VMC Vulcan Materials Company (Holding Company) Common Stock
About Vulcan Materials Company (Holding Company) Common Stock Company overview from Wikipedia
Vulcan Materials Company is an American company based in Birmingham, Alabama. It is principally engaged in the production, distribution and sale of construction materials. Vulcan is the largest producer of construction materials, primarily gravel, crushed stone, and sand, and employs approximately 12,000 people at over 400 facilities. Vulcan serves 22 states, the District of Columbia, Mexico, Canada, Bahamas and the U.S. Virgin Islands. Vulcan's Crescent Market project led to construction of a large quarry and deep water seaport on the Yucatán Peninsula of Mexico, just south of Cancún. This quarry supplies Tampa, New Orleans, Houston, and Brownsville, Texas, as well as other Gulf coast seaports, with crushed limestone via large 62,000-ton self-discharging ships.
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Vulcan Materials Company (NYSE: VMC) is an American company based in Birmingham, Alabama. It is principally engaged in the production, distribution and sale of construction materials. Vulcan is the largest producer of construction materials, primarily gravel, crushed stone, and sand, and employs approximately 12,000 people at over 400 facilities. Vulcan serves 22 states, the District of Columbia, Mexico, Canada, Bahamas and the U.S. Virgin Islands. Vulcan's Crescent Market project led to construction of a large quarry and deep water seaport on the Yucatán Peninsula of Mexico, just south of Cancún. This quarry supplies Tampa, New Orleans, Houston, and Brownsville, Texas, as well as other Gulf coast seaports, with crushed limestone via large 62,000-ton self-discharging ships.
## History
Vulcan Materials Company was founded in 1909 as the Birmingham Slag Company by Solon Jacobs and Henry Badham in Birmingham, Alabama. They recognized the potential to repurpose blast furnace slag from the local steel industry into materials for road construction and railroad ballast. The company was later acquired by the Ireland family in 1916, who expanded it.
In the late 1980s Vulcan acquired Reed Crushed Stone, near Kentucky.
On November 16, 1998, Vulcan announced it was purchasing CalMat Company, a producer of asphalt and ready-mixed concrete based in Los Angeles, for $760 million in cash.
On June 7, 2005, Vulcan completed the sale of its chemicals business, known as Vulcan Chemicals, to Occidental Chemical Corporation. The sale of assets included Vulcan's chloralkali plants in Wichita, Kansas; Geismar, Louisiana; and Port Edwards, Wisconsin, as well as Vulcan Chemicals' joint venture located in Geismar, Louisiana. In 2005, Vulcan acquired 11 aggregates operations and five asphalt plants in Arizona, Georgia, Indiana and Tennessee.
On February 19, 2007, Vulcan announced that it would buy stone and cement producer Florida Rock Industries for $4.7 billion. Vulcan completed the acquisition of Florida Rock on November 16, 2007.
In March 2007, Vulcan announced that it had been named to Fortune Magazine's list of Most Admired Companies for the sixth time. The company was ranked first in its industry sector, "Building Materials, Glass." Overall, Vulcan ranked among the top 10 companies in the Fortune 1000 for both long-term investment and social responsibility.
In January 2014, Vulcan Materials announced they would be selling their Florida Rock Industry (cement and ready-mixed concrete) plants and equipment to Cementos Argos, of Colombia. In March 2014, Vulcan was able to fully divest these properties to Cementos Argos.
In January 2018, Vulcan Materials was found to be partially responsible for the Bayou Corne sinkhole, along with Occidental Petroleum and Texas Brine Company.
In June 2021, Vulcan Materials announced they would be acquiring US Concrete (USCR) for $74 per share, a 30% premium on the date of the announcement. U.S. Concrete was formed in 1999, with its headquarters in Euless, TX. The deal is valued at $1.3 billion. The acquisition will allow for integrated expansion of Vulcan and make the subsidiary debt-free with adequate working capital. The deal has been approved by both boards and will close in the second half of 2021.
In early 2023, after being accused by president Andrés Manuel López Obrador of exporting materials from Mexico without a permit, the Mexican military seized a marine terminal belonging to Vulcan, leading to a diplomatic spat between the U.S. and Mexico.
In July 2026, Mexico announced that it would compensate Vulcan with less than 1% of the US$1.7 billion sought in international arbitration over the closure of its Mexican mining operations. Vulcan had initiated arbitration under the North American Free Trade Agreement in 2018 through its subsidiary, Calizas Industriales del Carmen.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
VMC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
VMC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| Aug. 13, 2026 | $0.5200 |
| May 22, 2026 | $0.5200 |
| March 9, 2026 | $0.5200 |
| Nov. 10, 2025 | $0.4900 |
| Aug. 14, 2025 | $0.4900 |
| May 23, 2025 | $0.4900 |
| March 10, 2025 | $0.4900 |
| Nov. 4, 2024 | $0.4600 |
| Aug. 15, 2024 | $0.4600 |
| May 23, 2024 | $0.4600 |
| March 1, 2024 | $0.4600 |
| Nov. 10, 2023 | $0.4300 |
| Aug. 16, 2023 | $0.4300 |
| May 25, 2023 | $0.4300 |
| March 3, 2023 | $0.4300 |
| Nov. 14, 2022 | $0.4000 |
| Aug. 16, 2022 | $0.4000 |
| May 26, 2022 | $0.4000 |
| Feb. 28, 2022 | $0.4000 |
| Nov. 15, 2021 | $0.3700 |
VMC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 9 31.0%
- Buy 9 31.0%
- Hold 10 34.5%
- Sell 1 3.4%
- Strong Sell 0 0.0%
12-Month Price Target
22 analysts · 2026-08-15Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $2.59 | $2.57 | 0.02% |
| March 31, 2026 | $1.35 | $1.13 | 0.22% |
| Dec. 31, 2025 | $1.70 | $2.14 | -0.44% |
| Sept. 30, 2025 | $2.84 | $2.75 | 0.09% |
| June 30, 2025 | $2.45 | $2.56 | -0.11% |
| March 31, 2025 | $1.00 | $0.79 | 0.21% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VMC | $37.25B | 35.2 | 7.1% | 13.6% | 12.9% | 27.4% |
| MLM | $37.55B | 33.2 | 8.6% | 18.5% | 11.7% | 30.7% |
| AMRZ | $29.91B | 25.3 | 0.95% | 10.0% | 10.2% | 25.7% |
| EXP | $5.92B | 14.4 | 2.1% | 18.4% | 28.1% | 28.3% |
| KNF | $3.99B | 25.5 | 8.5% | 5.0% | 10.1% | 18.4% |
| USLM | — | 25.6 | 17.3% | 36.0% | 22.5% | 48.9% |
| KNF | $3.99B | 25.5 | 8.5% | 5.0% | 10.1% | 18.4% |
| RMIX | — | — | — | — | — | — |
| SMID | $193M | 15.4 | 19.0% | 13.4% | 24.1% | 27.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.94B | $7.42B | $7.78B | $7.32B | $5.55B | $4.86B | $4.93B | $4.38B | |
| Cost of Revenue | $5.77B | $5.42B | $5.83B | $5.76B | $4.18B | $3.58B | $3.67B | $3.28B | |
| Gross Profit | $2.17B | $2.00B | $1.95B | $1.56B | $1.37B | $1.28B | $1.26B | $1.10B | |
| SG&A Expense | $564M | $531M | $543M | $515M | $418M | $360M | $370M | $333M | |
| Operating Income | $1.62B | $1.36B | $1.43B | $951M | $1.01B | $896M | $878M | $748M | |
| Interest Expense | · | · | $196M | $169M | $149M | $136M | $130M | $138M | |
| Other Non-op | $-3M | $-22M | $-3M | $5M | $11M | $-18M | $9M | $13M | |
| Pretax Income | $1.39B | $1.17B | $1.25B | $788M | $874M | $744M | $758M | $623M | |
| Income Tax | $308M | $251M | $299M | $193M | $200M | $156M | $135M | $105M | |
| Net Income | $1.08B | $912M | $933M | $576M | $671M | $584M | $618M | $516M | |
| EPS (Basic) | $8.16 | $6.89 | $7.02 | $4.33 | $5.05 | $4.41 | $4.67 | $3.90 | |
| EPS (Diluted) | $8.11 | $6.85 | $6.98 | $4.31 | $5.02 | $4.39 | $4.63 | $3.85 | |
| Shares (Basic) | 132,000,000 | 132,300,000 | 133,000,000 | 133,000,000 | 132,800,000 | 132,600,000 | 132,300,000 | 132,393,000 | |
| Shares (Diluted) | 132,700,000 | 133,100,000 | 133,700,000 | 133,600,000 | 133,500,000 | 133,200,000 | 133,400,000 | 133,926,000 | |
| EBITDA | $2.37B | $2.00B | $2.04B | $1.54B | $1.47B | $1.29B | $1.25B | $1.09B |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $183M | $560M | $931M | $161M | $235M | $1.20B | $272M | $40M | |
| Receivables | · | · | · | $846M | $783M | $513M | $532M | $512M | |
| Inventory | $680M | $682M | $616M | $579M | $521M | $449M | $458M | $429M | |
| Other Current Assets | $102M | $91M | $70M | $116M | $95M | $74M | $76M | $65M | |
| Current Assets | $2.57B | $2.27B | $2.52B | $1.90B | $1.70B | $2.28B | $1.38B | $1.08B | |
| PP&E (Net) | $8.15B | $8.46B | $6.22B | $6.05B | $5.55B | $4.43B | $4.32B | $4.24B | |
| PP&E (Gross) | · | $14.52B | $11.84B | $11.31B | $10.44B | $9.10B | $8.75B | $8.46B | |
| Accum. Depreciation | · | $6.06B | $5.62B | $5.26B | $4.90B | $4.68B | $4.43B | $4.22B | |
| Goodwill | $3.78B | $3.79B | $3.53B | $3.69B | $3.70B | $3.17B | $3.17B | $3.17B | |
| Intangibles | $1.49B | $1.88B | $1.46B | $1.70B | $1.75B | $1.12B | $1.09B | $1.10B | |
| Other Non-current Assets | $159M | $149M | $268M | $285M | $268M | $231M | $226M | $210M | |
| Total Assets | $16.70B | $17.10B | $14.55B | $14.23B | $13.68B | $11.69B | $10.65B | $9.83B | |
| Short-term Debt | $0 | $0 | $0 | $100M | $0 | $0 | $0 | $133M | |
| Current Liabilities | $956M | $1.24B | $798M | $957M | $769M | $1.05B | $536M | $603M | |
| Capital Leases | $523M | $521M | $507M | $548M | $642M | $400M | $388M | $0 | |
| Deferred Tax | $1.36B | $1.34B | $1.03B | $1.07B | $1.01B | $706M | $633M | $567M | |
| Other Non-current Liabilities | $822M | $318M | $274M | $276M | $234M | $140M | $95M | $96M | |
| Total Liabilities | $8.15B | $8.96B | $7.04B | $7.28B | $7.11B | $5.66B | $5.03B | $4.63B | |
| Long-term Debt | $4.36B | $5.31B | $3.88B | $3.88B | $3.88B | $3.29B | $2.78B | $2.78B | |
| Total Debt | $4.36B | $5.31B | $3.88B | $3.98B | $3.88B | $3.29B | $2.78B | $2.91B | |
| Common Stock | · | · | $132M | $133M | $133M | $132M | $132M | $132M | |
| Retained Earnings | $5.59B | $5.21B | $4.62B | $4.11B | $3.75B | $3.27B | $2.90B | $2.44B | |
| AOCI | $-126M | $-127M | $-144M | $-155M | $-153M | $-181M | $-198M | $-172M | |
| Stockholders' Equity | $8.53B | $8.12B | $7.48B | $6.93B | $6.54B | $6.03B | $5.62B | $5.20B | |
| Liabilities + Equity | $16.70B | $17.10B | $14.55B | $14.23B | $13.68B | $11.69B | $10.65B | $9.83B | |
| Shares Outstanding | 130,600,000 | 132,100,000 | 132,100,000 | 132,900,000 | 132,700,000 | 132,500,000 | 132,371,000 | 131,762,000 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $748M | $632M | $617M | $588M | $463M | $397M | $375M | $346M | |
| Stock-based Comp | $63M | $53M | $63M | $41M | $35M | $33M | $32M | $25M | |
| Deferred Tax | $26M | $-10M | $-44M | $60M | $67M | $62M | $76M | $65M | |
| Amort. of Intangibles | $89M | $84M | $88M | $98M | $68M | $47M | $40M | $35M | |
| Other Non-cash | $-101M | $-178M | $-32M | $-116M | $-223M | $-6M | $-116M | $-119M | |
| Operating Cash Flow | $1.81B | $1.41B | $1.54B | $1.15B | $1.01B | $1.07B | $984M | $833M | |
| CapEx | $678M | $604M | $873M | $613M | $451M | $362M | $384M | $469M | |
| Investing Cash Flow | $-529M | $-2.81B | $-164M | $-1.05B | $-1.87B | $-382M | $-416M | $-670M | |
| Debt Issued | $0 | $2.00B | $550M | $550M | $1.60B | $750M | $0 | $850M | |
| Net Debt Issued | $-400M | $1.45B | $-500.0K | $-8M | $148M | $500M | $-23.0K | $-42M | |
| Stock Repurchased | $438M | $69M | $200M | $0 | $0 | $26M | $3M | $134M | |
| Net Stock Activity | $-438M | $-69M | $-200M | $0 | $0 | $-26M | $-3M | $-134M | |
| Dividends Paid | $260M | $244M | $228M | $213M | $196M | $180M | $164M | $148M | |
| Financing Cash Flow | $-1.70B | $1.06B | $-586M | $-175M | $-94M | $235M | $-338M | $-265M | |
| Net Change in Cash | $-411M | $-348M | $788M | $-80M | $-956M | $924M | $230M | $-102M | |
| Taxes Paid | $291M | $280M | $292M | $144M | $128M | $96M | $57M | $-66M | |
| Free Cash Flow | $1.14B | $806M | $664M | $536M | $561M | $708M | $600M | $364M | |
| Levered FCF | · | · | $515M | $408M | $445M | $601M | $493M | $249M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.4% | 27.0% | 25.0% | 21.3% | 24.7% | 26.4% | 25.5% | 25.1% | |
| Operating Margin | 20.4% | 18.4% | 18.3% | 13.0% | 18.2% | 18.4% | 17.8% | 17.1% | |
| Net Margin | 13.6% | 12.3% | 12.0% | 7.9% | 12.1% | 12.0% | 12.5% | 11.8% | |
| Pretax Margin | 17.5% | 15.8% | 16.0% | 10.8% | 15.7% | 15.3% | 15.4% | 14.2% | |
| EBITDA Margin | 29.8% | 26.9% | 26.3% | 21.0% | 26.5% | 26.6% | 25.4% | 25.0% | |
| ROA | 6.4% | 5.8% | 6.4% | 4.0% | 4.9% | 5.0% | 5.8% | 5.2% | |
| ROE | 12.9% | 11.4% | 12.5% | 8.3% | 10.3% | 9.8% | 11.1% | 10.0% | |
| ROIC | 9.8% | 8.0% | 9.5% | 6.6% | 7.5% | 7.6% | 8.6% | 7.6% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.7 | 1.8 | 3.2 | 2.0 | 2.2 | 2.2 | 2.6 | 1.8 | |
| Quick Ratio | 0.2 | 0.5 | 1.2 | 1.1 | 1.3 | 1.6 | 1.5 | 0.9 | |
| Debt / Equity | 0.5 | 0.7 | 0.5 | 0.6 | 0.6 | 0.5 | 0.5 | 0.6 | |
| LT Debt / Equity | 0.5 | 0.6 | 0.5 | 0.6 | 0.6 | 0.5 | 0.5 | 0.5 | |
| Interest Coverage | · | · | 7.3 | 5.6 | 6.8 | 6.6 | 6.7 | 5.4 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.5 | 0.5 | 0.4 | 0.4 | 0.5 | 0.4 | |
| Inventory Turnover | 8.5 | 8.2 | 9.8 | 10.3 | 8.1 | 7.9 | 8.3 | 7.8 | |
| Receivables Turnover | · | · | · | 9.0 | 8.6 | 9.3 | 9.4 | 9.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 7.1% | -4.7% | 6.4% | 31.8% | 14.3% | · | · | · | |
| Revenue CAGR 3Y | 2.8% | 10.1% | 17.0% | · | · | · | · | · | |
| Revenue CAGR 5Y | 10.3% | · | · | · | · | · | · | · | |
| EPS YoY | 18.4% | -1.9% | 62.0% | -14.1% | 14.3% | · | · | · | |
| EPS CAGR 3Y | 23.5% | 10.9% | 16.7% | · | · | · | · | · | |
| EPS CAGR 5Y | 13.1% | · | · | · | · | · | · | · | |
| Net Income YoY | 18.1% | -2.3% | 62.1% | -14.2% | 14.8% | · | · | · | |
| Net Income CAGR 3Y | 23.2% | 10.8% | 16.9% | · | · | · | · | · | |
| Net Income CAGR 5Y | 13.0% | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 7.6% | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7.94B | $7.42B | $7.78B | $7.32B | $5.55B | $4.86B | $4.93B | $4.38B | |
| Net Income TTM | $1.08B | $912M | $933M | $576M | $671M | $584M | $618M | $516M | |
| Market Cap | $37.25B | $33.98B | $29.99B | $23.27B | $27.55B | $19.65B | $19.06B | $13.02B | |
| Enterprise Value | $41.43B | $38.73B | $32.93B | $27.09B | $31.19B | $21.74B | $21.57B | $15.89B | |
| P/E | 35.2 | 37.6 | 32.5 | 40.6 | 41.4 | 33.8 | 31.1 | 25.7 | |
| P/S | 4.7 | 4.6 | 3.9 | 3.2 | 5.0 | 4.0 | 3.9 | 3.0 | |
| P/B | 4.4 | 4.2 | 4.0 | 3.4 | 4.2 | 3.3 | 3.4 | 2.5 | |
| P / Tangible Book | 11.4 | 13.9 | 12.0 | 15.1 | 25.1 | 11.3 | · | · | |
| P / Cash Flow | 20.5 | 24.1 | 19.5 | 20.3 | 27.2 | 18.4 | 19.4 | 15.6 | |
| P / FCF | 32.8 | 42.2 | 45.1 | 43.5 | 49.1 | 27.8 | 31.8 | 35.8 | |
| EV / EBITDA | 17.5 | 19.4 | 16.1 | 17.6 | 21.2 | 16.8 | 17.2 | 14.5 | |
| EV / FCF | 36.5 | 48.0 | 49.6 | 50.6 | 55.6 | 30.7 | 36.0 | 43.7 | |
| EV / Revenue | 5.2 | 5.2 | 4.2 | 3.7 | 5.6 | 4.5 | 4.4 | 3.6 | |
| Dividend Yield | 0.70% | 0.72% | 0.76% | 0.91% | 0.71% | 0.92% | 0.86% | 1.1% | |
| Earnings Yield | 2.8% | 2.7% | 3.1% | 2.5% | 2.4% | 3.0% | 3.2% | 3.9% | |
| Payout Ratio | 24.1% | 26.8% | 24.5% | 36.9% | 29.3% | 30.8% | 26.6% | 28.7% | |
| Annual Payout | $260M | $244M | $228M | $213M | $196M | $180M | $164M | $148M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.16B | $1.76B | $1.91B | $2.29B | $2.10B | $1.63B | $1.85B | $2.00B | $2.01B | $1.55B | $1.83B | $2.19B | $2.11B | $1.65B | $1.73B | $2.09B | |
| Cost of Revenue | $1.53B | $1.33B | $1.43B | $1.59B | $1.48B | $1.27B | $1.32B | $1.44B | $1.42B | $1.24B | $1.36B | $1.59B | $1.53B | $1.35B | $1.38B | $1.60B | |
| Gross Profit | $626M | $423M | $487M | $697M | $625M | $365M | $537M | $565M | $592M | $305M | $472M | $591M | $583M | $302M | $350M | $493M | |
| SG&A Expense | $141M | $136M | $136M | $145M | $144M | $138M | $138M | $129M | $134M | $130M | $142M | $144M | $139M | $117M | $126M | $135M | |
| Operating Income | $456M | $265M | $379M | $543M | $471M | $226M | $401M | $337M | $454M | $173M | $370M | $419M | $451M | $187M | $191M | $305M | |
| Other Non-op | $4M | $1M | $-4M | $700.0K | $2M | $-3M | $-9M | $-4M | $-9M | $-300.0K | $2M | $-6M | $-100.0K | $1M | $7M | $1M | |
| Pretax Income | $404M | $213M | $323M | $489M | $414M | $164M | $339M | $295M | $405M | $134M | $335M | $366M | $404M | $140M | $151M | $261M | |
| Income Tax | $81M | $46M | $70M | $112M | $91M | $34M | $43M | $85M | $94M | $29M | $105M | $86M | $92M | $17M | $28M | $82M | |
| Net Income | $323M | $166M | $252M | $375M | $321M | $129M | $294M | $208M | $308M | $103M | $227M | $276M | $309M | $121M | $119M | $177M | |
| EPS (Basic) | $2.49 | $1.27 | $1.92 | $2.84 | $2.43 | $0.97 | $2.21 | $1.57 | $2.33 | $0.78 | $1.71 | $2.08 | $2.32 | $0.91 | $0.90 | $1.33 | |
| EPS (Diluted) | $2.48 | $1.26 | $1.90 | $2.82 | $2.42 | $0.97 | $2.21 | $1.56 | $2.31 | $0.77 | $1.70 | $2.07 | $2.31 | $0.90 | $0.89 | $1.33 | |
| Shares (Basic) | 129,800,000 | 130,700,000 | -264,700,000 | 132,100,000 | 132,200,000 | 132,400,000 | -264,700,000 | 132,200,000 | 132,400,000 | 132,400,000 | -266,400,000 | 133,000,000 | 133,200,000 | 133,200,000 | -266,000,000 | 133,000,000 | |
| Shares (Diluted) | 130,300,000 | 131,200,000 | -266,100,000 | 132,900,000 | 132,900,000 | 133,000,000 | -266,100,000 | 133,000,000 | 133,100,000 | 133,100,000 | -267,500,000 | 133,700,000 | 133,800,000 | 133,700,000 | -267,100,000 | 133,600,000 | |
| EBITDA | $633M | $436M | · | $735M | $656M | $413M | · | $498M | $610M | $324M | · | $580M | $606M | $336M | · | $456M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $194M | $140M | $183M | $191M | $347M | $181M | $560M | $433M | $111M | $292M | · | $340M | $166M | $140M | · | $122M | |
| Inventory | $689M | $696M | $680M | $687M | $726M | $721M | $682M | $648M | $650M | $647M | · | $571M | $595M | $586M | · | $542M | |
| Other Current Assets | $86M | $79M | $102M | $104M | $88M | $83M | $91M | $114M | $153M | $74M | · | $106M | $120M | $92M | · | $141M | |
| Current Assets | $2.16B | $2.58B | $2.57B | $2.27B | $2.24B | $1.93B | $2.27B | $2.21B | $1.98B | $1.91B | · | $2.70B | $2.04B | $1.79B | · | $2.33B | |
| PP&E (Net) | $8.17B | $8.10B | · | $8.35B | $8.34B | $8.38B | · | $6.41B | $6.42B | $6.21B | · | $6.11B | $6.11B | $6.04B | · | $5.99B | |
| PP&E (Gross) | · | · | · | $14.64B | $14.56B | $14.53B | · | $12.35B | $12.24B | $11.95B | · | $11.61B | $11.56B | $11.41B | · | $11.13B | |
| Accum. Depreciation | · | · | · | $6.29B | $6.22B | $6.15B | · | $5.94B | $5.83B | $5.74B | · | $5.50B | $5.46B | $5.37B | · | $5.15B | |
| Goodwill | $3.78B | $3.78B | $3.78B | $3.84B | $3.83B | $3.81B | $3.79B | $3.45B | $3.54B | $3.53B | $3.53B | $3.53B | $3.69B | $3.69B | $3.69B | $3.70B | |
| Intangibles | $1.44B | $1.48B | $1.49B | $1.80B | $1.83B | $1.85B | $1.88B | $1.45B | $1.46B | $1.45B | · | $1.47B | $1.65B | $1.68B | · | $1.71B | |
| Other Non-current Assets | $189M | $171M | $159M | $166M | $152M | $146M | $149M | $288M | $282M | $273M | · | $251M | $252M | $270M | · | $277M | |
| Total Assets | $16.44B | $16.67B | $16.70B | $16.98B | $16.97B | $16.71B | $17.10B | $14.35B | $14.22B | $13.91B | $14.55B | $14.62B | $14.33B | $14.08B | $14.23B | $14.62B | |
| Short-term Debt | $0 | $197M | $0 | $0 | $550M | $0 | $0 | $0 | $95M | $0 | · | $0 | $0 | $0 | · | $312M | |
| Current Liabilities | $1.23B | $997M | $956M | $1.02B | $1.34B | $797M | $1.24B | $774M | $797M | $696M | · | $864M | $793M | $757M | · | $1.36B | |
| Capital Leases | $521M | $526M | $523M | $506M | $536M | $556M | $521M | $504M | $508M | $508M | · | $516M | $538M | $546M | · | $550M | |
| Deferred Tax | $1.29B | $1.36B | $1.36B | $1.39B | $1.32B | $1.33B | $1.34B | $1.00B | $1.01B | $1.03B | · | $1.07B | $1.07B | $1.06B | · | $1.07B | |
| Other Non-current Liabilities | $819M | $820M | $302M | $814M | $850M | $825M | $318M | $712M | $697M | $688M | · | $685M | $684M | $669M | · | $716M | |
| Total Liabilities | $7.95B | $8.20B | $8.15B | $8.22B | $8.54B | $8.55B | $8.96B | $6.46B | $6.49B | $6.39B | · | $7.16B | $7.11B | $7.07B | · | $7.74B | |
| Long-term Debt | $4.36B | $4.36B | $4.36B | $4.36B | $4.36B | $4.91B | $5.31B | $3.33B | $3.33B | $3.33B | · | $3.87B | $3.87B | $3.88B | · | $3.87B | |
| Total Debt | $4.36B | $4.56B | · | $4.36B | $4.91B | $4.91B | · | $3.33B | $3.43B | $3.33B | · | $3.87B | $3.87B | $3.88B | · | $4.19B | |
| Common Stock | · | · | · | · | · | · | · | · | · | · | · | $133M | $133M | $133M | · | $133M | |
| Retained Earnings | $5.54B | $5.54B | $5.59B | $5.81B | $5.49B | $5.24B | $5.21B | $4.98B | $4.83B | $4.64B | · | $4.59B | $4.38B | $4.17B | · | $4.05B | |
| AOCI | $-123M | $-124M | $-126M | $-123M | $-124M | $-126M | $-127M | $-139M | $-141M | $-142M | $-144M | $-150M | $-151M | $-153M | $-155M | $-149M | |
| Stockholders' Equity | $8.46B | $8.45B | $8.53B | $8.73B | $8.41B | $8.13B | $8.12B | $7.87B | $7.71B | $7.49B | · | $7.44B | $7.20B | $6.99B | · | $6.86B | |
| Liabilities + Equity | $16.44B | $16.67B | $16.70B | $16.98B | $16.97B | $16.71B | $17.10B | $14.35B | $14.22B | $13.91B | · | $14.62B | $14.33B | $14.08B | · | $14.62B | |
| Shares Outstanding | 129,400,000 | 130,300,000 | 130,600,000 | 132,000,000 | 132,000,000 | 132,100,000 | 132,100,000 | 132,100,000 | 132,100,000 | 132,300,000 | 132,100,000 | 132,900,000 | 132,900,000 | 133,100,000 | 132,900,000 | 132,900,000 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $178M | $170M | $185M | $191M | $186M | $186M | $164M | $161M | $157M | $151M | $153M | $161M | $155M | $148M | $152M | $151M | |
| Stock-based Comp | $9M | $16M | $13M | $17M | $19M | $14M | $14M | $15M | $15M | $9M | $20M | $19M | $16M | $8M | $13M | $10M | |
| Other Non-cash | · | $-241M | · | · | · | $-163M | · | · | · | $-192M | · | · | · | $-111M | · | · | |
| Operating Cash Flow | $344M | $241M | $543M | $677M | $342M | $252M | $440M | $595M | $201M | $173M | $482M | $548M | $286M | $221M | $400M | $423M | |
| CapEx | $194M | $176M | $185M | $222M | $103M | $168M | $162M | $97M | $191M | $153M | $206M | $312M | $161M | $194M | $162M | $160M | |
| Investing Cash Flow | $320M | $-175M | $-78M | $-214M | $-110M | $-126M | $-2.17B | $-108M | $-370M | $-164M | $346M | $-306M | $-142M | $-62M | $-112M | $-472M | |
| Debt Issued | · | · | · | · | · | · | $2.00B | $0 | $0 | $0 | $0 | $0 | $0 | $550M | $0 | $550M | |
| Net Debt Issued | · | $-400.0K | · | · | · | $-400M | · | · | · | $-550M | · | · | · | $-400.0K | · | · | |
| Stock Repurchased | $250M | $150M | $400M | $0 | $0 | $38M | $0 | $0 | $50M | $19M | $150M | $0 | $50M | $0 | $0 | $0 | |
| Net Stock Activity | · | $-150M | · | · | · | $-38M | · | · | · | $-19M | · | · | · | · | · | · | |
| Dividends Paid | $68M | $68M | $64M | $65M | $65M | $66M | $61M | $61M | $61M | $62M | $57M | $57M | $57M | $57M | $53M | $53M | |
| Financing Cash Flow | $-518M | $-112M | $-470M | $-619M | $-73M | $-533M | $1.90B | $-164M | $-20M | $-659M | $-223M | $-65M | $-116M | $-181M | $-273M | $72M | |
| Net Change in Cash | $145M | $-46M | $-6M | $-156M | $158M | $-408M | $166M | $323M | $-188M | $-649M | $604M | $177M | $28M | $-22M | $15M | $23M | |
| Taxes Paid | $79M | $3M | $106M | $72M | $111M | $2M | $3M | $50M | $224M | $3M | $123M | $56M | $114M | $-700.0K | $10M | $22M | |
| Free Cash Flow | · | $65M | · | · | · | $84M | · | · | · | $21M | · | · | · | $28M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.0% | 24.1% | · | 30.4% | 29.7% | 22.4% | · | 28.2% | 29.4% | 19.7% | · | 27.0% | 27.6% | 18.3% | · | 23.6% | |
| Operating Margin | 21.1% | 15.1% | · | 23.7% | 22.4% | 13.9% | · | 16.8% | 22.5% | 11.2% | · | 19.2% | 21.3% | 11.3% | · | 14.6% | |
| Net Margin | 15.0% | 9.4% | · | 16.4% | 15.3% | 7.9% | · | 10.4% | 15.3% | 6.6% | · | 12.7% | 14.6% | 7.3% | · | 8.5% | |
| Pretax Margin | 18.8% | 12.1% | · | 21.3% | 19.7% | 10.0% | · | 14.7% | 20.1% | 8.6% | · | 16.7% | 19.1% | 8.5% | · | 12.5% | |
| EBITDA Margin | 29.4% | 24.8% | · | 32.1% | 31.2% | 25.2% | · | 24.8% | 30.3% | 20.9% | · | 26.5% | 28.7% | 20.3% | · | 21.9% | |
| ROA | 1.9% | 0.99% | · | 2.4% | 2.1% | 0.84% | · | 1.4% | 2.2% | 0.73% | · | 1.9% | 2.2% | 0.86% | · | 1.2% | |
| ROE | 3.8% | 2.0% | · | 4.5% | 4.0% | 1.7% | · | 2.7% | 4.1% | 1.4% | · | 3.9% | 4.4% | 1.8% | · | 2.7% | |
| ROIC | 2.8% | 1.6% | · | 3.2% | 2.8% | 1.4% | · | 2.1% | 3.1% | 1.2% | · | 2.8% | 3.1% | 1.5% | · | 1.9% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 2.6 | · | 2.2 | 1.7 | 2.4 | · | 2.9 | 2.5 | 2.7 | · | 3.1 | 2.6 | 2.4 | · | 1.7 | |
| Quick Ratio | 0.2 | 0.1 | · | 0.2 | 0.3 | 0.2 | · | 0.6 | 0.1 | 0.4 | · | 0.4 | 0.2 | 0.2 | · | 0.1 | |
| Debt / Equity | 0.5 | 0.5 | · | 0.5 | 0.6 | 0.6 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | 0.5 | 0.6 | · | 0.6 | |
| LT Debt / Equity | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.6 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | 0.5 | 0.6 | · | 0.6 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 2.2 | 1.9 | · | 2.4 | 2.1 | 1.9 | · | 2.4 | 2.3 | 2.0 | · | 2.9 | 2.7 | 2.4 | · | 3.0 |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8.31B | $7.78B | · | $8.03B | $7.76B | $7.20B | · | $7.75B | $7.86B | $7.49B | · | $8.04B | $7.80B | $7.23B | · | $7.10B | |
| Net Income TTM | $1.18B | $990M | · | $1.03B | $965M | $747M | · | $895M | $996M | $808M | · | $883M | $794M | $577M | · | $633M | |
| Market Cap | $38.17B | $35.48B | · | $40.61B | $34.43B | $30.82B | · | $33.08B | $32.85B | $36.11B | · | $26.85B | $29.96B | $22.83B | · | $20.96B | |
| Enterprise Value | $42.34B | $39.90B | · | $44.78B | $38.99B | $35.55B | · | $35.98B | $36.17B | $39.15B | · | $30.38B | $33.67B | $26.57B | · | $25.02B | |
| P/E | 32.9 | 36.5 | · | 39.6 | 35.9 | 41.6 | · | 37.3 | 33.3 | 45.1 | · | 30.6 | 38.0 | 39.7 | · | 33.3 | |
| P/S | 4.6 | 4.6 | · | 5.1 | 4.4 | 4.3 | · | 4.3 | 4.2 | 4.8 | · | 3.3 | 3.8 | 3.2 | · | 3.0 | |
| P/B | 4.5 | 4.2 | · | 4.6 | 4.1 | 3.8 | · | 4.2 | 4.3 | 4.8 | · | 3.6 | 4.2 | 3.3 | · | 3.1 | |
| P / Tangible Book | 11.8 | 11.1 | · | 13.1 | 12.5 | 12.5 | · | 11.1 | 12.1 | 14.4 | · | 11.0 | 16.1 | 14.1 | · | 14.5 | |
| P / Cash Flow | · | 147.2 | · | · | · | 122.5 | · | · | · | 208.2 | · | · | · | 103.2 | · | · | |
| P / FCF | · | 549.2 | · | · | · | 369.1 | · | · | · | 1752.8 | · | · | · | 824.4 | · | · | |
| EV / EBITDA | 66.9 | 91.6 | · | 61.0 | 59.4 | 86.1 | · | 72.3 | 59.3 | 120.9 | · | 52.4 | 55.6 | 79.2 | · | 54.8 | |
| EV / FCF | · | 617.7 | · | · | · | 425.7 | · | · | · | 1900.3 | · | · | · | 959.3 | · | · | |
| EV / Revenue | 5.1 | 5.1 | · | 5.6 | 5.0 | 4.9 | · | 4.6 | 4.6 | 5.2 | · | 3.8 | 4.3 | 3.7 | · | 3.5 | |
| Earnings Yield | 3.0% | 2.7% | · | 2.5% | 2.8% | 2.4% | · | 2.7% | 3.0% | 2.2% | · | 3.3% | 2.6% | 2.5% | · | 3.0% | |
| Payout Ratio | · | 41.0% | · | · | · | 51.2% | · | · | · | 60.4% | · | · | · | 47.4% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Revenue | $7.94B | — | — | $7.42B | — |
| Gross Margin % | 27.4% | — | — | 27.0% | — |
| Operating Margin % | 20.4% | — | — | 18.4% | — |
| Net Income | $1.08B | — | — | $912M | — |
| Diluted EPS | $8.11 | — | — | $6.85 | — |
Balance Sheet
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.5 | — | — | 0.7 | — |
| Current Ratio | 2.7 | — | — | 1.8 | — |
| Quick Ratio | 0.2 | — | — | 0.5 | — |
Cash Flow
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.14B | — | — | $806M | — |
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Institutional owners (13F) 1,160 filers · $23.7B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 137 (+11 vs prior Q) | 86 (-26 vs prior Q) | 374 (+6 vs prior Q) | 367 (+9 vs prior Q) | +24.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $2,499,562,203 | 8,472,805 | 10.57% | Shares |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO | $2,261,273,481 | 7,665,074 | 9.56% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,069,834,116 | 7,016,149 | 8.75% | Shares |
| STATE STREET CORP | $1,812,859,166 | 6,145,077 | 7.66% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $888,220,948 | 3,024,668 | 3.76% | Shares |
| TCI FUND MANAGEMENT LTD | $721,890,650 | 2,447,004 | 3.05% | Shares |
| Clearbridge Investments, LLC | $675,359,828 | 2,289,278 | 2.86% | Shares |
| Egerton Capital (UK) LLP | $581,669,447 | 1,971,694 | 2.46% | Shares |
| FMR LLC | $570,795,261 | 1,934,833 | 2.41% | Shares |
| PARNASSUS INVESTMENTS, LLC | $558,540,663 | 1,893,294 | 2.36% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $451,118,810 | 1,529,164 | 1.91% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $363,247,801 | 1,231,306 | 1.54% | Shares |
| NORGES BANK | $360,701,647 | 1,222,676 | 1.53% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $314,594,239 | 1,066,385 | 1.33% | Shares |
| Stockbridge Partners LLC | $314,469,745 | 1,065,963 | 1.33% | Shares |
| Veritas Asset Management LLP | $306,641,064 | 1,039,426 | 1.30% | Shares |
| BANK OF AMERICA CORP /DE/ | $239,865,255 | 813,075 | 1.01% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $216,061,784 | 732,388 | 0.91% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $214,937,206 | 728,576 | 0.91% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $213,186,000 | 722,640 | 0.90% | Shares |
| Fenimore Asset Management Inc | $194,873,522 | 660,566 | 0.82% | Shares |
| 59 North Capital Management, LP | $189,953,104 | 643,887 | 0.80% | Shares |
| MAVERICK CAPITAL LTD | $187,999,253 | 637,264 | 0.79% | Shares |
| Avantyr Capital Partners, LP | $184,176,218 | 624,305 | 0.78% | Shares |
| W1M Asset Management Ltd | $168,186,491 | 570,288 | 0.71% | Shares |
| LONDON CO OF VIRGINIA | $165,346,888 | 560,475 | 0.70% | Shares |
| PARK PRESIDIO CAPITAL LLC | $164,625,020 | 558,032 | 0.70% | Shares |
| DF DENT & CO INC | $144,617,574 | 490,212 | 0.61% | Shares |
| BARCLAYS PLC | $143,040,317 | 484,866 | 0.60% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $120,372,488 | 400,654 | 0.51% | Shares |
| RAYMOND JAMES FINANCIAL INC | $118,463,414 | 401,557 | 0.50% | Shares |
| AMERICAN CENTURY COMPANIES INC | $113,895,691 | 386,074 | 0.48% | Shares |
| Swiss National Bank | $108,557,780 | 367,980 | 0.46% | Shares |
| Empower Advisory Group, LLC | $100,866,384 | 341,908 | 0.43% | Shares |
| HighTower Advisors, LLC | $98,532,486 | 333,997 | 0.42% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $92,870,328 | 314,804 | 0.39% | Shares |
| Skye Global Management LP | $91,010,585 | 308,500 | 0.38% | Shares |
| Vanguard Global Advisers, LLC | $82,632,596 | 280,101 | 0.35% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $82,137,864 | 278,424 | 0.35% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $81,947,878 | 277,780 | 0.35% | Shares |
| VANGUARD GROUP INC | $81,908,909 | 287,178 | 0.35% | Shares |
| GOLDMAN SACHS GROUP INC | $81,275,014 | 275,499 | 0.34% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $78,963,212 | 267,663 | 0.33% | Shares |
| NICHOLAS COMPANY, INC. | $76,355,963 | 258,825 | 0.32% | Shares |
| AMERIPRISE FINANCIAL INC | $75,942,951 | 257,425 | 0.32% | Shares |
| California Public Employees Retirement System | $75,174,743 | 254,821 | 0.32% | Shares |
| W1M Investment Management Ltd | $74,617,011 | 242,653 | 0.32% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $74,296,999 | 238,629 | 0.31% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $74,282,043 | 251,795 | 0.31% | Shares |
| BlackRock, Inc. | $72,511,688 | 245,794 | 0.31% | Shares |
| RHUMBLINE ADVISERS | $71,621,555 | 242,777 | 0.30% | Shares |
| ALKEON CAPITAL MANAGEMENT LLC | $70,368,449 | 238,529 | 0.30% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $66,965,105 | 245,924 | 0.28% | Shares |
| BAMCO INC /NY/ | $64,444,344 | 218,448 | 0.27% | Shares |
| FIL Ltd | $64,222,792 | 217,697 | 0.27% | Shares |
| MONTANOVA CAPITAL, LLC | $63,420,660 | 214,978 | 0.27% | Shares |
| Legal & General Group Plc | $62,493,445 | 211,835 | 0.26% | Shares |
| Vontobel Holding Ltd. | $62,374,849 | 211,433 | 0.26% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $61,038,496 | 224,159 | 0.26% | Shares |
| National Pension Service | $60,548,737 | 205,243 | 0.26% | Shares |
| WEITZ INVESTMENT MANAGEMENT, INC. | $60,123,038 | 203,800 | 0.25% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $58,783,103 | 199,258 | 0.25% | Shares |
| BROWN BROTHERS HARRIMAN & CO | $57,545,536 | 195,063 | 0.24% | Shares |
| WELLS FARGO & COMPANY/MN | $52,592,023 | 178,272 | 0.22% | Shares |
| Assenagon Asset Management S.A. | $51,559,193 | 174,771 | 0.22% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $50,128,882 | 169,825 | 0.21% | Shares |
| Douglas Lane & Associates, LLC | $49,814,942 | 168,858 | 0.21% | Shares |
| D. E. Shaw & Co., Inc. | $49,369,038 | 167,347 | 0.21% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $47,663,941 | 161,630 | 0.20% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $46,505,192 | 157,639 | 0.20% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $46,408,613 | 157,312 | 0.20% | Shares |
| Edge Capital Group, LLC | $46,265,645 | 687 | 0.20% | Shares |
| REGIONS FINANCIAL CORP | $45,401,744 | 153,899 | 0.19% | Shares |
| MACKENZIE FINANCIAL CORP | $41,290,485 | 139,963 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $41,183,396 | 139,600 | 0.17% | Call option |
| Howard Capital Management Group, LLC | $40,998,533 | 138,973 | 0.17% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $40,514,903 | 137,334 | 0.17% | Shares |
| Narwhal Capital Management | $39,341,649 | 133,357 | 0.17% | Shares |
| CITADEL ADVISORS LLC | $38,959,021 | 132,060 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $38,695,736 | 142,107 | 0.16% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $38,501,165 | 130,508 | 0.16% | Shares |
| ROYAL BANK OF CANADA | $38,048,000 | 128,972 | 0.16% | Shares |
| Korea Investment CORP | $36,732,285 | 124,512 | 0.16% | Shares |
| MARSHALL WACE, LLP | $36,581,240 | 124,000 | 0.15% | Shares |
| LPL Financial LLC | $34,371,227 | 116,509 | 0.15% | Shares |
| Susquehanna Portfolio Strategies, LLC | $33,688,667 | 114,195 | 0.14% | Shares |
| ABN AMRO INVESTMENT SOLUTIONS | $33,290,993 | 112,847 | 0.14% | Shares |
| AVIVA PLC | $33,221,961 | 112,613 | 0.14% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $32,875,324 | 111,438 | 0.14% | Shares |
| Aberdeen Group plc | $32,578,544 | 110,432 | 0.14% | Shares |
| Silvant Capital Management LLC | $32,388,263 | 109,787 | 0.14% | Shares |
| Bridgewater Associates, LP | $32,063,752 | 108,687 | 0.14% | Shares |
| PFW Advisors LLC | $31,611,502 | 107,154 | 0.13% | Shares |
| Alecta Tjanstepension Omsesidigt | $30,765,011 | 104,320 | 0.13% | Shares |
| OSTRUM ASSET MANAGEMENT | $30,640,034 | 103,861 | 0.13% | Shares |
| Walleye Capital LLC | $29,602,778 | 100,345 | 0.13% | Shares |
| CIBC Asset Management Inc | $29,519,353 | 100,065 | 0.12% | Shares |
| COMGEST GLOBAL INVESTORS S.A.S. | $28,872,924 | 97,871 | 0.12% | Shares |
| Quantinno Capital Management LP | $28,787,727 | 97,582 | 0.12% | Shares |
| Pictet Asset Management Holding SA | $28,513,601 | 96,653 | 0.12% | Shares |
Company insiders 47 insiders · 18 officers · 19 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Mary Andrews Carlisle | SVP and CFO | July 13, 2026 A | — | 0 | 0 | $0 |
| Thompson S Baker II | President | Feb. 21, 2026 M | 59,493 | 0 | 5 | $-6,510,814 |
| Martin S Thorpe | President, Mideast Division | Feb. 10, 2017 A | 2,431 | 0 | 0 | $0 |
| Christina M Alvord | President, Southern Gulf Coast | Feb. 10, 2017 A | — | 0 | 0 | $0 |
| Brock C. Lodge Jr | President - Western Division | Feb. 10, 2017 A | 638 | 0 | 0 | $0 |
| David B. Pasley | President - Mountain West Div | Feb. 10, 2017 A | 4,107 | 0 | 0 | $0 |
| Jeffery G Lott | President, Southwest Division | Feb. 10, 2017 A | 4,389 | 0 | 0 | $0 |
| David J Grayson | President, Southeast Division | Nov. 8, 2016 S | 16,648 | 0 | 0 | $0 |
| Stanley G Bass | Chief Growth Officer | June 14, 2017 S | 21,939 | 0 | 0 | $0 |
| Jerry F Perkins Jr | General Counsel and Secretary | June 12, 2017 F | 4,302 | 0 | 0 | $0 |
| Jason P Teter | Vice President - Finance | Feb. 10, 2017 A | 1,629 | 0 | 0 | $0 |
| John R Mcpherson | EVP, Chf Fin & Strategy Ofcr | Feb. 10, 2017 A | 29,659 | 0 | 0 | $0 |
| Danny R Shepherd | Vice Chairman | May 8, 2015 M | 37,008 | 0 | 0 | $0 |
| Daniel F Sansone | Exec VP-Strategy | Nov. 6, 2014 M | 17,274 | 0 | 0 | $0 |
| Wayne J Houston | Senior VP-Human Resources | Feb. 13, 2014 A | 1,870 | 0 | 0 | $0 |
| Robert A Wason IV | Sr. VP, General Counsel | Sept. 13, 2012 M | 16,905 | 0 | 0 | $0 |
| Ronald G Mcabee | SVP, CMG-West | April 22, 2010 M | 8,526 | 0 | 0 | $0 |
| Guy M Badgett III | Sr. VP, Construction Materials | March 2, 2009 A | 13,382 | 0 | 0 | $0 |
| Melissa H. Anderson | Director | June 12, 2026 A | — | 0 | 0 | $0 |
| Lee J Styslinger III | Director | June 12, 2026 A | 4,000 | 0 | 0 | $0 |
| Thomas A Fanning | Director | June 12, 2026 A | — | 0 | 0 | $0 |
| Lydia H Kennard | Director | June 12, 2026 M | 2,112 | 0 | 0 | $0 |
| Grayson Hall | Director | June 12, 2026 M | 618 | 0 | 2 | $-1,354,267 |
| Kathleen L Quirk | Director | June 12, 2026 A | — | 0 | 0 | $0 |
| David P Steiner | Director | June 12, 2026 A | — | 0 | 0 | $0 |
| Richard T Obrien | Director | May 8, 2026 A | — | 0 | 0 | $0 |
| Vincent J Trosino | Director | Dec. 15, 2016 A | 8,200 | 0 | 0 | $0 |
| Douglas J Mcgregor | Director | Dec. 15, 2016 A | — | 0 | 0 | $0 |
| Elaine L. Chao | Director | May 16, 2016 A | — | 0 | 0 | $0 |
| Donald M James | Director | May 12, 2015 M | 137,630 | 0 | 0 | $0 |
| Donald B Rice | Director | May 7, 2015 A | 31,950 | 0 | 0 | $0 |
| Allen H Franklin | Director | Dec. 12, 2014 A | — | 0 | 0 | $0 |
| Phillip W Farmer | Director | May 8, 2014 A | — | 0 | 0 | $0 |
| Ann Mclaughlin Korologos | Director | May 9, 2013 A | 3,308 | 0 | 0 | $0 |
| CARROLL PHILIP J JR | Director | June 15, 2012 A | — | 0 | 0 | $0 |
| James V Napier | Director | Jan. 24, 2011 G | 7,334 | 0 | 0 | $0 |
| John D. Baker II | Director | March 24, 2009 A | 10,000 | 0 | 0 | $0 |
| Thomas J Hill | — | Aug. 12, 2026 M | 72,209 | 0 | 0 | $0 |
| David P Clements | — | Aug. 7, 2026 S | 6,716 | 0 | 3 | $-1,425,140 |
| James T Prokopanko | — | May 8, 2026 A | — | 0 | 0 | $0 |
| Ejaz A Khan | — | June 16, 2017 G | 26,583 | 0 | 0 | $0 |
| Cynthia Lynn Hostetler | — | June 15, 2017 A | — | 0 | 0 | $0 |
| Kathleen Wilson-Thompson | — | June 15, 2017 A | — | 0 | 0 | $0 |
| William K Duke | — | March 1, 2017 I | 11,381 | 0 | 0 | $0 |
| Michael R Mills | — | Sept. 6, 2016 G | 0 | 0 | 0 | $0 |
| Orin R Smith | — | March 27, 2009 A | — | 0 | 0 | $0 |
| William F Denson III | — | Feb. 29, 2008 A | 34,299 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 7, 2012 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 20, 2012 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 168 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PKB · Invesco Exchange-Traded Fund Trust | 5.29% | 70,590 SH | Aug. 8, 2026 | Daily |
| RSPM · Invesco Exchange-Traded Fund Trust | 3.83% | 24,925 SH | Aug. 8, 2026 | Daily |
| DRES · GMO ETF Trust | 3.57% | 4,582 NS | May 31, 2026 | N-PORT |
| UYM · ProShares Trust | 3.31% | 4,686 NS | May 31, 2026 | N-PORT |
| FMAT · FIDELITY COVINGTON TRUST | 2.55% | 51,074 NS | April 30, 2026 | N-PORT |
| VAW · VANGUARD WORLD FUND | 2.52% | 382,807 SH | Aug. 8, 2026 | Daily |
| SUPP · TCW ETF Trust | 2.36% | 947 NS | April 30, 2026 | N-PORT |
| NUMG · Nushares ETF Trust | 2.25% | 26,318 NS | April 30, 2026 | N-PORT |
| PRCS · Parnassus Funds II | 2.15% | 11,730 NS | June 30, 2026 | N-PORT |
| PAVE · Global X Funds | 2.03% | 969,237 NS | May 31, 2026 | N-PORT |
| ASLV · ALLSPRING EXCHANGE-TRADED FUNDS TRU… | 1.56% | 11,561 NS | April 30, 2026 | N-PORT |
| IFRA · iShares Trust | 1.33% | 216,523 SH | Aug. 8, 2026 | Daily |
| FMAG · FIDELITY COVINGTON TRUST | 1.20% | 10,064 NS | April 30, 2026 | N-PORT |
| MXI · iShares Trust | 1.16% | 14,628 SH | Aug. 8, 2026 | Daily |
| SZNE · Pacer Funds Trust | 1.15% | 512 NS | April 30, 2026 | N-PORT |
| MMID · MFS Active Exchange Traded Funds Tr… | 0.99% | 1,197 NS | May 31, 2026 | N-PORT |
| IGE · iShares Trust | 0.97% | 25,768 SH | Aug. 8, 2026 | Daily |
| VOT · VANGUARD INDEX FUNDS | 0.84% | 994,053 SH | Aug. 8, 2026 | Daily |
| JOET · Virtus ETF Trust II | 0.82% | 6,420 NS | April 30, 2026 | N-PORT |
| IMCG · iShares Trust | 0.47% | 68,092 SH | Aug. 8, 2026 | Daily |
| DFLV · Dimensional ETF Trust | 0.46% | 89,803 NS | April 30, 2026 | N-PORT |
| ESLV · Strategy Shares | 0.45% | 177 NS | April 30, 2026 | N-PORT |
| IYJ · iShares Trust | 0.43% | 29,500 SH | Aug. 8, 2026 | Daily |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.40% | 5,753 NS | May 31, 2026 | N-PORT |
| JOYT · J.P. Morgan Exchange-Traded Fund Tr… | 0.40% | 1,131 NS | April 30, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.37% | 2,811,942 SH | Aug. 8, 2026 | Daily |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.35% | 14,828 NS | April 30, 2026 | N-PORT |
| IWS · iShares Trust | 0.35% | 195,591 SH | Aug. 8, 2026 | Daily |
| CSM · ProShares Trust | 0.29% | 5,389 NS | May 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.26% | 527,791 SH | Aug. 8, 2026 | Daily |
| IMCB · iShares Trust | 0.24% | 14,410 SH | Aug. 8, 2026 | Daily |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.24% | 5,473 NS | April 30, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.22% | 1,132 NS | April 30, 2026 | N-PORT |
| HEQQ · J.P. Morgan Exchange-Traded Fund Tr… | 0.22% | 227 NS | April 30, 2026 | N-PORT |
| HELO · J.P. Morgan Exchange-Traded Fund Tr… | 0.21% | 28,284 NS | April 30, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.21% | 98,682 NS | April 30, 2026 | N-PORT |
| DFVE · DoubleLine ETF Trust | 0.20% | 204 NS | March 31, 2026 | N-PORT |
| NULC · Nushares ETF Trust | 0.20% | 380 NS | April 30, 2026 | N-PORT |
| XOEF · iShares Trust | 0.20% | 163 SH | Aug. 8, 2026 | Daily |
| SIZE · iShares Trust | 0.20% | 3,050 SH | Aug. 8, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.20% | 680,644 SH | Aug. 8, 2026 | Daily |
| EUSA · iShares, Inc. | 0.19% | 13,126 SH | Aug. 8, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.19% | 5,391,000 | Aug. 8, 2026 | Daily |
| GSEW · Goldman Sachs ETF Trust | 0.19% | 11,756 NS | May 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.18% | 2,807 NS | April 30, 2026 | N-PORT |
| DFVX · Dimensional ETF Trust | 0.18% | 2,820 NS | April 30, 2026 | N-PORT |
| CRTC · DBX ETF Trust | 0.17% | 794 NS | May 31, 2026 | N-PORT |
| VIG · VANGUARD SPECIALIZED FUNDS | 0.17% | 733,060 SH | Aug. 8, 2026 | Daily |
| EQL · ALPS ETF Trust | 0.17% | 8,170 NS | May 31, 2026 | N-PORT |
| USXF · iShares Trust | 0.14% | 7,596 SH | Aug. 8, 2026 | Daily |