# United States Lime & Minerals, Inc. (USLM)

> Source: Nexqual · https://nexqual.com/USLM · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, United States Lime & Minerals, Inc. (USLM), nexqual.com/USLM" · informational, not investment advice.

**Price:** USD 111.5 (+4.61% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 106.59 · day 105.69–112.06 · 52w 96.27–141.44 · market cap $3.20B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $377M, net income $134M (35.7% margin), free cash flow $91.8M (SEC filings).
- Valuation: P/E 23.8x (avg 26.1x at the last 3 fiscal year-ends), EV/EBITDA 15.1x, net cash $403M.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $2.2M; 1 not under a Rule 10b5-1 plan ($2.2M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (1 analysts), mean target USD 132 (range 132–132).
- Total return with dividends: 1Y -17.3% vs S&P 500 +14.9%; 5Y +379.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 1.48, revenue estimate $122M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $189M | $236M | $281M | $318M | $373M | $377M |
| Gross profit | $59.3M | $70.3M | $103M | $144M | $182M | — |
| Operating income | $46.4M | $54.8M | $85.4M | $125M | $158M | $159M |
| Net income | $37.0M | $45.4M | $74.5M | $109M | $134M | $134M |
| EPS (diluted) | $1.31 | $1.60 | $2.61 | $3.79 | $4.67 | — |
| Free cash flow | $25.8M | $37.5M | $58.0M | $98.6M | $102M | $91.8M |
| Gross margin | 31.3% | 29.8% | 36.6% | 45.3% | 48.9% | — |
| Operating margin | 24.5% | 23.2% | 30.4% | 39.3% | 42.4% | 42.1% |
| Net margin | 19.6% | 19.2% | 26.5% | 34.3% | 36.0% | 35.7% |
| Revenue growth | +17.8% | +24.8% | +19.1% | +12.9% | +17.3% | — |
| Cash + short-term investments | $105M | $133M | $188M | $278M | $371M | — |
| Total debt | $0K | $0K | $0K | $0K | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 23.8x · P/S 8.5x · EV/EBITDA 15.1x · EV/Sales 7.4x · P/FCF 34.8x · P/B 4.6x · FCF yield 2.87% · Earnings yield 4.20% · Dividend yield (paid, TTM) 0.22% · Buyback yield (TTM) 0.08% · Net cash $403M · EV $2.80B
P/E at fiscal year-ends: Dec 2025 25.6x, Dec 2024 35.0x, Dec 2023 17.6x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-09 | Doumet Antoine M | Director | 20,000 | $2.2M | 18.2% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 1 analysts; mean target USD 132 (low 132, high 132).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -17.3% | +379.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -17.4% | +36.7% |
| Volatility (annualized) | 39.0% | 35.4% |
| Max drawdown | -30.1% (Apr 2026→Jul 2026) | -43.9% (Nov 2024→Mar 2025) |

## Peers (Building Materials)
KNF (Knife Riv Holding Co.) USD 53.85 +2.69% · TTAM (Titan America SA) USD 13.77 +1.77% · EXP (Eagle Materials Inc) USD 178.74 +3.09% · TGLS (Tecnoglass Holdings Inc.) USD 38.72 +2.73% · LOMA (Loma Negra Compania Industrial ) USD 9.44 -2.07% · CPAC (Cementos Pacasmayo S.A.A.) USD 12.77 +0.87%

## More
Full page: https://nexqual.com/USLM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.48 | $1.52 | -2.6% | $122.0M | 1 |
| Next quarter (ends 2026-12-31) | $1.30 | $1.47 | -11.6% | $108.0M | 1 |
| Current fiscal year (ends 2026-12-31) | $5.04 | $5.44 | -7.4% | $417.0M | 1 |
| Next fiscal year (ends 2027-12-31) | $5.70 | $6.18 | -7.8% | $473.0M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±9.5%; last 8 reports averaged ±6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 42.1% | ±9.5% |
| 2026-12-18 | 56 | 37.9% | ±11.8% |
| 2027-02-19 | 119 | 37.0% | ±16.7% |
| 2027-05-21 | 210 | 37.1% | ±22.2% |