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Summit Materials Inkomsten in het verleden
Verleden criteriumcontroles 1/6
Summit Materials heeft de winst zien groeien met een gemiddeld jaarlijks percentage van 23.8%, terwijl de Basic Materials-industrie de winst zag groeien met 13.7% per jaar. De inkomsten zijn gegroeid met een gemiddeld jaarlijks percentage van 7.6%. Het rendement op eigen vermogen van Summit Materials is 3.3%, en het heeft een nettomarge van 3.9%.
Belangrijke informatie
23.83%
Groei van de winst
21.09%
Groei van de winst per aandeel
| Basic Materials Groei van de industrie | 19.98% |
| Inkomstengroei | 7.57% |
| Rendement op eigen vermogen | 3.31% |
| Nettomarge | 3.93% |
| Laatste winstupdate | 28 Sep 2024 |
Recente prestatie-updates uit het verleden
Recent updates
Seeking Alpha • Sep 27
Summit Materials: Good Growth Prospects Should Drive Further Upside
Summary Summit Materials, Inc. has strong growth prospects driven by price increases, easing volume comparisons, and robust demand in public infrastructure and manufacturing sectors. Margins are expected to improve due to cost synergies from acquisitions, moderating inflation, and productivity gains despite recent weather-related volume declines. The stock is trading at a discount to its historical averages, with potential for P/E multiple re-rating and high double-digit EPS growth in the coming years. Read the full article on Seeking Alpha
Nieuw narratief • Aug 28
Critical Moves And Synergies Set To Spur Revenue Growth And Margin Expansion
Summit Materials' focus on excellence in commercial operations and strategic acquisitions aims to improve its market position and financial performance.Seeking Alpha • Jul 02
Summit Materials: Still Cheap, Still Worth An Optimistic View
Summary Now that the dust has settled following Summit Materials' acquisition of Argos USA, the company makes for an interesting prospect. The company is now the fourth-largest cement producer and sixth-largest aggregates producer in the US. Despite recent losses, Summit Materials is expected to see improved profitability and growth with strong catalysts in the construction industry. Read the full article on Seeking AlphaSeeking Alpha • Apr 17
Summit Materials: Diversified But Lacking Upside
Summary SUM’s revenue has grown well (CAGR: +8%), driven by M&A, asset acquisitions, and infrastructure spending fueling commodity prices. The company is heavily diversified, with the production of a range of commodities, limiting its exposure to particular markets and price movements. Management’s strategy could deliver margin improvement in the coming years, albeit exposure to asset prices and global demand could be impacted by China. SUM is not performing overly well relative to its peers, with lower margins and growth. We do not believe SUM is attractively priced, with a low FCF yield and near-term downside risk due to declining asset prices and negative volume growth. Read the full article on Seeking AlphaSeeking Alpha • Nov 26
Summit Materials: A Good Buy At Current Levels
Summary Summit Materials has good growth prospects with revenue growth expected from price increases and positive demand trends in non-residential and infrastructure markets. The company's revenue increased by 8.2% YoY in Q3 2023, supported by price increases and strong demand in non-residential and infrastructure sectors. The upcoming acquisition of Argos USA is expected to diversify and expand the company's operations, contributing to revenue and margin growth. Read the full article on Seeking AlphaSeeking Alpha • Sep 10
Summit Materials: Cementing Its Position
Summary Shares of Summit Materials plummeted after announcing a significant acquisition/merger deal with the North American business of Argos. The deal is valued at 10 times EBITDA and includes the issuance of nearly 55 million shares, resulting in a $3.2 billion enterprise valuation. Despite the potential for synergies, investors are not optimistic due to high earnings multiples and a non-impressive track record. Read the full article on Seeking AlphaSeeking Alpha • Jul 09
Summit Materials: Good Medium To Long-Term Growth Prospects
Summary Summit Materials Inc's revenue growth is expected to benefit from price increases and strong demand in non-residential and public infrastructure markets, offsetting a decline in residential volume. The company has managed to offset inflation and supply chain issues through price increases, and its long-term outlook is favorable due to improving business portfolio mix and cost-saving measures. Valuation is reasonable. Read the full article on Seeking AlphaSeeking Alpha • Feb 15
Summit Materials Non-GAAP EPS of $0.32 beats by $0.02, revenue of $552.27M misses by $14.89M
Summit Materials press release (NYSE:SUM): Q4 Non-GAAP EPS of $0.32 beats by $0.02. Revenue of $552.27M (-7.4% Y/Y) misses by $14.89M. For the full year 2023, Summit is currently projecting Adjusted EBITDA of approximately $480 million to $520 million and expects 2023 capital expenditures of approximately $220 million to $240 million including greenfield projects.Seeking Alpha • Dec 12
Summit Materials: Good Growth Prospects At A Discount Valuation
Summary The Elevate Summit Strategy should benefit Summit Materials by improving its margin through portfolio optimization, commercial and operational excellence, and M&As. The company’s revenue should benefit from the pricing actions, M&As, and healthy demand in the public and non-residential end markets. The stock is trading at a lower valuation than its peers, Martin Marietta Materials and Vulcan Materials. Investment Thesis Summit Materials’ (SUM) revenue should benefit from the pricing actions, M&As, and healthy demand in the public and non-residential end markets. The margins should improve through business portfolio optimization and pricing actions. The company launched its Elevate Summit Strategy to drive growth, create shareholder value, and improve the quality and consistency of earnings. Under this strategy, the company is divesting low-margin businesses and focusing on acquiring high-margin businesses. Through the implementation of this strategy, it is targeting a 30% adjusted EBITDA margin in the long term. The stock is attractively valued, and given its good long-term prospects, I have a buy rating on it. The Elevate Summit Strategy The company introduced its Elevate Summit strategy in March 2021 to drive growth, create value for its shareholders, and improve the quality and consistency of earnings. Through this strategy, the company plans to achieve a 30% adjusted EBITDA margin, which should be achieved in multiple stages (which the company calls "horizons"). Under each stage or horizon, the company has set target adjusted EBITDA margin ranges, ROIC, and leverage. The leverage target is <3x and is common under each horizon. In Horizon 1, which is now substantially complete, the company worked on improving its business efficiency through smart standardization and by cultivating a culture of commercial and operational excellence. It also divested its dilutive businesses, like some of the downstream businesses, to boost margins and free up capital for growth. For Horizon 1, the company’s adjusted EBITDA margin target range is 23% to 25%, and the ROIC target is 9%. In Horizon 2, the company plans to explore creative business models to reduce downstream capital investment and maximize aggregates pull-through. It also plans to reduce volatility by pursuing long-term contracts and supply agreements. The company plans to do M&As to enter prioritized markets. The three criteria for an M&A are: bridging the portfolio mix, focusing on bolt-ons, and entering or building strong footholds in high-growth strategic markets. For Horizon 2, the company’s adjusted EBITDA margin target range is 25% to 28%, and the ROIC target is 10%. In Horizon 3, the company should start to realize and sustain consistent growth, as by then, it will have standardized processes, operational excellence, and competency in innovation and differentiated solutions. In this stage, it plans to boost margins and reinforce growth in new markets through innovative offerings and solutions with differentiated value. For Horizon 3, the company’s adjusted EBITDA margin target range is 28% to 30%, and the ROIC target is >10%. The company has made good progress on its Horizon 1 initiatives so far. Since the launch of this initiative, the company divested 11 companies related to the downstream business, generated more than $500 mn in proceeds, and entered into eight long-term supply agreements. It also achieved net debt to adjusted EBITDA leverage of 2.3x in Q3 FY22, which is well below its target level of 3x. The company has now entered Horizon 2 and plans to focus on value-creating M&As and continue its divestiture process from Horizon 1. In addition to the company-level targets in the Elevate Summit strategy, management has also introduced segment-level objectives in its businesses, which it calls North Star objectives. The company introduced these objectives on May 2022, Investor Day. The first North Star objective is to achieve a sustainable 40%+ LTM (Last Twelve Months) adjusted EBITDA margin in the cement business. The company plans to do it through a customer-centric approach, driving operational excellence and maximizing the entire value chain. The value creation projects include the Davenport Dome in Iowa, the conversion to lower-emitting Portland Limestone Cement ((PLC)), and improving the Cement grinding performance. The Davenport Dome should help reduce demurrage costs and provide supply to its Northern customers. The second North Star objective is to reach a 50% adjusted cash gross profit margin in the aggregates business. Management plans to achieve it through commercial and operational excellence. Commercial excellence includes leveraging technology and data to enhance the customer experience, delivering sustainable customer solutions, and continuously investing in sales capabilities, whereas Operational excellence includes standardization and simplification of business processes. The third North Star objective focuses on shifting the business portfolio towards more materials-led, which is a higher margin business. The target is to generate 75% of its EBITDA from aggregates and cement by the end of Horizon 2. The company’s commitment to shifting its portfolio to a materials-led business can be seen in its recent actions. The company recently sold its asphalt and paving business in the East segment to a local market partner and entered into a long-term supply agreement with the buyer for aggregates and ready-mix volumes. This allows SUM to grow in the southeastern Kansas market through an asset-light approach. Further, in October, it acquired SCI Materials, an aggregates business in Florida. SCI will integrate with SUM’s Georgia Stone Products business and contribute to the East segment. Revenue growth prospects In Q3 FY22, the company saw double-digit Y/Y pricing growth in all lines of business. The average selling price of aggregates, cement, ready-mix, and asphalt increased by 10.2% Y/Y, 12.8% Y/Y, 17.5% Y/Y, and 19.3% Y/Y. This was driven by the pricing momentum from the previous quarter and, in part, by the July 1 price increase. The volumes in the aggregates line of business were down 9% Y/Y, driven by the impact of divestitures (620 bps), unfavorable weather in Texas and the Carolinas, and supply chain issues, partially offset by 70 bps benefit from the SCI acquisition. The ready-mix business’s volume declined 12.1% Y/Y due to the impact of divestitures under the Elevate Summit strategy of 10.8% and cement shortages in Utah, partially offset by a low single-digit volume increase in Houston due to the resilient residential demand. In Q3 FY22, the net revenue in the West segment was up 16.6% Y/Y driven by robust pricing across all lines of businesses and end markets, partially offset by volume declines in aggregates and ready-mix. In the East segment, net revenue declined 25.8% Y/Y due to divestitures, wet weather conditions, and supply chain challenges, partially offset by pricing increases in aggregates and ready-mix. The Cement segment is experiencing strong demand conditions, leading to 29.6% Y/Y net revenue growth in the quarter. The volume and pricing increased 12.4% Y/Y and 12.8% Y/Y. The volume growth was due to the increased capacity from the PLC conversion, better asset utilization, and supplementing some of its production with imports to satisfy the demand level. Imports contributed 5% of the cement volume in the quarter. Looking forward, the strong pricing trends in the aggregates business should help the company exit 2022 with strong pricing momentum. The backdrop for cement pricing is also favorable as demand remains strong, supply remains tight, and imports are expensive. The company has locked in 2023 cement prices at higher rates with its partners and announced a $17 per ton cement price increase effective January 1, 2023. Furthermore, SUM intends to raise prices in its downstream business. The downstream business' pricing is more pass-through in nature, and the Y/Y growth in pricing should reflect passing the higher input costs through the value chain. One thing which I believe may pose some risk for revenue is the drought conditions in the Mississippi river basin. The company has two cement plants, one in Davenport, Iowa, and one in Hannibal, Missouri. It has a river-based distribution network for its Cement business and uses a barge to get its product into the market. However, the drought conditions from the plains to the Mississippi river basin are resulting in low river levels and are impacting the barge traffic along the Mississippi river. The company is working proactively with its customers to manage expectations and is not yet seeing any slowdown, but it is not immune to these conditions. If drought conditions continue, the company’s cement volume can be impacted, affecting revenue. However, this is a near-term headwind and should not sustain in the medium term. The company’s medium-to-long-term prospects look strong. In 2023, the public end market is poised to experience robust growth given the well-funded state budgets and the funding from the U.S. Infrastructure Investment and Jobs Act (IIJA). The public end market contributes ~36% to the annual net revenue of the company. The solid Department of Transportation (DOT) budgets have begun to flow through contract awards for highway projects and paving awards. The non-residential end market, which contributes 32% to the annual net revenue, is supported by investments such as semiconductor manufacturing plants, electric vehicle and battery plants, LNG projects, and other projects. The Dodge Momentum Index and the Architectural Billing Index ((ABI)) are showing healthy signs of growth for the non-residential market. The growth in both non-residential and public end markets should offset the slowdown in the residential market which contributes ~32% to the annual net revenue of the company.Opbrengsten en kosten
Opbrengsten en kosten
Hoe Summit Materials geld verdient en uitgeeft. Gebaseerd op laatst gerapporteerde winst, op LTM-basis.
Inkomsten en omzetgeschiedenis
| Datum | Inkomsten | Inkomsten | G+A Uitgaven | R&D-uitgaven |
|---|---|---|---|---|
| 28 Sep 24 | 3,755 | 147 | 291 | 0 |
| 29 Jun 24 | 3,378 | 272 | 263 | 0 |
| 30 Mar 24 | 2,989 | 250 | 233 | 0 |
| 30 Dec 23 | 2,619 | 286 | 210 | 0 |
| 30 Sep 23 | 2,512 | 313 | 201 | 0 |
| 01 Jul 23 | 2,470 | 169 | 187 | 0 |
| 01 Apr 23 | 2,427 | 276 | 181 | 0 |
| 31 Dec 22 | 2,413 | 272 | 187 | 0 |
| 01 Oct 22 | 2,457 | 286 | 187 | 0 |
| 02 Jul 22 | 2,421 | 274 | 197 | 0 |
| 02 Apr 22 | 2,403 | 140 | 197 | 0 |
| 01 Jan 22 | 2,410 | 152 | 193 | 0 |
| 02 Oct 21 | 2,438 | 143 | 197 | 0 |
| 03 Jul 21 | 2,430 | 160 | 201 | 0 |
| 03 Apr 21 | 2,393 | 159 | 193 | 0 |
| 02 Jan 21 | 2,332 | 138 | 183 | 0 |
| 26 Sep 20 | 2,264 | 138 | 217 | 0 |
| 27 Jun 20 | 2,287 | 103 | 229 | 0 |
| 28 Mar 20 | 2,257 | 85 | 250 | 0 |
| 28 Dec 19 | 2,222 | 59 | 156 | 0 |
| 28 Sep 19 | 2,157 | 4 | 254 | 0 |
| 29 Jun 19 | 2,119 | 20 | 251 | 0 |
| 30 Mar 19 | 2,119 | 19 | 251 | 0 |
| 29 Dec 18 | 2,101 | 34 | 270 | 0 |
| 29 Sep 18 | 2,100 | 96 | 258 | 0 |
| 30 Jun 18 | 2,040 | 106 | 258 | 0 |
| 31 Mar 18 | 1,963 | 121 | 254 | 0 |
| 30 Dec 17 | 1,933 | 122 | 243 | 0 |
| 30 Sep 17 | 1,866 | 79 | 234 | 0 |
| 01 Jul 17 | 1,761 | 42 | 239 | 0 |
| 01 Apr 17 | 1,682 | 5 | 257 | 0 |
| 31 Dec 16 | 1,626 | 37 | 244 | 0 |
| 01 Oct 16 | 1,605 | 59 | 199 | 0 |
| 02 Jul 16 | 1,547 | 29 | 192 | 0 |
| 02 Apr 16 | 1,467 | 14 | 156 | 0 |
| 02 Jan 16 | 1,432 | 25 | 163 | 0 |
| 26 Sep 15 | 1,365 | -5 | 194 | 0 |
| 27 Jun 15 | 1,288 | -20 | 173 | 0 |
| 28 Mar 15 | 1,247 | -19 | 154 | 0 |
| 27 Dec 14 | 1,204 | -9 | 151 | 0 |
| 27 Sep 14 | 1,108 | -73 | 141 | 0 |
| 28 Jun 14 | 1,030 | -52 | 139 | 0 |
| 29 Mar 14 | 886 | -79 | 141 | 0 |
Kwaliteitswinsten: SUM heeft een grote eenmalige winst van $93.5M wat gevolgen heeft voor de financiële resultaten van de laatste 12 maanden tot 28th September, 2024.
Groeiende winstmarge: De huidige netto winstmarges (3.9%) SUM } zijn lager dan vorig jaar (12.3%).
Analyse vrije kasstroom versus winst
Analyse van de winstgroei in het verleden
Winsttrend: De winst van SUM is de afgelopen 5 jaar aanzienlijk gegroeid met 23.8% per jaar.
Versnelling van de groei: De winstgroei SUM is het afgelopen jaar negatief geweest en kan daarom niet worden vergeleken met het 5-jarig gemiddelde.
Winst versus industrie: SUM had het afgelopen jaar een negatieve winstgroei ( -52.4% ), waardoor het moeilijk is om te vergelijken met het branchegemiddelde Basic Materials ( 9.7% ).
Rendement op eigen vermogen
Hoge ROE: Het Rendement op eigen vermogen ( 3.3% ) van SUM wordt als laag beschouwd.
Rendement op activa
Rendement op geïnvesteerd vermogen
Ontdek sterk presterende bedrijven uit het verleden
Bedrijfsanalyse en status van financiële gegevens
| Gegevens | Laatst bijgewerkt (UTC-tijd) |
|---|---|
| Bedrijfsanalyse | 2025/02/11 15:18 |
| Aandelenkoers aan het einde van de dag | 2025/02/10 00:00 |
| Inkomsten | 2024/09/28 |
| Jaarlijkse inkomsten | 2023/12/30 |
Gegevensbronnen
De gegevens die gebruikt zijn in onze bedrijfsanalyse zijn afkomstig van S&P Global Market Intelligence LLC. De volgende gegevens worden gebruikt in ons analysemodel om dit rapport te genereren. De gegevens zijn genormaliseerd, waardoor er een vertraging kan optreden voordat de bron beschikbaar is.
| Pakket | Gegevens | Tijdframe | Voorbeeld Amerikaanse bron * |
|---|---|---|---|
| Financiële gegevens bedrijf | 10 jaar |
| |
| Consensus schattingen analisten | +3 jaar |
|
|
| Marktprijzen | 30 jaar |
| |
| Eigendom | 10 jaar |
| |
| Beheer | 10 jaar |
| |
| Belangrijkste ontwikkelingen | 10 jaar |
|
* Voorbeeld voor effecten uit de VS, voor niet-Amerikaanse effecten worden gelijkwaardige formulieren en bronnen gebruikt.
Tenzij anders vermeld zijn alle financiële gegevens gebaseerd op een jaarperiode, maar worden ze elk kwartaal bijgewerkt. Dit staat bekend als Trailing Twelve Month (TTM) of Last Twelve Month (LTM) gegevens. Meer informatie.
Analysemodel en Snowflake
Details van het analysemodel dat is gebruikt om dit rapport te genereren zijn beschikbaar op onze Github-pagina. We hebben ook handleidingen over hoe je onze rapporten kunt gebruiken en tutorials op YouTube.
Leer meer over het team van wereldklasse dat het Simply Wall St-analysemodel heeft ontworpen en gebouwd.
Industrie en sector
Onze industrie- en sectormetrics worden elke 6 uur berekend door Simply Wall St, details van ons proces zijn beschikbaar op Github.
Bronnen van analisten
Summit Materials, Inc. wordt gevolgd door 9 analisten. 9 van deze analisten hebben de schattingen van de omzet of winst ingediend die zijn gebruikt als input voor ons rapport. Inzendingen van analisten worden de hele dag door bijgewerkt.
| Analist | Instelling |
|---|---|
| Daniel Wang | Berenberg |
| Paul Roger | BNP Paribas |
| Paul Luther | BofA Global Research |