Financials Vulcan Materials Company

Equities

VMC

US9291601097

Construction Materials

Market Closed - Nyse Other stock markets 01:30:02 16/07/2025 am IST			5-day change	1st Jan Change
261.56 ^USD	-3.10%		-1.84%	+1.68%

02/07	Thompson Research Adjusts Vulcan Materials Price Target to $303 From $307.03	MT
02/07	Loop Capital Adjusts Price Target on Vulcan Materials to $316 From $320, Maintains Buy Rating	MT

Projected Income Statement: Vulcan Materials Company

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	4,857	5,552	7,315	7,782	7,418	8,216	8,843	9,401
Change	-	14.32%	31.75%	6.38%	-4.68%	10.76%	7.64%	6.31%
EBITDA ¹	1,324	1,451	1,626	2,011	2,057	2,476	2,725	2,993
Change	-	9.66%	12.01%	23.73%	2.28%	20.36%	10.06%	9.84%
EBIT ¹	895.7	1,011	951.4	1,427	1,364	1,700	1,923	2,159
Change	-	12.85%	-5.88%	50.03%	-4.41%	24.58%	13.11%	12.26%
Interest Paid ¹	-134.4	-147.7	-168.4	-179.6	-170.3	-240.8	-230.5	-234.3
Earnings before Tax (EBT) ¹	743.8	873.8	788.1	1,245	1,172	1,452	1,677	1,909
Change	-	17.48%	-9.81%	57.99%	-5.86%	23.91%	15.44%	13.84%
Net income ¹	584.5	670.8	575.6	933.2	911.9	1,127	1,298	1,486
Change	-	14.76%	-14.19%	62.13%	-2.28%	23.57%	15.19%	14.5%
Announcement Date	16/02/21	16/02/22	16/02/23	16/02/24	18/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	1,323	1,310	1,175	1,068	1,361	1,517	1,606	1,541	1,954	2,088	1,732	1,649	2,113	2,186	1,834	1,546	2,014	2,004	1,854	1,635	2,214	2,284	2,072	1,742	2,337	2,444	2,189	1,851
Change	-	-0.96%	-10.29%	-9.09%	27.4%	11.42%	5.92%	-4.08%	26.84%	6.86%	-17.07%	-4.79%	28.14%	3.45%	-16.08%	-15.72%	30.3%	-0.52%	-7.5%	-11.79%	35.44%	3.13%	-9.27%	-15.92%	34.16%	4.57%	-10.43%	-15.44%
EBITDA ¹	407.8	403.5	311.2	244.3	406	417.7	383.4	293.9	450.2	507	374.7	337.6	595.3	602.2	476.1	323.5	603.1	580.6	550.1	410.9	701.4	712.8	638.5	451.7	757.9	796	696.4	492.1
Change	-	-1.06%	-22.87%	-21.5%	66.21%	2.87%	-8.21%	-23.34%	53.18%	12.62%	-26.09%	-9.9%	76.33%	1.16%	-20.94%	-32.05%	86.43%	-3.73%	-5.25%	-25.3%	70.7%	1.62%	-10.42%	-29.25%	67.78%	5.03%	-12.51%	-29.34%
EBIT ¹	298.9	288.1	196.4	249.5	287.5	262.4	211.3	147	307.6	305.4	191.5	187.2	451.1	418.9	370.1	172.9	453.6	337.1	401	226.4	507	519.8	441.4	249.6	558.5	595.6	488.3	288.1
Change	-	-3.61%	-31.82%	27.02%	15.24%	-8.75%	-19.46%	-30.43%	109.25%	-0.72%	-37.3%	-2.25%	140.97%	-7.14%	-11.65%	-53.28%	162.35%	-25.68%	18.96%	-43.54%	123.92%	2.53%	-15.08%	-43.45%	123.79%	6.63%	-18.02%	-41%
Charge d'intérêts ¹	-33.95	-35.78	-33.88	-33.12	-41.7	-36.78	-36.1	-35.9	-38.7	-46.1	-47.6	-49	-46.7	-46.6	-37.4	-39.1	-40.2	-38.4	-52.6	-59.7	-60.4	-60.24	-59.7	-57.14	-56.64	-56.34	-56.04	-
Earnings before Tax (EBT) ¹	272.3	258.1	141.2	222.3	254.1	228.7	168.7	112.6	264.2	260.6	150.8	139.6	404.3	365.9	335.3	133.5	404.7	294.9	339	164.1	444.8	462.2	372.9	184.2	502.8	540	433.2	233.9
Change	-	-5.21%	-45.29%	57.44%	14.28%	-9.97%	-26.25%	-33.25%	134.64%	-1.36%	-42.13%	-7.43%	189.61%	-9.5%	-8.36%	-60.18%	203.15%	-27.13%	14.95%	-51.59%	171.06%	3.91%	-19.31%	-50.6%	172.94%	7.38%	-19.78%	-46.01%
Net income ¹	209.9	199.8	114.5	160.6	195.3	176.9	138	91.8	187.3	177.1	119.4	120.7	308.6	276.5	227.5	102.7	308	207.6	293.8	128.9	344	356.4	290.9	143	388.3	418.7	336.1	181
Change	-	-4.82%	-42.69%	40.27%	21.62%	-9.44%	-21.99%	-33.48%	104.03%	-5.45%	-32.58%	1.09%	155.68%	-10.4%	-17.72%	-54.86%	199.9%	-32.6%	41.52%	-56.13%	166.89%	3.6%	-18.38%	-50.86%	171.64%	7.81%	-19.71%	-46.15%
Announcement Date	04/08/20	05/11/20	16/02/21	04/05/21	04/08/21	04/11/21	16/02/22	04/05/22	04/08/22	02/11/22	16/02/23	04/05/23	03/08/23	26/10/23	16/02/24	02/05/24	06/08/24	30/10/24	18/02/25	30/04/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Vulcan Materials Company

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	2,090	3,645	3,814	2,929	4,707	4,201	3,379	1,983
Change	-	74.4%	4.64%	-23.2%	60.7%	-10.74%	-19.57%	-41.31%
Announcement Date	16/02/21	16/02/22	16/02/23	16/02/24	18/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Vulcan Materials Company

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	362.2	451.3	612.6	872.6	806.1	782.4	775.2	798.8
Change	-	24.6%	35.74%	42.44%	-7.62%	-2.94%	-0.91%	3.04%
Free Cash Flow (FCF) ¹	708.2	560.6	535.6	664.2	933.3	1,148	1,269	1,420
Change	-	-20.84%	-4.46%	24.01%	40.51%	23.06%	10.52%	11.87%
Announcement Date	16/02/21	16/02/22	16/02/23	16/02/24	18/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Vulcan Materials Company

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	27.25%	26.14%	22.22%	25.85%	27.73%	30.14%	30.82%	31.84%
EBIT Margin (%)	18.44%	18.21%	13.01%	18.34%	18.4%	20.69%	21.74%	22.96%
EBT Margin (%)	15.31%	15.74%	10.77%	16%	15.8%	17.68%	18.96%	20.3%
Net margin (%)	12.03%	12.08%	7.87%	11.99%	12.29%	13.72%	14.68%	15.81%
FCF margin (%)	14.58%	10.1%	7.32%	8.54%	12.58%	13.98%	14.35%	15.1%
FCF / Net Income (%)	121.16%	83.57%	93.05%	71.17%	102.35%	101.92%	97.79%	95.54%
Profitability
ROA	5.23%	5.29%	4.89%	6.5%	6.33%	6.98%	7.63%	7.7%
ROE	10.04%	10.67%	10.13%	12.99%	12.85%	13.32%	14%	14.27%
Financial Health
Leverage (Debt/EBITDA)	1.58x	2.51x	2.35x	1.46x	2.29x	1.7x	1.24x	0.66x
Debt / Free cash flow	2.95x	6.5x	7.12x	4.41x	5.04x	3.66x	2.66x	1.4x
Capital Intensity
CAPEX / Current Assets (%)	7.46%	8.13%	8.37%	11.21%	10.87%	9.52%	8.77%	8.5%
CAPEX / EBITDA (%)	27.37%	31.1%	37.68%	43.38%	39.18%	31.6%	28.45%	26.68%
CAPEX / FCF (%)	51.15%	80.5%	114.38%	131.38%	86.37%	68.12%	61.08%	56.25%
Items per share
Cash flow per share ¹	8.033	7.58	8.594	11.49	10.59	13.96	15.13	17.58
Change	-	-5.64%	13.38%	33.74%	-7.86%	31.83%	8.4%	16.16%
Dividend per Share ¹	1.36	1.48	1.6	1.72	1.84	1.995	2.087	2.158
Change	-	8.82%	8.11%	7.5%	6.98%	8.4%	4.63%	3.42%
Book Value Per Share ¹	45.46	49.28	52.13	55.97	61	67.63	75.23	85.26
Change	-	8.41%	5.78%	7.36%	8.98%	10.88%	11.23%	13.34%
EPS ¹	4.39	5.02	4.31	6.98	6.85	8.465	9.78	11.19
Change	-	14.35%	-14.14%	61.95%	-1.86%	23.58%	15.53%	14.41%
Nbr of stocks (in thousands)	1,32,511	1,32,705	1,32,907	1,32,873	1,32,061	1,32,104	1,32,104	1,32,104
Announcement Date	16/02/21	16/02/22	16/02/23	16/02/24	18/02/25	-	-	-