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Vulcan Materials

VMC on NYSE. Vulcan Materials Company sells crushed stone, sand, gravel, asphalt, and concrete to construction companies. Market value $31.8bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Materials stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
3.2%fair

For every $100 of what the whole company costs, it produced $3.19 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
22.2×full

You pay 22.2 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
8.4%five-year median

Each dollar kept in the business earns 8 cents a year. Above 10 is good.

Quality score: 91 of 100. Price score: 51 of 100. Our list needs 70 on quality and 60 on price.

$248.85 a share, 5% above its 1-year low

Over the past year the price has ranged from $237.03 to $331.09.

Dividend: 0.8% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.6
0.5
0.7
0.8
1.1
1.0
2021202220232024202512 monthsto Jun '26
Revenue
$5.6bn$7.3bn$7.8bn$7.4bn$7.9bn
Operating margin
18.2%13.0%18.3%18.4%20.4%
Debt to equity
0.610.580.520.660.51
Shares outstanding
0.13bn0.13bn0.13bn0.13bn0.13bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)9 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.51× equity
  • Revenue growth, five yearsStrong, 10.3% a year
  • Buying back its own sharesYes, 2% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $2.2 billion last quarter, up 3% on a year ago.
  • Profit: $323 million, up 1% on a year ago.
  • It keeps 20 cents of each $1 of sales as operating profit, up from 19 cents a year earlier.
  • Spare cash over the past 12 months: $1 billion, down from $1.1 billion.
  • 2% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $4.2 billion more than cash, down from $4.6 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$2.0bn
December 2024$1.9bn
March 2025$1.6bn
June 2025$2.1bn
September 2025$2.3bn
December 2025$1.9bn
March 2026$1.8bn
June 2026$2.2bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$208m
December 2024$294m
March 2025$129m
June 2025$321m
September 2025$375m
December 2025$252m
March 2026$166m
June 2026$323m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
29 October 2026
Last annual report (10-K)
19 February 2026
Next quarterly (estimated, 10-Q)
28 October 2026

Who owns it

11 long-term investors we follow own it, up from 10 last quarter. 1,065 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 7 sold $15m.

  • Hill J Thomas
    Director
    Sold
    Date
    21 August 2026
    Shares
    14,000
    Price
    $276.17
    Value
    $4m
  • Clement David P
    Senior Vice President
    Sold
    Date
    7 August 2026
    Shares
    2,000
    Price
    $285.10
    Value
    $570,200
  • Clement David P
    Senior Vice President
    Sold
    Date
    15 June 2026
    Shares
    2,212
    Price
    $292.29
    Value
    $646,545
  • Anderson Melissa H.
    Director
    Sold
    Date
    20 February 2026
    Shares
    1,137
    Price
    $303.72
    Value
    $345,330
  • BAKER THOMPSON S II
    President
    Sold
    Date
    11 December 2025
    Shares
    7,135
    Price
    $300.81
    Value
    $2m
  • Franklin Denson N. III
    SVP, Gen. Counsel & Secretary
    Sold
    Date
    10 December 2025
    Shares
    665
    Price
    $295.00
    Value
    $196,175
  • Clement David P
    Senior Vice President
    Sold
    Date
    19 November 2025
    Shares
    2,000
    Price
    $288.55
    Value
    $577,100
  • BAKER THOMPSON S II
    President
    Sold
    Date
    12 November 2025
    Shares
    4,853
    Price
    $295.63
    Value
    $1m
  • HALL GRAYSON
    Director
    Sold
    Date
    10 November 2025
    Shares
    4,658
    Price
    $290.74
    Value
    $1m
  • BAKER THOMPSON S II
    President
    Sold
    Date
    10 November 2025
    Shares
    4,243
    Price
    $289.76
    Value
    $1m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

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
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What a finished deep dive looks like

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.