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Vulcan Materials cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$209M in Q3 2026 · $781M over twelve months

Operating cash flow$386M
Capital spending−$178M
Free cash flow+$209M
Cash / net income1.1×

Analysis

In Q3 2026, Vulcan Materials generated $386M of operating cash flow and spent $178M on capital projects, leaving free cash flow of $209M. That is $246M less than in Q3 2025 ($455M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.5B; the largest uses were buybacks ($1.2B), capital spending ($733M), acquisitions ($296M); besides operations, cash came from asset & business sales ($701M), net borrowing (+) / repaid (−) ($256M); the cash balance fell by $22.8M.

Operating cash flow was $386M against net income of $363M — 1.1× profit, roughly in line with earnings. The largest differences: depreciation & amortization +$181M, stock-based pay +$8.6M, gains on investments +$1.1M.

Free cash flow

Vulcan Materials: free cash flow by quarterVulcan Materials: free cash flow by quarter$278MQ4 2024$83.5MQ1 2025$239MQ2 2025$455MQ3 2025$358MQ4 2025$64.6MQ1 2026$150MQ2 2026$209MQ3 2026
Operating cash flow less capital spending.
Vulcan Materials: operating cash flow against capital spendingVulcan Materials: operating cash flow against capital spendingOperating cash flowCapital spending$440M$162MQ4 2024$252M$168MQ1 2025$342M$103MQ2 2025$677M$222MQ3 2025$543M$185MQ4 2025$241M$176MQ1 2026$344M$194MQ2 2026$386M$178MQ3 2026
Latest (Q3 2026): Operating cash flow $386M, Capital spending $178M.

Capital allocation, year by year

Vulcan Materials: where the cash came from (up) and went (down), by fiscal yearVulcan Materials: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.0BFY2021: Net borrowing $135MFY2021: Asset sales $216MFY2021: Capital spending −$451MFY2021: Acquisitions −$1.6BFY2021: Dividends −$196M$1.4BFY2021FY2022: Operating cash flow $1.1BFY2022: Net borrowing $58.5MFY2022: Asset sales $88.7MFY2022: Capital spending −$613MFY2022: Acquisitions −$529MFY2022: Dividends −$213M$1.3BFY2022FY2023: Operating cash flow $1.5BFY2023: Net borrowing −$131MFY2023: Asset sales $708MFY2023: Capital spending −$873MFY2023: Acquisitions $900KFY2023: Buybacks −$200MFY2023: Dividends −$228M$2.2BFY2023FY2024: Operating cash flow $1.4BFY2024: Net borrowing $1.4BFY2024: Asset sales $54.9MFY2024: Capital spending −$604MFY2024: Acquisitions −$2.3BFY2024: Buybacks −$68.8MFY2024: Dividends −$244M$2.9BFY2024FY2025: Operating cash flow $1.8BFY2025: Net borrowing −$961MFY2025: Asset sales $152MFY2025: Capital spending −$678MFY2025: Acquisitions −$13.5MFY2025: Buybacks −$438MFY2025: Dividends −$260M$2.0BFY2025
Over these 5 years operating cash flow totalled $6.9B; the largest uses were acquisitions ($4.4B) and capital spending ($3.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$107M
Debt$4.7B
Net debt$4.6B
Due within a year$400K

Vulcan Materials funds itself: free cash flow was $781M over the last twelve months, and $107M of cash and investments stands against $4.7B of debt ($400K due within a year, 266.5× covered by cash).

Vulcan Materials: debt maturities by year (FY2025)Vulcan Materials: debt maturities by year (FY2025)$400KYear 1$400MYear 2$500MYear 4$750MYear 5
Principal due in each year as disclosed in the annual report, against $107M of cash and investments now.

Where the cash came from and went

Vulcan Materials: sources (+) and uses (−) of cash, Q3 2026Vulcan Materials: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$386MBuybacks−$350MOther financing$315MAcquisitions−$216MCapital spending−$178MCash drawn (+) / kept (−)$116MDividends−$66.9MTaxes on employees’ shares−$10.1MOther investing$2.4MAsset & business sales$1.4MNet borrowing (+) / repaid (−)−$1.2M
Vulcan Materials: sources (+) and uses (−) of cash, TTM to Q3 2026Vulcan Materials: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.5BBuybacks−$1.2BCapital spending−$733MAsset & business sales$701MAcquisitions−$296MDividends−$267MNet borrowing (+) / repaid (−)$256MTaxes on employees’ shares−$51.9MCash drawn (+) / kept (−)$22.8MOther investing$4.4MPartners−$1.4M

From profit to cash

Vulcan Materials: net income to operating cash flow, Q3 2026Vulcan Materials: net income to operating cash flow, Q3 2026Net income$363MDepreciation & amortization$181MStock-based pay$8.6MGains on investments$1.1MGains on disposals−$200KOther non-cash$400KOperating cash flow$386M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$386M−$178M−$216M−$350M−$66.9M−$1.2M$116M$209M
Q2 2026$344M−$194M−$75.0M−$250M−$67.5M−$1.5M−$145M$150M
Q1 2026$241M−$176M—−$150M−$67.9M$143M$45.7M$64.6M
Q4 2025$543M−$185M−$5.0M−$400M−$64.4M−$2.4M$5.8M$358M
Q3 2025$677M−$222M−$3.3M—−$64.7M−$553M$156M$455M
Q2 2025$342M−$103M−$9.9M—−$64.7M−$2.9M−$158M$239M
Q1 2025$252M−$168M$4.7M−$38.1M−$66.0M−$403M$408M$83.5M
Q4 2024$440M−$162M−$2.1B—−$60.8M$2.0B−$166M$278M

Vulcan Materials: income statement and cash flow

Vulcan Materials, Q3 2026: revenue $2.2B (-5% year over year), operating margin 24.0%. The chart follows the revenue to costs, profit and cash.

Vulcan Materials: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.