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Building materials · Basic Materials · Fiscal year ends Mar 31
Eagle Materials reported revenue of $2.3B in the fiscal year ended Mar 2026, up 2.1% from the year before. Operating income was $588M, an operating margin of 25.5%, and net income was $424M. Operating cash flow of $614M less capital expenditure of $417M left free cash flow of $197M. Net debt was $1.5B.
Ranks among the 16 building materials companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 1,862 | 2,148 | 2,259 | 2,261 | 2,309 |
| Cost of revenue | 1,342 | 1,509 | 1,574 | 1,587 | 1,656 |
| Gross profit | 520 | 639 | 685 | 673 | 653 |
| Selling, general & admin | 103 | 119 | 135 | 149 | 167 |
| Operating incomederived: pre-tax income + interest | 552 | 675 | 717 | 632 | 588 |
| Interest expense | 30.9 | 35.2 | 42.3 | 40.5 | 46.5 |
| Pre-tax income | – | – | 618 | 591 | 542 |
| Income tax | 101 | 127 | 140 | 128 | 118 |
| Net income | 374 | 462 | 478 | 463 | 424 |
| Diluted EPS | 9.14 | 12.46 | 13.61 | 13.77 | 13.16 |
| Diluted shares | 40.9 | 37.1 | 35.1 | 33.6 | 32.2 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 19.4 | 15.2 | 34.9 | 20.4 | 298 |
| Receivables | 176 | 195 | 203 | 212 | 229 |
| Inventory | 237 | 292 | 374 | 415 | 408 |
| Current assets | 443 | 522 | 628 | 669 | 951 |
| Net PP&E | 1,617 | 1,662 | 1,676 | 1,793 | 2,065 |
| Goodwill | 329 | 381 | 393 | 470 | 471 |
| Total assets | 2,580 | 2,781 | 2,947 | 3,265 | 3,842 |
| Payables | 114 | 110 | 127 | 130 | 139 |
| Current liabilities | 208 | 213 | 239 | 245 | 260 |
| Short-term debt | 0.0 | 10.0 | 10.0 | 15.0 | 15.0 |
| Long-term debt | 938 | 1,079 | 1,083 | 1,223 | 1,745 |
| Total liabilities | 1,446 | 1,595 | 1,638 | 1,808 | 2,367 |
| Shareholders' equity | 1,134 | 1,186 | 1,309 | 1,457 | 1,475 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 517 | 542 | 564 | 549 | 614 |
| Capital expenditure | 74.1 | 110 | 120 | 195 | 417 |
| Free cash flow | 443 | 432 | 444 | 353 | 197 |
| Depreciation & amortisation | 129 | 139 | 150 | 159 | 165 |
| Stock-based compensation | 14.3 | 17.2 | 19.9 | 18.7 | 21.3 |
| Share buybacks | 590 | 388 | 343 | 298 | 382 |
| Dividends paid | 30.8 | 37.5 | 35.3 | 33.7 | 32.4 |
| Dividend per share | 0.75 | 1.00 | 1.00 | 1.00 | 1.00 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 15.4% | 5.2% | 0.1% | 2.1% |
| Operating income growth (YoY) | – | 22.2% | 6.2% | −11.8% | −6.9% |
| EPS growth (YoY) | – | 36.3% | 9.2% | 1.2% | −4.4% |
| Gross margin | 27.9% | 29.8% | 30.3% | 29.8% | 28.3% |
| Operating margin | 29.7% | 31.4% | 31.7% | 28.0% | 25.5% |
| Net margin | 20.1% | 21.5% | 21.1% | 20.5% | 18.4% |
| Return on equityBlank when equity is negative | 33.0% | 38.9% | 36.5% | 31.8% | 28.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 23.3% | 26.3% | 26.5% | 20.9% | 16.4% |
| Free cash flow margin | 23.8% | 20.1% | 19.6% | 15.6% | 8.6% |
| Cash conversion (CFO ÷ net income) | 1.38x | 1.17x | 1.18x | 1.18x | 1.45x |
| Receivable days | 35 | 33 | 33 | 34 | 36 |
| Inventory days | 64 | 71 | 87 | 95 | 90 |
| Payable days | 31 | 27 | 29 | 30 | 31 |
| Interest cover | 17.9x | 19.2x | 17.0x | 15.6x | 12.7x |
| Debt ÷ equity | 0.83x | 0.92x | 0.84x | 0.85x | 1.19x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 919 | 1,074 | 1,058 | 1,218 | 1,462 |
| Current ratio | 2.13x | 2.45x | 2.62x | 2.73x | 3.66x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.