VMC
Updated: 24/09/2026, 01:34:10
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.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.
Revenue
$7.9B
FY 2025 · Reported
Net income
$1.1B
FY 2025 · Reported
Gross margin
27.4%
FY 2025 · Calculated
Free cash flow
$1.1B
FY 2025 · Calculated
R&D intensity
N/A
FY — · Reported
Share repurchases
$0.4B
FY 2025 · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Company overview
Largest U.S. supplier of construction aggregates; major producer of asphalt mix and ready-mixed concrete
“Vulcan Materials Company operates primarily in the U.S. and is the nation's largest supplier of construction aggregates (mainly crushed stone, sand and gravel) and a major producer of aggregates-intensive downstream products such as asphalt mix and ready-mixed concrete.”
Operating footprint
425 active aggregates facilities, 71 asphalt facilities, 76 concrete facilities (2025)
“During the year ended December 31, 2025, we had 425 active aggregates facilities as shown below.”
Reserves
16.6 billion tons of proven and probable aggregates reserves
“We currently have 16.6 billion tons of proven and probable aggregates reserves.”
Government customers
Diversified government customer base across several hundred entities
“our sales to government entities span several hundred entities coast-to-coast, ensuring that negative changes to various government budgets would have a muted impact”
Downstream raw material sourcing
Cement purchased from third-party producers; cement substitutes from few suppliers; admixtures under national agreements
“We purchase cement-related materials from a few suppliers in each of our major geographic markets. Chemical admixtures are generally purchased from suppliers under national purchasing agreements.”
Top revenue states 2025
Top ten revenue states = 90% of 2025 revenues; top five = 63%
“Our top ten revenue producing states accounted for 90% of our 2025 revenues while our top five accounted for 63%.”
Acquisition history
Acquisitions: CalMat (1999), Florida Rock (2007), Aggregates USA (2017), U.S. Concrete (2021); 30+ acquisitions in last 10 years
“During the last 10 years, we have completed over 30 acquisitions, including more than 75 aggregates quarries and sales yards in our top 10 revenue states.”
Unit profitability improvement
Aggregates gross profit/ton rose from $7.40 (2023) to $8.66 (2025), +17%; cash gross profit/ton from $9.46 to $11.33, +20%
“from 2023 to 2025, aggregates gross profit per ton has increased from $7.40 to $8.66 (an increase of 17%), and aggregates cash gross profit per ton has increased from $9.46 to $11.33 (an increase of 20%).”
Market share and competitors
Vulcan ~10% U.S. aggregates market share; top ten producers ~35% of 2025 U.S. production
“We estimate that the ten largest aggregates producers accounted for approximately 35% of the total U.S. aggregates production in 2025. Despite being the industry leader, Vulcan's total U.S. market share is approximately 10%.”
Business strategy pillars
Aggregates-led strategy targeting fast-growing U.S. metropolitan areas
“Our strategy for long-term value creation is built on: (1) an aggregates-led business, (2) a discipline of durable growth, (3) a holistic approach to land management, and (4) our commitment to safety, health and the environment.”
Energy and emissions management
Solar, battery storage, Tier IV equipment (>67% of off-road fleet work in 2025) and CarbonCure reduce costs and emissions
“Tier IV machines performed over 67% of the off-road fleet's work in 2025”
Debt profile
$4,362.1 million debt maturing 2027-2054; 1.9x debt/Adjusted EBITDA; 13.7-yr weighted avg maturity; 5.0% rate
“We currently have $4,362.1 million of debt with maturities between 2027 and 2054.”
2026 outlook
2026: shipments +1-3%, price +4-6%, Adjusted EBITDA $2.4-2.6B, capex $750-800M
“Total shipments up 1% to 3% (226.8 million tons in 2025)”
2025 financial summary
FY2025: revenues $7,941.1M (+7%); Adjusted EBITDA $2,323.6M (+13%); net earnings $1,076.7M (+18%); shipments 226.8M tons
“Total revenues increased $523.4 million, or 7%, to $7,941.1 million”
Hewitt Landfill Environmental Matter
Hewitt Landfill Environmental Matter: on-site remediation accrued; LADWP claim not estimable
“the Company cannot reasonably estimate a range of loss pertaining to LADWP's potential contribution claim.”
Mexico Calica operations halted
Production halted at Calica (Mexico) and Puerto Cortés (Honduras); Mexican government actions deemed arbitrary and illegal by Vulcan
“Production and sales are currently halted at our Calica operations in Mexico and our Puerto Cortés operations in Honduras.”
Surety bonds
Contingently liable for $1,059.8 million across 444 surety bonds at Dec 31, 2025
“we were contingently liable for $1,059.8 million within 444 surety bonds underwritten by various surety companies.”
Construction cycle dependency
Business dependent on construction industry and economic cycles
“Our business is dependent on the construction industry and is subject to economic cycles — Our products are principally sold to the U.S. construction industry.”
Infrastructure funding dependency
Dependent on federal, state and local infrastructure funding; IIJA supports demand for several years
“This federal highway program, as well as funding for other aggregates-intensive public infrastructure, will support demand for our products for several years to come.”
Trade policy and tariff uncertainty
Trade policy/tariff uncertainty may negatively impact shipment volumes
“Our industry is experiencing uncertainty due to rapid changes in global trade policies including announced tariff increases, potential additional tariff increases”
Aggregates substitutes
Expanded use of recycled concrete and asphalt could reduce aggregates demand
“The expanded use of recycled concrete and asphalt could cause a significant reduction in the demand for aggregates.”
Labor constraints and inflation
Inflation and labor constraints impact operations; may extend recovery while allowing price compounding
“labor constraints can cause delays and inefficiencies in our operations as well as those of our customers.”
Vulcan operates primarily in the U.S.; top ten revenue states account for 90% of 2025 revenues.
“Vulcan Materials Company operates primarily in the U.S. and is the nation's largest supplier of construction aggregates”
Demand for aggregates is dependent on construction activity and correlates with population, employment and household formations.
“Demand for our products is dependent on construction activity and correlates positively with changes in population, employment and household formations.”
IIJA federal highway funding and other public infrastructure funding support aggregates demand for several years.
“This federal highway program, as well as funding for other aggregates-intensive public infrastructure, will support demand for our products for several years to come.”
Approximately 40% to 55% of aggregates shipments historically used in publicly-funded construction such as highways, airports and government buildings.
“approximately 40% to 55% of our aggregates shipments have historically been used in publicly-funded construction, such as highways, airports and government buildings”
Mexican government shutdown orders, permit suspension, closure order and ANP Decree halted Calica production; Vulcan pursuing NAFTA arbitration and lawful remedies.
“the Mexican government has taken actions adverse to our property and operations in Mexico. On May 5, 2022, Mexican government officials presented employees at our Calica operations in Quintana Roo, Mexico with arbitrary shutdown orders to immediately cease underwater quarrying and extraction operations.”
Changes in interest rates are a listed forward-looking risk affecting construction spending and financing costs; $4,362.1 million debt outstanding.
“Construction spending is affected by general economic conditions, changes in interest rates, demographic shifts, industry cycles, employment levels, inflation”
Martin Marietta is among other publicly traded companies among the ten largest U.S. aggregates producers.
“other publicly traded companies among the ten largest U.S. aggregates producers include the following: •Arcosa, Inc. •Amrize •Cemex S.A.B. de C.V. •CRH plc •Heidelberg Materials AG •Knife River Corporation •Martin Marietta Materials, Inc.”
Ready-mixed concrete production requires cement purchased from third-party producers; Vulcan does not produce cement.
“Ready-mixed concrete production also requires cement which we purchase from third-party producers.”
Labor constraints can cause delays and inefficiencies in operations and customers' operations, potentially slowing pace of work.
“labor constraints can cause delays and inefficiencies in our operations as well as those of our customers.”
Tariffs and trade measures may pressure customers and negatively impact shipment volumes.
“Economic pressures on our customers, including the challenges of inflation and the impact of tariffs and other trade measures, may negatively impact our shipment volumes.”
CRH plc named among the ten largest U.S. aggregates producers competing with Vulcan.
“other publicly traded companies among the ten largest U.S. aggregates producers include the following: •Arcosa, Inc. •Amrize •Cemex S.A.B. de C.V. •CRH plc”
See which prediction-market events move VMC, how its filings map to real-world exposure, and what 12 AI strategies are doing with positions like it.
Free forever to follow AlphaBrain’s AI strategies. No card required.
Rapala VMC Corporation's Business Review Q1/2026: Positive start driven by new product introductions and strong fill rates for seasonal load orders
GlobeNewsWire • STOCK • 13/05/2026, 09:15:00
VULCAN DECLARES QUARTERLY DIVIDEND ON COMMON STOCK
PRNewsWire • STOCK • 08/05/2026, 18:20:00
Vulcan Materials Company (VMC) Q1 2026 Earnings Call Transcript
Seeking Alpha • STOCK • 29/04/2026, 18:21:53
VMC Q1 Earnings & Revenues Beat Estimates on Pricing and Cost Control
Zacks Investment Research • STOCK • 29/04/2026, 15:10:24
Vulcan Materials (VMC) Q1 Earnings and Revenues Beat Estimates
Zacks Investment Research • STOCK • 29/04/2026, 11:30:41
VULCAN REPORTS FIRST QUARTER 2026 RESULTS
PRNewsWire • STOCK • 29/04/2026, 09:00:00
Here's What Investors Must Know Ahead of Vulcan's Q1 Earnings
Zacks Investment Research • STOCK • 27/04/2026, 14:36:05
Rapala VMC Corporation's Annual Report 2025 has been released
GlobeNewsWire • STOCK • 08/04/2026, 08:00:00
Bear of the Day: Vulcan Materials (VMC)
Zacks Investment Research • STOCK • 16/03/2026, 06:01:07
Vulcan Materials Company (VMC) Analyst/Investor Day Transcript
Seeking Alpha • STOCK • 12/03/2026, 16:02:17
VULCAN MATERIALS TO OUTLINE NEW GROWTH AND PROFITABILITY TARGETS AT 2026 INVESTOR DAY
PRNewsWire • STOCK • 12/03/2026, 08:00:00
Rapala VMC Corporation Resolved on New Performance Period 2026-2028 for the Company's Performance Share Plan
GlobeNewsWire • STOCK • 11/03/2026, 10:30:00
