Astec Industries

ASTE

Agricultural - Machinery · Industrials

Price

$55.09

-1.21 (-2.15%)

Market Cap

$1.27B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+1.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 22.9M (2021) → 23.2M (2025)

Astec Industries, Inc. designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recover

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+20.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-90.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

1.8%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$75M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Astec Industries is a rare growth stock that's already generating positive cash flow while growing at 20%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

25.0%

Modest — 25.0% gross margin

Operating Margin

2.3%

Thin — 2.3% operating margin

ROCE

0.9%

Weak — 0.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+11.5%

Steady sales growth (11.5% YoY)

EPS YoY

+68.7%

Earnings growing fast (68.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

318%

Turns 318% of profit into real cash

FCF Margin

2.5%

Thin free cash flow (2.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.54

Conservative — low debt load (0.54)

Interest Cover

5.97x

Adequate interest coverage (6.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

48.8x

Expensive — P/E 48.8

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+38.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (48.8 → 10.7)

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Dividends

Dividend Yield

0.94%

Small dividend — 0.94% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+0.0%

Dividend flat

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