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Mining & quarrying of nonmetallic minerals (no fuels) company · TX · FY ends Dec · Revenue $369M · 41.63% margin · $91M FCF
$105.88
+$1.76 (+1.69%)
Price from 13 days ago
Margins and capital returns are both well above average: 42.35% operating margin, ROIC at 21.29%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue up 17.3% YoY with margins expanding 3.0pp.
Even for strong businesses, today's 23x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
23.3x earnings, 33.3x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$369M
▲ +17.3% YoY
Net Income (TTM)
$131M
▲ +23.4% YoY
Op. Margin
41.63%
▲ +3.0pp YoY
ROIC
18.99%
▼ -0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$91M
▲ +3.7% YoY
Op. Cash Flow (TTM)
$158M
▲ +30.9% YoY
Net Debt
-$380M
Net Cash Position
Cash & Equiv.
$383M
5Y CAGR: +18.3%
5Y CAGR: +19.8%
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