--- title: Vulcan Materials (VMC) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/vmc ticker: VMC as_of: 2026-10-17 sector: Basic Materials industry: Construction Materials --- # Vulcan Materials (VMC) Vulcan Materials (VMC) closed at $257.63 on Oct 16, 2026, overvalued by 129% vs its model value of $112.60 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $257.63 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $112.60 | | Price vs model | overvalued by 129% vs model | | Range of that model | $69.53 – $234.15 | | Market value | $33.4B | | P/E (fiscal 2025) | 31.8 | | Net margin (fiscal 2025) | 13.6% | | Free cash flow (fiscal 2025) | $1.1B | | Dividend yield (trailing twelve months) | 0.80% | | Beta | 1.05 | | Cost of capital (WACC) | 8.77% | | Business classification | Cyclical (Low/slowing growth (~1% recent), Moderate margins (14% net margin), Highly cyclical earnings) | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 0.80% | | Dividends per share, last 12 months | $2.05 | | Dividends / free cash flow (fiscal 2025) | 22.9% | | Raised | 12 years in a row | | Growth over 5 years | 7.2% a year | | Latest payment | $0.52, ex-date Aug 13, 2026, paid Sep 2, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Aug 17, 2021 | $1.45 | | To Aug 16, 2022 | $1.57 | | To Aug 16, 2023 | $1.69 | | To Aug 15, 2024 | $1.81 | | To Aug 14, 2025 | $1.93 | | Trailing twelve months (to Aug 13, 2026) | $2.05 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $112.60 | $69.53 | $234.15 | | DCF · Perpetuity growth · 10y | cross check | $133.32 | $85.10 | $267.72 | | DCF · EBITDA exit · 5y | cross check | $154.52 | $87.72 | $233.50 | | DCF · EBITDA exit · 10y | cross check | $168.45 | $98.70 | $262.70 | | P/E · peers | cross check | $133.41 | $123.47 | $166.73 | | P/E · own history | cross check | $319.60 | $296.75 | $358.62 | | PEG | sanity check | $101.49 | $101.49 | $101.49 | | EV/EBITDA · peers | cross check | $142.35 | $130.75 | $161.04 | | EV/Revenue · peers | cross check | $82.58 | $76.75 | $99.66 | | Earnings power value | cross check | $54.11 | $41.61 | $71.77 | | Dividend discount | cross check | $38.88 | $27.54 | $60.28 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 5 open-market sales ($4.4M); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Aug 21, 2026 | Hill J Thomas | Director | Open-market sell | 5,696 | $1.6M | | Aug 21, 2026 | Hill J Thomas | Director | Open-market sell | 3,762 | $1.0M | | Aug 21, 2026 | Hill J Thomas | Director | Open-market sell | 542 | $150,182.8 | | Aug 21, 2026 | Hill J Thomas | Director | Open-market sell | 4,000 | $1.1M | | Aug 12, 2026 | Hill J Thomas | Director | Option/RSU exercise | 26,100 | $3.0M | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Jul 29, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1396009/000162828026050486/vmc-20260630.htm | | Jul 29, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1396009/000114036126029958/ef20078928_8k.htm | | Jul 27, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1396009/000114036126029775/ef20078709_8k.htm | | May 11, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 5.07 Submission of Matters to a Shareholder Vote | https://www.sec.gov/Archives/edgar/data/1396009/000114036126020591/ef20072943_8k.htm | | Apr 29, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1396009/000162828026028318/vmc-20260331.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | Chris Hohn | 2026-06-30 | 2,447,004 | $721.9M | | John Armitage | 2026-06-30 | 1,971,694 | $581.7M | | Lee Ainslie | 2026-06-30 | 637,264 | $188.0M | | Wallace Weitz | 2026-06-30 | 203,800 | $60.1M | 7 tracked managers in all. ## About 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 r… --- Source: https://sweetvaluelab.com/stocks/vmc (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.