MARTIN MARIETTA MATERIALS INC MLM
Martin Marietta Materials, Inc. (the Company or Martin Marietta) is a leading natural resource-based building materials company. The Company supplies aggregates (crushed stone, sand and gravel) through its network of approximately 400 quarries, mines and distribution yards in 28 states, Canada and The Bahamas. In 2025, aggregates generated 88% of the Company's total reportable segment gross profit. As of December 31, 2025, Martin Marietta also provides other building materials, namely, cement, ready mixed concrete, asphalt and paving services in targeted markets where the Company has a notable aggregates position. The Company's heavy-side building materials are used in infrastructure, nonresidential and residential construction projects. Aggregates are also used in agricultural, utility and environmental applications and as railroad ballast. The aggregates, cement, ready mixed concrete, asphalt and paving operations are reported collectively as the "Building Materials business".
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.15B | $5.66B | $5.85B | $6.16B | $5.41B | $4.73B | $4.74B | $4.24B | $3.97B | $3.82B |
| Cost of revenue | $4.26B | $4.03B | $4.11B | $4.74B | $4.07B | $3.48B | $3.56B | $3.28B | $2.99B | $2.91B |
| Gross profit | $1.89B | $1.64B | $1.75B | $1.42B | $1.35B | $1.25B | $1.18B | $966.6M | $971.9M | $911.7M |
| SG&A | $443.0M | $429.0M | $425.0M | $397.0M | $351.0M | $305.9M | $302.7M | $280.6M | $262.1M | $241.6M |
| Operating income | $1.44B | $2.48B | $1.33B | $1.21B | $973.8M | $1.01B | $884.9M | $690.7M | $700.4M | $677.3M |
| Interest expense | $230.0M | $169.0M | $165.0M | $169.0M | $142.7M | $118.1M | $129.3M | $137.1M | $91.5M | $81.7M |
| Pre-tax income | $1.23B | $2.37B | $1.23B | $1.09B | $855.5M | $889.3M | $748.3M | $576.1M | $618.9M | $607.0M |
| Income tax | $236.0M | $550.0M | $234.0M | $235.0M | $153.2M | $168.2M | $136.3M | $105.7M | $94.5M | $181.6M |
| Net income | $1.14B | $2.00B | $1.17B | $866.7M | $702.8M | $721.0M | $611.9M | $470.0M | $713.3M | $425.4M |
| EPS, basic | 18.81 | 32.50 | 18.88 | 13.91 | 11.26 | 11.56 | 9.77 | 7.46 | 11.30 | 6.66 |
| EPS, diluted | 18.77 | 32.41 | 18.82 | 13.87 | 11.22 | 11.54 | 9.74 | 7.43 | 11.25 | 6.63 |
| Shares, diluted (wtd. avg.) | $60.6M | $61.6M | $62.1M | $62.5M | $62.6M | $62.4M | $62.7M | $63.1M | $63.2M | $63.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $67.0M | $670.0M | $1.27B | $359.0M | $259.0M | $304.4M | $21.0M | $44.9M | $1.45B | $50.0M |
| Receivables | $723.0M | $678.0M | $753.0M | $785.9M | $774.0M | $575.1M | $573.7M | $523.3M | $487.2M | — |
| Inventory | $1.08B | $1.02B | $989.0M | $873.7M | $752.6M | $709.0M | $690.8M | $663.0M | $600.6M | $521.6M |
| Total current assets | $3.19B | $2.45B | $3.92B | $2.88B | $2.03B | $1.67B | $1.43B | $1.37B | $2.63B | $1.09B |
| Property, plant and equipment | $10.29B | $9.66B | $6.19B | $6.32B | $6.34B | $5.24B | $5.21B | $5.16B | $3.59B | $3.42B |
| Goodwill | $3.61B | $3.39B | $3.39B | $3.65B | $3.49B | $2.41B | $2.40B | $2.40B | $2.16B | $2.16B |
| Other intangibles | $8.0M | $439.0M | $664.0M | $812.0M | $1.03B | $472.0M | $458.5M | $471.6M | $472.5M | $482.7M |
| Total assets | $18.71B | $18.17B | $15.12B | $14.99B | $14.39B | $10.58B | $10.13B | $9.55B | $8.99B | $7.30B |
| Accounts payable | $389.0M | $375.0M | $343.0M | $385.0M | $356.2M | $207.8M | $229.6M | $210.8M | $183.6M | $178.6M |
| Short-term debt | $30.0M | $125.0M | $400.0M | $699.1M | $100.0K | — | $340.0M | $390.0M | $299.9M | $180.0M |
| Total current liabilities | $895.0M | $1.00B | $1.17B | $1.45B | $752.6M | $499.3M | $838.5M | $786.7M | $694.2M | $546.6M |
| Long-term debt | $5.29B | $5.29B | $3.95B | $4.34B | $5.10B | $2.63B | $2.43B | $2.73B | $2.73B | $1.51B |
| Total liabilities | $8.68B | $8.71B | $7.09B | $7.82B | $7.86B | $4.69B | $4.78B | $4.60B | $4.31B | $3.16B |
| Retained earnings | $6.40B | $5.92B | $4.56B | $3.72B | $3.16B | $2.61B | $2.08B | $1.69B | $1.44B | $935.6M |
| Total equity | $10.03B | $9.45B | $8.04B | $7.17B | $6.54B | $5.89B | $5.35B | $4.95B | $4.68B | $4.14B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.78B | $1.46B | $1.53B | $991.0M | $1.14B | $1.05B | $966.1M | $705.1M | $657.6M | $688.9M |
| Depreciation and amortisation | $637.0M | $573.0M | $513.0M | $506.0M | $451.7M | $393.5M | $371.5M | $344.0M | $297.2M | $285.3M |
| Stock-based compensation | $46.0M | $58.0M | $50.0M | $43.0M | $43.0M | $30.0M | $34.1M | $29.3M | $30.5M | $20.5M |
| Capital expenditure | $807.0M | $855.0M | $650.0M | $482.0M | $423.1M | $359.7M | $393.5M | $376.0M | $410.3M | $387.3M |
| Investing cash flow | -$1.59B | -$2.44B | $459.0M | -$484.0M | -$3.47B | -$409.7M | -$385.9M | -$1.95B | -$386.1M | -$555.0M |
| Financing cash flow | -$800.0M | $373.0M | -$1.06B | -$407.0M | $2.29B | -$357.0M | -$604.1M | -$158.4M | $1.12B | -$252.3M |
| Dividends paid | $197.0M | $189.0M | $174.0M | $160.0M | $147.8M | $140.3M | $129.8M | $116.4M | $108.9M | $105.0M |
| Buybacks | $450.0M | $450.0M | $150.0M | $150.0M | $0 | $50.0M | $98.2M | $100.4M | $100.0M | $259.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-157039.
Others in SIC 1400
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| VMC | Vulcan Materials CO | $34.08B | 32.4x | 7.1% |
| HL | HECLA MINING CO/DE/ | $13.89B | 42.2x | 53.0% |
| MDU | MDU RESOURCES GROUP INC | $4.12B | 21.0x | 6.3% |
| UUUU | ENERGY FUELS INC | $3.62B | — | -15.6% |
| KNF | Knife River Corp | $3.51B | 22.4x | 8.5% |
| LEU | CENTRUS ENERGY CORP | $3.46B | 44.6x | 1.5% |
| USLM | UNITED STATES LIME & MINERALS INC | $3.35B | 25.0x | 17.3% |
| CMP | COMPASS MINERALS INTERNATIONAL INC | $1.06B | — | 11.3% |