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Martin Marietta Materials, Inc.

MLM Basic Materials Building Materials

Martin Marietta Materials, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.2 billion, up 8.62% from fiscal 2024.

Revenue
+28.3%
EPS
−42.6%
Free cash flow
+18.0%
Total debt
+132.2%

Quarter to September 2026, against a year earlier

527.48 29.08 −5.22%
Market cap
$37.5B
P/E
13.9×
Fwd P/E
36.6×
Dividend yield
0.63%
F-score
7/9
Altman Z
3.81
Beneish M
−2.70
Dividend safety
80/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • East Group
  • West Group
  • Specialties

Every year since 2009 →

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 8.32%

Capital & Financial Ratios $m

Size
Market Cap 37,490.00
Revenue ttm 7,211.00
Net income ttm 2,299.00
Free cash flow ttm 875.00
Net debt Q 12,671.00
Valuation
P/E 13.93
Forward P/E 36.60 (above 35: high)
Price / sales 4.75
Forward P/S Powerpack
Price / FCF 39.18
Price / book 2.97
Financial health
Current ratio Q 1.63 (at or above 1.5: strong)
Debt / equity Q 0.73
Interest coverage Q 3.17
Growth
Revenue growth Q +28.33% (above 0%: growing)
Operating income growth Q −13.27% (below 0%: shrinking)
EPS, this year +1.67%
EPS, next year A +17.45% (at or above 15%: strong)
Revenue, next year A +27.04% (at or above 10%: strong)
EPS, past 5 yrs +10.22%
EPS, next 5 yrs A +12.21%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.5×, against a ten-year median of 4.3×; over the ten years it ranged from 2.8× in 2016 to 8.2× in 2024.
P/E against its own 10 years 3.92%
10-year low 10-year high
P/S against its own 10 years 72.17%
10-year low 10-year high
P/B against its own 10 years 31.06%
10-year low 10-year high
EV/Sales against its own 10 years 82.51%
10-year low 10-year high
EV/FCF against its own 10 years 75.76%
10-year low 10-year high

Dividends raised every year since 2017

Yield
0.63%
Annual rate
3.33
Payout ratio
8.81%
Growth, 2017–25
+8.24%/yr
  1. 1.72 ’17
  2. 1.84 ’18 +7
  3. 2.06 ’19 +12
  4. 2.24 ’20 +9
  5. 2.36 ’21 +5
  6. 2.54 ’22 +8
  7. 2.80 ’23 +10
  8. 3.06 ’24 +9
  9. 3.24 ’25 +6
  10. 3.46 ’26e +7
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,282 670 67 152
Receivables 753 678 723 1,302
Inventory 989 1,018 1,078 1,243
Other 895 83 1,325 119
3,919 2,449 3,193 2,816
2023 2024 2025 Q'26
Payables 343 375 389 —
ST’ Debt 400 125 30 720
Other 178 183 212 1,010
1,170 1,002 895 1,730

Compound Annual Growth %

10y 5y 3y
Sales 5.68% 5.39% (0.06%)
Cash Flow 11.89% 11.19% 21.67%
Earnings 14.69% 9.54% 9.46%
Book Value 9.47% 11.23% 11.84%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 5.27 Actual 5.47

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 4.68 3.85 Miss by 0.83
Q1 FY26 1.76 1.93 Beat by 0.17
Q2 FY26 4.62 5.00 Beat by 0.38
Q3 FY26 5.27 5.47 Beat by 0.20
Q4 FY26 4.28 — Reports 10 February 2027

EPS $

Mar Jun Sep Dec Year
’26 25.06 4.17 3.93 — —
’25 1.90 5.43 6.85 4.62 18.77
’24 16.87 4.76 5.91 4.79 32.41
’23 1.95 5.61 6.72 4.55 18.82
’22 0.34 5.86 4.73 2.95 13.87
’21 1.04 3.61 4.07 2.50 11.22
’20 0.41 3.49 4.71 2.93 11.54
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,362 1,947 2,369 — —
’25 1,162 1,609 1,846 1,533 6,150
’24 1,056 1,552 1,642 1,412 5,662
’23 1,354 1,821 1,994 682 5,851
’22 1,231 1,642 1,812 1,477 6,161
’21 982 1,378 1,557 1,496 5,414
’20 958 1,271 1,321 1,180 4,730
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 227 112 557 — —
’25 218 387 551 629 1,785
’24 172 1 600 686 1,459
’23 161 358 454 555 1,528
’22 170 116 275 430 991
’21 192 249 339 357 1,138
’20 107 267 311 366 1,050
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 41 (16) 426 — —
’25 (15) 208 361 424 978
’24 (28) (138) 317 453 604
’23 (13) 239 283 369 878
’22 31 34 186 257 509
’21 82 147 231 256 715
’20 3 195 236 257 690
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 19.1% a year for ten years. It grew 12.1% a year over the last ten.

Implied
19.1%
10 years, reported
12.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,819 3,966 4,244 4,739 4,730 5,414 6,161 5,851 5,662 6,150 7,211 +5.4% 7,813 9,599 10,238 +18.5%
Gross margin, % 23.88 24.51 22.77 24.88 26.49 24.91 23.10 29.82 28.89 30.72 26.67 +6.8 pt
EBT 607 619 576 748 889 856 1,091 1,226 2,366 1,226 1,029 +8.1%
EBT margin, % 15.90 15.61 13.57 15.79 18.80 15.80 17.71 20.95 41.79 19.93 14.27 +4.0 pt
Net income 425 713 470 612 721 703 867 1,170 1,996 1,137 2,299 +11.5%
Per share, $
Per share, $ Revenue 60.03 63.05 67.48 75.83 75.92 86.76 98.89 94.52 92.22 101.65 110.94 +6.0%
Earnings 6.66 11.30 7.46 9.77 11.56 11.26 13.91 18.88 32.50 18.81 37.86 +12.2%
Cash flow 10.83 10.45 11.21 15.46 16.86 18.23 15.91 24.69 23.76 29.50 23.46 +11.8%
Capex (6.09) (6.52) (5.98) (6.30) (5.77) (6.78) (7.74) (10.50) (13.93) (13.34) (10.00) +9.1%
Free cash flow 4.74 3.93 5.23 9.16 11.08 11.45 8.17 14.18 9.84 16.17 13.46 +14.6%
Book value 65.12 74.44 78.69 85.65 94.60 104.77 115.13 129.82 154.01 165.85 271.71 +10.9%
Shares, m 64 63 63 63 62 62 62 62 61 61 61 (0.6%)
Valuation, ×
Valuation, × P/E 33.48 19.89 23.04 28.62 24.54 39.12 24.31 25.99 15.93 33.05 13.93 26.8
P/S 3.72 3.57 2.55 3.69 3.74 5.08 3.42 5.19 5.60 6.13 4.75 4.3
P/B 3.43 3.02 2.18 3.26 3.00 4.20 2.94 3.78 3.35 3.75 2.97 3.3
EV/Sales 4.15 3.97 3.27 4.27 4.24 5.98 4.07 5.72 6.44 6.98 6.51 4.9
EV/FCF 52.51 63.62 42.19 35.33 29.06 45.34 49.21 38.11 60.36 43.89 53.67 46.0
Cash, $m
Cash, $m Operating cash flow 689 658 705 966 1,050 1,138 991 1,528 1,459 1,785 1,525 +11.2%
Capex (387) (410) (376) (393) (360) (423) (482) (650) (855) (807) (650) +8.5%
Free cash flow 302 247 329 573 690 715 509 878 604 978 875 +14.0%
Balance, $m
Balance, $m Working capital 540 1,937 579 588 1,169 1,273 1,431 2,749 1,447 2,298 1,086 +17.5%
Net debt 1,636 1,581 3,076 2,753 2,373 4,909 3,977 3,064 4,743 5,256 12,671 +13.8%
Shareholders’ equity 4,143 4,682 4,949 5,353 5,893 6,538 7,173 8,036 9,456 10,034 17,661 +10.3%
Returns, %
Returns, % ROA 5.97 8.76 5.07 6.22 6.96 5.63 5.90 7.76 11.98 6.17 8.25 +0.2 pt
ROIC 7.32 6.99 5.38 6.82 7.60 5.32 6.77 7.51 10.91 5.87 2.70 (1.4) pt
ROE 10.37 16.17 9.76 11.88 12.82 11.30 12.65 15.37 22.81 11.67 0.00 +1.3 pt
People
People Employees 8,111 8,406 8,714 8,846 8,700 10,000 9,400 9,400 9,400 9,600 — +1.9%
Revenue/emp, $m 0.47 0.47 0.49 0.54 0.54 0.54 0.66 0.62 0.60 0.64 — +3.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Martin Marietta Materials supplies building materials used to construct roads, buildings and homes. Its main products are aggregates: crushed stone, sand and gravel produced to particular sizes and specifications. Customers use them as foundations and ingredients for construction projects, as well as in agriculture, utilities, environmental applications and railroad ballast.

The company produces aggregates at quarries and mines and moves them through a network of distribution yards. As of 2025, its network spanned 28 states, Canada and The Bahamas. In selected markets, it also supplied ready mixed concrete and asphalt and offered paving services. Its cement plant and Texas ready mixed concrete operations were held for sale as of December 31, 2025, as part of an asset exchange with Quikrete.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
East Group 3,194 51.93%
West Group 2,515 40.89%
Specialties 441 7.17%
Gross margin 30.72%
Operating margin 23.37%
Pre-tax margin 19.93%

Revenue by segment since 2009

Martin Marietta Materials, Inc. vs peers in Building Materials (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CRH CRH PLC $63.5B 18.1× 17.1× +2.95% (above 0%: growing) −20.18% (below 0%: shrinking) −19.84% (below 0%: shrinking) 38.79% 18.03% Compare
MLM Martin Marietta Materials, Inc. $37.5B 13.9× 36.6× +28.33% (above 0%: growing) −42.59% (below 0%: shrinking) +18.01% (above 0%: growing) 27.48% 18.49%
VMC Vulcan Materials Company $36.6B 33.5× 32.4× −4.67% (below 0%: shrinking) −1.02% (below 0%: shrinking) −54.16% (below 0%: shrinking) 30.47% 24.01% Compare
AMRZ Amrize Ltd $23.3B 19.0× 17.9× +2.20% (above 0%: growing) +3.49% (above 0%: growing) −35.58% (below 0%: shrinking) 28.67% 20.95% Compare
JHX James Hardie Industries PLC. $16.6B 115× 23.7× +63.86% (above 0%: growing) +20.00% (above 0%: growing) +145.13% (above 0%: growing) 37.21% 14.76% Compare
CX Cemex S.A.B. de C.V. $16.2B 23.8× 11.9× +8.13% (above 0%: growing) +56.61% (above 0%: growing) +1,454.19% (above 0%: growing) 35.47% 14.77% Compare
EXP Eagle Materials Inc $5.8B 15.7× 15.3× +2.17% (above 0%: growing) −14.27% (below 0%: shrinking) −15.63% (below 0%: shrinking) 26.77% 23.65% Compare
USLM United States Lime & Minerals, Inc. $3.4B 25.6× 24.3× +4.09% (above 0%: growing) −1.48% (below 0%: shrinking) +22.36% (above 0%: growing) 47.81% 42.10% Compare
KNF Knife River Corporation $3.3B 24.3× 22.6× +5.97% (above 0%: growing) −3.99% (below 0%: shrinking) −27.51% (below 0%: shrinking) 22.55% 16.79% Compare
Median of peers $16.4B 24.0× 20.3× +3.52% −1.25% −17.73% 32.97% 19.49%

All 17 Building Materials stocks →

From the latest earnings call

Updated

  • CFO Michael Petro said acquisitions lifted second-quarter aggregates shipments, while acquired businesses’ lower prices reduced the reported average selling price.
  • CEO Ward Nye said Martin Marietta had identified approximately $350 million in annual run-rate pretax cash-flow opportunities through asset use, network optimization and lower sustaining capital needs.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 94.59%
Held by the ten largest 49.03%
Holder Shares Stake Change
Vanguard 7.74m 12.89% +58.47k
BlackRock 4.69m 7.81% +6.69k
State Street 3.16m 5.26% +282.07k
Bank of America 2.45m 4.07% +46.98k
T. Rowe Price 2.24m 3.73% −200.60k
Fidelity (FMR) 2.19m 3.65% −415.38k
Principal Financial 2.12m 3.53% +22.18k
Victory Capital 1.78m 2.97% +146.29k
Geode Capital Management 1.60m 2.67% +12.56k
JPMorgan Chase 1.47m 2.44% −393.34k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 15 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 14.26m 25.74m 226.27
2024 17.72m 16.19m 186.60
2023 18.49m 35.06m 179.27
2022 12.78m 6.45m 120.63
2021 14.94m 39.03m 156.12
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Martin Marietta Materials, Inc. (MLM) Latest News

5 Nov

Impact 3 · · Simply Wall St.

4 Nov

Impact 4 · · The Motley Fool transcript
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Impact 3 · · Moby
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Impact 3 · · StockStory
Impact 3 · · Associated Press

30 Oct

Impact 3 · · Simply Wall St.

28 Oct

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26 Oct

Impact 4 · · Trefis

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31 Jul

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30 Jul

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MLM metrics, ten years each

stockrow.com/MLM · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com