Short answer
UNITED STATES LIME & MINERALS INC (USLM) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $373M (+17.3% year over year) and net income of $134M.
- Top risk flagged: Regulatory risk from potential new Environmental Laws on greenhouse gas emissions, carbon tax, or cap-and-trade programs impacting compliance costs
FY2025 key financial metrics · XBRL
- Revenue
- $373M
- +17.3% YoY
- Net income
- $134M
- +23.4% YoY
- Operating margin
- 42.4%
- +3.0 pp YoY
- Gross margin
- 48.9%
- +3.6 pp YoY
- EPS (diluted)
- $4.67
- +23.2% YoY
- ROE
- 21.3%
- −0.6 pp YoY
- Operating cash flow
- $165M
- +30.9% YoY
Source: XBRL data from the UNITED STATES LIME & MINERALS INC (USLM) FY2025 10-K on SEC EDGAR. USD.
UNITED STATES LIME & MINERALS INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Lime and minerals production focused on mining operations support
- No new products or segments introduced or emphasized this year
- Peer group expanded in 2025, adding Arcosa Inc. and Granite Construction Inc., reflecting adjusted competitive benchmarking
- Stockholders’ return soared to $536.00 from $100 in 2020, significantly outperforming NASDAQ Composite and prior peer indices
- Repurchased 18,691 shares at $119.74 per share in Q4 2025 for tax withholding on restricted stock exercises
Management Discussion & Analysis
- Revenue $372.7M in 2025, up 17.3% (+$55.0M) YoY from $317.7M in 2024; driven by 11.7% volume and 5.6% price increases
- Operating margin 42.4% in 2025 vs 39.4% in 2024; gross profit margin 48.9% vs 45.3%; net income margin 36.0% vs 34.3%
- Single segment: lime and limestone operations; revenue growth driven by construction, environmental, steel demand; oil & gas demand declined
- Cash from operations $165M in 2025 (+30.9%); capex $62.7M including $37.3M spent on $65M Texas kiln project; dividends $6.9M; no debt outstanding
- Management anticipates kiln startup summer 2026; weather and demand softness in roof shingle market pose near-term risks; quarterly dividend of $0.06/share declared
Risk Factors
- Regulatory risk from potential new Environmental Laws on greenhouse gas emissions, carbon tax, or cap-and-trade programs impacting compliance costs
- Geopolitical exposure to ongoing conflicts in Ukraine, Middle East, and Latin America increasing energy and supply costs
- Operational vulnerability to major rail disruptions affecting coal and petroleum coke supply, critical to plant operations
- Competitive risk from rising lime prices increasing susceptibility to new market entrants and multinational competitors
- Financial risk from high delivery costs influenced by diesel price increases and inability to fully pass surcharges to customers
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