Martin Marietta Materials, Inc. (MLM) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Construction Materials
EV/EBITDA
↓
19.21
+12% vs avg
5yr avg: 17.16
30Y Low6.6·High23.0
P/FCF
↓
37.04
↓-10% vs avg
5yr avg: 41.31
30Y Low14.7·High66.7
P/B Ratio
↓
3.62
-0% vs avg
5yr avg: 3.63
30Y Low1.4·High6.1
ROE
↑
11.7%
↑-21% vs avg
5yr avg: 14.8%
30Y Low5%·High24%
Debt/EBITDA
↓
2.47
↓-9% vs avg
5yr avg: 2.71
30Y Low0.7·High3.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MLM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Martin Marietta Materials, Inc. trades at 31.9x earnings, 15% above its 5-year average of 27.8x, sitting at the 70th percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.4x, the stock trades at a premium of 37%. On a free-cash-flow basis, the stock trades at 37.0x P/FCF, 10% below the 5-year average of 41.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $36.2B | $37.7B | $31.8B | $31.0B | $21.1B | $27.6B | $17.7B | $17.5B | $10.8B | $14.0B | $14.1B |
| Enterprise Value | $41.5B | $42.9B | $37.0B | $34.4B | $26.2B | $32.9B | $20.6B | $20.8B | $13.9B | $15.6B | $15.8B |
| P/E Ratio → | 31.95 | 33.12 | 15.94 | 26.51 | 24.37 | 39.26 | 24.61 | 28.71 | 23.13 | 19.65 | 33.41 |
| P/S Ratio | 5.54 | 5.76 | 4.87 | 4.57 | 3.43 | 5.09 | 3.75 | 3.70 | 2.56 | 3.52 | 3.70 |
| P/B Ratio | 3.62 | 3.75 | 3.36 | 3.86 | 2.94 | 4.22 | 3.01 | 3.28 | 2.19 | 2.98 | 3.42 |
| P/FCF | 37.04 | 38.52 | 52.68 | 35.29 | 41.50 | 38.59 | 25.67 | 30.62 | 32.95 | 56.49 | 46.90 |
| P/OCF | 20.29 | 21.10 | 21.81 | 20.28 | 21.31 | 24.24 | 16.87 | 18.15 | 15.38 | 21.24 | 20.53 |
P/E links to full P/E history page with 30-year chart
MLM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Martin Marietta Materials, Inc.'s enterprise value stands at 19.2x EBITDA, 12% above its 5-year average of 17.2x. The Basic Materials sector median is 11.2x, placing the stock at a 72% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.56 | 5.65 | 5.08 | 4.25 | 6.07 | 4.35 | 4.38 | 3.28 | 3.92 | 4.13 |
| EV / EBITDA | 19.21 | 19.88 | 11.27 | 16.33 | 15.29 | 23.05 | 14.72 | 16.53 | 13.45 | 15.59 | 16.40 |
| EV / EBIT | 27.25 | 28.30 | 13.36 | 20.77 | 20.79 | 32.91 | 20.45 | 23.67 | 19.52 | 21.89 | 22.92 |
| EV / FCF | — | 43.89 | 61.18 | 39.22 | 51.46 | 45.97 | 29.83 | 36.28 | 42.30 | 62.88 | 52.32 |
MLM Profitability
Margins and return-on-capital ratios measuring operating efficiency
Martin Marietta Materials, Inc. earns an operating margin of 23.3%, above the Basic Materials sector average of 10.2%. ROE of 11.7% is modest. ROIC of 7.6% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.0% | 30.0% | 28.7% | 29.9% | 23.1% | 24.9% | 26.5% | 24.9% | 22.8% | 24.5% | 23.9% |
| Operating Margin | 23.3% | 23.3% | 41.4% | 23.6% | 19.6% | 18.0% | 21.3% | 18.7% | 16.3% | 17.7% | 17.7% |
| Net Profit Margin | 17.4% | 17.4% | 30.5% | 17.2% | 14.1% | 13.0% | 15.2% | 12.9% | 11.1% | 18.0% | 11.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.7% | 11.7% | 22.8% | 15.4% | 12.6% | 11.3% | 12.8% | 11.9% | 9.8% | 16.2% | 10.4% |
| ROA | 6.2% | 6.2% | 12.0% | 7.8% | 5.9% | 5.6% | 7.0% | 6.2% | 5.1% | 8.8% | 6.0% |
| ROIC | 7.6% | 7.6% | 15.6% | 10.1% | 7.5% | 7.1% | 8.7% | 8.0% | 7.3% | 8.7% | 9.0% |
| ROCE | 8.7% | 8.7% | 17.4% | 11.6% | 8.9% | 8.2% | 10.4% | 9.8% | 8.1% | 9.3% | 10.1% |
MLM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Martin Marietta Materials, Inc. carries a Debt/EBITDA ratio of 2.5x, which is manageable (8% below the sector average of 2.7x). Net debt stands at $5.3B ($5.3B total debt minus $67M cash). Interest coverage of 6.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.53 | 0.53 | 0.61 | 0.59 | 0.76 | 0.85 | 0.52 | 0.61 | 0.63 | 0.65 | 0.41 |
| Debt / EBITDA | 2.47 | 2.47 | 1.77 | 2.24 | 3.17 | 3.88 | 2.21 | 2.59 | 3.02 | 3.03 | 1.75 |
| Net Debt / Equity | — | 0.52 | 0.54 | 0.43 | 0.71 | 0.81 | 0.49 | 0.61 | 0.62 | 0.34 | 0.39 |
| Net Debt / EBITDA | 2.43 | 2.43 | 1.57 | 1.64 | 2.96 | 3.70 | 2.06 | 2.58 | 2.97 | 1.58 | 1.70 |
| Debt / FCF | — | 5.37 | 8.50 | 3.93 | 9.96 | 7.38 | 4.17 | 5.66 | 9.35 | 6.39 | 5.42 |
| Interest Coverage | 6.62 | 6.62 | 16.36 | 10.05 | 7.46 | 7.00 | 8.53 | 6.79 | 5.20 | 7.76 | 8.43 |
MLM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Martin Marietta Materials, Inc.'s current ratio of 3.57x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.36x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 3.35x to 3.57x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.57 | 3.57 | 2.50 | 3.35 | 1.99 | 2.69 | 3.34 | 1.70 | 1.74 | 3.79 | 1.99 |
| Quick Ratio | 2.36 | 2.36 | 1.40 | 2.50 | 1.39 | 1.69 | 1.92 | 0.88 | 0.89 | 2.92 | 1.03 |
| Cash Ratio | 0.07 | 0.07 | 0.66 | 1.09 | 0.25 | 0.34 | 0.42 | 0.03 | 0.06 | 2.08 | 0.09 |
| Asset Turnover | — | 0.35 | 0.36 | 0.45 | 0.41 | 0.38 | 0.45 | 0.47 | 0.44 | 0.44 | 0.52 |
| Inventory Turnover | 4.25 | 4.25 | 4.18 | 4.81 | 5.42 | 5.40 | 4.90 | 5.15 | 4.94 | 4.98 | 5.57 |
| Days Sales Outstanding | — | 40.33 | 37.86 | 40.56 | 46.56 | 52.18 | 44.38 | 44.19 | 45.00 | 44.85 | 43.77 |
MLM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Martin Marietta Materials, Inc. returns 1.8% to shareholders annually — split between a 0.5% dividend yield and 1.2% buyback yield. The payout ratio of 17.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.5% | 0.6% | 0.6% | 0.8% | 0.5% | 0.8% | 0.7% | 1.1% | 0.8% | 0.7% |
| Payout Ratio | 17.3% | 17.3% | 9.5% | 14.9% | 18.5% | 21.0% | 19.5% | 21.2% | 24.8% | 15.3% | 24.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 3.0% | 6.3% | 3.8% | 4.1% | 2.5% | 4.1% | 3.5% | 4.3% | 5.1% | 3.0% |
| FCF Yield | 2.7% | 2.6% | 1.9% | 2.8% | 2.4% | 2.6% | 3.9% | 3.3% | 3.0% | 1.8% | 2.1% |
| Buyback Yield | 1.2% | 1.2% | 1.4% | 0.5% | 0.7% | 0.0% | 0.4% | 0.7% | 1.0% | 0.8% | 1.9% |
| Total Shareholder Yield | 1.8% | 1.7% | 2.0% | 1.0% | 1.5% | 0.5% | 1.2% | 1.5% | 2.1% | 1.6% | 2.6% |
| Shares Outstanding | — | $61M | $62M | $62M | $63M | $63M | $62M | $63M | $63M | $63M | $64M |
Peer Comparison
Compare MLM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MLMYou | $36B | 31.9 | 19.2 | 37.0 | 30.0% | 23.3% | 11.7% | 7.6% | 2.5 |
 VMC | $37B | 35.6 | 18.3 | 33.0 | 27.3% | 20.1% | 13.0% | 8.8% | 2.3 |
 USLM | $3B | 23.4 | 15.1 | 30.6 | 48.8% | 42.4% | 23.8% | 48.5% | 0.0 |
 MDU | $5B | 24.2 | 14.7 | — | 21.6% | 15.5% | 7.0% | 4.2% | 5.5 |
 CRH | $75B | 20.4 | 12.1 | 29.9 | 36.1% | 14.2% | 15.7% | 10.7% | 2.6 |
 EXP | $7B | 15.4 | 10.6 | 19.3 | 29.8% | 26.5% | 33.5% | 17.6% | 1.7 |
 BCPC | $5B | 33.6 | 19.8 | 29.5 | 35.7% | 21.1% | 12.9% | 12.2% | 0.7 |
 CAT | $417B | 47.6 | 33.4 | 40.6 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 DE | $157B | 31.4 | 20.0 | 48.7 | 36.5% | 18.8% | 19.3% | 7.7% | 6.0 |
 CMI | $94B | 33.3 | 20.0 | 39.5 | 25.3% | 11.5% | 23.0% | 16.1% | 1.6 |
 URI | $59B | 24.5 | 10.6 | 89.3 | 35.4% | 24.7% | 28.4% | 12.4% | 2.3 |
| Basic Materials Median | — | 23.4 | 11.2 | 28.0 | 31.6% | 10.2% | 1.0% | 4.4% | 2.7 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full MLM Stock Analysis
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Start ComparisonMLM — Frequently Asked Questions
Quick answers to the most common questions about buying MLM stock.
What is Martin Marietta Materials, Inc.'s P/E ratio?
Martin Marietta Materials, Inc.'s current P/E ratio is 31.9x. The historical average is 27.3x. This places it at the 70th percentile of its historical range.
What is Martin Marietta Materials, Inc.'s EV/EBITDA?
Martin Marietta Materials, Inc.'s current EV/EBITDA is 19.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
What is Martin Marietta Materials, Inc.'s ROE?
Martin Marietta Materials, Inc.'s return on equity (ROE) is 11.7%. The historical average is 12.8%.
Is MLM stock overvalued?
Based on historical data, Martin Marietta Materials, Inc. is trading at a P/E of 31.9x. This is at the 70th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Martin Marietta Materials, Inc.'s dividend yield?
Martin Marietta Materials, Inc.'s current dividend yield is 0.54% with a payout ratio of 17.3%.
What are Martin Marietta Materials, Inc.'s profit margins?
Martin Marietta Materials, Inc. has 30.0% gross margin and 23.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Martin Marietta Materials, Inc. have?
Martin Marietta Materials, Inc.'s Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.