United States Lime & Minerals Inc key statistics and ratios

In fiscal 2025, United States Lime & Minerals Inc had return on equity of 23.8%, an operating margin of 42.4%, debt equal to 0.0% of equity and a current ratio of 19.27. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

United States Lime & Minerals Inc: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Gross margin	24.5%	27.2%	29.0%	24.1%	23.0%	24.6%	21.9%	23.8%	23.7%	21.1%	26.3%	29.6%	31.3%	29.8%	36.6%	45.3%	48.9%	47.6%
Operating margin	17.9%	20.9%	22.8%	17.5%	16.2%	18.2%	14.6%	16.9%	16.7%	13.8%	18.5%	21.1%	24.5%	23.2%	30.4%	39.3%	42.4%	41.2%
Net margin	11.7%	13.6%	15.6%	11.9%	11.1%	12.9%	9.8%	12.7%	18.7%	13.6%	16.5%	17.6%	19.6%	19.2%	26.5%	34.3%	36.0%	35.1%
Free-cash-flow margin	21.2%	18.7%	20.4%	16.9%	18.4%	13.5%	16.1%	14.5%	8.9%	−10.4%	12.6%	25.8%	13.6%	15.9%	20.6%	31.0%	27.4%	25.9%
Return on equity	12.4%	15.1%	16.4%	12.5%	11.5%	13.3%	8.0%	10.3%	14.1%	9.2%	11.8%	12.3%	14.2%	15.2%	20.9%	24.4%	23.8%	19.6%
Return on assets	—	9.6%	11.3%	8.7%	8.2%	10.0%	6.5%	8.7%	12.4%	8.3%	10.6%	10.7%	12.4%	13.3%	18.4%	22.1%	21.9%	18.1%
Asset turnover	—	0.70	0.73	0.73	0.74	0.77	0.66	0.69	0.66	0.61	0.64	0.61	0.64	0.69	0.70	0.65	0.61	0.52
Current ratio	—	3.94	5.09	4.49	5.50	3.66	10.52	11.53	12.61	12.73	9.80	10.70	13.45	12.23	14.58	20.92	19.27	22.29
Debt to equity	0.0%	28.6%	23.0%	22.2%	15.8%	10.8%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	7.3x	10.2x	13.0x	11.2x	11.7x	17.9x	18.4x	95.4x	100.5x	82.3x	119.9x	136.6x	185.7x	—	—	—	—	—
Effective tax rate	24.7%	28.0%	26.4%	25.7%	25.4%	25.3%	26.3%	24.8%	−8.8%	8.7%	15.7%	17.2%	20.4%	19.7%	20.2%	20.2%	21.5%	21.9%
SG&A as % of revenue	6.6%	6.3%	6.2%	6.6%	6.8%	6.3%	7.4%	6.9%	7.0%	7.3%	7.3%	7.6%	6.8%	6.6%	6.2%	6.0%	6.6%	6.4%
Capital spending as % of revenue	5.7%	7.0%	6.6%	6.0%	6.7%	7.8%	8.8%	12.7%	14.7%	37.2%	17.1%	10.7%	15.8%	11.4%	12.2%	8.6%	16.8%	18.4%
Free cash flow ÷ net income	182.3%	137.8%	131.1%	142.5%	166.3%	104.8%	163.2%	113.7%	47.7%	−76.3%	76.4%	146.8%	69.6%	82.7%	77.8%	90.6%	76.2%	73.9%
Dividends ÷ net income	—	—	—	—	—	14.4%	21.7%	15.7%	11.1%	15.4%	126.9%	12.8%	9.8%	10.0%	6.1%	5.3%	5.1%	5.1%
Dividends and buybacks ÷ free cash flow	0.4%	0.7%	28.6%	174.6%	0.9%	15.1%	15.2%	28.3%	25.7%	—	168.3%	10.0%	16.9%	14.1%	10.0%	9.4%	9.3%	9.6%

US$ thousands unless shown otherwise. Fiscal quarters.

United States Lime & Minerals Inc: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Gross margin	44.3%	50.6%	45.8%	51.2%	48.0%	47.5%	47.1%	47.8%
Operating margin	38.8%	43.7%	39.0%	45.3%	41.0%	40.7%	41.0%	42.1%
Net margin	33.7%	37.4%	33.7%	38.0%	34.7%	34.8%	34.8%	35.8%
Free-cash-flow margin	34.4%	26.9%	22.7%	30.7%	29.2%	15.6%	21.3%	36.0%
Current ratio	20.92	15.29	21.75	19.02	19.27	20.73	27.54	22.29
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
SG&A as % of revenue	5.4%	6.9%	6.8%	5.8%	7.0%	6.8%	6.1%	5.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

7 of 7 checks passed · September 30, 2026

What it owns · $798m

Short-term assets $543mLonger-term assets $255m

What it owes, and who funded it · $798m

Short-term liabilities $24mLonger-term liabilities $40mShareholders' equity $734m

Short-term assets cover short-term liabilities $543m of assets due within a year against $24m of liabilities due within a year.
Short-term assets cover long-term liabilities $543m short-term assets against $40m of longer-dated liabilities.
More cash than debt $439m of cash against $0 of debt.
Debt below 40% of shareholders' equity Debt is 0% of equity.
Debt burden no higher than five years ago Debt to equity moved from 0% to 0% over five years.
A year's operating cash flow covers at least 20% of debt No debt to cover.
Operating profit covers interest at least five times over No material interest expense reported.

From United States Lime & Minerals 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.

Moat

72 /100

Strong moat

How hard United States Lime & Minerals'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 17 / 20

Cash operating profit has been a median 12.8% of total assets over 10 years.
Pricing power 4 / 20

Gross margin has been a median 31.0%, moving by 9.3 percentage points (standard deviation) across 10 years.
Durability 16 / 20

Operating margin has been a median 23.9%; its worst year was 14.6%.
Cash conversion 20 / 20

Free cash flow was positive in 10 of 10 years, at a median 19.3% of revenue.
Discipline 16 / 20

The diluted share count rose 2.5% over five years; stock-based pay has been a median 1.1% 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.

Compare with peers

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Figures from United States Lime & Minerals Inc's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to United States Lime & Minerals Inc.