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Astec Industries, Inc.

Rank #260Capital Return

ASTE · Nasdaq · Industrials

Astec Industries, Inc. (ASTE) — Rank #260 by gross profitability (GP/assets 0.26) · ROE 5.6% · Piotroski F-Score 5 / 9.

As-of 2026-09-15 · CIK 0000792987 · all metrics point-in-time as of the filing date.

About

Astec Industries, Inc. designs, engineers, manufactures, markets, and services equipment and components used primarily in road building and related construction activities worldwide.

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The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants, cold central plant recycles systems, and soil remediation plants; concrete batch plants, liquid asphalt terminals, and thermal fluid heaters; asphalt pavers, material transfer vehicles, and milling machines; and industrial automation controls and telematics platforms, as well as engineering and environmental permitting, various plants components, polymer plants, heat recovery units, industrial and asphalt burners and systems, wood chippers and grinders, and blower trucks and trailers,. The Materials Solutions segment offers jaw, cone, heavy-duty, and mining-application crushers; horizontal and vertical shaft impactors; incline, multi-frequency and high frequency, horizontal, and dewatering screens; washing and classifying plants, fines recovery systems, and water clarification systems; radial and telescoping conveyors, pugmills, truck unloaders, hopper feeders ship loaders and unloaders, and bulk receptions feeders; and Rock breaker systems, hydraulic breakers, compactors, and pulverizers. It provides its products to asphalt or concrete producers; highway and heavy equipment contractors; utility contractors; sand and gravel producers; construction, demolition, recycle and crushing contractors; forestry and environmental recycling contractors; mine and quarry operators; port and inland terminal authorities; power stations; and domestic and foreign government agencies.

The company was incorporated in 1972 and is headquartered in Chattanooga, Tennessee.

Industry
Farm & Heavy Construction Machinery
Sector
Industrials
State
TN
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

ASTE-26.3% · -5.9% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$935.64M

P/E (annual)

24.2

P/S (annual)

0.7

P/B

1.4

P/OCF (annual)

15.2

Shareholder Yield

0.2%

Employees

4,468

Industry

Farm & Heavy Construction Machinery

Exchange

Nasdaq

Signal Flags

4 green1 red
Revenue growth acceleratingGrowth rate increasing year over year
Operating leverage expandingOperating income growing faster than revenue
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak
Balance sheet deterioratingNet cash collapsed with receivables or inventory outpacing revenue

Quality Profile

Profitability

1/1 pass
GP / assets
0.26
Return on equity
5.6%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.05
Current ratio
2.52×
Net cash
-$291.70M

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue
0.5%

Growth

2/2 pass
Revenue growth
8.1%
Piotroski F-Score
5 / 9
Share dilution
1.1%

Terry Smith quality gate

Passes 0/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

18.9%

fairly valued

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 1.1% — per-share value needs a total required return of 19.9% once share-count change is priced in.

vs. own 6-year median revenue growth: 6.1%

priced above its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

13.9%

r = 10% (base)

18.9%

r = 12%

23.1%

Net debt / market cap: 31.1%— material leverage inflates the implied growth read.

Base FCF: $20.7M3Y mean FCF: $5.6M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

36.5xFair
16.5xmed 32.2x186.8x

P / S

Price / revenue per share

1.0xExpensive
0.6xmed 0.8x1.6x

P / B

Price / book value per share

2.1xExpensive
1.1xmed 1.5x2.6x

P / GP

Price / gross profit per share

3.8xFair
2.5xmed 3.8x6.9x

P / FCF

Price / free cash flow per share

68.4xExpensive
7.3xmed 27.4x324.4x

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.26

Primary signal (Novy-Marx).

57th pctl of 36 SIC 35 peers

Return on equity

5.6%

Gross margin

26.5%

9th pctl of 36 SIC 35 peers

Revenue growth (YoY)

8.1%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

3.4%

Revenue CAGR (5Y)

6.6%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.05

31st pctl of 36 SIC 35 peers (best = lowest)

Current ratio

2.52×

74th pctl of 36 SIC 35 peers

Quick ratio

0.92×

Net cash

-$291.70M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$20.70M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.47

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.5%

Stock-based comp intensity.

Dividend safety

Composite score

2.0 / 5

Fair
Payout ratio
30.7%4/5 Strong
FCF coverage
1.74×3/5 Good
Dividend growth streak
0 yr0/5 Weak
Balance-sheet health
D/E 1.05 · IC N/A1/5 Weak

Piotroski F-Score

F-Score

5 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20202025
Value
Capital Return
Startup
View full financial statements →