NYSE : VMC
Vulcan Materials Company — Financial statements
Materials · Building Materials · United States
Last price 281.25 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 36.10B
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Financial statements
Vulcan Materials Company (VMC) reported revenue of 8.01B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 8.01B | 7.94B | 7.42B | 7.78B | 7.32B | 5.55B |
| Cost of Revenue | 5.81B | 5.77B | 5.42B | 5.83B | 5.76B | 4.18B |
| Gross Profit | 2.20B | 2.17B | 2.00B | 1.95B | 1.56B | 1.37B |
| Selling, General & Admin | 555.50M | 569.50M | 537.90M | 549.70M | 519.10M | 424.00M |
| Other Operating Expenses | 56.90M | 42.30M | 43.50M | 18.50M | 30.20M | 59.00M |
| Operating Expenses | 612.40M | 611.80M | 581.40M | 568.20M | 549.30M | 483.00M |
| Operating Income | 1.59B | 1.56B | 1.42B | 1.38B | 1.01B | 890.40M |
| Interest Expense | -225.50M | -239.70M | -191.20M | -196.10M | -169.20M | -149.30M |
| Interest & Investment Income | 13.40M | 13.40M | 20.90M | 16.50M | 800.00K | 1.60M |
| Other Non Operating Income (Expenses) | 4.80M | 2.20M | -15.30M | 4.20M | 9.10M | 17.10M |
| EBT Excluding Unusual Items | 1.38B | 1.34B | 1.23B | 1.20B | 849.10M | 759.80M |
| Merger & Restructuring Charges | -400.00K | -400.00K | -8.50M | |||
| Impairment of Goodwill | -86.60M | -50.90M | ||||
| Gain (Loss) on Sale of Assets | 31.20M | 51.80M | 34.60M | 68.50M | 6.90M | 118.60M |
| Asset Writedown | -28.30M | -17.00M | -4.60M | |||
| Pretax Income | 1.41B | 1.39B | 1.17B | 1.25B | 788.10M | 873.80M |
| Income Tax Expense | 304.50M | 307.50M | 251.40M | 299.40M | 193.00M | 200.10M |
| Earnings From Continuing Operations | 1.11B | 1.08B | 920.70M | 945.70M | 595.10M | 673.70M |
| Earnings From Discontinued Operations | -1.20M | -4.50M | -7.60M | -10.80M | -18.60M | -3.30M |
| Net Income to Company | 1.11B | 1.08B | 913.10M | 934.90M | 576.50M | 670.40M |
| Minority Interest in Earnings | -2.90M | -1.40M | -1.20M | -1.70M | -900.00K | 400.00K |
| Net Income | 1.10B | 1.08B | 911.90M | 933.20M | 575.60M | 670.80M |
| Net Income to Common | 1.10B | 1.08B | 911.90M | 933.20M | 575.60M | 670.80M |
| Shares Outstanding (Basic) | 130.20M | 132.00M | 132.30M | 133.00M | 133.00M | 132.80M |
| Shares Outstanding (Diluted) | 130.75M | 132.70M | 133.10M | 133.70M | 133.60M | 133.50M |
| EPS (Basic) | 8.47 | 8.16 | 6.89 | 7.02 | 4.33 | 5.05 |
| EPS (Diluted) | 8.44 | 8.12 | 6.85 | 6.98 | 4.31 | 5.03 |
| Free Cash Flow | 781.20M | 1.14B | 806.10M | 664.20M | 535.60M | 560.60M |
| Free Cash Flow Per Share | 5.97 | 8.55 | 6.06 | 4.97 | 4.01 | 4.20 |
| Dividend Per Share | 2.05 | 1.96 | 1.84 | 1.72 | 1.60 | 1.48 |
| Gross Margin | 27.48% | 27.38% | 26.96% | 25.04% | 21.29% | 24.74% |
| Operating Margin | 19.83% | 19.68% | 19.12% | 17.74% | 13.79% | 16.04% |
| Profit Margin | 13.78% | 13.56% | 12.29% | 11.99% | 7.87% | 12.08% |
| Free Cash Flow Margin | 9.75% | 14.30% | 10.87% | 8.54% | 7.32% | 10.10% |
| EBITDA | 2.30B | 2.31B | 2.05B | 2.00B | 1.60B | 1.35B |
| EBITDA Margin | 28.75% | 29.11% | 27.64% | 25.67% | 21.82% | 24.38% |
| D&A For EBITDA | 714.30M | 748.50M | 632.20M | 617.00M | 587.50M | 463.00M |
| EBIT | 1.59B | 1.56B | 1.42B | 1.38B | 1.01B | 890.40M |
| EBIT Margin | 19.83% | 19.68% | 19.12% | 17.74% | 13.79% | 16.04% |
| Effective Tax Rate | 21.57% | 22.12% | 21.45% | 24.05% | 24.49% | 22.90% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 106.60M | 183.30M | 559.70M | 931.10M | 161.40M | 235.00M |
| Cash & Short-Term Investments | 106.60M | 183.30M | 559.70M | 931.10M | 161.40M | 235.00M |
| Accounts Receivable | 1.11B | 887.70M | 892.30M | 889.70M | 1.05B | 783.20M |
| Other Receivables | 500.00K | 100.00K | 200.00K | 400.00K | 5.60M | |
| Receivables | 1.11B | 888.20M | 892.40M | 889.90M | 1.05B | 839.30M |
| Inventory | 682.50M | 680.50M | 681.80M | 615.60M | 579.30M | 521.30M |
| Restricted Cash | 65.80M | 6.10M | 41.10M | 18.10M | 100.00K | 6.50M |
| Other Current Assets | 111.10M | 809.80M | 90.70M | 70.20M | 115.50M | 94.50M |
| Total Current Assets | 2.08B | 2.57B | 2.27B | 2.52B | 1.90B | 1.70B |
| Property, Plant & Equipment | 8.99B | 8.44B | 8.75B | 6.56B | 6.46B | 6.06B |
| Long-Term Investments | 175.70M | 33.70M | 31.30M | 35.20M | 31.80M | 34.10M |
| Goodwill | 3.78B | 3.78B | 3.79B | 3.53B | 3.69B | 3.70B |
| Other Intangible Assets | 1.46B | 1.49B | 1.88B | 1.46B | 1.70B | 1.75B |
| Long-Term Deferred Charges | 137.90M | 104.80M | 98.40M | 100.20M | 95.60M | |
| Other Long-Term Assets | 214.80M | 247.30M | 279.60M | 336.70M | 350.90M | 354.90M |
| Total Assets | 16.70B | 16.70B | 17.10B | 14.55B | 14.23B | 13.68B |
| Accounts Payable | 245.30M | 438.50M | 407.00M | 390.40M | 454.50M | 365.50M |
| Accrued Expenses | 168.30M | 169.10M | 181.50M | 154.70M | 158.10M | |
| Short-Term Debt | 315.00M | 4.20M | 100.00M | |||
| Current Portion of Long-Term Debt | 400.00M | 400.00K | 400.50M | 500.00K | 500.00K | 5.20M |
| Current Portion of Leases | 55.40M | 50.30M | 60.00M | 59.80M | 70.40M | 84.60M |
| Current Unearned Revenue | 7.50M | 7.50M | ||||
| Other Current Liabilities | 432.10M | 291.10M | 202.50M | 161.20M | 176.50M | 155.90M |
| Total Current Liabilities | 1.46B | 956.10M | 1.24B | 797.60M | 956.60M | 769.30M |
| Long-Term Debt | 3.97B | 4.36B | 4.91B | 3.88B | 3.88B | 3.87B |
| Long-Term Leases | 587.00M | 527.60M | 531.10M | 524.00M | 583.20M | 703.00M |
| Long-Term Unearned Revenue | 124.90M | 130.60M | 137.80M | 145.30M | 159.80M | 167.10M |
| Pension & Post-Retirement Benefits | 64.20M | 75.20M | 83.60M | 82.20M | 106.30M | |
| Long-Term Deferred Tax Liabilities | 1.29B | 1.36B | 1.34B | 1.03B | 1.07B | 1.01B |
| Other Long-Term Liabilities | 847.30M | 753.00M | 735.70M | 581.10M | 552.60M | 488.50M |
| Total Liabilities | 8.27B | 8.15B | 8.96B | 7.04B | 7.28B | 7.11B |
| Common Stock | 128.20M | 130.60M | 132.10M | 132.10M | 132.90M | 132.70M |
| Additional Paid-In Capital | 2.91B | 2.93B | 2.90B | 2.88B | 2.84B | 2.82B |
| Retained Earnings | 5.49B | 5.59B | 5.21B | 4.62B | 4.11B | 3.75B |
| Comprehensive Income & Other | -121.30M | -125.60M | -127.40M | -143.80M | -154.70M | -152.70M |
| Total Common Equity | 8.41B | 8.53B | 8.12B | 7.48B | 6.93B | 6.54B |
| Minority Interest | 24.60M | 23.80M | 23.90M | 24.50M | 23.60M | 22.70M |
| Shareholders' Equity | 8.43B | 8.55B | 8.14B | 7.51B | 6.95B | 6.57B |
| Total Liabilities & Equity | 16.70B | 16.70B | 17.10B | 14.55B | 14.23B | 13.68B |
| Total Debt | 5.32B | 4.94B | 5.90B | 4.47B | 4.63B | 4.67B |
| Net Cash (Debt) | -5.22B | -4.76B | -5.34B | -3.53B | -4.47B | -4.43B |
| Net Cash Per Share | -39.90 | -35.85 | -40.11 | -26.44 | -33.44 | -33.20 |
| Filing Date Shares Outstanding | 128.34M | 130.58M | 132.11M | 132.23M | 132.97M | 132.79M |
| Total Common Shares Outstanding | 128.20M | 130.60M | 132.10M | 132.10M | 132.90M | 132.70M |
| Working Capital | 623.40M | 1.61B | 1.03B | 1.73B | 945.40M | 927.30M |
| Book Value Per Share | 65.57 | 65.28 | 61.46 | 56.65 | 52.13 | 49.32 |
| Tangible Book Value | 3.17B | 3.26B | 2.45B | 2.49B | 1.54B | 1.10B |
| Tangible Book Value Per Share | 24.69 | 24.92 | 18.53 | 18.86 | 11.56 | 8.28 |
| Land | 4.08B | 4.02B | 2.68B | 2.45B | 2.24B | |
| Buildings | 281.00M | 304.40M | 204.40M | 223.30M | 182.90M | |
| Machinery | 7.58B | 7.72B | 6.79B | 6.45B | 6.11B | |
| Construction In Progress | 498.30M | 400.10M | 319.40M | 378.70M | 301.80M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.10B | 1.08B | 911.90M | 933.20M | 575.60M | 670.80M |
| Depreciation & Amortization | 714.30M | 748.50M | 632.20M | 617.00M | 587.50M | 463.00M |
| Loss (Gain) From Sale of Assets | -31.80M | -52.40M | -52.30M | -76.40M | -10.70M | -120.10M |
| Asset Writedown & Restructuring Costs | 86.60M | 28.30M | 67.90M | 4.60M | ||
| Stock-Based Compensation | 46.50M | 63.10M | 53.40M | 63.20M | 41.10M | 34.70M |
| Other Operating Activities | -40.50M | 75.80M | 55.20M | 18.80M | 135.30M | 139.20M |
| Change in Accounts Receivable | 3.80M | 3.80M | 63.20M | 28.20M | -53.30M | -42.00M |
| Change in Inventory | -15.50M | -15.50M | -27.40M | -54.60M | -49.50M | 8.30M |
| Change in Accounts Payable | 75.70M | 75.70M | -193.00M | -25.10M | -17.40M | -23.30M |
| Change in Other Net Operating Assets | -341.70M | -162.70M | -120.20M | 4.20M | -128.30M | -123.30M |
| Operating Cash Flow | 1.51B | 1.81B | 1.41B | 1.54B | 1.15B | 1.01B |
| Capital Expenditures | -732.80M | -677.70M | -603.50M | -872.60M | -612.60M | -451.30M |
| Sale of Property, Plant & Equipment | 20.60M | 24.10M | 54.70M | 94.60M | 38.70M | 216.50M |
| Cash Acquisitions | -295.60M | -13.50M | -2.27B | 900.00K | -529.20M | -1.64B |
| Divestitures | 680.50M | 127.40M | 200.00K | 613.60M | 50.00M | |
| Other Investing Activities | 4.40M | 10.50M | -100.00K | 100.00K | 100.00K | |
| Investing Cash Flow | -322.90M | -529.20M | -2.81B | -163.50M | -1.05B | -1.87B |
| Short-Term Debt Issued | 8.00M | 166.10M | 1.36B | |||
| Long-Term Debt Issued | 2.00B | 550.00M | 550.00M | 1.60B | ||
| Total Debt Issued | 315.00M | 2.01B | 716.10M | 1.91B | 1.60B | |
| Short-Term Debt Repaid | -550.00M | -8.00M | -266.10M | -1.26B | ||
| Long-Term Debt Repaid | -411.40M | -563.50M | -581.30M | -591.50M | -1.47B | |
| Total Debt Repaid | -58.80M | -961.40M | -571.50M | -847.40M | -1.85B | -1.47B |
| Net Debt Issued (Repaid) | 256.20M | -961.40M | 1.44B | -131.30M | 58.50M | 134.80M |
| Repurchase of Common Stock | -1.20B | -472.40M | -101.80M | -221.90M | -18.50M | -19.10M |
| Common Dividends Paid | -266.70M | -259.80M | -244.40M | -228.40M | -212.60M | -196.40M |
| Other Financing Activities | -1.40M | -1.60M | -33.40M | -4.00M | -2.60M | -13.60M |
| Financing Cash Flow | -1.21B | -1.70B | 1.06B | -585.60M | -175.20M | -94.30M |
| Net Cash Flow | -22.80M | -411.40M | -348.40M | 787.70M | -80.00M | -956.50M |
| Free Cash Flow | 781.20M | 1.14B | 806.10M | 664.20M | 535.60M | 560.60M |
| Free Cash Flow Margin | 9.75% | 14.30% | 10.87% | 8.54% | 7.32% | 10.10% |
| Free Cash Flow Per Share | 5.97 | 8.55 | 6.06 | 4.97 | 4.01 | 4.20 |
| Levered Free Cash Flow | 710.85M | 409.04M | 782.27M | 641.92M | 367.70M | 326.29M |
| Unlevered Free Cash Flow | 851.79M | 558.85M | 901.77M | 764.49M | 473.45M | 419.60M |
| Cash Interest Paid | 221.70M | 247.10M | 182.90M | 178.70M | 164.30M | 138.00M |
| Cash Income Tax Paid | 348.30M | 290.70M | 279.80M | 291.70M | 143.50M | 127.90M |
| Change in Working Capital | -277.70M | -98.70M | -277.40M | -47.30M | -248.50M | -180.30M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 37.11B | 37.69B | 33.97B | 30.16B | 23.27B | 27.55B |
| Enterprise Value | 42.33B | 42.45B | 37.47B | 34.33B | 28.04B | 32.09B |
| Last Close Price | 281.25 | 283.59 | 253.88 | 222.46 | 170.14 | 199.85 |
| PE Ratio | 34.27 | 35.00 | 37.25 | 32.32 | 40.43 | 41.07 |
| Forward PE | 30.29 | 30.23 | 29.88 | 29.85 | 27.45 | 35.16 |
| PS Ratio | 4.63 | 4.75 | 4.58 | 3.88 | 3.18 | 4.96 |
| PB Ratio | 4.29 | 4.41 | 4.17 | 4.02 | 3.35 | 4.19 |
| P/TBV Ratio | 11.71 | 11.58 | 13.88 | 12.11 | 15.14 | 25.06 |
| P/FCF Ratio | 47.47 | 33.20 | 42.14 | 45.41 | 43.45 | 49.14 |
| P/OCF Ratio | 24.49 | 20.79 | 24.10 | 19.63 | 20.27 | 27.22 |
| PEG Ratio | 2.21 | 2.47 | 2.07 | 1.28 | 1.61 | 1.79 |
| EV/Sales Ratio | 5.28 | 5.34 | 5.05 | 4.41 | 3.83 | 5.78 |
| EV/EBITDA Ratio | 18.37 | 18.36 | 18.27 | 17.19 | 17.57 | 23.71 |
| EV/EBIT Ratio | 26.63 | 27.16 | 26.42 | 24.87 | 27.80 | 36.04 |
| EV/FCF Ratio | 54.14 | 37.39 | 46.48 | 51.68 | 52.34 | 57.25 |
| Debt / Equity Ratio | 0.63 | 0.58 | 0.72 | 0.59 | 0.67 | 0.71 |
| Debt / EBITDA Ratio | 2.18 | 2.01 | 2.69 | 2.08 | 2.66 | 3.20 |
| Debt / FCF Ratio | 6.81 | 4.35 | 7.32 | 6.72 | 8.64 | 8.33 |
| Net Debt / Equity Ratio | 0.62 | 0.56 | 0.66 | 0.47 | 0.64 | 0.68 |
| Net Debt / EBITDA Ratio | 2.27 | 2.06 | 2.60 | 1.77 | 2.80 | 3.27 |
| Net Debt / FCF Ratio | 6.68 | 4.19 | 6.62 | 5.32 | 8.34 | 7.91 |
| Asset Turnover | 0.48 | 0.47 | 0.47 | 0.54 | 0.52 | 0.44 |
| Inventory Turnover | 8.48 | 8.47 | 8.35 | 9.76 | 10.46 | 8.62 |
| Quick Ratio | 0.84 | 1.12 | 1.17 | 2.28 | 1.26 | 1.33 |
| Current Ratio | 1.43 | 2.69 | 1.83 | 3.17 | 1.99 | 2.21 |
| Return on Equity (ROE) | 12.88% | 12.97% | 11.77% | 13.08% | 8.80% | 10.70% |
| Return on Assets (ROA) | 5.89% | 5.78% | 5.60% | 6.00% | 4.52% | 4.39% |
| Return on Invested Capital (ROIC) | 9.27% | 9.09% | 9.09% | 9.34% | 6.79% | 7.02% |
| Return on Capital Employed (ROCE) | 10.40% | 9.90% | 8.90% | 10.00% | 7.60% | 6.90% |
| Earnings Yield | 2.92% | 2.86% | 2.68% | 3.09% | 2.47% | 2.44% |
| FCF Yield | 2.11% | 3.01% | 2.37% | 2.20% | 2.30% | 2.04% |
| Dividend Yield | 0.72% | 0.68% | 0.72% | 0.75% | 0.91% | 0.71% |
| Payout Ratio | 24.65% | 24.13% | 26.80% | 24.47% | 36.94% | 29.28% |
| Buyback Yield / Dilution | 1.65% | 0.30% | 0.45% | -0.07% | -0.07% | -0.22% |
| Total Shareholder Return | 2.38% | 0.98% | 1.17% | 0.68% | 0.84% | 0.49% |