Martin Marietta Materials (MLM)
Materials · $35.8B market cap · SEC CIK 0000916076
$499.34
▼-0.07% on the day
close of Sep 22, 2026
56
Mixed
fundamentals score out of 100
fundamentals score out of 100
Next reports on Nov 2, 2026, with analysts expecting $6.70 in earnings per share.
The case for MLM
- Generated $978M of free cash flow in FY2025, 16% of revenue.
- 37% of revenue drops through to net profit.
- Earnings per share up 125.7%.
- Reasonably priced at 14.6× earnings.
- A PEG of 0.12: a P/E of 14.6× is low for EPS growing 126%.
- Return on equity of 23%.
The case against
- Near the bottom of its 52-week range, 30% below the high. Falling prices usually have a reason; find it first.
- Revenue was flat on the year (+0.1%).
- Long-term debt of $5.3B against $67.0M of cash.
- Price/sales of 5.3× is higher than 96% of Materials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Materials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 64 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 61 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 81 |
| Momentumhow the price has behaved lately | 16 |
| Stabilityhow violently it moves, what it owes and what it pays you | 43 |
- Each factor except momentum is half fixed thresholds, half rank among the 26 Materials companies.
Key numbers
| Price / earnings | 14.6× |
|---|---|
| Price / book | 3.00× |
| Price / sales | 5.3× |
| Revenue growth (YoY) | +0.1% |
| EPS growth (YoY) | +125.7% |
| Gross margin | 29% |
| Operating margin | 21% |
| Net margin | 37% |
| Return on equity | 23% |
| Debt / equity | 0.52× |
| Current ratio | 1.41 |
| Dividend yield | 0.64% |
| Beta | 1.05 |
| 52-week range | $488.74 – $710.97 |
| Position in that range | 5% of the way up |
| 3-month return | -18.0% |
| 1-year return | -19.2% |
Five years of financials, as filed
Pulled from Martin Marietta Materials's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $6.2B | $5.7B | $5.9B | $6.2B | $5.4B |
| Gross profit | $1.9B | $1.6B | $1.7B | $1.4B | $1.3B |
| Operating income | $1.4B | $2.5B | $1.3B | $1.2B | $974M |
| Net income | $1.1B | $2.0B | $1.2B | $867M | $703M |
| Operating cash flow | $1.8B | $1.5B | $1.5B | $991M | $1.1B |
| Capital expenditure | $807M | $855M | $650M | $482M | $423M |
| Total assets | $18.7B | $18.2B | $15.1B | $15.0B | $14.4B |
| Total liabilities | $8.7B | $8.7B | $7.1B | $7.8B | $7.9B |
| Shareholder equity | $10.0B | $9.5B | $8.0B | $7.2B | $6.5B |
| Cash | $67.0M | $670M | $1.3B | $358M | $258M |
| Long-term debt | $5.3B | $5.3B | $3.9B | $4.3B | $5.1B |
| Free cash flow | $978M | $604M | $878M | $509M | $715M |
| Gross margin | 30.7% | 28.9% | 29.8% | 23.1% | 24.9% |
| Operating margin | 23.4% | 43.8% | 22.8% | 19.6% | 18.0% |
| Net margin | 18.5% | 35.2% | 20.0% | 14.1% | 13.0% |
| Diluted shares | 60.6M | 61.6M | 62.1M | 62.5M | 62.6M |
Share count is down 3.2% over 4 years. Buybacks have been shrinking the pie.