VALMONT INDUSTRIES INC VMI
Valmont Industries, Inc., along with its subsidiaries (collectively referred to as the "Company," "Valmont," "we," "us," or "our"), is a diversified manufacturer of products and services for infrastructure and agriculture markets. Founded in 1946 and headquartered in Omaha, Nebraska, our purpose is to conserve resources and improve life. We have been publicly traded since 1968, with our shares listed on the New York Stock Exchange under the ticker symbol "VMI."
Infrastructure: This segment consists of the manufacture and distribution of products and solutions to serve the infrastructure markets of utility, lighting, transportation, telecommunications, and solar, along with coatings services to protect metal products.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.10B | $4.08B | $4.17B | $4.35B | $3.50B | $2.90B | $2.77B | $2.76B | $2.75B | $2.52B |
| Cost of revenue | $2.86B | $2.83B | $2.94B | $3.22B | $2.62B | $2.13B | $2.08B | $2.09B | $2.06B | $1.87B |
| Gross profit | $1.24B | $1.24B | $1.24B | $1.13B | $883.9M | $765.5M | $682.7M | $668.2M | $681.8M | $656.2M |
| R&D | $33.0M | $59.0M | $55.0M | $46.0M | $37.0M | $21.4M | $13.9M | $11.5M | $11.6M | $8.3M |
| SG&A | $717.6M | $716.6M | $768.4M | $693.0M | $590.6M | $522.9M | $454.8M | $440.2M | $414.7M | $410.9M |
| Operating income | $415.6M | $524.6M | $291.6M | $433.2M | $286.8M | $226.0M | $227.9M | $212.2M | $267.1M | $245.4M |
| Interest expense | $40.5M | $58.7M | $56.8M | $47.5M | $42.6M | $41.1M | $40.2M | $44.2M | $44.6M | $44.4M |
| Pre-tax income | $377.6M | $468.7M | $236.5M | $363.9M | $260.1M | $192.8M | $199.9M | $153.3M | $228.5M | $220.5M |
| Income tax | $23.9M | $118.0M | $90.1M | $108.7M | $61.4M | $49.6M | $47.8M | $45.6M | $106.1M | $42.1M |
| Net income | $350.3M | $348.3M | $150.8M | $250.9M | $195.6M | $142.1M | $152.1M | $107.7M | $122.3M | $178.4M |
| EPS, basic | 16.91 | 17.31 | 6.85 | 11.77 | 9.23 | 6.60 | 6.76 | 4.56 | 5.16 | 7.68 |
| EPS, diluted | 16.79 | 17.19 | 6.78 | 11.62 | 9.10 | 6.57 | 6.73 | 4.53 | 5.11 | 7.63 |
| Shares, diluted (wtd. avg.) | $19.9M | $20.3M | $21.2M | $21.6M | $21.5M | $21.4M | $21.8M | $22.4M | $22.7M | $22.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $187.1M | $164.3M | $203.0M | $185.4M | $177.2M | $400.7M | $353.5M | $313.2M | $492.8M | $413.6M |
| Receivables | $590.1M | $654.4M | $658.0M | $604.2M | $571.6M | $511.7M | $480.0M | $484.0M | $503.7M | $439.3M |
| Inventory | $566.4M | $590.3M | $658.4M | $728.8M | $728.8M | $448.9M | $418.4M | $383.6M | $420.9M | $350.0M |
| Total current assets | $1.72B | $1.68B | $1.79B | $1.78B | $1.71B | $1.55B | $1.43B | $1.34B | $1.47B | $1.25B |
| Property, plant and equipment | $673.9M | $589.0M | $617.4M | $595.6M | $598.6M | $597.7M | $558.1M | $514.0M | $518.9M | $518.3M |
| Goodwill | $571.0M | $623.8M | $633.0M | $739.9M | $708.6M | $430.3M | $428.9M | $385.2M | $337.7M | $321.1M |
| Other intangibles | $121.3M | $134.1M | $150.7M | $176.6M | $175.4M | $167.2M | $175.7M | $176.0M | $138.6M | $144.4M |
| Total assets | $3.37B | $3.33B | $3.48B | $3.56B | $3.45B | $2.95B | $2.81B | $2.58B | $2.60B | $2.39B |
| Accounts payable | $359.5M | $372.2M | $358.3M | $360.3M | $347.8M | $268.1M | $198.0M | $218.1M | $227.9M | $177.5M |
| Short-term debt | $513.0K | $692.0K | $719.0K | $1.2M | $4.9M | $2.7M | $760.0K | $779.0K | $966.0K | $851.0K |
| Total current liabilities | $731.6M | $811.4M | $723.1M | $804.0M | $765.9M | $673.3M | $513.8M | $409.0M | $403.0M | $349.8M |
| Long-term debt | $795.1M | $729.9M | $1.11B | $870.9M | $947.1M | $728.4M | $764.9M | $741.8M | $753.9M | $754.8M |
| Total liabilities | $1.73B | $1.74B | $2.06B | $1.92B | — | — | — | — | — | — |
| Retained earnings | $3.16B | $2.94B | $2.64B | $2.59B | $2.39B | $2.25B | $2.17B | $2.03B | $1.95B | $1.87B |
| Total equity | $1.63B | $1.54B | $1.35B | $1.58B | $1.39B | $1.18B | $1.19B | $1.18B | $1.18B | $982.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $456.5M | $572.7M | $306.8M | $326.3M | $65.9M | $316.3M | $307.6M | $153.0M | $133.1M | $232.8M |
| Depreciation and amortisation | $88.5M | $95.4M | $98.7M | $97.2M | $92.6M | $82.9M | $82.3M | $82.8M | $85.0M | $82.4M |
| Stock-based compensation | $24.3M | $29.9M | $39.2M | $41.9M | $28.7M | $14.9M | $11.6M | $10.4M | $10.7M | $9.9M |
| Capital expenditure | $145.0M | $79.5M | $96.8M | $93.3M | $107.8M | $106.7M | $97.4M | $72.0M | $55.3M | $57.9M |
| Investing cash flow | -$142.7M | -$78.9M | -$115.3M | -$132.1M | -$417.3M | -$104.0M | -$168.2M | -$155.4M | -$49.6M | -$53.0M |
| Financing cash flow | -$298.9M | -$522.6M | -$176.4M | -$181.9M | $133.5M | -$173.8M | -$99.0M | -$162.1M | -$32.0M | -$95.2M |
| Dividends paid | $52.5M | $48.4M | $49.5M | $45.8M | $41.4M | $36.9M | $32.6M | $33.7M | $33.9M | $34.1M |
| Buybacks | $198.1M | $70.1M | $345.3M | $40.5M | $26.1M | $56.5M | $62.9M | $114.8M | $0 | $53.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000102729-26-000007.
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