Vulcan Materials (VMC) FY2023 results: revenue $7.8 billion, up 6.4% on the year
Vulcan Materials Co. (VMC) reported revenue of $7.8 billion for fiscal 2023, the year ended 31 December 2023, up 6.4% on the year before. Net income was $933 million, up 62.1%, and diluted earnings per share $6.98. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$7.8 billion
+6.4% on the year
FY2016FY2023
Operating margin
18.3%
13.0% a year earlier
FY2016FY2023
Net income
$933 million
+62.1% on the year
FY2016FY2023
Diluted EPS
$6.98
+61.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,537
1,148
1,012
+33.8%
Capital expenditure
873
613
451
+42.4%
Free cash flow
664
536
561
+24.0%
Free cash flow margin
8.5%
7.3%
10.1%
Cash from investing
-164
-1,053
-1,874
Cash from financing
-586
-175
-94.3
Depreciation and amortisation
617
588
463
+5.0%
Share-based compensation
63.2
41.1
34.7
+53.8%
Buybacks
200
0.0
0.0
Dividends paid
228
213
196
+7.4%
Dividend per share
$1.72
$1.60
$1.48
+7.5%
Diluted shares, weighted
134m
134m
134m
+0.1%
Shares outstanding at period end
132m
133m
133m
-0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
7,483
6,929
6,545
+8.0%
Non-controlling interest
24.5
23.6
22.7
+3.8%
Short-term borrowings
0.0
n/a
0.0
Debt
3,878
3,976
3,880
-2.5%
Operating lease liabilities
507
548
642
-7.5%
Finance lease liabilities
16.6
34.8
60.5
-52.3%
Other liabilities
2,636
2,724
2,532
-3.2%
Total liabilities and equity
14,546
14,235
13,683
+2.2%
Fixed assets
6,218
6,051
5,547
+2.7%
Goodwill
3,532
3,690
3,697
-4.3%
Intangible assets
1,461
1,702
1,749
-14.2%
Cash and equivalents
931
161
235
+476.9%
Receivables
n/a
846
783
Inventory
616
579
521
+6.3%
Other assets
1,789
1,205
1,151
+48.4%
Total assets
14,546
14,235
13,683
+2.2%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.