Quality Investor

Valmont Industries, Inc.

Rank #167Hypergrowth

VMI · NYSE · Industrials

Valmont Industries, Inc. (VMI) — Rank #167 by gross profitability (GP/assets 0.36) · ROE 20.3% · Piotroski F-Score 7 / 9.

As-of 2026-09-15 · CIK 0000102729 · all metrics point-in-time as of the filing date.

About

Valmont Industries, Inc. operates as a manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally.

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The company operates in two segments, Infrastructure and Agriculture. It manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications. The company also offers galvanizing and painting, and powder coating services for paint products; towers, small cell structures, camouflage concealment solutions, passive intermodulation mitigation equipment, and components for wireless communication markets; and solar single-axis tracker product, an integrated system of steel structures, electric motors, and electronic controllers, as well as provides coatings services to protect metal products. In addition, it manufactures center pivot components and linear irrigation equipment for the agricultural markets, such as parts and tubular products for industrial customers; advanced technology solutions for agricultural sector; mechanical irrigation equipment and service parts under the Valley brand name. Valmont Industries, Inc.

was founded in 1946 and is headquartered in Omaha, Nebraska.

Industry
Conglomerates
Sector
Industrials
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 26

Price History

VMI+105.9% · +15.5% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$9.15B

P/E (annual)

28.1

P/S (annual)

2.2

P/B

5.3

P/OCF (annual)

20.0

Shareholder Yield

25.5%

Employees

10,791

Industry

Conglomerates

Exchange

NYSE

Signal Flags

3 green1 yellow
Revenue growth acceleratingGrowth rate increasing year over year
Operating leverage expandingOperating income growing faster than revenue
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

1/1 pass
GP / assets
0.36
Return on equity
20.3%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.00
Current ratio
2.35×
Net cash
-$591.63M

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue
0.6%

Growth

2/2 pass
Revenue growth
48.3%
Piotroski F-Score
7 / 9
Share dilution
-24.9%

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)

13.3%

incredible deal

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

Buyback tailwind: -24.9% — per-share value needs a total required return of -11.6% once share-count change is priced in.

vs. own 6-year median revenue growth: 36.2%

within its own history

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

r = 8%

8.7%

r = 10% (base)

13.3%

r = 12%

17.3%

Net debt / market cap: 6.3%

Base FCF: $311.4M3Y mean FCF: $77.7M

Valuation History

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

P / E

Price / diluted EPS

N/A
12.9xmed 23.1x36.2x

P / S

Price / revenue per share

N/A
1.0xmed 1.3x1.8x

P / B

Price / book value per share

N/A
2.4xmed 3.1x4.3x

P / GP

Price / gross profit per share

N/A
3.8xmed 5.1x6.7x

P / FCF

Price / free cash flow per share

N/A
9.6xmed 31.6x44.3x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.36

Primary signal (Novy-Marx).

4th of 15 SIC 34 peers

Return on equity

20.3%

Gross margin

30.2%

12th of 15 SIC 34 peers

Revenue growth (YoY)

48.3%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2011201220212022
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

Revenue CAGR (5Y)

Earnings CAGR (3Y)

11.8%

FCF CAGR (3Y)

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.00

10th of 15 SIC 34 peers (best = lowest)

Current ratio

2.35×

9th of 15 SIC 34 peers

Quick ratio

1.04×

Net cash

-$591.63M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$311.45M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.11

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.6%

Stock-based comp intensity.

Dividend safety

Composite score

3.0 / 5

Good
Payout ratio
15.0%5/5 Strong
FCF coverage
5.93×5/5 Strong
Dividend growth streak
1 yr1/5 Weak
Balance-sheet health
D/E 1.00 · IC N/A1/5 Weak

Piotroski F-Score

F-Score

7 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20092022
Hypergrowth
Capital Return
Op. Leverage