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UK-listed building-materials group producing aggregates, lime and cement through acquisitions across Europe.
UK-listed building-materials group producing aggregates, lime and cement through acquisitions across Europe.
Sells heavy, low-value materials that cost a lot to transport, so each quarry or lime works mostly serves a limited local area. Lime is also sold as an industrial input, especially to steelmakers. The group was assembled by buying quarry and lime operators across northern and central Europe.
In one line: A UK roll-up akin to a smaller Martin Marietta Materials.
Moat: narrow (scale, installed base). Owns hard-to-permit quarry assets consolidated via a buy-and-build strategy.
Headquarters: London, UK · Founded: 2016
Size SigmaRoc (SRC.L) is a United Kingdom Materials company (Construction Materials) with a market value of $1.95B, the 161st largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £130.20 on 6 Nov 2026.
Performance Over six months the shares gained 14.1%, against -20.0% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 4.5% over the last twelve months (peer median -0.9%); the operating margin is 14.9% (peer median 8.4%).
Valuation It trades at 12.1× forward earnings against a peer median of 13.7× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +53%, so the hurdle is -40 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.2 points below its cost of capital (11.7% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £1.05B | £1.04B | £963M | £542M | £538M |
| Revenue growth | — | +8% | +78% | +1% | — |
| Gross profit | £272M | £269M | £229M | £124M | £109M |
| EBITDA | £254M | £239M | £197M | £105M | £94.5M |
| Net income | £88.4M | £79.9M | £23.3M | £13.5M | £31.2M |
| Free cash flow | £66.6M | £75.7M | £5.11M | £11.9M | £27.6M |
| Capital expenditure | £107M | £96.7M | £75.0M | £43.0M | £52.7M |
| Total debt | n/a | £639M | £642M | £238M | £262M |
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 |
|---|---|---|---|---|---|---|
| SigmaRoc SRC.L | $1.95B | +14% | +4% | 15% | 12.1× | 12.4% |
| Breedon BREE.L | $1.60B | +17% | +8% | 7% | 12.2× | 10.1% |
| CRH CRH | $63.1B | -16% | +6% | 14% | 16.0× | 11.0% |
| Heidelberg Materials HEI.DE | $34.3B | -5% | 0% | 15% | 13.5× | 4.9% |
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 | SRC.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.6% | +0.7% | 7th highest of 21 |
| 6-month return | +14.1% | -20.0% | 3rd highest of 20 |
| Distance from 52-week high | -14.9% | -37.4% | 5th highest of 21 |
| Revenue growth (TTM) | +4.5% | -0.9% | 9th highest of 21 |
| Operating margin | 14.9% | 8.4% | 5th highest of 20 |
| Forward P/E | 12.1× | 13.7× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 12.4% | 7.4% | 4th most demanding of 14 |
| Growth delivered (Del g) | +52.8% | +0.8% | highest of 14 |
| Hurdle (Req g minus delivered) | -40.4 pp | -1.7 pp | least demanding of 14 |
| ROIC minus cost of capital | -3.2 pp | -2.9 pp | 10th lowest of 20 |
| EV / EBITDA | 7.7× | 7.0× | 5th most expensive of 11 |
| Net debt / EBITDA | 1.8× | 2.7× | 4th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SigmaRoc SRC.L | United Kingdom | $1.95B | +14% | +4% | 15% | 12.1× | 12.4% | +52.8% |
| Sichuan Hexie Shuangma 000935.SZ | China | $1.98B | -35% | -14% | 15% | 13.8× | n/a | n/a |
| Gansu Shangfeng Materials 000672.SZ | China | $1.88B | -6% | -23% | 7% | 4.5× | 10.2% | -6.1% |
| YOUNGY 002192.SZ | China | $2.03B | -52% | +315% | 60% | n/a | 4.9% | +16.8% |
| BBMG 2009.HK | Hong Kong | $1.87B | -20% | -22% | -4% | n/a | 42.3% | -4.0% |
| Titan America TTAM | United States | $2.08B | -32% | +5% | 15% | 10.5× | 1.0% | +6.9% |
| CCCC Design And Consulting 600720.SS | China | $1.73B | -24% | -10% | 12% | 9.7× | n/a | n/a |
| Breedon BREE.L | United Kingdom | $1.60B | +17% | +8% | 7% | 12.2× | 10.1% | +13.0% |
| Imerys NK.PA | France | $2.41B | +11% | -2% | 6% | 15.4× | 7.4% | -2.3% |
| Cementos Molins CMO.MC | Spain | $2.70B | n/a | +14% | 12% | 13.6× | 8.9% | +12.5% |
| Cementir CEM.MI | Italy | $2.70B | +5% | -2% | 13% | 12.8× | 4.3% | +6.0% |
| FangDa Carbon New Material 600516.SS | China | $2.74B | -20% | +17% | -4% | 226.5× | n/a | n/a |
| China National Building Material 3323.HK | Hong Kong | $2.76B | -51% | 0% | 2% | 25.2× | 25.1% | -7.7% |
| Fsilon Furnishing and Construction Materials 605318.SS | China | $1.36B | -29% | -15% | -5% | 3,613.5× | n/a | n/a |
| BBMG Jidong Cement 000401.SZ | China | $1.35B | -21% | -8% | n/a | n/a | 37.1% | -7.0% |
| Guangdong Tapai 002233.SZ | China | $1.34B | -10% | -11% | 7% | 20.3× | -15.3% | -10.2% |
| West China Cement 2233.HK | Hong Kong | $1.30B | -29% | -10% | 15% | 11.1× | n/a | n/a |
| Caltagirone CALT.MI | Italy | $1.26B | +1% | +10% | 10% | n/a | 0.9% | +10.5% |
| Taiheiyo Cement 5233.T | Japan | $3.03B | +19% | +1% | 8% | 7.7× | 0.8% | +0.8% |
| Shandong Fiberglass 605006.SS | China | $1.25B | +10% | +31% | 5% | 64.0× | n/a | n/a |
| Knife River KNF | United States | $3.20B | -38% | +11% | 9% | 23.1× | n/a | n/a |