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Vulcan Materials earnings quality score

How much of the reported profit is backed by cash, and how many markers of managed earnings the filings show

Score79 / 100 · grade B · rank 70 of 1027

Vulcan Materials (VMC) scores 79 of 100 for earnings quality, grade B: rank 70 of 1027 companies and 11 of 82 in materials. It loses the most points on accruals of -4.4% of assets, lower than 53% of companies (profit backed by cash), Montier C-score 1 of 5 checks failed. It earns full or near-full marks for Piotroski F-score 8 of 9, discretionary accruals of +0.4% of assets (modified Jones), smaller than most, adjusted earnings 2% below GAAP.

What earned and lost points

ComponentWhat the filings showPointsOf
Accrualsaccruals of -4.4% of assets, lower than 53% of companies (profit backed by cash)1529
Montier C-scoreMontier C-score 1 of 5 checks failed1721
Discretionary accrualsdiscretionary accruals of +0.4% of assets (modified Jones), smaller than most1314
Piotroski F-scorePiotroski F-score 8 of 91314
Non-GAAP gapadjusted earnings 2% below GAAP1314
Earnings smoothnessprofit about as variable as cash flow (smoothness 0.73)77
VMC: share of the available points, by componentVMC: share of the available points, by componentAccruals53%Discretionary accruals93%Montier C-score80%Piotroski F-score89%Non-GAAP gap94%Earnings smoothness100%

How the score is built

Eight published measures, each scored against the whole universe or on its own scale and weighted: accruals 20, discretionary accruals 10, Beneish M 15, Dechow F 15, Montier C 15, Piotroski F 10, the non-GAAP gap 10, smoothness 5. A measure that cannot be computed (Beneish for a bank, say) drops out and the rest is rescaled, so every company is scored on what applies to it.

Every company ranked → The full quality workbench, live → Vulcan Materials: cash flow →

Computed from the companies’ own XBRL filings (latest fiscal year) by published formulas; a statistical screen, not an audit or an accusation. A low score means the reported profit shows more of the markers of managed or low-quality earnings than its peers. Not investment advice.