Eagle Materials Inc. (EXP) Stock

Eagle Materials Inc. (EXP) is a Materials stock trading at $194.69 (as of 2026-09-02), with a market capitalization of $5.97B and a trailing P/E of 14.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Eagle Materials Inc. and its subsidiaries produce and supply construction materials, including Portland cement and related products, ready-mix concrete, aggregates, gypsum wallboard, and recycled paperboard. It operates through Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard segments, serving customers involved in commercial and residential construction and public infrastructure projects.

Understand Eagle Materials Inc.: how it makes money

Eagle Materials produces cement, gypsum wallboard, concrete, and recycled paperboard in the western and central U.S., selling to general contractors and developers. Cement and heavy building products drive most revenue, and because freight makes long-haul shipping uneconomical, each region is its own market tied to local infrastructure and housing demand.

Cement and wallboard cannot be shipped far profitably, so each kiln and plant is a fiefdom; local infrastructure or housing demand, not national averages, sets the revenue cycle for that area.

Revenue by segment (latest quarter)
Cement$0.3B
Concrete & Aggregates$0.1B
Light Materials (Wallboard & Paperboard)$0.2B

Business quality (Mixed): Regionally trapped and cyclical, but the infrastructure tailwind adds a less-price-sensitive revenue layer the pure housing names do not have.

Valuation: At 13× earnings, EXP trades 44% below the Construction Materials average (24×). Note: the low multiple may reflect one-time earnings items.

Bull case

  • Data-center demand is scaling: Management reported data-center bidding doubled year over year across the network, a use case tied to long-duration tech capex rather than the volatile residential cycle.
  • 44% discount to industry peers: The stock trades at a 13.4x P/E versus the 24x Construction Materials industry average, pricing in meaningful cyclicality risk but leaving valuation room if infrastructure volumes sustain through the year.

Bear case

  • Housing capex stays suppressed: Management noted housing remains at trough-level activity with no near-term mortgage-rate catalyst, directly capping demand for gypsum wallboard and light building materials that represent 29% of revenue.
  • Freight inflation is eating price gains: Elevated freight costs more than offset cement gross-price increases this quarter, meaning volume growth does not cleanly flow through to operating margin until logistics costs normalize.
Valuation — source: SEC EDGAR (first-party)
Price$194.69
Market Cap$5.97B
P/E Ratio14.8
EV / EBITDA9.9
Price / Book4.02
Price / Sales2.57
FCF Yield3.3%
DCF Value (model)$175.05
DCF Upside vs Price-10.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.31B
Net Margin18.4%
Revenue Growth (YoY)2.6%
EPS Growth (YoY)-12.7%
FCF Growth (YoY)-44.5%
Financial Health — source: SEC EDGAR
Altman Z-Score3.32 (safe)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Stock P/E14.8
Sector P/E (Materials)23.9
Industry P/E (Construction Materials)20.2
vs Sector-37.9%
vs Industry-26.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderFMR LLC ($690.46M)
Institutional Holders Tracked10
Congressional Trades (recent)2
Company
SectorMaterials
IndustryConstruction Materials
CEOMichael R. Haack
Employees2,500
CountryUS
IPO Date1994-04-12

Eagle Materials Inc. earnings call transcripts

  • EXP Q1 FY27 earnings call transcript (reported 2026-07-29) · analysis
  • EXP Q4 FY26 earnings call transcript (reported 2026-05-19) · analysis
  • EXP Q3 FY26 earnings call transcript (reported 2026-01-29) · analysis
  • EXP Q1 FY26 earnings call transcript (reported 2025-07-29) · analysis

All EXP earnings calls

Related Companies (Construction Materials; 8 comparable building products companies)

  • Alpha Metallurgical Resources, Inc. (AMR)
  • Century Aluminum Company (CENX)
  • Valhi, Inc. (VHI)
  • Minerals Technologies Inc. (MTX)
  • Coeur Mining, Inc. (CDE)
  • Kronos Worldwide, Inc. (KRO)
  • Tronox Holdings plc (TROX)
  • Quanex Building Products Corporation (NX)
EXP earnings history · EXP institutional & insider holders · EXP KPIs & operating metrics · EXP financials · EXP investor presentations & press releases · EXP SEC filings · EXP peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.