Amrize Ltd (AMRZ)
NYSE:AMRZ
Top Page
Amrize Ltd
(NYSE:AMRZ)
Select Model
Select Model
Rating:73Outperform
Price Target:
$60.00
▲(10.64% Upside)
Action:ReiteratedDate:02/19/26
The score is driven primarily by solid financial quality (strong free cash flow and a de-risked balance sheet) and a positive earnings outlook with clear margin/synergy initiatives. These positives are tempered by a relatively high P/E valuation and momentum indicators that are nearing overbought levels, plus segment-specific weakness in Building Envelope and near-term free cash flow pressure from higher CapEx.
Positive Factors
Strong cash generation
Amrize’s repeatable operating cash flow (~$2.0–$2.3B) and robust free cash flow (~$1.4–$1.6B) create durable financial optionality. Sustained FCF supports reinvestment, capacity expansion, M&A, debt reduction and shareholder returns, buffering the business through cyclical slowdowns.
Negative Factors
Revenue weakness
An 8.5% revenue drop in 2025 and otherwise flat top-line trends point to slower organic demand. Sustained revenue stagnation increases reliance on pricing, capex and acquisitions to drive growth, which can compress margin upside and delay improvements in return metrics.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Amrize’s repeatable operating cash flow (~$2.0–$2.3B) and robust free cash flow (~$1.4–$1.6B) create durable financial optionality. Sustained FCF supports reinvestment, capacity expansion, M&A, debt reduction and shareholder returns, buffering the business through cyclical slowdowns.
Read all positive factors
Amrize Ltd (AMRZ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$29.97B
Dividend YieldN/A
Average Volume (3M)3.24M
Price to Earnings (P/E)25.1
Beta (1Y)1.21
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)0.54
Shares Outstanding552,735,960
10 Day Avg. Volume2,617,884
30 Day Avg. Volume3,244,681
Financial Highlights & Ratios
PEG Ratio-3.63
Price to Book (P/B)2.26
Price to Sales (P/S)2.53
P/FCF Ratio21.09
Enterprise Value/Market Cap1.30
Enterprise Value/Revenue3.30
Enterprise Value/Gross Profit12.84
Enterprise Value/Ebitda13.78
Forecast
1Y Price Target
$66.11Price Target Upside21.91% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)2.81
Revenue Forecast (FY)$12.41B
Amrize Ltd Business Overview & Revenue Model
Company Description
Amrize AG focuses on building materials business in North America. The company was incorporated in 2023 and is based in Zug, Switzerland. Amrize AG operates independently of Holcim AG as of June 23, 2025....
Amrize Ltd Earnings Call Summary
Earnings Call Date:Feb 17, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive outlook: Amrize reported modest full-year revenue growth, strong adjusted EBITDA ($3.0B), robust cash generation (49% conversion), significant margin expansion in Building Materials, clear progress on the ASPIRE cost-savings program, meaningful capacity expansions and a strategic, accretive acquisition (PB Materials). Management also announced a sizeable shareholder return program and provided constructive 2026 guidance (4%–6% revenue, 8%–11% EBITDA). Offsetting these positives are notable near-term challenges in the Building Envelope/residential roofing business (Q4 revenues down 11.8%, $8M warranty charge), a slight company-level Q4 revenue decline (-0.4%), seasonal Q1 headwinds, and the impact of elevated growth CapEx on free cash flow. Overall, the favorable operating momentum, margin initiatives, balance-sheet strength and constructive guidance outweigh the segment-specific softness and near-term headwinds.Positive Updates
Full-Year Revenue and Profitability
2025 revenues increased 0.9% to $11.8 billion and adjusted EBITDA was $3.0 billion, reflecting stable full-year performance following the spin-off.
Negative Updates
Quarterly Revenue Slight Decline
Total company revenues were slightly lower in Q4, down 0.4% year-over-year, reflecting near-term softness in some end markets.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue and Profitability
2025 revenues increased 0.9% to $11.8 billion and adjusted EBITDA was $3.0 billion, reflecting stable full-year performance following the spin-off.
Read all positive updates
Company Guidance
Amrize’s 2026 guidance targets 4–6% revenue growth and 8–11% adjusted EBITDA growth (includes the PB Materials acquisition, ~$180M revenue, closing Q1 2026), supported by higher investment (CapEx planned at $900M in 2026 vs. $788M in 2025) and the ASPIRE program (targeting 70 basis points of margin expansion in 2026 and $250M of synergies by 2028); they expect cement pricing to rise low single-digits and aggregates pricing mid single-digits (freight‑adjusted) with positive volume growth for both (cement +3.6% and aggregates +3.0% in Q4 ’25), Building Materials Q4 revenue ~$2.2B and adjusted EBITDA $705M (margin 32.6%, +60 bps), Building Envelope Q4 revenue $678M (−11.8%) with residential volumes guided flat in 2026 and commercial roofing low-single-digit volume growth, and financials underpinned by strong cash generation (2025 adjusted EBITDA $3.0B, free cash flow ≈$1.5B, cash conversion ~49%), a net leverage ratio of 1.1x (net debt ≈$3.3B), ~ $6B available liquidity, an expected effective tax rate of 21–23%, corporate costs ≈$200M, plus a $1B share repurchase program and proposed $0.44 special and $0.44 annual dividends.Amrize Ltd Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
72
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 11.81B | 11.70B | 11.68B | 10.73B |
| Gross Profit | 3.03B | 3.07B | 2.77B | 2.47B |
| EBITDA | 2.82B | 3.01B | 2.70B | 2.50B |
| Net Income | 1.19B | 1.42B | 956.00M | 1.11B |
Balance Sheet | ||||
| Total Assets | 24.25B | 23.52B | 23.05B | 20.67B |
| Cash, Cash Equivalents and Short-Term Investments | 1.92B | 1.82B | 1.11B | 351.00M |
| Total Debt | 5.91B | 5.79B | 9.52B | 8.66B |
| Total Liabilities | 10.99B | 10.21B | 13.84B | 12.46B |
| Stockholders Equity | 13.25B | 13.31B | 9.20B | 8.21B |
Cash Flow | ||||
| Free Cash Flow | 1.42B | 1.64B | 1.41B | 1.50B |
| Operating Cash Flow | 2.21B | 2.28B | 2.04B | 1.99B |
| Investing Cash Flow | -361.00M | -1.21B | -2.02B | -2.52B |
| Financing Cash Flow | -1.55B | -537.00M | 734.00M | 497.00M |
Amrize Ltd Risk Analysis
Amrize Ltd disclosed 1 risk factors in its most recent earnings report. Amrize Ltd reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amrize Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $36.55B | 34.81 | 12.79% | 0.67% | 6.54% | 32.48% | |
73 Outperform | $29.97B | 25.09 | 10.79% | ― | ― | ― | |
73 Outperform | $17.63B | 1.73 | 10.45% | 0.74% | -6.34% | 210.97% | |
72 Outperform | $36.02B | 33.02 | 11.90% | 0.51% | 1.99% | -41.08% | |
69 Neutral | $1.96B | 14.72 | 22.02% | 1.12% | 15.70% | 19.92% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | $10.84B | 43.75 | 2.78% | ― | -1.59% | -15.58% |
* Basic Materials Sector Average
AMRZ
Amrize Ltd
54.23
2.24
4.31%
CX
Cemex SAB
11.23
6.17
121.89%
MLM
Martin Marietta Materials
597.18
139.81
30.57%
VMC
Vulcan Materials
279.88
52.96
23.34%
TGLS
Tecnoglass
43.78
-20.08
-31.45%
JHX
James Hardie Industries PLC
18.58
-9.77
-34.46%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.