Is the business good?
How good a business is USLM?
United States Lime & Minerals, Inc. earns 44% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
44%
Return on invested capital · cost of capital 9.0% · 35 points above what the capital costs: growth creates value
- Operating margin
- 42%
Operating margin · Building Materials median 18% · 12 months to Q1 2026
- Cash conversion
- 0.70×
Cash conversion · 0.85× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +0.18%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 21% |
| FY2021 | 25% |
| FY2022 | 23% |
| FY2023 | 30% |
| FY2024 | 39% |
| FY2025 | 42% |
Details›
- Gross margin12 months to Q1 2026
- 48%
- Operating margin12 months to Q1 2026
- 42%
- Net margin12 months to Q1 2026
- 35%
- Free cash flow margin
- 25%
- Revenue, trailing twelve months
- $369M
- Free cash flow, trailing twelve months
- $91M
- Net income, trailing twelve months
- $131M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 44%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Building Materials
Ranks #3 of 11 by Smart Score