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Martin Marietta Materials (MLM) stock

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NYSE: MLM NYSE Construction Materials Next results ~November 4, 2026

B+ Fundamentals grade

Martin Marietta Materials is a US-listed company in the construction materials industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$370

Cash-flow model

Base case. Range ~$260–$510 across our lower- and higher-growth cases (3%–13% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 33% below it.

Price used: $552.22, November 2, 2026

Martin Marietta Materials valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Martin Marietta Materials files

Where Martin Marietta Materials stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $6.69bn, up 14.8% on a year earlier, faster than 10.1% a quarter earlier. Free-cash-flow margin fell to 12.1% from 16.5% a year earlier. Operating margin narrowed to 20.6% from 23.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $222 a share, against a share price of $507. At that price, our model says the market is pricing in about 19.9% a year of cash-flow growth for five years, faster than the 4.3% a year revenue growth it has delivered.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Martin Marietta Materials's trailing-twelve-month revenue grew 14.8% year on year, with a free-cash-flow margin of 12.1%. Where it stands out: net margin of 36.7% ranks 1 of 8 construction materials companies we cover.

Our discounted-cash-flow model values the business at ~$370 per share in the base case (~$260–$510 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 15.9% while net income grew 123.2%: a 139pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 4.7 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 1.1% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $552.22 is 33% above our value per share of $370.
  • Weak cash conversion. Free cash flow was 33% of net income over the last 12 months.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 5.3% over 90 days.

Latest results: FY2026 Q2

Filed July 30, 2026
Earnings per share
$5.00 against an average estimate of $4.64: beat by 7.6%
Revenue
$1.95bn, up 21.0% on a year earlier
Share reaction
-7.8% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Guidance given
full-year revenue guidance $7.2bn to $7.4bn (full-year 2026); full-year Adjusted EBITDA from continuing operations guidance $2.36bn to $2.5bn (full-year 2026)
Next report
November 4, 2026; average EPS estimate $5.71

Martin Marietta Materials' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.2%
  • 1 week+9.6%
  • 1 month+14.5%
  • This year-10.9%
  • 1 year-9.4%
  • 5 years+39.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$6.7B
Operating margin
20.6%
Net margin
36.7%
EPS (TTM, diluted)
$40.68

Growth

Revenue growth
+14.8%
Change in growth rate
+4.7 pts
Share count change
−1.1%

Cash

Free cash flow (TTM)
$810M
FCF margin
12.1%
Stock pay % of revenue
0.7%

Earnings

Last results
July 30, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Leadership
  3. Agreement
  4. Agreement
  5. Agreement
  6. Announcement
  7. Announcement
  8. Leadership
  9. Results
  10. Guidance
  11. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Martin Marietta Materials valuation models and calculator

What the price is pricing in

The share price implies about 17.7% a year of cash-flow growth for five years.That is faster than the 4.3% a year revenue growth Martin Marietta Materials has delivered.

  • Priced in17.7%
  • Last 12 months14.8%
  • 3 years a year1.1%
  • 5 years a year4.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($544.92, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$370
Price used
$544.92close November 3, 2026
Implied change
▼ 32%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Martin Marietta Materials's free cash flow after stock-based pay with after-tax interest added back ($963M, FY2026 Q2 TTM), growing 23% and 13.2% in the next two years (forecasts, guidance and its record), then back to 8% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$260–~$510 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Martin Marietta Materials's free cash flow after stock-based pay ( $963M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Martin Marietta Materials as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.97 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$370 ~$260–$510 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$370 ~$320–$430 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$470 ~$330–$680 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$430 ~$370–$520 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$400 ~$370–$470 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Martin Marietta Materials with Construction Materials in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −29%
  • Revenue growth 5 points higher ▲ +38%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Last year's free-cash-flow margin change, if it persists ▼ −26%
  • Discount rate 1 point higher ▼ −19%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $133$216$326$470$658$902
8.5% $79$139$218$321$455$628
10% $46$92$153$232$335$466

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$126.02$206.26$207.43$162.74$267.19$274.06$427.83$330.57$491.28$511.34$620.00$552.22
Market value$8.4bn$13.2bn$13.1bn$10.3bn$16.8bn$17.1bn$26.8bn$20.7bn$30.5bn$31.5bn$37.6bn$33.4bn
+ Net debt (− = net cash)$1.4bn$1.6bn$1.6bn−$45m−$21m$2.4bn$4.8bn$4.7bn$3.1bn$4.7bn$5.3bn$5.8bn
Enterprise value$9.8bn$14.8bn$14.7bn$10.2bn$16.7bn$19.5bn$31.6bn$25.3bn$33.6bn$36.2bn$42.8bn$39.2bn
Multiples
Price / sales 2.4x3.4x3.3x2.4x3.5x3.6x4.9x3.4x5.2x5.6x6.1x5.0x
Price / earnings 29.2x31.0x18.4x21.8x27.4x23.7x38.1x23.8x26.1x15.8x33.0x13.6x
Price / free cash flow 32.2x43.7x53.0x31.2x29.3x24.8x37.5x40.6x34.7x52.2x38.4x41.2x
EV / EBITDA 13.0x15.4x14.7x9.9x13.3x14.0x22.2x14.8x18.2x11.9x20.7x19.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

65 /100

Moderate moat

How hard Martin Marietta Materials's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Cash operating profit has been a median 6.8% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 25.8%, moving by 2.5 percentage points (standard deviation) across 10 years.

  • Durability 16 / 20

    Operating margin has been a median 19.7%; its worst year was 16.7%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 9.8% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 3.3% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $2.3bn and EPS of $5.71 (range $5.02 to $6.48) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $17.09 −9% $7.8bn +27%
Next $21.19 +24% $9.6bn +23%

Next year's EPS estimate has moved −5.3% in 90 days, across 14 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −8.6% on 90 days ago. In the last 30 days, 0 analysts raised Martin Marietta Materials's forecast and 3 cut it.

Consensus EPS forecast Martin Marietta Materials, last 90 days
$16.00 $18.00 $20.00 $22.00 $24.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $18.71 Current fiscal year, 60 days ago: $18.55 Current fiscal year, 30 days ago: $17.14 Current fiscal year, 7 days ago: $17.12 Current fiscal year, Now: $17.09 $17.09 Next fiscal year, 90 days ago: $22.39 Next fiscal year, 60 days ago: $21.63 Next fiscal year, 30 days ago: $20.75 Next fiscal year, 7 days ago: $21.32 Next fiscal year, Now: $21.19 $21.19

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $18.71$22.39
60 days ago $18.55$21.63
30 days ago $17.14$20.75
7 days ago $17.12$21.32
Now $17.09$21.19

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $4.64 $5.00 +7.6%
Mar 2026 $1.83 $1.93 +5.3%
Dec 2025 $4.98 $4.62 −7.2%
Sept 2025 $6.68 $6.85 +2.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026
  • full-year revenue guidance full-year 2026 $7.2bn to $7.4bn Raised
    “Based on our strong first-half results and continued momentum, we are raising our full-year revenue guidance to a range of $7.2 billion to $7.4 billion and reaffirming our full-year Adjusted EBITDA from continuing operations guidance of $2.36 billion to $2.5 billion.” source
  • full-year Adjusted EBITDA from continuing operations guidance full-year 2026 $2.36bn to $2.5bn Non-GAAP Maintained
    “Based on our strong first-half results and continued momentum, we are raising our full-year revenue guidance to a range of $7.2 billion to $7.4 billion and reaffirming our full-year Adjusted EBITDA from continuing operations guidance of $2.36 billion to $2.5 billion.” source
  • Net earnings from continuing operations attributable to Martin Marietta Guidance 2026 about $1,043m GAAP
    “Net earnings from continuing operations attributable to Martin Marietta $ 1,043” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Martin Marietta Materials's revenue by +23.0% next year and +13.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+30.4%, weight 55%) , management guidance (+21.8%, weight 19%) and the company's own record (+8.0%, weight 26%) . How the weights are set.

Analyst recommendations

24 analysts, Oct 2026
Buy1771%
Hold729%
Sell00%

Monthly trend

  1. Oct 2026413724
  2. Sep 2026412824
  3. Aug 2026311924
  4. Jul 2026311823

Counts of recommendations published by analysts covering Martin Marietta Materials, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.1%
of tradable shares
Days to cover
3.83
at average volume
Short interest, 1 month
+10%
to October 15, 2026
Held by institutions
86%
of shares
Held by insiders
16.1%
of shares
Employees
9,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −9.4%

$609.67 on October 31, 2025 to $552.22

ThenNowEffect
Revenue (last 12 months) $5.8bn $6.7bn +14.8%
Net margin 18.9% 36.7% +94.3%
P/E multiple 33.8x 13.6x −59.8%
Share count 61m 60m +1.1%

Biggest factor: p/e multiple.

Last 3 years +26.8%

$435.41 on November 3, 2023 to $552.22

ThenNowEffect
Revenue (last 12 months) $6.5bn $6.7bn +3.5%
Net margin 14.7% 36.7% +150.4%
P/E multiple 28.6x 13.6x −52.6%
Share count 62m 60m +3.1%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MLM+56%−23%+49%+4%+21%−11%
Industry peers (median)+41%−20%+64%+22%−13%−5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MLM75%33%67%58%75%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MLM−12%−33%−16%−19%−18%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 48% from December 31, 2019 to March 23, 2020. Getting back needed a 94% gain, reached on December 3, 2020, 255 days after the low.

Price behaviour

52-week range
$471.10 – $705.09
From 52-week high
−21.7%
vs 50-day average
+10.0%
vs 200-day average
−3.7%
Volatility (1 year)
29%
Beta vs S&P 500
0.80

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±2.8%
After a week
7 up, 5 down
typical move ±3.2%
After a month
5 up, 7 down
typical move ±7.4%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 −7.8% +2.4% −5.5% −6.8%
April 30, 2026 +0.3% +1.3% −2.0% −6.7%
February 11, 2026 −6.8% −1.6% −4.6% −17.5%
November 4, 2025 −1.4% −0.8% +0.2% 0.0%
August 7, 2025 +2.2% +0.7% +2.4% +5.0%
August 4, 2025 +5.1% +1.0% +3.8% +5.9%
April 30, 2025 +3.6% +0.7% +5.9% +8.5%
April 10, 2025 +2.1% −2.7% +2.6% +14.8%
February 12, 2025 +0.5% +0.7% −4.3% −9.6%
October 30, 2024 +1.4% −2.3% +5.7% +2.8%
August 8, 2024 −0.9% +2.8% +0.3% −5.8%
April 30, 2024 −2.0% −1.9% −0.6% −5.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Martin Marietta Materials’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Martin Marietta Materials in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Martin Marietta Materials
$4.5B $5B $5.5B $6B $6.5B $7B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $6.6B Revenue (TTM), FY23 Q4: $5.9B Revenue (TTM), FY24 Q1: $5.6B Revenue (TTM), FY24 Q2: $5.3B Revenue (TTM), FY24 Q3: $4.9B Revenue (TTM), FY24 Q4: $5.7B Revenue (TTM), FY25 Q1: $5.8B Revenue (TTM), FY25 Q2: $5.8B Revenue (TTM), FY25 Q3: $6B Revenue (TTM), FY25 Q4: $6.2B Revenue (TTM), FY26 Q1: $6.4B Revenue (TTM), FY26 Q2: $6.7B $6.7B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $6.6B
FY23 Q4 $5.9B
FY24 Q1 $5.6B
FY24 Q2 $5.3B
FY24 Q3 $4.9B
FY24 Q4 $5.7B
FY25 Q1 $5.8B
FY25 Q2 $5.8B
FY25 Q3 $6B
FY25 Q4 $6.2B
FY26 Q1 $6.4B
FY26 Q2 $6.7B
Revenue growth, TTM YoY Martin Marietta Materials
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 7.5% Revenue growth, TTM YoY, FY23 Q4: -5.0% Revenue growth, TTM YoY, FY24 Q1: -11.6% Revenue growth, TTM YoY, FY24 Q2: -18.2% Revenue growth, TTM YoY, FY24 Q3: -25.8% Revenue growth, TTM YoY, FY24 Q4: -3.2% Revenue growth, TTM YoY, FY25 Q1: 3.9% Revenue growth, TTM YoY, FY25 Q2: 10.2% Revenue growth, TTM YoY, FY25 Q3: 22.2% Revenue growth, TTM YoY, FY25 Q4: 8.6% Revenue growth, TTM YoY, FY26 Q1: 10.1% Revenue growth, TTM YoY, FY26 Q2: 14.8% 14.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 7.5%
FY23 Q4 -5.0%
FY24 Q1 -11.6%
FY24 Q2 -18.2%
FY24 Q3 -25.8%
FY24 Q4 -3.2%
FY25 Q1 3.9%
FY25 Q2 10.2%
FY25 Q3 22.2%
FY25 Q4 8.6%
FY26 Q1 10.1%
FY26 Q2 14.8%
Operating margin (TTM) Martin Marietta Materials
20% 30% 40% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 22.4% Operating margin (TTM), FY23 Q4: 22.8% Operating margin (TTM), FY24 Q1: 46.1% Operating margin (TTM), FY24 Q2: 47.2% Operating margin (TTM), FY24 Q3: 47.3% Operating margin (TTM), FY24 Q4: 45.3% Operating margin (TTM), FY25 Q1: 22.9% Operating margin (TTM), FY25 Q2: 23.0% Operating margin (TTM), FY25 Q3: 23.8% Operating margin (TTM), FY25 Q4: 23.4% Operating margin (TTM), FY26 Q1: 22.4% Operating margin (TTM), FY26 Q2: 20.6% 20.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 22.4%
FY23 Q4 22.8%
FY24 Q1 46.1%
FY24 Q2 47.2%
FY24 Q3 47.3%
FY24 Q4 45.3%
FY25 Q1 22.9%
FY25 Q2 23.0%
FY25 Q3 23.8%
FY25 Q4 23.4%
FY26 Q1 22.4%
FY26 Q2 20.6%
FCF margin (TTM) Martin Marietta Materials
8% 10% 12% 14% 16% 18% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 11.5% FCF margin (TTM), FY23 Q4: 15.0% FCF margin (TTM), FY24 Q1: 15.5% FCF margin (TTM), FY24 Q2: 9.2% FCF margin (TTM), FY24 Q3: 10.5% FCF margin (TTM), FY24 Q4: 10.7% FCF margin (TTM), FY25 Q1: 10.7% FCF margin (TTM), FY25 Q2: 16.5% FCF margin (TTM), FY25 Q3: 16.7% FCF margin (TTM), FY25 Q4: 15.9% FCF margin (TTM), FY26 Q1: 16.3% FCF margin (TTM), FY26 Q2: 12.1% 12.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 11.5%
FY23 Q4 15.0%
FY24 Q1 15.5%
FY24 Q2 9.2%
FY24 Q3 10.5%
FY24 Q4 10.7%
FY25 Q1 10.7%
FY25 Q2 16.5%
FY25 Q3 16.7%
FY25 Q4 15.9%
FY26 Q1 16.3%
FY26 Q2 12.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Martin Marietta Materials took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $6.2B
  2. Cost of revenue $4.3B · 69.3%
  3. Gross profit $1.9B · 30.7%
  4. Selling, general and admin $443M · 7.2%
  5. Operating income $1.4B · 23.4%
  6. Income tax $236M · 3.8%
  7. Interest and other $64M · 1.0%
  8. Net income $1.1B · 18.5%

Shares of revenue. Source: Martin Marietta Materials's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,573 1,653 1,714 2,032 2,156 2,958 3,540 3,819 3,966 4,244 4,739 4,730 5,414 6,161 5,851 5,662 6,150 6,689
Gross profit 332 322 302 327 364 522 727 912 972 967 1,179 1,253 1,348 1,423 1,745 1,636 1,889 1,884
EBITDA 362 380 334 333 392 538 758 963 998 1,035 1,256 1,399 1,426 1,713 1,846 3,052 2,074 2,067
Operating income 183 198 161 156 218 315 494 677 700 691 885 1,005 974 1,207 1,333 2,479 1,437 1,380
Net income 85 97 82 84 121 156 289 425 713 470 612 721 703 867 1,169 1,995 1,137 2,457
Diluted EPS $1.91 $2.10 $1.78 $1.83 $2.61 $2.71 $4.29 $6.63 $11.25 $7.43 $9.74 $11.54 $11.22 $13.87 $18.82 $32.41 $18.77 $40.68
Growth (year on year)
Revenue −25.7% +5.1% +3.7% +18.6% +6.1% +37.2% +19.7% +7.9% +3.8% +7.0% +11.7% −0.2% +14.5% +13.8% −5.0% −3.2% +8.6% +14.8%
EBITDA −26.7% +4.8% −12.0% −0.3% +17.5% +37.2% +40.9% +27.0% +3.6% +3.7% +21.4% +11.3% +1.9% +20.2% +7.8% +65.3% −32.0% +5.5%
Operating income −43.4% +8.4% −18.8% −3.0% +39.6% +44.4% +56.9% +37.1% +3.4% −1.4% +28.1% +13.6% −3.1% +23.9% +10.4% +86.0% −42.0% +3.2%
Net income −51.5% +13.5% −15.1% +2.5% +43.6% +28.2% +85.6% +47.3% +67.7% −34.1% +30.2% +17.8% −2.6% +23.4% +34.8% +70.7% −43.0% +123.2%
Diluted EPS −54.3% +9.9% −15.2% +2.8% +42.6% +3.8% +58.3% +54.5% +69.7% −34.0% +31.1% +18.5% −2.8% +23.6% +35.7% +72.2% −42.1% +125.6%
Margins
Gross margin 21.1% 19.5% 17.6% 16.1% 16.9% 17.7% 20.5% 23.9% 24.5% 22.8% 24.9% 26.5% 24.9% 23.1% 29.8% 28.9% 30.7% 28.2%
EBITDA margin 23.0% 23.0% 19.5% 16.4% 18.2% 18.2% 21.4% 25.2% 25.2% 24.4% 26.5% 29.6% 26.3% 27.8% 31.6% 53.9% 33.7% 30.9%
Operating margin 11.6% 12.0% 9.4% 7.7% 10.1% 10.6% 14.0% 17.7% 17.7% 16.3% 18.7% 21.3% 18.0% 19.6% 22.8% 43.8% 23.4% 20.6%
Net margin 5.4% 5.9% 4.8% 4.2% 5.6% 5.3% 8.2% 11.1% 18.0% 11.1% 12.9% 15.2% 13.0% 14.1% 20.0% 35.2% 18.5% 36.7%
Free-cash-flow margin 11.4% 8.1% 6.1% 3.5% 7.1% 5.1% 7.4% 7.9% 6.2% 7.8% 12.1% 14.6% 13.2% 8.3% 15.0% 10.7% 15.9% 12.1%
Cash flow
Cash from operations 318 270 259 223 309 382 581 689 658 705 966 1,050 1,138 991 1,528 1,459 1,785 1,519
Capital spending 139 136 155 151 155 232 318 387 410 376 394 360 423 482 650 855 807 709
Free cash flow 179 134 104 72 154 149 262 302 247 329 573 690 715 509 878 604 978 810
Stock-based pay 21 15 12 8 7 9 14 20 31 29 34 30 43 43 50 58 46 50
Free cash flow after stock pay 159 119 92 64 147 140 249 281 217 300 539 660 672 466 828 546 932 760
Balance sheet
Cash 264 70 26 25 42 109 168 50 1,446 45 21 207 258 358 1,272 670 67 112
Total debt 1,250 1,031 1,060 1,048 1,031 1,585 1,569 1,686 3,027 — — 2,626 5,101 5,040 4,346 5,413 5,323 5,951
Net debt (negative = net cash) 986 960 1,034 1,022 988 1,477 1,400 1,636 1,581 −45 −21 2,419 4,843 4,682 3,074 4,743 5,256 5,839
Diluted shares 44m 46m 46m 46m 46m 57m 67m 64m 63m 63m 63m 62m 63m 63m 62m 62m 61m 60m
Returned to shareholders
Dividends 71 74 74 74 74 91 107 105 109 116 130 140 148 160 174 189 197 202
Buybacks — — — — — — 520 259 100 100 98 50 0 150 150 450 450 200
Total returned 71 74 74 74 74 91 627 364 209 217 228 190 148 310 324 639 647 402

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · June 30, 2026
What it owns · $21.3bn
Short-term assets $2.4bnLonger-term assets $18.9bn
What it owes, and who funded it · $21.3bn
Short-term liabilities $1.7bnLonger-term liabilities $8.0bnShareholders' equity $11.5bn
  • Short-term assets cover short-term liabilities $2.4bn of assets due within a year against $1.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.4bn short-term assets against $8.0bn of longer-dated liabilities.
  • More cash than debt $112m of cash against $6.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 52% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 78% to 52% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.5bn of operating cash flow against $6.0bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.4bn against $232m of interest.

From Martin Marietta Materials's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$200M
Dividends (TTM)
$202M
Returned to shareholders
50%
of free cash flow
Buybacks, last 3 fiscal years
$1.1B
Diluted share count
−1.1%
year over year
Total shareholder yield
1.2%
dividends 0.6% + buybacks 0.6% of market value
Dividend payout ratio
8%
of net income paid out
Sales & admin spending
6.9%
of revenue
Days sales outstanding
56 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in construction materials
Last 12 months unless stated MLM VMC KNF EXP TTAM CRH Median
Revenue, last 12 months $6.7bn $8.0bn $3.3bn $2.3bn $1.7bn $39.0bn $2.8bn
Revenue growth, last 12 months 14.8% 1.6% 12.1% 1.7% 1.8% 5.6% 5.0%
Revenue growth, 3-year average 1.1% 1.4% 8.3% 2.0% — — 5.2%
Revenue growth, latest quarter 21.0% −4.7% 12.6% 2.6% — 3.0% 4.1%
Gross margin 28.2% 27.5% 17.8% 27.0% 26.1% 36.2% 27.2%
Operating margin 20.6% 20.3% 8.3% 31.7% 16.1% 13.7% 18.2%
Operating margin, 3-year average 30.3% 19.7% 9.3% 31.6% — 13.5% 19.7%
Net margin 36.7% 13.8% 4.2% 17.3% 11.1% 9.2% 12.5%
Cash from operations / revenue 22.7% 18.9% 9.5% 27.2% 17.8% 13.3% 18.3%
Free-cash-flow margin 12.1% 9.8% 1.3% 7.3% 8.1% 6.5% 8.5%
Free-cash-flow margin, 3-year average 12.6% 11.3% 1.6% 13.5% — 6.8% 11.3%
Stock pay / revenue 0.7% 0.6% 0.3% 0.9% — 0.4% 0.7%
Change in share count −1.1% −1.7% 0.1% −4.8% 4.6% −1.4% −0.5%

Median of all 8 companies we cover in construction materials. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

8 construction materials companies
Measure Company Peer median Rank
Revenue growth Growth 14.8% 5.6% 2 of 8
Change in growth rate Growth +4.7pp -0.4pp 2 of 8
Gross margin Profitability 28.2% 27.5% 3 of 8
Operating margin Profitability 20.6% 16.1% 2 of 7
Net margin Profitability 36.7% 13.8% 1 of 8
Free-cash-flow margin Cash generation 12.1% 8.9% 2 of 8
Stock pay as % of revenue Cash generation 0.7% 0.7% 4 of 7
Long-term debt as % of assets Balance sheet 23.9% 23.9% 5 of 8
Change in share count Balance sheet -1.1% 0.1% 4 of 8

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2024
Products and services
Line of business Revenue YoY
Cement and Ready Mixed Concrete $1.1B ▼ 26.7%
Asphalt and Paving Services $869M ▼ 2.0%

These categories overlap or exclude eliminations, so shares aren't shown.

From Martin Marietta Materials's 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$34.2B
Institutions reporting
1,068
Shares held vs prior quarter
▲ 1.2%
Positions opened / closed
100 / 98

Top buyers and sellers, Q2 2026: 459 institutions bought and 490 sold ; the biggest buyer was TCI Fund Management Ltd (+1.3M shares) and the biggest seller FMR LLC (−415K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $2.7B 4.7M 7.9% ▲ 0.1%
Vanguard Capital Management LLC $2.3B 3.9M 6.6% ▲ 0.3%
Vanguard Portfolio Management LLC $1.8B 3.2M 5.4% ▲ 1.2%
State Street Corp $1.8B 3.2M 5.3% ▲ 9.8%
Bank Of America Corp $1.4B 2.4M 4.1% ▲ 2.0%
FMR LLC $1.3B 2.2M 3.7% ▼ 15.9%
Principal Financial Group Inc $1.2B 2.1M 3.6% ▲ 1.1%
Aristotle Capital Management, LLC $1.1B 1.8M 3.1% ▼ 6.3%
Victory Capital Management Inc $1B 1.8M 3.0% ▲ 8.9%
Price T Rowe Associates Inc $922M 1.6M 2.7% ▲ 7.4%
Geode Capital Management, LLC $920M 1.6M 2.7% ▲ 0.8%
Jpmorgan Chase & Co $853M 1.5M 2.5% ▼ 21.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Martin Marietta Materials's complete shareholder register. Values are as reported by the filers ; 7 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 22 trades and filings

In the last 12 months, 2 members of Congress disclosed 7 purchases and 2 sales of Martin Marietta Materials shares.

  • April McClain Delaney(D-MD 6):Sale (full), $250,001 - $500,000, traded August 25, 2026, filed September 9, 2026
  • April McClain Delaney(D-MD 6):Purchase, $1,001 - $15,000, traded August 19, 2026, filed September 9, 2026
  • April McClain Delaney(D-MD 6):Purchase, $15,001 - $50,000, traded July 24, 2026, filed August 3, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • July 30, 2026
  • April 30, 2026
  • February 11, 2026
  • November 4, 2025
  • August 7, 2025
  • August 4, 2025

Recent SEC filings

Data status

When each part of this page on Martin Marietta Materials was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Martin Marietta Materials in brief

What does Martin Marietta Materials do?
Martin Marietta Materials is a US-listed company in the construction materials industry. Its financial year ends in December.
What is Martin Marietta Materials's stock ticker?
Martin Marietta Materials trades under the ticker MLM on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Martin Marietta Materials's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Martin Marietta Materials reported revenue of $6.7B, 14.8% higher than a year earlier, according to its SEC filings.
What is Martin Marietta Materials's free cash flow?
Martin Marietta Materials's free-cash-flow margin is 12.1% of revenue over the trailing twelve months, ranking 2 of the 8 construction materials companies we cover.
What is Martin Marietta Materials's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Martin Marietta Materials's free cash flow after stock-based pay gives ~$370 per share in the base case, and ~$260–$510 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Martin Marietta Materials's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Martin Marietta Materials buying back stock, and does it pay a dividend?
Martin Marietta Materials spent $200M on share repurchases over the trailing twelve months, and its diluted share count fell 1.1% over the year.
What is Martin Marietta Materials's market cap?
On November 2, 2026, Martin Marietta Materials's market capitalisation was about $33.4B, with a price-to-earnings ratio of 13.6 and net debt of $5.8B. Market figures come from third-party market data and may be delayed.
Does Martin Marietta Materials pay a dividend?
Yes: Martin Marietta Materials paid $202M in dividends over the trailing twelve months, a dividend yield of 0.61% and a payout ratio of 8.2%.
How much debt does Martin Marietta Materials have?
Martin Marietta Materials's debt-to-equity ratio is 51.5%, from its latest balance sheet (78.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Martin Marietta Materials's competitors?
In our Construction Materials peer group, the companies closest to Martin Marietta Materials are Vulcan Materials Company, Knife River Corp, Eagle Materials Inc, Titan America SA and CRH plc. The side-by-side comparison below sets their revenue, margins and growth against Martin Marietta Materials's.
When is Martin Marietta Materials's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Martin Marietta Materials announces its own schedule.