Eagle Materials
EXP · Construction Materials
$174.71
2.3%Vulcan Materials
VMC · Construction Materials
$261.69
2.6%The short version
- Vulcan Materials is the larger business, with $7.9B of revenue in fiscal 2025 against $2.3B for Eagle Materials, about 3.4 times as much.
- Vulcan Materials grew revenue faster (7.1%, against 2.1%).
- Vulcan Materials turned more of its sales into free cash flow (14.3% FCF margin, against 8.6% FCF margin).
- Eagle Materials earned a higher return on the capital invested in it (16.3%, against 9.8%).
- Investors pay more for each dollar of Vulcan Materials’s earnings: a P/E of 31.2x against 13.8x for Eagle Materials.
| Latest fiscal year | EXP · FY26 | VMC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.4B | $34.3B |
| Revenue | $2.3B | $7.9B |
| Free cash flow | $197M | $1.1B |
| Net income | $424M | $1.1B |
| Growth | ||
| Revenue growth | 2.1% | 7.1% |
| 5-year growth | 7.3% | 10.3% |
| Share count change | −4.3% | −0.3% |
| Profitability | ||
| Gross margin | 28.3% | 27.4% |
| Operating margin | — | 20.4% |
| Net margin | 18.4% | 13.6% |
| FCF margin | 8.6% | 14.3% |
| Return on capital | 16.3% | 9.8% |
| Return on equity | 28.9% | 12.9% |
| Balance sheet | ||
| Net debt | $1.5B | $4.2B |
| Net debt / EBITDA | 2.0x | 1.8x |
| Dividends and buybacks | $414M | $698M |
| Valuation & quality | ||
| P/E | 13.8x | 31.2x |
| Piotroski F-score | 5 | 8 |
FY17
EXP $1.2B
VMC $3.9B
FY18
EXP $1.4B
VMC $4.4B
FY19
EXP $1.3B
VMC $4.9B
FY20
EXP $1.4B
VMC $4.9B
FY21
EXP $1.6B
VMC $5.6B
FY22
EXP $1.9B
VMC $7.3B
FY23
EXP $2.1B
VMC $7.8B
FY24
EXP $2.3B
VMC $7.4B
FY25
EXP $2.3B
VMC $7.9B
FY26
EXP $2.3B
VMC —
EXP
VMC
FY17
EXP 29.3%
VMC 16.4%
FY18
EXP 27.6%
VMC 17.1%
FY19
EXP 29.5%
VMC 17.8%
FY20
EXP 27.4%
VMC 18.4%
FY21
EXP 27.5%
VMC 18.2%
FY22
EXP 29.7%
VMC 13.0%
FY23
EXP 31.4%
VMC 18.3%
FY24
EXP 31.7%
VMC 18.4%
FY25
EXP —
VMC 20.4%
FY26
EXP —
VMC —
EXP
VMC
FY17
EXP $275M
VMC $185M
FY18
EXP $206M
VMC $364M
FY19
EXP $181M
VMC $600M
FY20
EXP $267M
VMC $708M
FY21
EXP $589M
VMC $561M
FY22
EXP $443M
VMC $536M
FY23
EXP $432M
VMC $664M
FY24
EXP $444M
VMC $806M
FY25
EXP $353M
VMC $1.1B
FY26
EXP $197M
VMC —
EXP
VMC
FY17
EXP 13.9%
VMC 9.1%
FY18
EXP 18.4%
VMC 7.9%
FY19
EXP 10.5%
VMC 8.9%
FY20
EXP 13.3%
VMC 8.7%
FY21
EXP 15.5%
VMC 8.5%
FY22
EXP 20.1%
VMC 6.8%
FY23
EXP 23.6%
VMC 10.2%
FY24
EXP 23.9%
VMC 9.2%
FY25
EXP 19.6%
VMC 9.8%
FY26
EXP 16.3%
VMC —
EXP
VMC
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.