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NEW YORK STOCK EXCHANGE, INC. · Construction · CIK 0002035989
$39.44
+1.65% · live
Updated
$21.81B market value
From Amrize Ltd's FY2025 10-K, filed Feb 18, 2026 · read the filing
Amrize makes glass, cement and building materials. It took in $11.81B last year, which makes it a large company. Of every dollar it sells, about 10 cents is left as profit.
The financial picture is led by profitability and debt, with growth worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Strong finances across the board.
From Amrize Ltd's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Cash
$1.58B → $1.92B
Capital spending
$642.0M → $788.0M
Operating income
$2.19B → $1.91B
Profit
$1.27B → $1.19B
Measured against FY2024, from the 10-K filed Feb 18, 2026
Improved: +21.3%
$1.58B to $1.92BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: +22.7%
$642.0M to $788.0MSignificant
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
-13.2%
How the latest move compares (quote live), and what was published around it
AMRZ rose 1.65% on the latest quote. The average Materials company tracked here moved −1.23%, and the S&P 500 −1.04%. That is 2.9 points above its sector and 2.7 points above the market.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 1% a year for the next 10 years. Over the last 2 years it grew by about 0% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 10 cents of every dollar of sales as profit, earning $1.19B last year.
Barely. Sales were roughly flat, up 0.9%.
It does not appear so. For every $1 it owes, it owns $2.21 in assets.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it earned $1.19B and generated $2.21B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 18, 2026Filing for FY2025 | FY202410-K · Feb 18, 2026Filing for FY2024 | FY202310-K · Feb 18, 2026Filing for FY2023 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|
| RevenueWhat is this? | $11.81B | $11.70B | $11.68B | +0.9% |
| Cost of revenue | $8.78B | $8.63B | $8.91B | +1.7% |
| Gross profit | $3.03B | $3.07B | $2.77B | −1.2% |
| Gross marginGross profit ÷ revenueWhat is this? | 25.7% | 26.2% | 23.7% | −0.6 pts |
| Selling, general and administrative | $1.13B | $944.0M | $898.0M | +19.5% |
| Operating income | $1.91B | $2.19B | $1.89B | −13.2% |
| Operating marginOperating income ÷ revenueWhat is this? | 16.1% | 18.8% | 16.2% | −2.6 pts |
| Interest expense | $216.0M | $43.0M | $49.0M | +402.3% |
| Income before tax | $1.50B | $1.63B | $1.30B | −8.0% |
| Net income | $1.19B | $1.27B | $956.0M | −7.0% |
| Net marginNet income ÷ revenueWhat is this? | 10.0% | 10.9% | 8.2% | −0.9 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $2.14 | $2.30 | $1.73 | −7.0% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Bought on the open market — 10,000 shares at $42.37 ($423.7K)
Holds 1,751,000 shares after this filing.
Bought on the open market — 15,000 shares at $42.53 ($638.0K)
Holds 1,766,000 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Had a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join
Read the filingWrite down why you are following Amrize Ltd, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 25 subsidiaries named in its 10-K, incorporated across 17 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from AMRZ's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 18, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 8.7 | 4/8 | 10-K, filed Feb 18, 2026 |
| FY2024 | 6.0 | 5/5 | 10-K, filed Feb 18, 2026 |
| FY2023 | 6.0 | 2/2 | 10-K, filed Feb 18, 2026 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
4 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
2.08
In the grey zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
$2.19B to $1.91BNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -7.0%
$1.27B to $1.19BNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −2.6 pts
18.8% to 16.1%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: -13.4%
$1.64B to $1.42BNotable
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Deteriorated: -7.0%
$2.30 to $2.14Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Q2 FY2026 against Q2 FY2026, from the 10-Q filed Aug 10, 2026 — read it.
Improved: +15.3%
$0.75 to $0.87Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +21.3%
$601.0M to $729.0MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +8.6%
$3.22B to $3.49BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +5.5%
$941.0M to $993.0MNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +8.2%
$657.0M to $711.0MNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +14.6%
$417.0M to $478.0MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
5 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between -1% and 3%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 2.0% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 16.3x — investors pay $16.3 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
Bought on the open market — 1,000 shares at $42.44 ($42.4K)
Holds 1,767,000 shares after this filing.
Bought on the open market — 2,000 shares at $42.53 ($85.1K)
Holds 517,000 shares after this filing.
Bought on the open market — 2,000 shares at $42.47 ($84.9K)
Holds 519,000 shares after this filing.
Bought on the open market — 5 shares at $44.58 ($243.85)
Holds 5,199 shares after this filing.
Bought on the open market — 3,500 shares at $44.12 ($154.4K)
Holds 7,500 shares after this filing.
Bought on the open market — 4,150 shares at $45.02 ($186.8K)
Holds 9,766 shares after this filing.
Bought on the open market — 1,500 shares at $44.15 ($66.2K)
Holds 21,639 shares after this filing.
Bought on the open market — 2,510 shares at $46.92 ($117.8K)
Holds 10,155 shares after this filing.
Bought on the open market — 5,260 shares at $47.31 ($248.9K)
Holds 10,637 shares after this filing.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Had a director or senior officer leave or join · Made a Regulation FD disclosure
Quarterly report for Q2 FY2026
Revenue +8.6% · Earnings per share +15.3% · Cash +21.3% — against Q2 FY2026
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2026
Operating margin −3.1 pts · Operating income $67.0M wider · Cash +91.5% — against Q2 FY2026
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingHeld a shareholder vote · Reported another event
Read the filingReported another event
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingProxy statement for a shareholder meeting
Read the filingChanged its auditor
Read the filingAnnual report for FY2025
Operating margin −2.6 pts · Cash +21.3% · Capital spending +22.7% — against FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join
Read the filingReported a mine safety matter
Read the filingReported a mine safety matter
Read the filingQuarterly report for Q3 FY2025
Revenue +6.6% · Operating margin −3.3 pts · Cash +96.7% — against Q3 FY2025
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2026
Operating margin −2.8 pts · Cash +66.9% · Operating income -12.9% — against Q2 FY2025
Read the filingSource: Exhibit 21 of the 10-K filed 2026-02-18. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
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Primary sources and further research