Eagle Materials
EXP on NYSE. Eagle Materials sells cement, wallboard, and other building materials to construction businesses. Market value $5.2bn.
Figures from the annual report for the year ended 31 March 2027.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Materials stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
Each dollar kept in the business earns 22 cents a year. Above 10 is good.
Quality score: 90 of 100. Price score: not known. Our list needs 70 on quality and 60 on price.
$169.82 a share, at its 1-year low
Over the past year the price has ranged from $167.32 to $245.53.
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $1.9bn | $2.1bn | $2.3bn | $2.3bn | n/a |
| Operating margin | |||||
| Operating margin | 29.7% | 31.4% | 31.7% | 28.0% | n/a |
| Debt to equity | |||||
| Debt to equity | 0.98 | 0.93 | 0.84 | 0.86 | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.04bn | 0.03bn | 0.03bn | 0.03bn | n/a |
Health checks
- Free cash flow positive4 of 4 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- DebtUnknown
- Revenue growth, five yearsSlow, 8.6% a year
The quarter to March 2027
How the business did, compared with the same quarter a year earlier.
| Quarter to | Amount |
|---|---|
| September 2024 | $624m |
| December 2024 | $558m |
| March 2025 | $470m |
| June 2025 | $635m |
| September 2025 | $639m |
| December 2025 | $556m |
| June 2026 | $651m |
| March 2027 | Not reported |
| Quarter to | Amount |
|---|---|
| September 2024 | $144m |
| December 2024 | $120m |
| March 2025 | $66m |
| June 2025 | $123m |
| September 2025 | $137m |
| December 2025 | $103m |
| June 2026 | $102m |
| March 2027 | Not reported |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 19 May 2026
- Next quarterly (estimated, 10-Q)
- 28 October 2026
Who owns it
9 long-term investors we follow own it, down from 10 last quarter. 533 funds in all.
- Barrow HanleyBarrow Hanley team
- Value
- $6m
- Share of fund
- <0.1%
- Markel GroupTom Gayner
- Value
- $3m
- Share of fund
- <0.1%
- Cambiar InvestorsBrian Barish
- Value
- $2m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Baupost GroupSeth Klarman | $119m | 2.2% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $16m | <0.1% | Added |
| Barrow HanleyBarrow Hanley team | $6m | <0.1% | |
| GMOJeremy Grantham | $6m | <0.1% | Cut |
| Markel GroupTom Gayner | $3m | <0.1% | |
| Horizon KineticsMurray Stahl | $2m | <0.1% | Cut |
| Polaris Capital ManagementBernard Horn | $2m | 0.2% | Added |
| Cambiar InvestorsBrian Barish | $2m | <0.1% | |
| Delphi ManagementScott Black | $1m | 1.4% | Added |
Sold out this quarter
Largest holders overall
- FMR$816m
- BlackRock$688m
- Vanguard Capital Management$316m
- Vanguard Portfolio Management$301m
- Alliancebernstein L.P.$234mAdded
- State Street$227mAdded
- JPMorgan Chase$218mAdded
- Neuberger Berman Group$200mAdded
- Black Creek Investment Management$186mAdded
- Geode Capital Management$180mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- FMR LLCPassive investorat least 11.6%(filed with 1 related holder)Since 31 March 2026
- JPMORGAN CHASE & CO.Passive investor6.2%Since 31 March 2025
- Vanguard Capital ManagementPassive investor5.3%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 11.6% (filed with 1 related holder) | 31 March 2026 | |
JPMORGAN CHASE & CO. Passive investor | 6.2% | 31 March 2025 | |
Vanguard Capital Management Passive investor | 5.3% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $208,080 of shares on the open market. 2 sold $2m.
- Thompson TonySenior Vice PresidentSold
- Date
- 24 August 2026
- Shares
- 3,074
- Price
- $203.96
- Value
- $626,977
- Carter Margot LebenbergDirectorSold
- Date
- 3 August 2026
- Shares
- 561
- Price
- $212.35
- Value
- $119,128
- Carter Margot LebenbergDirectorSold
- Date
- 31 July 2026
- Shares
- 4,654
- Price
- $203.97
- Value
- $949,269
- Rush David EDirectorBought
- Date
- 5 November 2025
- Shares
- 1,000
- Price
- $208.08
- Value
- $208,080
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 24 August 2026 | Thompson Tony Senior Vice President | Sold | 3,074 | $203.96 | $626,977 |
| 3 August 2026 | Carter Margot Lebenberg Director | Sold | 561 | $212.35 | $119,128 |
| 31 July 2026 | Carter Margot Lebenberg Director | Sold | 4,654 | $203.97 | $949,269 |
| 5 November 2025 | Rush David E Director | Bought | 1,000 | $208.08 | $208,080 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 May 2026, plus the 10-Q filed 29 Jul 2026 and 4 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.