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Vulcan Materials Company — Intrinsic Value & Fair Price

VMC
NYSEBasic MaterialsConstruction MaterialsCIK 0001396009vulcanmaterials.comAbout VMC
Last close · Oct 16, 2026257.63+5.23 (+2.07%)
Market cap$33.4B
Model value · DCF · Perpetuity growth · 5y
112.60
Vulcan Materials closed at $257.63 — overvalued by 129% vs model.
69.53the model's range234.15

DCF · Perpetuity growth · 5y leads for a cyclical company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
38.88 – 319.60
Wall St. target
308.00 16% below
Above model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
0.80%
Past 2 years
low 0.59%high 0.85%
Dividends per share, a year at a time
$1.45Aug ’21$1.57Aug ’22$1.69Aug ’23$1.81Aug ’24$1.93Aug ’25$2.05TTM
Dividends / free cash flow, FY2025
22.9%
Raised
12 years in a row
Growth, 5 yrs
7.2% a year
Last change
+6.1% · Mar 2026
Every payment, with ex-dates · latest $0.52, paid Sep 2, 2026

Research on VMC

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How it is valued

Valued asCyclical
Low/slowing growth (~1% recent)Moderate margins (14% net margin)Highly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for cyclical companies
P/E
31.8×
EV / EBITDA
14.6×
FCF yield
3.3%
Dividend yield, TTM
0.80%
Beta
1.05
Cost of capital (WACC)
8.77%
Full financials

Analyst actions

third-party, quoted
10-16Raymond James · target308.00
10-09RBC Capital · target256.00
10-08UBS · target326.00
09-09Wells Fargo · “Underweight” from “Equal Weight”downgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label

The weekly

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About Vulcan Materials

Vulcan Materials Company, alongside its affiliated entities, stands as a prominent producer and distributor of construction aggregates, primarily operating within the United States. The company's activities are organized into four distinct divisions: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates division focuses on providing essential materials like crushed stone, sand, gravel, and other foundational aggregates, along with related services. These products are vital for building and maintaining highways, public infrastructure, residential properties, and various commercial, industrial, and other non-residential structures. Through its Asphalt Mix segment, the firm furnishes asphalt mixture to locations in Alabama, Arizona, California, New Mexico, Tennessee, and Texas, additionally performing asphalt paving work in Alabama, Tennessee, and Texas. The Concrete segment supplies ready-mixed concrete to customers in California, Maryland, New Jersey, New York, Oklahoma, Pennsylvania, Texas, Virginia, and Washington D.C. Lastly, the Calcium division is responsible for mining, manufacturing, and marketing calcium products for use in animal feed, plastics, and water treatment industries. Established in 1909, the corporation, initially known as Virginia Holdco, Inc. before its name change, is headquartered in Birmingham, Alabama.

CEO
Ronnie A. Pruitt
Headquarters
Birmingham, AL
Employees
11,548
IPO
1957-01-02
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.