VMC
Vulcan Materials Company
VMC's fundamentals are mixed: it turned 9.8% of its revenue into free cash flow, while its operating margin held steady at 20%. At 33x earnings, it's trading in line with its usual 36x. Analysts expect earnings growth, though they disagree widely on how much.
VMC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Stable |
VMC's profitability is currently healthy, and its revenue, cash flow and balance sheet are stable.
VMC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 29x | $280 | — |
| Cheap | 32x | $267 | -4.6% |
| Current | 33x | $280 | — |
| Fair | 36x | $306 | +9.2% |
| Expensive | 41x | $342 | +22% |
Historical ranges are pointers, not guarantees.
VMC's PE is in its cheap range at 33x. If earnings grow as analysts expect, today's price would be 29x next year's earnings.
VMC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
Analysts expect VMC's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
VMC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.59 | +14% |
| Q3 2026 | $8.44 | +0.2% |
| Q2 2026 | $8.46 | +18% |
| Q1 2026 | $8.40 | +19% |
| Q4 2025 | $8.11 | +18% |
| Q3 2025 | $8.42 | +33% |
| Q2 2025 | $7.16 | +4.5% |
| Q1 2025 | $7.05 | +2.9% |
| Q4 2024 | $6.85 | -1.9% |
VMC earned $8.44 per share over the past year, about the same as the year before.
VMC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | -4.7% |
| Q2 2026 | $2.2B | +2.5% |
| Q1 2026 | $1.8B | +7.4% |
| Q4 2025 | $1.9B | +3.2% |
| Q3 2025 | $2.3B | +14% |
| Q2 2025 | $2.1B | +4.4% |
| Q1 2025 | $1.6B | +5.8% |
| Q4 2024 | $1.9B | +1.1% |
VMC's revenue grew through 2023 and has held roughly level since: $2.2B last quarter, down 4.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 24% | +0.3 points |
| Q2 2026 | 21% | -1.3 points |
| Q1 2026 | 15% | +1.3 points |
| Q4 2025 | 20% | -1.8 points |
| Q3 2025 | 24% | +6.9 points |
| Q2 2025 | 22% | -0.1 points |
| Q1 2025 | 14% | +2.7 points |
| Q4 2024 | 22% | +1.4 points |
VMC's operating margin was 24% last quarter, about level with the same quarter a year ago, near the top of its range since 2019.
VMC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $208.8M | -54% |
| Q2 2026 | $149.6M | -37% |
| Q1 2026 | $64.6M | -23% |
| Q4 2025 | $358.2M | +29% |
| Q3 2025 | $454.8M | -8.7% |
| Q2 2025 | $238.8M | +2362% |
| Q1 2025 | $83.5M | +305% |
| Q4 2024 | $277.6M | +0.8% |
VMC generated $781M in free cash flow over the past year, down 26% from the year before.
VMC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -800K shares |
| 1 year | -2.6% | -3.4M shares |
| 3 years | -3.1% | -4.2M shares |
| 5 years | -3% | -4M shares |
| Available history | -2.9% | -3.9M shares |
VMC has 130M diluted shares, down 2.6% from a year ago, with $1.2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $350M |
| Q2 2026 | $250.3M |
| Q1 2026 | $149.5M |
| Q4 2025 | $400.3M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $38.1M |
| Q4 2024 | — |
VMC spent $1.2B buying back its own shares over the past year, more than ten times what it spent the year before.
VMC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Healthy |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 1.9x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 2.1x | Moderate |
| Q1 2025 | 3.0x | Elevated |
| Q4 2024 | 2.4x | Moderate |
VMC's net debt is about 2.0 years of its operating earnings (EBITDA), up from 1.8 years a year ago.
VMC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.9 | Neutral |
| Stochastic | 68.0 | Neutral |
VMC's weekly RSI is 54 (neutral) and its Stochastic is 68 (neutral).
VMC PE vs Basic Materials Sector
| Metric | VMC | Sector median | Relative |
|---|---|---|---|
| PE | 33x | 19x | 78% above |
| PE % | 23 | 40 | 17 pts below |
VMC is trading at 33x earnings, a 78% premium to the Basic Materials sector's median of 19x.
VMC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $262.0 | 6.9% above |
| 20 week MA | $270.2 | 3.7% above |
| 50 week MA | $283.1 | 1% below |
| 100 week MA | $276.6 | 1.3% above |
| 200 week MA | $252.6 | 11% above |
VMC's trend is mixed: it's above four of its five weekly moving averages, and 11% above its 200-week average.
VMC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $143.9 | $143.2 | -0.5% |
| 2021 | $143.2 | $206.4 | +44% |
| 2022 | $206.4 | $175.2 | -15% |
| 2023 | $175.2 | $227.0 | +30% |
| 2024 | $227.0 | $262.4 | +16% |
| 2025 | $262.4 | $294.2 | +12% |
| 2026 YTD | $294.2 | $280.2 | -4.8% |
VMC has finished higher in four of the last six years. It's down 4.8% so far in 2026.