UNITED STATES LIME & MINERALS INC (USLM) FY2025 10-K Annual Report
UNITED STATES LIME & MINERALS INC (USLM) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
UNITED STATES LIME & MINERALS INC FY2025 10-K Analysis
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
UNITED STATES LIME & MINERALS INC FY2025 Key Financial MetricsXBRL
Revenue
$373M
▲ +17.3% YoY
Net Income
$134M
▲ +23.4% YoY
Gross Margin
48.9%
▲ +362bp YoY
Operating Margin
42.4%
▲ +303bp YoY
Net Margin
36.0%
▲ +177bp YoY
ROE
21.3%
▼ -58bp YoY
Total Assets
$681M
▲ +25.4% YoY
EPS (Diluted)
$4.67
▲ +23.2% YoY
Operating Cash Flow
$165M
▲ +30.9% YoY
Source: XBRL data from UNITED STATES LIME & MINERALS INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
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