Carlisle Companies (CSL) Investor Presentation summary

Business overview and market position

• Leading supplier of innovative building envelope products focused on energy efficiency, with a $70B total addressable market and $5.0B in 2024 revenue.

• 74% of revenue comes from construction materials, with 61% from replace & remodel and 82% from commercial projects.

• Operations are primarily U.S.-based (90%), with a strong focus on commercial and re-roofing markets.

• Carlisle Construction Materials and Weatherproofing Technologies divisions address $19B markets each, emphasizing energy efficiency and comprehensive solutions.

• Recurring re-roofing demand is supported by an aging U.S. building stock, with 80% of permits for buildings over 25 years old.

Financial performance and metrics

• Achieved 26.6% adjusted EBITDA margin, 18.8% free cash flow margin, and 28.5% ROIC in 2024.

• Adjusted EPS reached $20.20 in 2024, with a market cap of ~$16B as of May 2025.

• Demonstrated margin resilience and consistent growth through economic cycles, including the global financial crisis and pandemic.

• 49 consecutive years of increasing dividends, with a 14% CAGR in dividends per share and a 28% reduction in shares outstanding since 2018.

• Multi-year track record of 15%+ free cash flow margin, with $6B+ expected cumulative free cash flow from 2024 to 2030.

Strategic initiatives and growth drivers

• Vision 2030 targets: $40+ adjusted EPS, 25%+ ROIC, 5% organic revenue growth, 25%+ adjusted EBITDA margin, and 15%+ FCF margin.

• Focus on operational excellence, innovation-driven organic growth, strategic M&A, and disciplined capital allocation.

• R&D investment to increase from <1% to 3% of revenue, aiming for 25% of revenue from new products by 2030.

• Recent acquisitions (MTL, Plasti-Fab, Bonded Logic) expand product offerings, geographic reach, and vertical integration.

• The Carlisle Operating System drives continuous improvement, automation, and cost savings of 1-2% of sales annually.