Vulcan Materials Co
VMC—
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Vulcan Materials Co AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 3.8B is 44% of equity and 124% of tangible book - acquisition-heavy model creates impairment risk if aggregate pricing weakens.[Goodwill]
- Operating margin TTM 20.1% vs industry median 0% - pricing power from irreplaceable quarry locations drives 100x+ margin advantage.[Operating Margin TTM]
- FCF TTM 1.1B on 655M capex (8.3% of revenue) - capital-intensive but generating 13.4% FCF margin despite heavy reinvestment.[Free Cash Flow TTM]
Watch Triggers
- Operating Margin TTM: Falls below 18% — Would signal pricing power erosion or cost inflation outpacing price increases
- Goodwill: Impairment charge announced — 3.8B goodwill writedown would materially impact equity and signal overpayment for acquisitions
- Capital Expenditure TTM: Exceeds 900M (11%+ of revenue) — Rising capex intensity would compress FCF and suggest reserve depletion requiring replacement
Bull Case
Local monopoly economics: quarries have 30-50 mile economic radius, creating natural barriers. 20% operating margin vs 0% industry median reflects pricing power.
Operating Margin TTMPPE
EPS growth 39% 1Y and 13.5% 5Y CAGR with stable margins suggests operational leverage kicking in as volumes recover post-pandemic.
EPS Growth 1YEPS Growth 5Y
Bear Case
P/E 36.4x vs industry median 27.7x and P/B 12.7x prices in infrastructure boom - any volume disappointment compresses multiple.
PE RatioPB Ratio
Net debt 4.2B at 0.56 D/E with 248M interest expense (22% of operating income) limits M&A flexibility if rates stay elevated.
Net DebtInterest Expense TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
Infrastructure spending tailwinds should sustain mid-single-digit volume growth through 2027
1-3ymed
- IIJA federal infrastructure funding entering peak deployment years
- Reshoring manufacturing driving non-residential construction demand
- Aggregate reserves are depleting assets with multi-decade replacement cycles
Revenue TTM 7.9B with 39% EPS growth 1YOperating margin 20.1% shows pricing disciplinePPE 8.9B reflects irreplaceable asset base
Valuation Context
Caveats
Public Strategies Rankings
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VMC Fundamentals
Mining, Quarrying, and Oil and Gas Extraction → Mining (except Oil and Gas)
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$38.65B | — | ||
$43.35B | — | ||
36 | — | ||
$7.94B | +7.1% | — | |
$8.11 | +10.3% | — | |
19.7% | +0.9% | — | |
13.6% | +1.3% | — | |
$1.14B | +40.8% | — | |
12.9% | +1.2% | — | |
Beta 5Y (Monthly) | unknown | — |
VMC Dividend History
106 dividends
2026
$0.520003/09/26$0.5200
2025
$1.960011/10/25$0.4900
08/14/25$0.4900
05/23/25$0.4900
03/10/25$0.4900
2024
$1.840011/04/24$0.4600
08/15/24$0.4600
05/23/24$0.4600
03/01/24$0.4600
2023
$1.720011/10/23$0.4300
08/16/23$0.4300
05/25/23$0.4300
03/03/23$0.4300
2022
$1.600011/14/22$0.4000
08/16/22$0.4000
05/26/22$0.4000
02/28/22$0.4000
2021
$3.480011/16/21$2.0000
11/15/21$0.3700
08/17/21$0.3700
05/27/21$0.3700
02/26/21$0.3700
2020
$1.360011/16/20$0.3400
08/18/20$0.3400
05/21/20$0.3400
02/25/20$0.3400
2019
$1.240011/18/19$0.3100
08/20/19$0.3100
05/23/19$0.3100
02/21/19$0.3100
2018
$1.120011/20/18$0.2800
08/21/18$0.2800
05/23/18$0.2800
02/22/18$0.2800
2017
$1.000011/21/17$0.2500
08/21/17$0.2500
05/22/17$0.2500
02/22/17$0.2500
2016
$0.800011/21/16$0.2000
08/22/16$0.2000
05/24/16$0.2000
02/22/16$0.2000
2015
$0.400011/20/15$0.1000
08/21/15$0.1000
05/21/15$0.1000
02/25/15$0.1000
2014
$0.220011/24/14$0.0600
08/25/14$0.0600
05/22/14$0.0500
02/20/14$0.0500
2013
$0.040011/21/13$0.0100
08/26/13$0.0100
05/23/13$0.0100
02/21/13$0.0100
2012
$0.040011/21/12$0.0100
08/23/12$0.0100
06/07/12$0.0100
02/23/12$0.0100
2011
$0.760011/21/11$0.0100
08/24/11$0.2500
05/25/11$0.2500
02/23/11$0.2500
2010
$1.000011/02/10$0.2500
08/24/10$0.2500
05/26/10$0.2500
02/24/10$0.2500
2009
$1.480011/23/09$0.2500
08/24/09$0.2500
05/21/09$0.4900
02/25/09$0.4900
2008
$1.960011/24/08$0.4900
08/25/08$0.4900
05/22/08$0.4900
02/21/08$0.4900
2007
$1.840011/21/07$0.4600
08/22/07$0.4600
05/23/07$0.4600
02/21/07$0.4600
2006
$1.480011/22/06$0.3700
08/23/06$0.3700
05/24/06$0.3700
02/22/06$0.3700
2005
$1.160011/21/05$0.2900
08/23/05$0.2900
05/25/05$0.2900
02/23/05$0.2900
2004
$1.040011/22/04$0.2600
08/24/04$0.2600
05/26/04$0.2600
02/25/04$0.2600
2003
$0.980011/24/03$0.2450
08/25/03$0.2450
05/21/03$0.2450
02/26/03$0.2450
2002
$0.940011/22/02$0.2350
08/23/02$0.2350
05/22/02$0.2350
02/20/02$0.2350
2001
$0.900011/21/01$0.2250
08/22/01$0.2250
05/23/01$0.2250
02/21/01$0.2250
2000
$0.840011/20/00$0.2100
08/21/00$0.2100
05/24/00$0.2100
02/23/00$0.2100
VMC Stock Splits
No stock splits
VMC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/19/26 | 12/31/25 | Unknown | |
10/30/25 | 09/30/25 | 10-Q | |
07/31/25 | 06/30/25 | 10-Q | |
04/30/25 | 03/31/25 | 10-Q | |
02/20/25 | 12/31/24 | 10-K | |
10/30/24 | 09/30/24 | 10-Q | |
08/07/24 | 06/30/24 | 10-Q | |
05/02/24 | 03/31/24 | 10-Q | |
02/22/24 | 12/31/23 | 10-K | |
10/27/23 | 09/30/23 | 10-Q | |
08/04/23 | 06/30/23 | 10-Q | |
05/05/23 | 03/31/23 | 10-Q | |
02/24/23 | 12/31/22 | 10-K | |
11/03/22 | 09/30/22 | 10-Q | |
08/05/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
02/25/22 | 12/31/21 | 10-K | |
11/05/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/05/21 | 03/31/21 | 10-Q | |
02/25/21 | 12/31/20 | 10-K | |
11/06/20 | 09/30/20 | 10-Q | |
08/05/20 | 06/30/20 | 10-Q | |
05/06/20 | 03/31/20 | 10-Q | |
02/26/20 | 12/31/19 | 10-K | |
11/07/19 | 09/30/19 | 10-Q | |
07/29/19 | 06/30/19 | 10-Q | |
05/03/19 | 03/31/19 | 10-Q | |
02/26/19 | 12/31/18 | 10-K | |
10/31/18 | 09/30/18 | 10-Q | |
08/01/18 | 06/30/18 | 10-Q | |
05/04/18 | 03/31/18 | 10-Q | |
02/27/18 | 12/31/17 | 10-K | |
11/03/17 | 09/30/17 | 10-Q | |
08/04/17 | 06/30/17 | 10-Q | |
05/10/17 | 03/31/17 | 10-Q | |
02/24/17 | 12/31/16 | 10-K | |
11/02/16 | 09/30/16 | 10-Q | |
08/03/16 | 06/30/16 | 10-Q | |
05/04/16 | 03/31/16 | 10-Q | |
02/25/16 | 12/31/15 | 10-K | |
11/04/15 | 09/30/15 | 10-Q | |
08/05/15 | 06/30/15 | 10-Q | |
05/06/15 | 03/31/15 | 10-Q | |
02/27/15 | 12/31/14 | 10-K | |
11/05/14 | 09/30/14 | 10-Q | |
08/06/14 | 06/30/14 | 10-Q | |
05/12/14 | 03/31/14 | 10-Q | |
02/26/14 | 12/31/13 | 10-K | |
11/05/13 | 09/30/13 | 10-Q | |
08/06/13 | 06/30/13 | 10-Q | |
05/07/13 | 03/31/13 | 10-Q | |
02/28/13 | 12/31/12 | 10-K | |
11/08/12 | 09/30/12 | 10-Q | |
08/08/12 | 06/30/12 | 10-Q | |
05/02/12 | 03/31/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/04/11 | 09/30/11 | 10-Q | |
08/04/11 | 06/30/11 | 10-Q | |
05/06/11 | 03/31/11 | 10-Q | |
02/28/11 | 12/31/10 | 10-K | |
11/03/10 | 09/30/10 | 10-Q | |
08/04/10 | 06/30/10 | 10-Q | |
05/04/10 | 03/31/10 | 10-Q | |
02/26/10 | 12/31/09 | 10-K | |
11/06/09 | 09/30/09 | 10-Q | |
08/05/09 | 06/30/09 | 10-Q | |
05/05/09 | 03/31/09 | 10-Q | |
03/02/09 | 12/31/08 | 4 | |
11/06/08 | 09/30/08 | 10-Q | |
08/06/08 | 06/30/08 | 10-Q | |
05/07/08 | 03/30/08 | Unknown | -- |
02/29/08 | 12/31/07 | 10-K | |
09/30/07 | 09/30/07 | Unknown | -- |
06/30/07 | 06/30/07 | Unknown | -- |
03/31/07 | 03/30/07 | Unknown | -- |
12/31/06 | 12/31/06 | Unknown | -- |
09/30/06 | 09/30/06 | Unknown | -- |
06/30/06 | 06/30/06 | Unknown | -- |
03/31/06 | 03/30/06 | Unknown | -- |
12/31/05 | 12/31/05 | Unknown | -- |
09/30/05 | 09/30/05 | Unknown | -- |
06/30/05 | 06/30/05 | Unknown | -- |
03/31/05 | 03/30/05 | Unknown | -- |
12/31/04 | 12/31/04 | Unknown | -- |
09/30/04 | 09/30/04 | Unknown | -- |
06/30/04 | 06/30/04 | Unknown | -- |
03/31/04 | 03/30/04 | Unknown | -- |
12/31/03 | 12/31/03 | Unknown | -- |
09/30/03 | 09/30/03 | Unknown | -- |
06/30/03 | 06/30/03 | Unknown | -- |
03/31/03 | 03/30/03 | Unknown | -- |
12/31/02 | 12/31/02 | Unknown | -- |
09/30/02 | 09/30/02 | Unknown | -- |
06/30/02 | 06/30/02 | Unknown | -- |
03/31/02 | 03/30/02 | Unknown | -- |
12/31/01 | 12/31/01 | Unknown | -- |
09/30/01 | 09/30/01 | Unknown | -- |
06/30/01 | 06/30/01 | Unknown | -- |
03/31/01 | 03/30/01 | Unknown | -- |
12/31/00 | 12/31/00 | Unknown | -- |
09/30/00 | 09/30/00 | Unknown | -- |
06/30/00 | 06/30/00 | Unknown | -- |
03/31/00 | 03/30/00 | Unknown | -- |