Martin Marietta Materials, Inc.

MLM · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994
Valuation
Market cap	$37,551	$31,567	$30,836	$20,985	$27,480	$17,715	$17,444	$10,722	$13,789	$13,819	$8,520	$6,272	$4,614	$4,321	$3,443	$4,196	$3,934	$4,016	$5,656	$4,723	$3,571	$2,586	$2,302	$1,495	$2,232	$1,974	$1,913	$2,889	$1,683	$1,069	$949	$801
Enterprise value	$42,809	$36,704	$34,292	$26,057	$32,758	$20,595	$20,686	$13,800	$15,373	$15,458	$9,934	$7,751	$5,642	$5,383	$4,516	$5,201	$4,963	$5,384	$6,766	$5,404	$4,186	$3,149	$2,895	$2,225	$3,032	$2,621	$2,552	$3,492	$1,976	$1,204	$1,183	$914
P/E (TTM) at period end	33.03×	15.82×	26.38×	24.20×	39.12×	24.57×	28.55×	22.85×	19.39×	32.62×	29.63×	40.48×	38.18×	51.15×	42.13×	43.69×	46.03×	22.79×	21.53×	19.24×	18.53×	20.02×	24.59×	17.32×	21.18×	17.63×	15.21×	24.99×	17.08×	13.60×	14.03×	14.92×
P/S (TTM) at period end	6.11×	5.58×	5.27×	3.41×	5.08×	3.75×	3.68×	2.53×	3.48×	3.62×	2.41×	2.12×	2.14×	2.13×	2.01×	2.54×	2.50×	1.90×	2.58×	2.16×	1.81×	1.50×	1.41×	0.94×	1.40×	1.30×	1.33×	2.40×	1.87×	1.48×	1.43×	1.60×
P/B at period end	3.74×	3.34×	3.84×	2.93×	4.20×	3.01×	3.26×	2.17×	2.95×	3.34×	2.10×	1.44×	3.00×	3.06×	2.44×	2.94×	2.88×	3.93×	5.98×	3.77×	3.04×	2.24×	2.04×	1.38×	2.18×	2.29×	2.47×	4.33×	3.00×	2.22×	2.24×	2.13×
EV / EBITDA (TTM)	20.64×	12.03×	18.58×	15.21×	22.98×	14.72×	16.46×	13.34×	15.41×	16.06×	13.11×	14.10×	14.40×	16.15×	13.50×	13.69×	13.70×	10.89×	11.73×	10.16×	9.26×	8.68×	8.54×	7.02×	8.48×	7.74×	7.50×	11.82×	8.15×	6.62×	7.25×	6.78×
EV / Sales (TTM)	6.96×	6.48×	5.86×	4.23×	6.05×	4.35×	4.37×	3.25×	3.88×	4.05×	2.81×	2.62×	2.62×	2.65×	2.64×	3.15×	3.15×	2.54×	3.08×	2.47×	2.12×	1.83×	1.78×	1.40×	1.90×	1.73×	1.78×	2.91×	2.19×	1.67×	1.78×	1.82×
Returns
Return on equity	11.3%	21.1%	14.6%	12.1%	10.7%	12.2%	11.4%	9.5%	15.2%	10.2%	7.1%	3.6%	7.9%	6.0%	5.8%	6.7%	6.3%	17.3%	27.8%	19.6%	16.4%	11.2%	8.3%	8.0%	10.3%	13.0%	16.3%	17.3%	17.5%	16.3%	16.0%	14.3%
Return on invested capital	7.6%	13.0%	9.4%	7.7%	6.8%	9.3%	8.4%	7.0%	11.2%	8.2%	6.3%	3.5%	6.2%	5.3%	5.1%	6.2%	5.8%	9.6%	14.2%	14.0%	12.6%	9.3%	8.1%	7.3%	7.4%	8.9%	9.9%	10.3%	12.4%	12.9%	10.6%	12.1%
Dividend yield	0.5%	0.6%	0.6%	0.8%	0.5%	0.8%	0.7%	1.1%	0.8%	0.8%	1.3%	1.5%	1.6%	1.7%	2.1%	1.8%	1.8%	1.6%	0.9%	1.0%	1.1%	1.4%	1.5%	1.9%	1.2%	1.3%	1.3%	0.8%	1.3%	2.0%	2.1%	1.3%
Financial health
Current ratio	3.57×	2.44×	3.35×	1.99×	2.69×	3.34×	1.70×	1.74×	3.79×	1.99×	2.95×	2.63×	3.59×	4.04×	3.79×	1.81×	2.29×	1.91×	1.24×	1.88×	3.01×	3.06×	2.74×	2.55×	2.58×	2.25×	2.21×	2.43×	2.98×	3.08×	1.81×	3.38×
Debt / equity	0.53×	0.57×	0.54×	0.70×	0.78×	0.45×	0.52×	0.63×	0.65×	0.41×	0.39×	0.36×	0.67×	0.74×	0.75×	0.72×	0.92×	1.33×	1.20×	0.57×	0.61×	0.63×	0.64×	0.69×	0.78×	0.75×	0.83×	0.93×	0.56×	0.27×	0.55×	0.29×
Effective tax rate	19.2%	23.2%	19.1%	21.5%	17.9%	18.9%	18.2%	18.3%	(15.3%)	29.9%	30.2%	38.1%	26.8%	16.7%	20.9%	23.8%	23.5%	29.2%	30.6%	30.5%	27.2%	30.7%	30.0%	26.1%	33.8%	33.6%	35.3%	33.6%	34.9%	33.9%	34.9%	35.5%
Share count
Diluted shares outstanding	61	62	62	62	63	62	63	63	63	64	67	57	46	46	46	46	44	42	43	46	47	49	49	49	48	47	47	47	46	46	46	45

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994
Revenue and gross profit
Revenue	$6,689	$6,150	$5,662	$5,851	$6,161	$5,414	$4,730	$4,739	$4,244	$3,966	$3,819	$3,540	$2,958	$2,156	$2,032	$1,714	$1,653	$1,573	$2,116	$2,195	$2,191	$1,975	$1,720	$1,627	$1,589	$1,594	$1,518	$1,434	$1,202	$901	$722	$664	$502
Cost of revenue	($4,805)	($4,261)	($4,026)	($4,106)	($4,738)	($4,066)	($3,477)	($3,560)	($3,278)	($2,994)	($2,907)	($2,813)	($2,438)	($1,792)	($1,705)	($1,412)	($1,331)	($1,242)	($1,646)	($1,626)	($1,666)	($1,546)	($1,374)	($1,314)	($1,301)	($1,299)	($1,214)	($999)	($821)	($586)	($478)	($442)	($320)
Gross profit	$1,884	$1,889	$1,636	$1,745	$1,423	$1,348	$1,253	$1,179	$967	$972	$912	$727	$520	$364	$327	$302	$322	$332	$471	$569	$525	$429	$347	$313	$287	$295	$304	$435	$380	$315	$244	$223	$182
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	($1)	($35)	($19)	($0)	($0)	($1)	($1)	($1)	($1)	($1)	($1)	($0)	($1)	($2)	($3)	($3)	($3)	($2)	($2)	–
Selling, general and administrative	($462)	($443)	($429)	($425)	($397)	($351)	($306)	($303)	($281)	($262)	($242)	($211)	($168)	($150)	($138)	($124)	($130)	($136)	($151)	($155)	($147)	($131)	($127)	($120)	($113)	($92)	($99)	($93)	($82)	($69)	($60)	($60)	($47)
Total operating expenses	($504)	($452)	$843	($412)	($216)	($375)	($247)	($294)	($276)	($272)	($234)	($233)	($193)	($146)	($171)	($141)	($123)	($149)	($147)	($138)	($135)	($115)	($117)	($114)	($109)	($92)	($101)	($220)	($184)	($152)	($123)	($115)	($90)
Total costs and expenses	($5,309)	($4,713)	($3,183)	($4,518)	($4,954)	($4,440)	($3,724)	($3,854)	($3,554)	($3,265)	($3,141)	($3,045)	($2,631)	($1,938)	($1,876)	($1,553)	($1,454)	($1,390)	($1,793)	($1,764)	($1,801)	($1,661)	($1,490)	($1,428)	($1,410)	($1,391)	($1,315)	($1,219)	($1,005)	($738)	($601)	($557)	($410)
Operating income	$1,380	$1,437	$2,479	$1,333	$1,207	$974	$1,005	$885	$691	$700	$677	$494	$327	$218	$156	$161	$198	$183	$323	$431	$391	$314	$230	$199	$178	$203	$202	$215	$197	$163	$121	$108	$92
Earnings
EBITDA	$2,067	$2,074	$3,052	$1,846	$1,713	$1,426	$1,399	$1,256	$1,035	$998	$963	$758	$550	$392	$333	$334	$380	$362	$495	$577	$532	$452	$363	$339	$317	$358	$339	$340	$295	$242	$182	$163	$135
Interest income	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($232)	($230)	($169)	($165)	($169)	($143)	($118)	($129)	($137)	($92)	($82)	($76)	($66)	($53)	($53)	($59)	($68)	($73)	($74)	($61)	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,166	$1,226	$2,366	$1,226	$1,091	$856	$889	$748	$576	$619	$607	$414	$249	$164	$104	$101	$130	$111	$247	$376	$353	$273	$188	$156	$123	$153	$169	$194	$174	$151	$119	$104	$90
Income tax expense	($237)	($236)	($550)	($234)	($235)	($153)	($168)	($136)	($106)	$94	($182)	($125)	($95)	($44)	($17)	($21)	($31)	($26)	($72)	($115)	($108)	($74)	($58)	($47)	($32)	($52)	($57)	($69)	($59)	($53)	($40)	($36)	($32)
Net income	$2,457	$1,137	$1,995	$1,169	$867	$702	$721	$612	$470	$713	$425	$289	$156	$121	$84	$82	$97	$85	$176	$263	$245	$193	$129	$94	$86	$105	$112	$126	$116	$98	$79	$68	$54
Per share
Diluted EPS (GAAP)	$40.70	$18.77	$32.41	$18.82	$13.87	$11.22	$11.54	$9.74	$7.43	$11.25	$6.63	$4.29	$2.71	$2.61	$1.83	$1.78	$2.10	$1.91	$4.18	$6.06	$5.29	$4.08	$2.66	$1.91	$1.77	$2.19	$2.39	$2.68	$2.48	$2.13	$1.71	$1.47	$1.19
Basic EPS (GAAP)	$40.78	$18.81	$32.50	$18.88	$13.91	$11.26	$11.56	$9.77	$7.46	$11.30	$6.66	$4.31	$2.73	$2.62	$1.83	$1.79	$2.11	$1.92	$4.20	$6.16	$5.40	$4.14	$2.68	$1.91	$1.77	$2.20	$2.40	$2.70	$2.49	$2.14	$1.71	$1.47	$1.19
Basic shares outstanding	60	60	61	62	62	62	62	62	63	63	64	67	57	46	46	46	45	44	41	43	45	47	48	49	49	48	47	47	46	46	46	46	45
Margins
Gross margin	28.2%	30.7%	28.9%	29.8%	23.1%	24.9%	26.5%	24.9%	22.8%	24.5%	23.9%	20.5%	17.6%	16.9%	16.1%	17.6%	19.5%	21.1%	22.2%	25.9%	24.0%	21.7%	20.1%	19.3%	18.1%	18.5%	20.0%	30.4%	31.7%	35.0%	33.8%	33.5%	36.3%
Operating margin	20.6%	23.4%	43.8%	22.8%	19.6%	18.0%	21.3%	18.7%	16.3%	17.7%	17.7%	14.0%	11.1%	10.1%	7.7%	9.4%	12.0%	11.6%	15.3%	19.6%	17.8%	15.9%	13.4%	12.2%	11.2%	12.7%	13.3%	15.0%	16.4%	18.1%	16.7%	16.2%	18.3%
Net margin	36.7%	18.5%	35.2%	20.0%	14.1%	13.0%	15.2%	12.9%	11.1%	18.0%	11.1%	8.2%	5.3%	5.6%	4.2%	4.8%	5.9%	5.4%	8.3%	12.0%	11.2%	9.8%	7.5%	5.8%	5.4%	6.6%	7.4%	8.8%	9.6%	10.9%	10.9%	10.2%	10.7%

Analyst consensus

Buy40 analysts

Bearish · 0 · Hold · 15 · Bullish · 25

Earnings history

	EPS	Estimate
Q3 2024	$5.91	$6.28	Miss
Q4 2024	$4.79	$4.62	Beat
Q1 2025	$1.90	$1.88	Beat
Q2 2025	$5.43	$5.31	Beat
Q3 2025	$5.97	$6.72	Miss
Q4 2025	$3.85	$4.78	Miss
Q1 2026	$1.93	$1.78	Beat
Q2 2026	$5.00	$4.76	Beat

Peers

Company overview

IPO dateFeb 17, 1994

CEOC. Howard Nye

Employees9,600

SectorBasic Materials

IndustryConstruction Materials

CountryUS

ExchangeNew York Stock Exchange

Websitewww.martinmarietta.com

Martin Marietta Materials, Inc. functions as a company specializing in natural resource-derived building materials. This enterprise delivers a wide range of aggregates and other heavy construction components to the building industry, serving both domestic and international markets. Its product portfolio includes foundational raw materials like crushed stone, sand, and gravel, in addition to manufactured items such as ready-mix concrete, asphalt, and comprehensive paving solutions. These offerings are essential for infrastructure projects, commercial and residential developments, and various other sectors including railroads, agriculture, utilities, and environmental applications. Beyond its core construction offerings, Martin Marietta also produces magnesia-based chemicals, which are utilized in industrial, agricultural, and environmental contexts. The company further supplies dolomitic lime, primarily for steel manufacturing and soil stabilization. Its broader chemical products contribute to areas such as flame retardants, wastewater treatment, and pulp and paper production, among other environmental uses. Established in 1939, the firm's main office is situated in Raleigh, North Carolina.

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