Start here if you're new
what it is
Valmont sells the steel skeletons behind power grids, cell networks, roads, farms, and industrial tubing.
how it gets paid
Last year Valmont Inds made $4.1B in revenue.
why it's growing
Revenue grew 0.7% last year. The 193% revenue jump matters most because it shows how violently project timing can swing this business when large infrastructure orders land.
what just happened
Valmont posted $3.1B in quarterly revenue and crushed EPS expectations.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
80/100 earnings predictability — you can trust these numbers
21.7x trailing p/e — priced about right
0.7% dividend yield — cash in your pocket every quarter
16.0% return on capital — nothing to write home about
xvary composite: 61/100 — average
What they do
Valmont sells the steel skeletons behind power grids, cell networks, roads, farms, and industrial tubing.
Valmont wins by selling hardware you cannot postpone for long. If your utility needs a replacement pole or your farm needs irrigation, waiting is expensive fast. That urgency helps it hold a 16.0% operating margin and 22% return on equity, which means pricing power → charging more than costs rise → your profits stay intact.
How they make money
$4.1B
annual revenue · their business grew +0.7% last year
total revenue
$4.1B
+0.7%
The products that matter
regulated utility infrastructure
Regulated Operations
$3.1B · 75% of revenue
it's the $3.1B core business and it carries three quarters of total sales. if this segment stays steady, the whole company looks steady.
75% of revenue
project-driven infrastructure work
Non-Regulated Operations
$821M · 20% of revenue
this $821M segment is the smaller piece, but it is where project wins can move the story faster. at 20% of sales, it still is not big enough to carry the company alone.
upside lever
miscellaneous smaller activities
Other
$205M · 5% of revenue
the other bucket is only $205M, or 5% of revenue. useful, but not the part of the business that should change your thesis.
small piece
Key numbers
193%
quarterly revenue jump
That kind of growth looks fake until you read the report, and it tells you project timing can make this stock look bizarre quarter to quarter.
16.0%
operating margin
Operating margin → what the business keeps after running itself → so what: Valmont is not just busy, it is profitable.
22%
return on equity
Return on equity → profit from shareholder money → so what: management has turned capital into earnings better than an average industrial grinder.
$730M
long-term debt
That is just 8% of capital, which means the balance sheet has room if the cycle gets ugly.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- long-term debt $730M (8% of capital)
- net profit margin 9.4% — keeps 9 cents of every dollar in revenue
- return on equity 22% — $0.22 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in VMI 3 years ago → it's now worth $12,840.
The index would have given you $13,920.
source: institutional data · total return
What just happened
beat estimates
Valmont posted $3.1B in quarterly revenue and crushed EPS expectations.
EPS came in at $8.84 versus a $4.94 estimate, a 78.95% surprise, while revenue rose 193% vs. prior year. Gross margin was 30.4%, which says this was not just volume for volume's sake.
$3.1B
revenue
$8.84
eps
30.4%
gross margin
the number that mattered
The 193% revenue jump matters most because it shows how violently project timing can swing this business when large infrastructure orders land.
-
valmont continued to face mixed business dynamics.
-
the company benefited from a strong infrastructure investment cycle for telecommunications.
-
the segment realized sales growth of 37% from a year ago.this was tied to increased demand for 5g-network expansion, fiber optics for households, and data center connectivity. the increase in electrification, the adoption of artificial intelligence, and the need for reliable grid systems have supported the utility division.
-
a $65 million extra high-voltage project win underscores valmont’s competitive positioning.
-
however, the core agricultural arm remained under pressure.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the top risk is regulated utility spending concentration.
med
regulated revenue concentration
$3.1B of the company's $4.1B revenue comes from regulated operations. that concentration makes the model steadier in good times, but it also means one spending channel dominates the story.
if utility and grid budgets slow, the pressure lands on roughly 75% of revenue.
med
continued agricultural softness
management already flagged the agricultural arm as under pressure. if that weakness lasts longer than the telecom strength, the company keeps looking like a one-legged growth story.
you would be relying even more on the faster infrastructure pockets to offset weakness elsewhere.
med
the multiple already assumes steadiness
a 21.7x trailing p/e on a business that grew 0.7% last year leaves less room for operational stumbles. when growth is this slow, missed expectations matter more.
the stock does not need a collapse to de-rate. it just needs the case for paying 20x+ earnings to look thinner.
between the $3.1B regulated core and the agricultural weakness management flagged, the risk picture is simple: most of the revenue base is stable, but the parts meant to add acceleration still have to prove it.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
whether growth stays stuck near +0.7%
on a $4.1B revenue base, 0.7% growth buys you stability, not excitement. the next few quarters need to show more than that for the valuation to feel generous.
trend
telecom and grid project momentum
the 37% segment growth callout and the $65M high-voltage win suggest momentum. you want proof that those were not one-quarter cameos.
risk
agriculture staying weak
management already told you the agricultural arm is under pressure. if that pressure persists, the rest of the portfolio has to do more work.
calendar
next earnings for margin follow-through
last quarter delivered $4.98 EPS with a 9.5% net margin. the next report needs to show that profit strength was not just a clean quarter landing at the right time.
Analyst rankings
short-term outlook
average
momentum score 3. in human-speak, analysts do not see a strong short-term edge here.
risk profile
average
stability score 3. this sits in the middle — not fragile, not a bunker stock.
chart momentum
average
technical score 3. the chart is moving with the market more than leading it.
earnings predictability
80 / 100
the company usually tells you what kind of quarter it is going to have. that reliability is part of the appeal.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 254 buyers vs. 208 sellers in 3q2025. total institutional holdings: 18.1M shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$332
$595
$416
current price
$464
target midpoint · +11% from current · 3-5yr high: $525 (+25% · 7% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive