Eagle Materials Inc. (EXP) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-17.2%

$161.16

vs $194.67 price

Levered DCF

$137.48

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.29

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	14.35×	15.99×	19.67×	11.7×	13.91×	16.91×	34.57×	56.56×
P/B	4.02×	5.09×	7.18×	4.55×	4.59×	4.11×	2.54×	3.23×
P/S	2.57×	3.28×	4.16×	2.51×	2.8×	3.44×	1.69×	2.8×
EV / EBITDA	9.72×	10.93×	12.92×	8.53×	9.7×	10.66×	9.69×	19.87×
Gross margin	28.3%	29.8%	30.3%	29.8%	27.9%	25.2%	22.8%	23.4%
Operating margin	24.3%	26.5%	27.7%	27.3%	25.4%	22.1%	19.1%	20.8%
Net margin	18.4%	20.5%	21.1%	21.5%	20.1%	20.9%	4.9%	4.9%
Current ratio	3.66×	2.73×	2.62×	2.45×	2.13×	3.91×	4×	2.38×
Debt / equity	1.22×	0.88×	0.86×	0.94×	0.86×	0.77×	1.67×	0.57×
Interest coverage	9.51×	14.18×	14.45×	16.45×	15.3×	8.08×	7.22×	10.19×
Dividend yield	0.5%	0.5%	0.4%	0.7%	0.6%	0.1%	0.7%	0.5%
Payout ratio	7.6%	7.3%	7.4%	8.1%	8.2%	1.2%	24.2%	27.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	28.7%	31.8%	36.5%	38.9%	33.0%	25.0%	7.3%	5.7%
Return on invested capital	12.2%	15.4%	17.7%	17.8%	15.7%	10.6%	9.9%	12.3%
Return on assets	11.0%	14.2%	16.2%	16.6%	14.5%	12.0%	2.4%	3.2%
Free cash flow yield	3.3%	4.8%	4.7%	8.0%	8.5%	10.6%	10.9%	4.6%
Earnings yield	7.1%	6.3%	5.1%	8.5%	7.2%	6.1%	2.9%	1.8%
Enterprise value	$7.4B	$8.7B	$10.5B	$6.5B	$6.2B	$6.4B	$4B	$4.6B
Net debt / EBITDA	1.96×	1.58×	1.34×	1.45×	1.5×	1.31×	3.67×	2.96×
Cash conversion cycle (days)	97	102	92	80	69	79	130	102