A Business at a Glance
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EAGLE MATERIALS INC
EXP
$6.9B
Mkt Cap
$213.55
+3.11%
EAGLE MATERIALS INC (EXP) has a current P/E ratio of 16.1, compared to its historical median P/E of 18.2. The stock is currently considered Fair based on its historical valuation range.
EAGLE MATERIALS INC (EXP) has a 5-year average return on invested capital (ROIC) of 19.9%. This indicates strong capital allocation and a potential competitive advantage.
EAGLE MATERIALS INC (EXP) has a market capitalization of $6.9B. It is classified as a mid-cap stock.
Yes, EAGLE MATERIALS INC (EXP) pays a dividend with a trailing twelve-month yield of 0.47%. The company also returns capital through share buybacks, with a buyback yield of 5.55%.
Based on historical P/E analysis, EAGLE MATERIALS INC (EXP) appears fair. The current P/E of 16.1 is 12% below its historical median of 18.2. The estimated fair value CAGR (P/E method) is 35.3%.
EAGLE MATERIALS INC (EXP) operates in the Cement, Hydraulic industry, within the Materials sector.
EAGLE MATERIALS INC (EXP) reported annual revenue of $2.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Eagle Materials Inc. is a leading U.S. manufacturer of Portland Cement and Gypsum Wallboard, essential products for building, expanding, and repairing roads, highways, and residential, commercial, and industrial structures. The company operates through a decentralized structure with more than 70 facilities spanning 21 states, positioning plants near both raw material reserves and customers in high-growth U.S. markets to manage transportation and input costs. The business model relies on a regional-market strategy that provides increased customer familiarity, higher brand recognition, and lower freight costs—a meaningful advantage in the construction materials industry where competition is often price-based. Eagle owns or controls at least 25 years of primary raw material reserves for each facility, providing supply certainty and cost control, while its modern production lines and continuous efficiency improvements support a low-cost producer position. The company's competitive strengths include production flexibility to operate at high utilization levels and quickly adjust to demand shifts, a proven management team with significant industry expertise, and a conservative balance sheet strategy focused on maintaining prudent leverage and liquidity through business cycles. Demand for the company's products is generally cyclical and seasonal, dependent on economic and geographic conditions, with heavy materials (cement and aggregates) driven by infrastructure spending and wallboard volumes tied primarily to residential construction activity.
【Infrastructure momentum sustaining demand】 Management remains optimistic about the underlying demand environment for heavy materials, citing continued federal infrastructure spending under IIJA, strength in state-level infrastructure budgets, and positive momentum from data center projects across the company's entire footprint. The wallboard business faces near-term headwinds from residential construction affordability challenges, with management noting that mortgage rate relief is needed to encourage home inventory turnover and normalize new home construction activity. On pricing, the company expects a range-bound environment for wallboard and has announced price increases for cement across most markets, reflecting volume expectations and the company's orientation toward price over volume. Capital spending is expected to peak in fiscal 2027 at $490–$525 million, driven by the Mountain Cement modernization and Duke Oklahoma wallboard facility projects, with both investments targeting double-digit returns and expected to enhance plant efficiency, improve reliability, and strengthen the company's competitive position.
| Metric | Target | Period |
|---|---|---|
| Capital expenditures | $490 million–$525 million | Fiscal 2027 |
Capital expenditures (Fiscal 2027): “Looking ahead to fiscal 2027, we expect capital expenditures to range between $490 million-$525 million, reflecting continued progress on these strategic growth initiatives, as well as ongoing sustaining capital investments across the company.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 2.3B | 2.3B | 2.3B | 2.3B | 2.1B | 1.9B |
| Net Income | 424M | 424M | 463M | 478M | 462M | 374M |
| EPS | $13.16 | $13.16 | $13.77 | $13.61 | $12.46 | $9.14 |
| Free Cash Flow | 197M | 197M | 353M | 444M | 432M | 443M |
| ROIC | 15.7% | 15.9% | 18.3% | 22.4% | 22.7% | 20.0% |
| Gross Margin | 28.3% | 28.3% | 29.8% | 30.3% | 29.8% | 27.9% |
| Debt/Equity | 1.19 | 1.19 | 0.99 | 0.97 | 1.05 | 1.00 |
| Dividends/Share | $1.01 | $1.00 | $1.00 | $1.00 | $1.00 | $0.75 |
| Operating Income | 588M | 588M | 632M | 717M | 675M | 552M |
| Operating Margin | 25.5% | 25.5% | 28.0% | 31.7% | 31.4% | 29.7% |
| ROE | 28.7% | 28.9% | 33.5% | 38.3% | 39.8% | 30.0% |
| Shares Outstanding | 32M | 32M | 34M | 35M | 37M | 41M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.1B | 1.1B | 1.2B | 1.4B | 1.3B | 1.4B | 1.6B | 1.9B | 2.1B | 2.3B | 2.3B | 2.3B | 2.3B |
| Gross Margin | 23.8% | 20.3% | 25.8% | 24.4% | 26.6% | 24.4% | 25.2% | 27.9% | 29.8% | 30.3% | 29.8% | 28.3% | 28.3% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 80M | 93M | 91M | 104M | 91M | 122M | 106M | 103M | 119M | 135M | 149M | 167M | 167M |
| EBIT | 302M | 273M | 354M | 382M | 387M | 385M | 446M | 552M | 675M | 717M | 632M | 588M | 588M |
| Op. Margin | 28.3% | 23.9% | 29.3% | 27.6% | 29.5% | 27.4% | 27.5% | 29.7% | 31.4% | 31.7% | 28.0% | 25.5% | 25.5% |
| Net Income | 187M | 153M | 198M | 257M | 69M | 71M | 339M | 374M | 462M | 478M | 463M | 424M | 424M |
| Net Margin | 17.5% | 13.3% | 16.4% | 18.5% | 5.3% | 5.0% | 20.9% | 20.1% | 21.5% | 21.1% | 20.5% | 18.4% | 18.4% |
| Non-Recurring | 0 | 0 | 0 | 0 | 220M | 224M | 52M | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 12.1% | 9.9% | 11.9% | 16.8% | 14.6% | 14.4% | 13.8% | 20.0% | 22.7% | 22.4% | 18.3% | 15.9% | 15.7% |
| ROE | 18.5% | 14.7% | 17.7% | 19.6% | 5.2% | 6.5% | 29.2% | 30.0% | 39.8% | 38.3% | 33.5% | 28.9% | 28.7% |
| ROA | 9.9% | 8.1% | 9.6% | 11.1% | 3.0% | 2.8% | 11.7% | 13.8% | 17.2% | 16.7% | 14.9% | 11.9% | 11.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 234M | 266M | 332M | 338M | 350M | 399M | 643M | 517M | 542M | 564M | 549M | 614M | 614M |
| Free Cash Flow | 123M | 176M | 275M | 206M | 181M | 267M | 589M | 443M | 432M | 444M | 353M | 197M | 197M |
| Owner Earnings | 145M | 151M | 228M | 210M | 213M | 266M | 499M | 374M | 386M | 394M | 371M | 428M | 428M |
| CapEx | 112M | 90M | 57M | 132M | 169M | 132M | 54M | 74M | 110M | 120M | 195M | 417M | 417M |
| Maint. CapEx | 76M | 97M | 92M | 114M | 123M | 114M | 129M | 129M | 139M | 150M | 159M | 165M | 165M |
| Growth CapEx | 35M | 0 | 0 | 18M | 46M | 19M | 0 | 0 | 0 | 0 | 36M | 252M | 252M |
| D&A | 76M | 97M | 92M | 114M | 123M | 114M | 129M | 129M | 139M | 150M | 159M | 165M | 165M |
| CapEx/OCF | 47.7% | 33.7% | 17.2% | 39.1% | 48.2% | 33.1% | 8.4% | 14.3% | 20.3% | 21.3% | 35.6% | N/A | 67.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 20M | 20M | 19M | 19M | 19M | 17M | 4.2M | 31M | 37M | 35M | 34M | 32M | 32M |
| Dividend Yield | 0.5% | 0.6% | 0.5% | 0.4% | 0.5% | 0.5% | 0.1% | 0.5% | 0.8% | 0.5% | 0.4% | N/A | 0.5% |
| Share Buybacks | 0 | 124M | 60M | 61M | 272M | 314M | 0 | 590M | 388M | 343M | 298M | 382M | 382M |
| Buyback Yield | N/A | 3.7% | 1.3% | 1.3% | 8.2% | 14.6% | N/A | 11.1% | 7.4% | 3.6% | 4.0% | 0.0% | 5.6% |
| Stock-Based Comp | 13M | 17M | 12M | 14M | 15M | 20M | 15M | 14M | 17M | 20M | 19M | 21M | 21M |
| Debt Repayment | 1.7M | 0 | 350M | 0 | 0 | 4.9M | 560M | 8.0M | 43M | 0 | 305M | 345M | 345M |
| Balance Sheet | |||||||||||||
| Net Debt | 828M | 879M | 905M | 852M | 683M | 2.0B | 745M | 1.1B | 1.2B | 1.2B | 1.4B | 1.5B | 1.5B |
| Cash & Equiv. | 7.5M | 5.4M | 6.6M | 9.3M | 8.6M | 119M | 264M | 19M | 15M | 35M | 20M | 298M | 298M |
| Long-Term Debt | 456M | 500M | 605M | 621M | 655M | 1.6B | 1.0B | 938M | 1.1B | 1.1B | 1.2B | 1.7B | 1.7B |
| Debt/Equity | 0.83 | 0.86 | 0.76 | 0.61 | 0.57 | 2.20 | 0.74 | 1.00 | 1.05 | 0.97 | 0.99 | 1.19 | 1.19 |
| Interest Coverage | 25.7 | 16.5 | 15.7 | 13.8 | 13.6 | 10.0 | 10.0 | 17.9 | 19.2 | 17.0 | 15.6 | 12.7 | 12.7 |
| Equity | 1.0B | 1.0B | 1.2B | 1.4B | 1.2B | 968M | 1.4B | 1.1B | 1.2B | 1.3B | 1.5B | 1.5B | 1.5B |
| Total Assets | 1.9B | 1.9B | 2.2B | 2.4B | 2.2B | 3.0B | 2.8B | 2.6B | 2.8B | 2.9B | 3.3B | 3.8B | 3.8B |
| Total Liabilities | 870M | 843M | 1.0B | 950M | 960M | 2.0B | 1.5B | 1.4B | 1.6B | 1.6B | 1.8B | 2.4B | 2.4B |
| Intangibles | 0 | 0 | 236M | 239M | 229M | 396M | 392M | 388M | 466M | 486M | 596M | 585M | 585M |
| Retained Earnings | 750M | 882M | 1.1B | 1.3B | 1.2B | 960M | 1.3B | 1.1B | 1.2B | 1.3B | 1.5B | 1.5B | 1.5B |
| Working Capital | 180M | 259M | 171M | 279M | 248M | 509M | 492M | 235M | 309M | 388M | 424M | 691M | 691M |
| Current Assets | 364M | 380M | 401M | 459M | 428M | 678M | 662M | 443M | 522M | 628M | 669M | 951M | 951M |
| Current Liabilities | 185M | 121M | 230M | 179M | 179M | 170M | 169M | 208M | 213M | 239M | 245M | 260M | 260M |
| Per Share Data | |||||||||||||
| EPS | 3.71 | 3.05 | 4.10 | 5.28 | 1.47 | 1.68 | 8.12 | 9.14 | 12.46 | 13.61 | 13.77 | 13.16 | 13.16 |
| Owner EPS | 2.87 | 3.02 | 4.71 | 4.31 | 4.54 | 6.30 | 11.93 | 9.14 | 10.42 | 11.23 | 11.02 | 13.29 | 13.29 |
| Book Value | 20.07 | 20.80 | 24.89 | 29.17 | 25.82 | 22.94 | 32.51 | 27.68 | 32.01 | 37.29 | 43.28 | 45.80 | 45.80 |
| Cash Flow/Share | 4.65 | 5.31 | 6.86 | 6.95 | 7.48 | 9.46 | 15.38 | 12.63 | 14.62 | 16.07 | 16.30 | 19.07 | 18.28 |
| Dividends/Share | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.10 | 0.75 | 1.00 | 1.00 | 1.00 | 1.00 | 1.01 |
| Shares Out. | 50.4M | 50.0M | 48.3M | 48.6M | 46.8M | 42.2M | 41.8M | 40.9M | 37.0M | 35.1M | 33.7M | 32.2M | 32.2M |
| Valuation | |||||||||||||
| P/E Ratio | 21.1 | 21.6 | 22.8 | 18.2 | 48.2 | 30.3 | 15.8 | 14.2 | 11.3 | 19.8 | 16.0 | N/A | 16.2 |
| P/FCF | 32.1 | 18.7 | 16.4 | 22.8 | 18.3 | 8.0 | 9.1 | 12.0 | 12.1 | 21.3 | 21.0 | N/A | 34.8 |
| EV/EBIT | 17.0 | 16.1 | 16.6 | 17.9 | 37.3 | 26.3 | 288.1 | 12.3 | 10.1 | 15.9 | 13.6 | N/A | 14.2 |
| Price/Book | 3.9 | 3.2 | 3.7 | 3.3 | 2.7 | 2.2 | 3.9 | 4.7 | 4.4 | 7.2 | 5.1 | N/A | 4.7 |
| Price/Sales | 3.9 | 3.0 | 3.3 | 3.4 | 2.8 | 2.5 | 2.2 | 3.1 | 2.2 | 2.9 | 3.8 | N/A | 3.0 |
| FCF Yield | 3.1% | 5.3% | 6.1% | 4.4% | 5.5% | 12.4% | 11.0% | 8.3% | 8.3% | 4.7% | 4.8% | N/A | 2.9% |
| Market Cap | 3.9B | 3.3B | 4.5B | 4.7B | 3.3B | 2.1B | 5.4B | 5.3B | 5.2B | 9.5B | 7.4B | 0 | 6.9B |
| Avg. Price | 82.23 | 68.12 | 82.63 | 97.75 | 83.80 | 83.95 | 86.00 | 142.21 | 125.32 | 185.58 | 254.16 | 0.00 | 213.55 |
| Year-End Price | 78.18 | 65.89 | 93.32 | 96.35 | 70.89 | 50.88 | 128.19 | 129.68 | 141.18 | 269.71 | 220.21 | 0.00 | 213.55 |
EAGLE MATERIALS INC passes 5 of 9 quality checks, suggesting mixed fundamentals.
EAGLE MATERIALS INC trades at 16.1x trailing earnings, compared to its 15-year median P/E of 18.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 29.0x vs a median of 16.4x. The company's 5-year average ROIC is 19.9% with a gross margin of 29.2%. Total shareholder yield (dividends + buybacks) is 6.0%. At current prices, the estimated annualized return to fair value is +9.9%.
EAGLE MATERIALS INC (EXP) has a net profit margin of 18.4%. This is a healthy margin.
EAGLE MATERIALS INC (EXP) generated $197 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
EAGLE MATERIALS INC (EXP) has a debt-to-equity ratio of 1.19. This indicates moderate leverage.
EAGLE MATERIALS INC (EXP) reported earnings per share (EPS) of $13.16 in its most recent fiscal year.
EAGLE MATERIALS INC (EXP) has a return on equity (ROE) of 28.9%. This indicates the company generates strong returns for shareholders.
EAGLE MATERIALS INC (EXP) has a 5-year average gross margin of 29.2%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for EAGLE MATERIALS INC (EXP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EAGLE MATERIALS INC (EXP) has a book value per share of $45.80, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management remains optimistic about the underlying demand environment for heavy materials, citing continued federal infrastructure spending under IIJA, strength in state-level infrastructure budgets, and positive momentum from data center projects across the company's entire footprint. The wallboard business faces near-term headwinds from residential construction affordability challenges, with management noting that mortgage rate relief is needed to encourage home inventory turnover and normalize new home construction activity. On pricing, the company expects a range-bound environment for wallboard and has announced price increases for cement across most markets, reflecting volume expectations and the company's orientation toward price over volume. Capital spending is expected to peak in fiscal 2027 at $490–$525 million, driven by the Mountain Cement modernization and Duke Oklahoma wallboard facility projects, with both investments targeting double-digit returns and expected to enhance plant efficiency, improve reliability, and strengthen the company's competitive position.
Based on recent SEC filings and earnings calls, EAGLE MATERIALS INC (EXP) has provided the following forward guidance: Capital expenditures: $490 million–$525 million (Fiscal 2027).