Financials Vulcan Materials Company

Equities

VMC

US9291601097

Construction Materials

Market Closed - Nyse Other stock markets 01:30:01 18/09/2024 am IST			5-day change	1st Jan Change
245.12 ^USD	+0.93%		+5.22%	+7.98%

22/08	Thompson Research Adjusts Price Target on Vulcan Materials to $301.50 From $289	MT
14/08	JPMorgan Adjusts Price Target on Vulcan Materials to $250 From $255	MT

Projected Income Statement: Vulcan Materials Company

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,929	4,857	5,552	7,315	7,782	7,526	8,176	8,647
Change	-	-1.47%	14.32%	31.75%	6.38%	-3.28%	8.64%	5.76%
EBITDA ¹	1,270	1,324	1,451	1,626	2,011	2,086	2,354	2,521
Change	-	4.21%	9.66%	12.01%	23.73%	3.7%	12.88%	7.09%
EBIT ¹	877.5	895.7	1,011	951.4	1,427	1,472	1,720	1,852
Change	-	2.08%	12.85%	-5.88%	50.03%	3.11%	16.87%	7.69%
Interest Paid ¹	-129	-134.4	-147.7	-168.4	-179.6	-156.4	-151.6	-121
Earnings before Tax (EBT) ¹	757.7	743.8	873.8	788.1	1,245	1,306	1,577	1,713
Change	-	-1.83%	17.48%	-9.81%	57.99%	4.91%	20.72%	8.63%
Net income ¹	617.7	584.5	670.8	575.6	933.2	1,007	1,234	1,315
Change	-	-5.37%	14.76%	-14.19%	62.13%	7.94%	22.48%	6.61%
Announcement Date	18/02/20	16/02/21	16/02/22	16/02/23	16/02/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	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
Net sales ¹	1,419	1,186	1,049	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	2,112	1,860	1,674	2,214	2,288	1,998
Change	-	-16.4%	-11.54%	26.05%	-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%	4.84%	-11.94%	-10%	32.28%	3.36%	-12.7%
EBITDA ¹	406.8	298.5	201	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	621.3	531	377.1	694	698.2	586.5
Change	-	-26.64%	-32.65%	102.87%	-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%	3.02%	-14.54%	-28.98%	84.03%	0.61%	-16%
EBIT ¹	303.4	193.6	112.3	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	470.6	370.4	216.8	542.2	549	429
Change	-	-36.19%	-41.99%	166.16%	-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%	3.75%	-21.29%	-41.47%	150.11%	1.25%	-21.86%
Charge d'intérêts ¹	-32.2	-30.84	-30.77	-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	-38.68	-38.43	-40.33	-40.33	-39.67	-39.67
Earnings before Tax (EBT) ¹	271.5	166	72.19	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	432.8	336.7	171	509	508.5	388.5
Change	-	-38.86%	-56.52%	277.2%	-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%	6.94%	-22.2%	-49.21%	197.66%	-0.1%	-23.6%
Net income ¹	215.7	141.1	60.26	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	336	260.5	132.8	394.4	393.9	301.2
Change	-	-34.59%	-57.29%	248.36%	-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%	9.09%	-22.46%	-49.01%	196.91%	-0.14%	-23.55%
Announcement Date	06/11/19	18/02/20	06/05/20	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	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Vulcan Materials Company

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	2,510	2,090	3,645	3,814	2,929	2,629	1,928	1,114
Change	-	-16.73%	74.4%	4.64%	-23.2%	-10.23%	-26.66%	-42.22%
Announcement Date	18/02/20	16/02/21	16/02/22	16/02/23	16/02/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Vulcan Materials Company

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	384.1	362.2	451.3	612.6	872.6	654.7	678.1	834
Change	-	-5.7%	24.6%	35.74%	42.44%	-24.97%	3.58%	23%
Free Cash Flow (FCF) ¹	600	708.2	560.6	535.6	664.2	901.9	1,155	995.5
Change	-	18.02%	-20.84%	-4.46%	24.01%	35.78%	28.1%	-13.83%
Announcement Date	18/02/20	16/02/21	16/02/22	16/02/23	16/02/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Vulcan Materials Company

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	25.77%	27.25%	26.14%	22.22%	25.85%	27.71%	28.8%	29.16%
EBIT Margin (%)	17.8%	18.44%	18.21%	13.01%	18.34%	19.56%	21.04%	21.42%
EBT Margin (%)	15.37%	15.31%	15.74%	10.77%	16%	17.36%	19.29%	19.81%
Net margin (%)	12.53%	12.03%	12.08%	7.87%	11.99%	13.38%	15.09%	15.21%
FCF margin (%)	12.17%	14.58%	10.1%	7.32%	8.54%	11.98%	14.13%	11.51%
FCF / Net Income (%)	97.15%	121.16%	83.57%	93.05%	71.17%	89.54%	93.65%	75.68%
Profitability
ROA	6.03%	5.23%	5.29%	4.89%	6.5%	7.07%	8.12%	8.17%
ROE	11.41%	10.04%	10.67%	10.13%	12.99%	12.96%	14.09%	13.48%
Financial Health
Leverage (Debt/EBITDA)	1.98x	1.58x	2.51x	2.35x	1.46x	1.26x	0.82x	0.44x
Debt / Free cash flow	4.18x	2.95x	6.5x	7.12x	4.41x	2.91x	1.67x	1.12x
Capital Intensity
CAPEX / Current Assets (%)	7.79%	7.46%	8.13%	8.37%	11.21%	8.7%	8.29%	9.65%
CAPEX / EBITDA (%)	30.24%	27.37%	31.1%	37.68%	43.38%	31.39%	28.8%	33.08%
CAPEX / FCF (%)	64.01%	51.15%	80.5%	114.38%	131.38%	72.59%	58.69%	83.78%
Items per share
Cash flow per share ¹	7.378	8.033	7.58	8.594	11.49	12	13.34	15.09
Change	-	8.88%	-5.64%	13.38%	33.74%	4.44%	11.13%	13.11%
Dividend per Share ¹	1.24	1.36	1.48	1.6	1.72	1.835	1.926	1.972
Change	-	9.68%	8.82%	8.11%	7.5%	6.68%	4.96%	2.38%
Book Value Per Share ¹	42.15	45.46	49.28	52.13	55.97	61.57	68.41	76.48
Change	-	7.86%	8.41%	5.78%	7.36%	9.99%	11.11%	11.81%
EPS ¹	4.63	4.39	5.02	4.31	6.98	7.612	9.245	9.934
Change	-	-5.18%	14.35%	-14.14%	61.95%	9.06%	21.45%	7.45%
Nbr of stocks (in thousands)	1,32,355	1,32,511	1,32,705	1,32,907	1,32,873	1,32,060	1,32,060	1,32,060
Announcement Date	18/02/20	16/02/21	16/02/22	16/02/23	16/02/24	-	-	-