Amrize Ltd (AMRZ) Stock Price & How to Invest

Amrize (NYSE: AMRZ) is the North American building-materials company that Holcim separated on June 23, 2025, distributing 100% of Amrize shares to Holcim holders as a dividend in kind. The standalone company holds Holcim's US, Canadian, Swiss and Jamaican operations plus support functions in Colombia, runs more than 1,000 sites, employs over 19,000 people and is dual listed on the NYSE and the SIX Swiss Exchange with corporate offices in Chicago and Zug. It reports in two segments. Building Materials (~$8.5 billion of 2025 revenue) sells cement, aggregates, ready-mix concrete and asphalt. Building Envelope (~$3.3 billion) sells commercial and residential roofing, insulation, waterproofing, coatings, adhesives and sealants, a business largely assembled through the Malarkey (2022) and Duro-Last (2023) acquisitions.

The investment picture in August 2026 is a good-volumes, bad-costs story. Second-quarter revenue rose 8.6% to ~$3.49 billion with 6.7% organic growth, cement tons up 5.0% and aggregates tons up 6.5%, and management raised full-year revenue guidance to $12.5 billion to $12.7 billion on mega-project demand from data centers, energy and advanced manufacturing. In the same release it cut adjusted EBITDA guidance to $3.1 billion to $3.2 billion from $3.25 billion to $3.34 billion, blaming oil-driven freight, diesel and raw-material inflation that pricing has not yet caught. Building Envelope segment EBITDA fell 5.2% year over year despite 9.4% revenue growth. The company also disclosed a revision of prior-period financial statements, mainly an understated extended-warranty deferred-revenue balance of ~$78 million at the end of 2025 tied to Duro-Last and Malarkey, which it judged immaterial to prior periods but material if corrected in one quarter. The stock closed at a 52-week low of ~$46.64 on August 7, roughly 29% below its February high.

Construction materials is a cyclical, interest-rate-sensitive business, and residential roofing and ready-mix demand can turn faster than cement plants can flex output. The immediate pressure is input costs: oil-linked freight, diesel, bitumen and roofing raw materials compressed consolidated adjusted EBITDA margin by 80 basis points year over year in Q2 and Building Envelope margin by 350 basis points, and the fix depends on price increases sticking with customers. The prior-period revision, centered on understated extended-warranty deferred revenue from the Duro-Last and Malarkey acquisitions, is a control question at a company barely a year into standalone reporting, and it is the kind of disclosure that can attract plaintiff-firm attention even when management concludes the amounts were immaterial. Free cash flow was a use of ~$986 million in the first half, worse than the prior year on higher capex, so the full-year cash story rests entirely on a seasonally strong second half. The company is also Swiss-incorporated with a second listing in Zurich, which adds governance and tax mechanics that a purely domestic peer does not carry.

19 analysts publish price targets on AMRZ, averaging $61.83 against a $46.64 price as of August 2026, or +32.6%. The published targets run from $48.00 to $70.00, a moderate spread, and the ratings split 12 buy, 8 hold, 0 sell. Over the last six months there have been 4 raises and 7 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full AMRZ forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Amrize Ltd. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Mega-project demand for cement and aggregates. Management attributes the second quarter's 6.7% organic growth to data centers, energy projects, advanced manufacturing plants and infrastructure modernization, and says it is signing multi-year supply agreements against those starts. The most optimistic published target, $70.00, assumes this works close to its best case.

The case against. Construction materials is a cyclical, interest-rate-sensitive business, and residential roofing and ready-mix demand can turn faster than cement plants can flex output. The most pessimistic target, $48.00, is roughly what AMRZ is worth if this bites instead.

Read the full bull and bear case on AMRZ, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Amrize Ltd's investor relations page or your broker.

• Revenue (TTM): ~$12.2B, with Q2 2026 at ~$3.49B, up 8.6% year over year
• Adjusted EBITDA (TTM): ~$3.0B, a margin of ~24.9%; Q2 margin was 28.2%, down 80 bps
• Net income / diluted EPS (TTM): ~$1.2B and ~$2.23; Q2 net income was ~$476M, up 14.4%
• Market cap and P/E: ~$25.9B at a ~$46.64 close, or roughly 21x trailing earnings
• Enterprise value / EBITDA: ~10x, on ~$5.3B of net debt and 1.7x net leverage
• FY 2026 guidance: Revenue $12.5B to $12.7B (raised); adjusted EBITDA $3.1B to $3.2B (cut from $3.25B to $3.34B)

The multiple sits below pure-play aggregates names: Vulcan trades near 33x trailing earnings and Martin Marietta near 13x on a very different earnings base, while CRH is near 17x. Part of Amrize's discount is the Building Envelope segment, which is a manufacturing business with different margins and a different cost structure than a quarry. The rest reflects a one-year operating history as a standalone, a guidance cut on its second reported quarter of 2026, and the prior-period revision disclosed alongside it.

Other names that sit close to AMRZ: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get AMRZ exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so AMRZ sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where AMRZ fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Amrize is a scaled, cash-generative building-materials company that is cheap relative to its aggregates peers, and the discount is doing real work: a one-year track record, a first-half accounting revision, and a guidance cut driven by input costs it does not control.

Whether AMRZ is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is AMRZ a buy or a sell?, and where the stock could go from here in the AMRZ stock forecast.

For income investors, whether AMRZ pays a dividend and how the payout looks is covered in does AMRZ pay a dividend? And to weigh AMRZ against a peer, read the full side-by-side comparisons: AMRZ vs MLM and AMRZ vs VMC.