AMRZ

Amrize is a newly-independent (spun from Holcim) North American building-solutions company with genuinely high-quality financials but a maturing, cyclical growth profile. The balance sheet is a standout: liabilities/equity of just 0.83x, equity up 33.7% YoY to $13.3B (largely separation-related recapitalization), $1.92B cash (+21.3%), and $2.21B operating cash flow against $788M capex — roughly $1.4B of free cash flow funding three 2025 acquisitions and shareholder returns. Management explicitly frames a disciplined capital-allocation playbook of bolt-on M&A in fragmented building-materials markets, and R&R (43% of revenue) lends some demand stability versus pure new-construction cyclicals.

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