Eagle Materials (EXP) financial statements
Eagle Materials reported revenue of $2.3B in fiscal 2026, up 7.4% a year over 9 years.
Net income was $424M.
Free cash flow was $197M, and the company returned $32M in dividends and $382M in net buybacks.
The diluted share count fell 33% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Eagle Materials's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.4B | $1.3B | $1.4B | $1.6B | $1.9B | $2.1B | $2.3B | $2.3B | $2.3B |
| Cost of revenue | $899M | $1.0B | $962M | $1.1B | $1.2B | $1.3B | $1.5B | $1.6B | $1.6B | $1.7B |
| Gross profit | $312M | $339M | $348M | $343M | $408M | $520M | $639M | $685M | $673M | $653M |
| Selling, general and admin | $91M | $104M | $91M | $122M | $106M | $103M | $119M | $135M | $149M | $167M |
| Operating income | $354M | $382M | $387M | $385M | $446M | $552M | $675M | $717M | — | — |
| Interest expense | $23M | $28M | $28M | $38M | $44M | $31M | $35M | $42M | $41M | $46M |
| Pre-tax income | $295M | $272M | $284M | $256M | $424M | $475M | $589M | $618M | $591M | $542M |
| Income tax | $96M | $15M | $60M | $25M | $90M | $101M | $127M | $140M | $128M | $118M |
| Net income | $198M | $257M | $69M | $71M | $339M | $374M | $462M | $478M | $463M | $424M |
| EPS (diluted) | $4.10 | $5.28 | $1.47 | $1.68 | $8.12 | $9.14 | $12.46 | $13.61 | $13.77 | $13.16 |
| Diluted shares | 48M | 49M | 47M | 42M | 42M | 41M | 37M | 35M | 34M | 32M |
| Gross margin | 25.8% | 24.4% | 26.6% | 24.4% | 25.2% | 27.9% | 29.8% | 30.3% | 29.8% | 28.3% |
| Operating margin | 29.3% | 27.6% | 29.5% | 27.4% | 27.5% | 29.7% | 31.4% | 31.7% | — | — |
| Net margin | 16.4% | 18.5% | 5.3% | 5.0% | 20.9% | 20.1% | 21.5% | 21.1% | 20.5% | 18.4% |
Balance sheet
Fiscal years, from Eagle Materials's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $7M | $9M | $9M | $119M | $264M | $19M | $15M | $35M | $20M | $298M |
| Receivables | — | — | — | — | $147M | $176M | $195M | $203M | $212M | $229M |
| Inventory | $253M | $258M | $275M | $272M | $236M | $237M | $292M | $374M | $415M | $408M |
| Total current assets | $401M | $459M | $428M | $678M | $662M | $443M | $522M | $628M | $669M | $951M |
| Property, plant and equipment | $1.5B | $1.6B | $1.4B | $1.8B | $1.7B | $1.6B | $1.7B | $1.7B | $1.8B | $2.1B |
| Goodwill | $198M | $205M | $198M | $332M | $329M | $329M | $381M | $393M | $470M | $471M |
| Total assets | $2.2B | $2.4B | $2.2B | $3.0B | $2.8B | $2.6B | $2.8B | $2.9B | $3.3B | $3.8B |
| Total current liabilities | $230M | $179M | $179M | $170M | $169M | $208M | $213M | $239M | $245M | $260M |
| Long-term debt | $605M | $621M | $655M | $1.6B | $1.0B | $938M | $1.1B | $1.1B | $1.2B | $1.7B |
| Total liabilities | $1.0B | $950M | $960M | $2.0B | $1.5B | $1.4B | $1.6B | $1.6B | $1.8B | $2.4B |
| Shareholders' equity | $1.2B | $1.4B | $1.2B | $968M | $1.4B | $1.1B | $1.2B | $1.3B | $1.5B | $1.5B |
| Net debt | $680M | $612M | $683M | $1.4B | $745M | $919M | $1.1B | $1.1B | $1.2B | $1.5B |
Cash flow
Fiscal years, from Eagle Materials's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $332M | $338M | $350M | $399M | $643M | $517M | $542M | $564M | $549M | $614M |
| Capital spending | $57M | $132M | $169M | $132M | $54M | $74M | $110M | $120M | $195M | $417M |
| Free cash flow | $275M | $206M | $181M | $267M | $589M | $443M | $432M | $444M | $353M | $197M |
| Stock-based compensation | $12M | $14M | $15M | $20M | $15M | $14M | $17M | $20M | $19M | $21M |
| Dividends paid | $19M | $19M | $19M | $17M | $4M | $31M | $37M | $35M | $34M | $32M |
| Share buybacks (net) | -$60M | -$61M | -$272M | -$314M | $0 | -$590M | -$388M | -$343M | -$298M | -$382M |
| Net borrowing | $350M | — | — | — | — | — | — | — | — | — |
| Free cash flow margin | 22.7% | 14.8% | 13.8% | 19.0% | 36.3% | 23.8% | 20.1% | 19.6% | 15.6% | 8.6% |
| Dividends per share | $0.40 | $0.40 | $0.40 | $0.41 | $0.10 | $0.75 | $1.01 | $1.01 | $1.00 | $1.01 |
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Open EXP in InvestinglyQuestions
What was Eagle Materials's revenue in 2026?
$2.3B in fiscal 2026, from its 10-K filing.
How much free cash flow does Eagle Materials generate?
$197M in fiscal 2026 (operating cash flow minus capital spending).
From Eagle Materials's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.