Valmont Industries Inc filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $4.3 billion, which rose 4.6% on the year before. That growth rate was up 0.8 percentage points on the rate a quarter earlier.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q3.
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| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY24 Q4 | -2.4% | 12.9% | 12.1% |
| FY25 Q1 | -0.6% | 12.8% | 12.8% |
| FY25 Q2 | -0.1% | 9.9% | 13.3% |
| FY25 Q3 | 1.2% | 10.2% | 10.0% |
| FY25 Q4 | 0.7% | 10.1% | 7.6% |
| FY26 Q1 | 2.4% | 10.6% | 8.3% |
| FY26 Q2 | 3.8% | 13.7% | 7.6% |
| FY26 Q3 | 4.6% | 14.2% | 7.1% |
What stands out in the filings
Net income rose 98.9% over the year while free cash flow fell 25.0%, indicating that reported profit and cash are moving at different speeds. Capital spending rose 20.8% while operating cash flow fell 14.0%, leaving less of the generated cash as a surplus.
Profitability
Reported profit is running well ahead of the cash. The trailing gross margin was 30.3%. The trailing operating margin was 14.2%, up 4.0 percentage points from a year earlier. Meanwhile, the trailing net margin was 12.1%. Net income over the twelve months was $517.0 million, which rose 98.9% on the year before.
Cash flow
Spending is outrunning the cash the business brings in, so less is left over. Operating cash flow over the twelve months was $463.3 million, down 14.0% on the year before. Capital spending was $156.9 million, or 3.7% of revenue. Free cash flow, operating cash flow less capital spending, was $306.4 million, down 25.0% on the year before. The free-cash-flow margin was 7.1%, down 2.8 percentage points from a year earlier.
Shares outstanding
The average diluted share count fell 2.1% over the year.
Against its own history
Set against the company’s own record: today’s free-cash-flow margin of 7.1% is higher than 65% of the company’s own past quarterly readings, which have ranged from −1.9% to 13.6%. Today’s operating margin of 14.2% is higher than 98% of past readings (5.0% to 14.3%). Today’s twelve-month revenue growth rate of 4.6% is higher than 55% of past readings (−16.3% to 40.0%).
Guidance
The company kept its full-year 2026 guidance for net sales at $4.3 billion to $4.45 billion, for infrastructure net sales for Infrastructure at $3.4 billion to $3.5 billion, and for agriculture net sales for Agriculture at $0.9 billion to $0.95 billion. The company raised its full-year 2026 guidance for adjusted diluted earnings per share to a range of $22.75 to $23.75.
What it means for our valuation
These trends feed directly into what the shares are worth in our model. In our model, growth 5 percentage points lower would lower the value by 27.8%, and 5 percentage points higher would raise it by 36.4%. A free-cash-flow margin 1 percentage point lower would lower it by 14.1%.
What comes next
The next filing will show whether the trends above continue, slow or reverse.
