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EXP

Eagle Materials Inc.

EXP

Eagle Materials Inc. • NYSE
$223.72 ▲ 1.14% (+2.52)
Market Cap $7.34 B
52w High $309.23
52w Low $191.91
Dividend Yield 1.00%
P/E 16.47
Volume 167.87K
Outstanding Shares 32.82M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $638.906M ▲ $21.316M ▲ $137.383M ▲ 21.503% ▲ $4.25 ▲ $250.18M ▲
Q1-2025 $634.69M ▲ $20.783M ▲ $123.362M ▲ 19.437% ▲ $3.78 ▲ $210.369M ▲
Q4-2024 $470.175M ▼ $19.596M ▼ $66.48M ▼ 14.139% ▼ $2.01 ▼ $134.061M ▼
Q3-2024 $558.025M ▼ $20.818M ▲ $119.574M ▼ 21.428% ▼ $3.59 ▼ $202.82M ▼
Q2-2024 $623.619M $17.879M $143.52M 23.014% $4.29 $235.6M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $35.033M ▼ $3.409B ▲ $1.872B ▼ $1.537B ▲
Q1-2025 $59.739M ▲ $3.397B ▲ $1.906B ▲ $1.492B ▲
Q4-2024 $20.401M ▼ $3.265B ▲ $1.808B ▲ $1.457B ▼
Q3-2024 $31.173M ▼ $3.044B ▼ $1.548B ▼ $1.496B ▲
Q2-2024 $93.909M $3.122B $1.69B $1.432B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $137.383M ▲ $204.597M ▲ $-108.538M ▼ $-120.765M ▼ $-24.706M ▼ $96.059M ▲
Q1-2025 $123.362M ▲ $136.634M ▲ $-76.097M ▲ $-21.199M ▼ $39.338M ▲ $60.537M ▲
Q4-2024 $66.48M ▼ $62.768M ▼ $-198.275M ▼ $124.735M ▲ $-10.772M ▲ $14.462M ▼
Q3-2024 $119.574M ▼ $119.882M ▼ $-47.37M ▲ $-135.248M ▼ $-62.736M ▼ $72.512M ▼
Q2-2024 $143.52M $233.262M $-91.358M $-94.535M $47.369M $166.785M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Cement
Cement
 $300.00M ▲$210.00M ▼$350.00M ▲$380.00M ▲
Concrete And Aggregates
Concrete And Aggregates
 $60.00M ▲$60.00M ▲$80.00M ▲$90.00M ▲
Gypsum Wallboard
Gypsum Wallboard
 $210.00M ▲$200.00M ▼$220.00M ▲$180.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Over the past several years, Eagle Materials has shown a clear pattern of healthy growth in sales and profits, with particularly strong improvement coming out of 2020. Revenue has climbed meaningfully over time, though in the most recent year it has flattened rather than grown. Profitability remains a major strength: gross and operating margins are high for a materials business and have improved compared with earlier years, even if they softened slightly most recently. Net income has generally trended upward and looks resilient despite the cyclical nature of construction. Earnings per share have grown faster than total profits, which suggests the company has been reducing its share count. Overall, the income statement reflects a mature, efficient operator with strong margins, but with growth now moderating rather than accelerating.

Balance Sheet

Balance Sheet The balance sheet shows a business that has been investing and growing while using a measured amount of debt. Total assets have risen over time, reflecting plant upgrades, acquisitions, and capacity investments. Shareholders’ equity has also grown steadily, indicating that profits are being retained in the business and the capital base is strengthening. Debt has increased but remains broadly in line with the larger scale of the company. Leverage looks reasonable for a stable, cash-generative materials producer, though it does mean some sensitivity to any sharp downturn in demand or interest-rate environment. Cash on hand is quite low, pointing to an efficient but relatively tight cash position: the company appears comfortable operating with a lean liquidity buffer, relying on its ongoing cash generation. In sum, the balance sheet looks solid and purposeful, but with less “rainy day” cash than more conservative structures might carry.

Cash Flow

Cash Flow Eagle Materials’ cash flow profile is a key strength. Operating cash flow has been consistently strong over the past five years, closely tracking the steady rise in earnings. This indicates that reported profits are well backed by actual cash coming in the door, with no obvious signs of aggressive accounting. Free cash flow has been healthy, although it has edged down from its earlier peak because the company is spending more on capital projects. Capital spending has ramped up significantly, which fits with its modernization and expansion plans. This trade-off—lower near-term free cash in exchange for future efficiency and capacity—is deliberate. The company appears to be using its cash primarily for reinvestment, acquisitions, and shareholder returns rather than building up cash balances. That supports efficiency and growth but leaves less cushion if the construction cycle turns sharply downward.

Competitive Edge

Competitive Edge Eagle Materials occupies a strong niche in the U.S. construction materials space, built around being a low-cost producer in heavy and light building materials. Its plants are located close to key regional markets, which is important because products like cement and aggregates are expensive to ship. This geographic advantage helps keep freight costs down and pricing power up. The company benefits from a diversified product mix: cement, concrete, aggregates, gypsum wallboard, and recycled paperboard. This spreads its exposure across residential, commercial, and infrastructure demand, softening the impact of weakness in any single segment. Its long-lived natural gypsum reserves offer an important edge as synthetic gypsum has become less available. At the same time, Eagle operates in a cyclical, highly competitive, and largely commodity-based industry. Pricing is influenced by housing starts, commercial construction, and public infrastructure spending. Energy and fuel costs are also important drivers of profitability. Overall, its cost position, footprint, and product mix form a meaningful competitive moat, but one that still sits inside a cyclical environment.

Innovation and R&D

Innovation and R&D Eagle’s “innovation” is less about new products and more about continual process improvement, sustainability, and disciplined capital investment. The company is investing heavily in modernizing its plants, such as the major upgrade of its Oklahoma wallboard facility. These projects focus on lowering unit costs, improving energy efficiency, and boosting capacity—all of which reinforce its low-cost producer status. Increased use of alternative fuels and more efficient equipment can reduce both costs and emissions. On the product side, Eagle is leaning into more sustainable offerings like blended cements (including Portland Limestone Cement) and wallboard that uses 100% recycled paper facing. Its strong natural gypsum resource position supports reliability of supply as synthetic sources decline. Eagle is also involved in greenhouse gas reduction efforts and research partnerships, including work with government agencies on CO₂ reduction. While this isn’t traditional high-tech R&D, it is strategic: it prepares the company for tighter environmental rules, helps manage long-term energy and carbon risks, and deepens customer appeal for greener building materials.

Summary

Eagle Materials presents as a well-run, high-margin building materials company with a clear strategy: be the low-cost, efficient producer in essential products like cement, wallboard, and aggregates. The income statement shows strong profitability and solid growth over several years, though top-line expansion has recently leveled off. The balance sheet is sound, with growing equity and manageable leverage, but minimal cash reserves. Cash generation is robust and reliable, funding both heavy reinvestment and capital returns. Strategically, Eagle benefits from its plant locations, product diversity, and natural resource base, which together underpin a durable competitive position in a cyclical industry. Its focus on modernization, alternative fuels, and lower-carbon products supports both its cost advantage and its positioning for a more sustainability-focused regulatory and customer environment. Key watchpoints include the health of U.S. construction and infrastructure markets, input cost and energy trends, execution on large capital projects, and the balance between shareholder returns, debt levels, and liquidity. Overall, the company looks like an efficient, scale-driven operator that is using its cash flows to strengthen its long-term competitive footing rather than simply standing still.

NEWS

November 10, 2025 · 4:15 PM UTC

Eagle Materials Declares Quarterly Dividend

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October 30, 2025 · 6:30 AM UTC

Eagle Materials Reports Second Quarter Results

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October 21, 2025 · 4:15 PM UTC

Eagle Materials Schedules Second Quarter Fiscal 2026 Earnings Release and Conference Call With Senior Management

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