC · Fair value $164-32.3%

Read full analysis →

Vulcan Materials Company (VMC)

Our latest published analysis: VMC rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · VMC

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All VMC indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on VMC

Frequently asked questions

评级历史

Category	Score	Reading
Valuation	1.5
Management	8.5
Balance Sheet	7.0
Profitability	5.5
Revenue Growth	4.5
Risk Assessment	6.5
Competitive Moat	7.5
Earnings Quality	7.5
Capital Efficiency	5.5