Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Amrize Ltd files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2023
FY2025
FY2025
Revenue
11,677
11,704
11,815
Cost of revenue
8,908
8,634
8,781
Gross profit
2,769
3,070
3,034
Selling, general and administrative
898
944
1,128
Selling and marketing
15
25
45
Operating income
1,888
2,195
1,906
Interest expense
564
547
461
Interest income
15
35
48
Other non-operating income
-36
-55
4
Pre-tax income
1,303
1,628
1,497
Income tax
361
368
326
Net income to minority interests
-1
-1
-3
Net income
956
1,274
1,185
EBITDA
2,577
2,931
2,664
EPS, basic
1.73
2.30
2.14
EPS, diluted
1.73
2.30
2.14
Shares, basic (weighted)
553
553
553
Shares, diluted (weighted)
553
553
554
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
1,107
1,585
1,922
Inventory
1,452
1,490
Other current assets
20
88
Total current assets
4,781
4,613
Property, plant and equipment
7,534
7,936
Lease right-of-use assets
547
615
Goodwill
8,970
8,917
9,044
Intangible assets
1,832
1,728
Other non-current assets
194
273
Total assets
23,805
24,209
Accounts payable
1,530
Deferred revenue
67
61
Short-term debt
0
333
Total current liabilities
2,550
2,885
Long-term debt
4,936
Lease liabilities
386
500
Other non-current liabilities
1,521
1,725
Total liabilities
13,891
11,088
Total debt
5,269
Paid-in capital
0
12,569
Retained earnings
0
930
Treasury stock
0
0
Other comprehensive income
-606
-380
Shareholders' equity
9,915
13,125
Minority interests
-1
-4
Total equity
9,203
9,779
13,121
Total liabilities and equity
23,805
24,209
Shares outstanding
553
Cash flow statement
FY2023
FY2025
FY2025
Net income
955
1,273
1,182
Depreciation and amortization
689
736
758
Stock-based compensation
5
6
14
Deferred income tax
11
-35
78
Change in receivables
-83
211
-43
Change in inventory
-7
-146
-61
Cash from operations
2,036
2,282
2,208
Capital expenditures
-630
-642
-788
Acquisitions
-1,607
-249
-86
Cash from investing
-2,025
-1,208
-361
Debt issued
0
0
3,395
Cash from financing
734
-537
-1,555
Net change in cash
756
478
337
Free cash flow
1,406
1,640
1,420
Interest paid
504
497
411
Income taxes paid
211
302
369
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $38.22 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
25.1%
Gross profit / revenue.
Operating margin
15.5%
Operating income / revenue.
EBITDA margin
22.2%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
12.8%
Pre-tax income / revenue.
Net margin
10.1%
Net income / revenue.
FCF margin
10.8%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
17.8%
Cash from operations / revenue.
Effective tax rate
22.8%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
9.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
5.0%
Net income / average total assets.
Return on invested capital (ROIC)
8.4%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
9.5%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
0.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
7.1%
Capital expenditures / revenue.
D&A / revenue
6.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
0.9%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-1.2%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-13.2%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-9.1%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-7.0%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-7.0%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-3.2%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
-13.4%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
32.4%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
1.7%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
0.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.10x
Current assets / current liabilities.
Quick ratio
0.18x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.18x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.41x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
21.4%
Total debt / total assets.
Liabilities / assets
47.7%
Total liabilities / total assets.
Net debt
$4.54B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
1.68x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
39.6%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$2.23
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$22.01
Revenue / diluted weighted shares.
FCF per share
$2.37
Free cash flow / diluted weighted shares.
Operating cash flow per share
$3.93
Cash from operations / diluted weighted shares.
Book value per share
$23.40
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
16.9x
Market cap / net income. Only when net income is positive.
P/S
1.72x
Market cap / revenue.
P/B
1.62x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
9.77x
Market cap / tangible book value, when positive.
P/FCF
15.9x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
9.62x
Market cap / cash from operations, when positive.
EV/Sales
2.09x
Enterprise value / revenue.
EV/EBIT
13.4x
Enterprise value / operating income, when both are positive.
EV/EBITDA
9.41x
Enterprise value / EBITDA, when both are positive.
EV/FCF
19.4x
Enterprise value / free cash flow, when both are positive.
FCF yield
6.3%
Free cash flow / market cap.
Earnings yield
5.9%
Net income / market cap (the inverse of P/E).
What was Amrize Ltd's revenue in fiscal 2025?
Amrize Ltd reported revenue of $11.82B for fiscal 2025, 0.9% higher than the year before.
Was Amrize Ltd profitable in fiscal 2025?
Yes. Net income was $1.19B, a net margin of 10%.
How much free cash flow did Amrize Ltd generate in fiscal 2025?
Cash from operations of $2.21B minus capital expenditures of $788.0M left free cash flow of $1.42B.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.