Vulcan Materials CompanyVMC
NYSE•Basic Materials•Building Materials
Vulcan Materials Company produces and supplies construction aggregates in the United States. It operates through three segments: Aggregates, Asphalt, and Concrete. The company provides crushed stone, sand and gravel, sand, and other aggregates for use in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities; aggregates that are used as ballast for construction and maintenance of railroad tracks; riprap and jetty stones for use in erosion control along roads and waterways; asphalt mix; asphalt construction paving services; and ready-mixed concrete products. The company was formerly known as Virginia Holdco, Inc. and changed its name to Vulcan Materials Company. Vulcan Materials Company was founded in 1909 and is headquartered in Birmingham, Alabama.
Vulcan Materials Company (Holdi (VMC) reported trailing twelve months revenue of $8.06B as of March 2026, a 7.4% increase year-over-year. Quarterly revenue reached $1.76B, reflecting continued top-line momentum.
Vulcan Materials Company (Holdi generated $1.11B in TTM net income, with quarterly EBITDA of $435.70M. The operating margin expanded from 13.9% to 15.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (15.1%) and net margin (9.4%) indicates moderate non-operating costs. Net margin has improved from 7.9% a year ago, signaling stronger bottom-line efficiency.
VMC trades at a P/E of 31.3x (a premium multiple) and a P/S of 4.3x. The price-to-book ratio of 4.1x reflects a moderate premium to book value.
The company generated $64.60M in free cash flow over the trailing twelve months, a 22.6% decrease year-over-year, indicating cash generation ability. The balance sheet shows $16.67B in total assets with $4.36B in long-term debt against $8.45B in stockholders equity for a debt-to-equity ratio of 0.5. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~19.5%, suggesting durable pricing power and cost discipline.
ROE is positive at ~11.9% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~6.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~20.3% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation