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North American building-materials company spun off from Holcim in 2025, making cement, aggregates and ready-mix concrete.
North American building-materials company spun off from Holcim in 2025, making cement, aggregates and ready-mix concrete.
Sells cement, aggregates and ready-mix concrete locally, since heavy materials are costly to move, so each plant or quarry is priced against nearby rivals; a roofing and building-envelope segment sells through contractors and distributors. It is the former North American business of Holcim, listed in the US and Switzerland since mid-2025.
In one line: A newly independent, North-America-only Holcim.
Moat: narrow (scale, distribution, regulatory licence). Large North American cement/aggregates network inherited from Holcim; local permits protect plants.
Headquarters: Zug, Switzerland · Founded: 2025 · Employees: 19,000
Size Amrize (AMRZ) is a United States Materials company (Construction Materials) with a market value of $22.9B, the 452nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $41.87 on 6 Nov 2026.
Performance Over six months the shares fell 20.8%, against -3.7% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 13 in its peer set.
Growth Revenue grew 3.9% over the last twelve months (peer median +1.6%); the operating margin is 15.9% (peer median 14.4%).
Valuation It trades at 17.2× forward earnings against a peer median of 17.8× (7th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.8 points above its cost of capital (6.1% WACC).
Backlog Backlog (remaining performance obligations) was $445M at 31 Dec 2025 — 0.0 years of trailing revenue. Backlog detail →
Credit Amrize has 6 bonds outstanding ($4.38B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 83 bp.
Short interest Short interest is 2.3% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $12.3B | $11.8B | $11.7B | $11.7B | $10.7B |
| Revenue growth | — | +1% | 0% | +9% | — |
| Gross profit | $3.06B | $3.03B | $3.04B | $2.72B | $2.47B |
| EBITDA | $2.95B | $2.81B | $2.99B | $2.69B | $2.53B |
| Net income | $1.22B | $1.19B | $1.27B | $956M | $1.11B |
| Free cash flow | $1.08B | $1.42B | $1.64B | $1.41B | $1.50B |
| Capital expenditure | $943M | $788M | $642M | $630M | $488M |
| Total debt | $6.99B | $6.34B | $9.54B | $9.52B | n/a |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Amrize AMRZ | $22.9B | -21% | +4% | 16% | 17.2× | -0.1% |
| CRH CRH | $63.1B | -16% | +6% | 14% | 16.0× | 11.0% |
| Martin Marietta Materials MLM | $36.8B | -12% | +9% | 20% | 28.8× | 23.2% |
| Vulcan Materials VMC | $36.3B | 0% | +2% | 21% | 29.5× | 18.7% |
| Cemex SAB de CV Sponsored ADR CX | $16.6B | -18% | +10% | 13% | 11.2× | 4.4% |
| Eagle Materials EXP | $5.71B | -12% | +2% | 22% | 16.1× | 9.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AMRZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.7% | +15.3% | 6th lowest of 13 |
| 6-month return | -20.8% | -3.7% | lowest of 13 |
| Distance from 52-week high | -36.5% | -17.9% | lowest of 13 |
| Revenue growth (TTM) | +3.9% | +1.6% | 6th highest of 13 |
| Operating margin | 15.9% | 14.4% | 6th highest of 13 |
| Forward P/E | 17.2× | 17.8× | 7th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -0.1% | 4.7% | 4th least demanding of 13 |
| Growth delivered (Del g) | +3.3% | +5.8% | 3rd lowest of 13 |
| Hurdle (Req g minus delivered) | -3.4 pp | +3.3 pp | 4th least demanding of 13 |
| ROIC minus cost of capital | +1.8 pp | -0.7 pp | 4th highest of 13 |
| EV / EBITDA | 10.0× | 10.9× | 5th cheapest of 11 |
| Net debt / EBITDA | 2.3× | 2.0× | 4th most indebted of 12 |
| Bond spread | 83 bp | 85 bp | 3rd tightest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Amrize AMRZ | United States | $22.9B | -21% | +4% | 16% | 17.2× | -0.1% | +3.3% |
| Cemex SAB de CV Sponsored ADR CX | United States | $16.6B | -18% | +10% | 13% | 11.2× | 4.4% | +4.7% |
| James Hardie Industries JHX | United States | $16.2B | +33% | +43% | 14% | 21.0× | 26.1% | +10.7% |
| Heidelberg Materials HEI.DE | Germany | $34.3B | -5% | 0% | 15% | 13.5× | 4.9% | +4.0% |
| Vulcan Materials VMC | United States | $36.3B | 0% | +2% | 21% | 29.5× | 18.7% | +10.3% |
| Martin Marietta Materials MLM | United States | $36.8B | -12% | +9% | 20% | 28.8× | 23.2% | +5.4% |
| Anhui Conch Cement 600585.SS | China | $13.9B | -12% | -8% | 4% | 19.4× | -7.7% | -14.1% |
| Holcim HOLN.SW | Switzerland | $48.4B | -3% | -26% | 16% | 19.5× | 1.4% | -7.4% |
| CRH CRH | United States | $63.1B | -16% | +6% | 14% | 16.0× | 11.0% | +6.3% |
| Buzzi BZU.MI | Italy | $8.04B | -9% | +2% | 18% | 9.3× | 2.8% | +7.0% |
| Huaxin Building Materials 600801.SS | China | $7.16B | +28% | +16% | 18% | 14.8× | -10.9% | +3.7% |
| ROCKWOOL A/S ROCK-A.CO | Denmark | $6.72B | +11% | -1% | 13% | 16.2× | -4.8% | +8.3% |
| TCC 1101.TW | Taiwan | $6.09B | +11% | -6% | 8% | 29.2× | 9.1% | +7.2% |
Amrize has 6 bonds outstanding with $4.38B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 5.55%, a spread of 83 bp over government bonds.
Amrize reported $445M of remaining performance obligations at 31 Dec 2025 and up 15% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.02.