EXP

MKT CAP:$7B

Eagle Materials Inc.

Market Cap

$7B

Basic Materials·Construction Materials·🇺🇸 United States·NYSE

Materials·Construction·🇺🇸·NYSE

Stock Price

$205.75-$5.70 (-2.70%)

Apr 21, 2026

Company Details

Eagle Materials Inc., through its subsidiaries, produces and supplies heavy construction materials and light building materials in the United States. It operates through Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperb...

CEO

Michael R. Haack

IPO Date

Apr 12, 1994

Website

www.eaglematerials.com

Key Metrics TTM

Revenue

$2.3B

+1.4% YoY

Net Income

$430M

EPS (Diluted)

$13.21

Free Cash Flow

$232M

Revenue / Share

$70.92

Gross Margin

28.3%

Operating Margin

24.6%

Net Margin

18.7%

FCF Margin

10.1%

P/S

2.9x

P/E

15.6x

Earnings Reports

Q3 2025

Jan 29, 2026

$556M-0.4%EPS $3.22

Q2 2025

Oct 30, 2025

$639M+2.5%EPS $4.23

Q1 2025

Jul 29, 2025

$635M+4.3%EPS $3.76

FY 2024

May 20, 2025

$2.3B+0.1%EPS $13.77

Q4 2024

May 20, 2025

$470M-1.4%EPS $2.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$413M	$99M	$85M
Q1 22	$561M	$151M	$139M
Q2 22	$605M	$194M	$181M
Q3 22	$511M	$159M	$146M
Q4 22	$470M	$135M	$120M
Q1 23	$602M	$176M	$164M
Q2 23	$622M	$209M	$192M
Q3 23	$559M	$181M	$166M
Q4 23	$477M	$120M	$102M
Q1 24	$609M	$187M	$171M
Q2 24	$624M	$204M	$186M
Q3 24	$558M	$178M	$157M
Q4 24	$470M	$105M	$85M
Q1 25	$635M	$186M	$165M
Q2 25	$639M	$200M	$178M
Q3 25	$556M	$161M	$137M

Valuation

Quarter	P/S	P/E
Q4 21	3.6x	17.9x
Q1 22	3.4x	17.5x
Q2 22	3.3x	15.9x
Q3 22	3.2x	15.4x
Q4 22	3.1x	14.5x
Q1 23	3.1x	14.0x
Q2 23	3.0x	13.7x
Q3 23	3.0x	13.4x
Q4 23	3.0x	14.0x
Q1 24	3.0x	13.7x
Q2 24	3.0x	13.9x
Q3 24	3.0x	14.1x
Q4 24	3.0x	14.5x
Q1 25	2.9x	14.8x
Q2 25	2.9x	15.0x
Q3 25	2.9x	15.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$88M	$69M
Q1 22	$125M	$110M
Q2 22	$176M	$147M
Q3 22	$180M	$162M
Q4 22	$62M	$12M
Q1 23	$140M	$104M
Q2 23	$172M	$143M
Q3 23	$188M	$165M
Q4 23	$63M	$31M
Q1 24	$133M	$100M
Q2 24	$233M	$167M
Q3 24	$120M	$73M
Q4 24	$63M	$14M
Q1 25	$137M	$61M
Q2 25	$205M	$96M
Q3 25	$171M	$61M

Capital Expenditures

Quarter	CapEx
Q4 21	$19M
Q1 22	$15M
Q2 22	$28M
Q3 22	$18M
Q4 22	$49M
Q1 23	$36M
Q2 23	$29M
Q3 23	$22M
Q4 23	$32M
Q1 24	$33M
Q2 24	$66M
Q3 24	$47M
Q4 24	$48M
Q1 25	$76M
Q2 25	$109M
Q3 25	$110M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+20.3%	+15.9%
Q1 22	+18.0%	+17.7%
Q2 22	+18.7%	+16.3%
Q3 22	+10.5%	+8.3%
Q4 22	+13.8%	+6.9%
Q1 23	+7.1%	+3.5%
Q2 23	+2.8%	+1.3%
Q3 23	+9.3%	+7.4%
Q4 23	+1.4%	+6.8%
Q1 24	+1.2%	+0.1%
Q2 24	+0.2%	+1.8%
Q3 24	-0.1%	+2.2%
Q4 24	-1.4%	+2.9%
Q1 25	+4.3%	+7.4%
Q2 25	+2.5%	+5.2%
Q3 25	-0.4%	+4.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$4M	0.9%
Q1 22	$5M	0.9%
Q2 22	$4M	0.7%
Q3 22	$4M	0.8%
Q4 22	$4M	0.7%
Q1 23	$6M	1.1%
Q2 23	$5M	0.7%
Q3 23	$4M	0.8%
Q4 23	$5M	1.0%
Q1 24	$5M	0.7%
Q2 24	$5M	0.8%
Q3 24	$5M	0.9%
Q4 24	$5M	1.0%
Q1 25	$5M	0.8%
Q2 25	$5M	0.9%
Q3 25	$6M	1.0%

OpEx Breakdown

Quarter	G&A
Q4 21	$14M
Q1 22	$12M
Q2 22	$14M
Q3 22	$12M
Q4 22	$16M
Q1 23	$12M
Q2 23	$17M
Q3 23	$14M
Q4 23	$17M
Q1 24	$16M
Q2 24	$18M
Q3 24	$21M
Q4 24	$20M
Q1 25	$21M
Q2 25	$21M
Q3 25	$24M

Revenue Segments

Quarter	Cement	Concrete And Aggregates	Gypsum Wallboard	Paperboard
Q4 21	$41M	$37M	$189M	$142M
Q2 23	$361M	$70M	$209M	—
Q3 23	$309M	$61M	$201M	—
Q1 24	$339M	$65M	$218M	—
Q2 24	$353M	$70M	$215M	—
Q3 24	$295M	$61M	$209M	—
Q4 24	$214M	$56M	$204M	—
Q1 25	$348M	$78M	$222M	—
Q2 25	$385M	$86M	$183M	—
Q3 25	$321M	$73M	$176M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$19M	$0	$19M
Q1 22	$68M	$0	$68M
Q2 22	$84M	$0	$84M
Q3 22	$61M	$0	$61M
Q4 22	$15M	$0	$15M
Q1 23	$53M	$0	$53M
Q2 23	$47M	$0	$47M
Q3 23	$49M	$0	$49M
Q4 23	$35M	$0	$35M
Q1 24	$47M	$0	$47M
Q2 24	$94M	$0	$94M
Q3 24	$31M	$0	$31M
Q4 24	$20M	$0	$20M
Q1 25	$60M	$0	$60M
Q2 25	$35M	$0	$35M
Q3 25	$419M	$0	$419M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	39M	-3.1%	-7.2%
Q1 22	38M	-2.5%	-9.9%
Q2 22	37M	-2.2%	-10.2%
Q3 22	37M	-2.0%	-9.5%
Q4 22	36M	-1.6%	-8.2%
Q1 23	36M	-1.3%	-7.0%
Q2 23	35M	-0.5%	-5.4%
Q3 23	35M	-1.7%	-5.1%
Q4 23	34M	-1.0%	-4.5%
Q1 24	34M	-1.2%	-4.3%
Q2 24	34M	-0.8%	-4.6%
Q3 24	34M	-0.3%	-3.3%
Q4 24	34M	+0.1%	-2.2%
Q1 25	33M	-2.5%	-3.5%
Q2 25	33M	-0.5%	-3.2%
Q3 25	32M	-0.6%	-3.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$187.8K	2K
Q1 22	$255.2K	2K
Q2 22	$275.0K	2K
Q3 22	$232.5K	2K
Q4 22	$195.9K	2K
Q1 23	$250.6K	2K
Q2 23	$259.3K	2K
Q3 23	$232.8K	2K
Q4 23	$190.7K	3K
Q1 24	$243.5K	3K
Q2 24	$249.4K	3K
Q3 24	$223.2K	3K
Q4 24	$188.1K	3K
Q1 25	$253.9K	3K
Q2 25	$255.6K	3K
Q3 25	$222.4K	3K

Revenue / Employee