NYSE : VMI
Valmont Industries, Inc. — Financial statements
Industrials · Conglomerates · United States
Last price 422.1 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 8.08B
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Financial statements
Valmont Industries, Inc. (VMI) reported revenue of 4.29B 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 | 4.29B | 4.10B | 4.08B | 4.17B | 4.35B | 3.50B |
| Cost of Revenue | 2.99B | 2.86B | 2.83B | 2.94B | 3.22B | 2.60B |
| Gross Profit | 1.30B | 1.24B | 1.24B | 1.24B | 1.13B | 905.30M |
| Selling, General & Admin | 648.95M | 685.68M | 658.27M | 713.67M | 636.89M | 539.04M |
| Research & Development | 33.00M | 33.00M | 59.00M | 55.00M | 46.00M | 37.00M |
| Operating Expenses | 681.95M | 718.68M | 717.27M | 768.67M | 682.89M | 576.04M |
| Operating Income | 617.93M | 522.63M | 523.94M | 467.36M | 443.34M | 329.26M |
| Interest Expense | -38.29M | -40.54M | -58.72M | -56.81M | -47.53M | -42.61M |
| Interest & Investment Income | 5.56M | 8.19M | 7.18M | 6.23M | 2.02M | 1.19M |
| Earnings From Equity Investments | 248.00K | -90.00K | -79.00K | -1.42M | -950.00K | -944.00K |
| Currency Exchange Gain (Loss) | -8.40M | -8.40M | 177.00K | 4.78M | -40.00K | |
| Other Non Operating Income (Expenses) | 7.18M | 284.00K | -2.88M | -11.01M | -2.06M | -1.73M |
| EBT Excluding Unusual Items | 584.22M | 482.07M | 469.44M | 404.53M | 399.58M | 285.13M |
| Merger & Restructuring Charges | -7.18M | -16.07M | -35.21M | |||
| Impairment of Goodwill | -64.87M | -121.92M | ||||
| Gain (Loss) on Sale of Investments | 3.88M | 3.59M | 3.63M | 3.56M | -3.37M | 1.92M |
| Gain (Loss) on Sale of Assets | -4.47M | 2.99M | -33.27M | |||
| Asset Writedown | -26.47M | -18.93M | -27.91M | |||
| Other Unusual Items | -700.00K | -700.00K | ||||
| Pretax Income | 580.22M | 377.55M | 468.60M | 235.03M | 362.94M | 259.14M |
| Income Tax Expense | 61.29M | 23.86M | 117.98M | 90.12M | 108.69M | 61.41M |
| Earnings From Continuing Operations | 518.93M | 353.69M | 350.62M | 144.91M | 254.25M | 197.72M |
| Minority Interest in Earnings | -1.93M | -3.42M | -2.37M | 5.94M | -3.39M | -2.10M |
| Net Income | 517.00M | 350.27M | 348.26M | 150.85M | 250.86M | 195.63M |
| Preferred Dividends & Other Adjustments | -10.75M | 15.49M | 7.37M | |||
| Net Income to Common | 527.76M | 334.78M | 348.26M | 143.47M | 250.86M | 195.63M |
| Shares Outstanding (Basic) | 19.41M | 19.80M | 20.12M | 20.96M | 21.31M | 21.19M |
| Shares Outstanding (Diluted) | 19.57M | 19.94M | 20.26M | 21.16M | 21.58M | 21.49M |
| EPS (Basic) | 27.18 | 16.91 | 17.31 | 6.85 | 11.77 | 9.23 |
| EPS (Diluted) | 26.96 | 16.79 | 17.19 | 6.78 | 11.62 | 9.10 |
| Free Cash Flow | 306.43M | 311.45M | 493.23M | 210.00M | 232.98M | -41.85M |
| Free Cash Flow Per Share | 15.66 | 15.62 | 24.34 | 9.93 | 10.80 | -1.95 |
| Dividend Per Share | 2.99 | 2.72 | 2.40 | 2.40 | 2.20 | 2.00 |
| Gross Margin | 30.30% | 30.25% | 30.46% | 29.61% | 25.92% | 25.85% |
| Operating Margin | 14.40% | 12.73% | 12.86% | 11.20% | 10.20% | 9.40% |
| Profit Margin | 12.30% | 8.16% | 8.55% | 3.44% | 5.77% | 5.59% |
| Free Cash Flow Margin | 7.14% | 7.59% | 12.10% | 5.03% | 5.36% | -1.20% |
| EBITDA | 713.87M | 611.14M | 619.34M | 566.07M | 540.50M | 421.84M |
| EBITDA Margin | 16.64% | 14.89% | 15.20% | 13.56% | 12.44% | 12.05% |
| D&A For EBITDA | 95.94M | 88.51M | 95.39M | 98.71M | 97.17M | 92.58M |
| EBIT | 617.93M | 522.63M | 523.94M | 467.36M | 443.34M | 329.26M |
| EBIT Margin | 14.40% | 12.73% | 12.86% | 11.20% | 10.20% | 9.40% |
| Effective Tax Rate | 10.56% | 6.32% | 25.18% | 38.34% | 29.95% | 23.70% |
| Revenue as Reported | 4.29B | 4.10B | 4.08B | 4.17B | 4.35B | 3.50B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 122.05M | 187.14M | 164.31M | 203.04M | 185.41M | 177.23M |
| Cash & Short-Term Investments | 122.05M | 187.14M | 164.31M | 203.04M | 185.41M | 177.23M |
| Accounts Receivable | 955.73M | 857.05M | 841.62M | 833.68M | 778.72M | 714.24M |
| Other Receivables | 11.58M | 38.37M | 4.76M | 8.81M | ||
| Receivables | 967.32M | 895.41M | 846.37M | 833.68M | 778.72M | 723.05M |
| Inventory | 644.81M | 566.40M | 590.26M | 658.43M | 728.76M | 728.83M |
| Prepaid Expenses | 89.66M | 69.10M | 80.75M | 88.02M | 82.23M | 81.73M |
| Other Current Assets | 11.50M | 1.60M | 1.69M | 4.46M | 5.47M | 1.91M |
| Total Current Assets | 1.84B | 1.72B | 1.68B | 1.79B | 1.78B | 1.71B |
| Property, Plant & Equipment | 868.44M | 813.72M | 735.89M | 789.01M | 758.51M | 751.27M |
| Goodwill | 584.73M | 570.95M | 623.85M | 632.96M | 739.86M | 708.57M |
| Other Intangible Assets | 114.40M | 121.34M | 134.08M | 150.69M | 176.62M | 175.36M |
| Long-Term Deferred Tax Assets | 48.51M | 57.75M | 37.91M | 33.47M | 32.52M | 45.70M |
| Other Long-Term Assets | 89.46M | 85.92M | 114.85M | 83.69M | 68.91M | 53.59M |
| Total Assets | 3.54B | 3.37B | 3.33B | 3.48B | 3.56B | 3.45B |
| Accounts Payable | 406.48M | 359.54M | 372.20M | 358.31M | 360.31M | 347.84M |
| Accrued Expenses | 265.38M | 227.52M | 228.84M | 234.18M | 207.63M | 209.35M |
| Short-Term Debt | 1.67M | 3.21M | 5.85M | 13.44M | ||
| Current Portion of Long-Term Debt | 152.00K | 8.61M | 692.00K | 731.00K | 1.40M | 4.88M |
| Current Portion of Leases | 21.82M | 22.45M | 19.55M | 16.86M | 16.75M | |
| Current Income Taxes Payable | 9.31M | 12.60M | 22.51M | 3.66M | ||
| Current Unearned Revenue | 64.91M | 52.01M | 126.93M | 70.98M | 172.91M | 135.75M |
| Other Current Liabilities | 14.75M | 49.51M | 36.14M | 36.15M | 35.37M | 37.84M |
| Total Current Liabilities | 760.97M | 731.62M | 811.42M | 723.10M | 803.99M | 765.86M |
| Long-Term Debt | 756.14M | 795.15M | 729.94M | 1.11B | 870.93M | 947.07M |
| Long-Term Leases | 139.36M | 130.01M | 134.53M | 162.74M | 155.47M | 147.76M |
| Long-Term Unearned Revenue | 329.00K | 462.00K | 3.76M | |||
| Long-Term Deferred Tax Liabilities | 27.60M | 5.32M | 6.34M | 21.20M | 41.09M | 47.85M |
| Other Long-Term Liabilities | 87.61M | 64.49M | 50.35M | 45.44M | 43.80M | 125.12M |
| Total Liabilities | 1.77B | 1.73B | 1.74B | 2.06B | 1.92B | 2.03B |
| Common Stock | 27.90M | 27.90M | 27.90M | 27.90M | 27.90M | 27.90M |
| Additional Paid-In Capital | 2.22M | 1.48M | ||||
| Retained Earnings | 3.46B | 3.16B | 2.94B | 2.64B | 2.59B | 2.39B |
| Treasury Stock | -1.45B | -1.26B | -1.09B | -1.04B | -765.18M | -773.71M |
| Comprehensive Income & Other | -281.54M | -290.51M | -332.77M | -273.24M | -274.91M | -263.13M |
| Total Common Equity | 1.76B | 1.63B | 1.54B | 1.35B | 1.58B | 1.39B |
| Minority Interest | 9.24M | 9.50M | 51.52M | 62.79M | 60.87M | 26.75M |
| Shareholders' Equity | 1.77B | 1.64B | 1.59B | 1.42B | 1.64B | 1.41B |
| Total Liabilities & Equity | 3.54B | 3.37B | 3.33B | 3.48B | 3.56B | 3.45B |
| Total Debt | 895.65M | 955.59M | 889.28M | 1.29B | 1.05B | 1.13B |
| Net Cash (Debt) | -773.61M | -768.45M | -724.97M | -1.09B | -865.11M | -952.68M |
| Net Cash Per Share | -39.52 | -38.54 | -35.78 | -51.57 | -40.09 | -44.32 |
| Filing Date Shares Outstanding | 19.14M | 19.54M | 20.05M | 20.22M | 21.35M | 21.28M |
| Total Common Shares Outstanding | 19.14M | 19.54M | 20.03M | 20.21M | 21.35M | 21.28M |
| Working Capital | 1.07B | 988.03M | 871.97M | 1.06B | 976.59M | 946.91M |
| Book Value Per Share | 91.96 | 83.58 | 76.98 | 67.01 | 74.04 | 65.17 |
| Tangible Book Value | 1.06B | 940.49M | 784.16M | 570.63M | 664.37M | 502.92M |
| Tangible Book Value Per Share | 55.42 | 48.14 | 39.15 | 28.24 | 31.12 | 23.63 |
| Land | 136.00M | 118.20M | 118.87M | 113.19M | 112.24M | |
| Buildings | 430.56M | 405.71M | 409.09M | 390.44M | 413.88M | |
| Machinery | 969.32M | 903.50M | 922.30M | 880.75M | 817.10M | |
| Construction In Progress | 104.73M | 74.61M | 62.98M | 48.77M | 78.89M | |
| Order Backlog | 1.65B | 1.44B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 517.00M | 350.27M | 348.26M | 150.85M | 250.86M | 195.63M |
| Depreciation & Amortization | 95.94M | 88.51M | 95.39M | 98.71M | 97.17M | 92.58M |
| Loss (Gain) From Sale of Assets | -507.00K | -545.00K | 12.09M | -2.02M | 33.51M | -961.00K |
| Asset Writedown & Restructuring Costs | 9.63M | 91.34M | 140.84M | 27.91M | ||
| Loss (Gain) on Equity Investments | 90.00K | 90.00K | 79.00K | 1.42M | 950.00K | 944.00K |
| Stock-Based Compensation | 22.59M | 24.31M | 29.87M | 39.22M | 41.85M | 28.72M |
| Other Operating Activities | 9.65M | -15.06M | -41.25M | -41.68M | -25.08M | -14.32M |
| Change in Accounts Receivable | -113.14M | 2.66M | -41.32M | -47.54M | -127.17M | -90.85M |
| Change in Inventory | -48.41M | 39.44M | 45.64M | 88.43M | -3.43M | -289.94M |
| Change in Accounts Payable | 27.01M | -26.33M | 24.80M | -10.53M | 36.99M | 89.42M |
| Change in Unearned Revenue | -16.60M | -80.50M | 63.68M | -106.88M | -567.00K | 6.59M |
| Change in Income Taxes | -19.58M | -43.02M | 18.83M | 13.75M | 10.84M | 5.56M |
| Change in Other Net Operating Assets | -20.35M | 25.33M | 16.60M | -17.79M | 10.35M | 14.67M |
| Operating Cash Flow | 463.32M | 456.48M | 572.68M | 306.77M | 326.26M | 65.94M |
| Capital Expenditures | -156.88M | -145.03M | -79.45M | -96.77M | -93.29M | -107.79M |
| Sale of Property, Plant & Equipment | 2.38M | 2.18M | 643.00K | 1.71M | 1.58M | 1.75M |
| Cash Acquisitions | -11.47M | -32.68M | -39.29M | -312.50M | ||
| Divestitures | 3.83M | 6.37M | ||||
| Other Investing Activities | 5.67M | 120.00K | -3.90M | 6.09M | -1.09M | 1.24M |
| Investing Cash Flow | -160.30M | -142.74M | -78.88M | -115.28M | -132.08M | -417.31M |
| Short-Term Debt Issued | 2.84M | 15.04M | 30.79M | 9.66M | 5.82M | |
| Long-Term Debt Issued | 215.78M | 30.01M | 370.01M | 254.00M | 312.49M | |
| Total Debt Issued | 206.45M | 218.62M | 45.05M | 400.80M | 263.66M | 318.31M |
| Short-Term Debt Repaid | -4.49M | -16.53M | -34.08M | -17.24M | -26.06M | |
| Long-Term Debt Repaid | -151.56M | -408.08M | -134.75M | -336.40M | -91.31M | |
| Total Debt Repaid | -181.62M | -156.06M | -424.61M | -168.83M | -353.64M | -117.38M |
| Net Debt Issued (Repaid) | 24.83M | 62.57M | -379.56M | 231.97M | -89.98M | 200.93M |
| Issuance of Common Stock | 3.28M | 6.35M | 6.63M | 5.84M | 16.85M | 23.89M |
| Repurchase of Common Stock | -283.52M | -210.99M | -83.14M | -364.04M | -58.44M | -47.65M |
| Common Dividends Paid | -56.49M | -52.48M | -48.36M | -49.52M | -45.81M | -41.41M |
| Other Financing Activities | -96.80M | -104.32M | -18.13M | -662.00K | -4.52M | -2.27M |
| Financing Cash Flow | -408.70M | -298.86M | -522.56M | -176.41M | -181.91M | 133.50M |
| Foreign Exchange Rate Adjustments | 1.62M | 7.94M | -9.97M | 2.55M | -4.11M | -5.62M |
| Net Cash Flow | -104.06M | 22.82M | -38.73M | 17.64M | 8.17M | -223.49M |
| Free Cash Flow | 306.43M | 311.45M | 493.23M | 210.00M | 232.98M | -41.85M |
| Free Cash Flow Margin | 7.14% | 7.59% | 12.10% | 5.03% | 5.36% | -1.20% |
| Free Cash Flow Per Share | 15.66 | 15.62 | 24.34 | 9.93 | 10.80 | -1.95 |
| Levered Free Cash Flow | 131.44M | 170.23M | 489.09M | 228.07M | 282.56M | -71.70M |
| Unlevered Free Cash Flow | 155.38M | 195.56M | 525.79M | 263.58M | 312.27M | -45.07M |
| Cash Interest Paid | 39.81M | 39.00M | 57.71M | 55.54M | 46.65M | 41.16M |
| Cash Income Tax Paid | 82.13M | 84.23M | 125.55M | 103.70M | 93.11M | 60.37M |
| Change in Working Capital | -191.08M | -82.42M | 128.23M | -80.56M | -73.00M | -264.56M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.08B | 8.12B | 6.14B | 4.88B | 7.05B | 5.20B |
| Enterprise Value | 8.85B | 8.83B | 7.04B | 5.90B | 8.05B | 6.12B |
| Last Close Price | 422.10 | 410.18 | 302.67 | 228.51 | 320.71 | 235.41 |
| PE Ratio | 15.66 | 24.25 | 17.64 | 34.00 | 28.12 | 26.56 |
| Forward PE | 16.35 | 19.95 | 17.49 | 16.00 | 21.72 | 20.77 |
| PS Ratio | 1.88 | 1.98 | 1.51 | 1.17 | 1.62 | 1.48 |
| PB Ratio | 4.59 | 4.94 | 3.85 | 3.44 | 4.30 | 3.67 |
| P/TBV Ratio | 7.62 | 8.63 | 7.83 | 8.55 | 10.62 | 10.33 |
| P/FCF Ratio | 26.36 | 26.07 | 12.45 | 23.23 | 30.28 | |
| P/OCF Ratio | 17.44 | 17.79 | 10.72 | 15.90 | 21.62 | 78.79 |
| PEG Ratio | 1.19 | 2.22 | 1.71 | 1.43 | 1.95 | 1.89 |
| EV/Sales Ratio | 2.06 | 2.15 | 1.73 | 1.41 | 1.85 | 1.75 |
| EV/EBITDA Ratio | 12.40 | 14.45 | 11.37 | 10.43 | 14.89 | 14.50 |
| EV/EBIT Ratio | 14.33 | 16.90 | 13.44 | 12.63 | 18.15 | 18.58 |
| EV/FCF Ratio | 28.89 | 28.35 | 14.27 | 28.12 | 34.54 | |
| Debt / Equity Ratio | 0.51 | 0.58 | 0.56 | 0.91 | 0.64 | 0.80 |
| Debt / EBITDA Ratio | 1.20 | 1.48 | 1.37 | 2.16 | 1.84 | 2.52 |
| Debt / FCF Ratio | 2.92 | 3.07 | 1.80 | 6.16 | 4.51 | |
| Net Debt / Equity Ratio | 0.44 | 0.47 | 0.46 | 0.77 | 0.53 | 0.67 |
| Net Debt / EBITDA Ratio | 1.08 | 1.26 | 1.17 | 1.93 | 1.60 | 2.26 |
| Net Debt / FCF Ratio | 2.52 | 2.47 | 1.47 | 5.20 | 3.71 | -22.76 |
| Asset Turnover | 1.24 | 1.23 | 1.20 | 1.19 | 1.24 | 1.09 |
| Inventory Turnover | 4.84 | 4.95 | 4.54 | 4.24 | 4.42 | 4.41 |
| Quick Ratio | 1.43 | 1.48 | 1.25 | 1.43 | 1.20 | 1.18 |
| Current Ratio | 2.41 | 2.35 | 2.08 | 2.47 | 2.21 | 2.24 |
| Return on Equity (ROE) | 30.20% | 21.86% | 23.29% | 9.47% | 16.64% | 15.09% |
| Return on Assets (ROA) | 11.18% | 9.75% | 9.62% | 8.30% | 7.91% | 6.43% |
| Return on Invested Capital (ROIC) | 22.02% | 20.71% | 16.24% | 11.49% | 12.75% | 12.43% |
| Return on Capital Employed (ROCE) | 22.20% | 19.80% | 20.80% | 17.00% | 16.10% | 12.30% |
| Earnings Yield | 6.39% | 4.31% | 5.67% | 3.09% | 3.56% | 3.77% |
| FCF Yield | 3.79% | 3.84% | 8.03% | 4.30% | 3.30% | -0.81% |
| Dividend Yield | 0.73% | 0.65% | 0.78% | 0.99% | 0.67% | 0.82% |
| Payout Ratio | 11.42% | 14.98% | 13.89% | 32.82% | 18.26% | 21.17% |
| Buyback Yield / Dilution | 2.38% | 1.60% | 4.24% | 1.95% | -0.40% | -0.32% |
| Total Shareholder Return | 3.10% | 2.25% | 5.03% | 2.94% | 0.26% | 0.50% |