Basic Materials

129 companies in 12 industries · $978B combined revenue · $160B operating profit

7.4%Median revenue growth
4.9%Median earnings growth
15%Median operating margin
9.5%Median ROCE
23%Companies with net cash

Growth engines: the 4 Cylinders

All four working: 17% of companies

A company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.

  • Sales growth · Revenue up 10% or more43%
  • Operating leverage · Operating income growing faster than a growing revenue50%
  • Margin expansion · Operating margin up 1 point or more44%
  • Debt reduction · Debt down 5% or more, or net cash42%

Industries in Basic Materials

All 129 basic materials companies

Median–7.4%4.9%15%9.5%0.50x
LINLINDE · Chemicals$34.0B3%▼5.1%▲26.3%▲12.5%▲0.59x▼
BHPBHP · Metals & mining$58.8B14.6%▲16.9%▲40.6%▲22.7%▲0.46x▲
SCCOSouthern Copper Corp/ · Copper$13.4B17.4%▲28.3%▲52.2%▲36.4%▲0.61x▼
RIORIO Tinto · Metals & mining$57.6B7.4%-11.4%▼25.9%▲13.2%▲0.35x▲
GLWCorning · Metals & mining$15.6B19.1%▲215%▲14.6%▼9%▼0.71x▼
NEMNewmont · Gold$22.7B21.3%▲112%▲48.4%▲21.3%▲0.15x▲
FCXFreeport-Mcmoran · Copper$25.2B0.1%▼-5.6%▼25.9%▲12.5%▲0.50x▼
AEMAgnico Eagle Mines · Gold$11.9B43.7%▲135%▲57.1%▲21.2%▲0.01x▲
HWMHowmet Aerospace · Metals & mining$8.3B11.1%▲30.6%▲24.8%▲21.7%▲0.57x▼
APDAir Products & Chemicals · Chemicals$12.0B-0.5%▼-110%▼-7.3%▼-2.4%▼1.18x▼
BBarrick Mining · Gold$17.0B31.2%▲132%▲54.3%▲19.2%▲0.18x▲
WPMWheaton Precious Metals · Gold$2.3B80.2%▲178%▲68.3%▲17.6%▲–
NUENUCOR · Steel$32.5B5.7%▼-14%▼––0.33x▲
VALEVale · Metals & mining$38.4B0.9%▼-66.8%▼15.4%▲8.3%▼–
CRHCRH Public · Building materials$37.4B5.3%▼7.5%▲14.5%▼11%▲0.73x▼
MTArcelorMittal · Steel$61.4B-1.7%▼135%▲5.9%▼4.8%▼0.25x▲
FNVFranco Nevada · Gold$1.8B63.7%▲101%▲74.3%▲16.7%▲–
AUAngloGold Ashanti · Gold$9.9B70.8%▲203%▲44.4%▲32.6%▲0.25x▲
CCJCameco · Metals & miningCAD 3.5B11%▲243%▲17.8%▲6.7%▼0.14x▲
STLDSteel Dynamics · Steel$18.2B3.6%▼-22.9%▼8.1%▼10.3%▲0.47x▲
MLMMartin Marietta Materials · Building materials$6.2B8.6%▲-43%▼23.4%▲8.1%▼0.53x▼
NTRNutrien · Agricultural inputs$26.9B3.5%▼228%▲13.9%▼9.1%▼0.40x▲
TECKTECK Resources · Building materialsCAD 10.8B18.7%▲279%▲20.9%▲5.5%▼0.16x▲
GFIGold Fields · Gold$8.8B68.2%▲182%▲62.3%▲40.3%▲0.32x▲
VMCVulcan Materials · Building materials$7.9B7.1%▼18.1%▲20.4%▲10.3%▲0.51x▼
TSTenaris · Steel$12.0B-4.3%▼-5%▼19.1%▲12.9%▲0.02x▲
KGCKinross Gold · Gold$7.1B36.9%▲148%▲46.5%▲29.8%▲0.09x▲
ATIATI · Steel$4.6B5.2%▼9.9%▲14%▼15.7%▲0.97x▼
PPGPPG Industries · Specialty chemicals$15.9B0.2%▼41.2%▲––0.92x▼
IFFInternational Flavors & Fragrances · Specialty chemicals$10.9B-5.2%▼-234%▼-3.5%▼-1.8%▼0.42x▲
DOWDow · Chemicals$40.0B-7%▼-303%▼-4.1%▼-3.3%▼1.12x▼
AMRZAmrize · Building materials$11.8B0.9%▼-7%▼16.1%▲8.9%▼0.40x▲
LYBLyondellBasell Industries · Specialty chemicals$30.2B-9.7%▼-154%▼-1.4%▼-1.5%▼1.22x▼
RGLDRoyal Gold · Metals & mining$1.0B43.2%▲40.4%▲61.9%▲6.8%▼0.13x▲
CRSCarpenter Technology · Steel$3.1B8.6%▲40.9%▲22.5%▲21.2%▲0.31x▲
CFCF Industries · Agricultural inputs$7.1B19.3%▲21.7%▲32.5%▲17.4%▲0.66x▼
SQMChemical & Mining CO of Chile · Building materials$4.6B1%▼-7.4%▼23.2%▲8.3%▼1.12x▼
PAASPan American Silver · Gold$3.6B28.4%▲767%▲34.1%▲13.8%▲0.10x▲
DDDuPont de Nemours · Chemicals$6.8B1.9%▼-211%▼7.5%▼2.7%▼0.23x▲
PKXPOSCO · SteelKRW 68.99T-6.1%▼-47.6%▼2.1%▼1.8%▼0.51x▼
IPInternational Paper · Paper & paper products$23.6B49.3%▲-731%▼––0.66x▼
CDECoeur Mining · Gold$2.1B96.4%▲895%▲34.2%▲16.4%▲–
JHXJames Hardie Industries · Building materials$4.8B24.7%▲-75.5%▼9.3%▼3.6%▼0.71x▼
CXCemex Sab de CV · Building materials$16.1B0.4%▼1%▼6.2%▼4.7%▼0.42x▲
MLIMueller Industries · Metals & mining$4.2B10.9%▲26.5%▲22.9%▲28.9%▲0.00x▲
CSLCarlisle Companies · Specialty chemicals$5.0B0.3%▼-43.5%▼20%▲18.1%▲1.61x▼
AGIAlamos Gold · Gold$1.8B34.3%▲212%▲60.7%▲18.9%▲0.04x▲
RPMRPM International · Specialty chemicals$7.9B6.7%▼-4%▼12.5%▼15.6%▲0.77x▼
EQXEquinox Gold · Gold$1.8B99.1%▲-34.7%▼23.8%▲4.7%▼0.27x▲
ALBAlbemarle · Chemicals$5.1B-4.4%▼–-7.1%▼-2.5%▼0.33x▲
HBMHudbay Minerals · Metals & mining$2.2B9.4%▲732%▲41.5%▲18.3%▲0.31x▲
SUZSuzano · Paper & paper productsBRL 50.1B5.7%▼–21.2%▲6.9%▼2.16x▼
AAAlcoa · Aluminum$12.8B7.9%▲1828%▲9.5%▼9.9%▲0.40x▲
HMYHarmony Gold Mining · GoldZAR 73.9B20.4%▲67.4%▲27.5%▲31.3%▲0.04x▲
GGBGerdau · SteelBRL 69.9B4.2%▼-69.2%▼5.4%▼5.2%▼–
HLHecla Mining · Building materials$1.4B53%▲799%▲36.2%▲15.5%▲0.10x▲
IAGIamgold · Gold$2.9B74.7%▲-13.6%▼38.3%▲20.5%▲0.16x▲
SOLSSolstice Advanced Materials · Chemicals$3.9B3.1%▼-60.1%▼17.4%▲17%▲1.40x▼
WMSAdvanced Drainage Systems · Specialty chemicals$3.1B5%▼-5.3%▼20.3%▲15.5%▲0.87x▼
EGOEldorado Gold · Gold$1.8B37.5%▲75.7%▲40%▲12.2%▲0.30x▲
ESIElement Solutions · Specialty chemicals$2.6B3.8%▼-21.9%▼13.4%▼7.3%▼0.61x▼
OCOwens Corning · Building materials$10.1B2.6%▼-181%▼3.6%▼3.5%▼1.23x▼
NEUNewmarket · Specialty chemicals$2.7B-2.2%▼-9.4%▼20%▲17.7%▲0.50x▼
WLKWestlake · Specialty chemicals$11.2B-8%▼-350%▼-14.1%▼-9.2%▼0.64x▼
BVNBuenaventura Mining · Metals & mining$1.7B50%▲99.4%▲36.6%▲11.6%▲–
ATRAptargroup · Specialty chemicals$3.8B5.4%▼4.9%13.3%▼12.3%▲0.50x▲
AGFirst Majestic Silver · Gold$1.3B124%▲–31.6%▲9.4%▼0.11x▲
EMNEastman Chemical · Chemicals$8.8B-6.7%▼-47.6%▼––0.80x▼
AXTAAxalta Coating Systems · Specialty chemicals$5.1B-3%▼-3.3%▼14.4%▼11.8%▲1.36x▼
CLFCleveland-Cliffs · Metals & mining$18.6B-3%▼–-8.5%▼-9.4%▼1.19x▼
MPMP Materials Corp. / DE · Metals & mining$224M10.1%▲–-66.6%▼-4.2%▼0.50x▼
AWIArmstrong World Industries · Specialty chemicals$1.6B12.1%▲16.5%▲26.6%▲26%▲0.45x▲
HXLHexcel · Chemicals$1.9B-0.5%▼-17.2%▼9.1%▼7.2%▼0.79x▼
OROR Royalties · Gold$277M45.1%▲1167%▲70.9%▲12.8%▲0.00x▲
SSRMSSR Mining · Metals & mining$1.6B62.4%▲–28.8%▲8.4%▼0.08x▲
TFPMTriple Flag Precious Metals · Metals & mining$389M44.5%▲–56.8%▲10.6%▲0.00x▲
MOSMosaic · Agricultural inputs$12.1B8.4%▲209%▲6.8%▼4%▼0.41x▲
NPOEnpro · Specialty chemicals$1.1B9%▲-44.4%▼14.1%▼6.5%▼0.42x▲
SXTSensient Technologies · Specialty chemicals$1.6B3.5%▼7.9%▲12.8%▼10.5%▲0.59x▼
BCPCBalchem · Chemicals$1.0B8.8%▲20.5%▲20.2%▲13.9%▲–
EXPEagle Materials · Building materials$2.3B2.1%▼-8.5%▼25.5%▲16.4%▲1.19x▼
CECelanese · Chemicals$9.5B-7.1%▼–-8.2%▼-4.4%▼3.41x▼
WFGWest Fraser Timber · Lumber & wood production$5.5B-11.5%▼–-21.7%▼-17%▼0.05x▲
MEOHMethanex · Specialty chemicals$3.6B-3.5%▼-42.1%▼12%▼6.6%▼1.13x▼
CSWCSW Industrials · Specialty chemicals$1.1B23.3%▲-18%▼15.6%▲8.1%▼0.83x▼
HCCWarrior Met Coal · Silver$1.3B-14.1%▼-77.3%▼3.5%▼1.8%▼0.07x▲
LPXLouisiana-Pacific · Lumber & wood production$2.7B-7.9%▼-65.2%▼7.7%▼8.9%▼0.20x▲
FBINFortune Brands Innovations · Lumber & wood production$4.5B-3.2%▼-36.7%▼11.6%▼9.5%1.07x▼
TREXTREX · Lumber & wood production$1.2B2%▼-20.1%▼22%▲21.4%▲–
PRMPerimeter Solutions · Chemicals$653M16.4%▲–-30.8%▼-8.1%▼0.59x▼
CNRCore Natural Resources · Silver$4.2B92.4%▲-153%▼-4.4%▼-3.4%▼0.11x▲
SIMGRUPO SIMEC, S.A.B. de C.V. · SteelMXN 30.3B-10%▼-85.7%▼9.3%▼4.5%▼0.02x▲
UFPIUfp Industries · Lumber & wood production$6.3B-5%▼-28.9%▼5.8%▼10.3%▲0.08x▲
CGAUCenterra Gold · Gold$1.1B28.8%▲–1.6%▼0.9%▼0.00x▲
BDCBelden · Metals & mining$2.7B10.3%▲19.7%▲11.6%▼11.1%▲1.02x▼
CBTCABOT · Specialty chemicals$3.7B-7%▼-12.9%▼16.7%▲21.7%▲0.72x▼
USARUSA Rare Earth · Metals & mining$2M––-3622%▼-9.1%▼–
UECUranium Energy · Metals & mining$37M-44.3%▼–-357%▼-9%▼–
AVNTAvient · Chemicals$3.3B0.6%▼-51.7%▼6.2%▼3.9%▼0.81x▼
EROEro Copper · Metals & mining$786M67.1%▲–34.4%▲16.3%▲0.65x▼
CSTMConstellium · Metals & mining$8.4B15.2%▲388%▲6%▼14.3%▲2.04x▼
ARISAris Mining · Gold$928M81.7%▲241%▲38.7%▲16.3%▲0.36x▲
ASHAshland · Chemicals$1.8B-13.7%▼-600%▼-42.5%▼-18.5%▼0.73x▼
CENXCentury Aluminum · Aluminum$2.5B13.9%▲-87.6%▼6.3%▼9.1%▼0.68x▼
WORWorthington Enterprises · Steel$1.4B19.7%▲62.5%▲5.5%▼4.7%▼0.30x▲
USLMUnited States Lime & Minerals · Building materials$373M17.3%▲23.4%▲42.4%▲24%▲0.00x▲
FSMFortuna Mining · Gold$947M39.8%▲119%▲43.1%▲19.4%▲–
TGBTrekor Metals · GoldCAD 673M10.7%▲–3%▼0.9%▼0.96x▼
ALMAlmonty Industries · Metals & miningCAD 33M12.8%▲–-111%▼-7%▼0.45x▲
SMGScotts Miracle-Gro · Agricultural inputs$3.4B-3.9%▼–10.5%▼17.9%▲–
KNFKnife River · Building materials$3.1B8.5%▲-22.1%▼9.1%▼8.7%▼0.71x▼
HWKNHawkins · Chemicals$1.1B11.2%▲-3.3%▼11.2%▼13.8%▲0.46x▲
WDFCWD 40 · Specialty chemicals$620M5%▼30.7%▲16.7%▲27.8%▲0.32x▲
FULFuller H B · Specialty chemicals$3.5B-2.7%▼16.7%▲17.9%▲14%▲1.01x▼
NGNovagold Resources · Gold$0M–––-14.3%▼1.02x▼
AAUCAllied Gold · Gold$1.3B82.3%▲–19.8%▲23.2%▲0.38x▲
ROGRogers · Chemicals$811M-2.3%▼-337%▼-5.6%▼-3.5%▼–
LEUCentrus Energy · Building materials$449M1.5%▼6.3%▲11.2%▼2.5%▼1.54x▼
NGVTIngevity · Chemicals$1.2B-2.7%▼–35.9%▲32%▲41x▼
TTAMTitan America · Building materials$1.7B1.8%▼11.7%▲16.1%▲15.8%▲0.38x▲
IOSPInnospec · Chemicals$1.8B-3.7%▼228%▲7.3%▼8.8%▼–
KALUKaiser Aluminum · Metals & mining$3.4B11.5%▲71.2%▲5.6%▼8.8%▼1.28x▼
NWLNewell Brands · Specialty chemicals$7.2B-5%▼–0.5%▼0.5%▼1.95x▼
EXKEndeavour Silver · Gold$468M115%▲–7.6%▼3.7%▼0.02x▲
UUUUEnergy Fuels · Building materials$66M-15.6%▼–-153%▼-7.3%▼1.00x▼
DRDDrdgold · GoldZAR 11.2B41.6%▲89.7%▲51.4%▲35%▲–
SVMSilvercorp Metals · Gold$438M46.6%▲-58.2%▼18.7%▲6.1%▼–
DNNDenison Mines · Metals & miningCAD 5M22.2%▲–-1248%▼-5.8%▼–
MTXMinerals Technologies · Chemicals$2.1B-2.2%▼-111%▼2.3%▼1.6%▼0.56x▼

▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).