Martin Marietta Materials, Inc. (MLM) 10-Year Financial Performance & Capital Metrics

MLM • • Industrial / General

Basic MaterialsConstruction MaterialsAggregates & Heavy Construction MaterialsAggregates-Focused Producers

AboutMartin Marietta Materials, Inc., a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries. The company also produces magnesia-based chemicals products that are used in industrial, agricultural, and environmental applications; and dolomitic lime primarily to customers for steel production and soil stabilization. Its chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other environmental applications. The company was founded in 1939 and is headquartered in Raleigh, North Carolina.Show more

Revenue $6.54B -3.6%
EBITDA $3.28B +55.5%
Net Income $2B +70.7%
EPS (Diluted) 32.41 +72.2%
Gross Margin 28.73% -3.7%
EBITDA Margin 50.18% +61.3%
Operating Margin 41.42% +75.9%
Net Margin 30.52% +77.0%
ROE 22.81% +48.4%
ROIC 15.57% +54.3%
Debt/Equity 0.61 +4.4%
Interest Coverage 16.02 +65.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 26.7%
✓10 consecutive years of dividend growth
✓Good 3Y average ROE of 16.9%
✓Healthy 5Y average net margin of 18.0%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.25%

5Y6.64%

3Y6.48%

TTM1.98%

Profit (Net Income) CAGR

10Y29.06%

5Y26.66%

3Y41.61%

TTM-41.95%

EPS CAGR

10Y28.17%

5Y27.18%

3Y42.42%

TTM-85.07%

ROCE

10Y Avg10.12%

5Y Avg11.3%

3Y Avg12.63%

Latest17.4%

Peer Comparison

Aggregates-Focused Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VMCVulcan Materials Company	39.87B	301.71	44.05	-4.68%	14.26%	12.82%	2.02%	0.72
KNFKnife River Corporation	4.55B	80.24	22.60	2.43%	4.87%	9.23%	3.3%	0.49
MLMMartin Marietta Materials, Inc.	38.65B	640.94	19.78	-3.56%	17.35%	11.83%	1.56%	0.61

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.54B	3.82B	3.97B	4.24B	4.74B	4.73B	5.41B	6.16B	6.78B	6.54B
Revenue Growth %	0.2%	0.08%	0.04%	0.07%	0.12%	-0%	0.14%	0.14%	0.1%	-0.04%
Cost of Goods Sold+	2.81B	2.91B	2.99B	3.28B	3.56B	3.48B	4.07B	4.74B	4.75B	4.66B
COGS % of Revenue	0.79%	0.76%	0.75%	0.77%	0.75%	0.74%	0.75%	0.77%	0.7%	0.71%
Gross Profit+	726.92M	911.74M	971.9M	966.6M	1.18B	1.25B	1.35B	1.42B	2.02B	1.88B
Gross Margin %	0.21%	0.24%	0.25%	0.23%	0.25%	0.26%	0.25%	0.23%	0.3%	0.29%
Gross Profit Growth %	0.39%	0.25%	0.07%	-0.01%	0.22%	0.06%	0.08%	0.06%	0.42%	-0.07%
Operating Expenses+	232.75M	234.47M	271.5M	275.9M	294.1M	247.4M	374.6M	216M	427M	-829M
OpEx % of Revenue	0.07%	0.06%	0.07%	0.07%	0.06%	0.05%	0.07%	0.04%	0.06%	-0.13%
Selling, General & Admin	210.75M	241.61M	262.1M	280.6M	302.7M	305.9M	351M	397M	443M	447M
SG&A % of Revenue	0.06%	0.06%	0.07%	0.07%	0.06%	0.06%	0.06%	0.06%	0.07%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	22M	-7.13M	9.4M	-4.7M	-8.6M	-58.5M	23.6M	-181M	-16M	-1.28B
Operating Income+	494.17M	677.27M	700.4M	690.7M	884.9M	1.01B	973.8M	1.21B	1.6B	2.71B
Operating Margin %	0.14%	0.18%	0.18%	0.16%	0.19%	0.21%	0.18%	0.2%	0.24%	0.41%
Operating Income Growth %	0.57%	0.37%	0.03%	-0.01%	0.28%	0.14%	-0.03%	0.24%	0.32%	0.7%
EBITDA+	757.75M	962.52M	997.6M	1.03B	1.26B	1.4B	1.43B	1.71B	2.11B	3.28B
EBITDA Margin %	0.21%	0.25%	0.25%	0.24%	0.27%	0.3%	0.26%	0.28%	0.31%	0.5%
EBITDA Growth %	0.41%	0.27%	0.04%	0.04%	0.21%	0.11%	0.02%	0.2%	0.23%	0.56%
D&A (Non-Cash Add-back)	263.59M	285.25M	297.2M	344M	371.5M	393.5M	451.7M	506M	513M	573M
EBIT	490.09M	688.71M	710.4M	713.2M	877.6M	1.01B	998.2M	1.26B	1.66B	2.77B
Net Interest Income+	-76.29M	-81.68M	-91.5M	-137.1M	-129.3M	-118.1M	-142.7M	-169M	-165M	-169M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	76.29M	81.68M	91.5M	137.1M	129.3M	118.1M	142.7M	169M	165M	169M
Other Income/Expense	-80.37M	-70.24M	-81.5M	-114.6M	-136.6M	-116.1M	-118.3M	-116M	-103M	-111M
Pretax Income+	413.8M	607.03M	618.9M	576.1M	748.3M	889.3M	855.5M	1.09B	1.49B	2.6B
Pretax Margin %	0.12%	0.16%	0.16%	0.14%	0.16%	0.19%	0.16%	0.18%	0.22%	0.4%
Income Tax+	124.86M	181.58M	-94.5M	105.7M	136.3M	168.2M	153.2M	235M	293M	600M
Effective Tax Rate %	0.7%	0.7%	1.15%	0.82%	0.82%	0.81%	0.82%	0.79%	0.78%	0.77%
Net Income+	288.79M	425.39M	713.3M	470M	611.9M	721M	702.5M	867M	1.17B	2B
Net Margin %	0.08%	0.11%	0.18%	0.11%	0.13%	0.15%	0.13%	0.14%	0.17%	0.31%
Net Income Growth %	0.86%	0.47%	0.68%	-0.34%	0.3%	0.18%	-0.03%	0.23%	0.35%	0.71%
Net Income (Continuing)	288.94M	425.44M	713.4M	470.4M	612M	721.1M	702.3M	856M	1.2B	2B
Discontinued Operations	0	0	0	0	0	0	500K	11M	-30M	0
Minority Interest	2.89M	2.61M	2.88M	3M	2.5M	2.6M	2.3M	2.3M	2M	3M
EPS (Diluted)+	4.29	6.63	11.25	7.43	9.74	11.54	11.22	13.87	18.82	32.41
EPS Growth %	0.58%	0.55%	0.7%	-0.34%	0.31%	0.18%	-0.03%	0.24%	0.36%	0.72%
EPS (Basic)	4.31	6.66	11.30	7.46	9.77	11.56	11.26	13.91	18.88	32.50
Diluted Shares Outstanding	67.02M	63.86M	63.2M	63.1M	62.7M	62.4M	62.6M	62.5M	62.1M	61.6M
Basic Shares Outstanding	66.77M	63.61M	62.9M	62.9M	62.5M	62.3M	62.4M	62.3M	61.9M	61.4M
Dividend Payout Ratio	0.37%	0.25%	0.15%	0.25%	0.21%	0.19%	0.21%	0.18%	0.15%	0.09%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.08B	1.09B	2.63B	1.37B	1.43B	1.67B	2.03B	2.88B	3.92B	2.54B
Cash & Short-Term Investments	168.41M	50.04M	1.45B	44.9M	21M	207.3M	258.4M	358M	1.27B	670M
Cash Only	168.41M	50.04M	1.45B	44.9M	21M	207.3M	258.4M	358M	1.27B	670M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	410.92M	457.91M	487.24M	523.3M	573.7M	575.1M	774M	785.9M	753M	678M
Days Sales Outstanding	42.37	43.77	44.85	45	44.19	44.38	52.18	46.56	40.56	37.86
Inventory	469.14M	521.62M	600.59M	663M	690.8M	709M	752.6M	873.7M	989M	1.11B
Days Inventory Outstanding	60.88	65.49	73.23	73.83	70.82	74.43	67.57	67.31	75.93	87.37
Other Current Assets	33.16M	56.81M	96.97M	134.6M	141.2M	176.9M	240.6M	859.3M	905M	79M
Total Non-Current Assets+	5.88B	6.21B	6.36B	8.19B	8.7B	8.91B	12.37B	12.12B	11.21B	15.63B
Property, Plant & Equipment	3.16B	3.42B	3.59B	5.16B	5.69B	5.7B	6.76B	6.7B	6.56B	10.48B
Fixed Asset Turnover	1.12x	1.12x	1.10x	0.82x	0.83x	0.83x	0.80x	0.92x	1.03x	0.62x
Goodwill	2.07B	2.16B	2.16B	2.4B	2.4B	2.41B	3.49B	3.65B	3.39B	3.77B
Intangible Assets	510.55M	511.31M	506.35M	501.3M	486.8M	508M	1.06B	847.8M	698M	730M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	141.19M	120.48M	101.9M	128M	133.4M	295.2M	1.04B	919.2M	561M	646M
Total Assets+	6.96B	7.3B	8.99B	9.55B	10.13B	10.58B	14.39B	14.99B	15.13B	18.17B
Asset Turnover	0.51x	0.52x	0.44x	0.44x	0.47x	0.45x	0.38x	0.41x	0.45x	0.36x
Asset Growth %	-0.04%	0.05%	0.23%	0.06%	0.06%	0.04%	0.36%	0.04%	0.01%	0.2%
Total Current Liabilities+	366.66M	546.59M	694.22M	786.7M	838.5M	499.3M	752.6M	1.45B	1.17B	1.02B
Accounts Payable	164.72M	178.6M	183.64M	210.8M	229.6M	207.8M	356.2M	385M	343M	375M
Days Payables Outstanding	21.38	22.42	22.39	23.47	23.54	21.81	31.98	29.66	26.33	29.38
Short-Term Debt	28.95M	180.04M	299.91M	390M	340M	0	0	699.1M	400M	125M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	79.27M	80.43M	101.46M	70.9M	115.9M	96.6M	149.5M	139.6M	178M	190M
Current Ratio	2.95x	1.99x	3.79x	1.74x	1.70x	3.34x	2.69x	1.99x	3.35x	2.50x
Quick Ratio	1.67x	1.03x	2.92x	0.89x	0.88x	1.92x	1.69x	1.39x	2.50x	1.40x
Cash Conversion Cycle	81.88	86.84	95.68	95.36	91.47	96.99	87.77	84.21	90.15	95.85
Total Non-Current Liabilities+	2.53B	2.61B	3.62B	3.82B	3.94B	4.19B	7.1B	6.38B	5.92B	7.7B
Long-Term Debt	1.55B	1.51B	2.73B	2.73B	2.43B	2.63B	5.1B	4.34B	3.95B	5.29B
Capital Lease Obligations	0	0	0	0	433.9M	410.4M	379.4M	335.9M	327M	335M
Deferred Tax Liabilities	583.46M	663.02M	410.72M	705.6M	733M	781.5M	895.3M	914.3M	874M	1.17B
Other Non-Current Liabilities	397.26M	442.56M	477.8M	379.3M	339.3M	370.5M	727.3M	784.1M	772M	906M
Total Liabilities	2.9B	3.16B	4.31B	4.6B	4.78B	4.69B	7.86B	7.82B	7.09B	8.71B
Total Debt+	1.58B	1.69B	3.03B	3.12B	3.26B	3.08B	5.53B	5.43B	4.73B	5.8B
Net Debt	1.41B	1.64B	1.58B	3.08B	3.24B	2.88B	5.28B	5.07B	3.45B	5.13B
Debt / Equity	0.39x	0.41x	0.65x	0.63x	0.61x	0.52x	0.85x	0.76x	0.59x	0.61x
Debt / EBITDA	2.08x	1.75x	3.03x	3.02x	2.59x	2.21x	3.88x	3.17x	2.24x	1.77x
Net Debt / EBITDA	1.86x	1.70x	1.58x	2.97x	2.58x	2.06x	3.70x	2.96x	1.64x	1.57x
Interest Coverage	6.48x	8.29x	7.65x	5.04x	6.84x	8.51x	6.82x	7.14x	9.67x	16.02x
Total Equity+	4.06B	4.14B	4.68B	4.95B	5.35B	5.89B	6.54B	7.17B	8.04B	9.46B
Equity Growth %	-0.07%	0.02%	0.13%	0.06%	0.08%	0.1%	0.11%	0.1%	0.12%	0.18%
Book Value per Share	60.58	64.87	74.09	78.44	85.38	94.44	104.43	114.76	129.40	153.51
Total Shareholders' Equity	4.06B	4.14B	4.68B	4.95B	5.35B	5.89B	6.54B	7.17B	8.03B	9.45B
Common Stock	643K	630K	628K	0	600K	600K	600K	600K	1M	1M
Retained Earnings	874.44M	935.57M	1.44B	1.69B	2.08B	2.61B	3.16B	3.72B	4.56B	5.92B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-105.62M	-130.69M	-129.1M	-143.6M	-145.8M	-158.4M	-97.6M	-38.5M	-49M	-13M
Minority Interest	2.89M	2.61M	2.88M	3M	2.5M	2.6M	2.3M	2.3M	2M	3M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	580.6M	688.94M	657.6M	705.1M	966.1M	1.05B	1.14B	991M	1.53B	1.46B
Operating CF Margin %	0.16%	0.18%	0.17%	0.17%	0.2%	0.22%	0.21%	0.16%	0.23%	0.22%
Operating CF Growth %	0.52%	0.19%	-0.05%	0.07%	0.37%	0.09%	0.08%	-0.13%	0.54%	-0.05%
Net Income	288.94M	425.44M	713.4M	470.4M	612M	721.1M	702.8M	867M	1.17B	2B
Depreciation & Amortization	0	0	0	0	0	0	446.4M	499.4M	507.3M	573M
Stock-Based Compensation	13.59M	20.48M	30.5M	29.3M	34.1M	30M	43M	43M	50M	58M
Deferred Taxes	85.22M	67.05M	-239.1M	85.1M	29.4M	43.8M	92.2M	-1M	-36M	-45M
Other Non-Cash Items	271.71M	267.64M	264.4M	312.7M	377M	322.6M	-31.3M	-201.4M	-12.3M	-1.33B
Working Capital Changes	-78.86M	-91.67M	-111.6M	-192.4M	-86.4M	-67.4M	-115.4M	-216M	-151M	211M
Change in Receivables	12.31M	-25.07M	-29.3M	-10.6M	-50.4M	6.1M	-194.4M	-12M	31M	81M
Change in Inventory	-21.52M	-47.38M	-79M	-22M	-27.7M	-19.3M	73.2M	-132M	-189M	-52M
Change in Payables	-40.05M	-8.12M	-17.9M	20.1M	25.9M	-34M	109.8M	-31M	-17M	17M
Cash from Investing+	88.55M	-555.02M	-386.1M	-1.95B	-385.9M	-409.7M	-3.47B	-484M	459M	-2.44B
Capital Expenditures	-318.23M	-387.27M	-410.3M	-376M	-393.5M	-359.7M	-423.1M	-482M	-650M	-855M
CapEx % of Revenue	0.09%	0.1%	0.1%	0.09%	0.08%	0.08%	0.08%	0.08%	0.1%	0.13%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	-1.4M	-16M	0	-707.5M	701.6M	10M
Cash from Financing+	-609.39M	-252.29M	1.12B	-158.4M	-604.1M	-357M	2.29B	-407M	-1.06B	373M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-107.46M	-105.04M	-108.9M	-116.4M	-129.8M	-140.3M	-147.8M	-160M	-174M	-189M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	36.91M	24.6M	5.3M	-16.1M	13.1M	300K	-26.3M	-28M	-23M	-36M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	262.37M	301.67M	247.3M	329.1M	572.6M	690.4M	714.6M	509M	878M	604M
FCF Margin %	0.07%	0.08%	0.06%	0.08%	0.12%	0.15%	0.13%	0.08%	0.13%	0.09%
FCF Growth %	0.76%	0.15%	-0.18%	0.33%	0.74%	0.21%	0.04%	-0.29%	0.72%	-0.31%
FCF per Share	3.91	4.72	3.91	5.22	9.13	11.06	11.42	8.14	14.14	9.81
FCF Conversion (FCF/Net Income)	2.01x	1.62x	0.92x	1.50x	1.58x	1.46x	1.62x	1.14x	1.31x	0.73x
Interest Paid	71.01M	73.66M	0	0	0	0	104.9M	165M	159M	158M
Taxes Paid	46.77M	124.34M	0	0	0	0	102.9M	201M	292M	382M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.87%	10.37%	16.17%	9.76%	11.88%	12.82%	11.3%	12.65%	15.37%	22.81%
Return on Invested Capital (ROIC)	6.56%	9.03%	8.72%	7.25%	7.99%	8.69%	7.1%	7.53%	10.09%	15.57%
Gross Margin	20.54%	23.88%	24.51%	22.77%	24.88%	26.49%	24.91%	23.1%	29.85%	28.73%
Net Margin	8.16%	11.14%	17.99%	11.07%	12.91%	15.24%	12.98%	14.07%	17.25%	30.52%
Debt / Equity	0.39x	0.41x	0.65x	0.63x	0.61x	0.52x	0.85x	0.76x	0.59x	0.61x
Interest Coverage	6.48x	8.29x	7.65x	5.04x	6.84x	8.51x	6.82x	7.14x	9.67x	16.02x
FCF Conversion	2.01x	1.62x	0.92x	1.50x	1.58x	1.46x	1.62x	1.14x	1.31x	0.73x
Revenue Growth	19.66%	7.89%	3.85%	7.03%	11.66%	-0.19%	14.46%	13.8%	10%	-3.56%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Building Materials Business	-	-	3.7B	3.96B	4.47B	4.49B	5.12B	5.86B	6.46B	6.22B
Building Materials Business Growth	-	-	-	7.06%	12.92%	0.43%	14.00%	14.49%	10.33%	-3.80%
Magnesia Specialties	245.88M	-	-	287.72M	271.3M	242.7M	298.7M	304M	315.4M	320M
Magnesia Specialties Growth	-	-	-	-	-5.71%	-10.54%	23.07%	1.77%	3.75%	1.46%
Aggregates	4.92B	3.31B	-	-	-	-	-	-	-	-
Aggregates Growth	-	-32.81%	-	-	-	-	-	-	-	-
Ready Mixed Concrete	657.09M	-	-	-	-	-	-	-	-	-
Ready Mixed Concrete Growth	-	-	-	-	-	-	-	-	-	-
Cement	387.95M	-	-	-	-	-	-	-	-	-
Cement Growth	-	-	-	-	-	-	-	-	-	-
Road Paving	158.61M	-	-	-	-	-	-	-	-	-
Road Paving Growth	-	-	-	-	-	-	-	-	-	-
Asphalt	72.28M	-	-	-	-	-	-	-	-	-
Asphalt Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Domestic	-	-	-	-	-	-	-	-	-	6.49B
Domestic Growth	-	-	-	-	-	-	-	-	-	-
Foreign	-	-	-	-	-	-	-	-	-	49M
Foreign Growth	-	-	-	-	-	-	-	-	-	-
West Group	1.68B	1.97B	2.28B	2.31B	2.52B	2.54B	2.81B	3.39B	3.7B	-
West Group Growth	-	17.62%	15.71%	1.32%	8.90%	0.90%	10.80%	20.49%	9.14%	-
Southeast Group	304.47M	321.08M	362.56M	423.38M	506.4M	1.95B	2.3B	2.47B	2.76B	-
Southeast Group Growth	-	5.45%	12.92%	16.78%	19.61%	284.89%	18.16%	7.17%	11.96%	-
Mid America Group	926.25M	1.02B	1.05B	1.22B	1.45B	-	-	-	-	-
Mid America Group Growth	-	9.81%	3.56%	16.13%	18.21%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Martin Marietta Materials, Inc. (MLM) has a price-to-earnings (P/E) ratio of 19.8x. This is roughly in line with market averages.

Growth & Financials

Martin Marietta Materials, Inc. (MLM) reported $6.64B in revenue for fiscal year 2024. This represents a 288% increase from $1.71B in 2011.

Martin Marietta Materials, Inc. (MLM) saw revenue decline by 3.6% over the past year.

Yes, Martin Marietta Materials, Inc. (MLM) is profitable, generating $1.15B in net income for fiscal year 2024 (30.5% net margin).

Dividend & Returns

Yes, Martin Marietta Materials, Inc. (MLM) pays a dividend with a yield of 0.48%. This makes it attractive for income-focused investors.

Martin Marietta Materials, Inc. (MLM) has a return on equity (ROE) of 22.8%. This is excellent, indicating efficient use of shareholder capital.

Martin Marietta Materials, Inc. (MLM) generated $1.01B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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