VMI

MKT CAP:$10B

Valmont Industries, Inc.

Market Cap

$10B

Industrials·Conglomerates·🇺🇸 United States·NYSE

Industrials·Conglomerates·🇺🇸·NYSE

Stock Price

$466.75+$55.04 (+13.37%)

Apr 22, 2026

Company Details

Valmont Industries, Inc. produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. It operates through two segments: Infrastructure and Agriculture. The company manufactures and dist...

CEO

Avner Applbaum

IPO Date

Mar 26, 1990

Website

www.valmont.com

Key Metrics TTM

Revenue

$4.0B

+8.1% YoY

Net Income

$366M

EPS (Diluted)

$18.26

Free Cash Flow

$317M

Revenue / Share

$203.74

Gross Margin

30.4%

Operating Margin

13.5%

Net Margin

9.2%

FCF Margin

7.9%

P/S

2.4x

P/E

26.5x

Earnings Reports

Q1 2026

Apr 21, 2026

NEW

$1.0B+6.2%EPS $5.51

Q1 2025

Apr 30, 2025

$969M-0.9%EPS $4.32

FY 2024

Feb 25, 2025

$4.1B-2.4%EPS $17.19

Q3 2024

Oct 29, 2024

$1.0BEPS $4.11

Q1 2024

May 8, 2024

$978MEPS $4.32

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$674M	$186M	$67M
Q2 20	$689M	$184M	$43M
Q1 21	$775M	$205M	$77M
Q2 21	$895M	$230M	$83M
Q1 22	$981M	$249M	$95M
Q2 23	$1.0B	$329M	$134M
Q1 24	$978M	$306M	$132M
Q3 24	$1.0B	$302M	$126M
Q1 25	$969M	$291M	$128M
Q1 26	$1.0B	$317M	$156M

Valuation

Quarter	P/S	P/E
Q1 20	—	—
Q2 20	—	—
Q1 21	—	—
Q2 21	3.2x	53.2x
Q1 22	2.9x	48.1x
Q2 23	2.6x	36.1x
Q1 24	2.5x	32.2x
Q3 24	2.4x	30.1x
Q1 25	2.4x	28.0x
Q1 26	2.4x	26.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$62M	$39M
Q2 20	$88M	$64M
Q1 21	$33M	$6M
Q2 21	$37M	$16M
Q1 22	$3M	-$24M
Q2 23	$88M	$65M
Q1 24	$23M	$8M
Q3 24	$225M	$205M
Q1 25	$65M	$35M
Q1 26	$103M	$69M

Capital Expenditures

Quarter	CapEx
Q1 20	$24M
Q2 20	$25M
Q1 21	$28M
Q2 21	$21M
Q1 22	$27M
Q2 23	$23M
Q1 24	$15M
Q3 24	$21M
Q1 25	$30M
Q1 26	$35M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+45.5%	+45.9%
Q2 23	+51.9%	+41.4%
Q1 24	+26.2%	+21.3%
Q3 24	+14.0%	+10.2%
Q1 25	-1.2%	-5.1%
Q1 26	-1.6%	-4.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$3M	0.5%
Q2 20	$2M	0.3%
Q1 21	$5M	0.6%
Q2 21	$4M	0.5%
Q1 22	$9M	1.0%
Q2 23	$11M	1.1%
Q1 24	$7M	0.7%
Q3 24	$8M	0.7%
Q1 25	$7M	0.7%
Q1 26	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 20	$119M
Q2 20	$124M
Q1 21	$127M
Q2 21	$147M
Q1 22	$154M
Q2 23	$196M
Q1 24	$175M
Q3 24	$176M
Q1 25	$163M
Q1 26	$186M

Revenue Segments

Quarter	Product	Service	Coatings	Irrigation Equipment and Parts, excluding Technology	Lighting and Transportation	Renewable Energy	Technology Products and Services - Agriculture	Telecommunication	Transmission, Distribution and Substation	Lighting And Transportation	Telecommunications	Agriculture	Infrastructure
Q1 20	$599M	$75M	—	—	—	—	—	—	—	—	—	—	—
Q2 20	$618M	$71M	—	—	—	—	—	—	—	—	—	—	—
Q1 21	$695M	$80M	—	—	—	—	—	—	—	—	—	—	—
Q2 21	$806M	$89M	—	—	—	—	—	—	—	—	—	—	—
Q1 22	—	—	$79M	$275M	$213M	$43M	$29M	$61M	$282M	—	—	—	—
Q2 23	—	—	$89M	$251M	—	$51M	—	—	$314M	$246M	$68M	—	—
Q1 24	—	—	$84M	$231M	—	$35M	—	—	$325M	$222M	$54M	—	—
Q3 24	—	—	$86M	$242M	—	$35M	—	—	$342M	$229M	$64M	—	—
Q1 25	—	—	—	—	—	—	—	—	—	—	—	$267M	$706M

Revenue by Geography

Quarter	International	North America
Q1 22	$299M	$682M
Q2 23	$322M	$725M
Q1 24	$254M	$724M
Q3 24	$304M	$716M
Q1 25	$259M	$711M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$155M	$0	$155M
Q3 22	$166M	$0	$166M
Q4 22	$185M	$0	$185M
Q1 23	$173M	$0	$173M
Q2 23	$167M	$0	$167M
Q3 23	$173M	$0	$173M
Q4 23	$203M	$0	$203M
Q1 24	$169M	$0	$169M
Q2 24	$163M	$0	$163M
Q3 24	$200M	$0	$200M
Q4 24	$164M	$0	$164M
Q1 25	$184M	$0	$184M
Q2 25	$209M	$0	$209M
Q3 25	$226M	$0	$226M
Q4 25	$187M	$0	$187M
Q1 26	$160M	$0	$160M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	22M	—	—
Q2 20	21M	-0.7%	—
Q1 21	21M	+0.2%	—
Q2 21	21M	+0.2%	—
Q1 22	21M	+0.1%	-0.3%
Q2 23	21M	-1.2%	-0.8%
Q1 24	20M	-4.3%	-5.2%
Q3 24	20M	-0.4%	-5.8%
Q1 25	20M	-0.2%	-6.0%
Q1 26	20M	-2.9%	-7.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 20	$68.4K	10K
Q2 20	$69.8K	10K
Q1 21	$71.5K	11K
Q2 21	$82.5K	11K
Q1 22	$88.8K	11K
Q2 23	$92.1K	11K
Q1 24	$87.9K	11K
Q3 24	$91.7K	11K
Q1 25	$88.2K	11K
Q1 26	$95.4K	11K

Revenue / Employee