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Eagle Materials Inc (EXP) stock

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NYSE: EXP NYSE Construction Materials Next results ~November 4, 2026

C Fundamentals grade

Eagle Materials Inc is a US-listed company in the construction materials industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$130

Cash-flow model

Base case. Range ~$81–$180 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 36% below it.

Price used: $195.52, November 2, 2026

Eagle Materials Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 2 selling1 purchase and 5 sales by directors and officers, last 12 monthsInsider trades
  • Funds270 adding, 203 cuttingOf 57 active managers that changed their stake, 27 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Eagle Materials files

Where Eagle Materials stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.32bn, up 1.7% on a year earlier, about the same pace as a quarter earlier. That puts it 776 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to 7.3% from 13.7% a year earlier. The diluted share count is down 4.8% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 6 financial-health checks. Our cash-flow model value is $108 a share, against a share price of $171. At that price, our model says the market is pricing in about 8.1% a year of cash-flow growth for five years, faster than the 4.5% a year revenue growth it has delivered.

Source: 10-Q filed July 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Eagle Materials Inc's trailing-twelve-month revenue grew 1.7% year on year, with a free-cash-flow margin of 7.3%. Where it stands out: change in share count of -4.8% ranks 1 of 8 construction materials companies we cover. Where it lags: long-term debt as % of assets of 44.6% ranks 8 of 8 construction materials companies we cover.

Our discounted-cash-flow model values the business at ~$130 per share in the base case (~$81–$180 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 45.7% while net income fell 11.1%: a 35pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 31.7% of revenue is left as operating profit.
  • Shrinking share count. Diluted shares fell 4.8% in a year, so each share owns more of the business.

Things to watch

  • Priced above our value. The share price of $195.52 is 36% above our value per share of $130.
  • Gross margin slipping. Gross margin is down 2.4 points on a year ago.
  • Weak cash conversion. Free cash flow was 42% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 44.6% ranks 8 of 8 construction materials companies we cover (median 23.9%).
  • Below peers: revenue growth. Revenue growth of 1.7% ranks 7 of 8 construction materials companies we cover (median 5.6%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2027 Q1

Filed July 29, 2026
Earnings per share
$3.29 against an average estimate of $3.38: missed by 2.8%
Revenue
$651m, up 2.6% on a year earlier
Share reaction
-7.5% in the first session after the results on July 29, 2026, against +0.1% for the S&P 500
Next report
November 4, 2026; average EPS estimate $3.85

Eagle Materials' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+6.5%
  • 1 week+12.4%
  • 1 month+14.1%
  • This year-5.0%
  • 1 year-7.5%
  • 5 years+31.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.3B
Net margin
17.3%
EPS (TTM, diluted)
$12.67

Growth

Revenue growth
+1.7%
Change in growth rate
−0.4 pts
Share count change
−4.8%

Cash

Free cash flow (TTM)
$171M
FCF margin
7.3%
Stock pay % of revenue
0.9%

Earnings

Last results
July 29, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Shareholder vote
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Eagle Materials Inc valuation models and calculator

What the price is pricing in

The share price implies about 8.0% a year of cash-flow growth for five years.That is close to the 4.5% a year revenue growth Eagle Materials has delivered.

  • Priced in8.0%
  • Last 12 months1.7%
  • 3 years a year2.0%
  • 5 years a year4.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($197.63, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$130
Price used
$197.63close November 3, 2026
Implied change
▼ 37%
Uncertainty
High

How we got here: a discounted-cash-flow model of Eagle Materials Inc's free cash flow after stock-based pay with after-tax interest added back ($327M, FY2027 Q1 TTM), growing 0.9% and 2.3% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$81–~$180 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Eagle Materials Inc's free cash flow after stock-based pay ( $327M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Eagle Materials Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.04 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$130 ~$81–$180 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$240 ~$210–$350 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$380 ~$270–$540 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$230 ~$200–$270 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$220 ~$130–$380 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Eagle Materials Inc with Construction Materials in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −46%
  • Revenue growth 5 points higher ▲ +60%
  • Free-cash-flow margin 1 point lower ▼ −20%
  • Last year's free-cash-flow margin change, if it persists ▼ −56%
  • Discount rate 1 point higher ▼ −26%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $103$158$231$326$451$613
8.5% $67$107$159$228$317$431
10% $45$76$117$169$237$324

Valuation multiples over time Market data may be delayed

At fiscal year end 2017201820192020202120222023202420252026Now
Share price$92.74$98.77$81.18$56.51$130.25$125.25$144.33$268.67$220.31$188.97$195.52
Market value$4.5bn$4.8bn$3.8bn$2.4bn$5.4bn$5.1bn$5.3bn$9.4bn$7.4bn$6.1bn$6.2bn
+ Net debt (− = net cash)$686m$617m$688m$1.5bn$751m$1.1bn$1.1bn$1.1bn$1.2bn$1.5bn$1.5bn
Enterprise value$5.2bn$5.4bn$4.5bn$3.8bn$6.2bn$6.2bn$6.4bn$10.5bn$8.6bn$7.6bn$7.8bn
Multiples
Price / sales 3.7x3.5x2.9x1.7x3.4x2.8x2.5x4.2x3.3x2.6x2.7x
Price / earnings 22.6x18.7x55.3x33.7x16.0x13.7x11.6x19.7x16.0x14.4x15.4x
Price / free cash flow 16.3x23.4x21.0x8.9x9.2x11.6x12.4x21.3x21.0x30.8x36.4x
EV / EBITDA 11.6x10.9x8.8x7.7x10.8x9.1x7.9x12.1x———

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

82 /100

Strong moat

How hard Eagle Materials's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 19 / 20

    Net income has been a median 11.4% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 26.4%, moving by 3.4 percentage points (standard deviation) across 10 years.

  • Durability 16 / 20

    Operating margin has been a median 28.2%; its worst year was 14.0%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 10 of 10 years, at a median 16.6% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 24.5% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $632m and EPS of $3.85 (range $3.58 to $4.02) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.04 −9% $2.3bn +0%
Next $13.11 +9% $2.4bn +3%

Next year's EPS estimate has moved −8.0% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −7.0% on 90 days ago. In the last 30 days, 1 analyst raised Eagle Materials Inc's forecast and 3 cut it.

Consensus EPS forecast Eagle Materials Inc, last 90 days
$12.00 $13.00 $14.00 $15.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $12.94 Current fiscal year, 60 days ago: $12.64 Current fiscal year, 30 days ago: $12.65 Current fiscal year, 7 days ago: $12.13 Current fiscal year, Now: $12.04 $12.04 Next fiscal year, 90 days ago: $14.25 Next fiscal year, 60 days ago: $14.14 Next fiscal year, 30 days ago: $13.98 Next fiscal year, 7 days ago: $13.36 Next fiscal year, Now: $13.11 $13.11

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $12.94$14.25
60 days ago $12.64$14.14
30 days ago $12.65$13.98
7 days ago $12.13$13.36
Now $12.04$13.11

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $3.38 $3.29 −2.8%
Mar 2026 $1.54 $1.91 +23.7%
Dec 2025 $3.36 $3.22 −4.1%
Sept 2025 $4.37 $4.23 −3.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026

No numeric guidance in Eagle Materials Inc's latest earnings release (filed July 29, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Eagle Materials Inc's revenue by +0.9% next year and +2.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+0.4%, weight 67%) and the company's own record (+2.0%, weight 33%) . How the weights are set.

Analyst recommendations

11 analysts, Oct 2026
Buy00%
Hold11100%
Sell00%

Monthly trend

  1. Oct 20261111
  2. Sep 20261111
  3. Aug 202611011
  4. Jul 20261910

Counts of recommendations published by analysts covering Eagle Materials Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.3%
of tradable shares
Days to cover
4.06
at average volume
Short interest, 1 month
+5%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.2%
of shares
Employees
2,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −7.5%

$211.27 on October 31, 2025 to $195.52

ThenNowEffect
Revenue (last 12 months) $2.3bn $2.3bn +1.7%
Net margin 19.8% 17.3% −12.6%
P/E multiple 15.6x 15.4x −0.8%
Share count 33m 32m +5.0%

Biggest factor: net margin.

Last 3 years +20.1%

$162.83 on November 3, 2023 to $195.52

ThenNowEffect
Revenue (last 12 months) $2.2bn $2.3bn +6.2%
Net margin 21.8% 17.3% −20.6%
P/E multiple 12.4x 15.4x +24.3%
Share count 36m 32m +14.5%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
EXP+65%−20%+54%+22%−16%−5%
Industry peers (median)+41%−22%+64%+18%+1%−11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EXP75%33%67%50%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EXP−17%−38%−24%−22%−26%−32%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 64% from January 26, 2018 to March 23, 2020. Getting back needed a 176% gain, reached on February 12, 2021, 326 days after the low.

Price behaviour

52-week range
$163.34 – $239.32
From 52-week high
−18.3%
vs 50-day average
+8.7%
vs 200-day average
−3.2%
Volatility (1 year)
34%
Beta vs S&P 500
0.96

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±5.3%
After a week
6 up, 6 down
typical move ±6.5%
After a month
7 up, 5 down
typical move ±11.0%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 −7.5% +0.1% −1.7% −11.0%
May 19, 2026 +1.8% +0.4% +9.2% +14.3%
January 29, 2026 −6.5% −0.5% +2.4% +0.6%
October 30, 2025 −8.9% −0.8% −11.8% −5.2%
July 29, 2025 +3.2% −0.4% +2.1% +6.6%
May 20, 2025 −11.2% −2.0% −16.0% −18.6%
January 29, 2025 +0.4% +0.1% −1.2% −12.4%
October 29, 2024 −0.2% −0.1% +2.3% +5.8%
July 30, 2024 +9.5% +1.1% −1.2% +1.3%
May 21, 2024 −7.1% 0.0% −11.0% −15.7%
January 25, 2024 +4.1% +0.4% +12.8% +21.0%
October 26, 2023 −2.9% −1.6% +6.1% +19.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Eagle Materials Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Eagle Materials Inc in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Eagle Materials Inc
$2.2B $2.3B $2.3B $2.4B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $2.2B Revenue (TTM), FY24 Q3: $2.3B Revenue (TTM), FY24 Q4: $2.3B Revenue (TTM), FY25 Q1: $2.3B Revenue (TTM), FY25 Q2: $2.3B Revenue (TTM), FY25 Q3: $2.3B Revenue (TTM), FY25 Q4: $2.3B Revenue (TTM), FY26 Q1: $2.3B Revenue (TTM), FY26 Q2: $2.3B Revenue (TTM), FY26 Q3: $2.3B Revenue (TTM), FY26 Q4: $2.3B Revenue (TTM), FY27 Q1: $2.3B $2.3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $2.2B
FY24 Q3 $2.3B
FY24 Q4 $2.3B
FY25 Q1 $2.3B
FY25 Q2 $2.3B
FY25 Q3 $2.3B
FY25 Q4 $2.3B
FY26 Q1 $2.3B
FY26 Q2 $2.3B
FY26 Q3 $2.3B
FY26 Q4 $2.3B
FY27 Q1 $2.3B
Revenue growth, TTM YoY Eagle Materials Inc
0% 2% 4% 6% 8% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 8.0% Revenue growth, TTM YoY, FY24 Q3: 7.7% Revenue growth, TTM YoY, FY24 Q4: 5.2% Revenue growth, TTM YoY, FY25 Q1: 3.6% Revenue growth, TTM YoY, FY25 Q2: 2.8% Revenue growth, TTM YoY, FY25 Q3: 0.6% Revenue growth, TTM YoY, FY25 Q4: 0.1% Revenue growth, TTM YoY, FY26 Q1: 0.9% Revenue growth, TTM YoY, FY26 Q2: 1.5% Revenue growth, TTM YoY, FY26 Q3: 1.4% Revenue growth, TTM YoY, FY26 Q4: 2.1% Revenue growth, TTM YoY, FY27 Q1: 1.7% 1.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 8.0%
FY24 Q3 7.7%
FY24 Q4 5.2%
FY25 Q1 3.6%
FY25 Q2 2.8%
FY25 Q3 0.6%
FY25 Q4 0.1%
FY26 Q1 0.9%
FY26 Q2 1.5%
FY26 Q3 1.4%
FY26 Q4 2.1%
FY27 Q1 1.7%
Operating margin (TTM) Eagle Materials Inc
29% 30% 31% 32% 33% FY22 Q4 FY23 Q3 FY24 Q2 FY25 Q3 Operating margin (TTM), FY22 Q4: 29.7% Operating margin (TTM), FY23 Q1: 29.5% Operating margin (TTM), FY23 Q2: 29.9% Operating margin (TTM), FY23 Q3: 30.3% Operating margin (TTM), FY23 Q4: 31.4% Operating margin (TTM), FY24 Q1: 31.9% Operating margin (TTM), FY24 Q2: 32.5% Operating margin (TTM), FY24 Q3: 32.7% Operating margin (TTM), FY24 Q4: 31.7% Operating margin (TTM), FY25 Q1: 32.3% Operating margin (TTM), FY25 Q2: 32.0% Operating margin (TTM), FY25 Q3: 31.7% 31.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY22 Q4 29.7%
FY23 Q1 29.5%
FY23 Q2 29.9%
FY23 Q3 30.3%
FY23 Q4 31.4%
FY24 Q1 31.9%
FY24 Q2 32.5%
FY24 Q3 32.7%
FY24 Q4 31.7%
FY25 Q1 32.3%
FY25 Q2 32.0%
FY25 Q3 31.7%
FCF margin (TTM) Eagle Materials Inc
5% 10% 15% 20% 25% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 19.1% FCF margin (TTM), FY24 Q3: 18.9% FCF margin (TTM), FY24 Q4: 19.6% FCF margin (TTM), FY25 Q1: 19.4% FCF margin (TTM), FY25 Q2: 20.4% FCF margin (TTM), FY25 Q3: 16.3% FCF margin (TTM), FY25 Q4: 15.6% FCF margin (TTM), FY26 Q1: 13.7% FCF margin (TTM), FY26 Q2: 10.6% FCF margin (TTM), FY26 Q3: 10.1% FCF margin (TTM), FY26 Q4: 8.6% FCF margin (TTM), FY27 Q1: 7.3% 7.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 19.1%
FY24 Q3 18.9%
FY24 Q4 19.6%
FY25 Q1 19.4%
FY25 Q2 20.4%
FY25 Q3 16.3%
FY25 Q4 15.6%
FY26 Q1 13.7%
FY26 Q2 10.6%
FY26 Q3 10.1%
FY26 Q4 8.6%
FY27 Q1 7.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Mar 2009 2010 Mar 2010 2011 Mar 2011 2012 Mar 2012 2017 Mar 2017 2018 Mar 2018 2019 Mar 2019 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Jun 2026
Income
Revenue 599 468 462 495 1,211 1,387 1,310 1,404 1,623 1,862 2,148 2,259 2,261 2,309 2,325
Gross profit 72 52 36 40 312 339 348 343 408 520 639 685 673 653 628
EBITDA 159 130 110 119 446 496 509 499 575 681 813 867 — — —
Operating income 108 79 61 69 354 382 387 385 446 552 675 717 — — —
Net income 42 29 15 19 198 257 69 71 339 374 462 478 463 424 403
Diluted EPS $0.95 $0.66 $0.34 $0.42 $4.10 $5.28 $1.47 $1.68 $8.12 $9.14 $12.46 $13.61 $13.77 $13.16 $12.67
Growth (year on year)
Revenue — −21.8% −1.2% +7.1% +144.7% +14.5% −5.5% +7.2% +15.6% +14.7% +15.4% +5.2% +0.1% +2.1% +1.7%
EBITDA — −18.4% −15.5% +8.8% +273.5% +11.2% +2.6% −2.0% +15.3% +18.4% +19.4% +6.6% — — —
Operating income — −26.7% −23.4% +14.4% +411.0% +7.8% +1.2% −0.4% +15.7% +23.8% +22.2% +6.2% — — —
Net income — −30.7% −48.7% +26.1% +958.2% +29.5% −73.2% +3.0% +378.8% +10.3% +23.3% +3.5% −3.0% −8.5% −11.1%
Diluted EPS — −30.5% −48.5% +23.5% +876.2% +28.8% −72.2% +14.3% +383.3% +12.6% +36.3% +9.2% +1.2% −4.4% −6.7%
Margins
Gross margin 12.0% 11.1% 7.7% 8.2% 25.8% 24.4% 26.6% 24.4% 25.2% 27.9% 29.8% 30.3% 29.8% 28.3% 27.0%
EBITDA margin 26.6% 27.8% 23.8% 24.1% 36.8% 35.8% 38.9% 35.5% 35.4% 36.6% 37.9% 38.4% — — —
Operating margin 18.0% 16.9% 13.1% 14.0% 29.3% 27.6% 29.5% 27.4% 27.5% 29.7% 31.4% 31.7% — — —
Net margin 7.0% 6.2% 3.2% 3.8% 16.4% 18.5% 5.3% 5.0% 20.9% 20.1% 21.5% 21.1% 20.5% 18.4% 17.3%
Free-cash-flow margin 10.6% 10.9% 5.8% 7.0% 22.7% 14.8% 13.8% 19.0% 36.3% 23.8% 20.1% 19.6% 15.6% 8.6% 7.3%
Cash flow
Cash from operations 79 65 44 61 332 338 350 399 643 517 542 564 549 614 632
Capital spending 16 14 17 26 57 132 169 132 54 74 110 120 195 417 461
Free cash flow 63 51 27 35 275 206 181 267 589 443 432 444 353 197 171
Stock-based pay 9 3 4 6 12 14 15 20 15 14 17 20 19 21 21
Free cash flow after stock pay 54 48 23 29 263 192 166 247 574 429 414 424 335 176 149
Balance sheet
Cash 18 1 2 6 7 9 9 119 264 19 15 35 20 298 234
Total debt 0 303 287 267 693 627 697 1,575 1,015 1,106 1,100 1,103 1,246 1,781 1,778
Net debt (negative = net cash) −18 302 285 260 686 617 688 1,456 751 1,087 1,084 1,068 1,226 1,483 1,544
Diluted shares 44m 44m 44m 45m 48m 49m 47m 42m 42m 41m 37m 35m 34m 32m 32m
Returned to shareholders
Dividends 30 17 18 18 19 19 19 17 4 31 37 35 34 32 32
Buybacks — — — — 60 61 272 314 0 590 388 343 298 382 387
Total returned 30 17 18 18 79 81 291 331 4 621 425 379 332 414 419

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $3.9bn
Short-term assets $929mLonger-term assets $3.0bn
What it owes, and who funded it · $3.9bn
Short-term liabilities $288mLonger-term liabilities $2.1bnShareholders' equity $1.5bn
  • Short-term assets cover short-term liabilities $929m of assets due within a year against $288m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $929m short-term assets against $2.1bn of longer-dated liabilities.
  • More cash than debt $234m of cash against $1.8bn of debt.
  • Debt below 40% of shareholders' equity Debt is 118% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 69% to 118% over five years.
  • A year's operating cash flow covers at least 20% of debt $632m of operating cash flow against $1.8bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Eagle Materials Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$387M
Dividends (TTM)
$32.1M
Returned to shareholders
246%
of free cash flow
Buybacks, last 3 fiscal years
$1B
Diluted share count
−4.8%
year over year
Total shareholder yield
7.0%
dividends 0.5% + buybacks 6.4% of market value
Dividend payout ratio
8%
of net income paid out
Days sales outstanding
46 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in construction materials
Last 12 months unless stated EXP TTAM KNF MLM VMC SND Median
Revenue, last 12 months $2.3bn $1.7bn $3.3bn $6.7bn $8.0bn $387m $2.8bn
Revenue growth, last 12 months 1.7% 1.8% 12.1% 14.8% 1.6% 26.5% 5.0%
Revenue growth, 3-year average 2.0% — 8.3% 1.1% 1.4% 8.6% 5.2%
Revenue growth, latest quarter 2.6% — 12.6% 21.0% −4.7% 34.1% 4.1%
Gross margin 27.0% 26.1% 17.8% 28.2% 27.5% 13.5% 27.2%
Operating margin 31.7% 16.1% 8.3% 20.6% 20.3% 2.0% 18.2%
Operating margin, 3-year average 31.6% — 9.3% 30.3% 19.7% −0.1% 19.7%
Net margin 17.3% 11.1% 4.2% 36.7% 13.8% 2.7% 12.5%
Cash from operations / revenue 27.2% 17.8% 9.5% 22.7% 18.9% 12.1% 18.3%
Free-cash-flow margin 7.3% 8.1% 1.3% 12.1% 9.8% 8.9% 8.5%
Free-cash-flow margin, 3-year average 13.5% — 1.6% 12.6% 11.3% 3.5% 11.3%
Stock pay / revenue 0.9% — 0.3% 0.7% 0.6% 0.9% 0.7%
Change in share count −4.8% 4.6% 0.1% −1.1% −1.7% 1.6% −0.5%

Median of all 8 companies we cover in construction materials. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

8 construction materials companies
Measure Company Peer median Rank
Revenue growth Growth 1.7% 5.6% 7 of 8
Change in growth rate Growth -0.4pp -0.4pp 4 of 8
Gross margin Profitability 27.0% 27.5% 5 of 8
Net margin Profitability 17.3% 13.8% 3 of 8
Free-cash-flow margin Cash generation 7.3% 8.9% 6 of 8
Stock pay as % of revenue Cash generation 0.9% 0.7% 6 of 7
Long-term debt as % of assets Balance sheet 44.6% 23.9% 8 of 8
Change in share count Balance sheet -4.8% 0.1% 1 of 8

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to March 31, 2026
Segments
Line of business Revenue YoY
Cement $1.3B ▲ 8.2%
Gypsum Wallboard $764M ▼ 9.7%
Concrete and Aggregates $300M ▲ 19.0%
Recycled Paperboard $199M ▼ 5.9%

These categories overlap or exclude eliminations, so shares aren't shown.

From Eagle Materials Inc's 10-K filed May 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$7.4B
Institutions reporting
529
Shares held vs prior quarter
▲ 4.1%
Positions opened / closed
85 / 36

Top buyers and sellers, Q2 2026: 270 institutions bought and 203 sold ; the biggest buyer was AQR Capital Management LLC (+483K shares) and the biggest seller Baupost Group LLC (−362K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $816M 3.6M 11.1% ▼ 0.5%
Blackrock, Inc. $688M 3.1M 9.3% ▲ 2.0%
Vanguard Capital Management LLC $316M 1.4M 4.3% ▼ 0.5%
Vanguard Portfolio Management LLC $301M 1.3M 4.1% ▼ 0.8%
Alliancebernstein L.P. $234M 1.2M 3.2% ▲ 11.1%
State Street Corp $227M 1.0M 3.1% ▲ 4.0%
Jpmorgan Chase & Co $218M 956K 3.0% ▲ 19.0%
Neuberger Berman Group LLC $200M 889K 2.7% ▲ 19.1%
Black Creek Investment Management Inc. $186M 826K 2.5% ▲ 6.2%
Geode Capital Management, LLC $180M 799K 2.4% ▲ 3.9%
AQR Capital Management LLC $180M 798K 2.4% ▲ 153.7%
W1M Asset Management Ltd $155M 689K 2.1% ▲ 29.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Eagle Materials Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $208,080 1 trade by 1 insider, last 12 months Insider sales History → $1.7M 5 trades by 2 insiders · 0% under pre-set plans
Net ▼ $1.5M net selling
Insider Date Trade Shares Price Value
Thompson Tony Senior Vice President August 24, 2026 Sell 3,074 $203.96 $626,973
Carter Margot Lebenberg Director August 3, 2026 Sell 561 $212.35 $119,128
Carter Margot Lebenberg Director July 31, 2026 Sell 2,517 $203.57 $512,386
Carter Margot Lebenberg Director July 31, 2026 Sell 1,659 $204.56 $339,365
Carter Margot Lebenberg Director July 31, 2026 Sell 478 $204.00 $97,512
Rush David E Director November 5, 2025 Buy 1,000 $208.08 $208,080

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 29, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • May 19, 2026
  • January 29, 2026
  • October 30, 2025
  • July 29, 2025
  • May 20, 2025

Recent SEC filings

Data status

When each part of this page on Eagle Materials Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Eagle Materials Inc in brief

What does Eagle Materials Inc do?
Eagle Materials Inc is a US-listed company in the construction materials industry. Its financial year ends in March.
What is Eagle Materials Inc's stock ticker?
Eagle Materials Inc trades under the ticker EXP on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Eagle Materials Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Eagle Materials Inc reported revenue of $2.3B, 1.7% higher than a year earlier, according to its SEC filings.
What is Eagle Materials Inc's free cash flow?
Eagle Materials Inc's free-cash-flow margin is 7.3% of revenue over the trailing twelve months, ranking 6 of the 8 construction materials companies we cover.
What is Eagle Materials Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Eagle Materials Inc's free cash flow after stock-based pay gives ~$130 per share in the base case, and ~$81–$180 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Eagle Materials Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Eagle Materials Inc buying back stock, and does it pay a dividend?
Eagle Materials Inc spent $387M on share repurchases over the trailing twelve months, and its diluted share count fell 4.8% over the year.
What is Eagle Materials Inc's market cap?
On November 2, 2026, Eagle Materials Inc's market capitalisation was about $6.2B, with a price-to-earnings ratio of 15.4 and net debt of $1.5B. Market figures come from third-party market data and may be delayed.
Does Eagle Materials Inc pay a dividend?
Yes: Eagle Materials Inc paid $32.1M in dividends over the trailing twelve months, a dividend yield of 0.53% and a payout ratio of 8.0%.
How much debt does Eagle Materials Inc have?
Eagle Materials Inc's debt-to-equity ratio is 118.2%, from its latest balance sheet (68.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Eagle Materials Inc's competitors?
In our Construction Materials peer group, the companies closest to Eagle Materials Inc are Titan America SA, Knife River Corp, Martin Marietta Materials, Vulcan Materials Company and Smart Sand, Inc. The side-by-side comparison below sets their revenue, margins and growth against Eagle Materials Inc's.
Are insiders buying or selling Eagle Materials Inc stock?
Over the last 12 months, Eagle Materials Inc's directors and officers reported 1 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Eagle Materials Inc's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Eagle Materials Inc announces its own schedule.