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Eagle Materials

EXP NYSE Construction Materials Financials FY2017–FY2026

Eagle Materials' revenue rose 2.1% to $2.3 billion in fiscal 2026. Its net margin was 18.4%, down from 20.5% a year earlier. Free cash flow was $197 million, down 44.1%. It paid out $414 million in dividends and buybacks, 210% of free cash flow. The diluted share count fell 4.3%.

Last close · Oct 23, 2026

$174.71

2.3%
Value it Compare
Revenue Total sales reported in the income statement.
$2.3B
2.1% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$424M
8.5%
Free cash flow Cash from operations minus capital spending.
$197M
44.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
16.3%
3.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$5.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
13.8x
On $12.69 EPS (TTM)

What Eagle Materials does

No business description yet.

Legal name
EAGLE MATERIALS INC
Fiscal year ends
March 31, 2026
Latest annual report
—
Accession · CIK
0001193125-26-230979
0000918646

Revenue and margins

Eagle Materials had $2.3B of revenue in fiscal 2026, up 2.1% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 13.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $197M in fiscal 2026, 8.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Eagle Materials returned $414M to shareholders in fiscal 2026, 210% of free cash flow. The diluted share count fell 4.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Eagle Materials yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.5B and divides by 32.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 13.8x · peers 22.8x · sector 20.6x.

Balance sheet

Cash, debt and the ratios that show how comfortably Eagle Materials can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $19.4M$15.2M$34.9M$20.4M$298M
Debt incl. finance leases $1.1B$1.1B$1.1B$1.2B$1.8B
Net debt / EBITDA 1.6x1.3x1.2x1.6x2.0x
Debt / equity 1.0x0.9x0.8x0.9x1.2x
Interest coverage 17.9x19.2x17.0x15.6x12.7x
Current ratio 2.1x2.5x2.6x2.7x3.7x
Quick ratio 1.0x1.1x1.1x1.0x2.1x
Total assets $2.6B$2.8B$2.9B$3.3B$3.8B
Total liabilities $1.4B$1.6B$1.6B$1.8B$2.4B
Shareholders' equity $1.1B$1.2B$1.3B$1.5B$1.5B
Net debt (− = net cash) $1.1B$1.1B$1.1B$1.2B$1.5B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.2M

1 insider

Sold, 12 months

$1.7M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 24, 2026 Tony ThompsonSenior Vice President Sold 3,074 $203.96 $0.6M Form 4
Aug 3, 2026 Margot Lebenberg CarterDirector Sold 561 $212.35 $0.1M Form 4
Jul 31, 2026 Margot Lebenberg CarterDirector Sold 4,654 $203.97 $0.9M Form 4
Nov 5, 2025 David E RushDirector Bought 1,000 $208.08 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✕ ✕ ✕
F-score 7 / 95 / 95 / 9
Accruals ratio −3.0%−2.7%−5.4%
Altman Z'' 4.794.464.12

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Eagle Materials EXP $5.4B 2.1% — 8.6% 16.3% 13.8x 5
Knife River KNF $3.0B 8.5% 9.1% −2.2% 9.1% 21.7x 3 Compare →
Martin Marietta Materials MLM $30.5B 8.6% 23.4% 15.9% 7.7% 12.5x 7 Compare →
Vulcan Materials VMC $34.3B 7.1% 20.4% 14.3% 9.8% 31.2x 8 Compare →
United States Lime & Minerals USLM $3.2B 17.3% 42.4% 27.4% 51.7% 23.9x 5 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $1.2B $1.4B $1.3B $1.4B $1.6B $1.9B $2.1B $2.3B $2.3B $2.3B
Gross profit $312M $339M $348M $343M $408M $520M $639M $685M $673M $653M
Operating income $354M $382M $387M $385M $446M $552M $675M $717M — —
Interest expense $22.6M $27.6M $28.4M $38.4M $44.4M $30.9M $35.2M $42.3M $40.5M $46.5M
Pretax income $295M $272M $129M $95.4M $429M $475M $589M $618M $592M $542M
Income tax $96.3M $15.3M $60.3M $24.5M $89.9M $101M $127M $140M $128M $118M
Net income $198M $257M $68.9M $70.9M $339M $374M $462M $478M $463M $424M
Diluted EPS $4.10 $5.28 $1.47 $1.68 $8.12 $9.14 $12.46 $13.61 $13.77 $13.16
Diluted shares 0.05B 0.05B 0.05B 0.04B 0.04B 0.04B 0.04B 0.04B 0.03B 0.03B
Cash flow
Cash from operations $332M $338M $350M $399M $643M $517M $542M $564M $549M $614M
Capital expenditure $56.9M $132M $169M $132M $53.9M $74.1M $110M $120M $195M $417M
Free cash flow $275M $206M $181M $267M $589M $443M $432M $444M $353M $197M
Depreciation and amortization $91.8M $114M $123M $114M $129M $129M $139M $150M $159M $165M
Stock-based compensation $12.1M $14.1M $15.1M $19.8M $15.3M $14.3M $17.2M $19.9M $18.7M $21.3M
Acquisitions $401M $36.8M $0.0M $699M $0.0M $0.0M $159M $55.1M $175M $0.0M
Share buybacks $60.0M $61.1M $272M $314M $0.0M $590M $388M $343M $298M $382M
Dividends paid $19.3M $19.4M $18.9M $17.1M $4.2M $30.8M $37.5M $35.3M $33.7M $32.4M
Dividends and buybacks $79.4M $80.5M $291M $331M $4.2M $621M $425M $379M $332M $414M
Balance sheet
Cash and short-term investments $6.6M $9.3M $8.6M $119M $264M $19.4M $15.2M $34.9M $20.4M $298M
Total debt $693M $627M $697M $1.6B $1.0B $1.1B $1.1B $1.1B $1.2B $1.8B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $401M $459M $428M $678M $662M $443M $522M $628M $669M $951M
Current liabilities $230M $179M $179M $170M $169M $208M $213M $239M $245M $260M
Inventory $253M $258M $275M $272M $236M $237M $292M $374M $415M $408M
Property and equipment, net $1.5B $1.6B $1.4B $1.8B $1.7B $1.6B $1.7B $1.7B $1.8B $2.1B
Total assets $2.2B $2.4B $2.2B $3.0B $2.8B $2.6B $2.8B $2.9B $3.3B $3.8B
Total liabilities $1.0B $950M $960M $2.0B $1.5B $1.4B $1.6B $1.6B $1.8B $2.4B
Shareholders' equity $1.2B $1.4B $1.2B $968M $1.4B $1.1B $1.2B $1.3B $1.5B $1.5B
Margins
Gross margin 25.8% 24.4% 26.6% 24.4% 25.2% 27.9% 29.8% 30.3% 29.8% 28.3%
Operating margin 29.3% 27.6% 29.5% 27.4% 27.5% 29.7% 31.4% 31.7% — —
EBITDA margin 36.8% 35.8% 38.9% 35.5% 35.4% 36.6% 37.9% 38.4% 35.0% 32.6%
Net margin 16.4% 18.5% 5.3% 5.1% 20.9% 20.1% 21.5% 21.1% 20.5% 18.4%
FCF margin 22.7% 14.8% 13.9% 19.0% 36.3% 23.8% 20.1% 19.6% 15.6% 8.6%
Returns
Return on capital 13.9% 18.4% 10.5% 13.3% 15.5% 20.1% 23.6% 23.9% 19.6% 16.3%
Return on capital employed 18.8% 18.2% 18.5% 16.1% 16.3% 21.9% 27.3% 27.2% 22.1% 17.8%
Return on equity 17.7% 19.6% 5.2% 6.5% 29.2% 30.0% 39.8% 38.3% 33.5% 28.9%
Return on assets 9.6% 11.1% 3.0% 2.8% 11.7% 13.8% 17.2% 16.7% 14.9% 11.9%
Growth
Revenue growth 5.9% 14.5% −5.5% 7.2% 15.6% 14.7% 15.4% 5.2% 0.1% 2.1%
Net income growth 29.9% 29.5% −73.2% 3.0% 378.8% 10.3% 23.3% 3.5% −3.0% −8.6%
EPS growth 34.4% 28.8% −72.2% 14.3% 383.3% 12.6% 36.3% 9.2% 1.2% −4.4%
FCF growth 55.9% −25.1% −11.8% 47.3% 120.5% −24.8% −2.6% 2.8% −20.4% −44.1%
Share count change −3.4% 0.6% −3.5% −9.9% −1.1% −2.1% −9.5% −5.3% −4.1% −4.3%
Financial health
Net debt / EBITDA 1.5x 1.2x 1.4x 2.9x 1.3x 1.6x 1.3x 1.2x 1.6x 2.0x
Debt / equity 0.6x 0.4x 0.6x 1.6x 0.8x 1.0x 0.9x 0.8x 0.9x 1.2x
Interest coverage 15.7x 13.8x 13.6x 10.0x 10.0x 17.9x 19.2x 17.0x 15.6x 12.7x
Current ratio 1.8x 2.6x 2.4x 4.0x 3.9x 2.1x 2.5x 2.6x 2.7x 3.7x
Quick ratio 0.6x 1.1x 0.9x 2.4x 2.5x 1.0x 1.1x 1.1x 1.0x 2.1x
Capital allocation
Capex / revenue 4.7% 9.5% 12.9% 9.4% 3.3% 4.0% 5.1% 5.3% 8.6% 18.1%
Stock comp / revenue 1.0% 1.0% 1.2% 1.4% 0.9% 0.8% 0.8% 0.9% 0.8% 0.9%
Payouts / FCF 28.9% 39.1% 160.4% 123.9% 0.7% 140.1% 98.5% 85.3% 94.0% 209.8%
Quality scores
Piotroski F-score 7.0 6.0 5.0 7.0 7.0 7.0 8.0 7.0 5.0 5.0
Altman Z'' 4.3 5.2 5.1 3.6 4.7 4.3 4.5 4.8 4.5 4.1
Accruals ratio −6.5% −3.5% −12.4% −12.8% −10.5% −5.3% −3.0% −3.0% −2.7% −5.4%

Source: SEC EDGAR XBRL filings (CIK 0000918646). Data updated October 14, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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