Eagle Materials Inc. (EXP)

Industry: Construction Materials Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
TITC.BR	34	Titan Cement Inter	3,138	11.03	8.49	4.84	4.15	5.14	11.44
KNF	35	Knife River Corpor	3,048	29.33	29.33	12.16	12.16	6.40	20.81
5546.TW	36	Yonggu Group Inc.	2,831	-	-	-	-	-	170.86
002302.SZ	37	China West Constru	2,727	-	-	-	-	-	-
2233.HK	38	West China Cement	2,610	5.95	4.30	3.36	2.71	3.93	5.14
600176.SS	39	China Jushi Co., L	2,573	19.95	17.60	12.81	11.36	16.78	15.27
SRC.L	40	SigmaRoc plc	2,358	28.04	28.04	5.59	5.59	6.29	7.34
EXP	41	Eagle Materials In	2,302	16.93	13.61	11.10	10.14	12.41	13.42
SHREECEM.BO	42	Shree Cement Limit	2,230	61.43	61.31	19.93	18.80	87.64	61.79
DBM.TO	43	Doman Building Mat	2,213	10.30	8.17	7.89	6.45	8.90	9.87
003670.KS	44	Posco Future M Co.	2,103	-	-	296.85	324.57	67.98	450.66
SMGR.JK	45	PT Semen Indonesia	2,102	166.52	311.67	9.63	11.78	13.45	27.58
TTAM	46	Titan America S.A.	1,936	15.51	15.51	8.09	8.09	8.76	11.76
1252.HK	47	China Tianrui Grou	1,841	-	-	4.93	5.39	10.97	67.59
0R6S.L	48	Zehnder Group AG	1,818	19.50	19.83	6.74	6.44	6.20	11.13
SCCC-R.BK	49	Siam City Cement P	1,742	8.14	7.33	4.32	3.99	11.32	6.58

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	15.51	15.51	6.74	6.44	8.76	11.60
Full Range Median Multiple	19.50	17.60	7.89	6.45	8.90	13.52
Industry Multiple	34.16	46.51	30.55	32.42	19.52	62.70
Market Implied Multiple	16.84	13.54	11.05	10.10	12.35	13.36
Company (EXP) Multiple	16.93	13.61	11.10	10.14	12.41	13.42
(*) Net Income / EBITDA / Revenue	447	556	797	873	714	660
Winsorized Enterprise Value	N/A	N/A	5,376	5,621	6,253	7,653
Full Range Median Enterprise Value	N/A	N/A	6,289	5,635	6,354	8,920
(-) Net Debt	1,290	1,290	1,290	1,290	1,290	1,290
Winsorized Equity Value	6,929	8,619	4,086	4,330	4,963	6,363
Full Range Median Equity Value	8,715	9,781	4,999	4,345	5,064	7,629
(/) Shares Outstanding	32	32	32	32	32	32
Winsorized Fair Value	$213.46	$265.52	$125.87	$133.41	$152.90	$196.04
Full Range Median Fair Value	$268.47	$301.32	$153.99	$133.85	$156.01	$235.04
Current Price	$231.83	$231.83	$231.83	$231.83	$231.83	$231.83
Upside / Downside	-7.93%	14.53%	-45.71%	-42.45%	-34.05%	-15.44%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$149.42	$185.86	$88.11	$93.39	$107.03	$137.23
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy