Materials · Construction Materials · US stock · price as of 16 Oct 2026
Key indicators
Price
$257.63
52-week range
$237.03 – $329.20
Market cap
$33.8B
P/E (trailing)
30.6×
EV / EBITDA
16.0×
Free-cash-flow yield
3.3%
Dividend yield
0.8%
Revenue (last 12 months)
$8.1B
Revenue growth (3y a year)
2.8%
Operating margin
20.6%
Return on invested capital
10.0%
Net debt / EBITDA
1.8×
Fair value
Blended fair value$206.75 range $197 – $218
Versus priceFair−20% to fair value
Peer multiples
$200.91
Fundamentals-adjusted multiple
$235.72
10-year DCF (market-scaled)
$183.62
Earnings power value (floor, not blended)
$56.63
Model uncertainty
Medium
X-Ray Score
58/ 100 · High confidence · ahead of 74% of sector peers
Valuation40
Growth71
Profitability56
Financial health69
Dividends57
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Vulcan Materials is the largest supplier of construction aggregates in the United States, producing crushed stone, sand and gravel from quarries. It also makes asphalt mix and ready-mixed concrete in some markets. The company earns money by selling these heavy materials to contractors and public agencies for roads, buildings and infrastructure. Because materials are costly to transport, local pricing and demand for construction in each region are important.
Looking at the top line, revenue was $8.1 billion for the latest twelve months and it grew by 2.8% a year over three years. Operating margin was 20.6%, and return on invested capital is 10%. Its net debt to EBITDA ratio is 1.8 times. Shareholders receive a dividend with a yield of 0.8%.
StocksXray gives Vulcan Materials CO an X-Ray Score of 58 out of 100 (high confidence), ahead of 74% of the S&P 500 stocks in its sector. Its strongest lens is growth (71) and its weakest is valuation (40).
Our fair value blend is $206.75 (range $196.94 to $218.45). At $257.63 the stock trades 25% above that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Vulcan Materials CO (VMC)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$199.85
$170.14
$222.46
$253.88
$283.59
$257.63
Market cap
$26.7B
$22.7B
$29.7B
$33.8B
$37.6B
$33.8B
P/E
39.8×
39.5×
31.9×
37.1×
35.0×
30.6×
EV / revenue
5.5×
3.9×
4.2×
5.2×
5.3×
4.7×
EV / EBITDA
20.6×
18.3×
16.0×
19.3×
17.7×
16.0×
Price / free cash flow
47.6×
42.4×
44.8×
41.9×
33.1×
30.3×
Free-cash-flow yield
2.1%
2.4%
2.2%
2.4%
3.0%
3.3%
Price / book
4.1×
3.3×
4.0×
4.2×
4.4×
4.0×
Dividend yield
0.74%
0.94%
0.77%
0.72%
0.69%
0.80%
Fundamentals checklist ● 6 Good · ● 9 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.1%Average
Free-cash-flow yield3.3%Average
Risk models
Altman Z score3.5×Average
Piotroski F-Score9 of 9Good
Growth
EPS growth (3y)23.5%Good
Free-cash-flow growth (3y)28.5%Good
Revenue growth (3y)2.8%Good
Growth consistency70%Average
Balance sheet
Current ratio2.6×Good
Net debt / EBITDA1.8×Average
Interest cover7.1×Average
Valuation
Fair value vs price0.8×Bad
EBIT / EV yield4.3%Average
Profitability
Return on invested capital10.0%Average
Operating margin20.6%Good
Gross profitability13.4%Average
XStocksXray
Vulcan Materials CO (VMC)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
5,552
7,315
7,782
7,418
7,941
8,062
Gross profit
1,373
1,558
1,949
2,000
2,175
2,232
Operating income
1,011
951
1,427
1,365
1,620
1,659
Net income
671
576
933
912
1,077
1,113
Diluted EPS ($)
5.02
4.31
6.98
6.85
8.11
8.41
Free cash flow
561
536
664
806
1,135
1,116
Gross margin
24.7%
21.3%
25.0%
27.0%
27.4%
27.7%
Operating margin
18.2%
13.0%
18.3%
18.4%
20.4%
20.6%
Net margin
12.1%
7.9%
12.0%
12.3%
13.6%
13.8%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
13,683
14,235
14,546
17,105
16,700
16,673
Cash
235
161
931
560
183
140
Total debt
3,880
5,576
3,878
5,307
4,362
4,560
Equity
6,545
6,929
7,483
8,119
8,525
8,451
Dividend per share ($)
1.48
1.60
1.72
1.84
1.96
1.99
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.