Vulcan Materials Co

Industrials
Mining & Quarrying of Nonmetallic Minerals (No Fuels)
www.vulcanmaterials.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $37.65B
PE 45
Debt $3.39B
Cash $434.30M
EV $40.61B
FCF $803.80M

Earnings

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Sales & Net Margins

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Earnings	$845.60M
EBIT	$1.33B
ROE	11%
ROA	9%
FCF	$803.80M
Equity	$7.89B
Growth Stability	92%
PE	44.53
PEG	5.36
PB	4.77
P/FCF	46.84
P/S	5.09
Price/Cash	0.01
Debt/Equity	0.43
Debt/FCF	4.22
Net Margins	11%
Gross Margins	26%
Op. Margins	18%
Earnings CAGR	10%
Sales Growth YoY	-8%
Sales Growth QoQ	-1%
Sales CAGR	11%
FCF CAGR	16%
Equity CAGR	7%
Earnings Stability	0.68
Earnings Growth YoY	-25%
Earnings Growth QoQ	-33%
Earnings CAGR 5Y	8%

Sales CAGR 5Y	13%
FCF CAGR 5Y	-1%
Equity CAGR 5Y	8%
Earnings CAGR 3Y	10%
Sales CAGR 3Y	10%
FCF CAGR 3Y	16%
Equity CAGR 3Y	7%
Market Cap	$37.65B
Revenue	$7.40B
Dividend Yield	1%
Payout Ratio	28%
Assets	$14.35B
Total Debt	$3.39B
Cash	$434.30M
Shares Outstanding	131.25M
EV	40.61B
Earnings Score	87%
Moat Score	90%
Safety Score	88%
Final Score	88%
Working Capital	1.44B
Current Ratio	2.86
Gross Profit	$1.93B
Shares Growth 3y	0%
Equity Growth QoQ	2%
Equity Growth YoY	6%

Assets & ROA

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Stockholders Equity & ROE

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Vulcan Materials is the United States' largest producer of construction aggregates (crushed stone, sand, and gravel). Its largest markets include Texas, California, Virginia, Tennessee, Georgia, Florida, North Carolina, and Alabama. In 2021, Vulcan sold 222.9 million tons of aggregates, 11.4 million tons of asphalt mix, and 5.6 million cubic yards of ready-mix. As of Dec. 31, 2021, the company had nearly 16 billion tons of aggregates reserves.

SEC Filings

Direct access to Vulcan Materials Co (VMC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Vulcan Materials Co compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Vulcan Materials Co compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 10%

Stability 68%

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Vulcan Materials Co Discounted Cash Flow

Fully customizable DCF calculator online for Vulcan Materials Co.

Years

Calculation mode

= $24B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$804M	$930M	$1.1B	$1.2B	$1.4B	$1.7B	$1.9B	$2.2B	$2.6B	$3B	$3.4B	$34B
DCF		$845M	$888M	$934M	$982M	$1B	$1.1B	$1.1B	$1.2B	$1.3B	$1.3B	$13B
Value	$24B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	7%	6%	12%	15%	12%	13%	12%	12%	8%	12%	11%
ROA	-	7%	8%	7%	8%	8%	8%	7%	7%	10%	9%
ROE	-	5%	9%	12%	10%	11%	10%	10%	8%	12%	11%

Good Net Margins (11.11%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	9.36	6.81	15.79	8.19	4.74	5.47	7.05	7.55	5.93	4.22
Debt over Equity	0.52	0.45	0.44	0.59	0.57	0.51	0.64	0.6	0.58	0.53	0.43
Growth Stability	-	-	-	100%	100%	100%	100%	100%	92%	100%	92%

Bad Debt/FCF ratio (4.22)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.43)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (92%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	14%	5%	8%	13%	12%	-1%	14%	32%	6%	13%
Earnings YoY growth	-	8%	90%	43%	-14%	20%	-5%	15%	-14%	62%	8%
Equity YoY growth	-	7%	3%	9%	5%	8%	7%	9%	6%	8%	8%
FCF YoY growth	-	503%	38%	-37%	96%	65%	18%	-21%	-4%	24%	-1%