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VMCVulcan Materials Company

Materials · Aggregates · NYSE
VMC quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 7.1%, free cash flow up to $1.1B

XBRL, from each 10-K
RevenueStatements ↓
$7.9B
from $7.4B in FY2024
FY2016FY2025
Net incomeStatements ↓
$1.1B
from $911.9M in FY2024
FY2016FY2025
Free cash flowStatements ↓
$1.1B
from $806.1M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$8.11
from $6.85 in FY2024
FY2016FY2025
Operating marginStatements ↓
20.4%
from 18.4% in FY2024
FY2016FY2025
Total debtStatements ↓
$4.4B
from $5.3B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (42, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)8.43Sales (ttm)8.0BNet income (ttm)1.1BSales growth+7.1%EPS growth+18.4%Sales Q/Q-4.7%
Free cash flow781.2MGross margin27.5%Oper. margin20.3%Net margin13.8%FCF margin9.8%ROE13.1%
ROA6.6%R&D / sales-Dividend1.96Debt/Eq0.71Curr. ratio1.43Cash106.6M
Op. cash flow (ttm)1.5BEBITDA2.4BEBITDA margin29.8%Net debt5.9BQuick ratio0.96Interest cover6.76
ROIC8.8%Payout ratio24.2%Tax rate22.1%Stock pay / sales0.8%Shares out.128.3MShares Y/Y-0.3%
Book / share65.50Cash / share0.83Sales / share62.40Asset turnover0.48Inventory turns8.47Days sales out.39
Sales 3Y CAGR+2.8%Sales 5Y CAGR+10.3%EPS 3Y CAGR+23.5%EPS 5Y CAGR+13.1%Employees11,172Sales / employee717K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Free cash flow rose 41%$806.1M → $1.1B · Cash from operations − capital expenditure · 10-K ↗
  • Revenue growth sped up to +7.1%-4.7% → +7.1% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
What management wrote about it → · Every company →

VMC against Materials peers

Ten years, side by side → · All 24 →
GrowthProfitBalanceCleanInsiders
VMCPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 24 companies, the better end on the right. Hover a dot for the company.

Sales growth
+7.1%10th of 24 · median +4.4%
Net margin
13.8%5th of 24 · median 8.4%
Return on equity
13.1%12th of 24 · median 13.1%
Free cash flow margin
9.8%9th of 24 · median 6.8%
Debt / equity (less is better)
0.7110th of 24 · median 0.76
VMC and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
VMC Vulcan Materials Company$8.0B +7.1%27.5%13.8%13.1%9.8%0.71
PKG Packaging Corporation of America$9.8B +7.2%20.5%7.4%15.1%7.0%0.83
AVY Avery Dennison$9.4B +1.1%28.8%7.6%29.7%11.1%1.51
CF CF Industries$7.9B +19.3%42.5%27.5%38.1%26.2%0.56
MLM Martin Marietta Materials$7.2B +8.6%26.7%31.9%13.0%12.1%0.73
ALB Albemarle Corporation$6.2B -4.4%25.8%11.1%6.5%23.5%0.18
Where each dollar goes

From $5.6B of sales to $670.8M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $1.4BRevenue to Cost of revenue: $4.2BGross profit to Operating profit: $1.0BGross profit to Operating expenses: $362.6MOperating profit to Net profit: $670.8MOperating profit to Tax & other: $340.0M Revenue: $5.6B Revenue$5.6B +14% Y/Y Gross profit: $1.4B · 25% margin Gross profit$1.4B25% margin +7% Y/Y Cost of revenue: $4.2B · 75% of revenue Cost of revenue$4.2B75% of revenue Operating profit: $1.0B · 18% margin Operating profit$1.0B18% margin +13% Y/Y Operating expenses: $362.6M · 7% of revenue Operating expenses$362.6M7% of revenue Net profit: $670.8M · 12% margin Net profit$670.8M12% margin +15% Y/Y Tax & other: $340.0M · 6% of revenue Tax & other$340.0M6% of revenue

Swipe sideways for the whole flow →

From $7.3B of sales to $575.6M of profit

FY2022, from the 10-K income statement and revenue by segment
Aggregates to Revenue: $4.7BAsphalt to Revenue: $990.2MConcrete to Revenue: $1.6BRevenue to Gross profit: $1.6BRevenue to Cost of revenue: $5.8BGross profit to Operating profit: $951.4MGross profit to Operating expenses: $606.3MOperating profit to Net profit: $575.6MOperating profit to Tax & other: $375.8M Aggregates: $4.7B · 65% Aggregates$4.7B65% Asphalt: $990.2M · 14% Asphalt$990.2M14% Concrete: $1.6B · 22% Concrete$1.6B22% Revenue: $7.3B Revenue$7.3B +32% Y/Y Gross profit: $1.6B · 21% margin Gross profit$1.6B21% margin +13% Y/Y Cost of revenue: $5.8B · 79% of revenue Cost of revenue$5.8B79% of revenue Operating profit: $951.4M · 13% margin Operating profit$951.4M13% margin −6% Y/Y Operating expenses: $606.3M · 8% of revenue Operating expenses$606.3M8% of revenue Net profit: $575.6M · 8% margin Net profit$575.6M8% margin −14% Y/Y Tax & other: $375.8M · 5% of revenue Tax & other$375.8M5% of revenue

Swipe sideways for the whole flow →

From $7.8B of sales to $933.2M of profit

FY2023, from the 10-K income statement and revenue by segment
Aggregates to Revenue: $5.4BAsphalt to Revenue: $1.1BConcrete to Revenue: $1.2BRevenue to Gross profit: $1.9BRevenue to Cost of revenue: $5.8BGross profit to Operating profit: $1.4BGross profit to Operating expenses: $521.1MOperating profit to Net profit: $933.2MOperating profit to Tax & other: $494.2M Aggregates: $5.4B · 69% Aggregates$5.4B69% Asphalt: $1.1B · 15% Asphalt$1.1B15% Concrete: $1.2B · 16% Concrete$1.2B16% Revenue: $7.8B Revenue$7.8B +6% Y/Y Gross profit: $1.9B · 25% margin Gross profit$1.9B25% margin +25% Y/Y Cost of revenue: $5.8B · 75% of revenue Cost of revenue$5.8B75% of revenue Operating profit: $1.4B · 18% margin Operating profit$1.4B18% margin +50% Y/Y Operating expenses: $521.1M · 7% of revenue Operating expenses$521.1M7% of revenue Net profit: $933.2M · 12% margin Net profit$933.2M12% margin +62% Y/Y Tax & other: $494.2M · 6% of revenue Tax & other$494.2M6% of revenue

Swipe sideways for the whole flow →

From $7.4B of sales to $911.9M of profit

FY2024, from the 10-K income statement and revenue by segment
Aggregates to Revenue: $5.5BAsphalt to Revenue: $1.2BConcrete to Revenue: $653.5MRevenue to Gross profit: $2.0BRevenue to Cost of revenue: $5.4BGross profit to Operating profit: $1.4BGross profit to Operating expenses: $635.1MOperating profit to Net profit: $911.9MOperating profit to Tax & other: $452.6M Aggregates: $5.5B · 74% Aggregates$5.5B74% Asphalt: $1.2B · 17% Asphalt$1.2B17% Concrete: $653.5M · 9% Concrete$653.5M9% Revenue: $7.4B Revenue$7.4B −5% Y/Y Gross profit: $2.0B · 27% margin Gross profit$2.0B27% margin +3% Y/Y Cost of revenue: $5.4B · 73% of revenue Cost of revenue$5.4B73% of revenue Operating profit: $1.4B · 18% margin Operating profit$1.4B18% margin −4% Y/Y Operating expenses: $635.1M · 9% of revenue Operating expenses$635.1M9% of revenue Net profit: $911.9M · 12% margin Net profit$911.9M12% margin −2% Y/Y Tax & other: $452.6M · 6% of revenue Tax & other$452.6M6% of revenue

Swipe sideways for the whole flow →

From $7.9B of sales to $1.1B of profit

FY2025, from the 10-K income statement and revenue by segment
Aggregates to Revenue: $5.8BAsphalt to Revenue: $1.3BConcrete to Revenue: $846.6MRevenue to Gross profit: $2.2BRevenue to Cost of revenue: $5.8BGross profit to Operating profit: $1.6BGross profit to Operating expenses: $555.0MOperating profit to Net profit: $1.1BOperating profit to Tax & other: $542.9M Aggregates: $5.8B · 73% Aggregates$5.8B73% Asphalt: $1.3B · 16% Asphalt$1.3B16% Concrete: $846.6M · 11% Concrete$846.6M11% Revenue: $7.9B Revenue$7.9B +7% Y/Y Gross profit: $2.2B · 27% margin Gross profit$2.2B27% margin +9% Y/Y Cost of revenue: $5.8B · 73% of revenue Cost of revenue$5.8B73% of revenue Operating profit: $1.6B · 20% margin Operating profit$1.6B20% margin +19% Y/Y Operating expenses: $555.0M · 7% of revenue Operating expenses$555.0M7% of revenue Net profit: $1.1B · 14% margin Net profit$1.1B14% margin +18% Y/Y Tax & other: $542.9M · 7% of revenue Tax & other$542.9M7% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

3 of 4
  • ✓
    Net margin above the peer median13.8% vs 8.4%
  • ✓
    Gross margin up over 5 years26.4% → 27.4%
  • !
    Return on equity below 15%13.1%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 11.7% → 13.6%

Balance sheet

3 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 6.8× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.71 on the latest balance sheet (peer median 0.76)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.43
  • !
    Net debt over 3 years of free cash flow$5.9B net debt, 7.5 years
Debt / equity at each year end, FY2016 to FY2025: 0.43 → 0.51
What the debt is made of ↓

Cash and shareholders

4 of 4
  • ✓
    Free cash flow positive in every one of 10 years$1.1B last year
  • ✓
    Share count down over 5 years−0.4%
  • ✓
    Dividend per share up over 5 years$1.36 → $1.96
  • ✓
    Cash from operations above net income$1.8B vs $1.1B
Free cash flow, FY2016 to FY2025: 294.4M → 1.1B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$1.7B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 7.9B Net income 1.1B
FY2016 revenue 3.6B · Revenues, 0001396009-19-000021 FY2016 net income 419.5M · NetIncomeLoss, 0001396009-19-000021 3.6B FY2016 FY2017 revenue 3.9B · Revenues, 0001396009-20-000006 FY2017 net income 601.2M · NetIncomeLoss, 0001396009-20-000006 3.9B FY2017 FY2018 revenue 4.4B · Revenues, 0001396009-21-000009 FY2018 net income 515.8M · NetIncomeLoss, 0001396009-21-000009 4.4B FY2018 FY2019 revenue 4.9B · Revenues, 0001396009-22-000010 FY2019 net income 617.7M · NetIncomeLoss, 0001396009-22-000010 4.9B FY2019 FY2020 revenue 4.9B · Revenues, 0001396009-23-000007 FY2020 net income 584.5M · NetIncomeLoss, 0001396009-23-000007 4.9B FY2020 FY2021 revenue 5.6B · Revenues, 0001396009-24-000006 FY2021 net income 670.8M · NetIncomeLoss, 0001396009-24-000006 5.6B FY2021 FY2022 revenue 7.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001396009-25-000005 FY2022 net income 575.6M · NetIncomeLoss, 0001396009-25-000005 7.3B FY2022 FY2023 revenue 7.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001628280-26-009546 FY2023 net income 933.2M · NetIncomeLoss, 0001628280-26-009546 7.8B FY2023 FY2024 revenue 7.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001628280-26-009546 FY2024 net income 911.9M · NetIncomeLoss, 0001628280-26-009546 7.4B FY2024 FY2025 revenue 7.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001628280-26-009546 FY2025 net income 1.1B · NetIncomeLoss, 0001628280-26-009546 7.9B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

VMC's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue7.9B
FY2016: 3.6BFY2017: 3.9BFY2018: 4.4BFY2019: 4.9BFY2020: 4.9BFY2021: 5.6BFY2022: 7.3BFY2023: 7.8BFY2024: 7.4BFY2025: 7.9B FY2017FY2019FY2021FY2023FY2025
Net income1.1B
FY2016: 419.5MFY2017: 601.2MFY2018: 515.8MFY2019: 617.7MFY2020: 584.5MFY2021: 670.8MFY2022: 575.6MFY2023: 933.2MFY2024: 911.9MFY2025: 1.1B FY2017FY2019FY2021FY2023FY2025
Free cash flow1.1B
FY2016: 294.4MFY2017: 185.1MFY2018: 363.7MFY2019: 600.0MFY2020: 708.2MFY2021: 560.6MFY2022: 535.6MFY2023: 664.2MFY2024: 806.1MFY2025: 1.1B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)8.11
FY2016: 3.09FY2017: 4.46FY2018: 3.85FY2019: 4.63FY2020: 4.39FY2021: 5.02FY2022: 4.31FY2023: 6.98FY2024: 6.85FY2025: 8.11 FY2017FY2019FY2021FY2023FY2025
Dividend per share1.96
FY2016: 0.80FY2017: 1.00FY2018: 1.12FY2019: 1.24FY2020: 1.36FY2021: 1.48FY2022: 1.60FY2023: 1.72FY2024: 1.84FY2025: 1.96 FY2017FY2019FY2021FY2023FY2025
Diluted shares132.7M
FY2016: 135.8MFY2017: 134.9MFY2018: 133.9MFY2019: 133.4MFY2020: 133.2MFY2021: 133.5MFY2022: 133.6MFY2023: 133.7MFY2024: 133.1MFY2025: 132.7M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Aggregates 5.8B73.0% +5.1%
Asphalt 1.3B16.3% +3.9%
Concrete 846.6M10.7% +29.5%

10-K 0001628280-26-009546, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Total Revenues Excluding Freight & Delivery 6.9B87.3% +7.8%
Service 313.7M4.0% +13.8%
Freight & Delivery Revenues -1.0B-12.7% -

10-K 0001628280-26-009546, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
United States 7.9B99.8% +7.1%
Gulf Coast 3.7B46.4% +4.5%
East 2.5B30.9% +6.8%
West 2.3B28.9% +13.6%

10-K 0001628280-26-009546, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue3.6B3.9B4.4B4.9B4.9B5.6B7.3B7.8B7.4B7.9B
Cost of revenue2.6B2.9B3.3B3.7B3.6B4.2B5.8B5.8B5.4B5.8B
Gross profit988.9M993.5M1.1B1.3B1.3B1.4B1.6B1.9B2.0B2.2B
SG&A316.8M325.0M333.4M370.5M359.8M417.6M515.1M542.8M531.1M564.1M
Operating income665.9M639.0M747.7M877.5M895.7M1.0B951.4M1.4B1.4B1.6B
Interest expense134.1M295.5M138.0M130.2M136.0M149.3M169.2M196.1M191.2M239.7M
Pretax income547.3M361.3M623.3M757.7M743.8M873.8M788.1M1.2B1.2B1.4B
Income tax124.9M-232.1M105.4M135.2M155.8M200.1M193.0M299.4M251.4M307.5M
Net income419.5M601.2M515.8M617.7M584.5M670.8M575.6M933.2M911.9M1.1B
EPS (diluted)3.094.463.854.634.395.024.316.986.858.11
Diluted shares135.8M134.9M133.9M133.4M133.2M133.5M133.6M133.7M133.1M132.7M
Depreciation & amortization284.9M306.0M346.2M374.6M396.8M463.0M587.5M617.0M632.2M748.5M
EBITDA950.8M945.0M1.1B1.3B1.3B1.5B1.5B2.0B2.0B2.4B
Gross margin27.5%25.5%25.1%25.5%26.4%24.7%21.3%25.0%27.0%27.4%
Operating margin18.5%16.4%17.1%17.8%18.4%18.2%13.0%18.3%18.4%20.4%
Net margin11.7%15.5%11.8%12.5%12.0%12.1%7.9%12.0%12.3%13.6%
Revenue growth-+8.3%+12.7%+12.5%-1.5%+14.3%+31.8%+6.4%-4.7%+7.1%
EPS growth-+44.3%-13.7%+20.3%-5.2%+14.4%-14.1%+61.9%-1.9%+18.4%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash259.0M141.6M40.0M271.6M1.2B235.0M161.4M931.1M559.7M183.3M
Receivables398.5M434.1M512.3M532.0M512.9M783.2M845.6M---
Inventory345.6M384.3M429.3M458.3M448.6M521.3M579.3M615.6M681.8M680.5M
Current assets1.1B1.2B1.1B1.4B2.3B1.7B1.9B2.5B2.3B2.6B
Property & equipment3.3B3.9B4.2B4.3B4.4B5.5B6.1B6.2B8.5B8.1B
Goodwill3.1B3.1B3.2B3.2B3.2B3.7B3.7B3.5B3.8B3.8B
Total assets8.5B9.5B9.8B10.6B11.7B13.7B14.2B14.5B17.1B16.7B
Current liabilities372.2M442.9M602.5M535.6M1.0B769.3M956.6M797.6M1.2B956.1M
Total debt2.0B2.9B2.9B2.8B3.3B3.9B5.5B3.9B5.3B4.4B
Total liabilities3.9B4.5B4.6B5.0B5.7B7.1B7.3B7.0B9.0B8.2B
Shareholders' equity4.6B5.0B5.2B5.6B6.0B6.5B6.9B7.5B8.1B8.5B
Retained earnings1.8B2.2B2.4B2.9B3.3B3.7B4.1B4.6B5.2B5.6B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow644.6M644.7M832.8M984.1M1.1B1.0B1.1B1.5B1.4B1.8B
Capital spending350.1M459.6M469.1M384.1M362.2M451.3M612.6M872.6M603.5M677.7M
Free cash flow294.4M185.1M363.7M600.0M708.2M560.6M535.6M664.2M806.1M1.1B
Stock-based pay (added back)20.7M26.6M25.2M31.8M33.0M34.7M41.1M63.2M53.4M63.1M
Dividends paid106.3M132.3M148.1M164.0M180.2M196.4M212.6M228.4M244.4M259.8M
Buybacks161.5M60.3M134.0M2.6M26.1M00200.0M68.8M438.4M
Acquisitions32.5M1.1B221.4M44.2M43.2M1.6B529.2M-900K2.3B13.5M
Debt raised02.2B850.0M0750.0M1.6B550.0M550.0M2.0B0
Debt repaid130K1.5B892.1M0250.0M1.5B557.7M550.5M550.5M400.5M
Investing cash flow-357.2M-1.3B-669.9M-415.8M-381.5M-1.9B-1.1B-163.5M-2.8B-529.2M
Financing cash flow-304.6M503.4M-265.1M-338.2M234.6M-94.3M-175.2M-585.6M1.1B-1.7B
Dividend per share0.801.001.121.241.361.481.601.721.841.96

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)20.7M26.6M25.2M31.8M33.0M34.7M41.1M63.2M53.4M63.1M
Stock-based pay / revenue0.6%0.7%0.6%0.6%0.7%0.6%0.6%0.8%0.7%0.8%
Operating lease cost---56.5M58.5M71.0M85.6M77.5M75.6M82.0M
Operating lease cash paid---52.7M54.9M64.4M78.6M73.0M73.8M81.1M
Finance lease principal paid---01.6M13.5M33.8M30.8M13.0M10.9M
Right-of-use assets--0408.2M423.1M691.4M572.6M511.7M526.4M521.5M
Operating lease liabilities---418.0M436.6M691.7M596.5M554.7M570.7M567.1M
Finance lease liabilities----6.2M95.9M57.1M29.1M20.4M10.8M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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