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Martin Marietta Materials, Inc. (MLM)

NYSE / Basic Materials / Construction Materials

Share price

500.84 USD Market dataClose of Oct 16, 2026

Market capitalisation

30.08B USD Market dataClose of Oct 16, 2026
Market data
Oct 16, 2026
Filed accounts
FY2025, filed Feb 19, 2026
Ratios computed
Oct 16, 2026
Filed years
10, FY2016 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

7.3% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

26.63x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

3.2% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 3.82B USDFY2016 Net income: 425.4M USDFY2017 Revenue: 3.97B USDFY2017 Net income: 713.3M USDFY2018 Revenue: 4.24B USDFY2018 Net income: 470.0M USDFY2019 Revenue: 4.74B USDFY2019 Net income: 611.9M USDFY2020 Revenue: 4.73B USDFY2020 Net income: 721.0M USDFY2021 Revenue: 5.41B USDFY2021 Net income: 702.5M USDFY2022 Revenue: 6.16B USDFY2022 Net income: 867.0M USDFY2023 Revenue: 5.85B USDFY2023 Net income: 1.17B USDFY2024 Revenue: 5.66B USDFY2024 Net income: 2.00B USDFY2025 Revenue: 6.15B USDFY2025 Net income: 1.14B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
3 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 26.63x at the close of 2026-10-16 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.

Today, against the Basic Materials sector (124 companies), 26.63x sits at the 60th percentile; the middle half of that group runs from 15.06x to 35.54x.

Is it good

Return on invested capital was 7.3% in FY2025, in the band labelled "Likely below the cost of capital" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns below the usual cost of the capital employed.

Today, against the Basic Materials sector (99 companies), 7.3% sits at the 47th percentile; the middle half of that group runs from 1.5% to 12.9%.

Is it safe

Interest coverage was 6.25x in FY2025, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether Martin Marietta Materials, Inc.'s return on invested capital stayed above the median of the Basic Materials sector, year by year. (FY2023 to FY2025, 3 fiscal years of Martin Marietta Materials, Inc. with a comparable figure)
The direction
Which way Martin Marietta Materials, Inc.'s return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Martin Marietta Materials, Inc.)
What could explain it
What in Martin Marietta Materials, Inc.'s filed statements could explain the movements. (7 readings drawn from the statement lines Martin Marietta Materials, Inc. filed)
What to check next
What to check next on Martin Marietta Materials, Inc., and where in its filings. (2 questions for Martin Marietta Materials, Inc.)
In one paragraph
One paragraph on Martin Marietta Materials, Inc.'s returns, cash, balance sheet and price. (16 of sixteen figures read for Martin Marietta Materials, Inc.)

These are MLM’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research MLMPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 19, 2026, accession 0001193125-26-059193.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Martin Marietta Materials, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax7.3% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Return on equity11.3% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Return on capital employed, pre-tax8.1% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Return on assets6.1% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Gross margin30.7% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Operating margin23.4% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Net margin18.5% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
MLM 18.5%
VMC 13.6%CRH 10.0%AMRZ 10.0%JHX 2.1%CX 5.8%
2.1%18.5%
Net margin: MLM against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Martin Marietta Materials, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.60 ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Current ratio3.57 ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Quick ratio2.36 ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Interest coverage6.25x ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Altman Z-score3.31 ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Net debt5.94B ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Total assets 18.71BTotal liabilities 8.68BShareholders' equity 10.03BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Martin Marietta Materials, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 19, 2026, 0001193125-26-059193).

Martin Marietta Materials, Inc: balance sheet position
Total assets18.71B FiledFY2025 10-K, filed Feb 19, 2026
Total liabilities8.68B FiledFY2025 10-K, filed Feb 19, 2026
Shareholders' equity10.03B FiledFY2025 10-K, filed Feb 19, 2026
Cash67.0M FiledFY2025 10-K, filed Feb 19, 2026
Total debt6.01B FiledFY2025 10-K, filed Feb 19, 2026
Net debt5.94B
Current ratio3.57
Debt to equity0.60

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Martin Marietta Materials, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings26.63x ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
P/E on trailing twelve months12.31x ComputedClose of Oct 16, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book3.03x ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Price to sales4.94x ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Enterprise value to EBIT25.25x ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Enterprise value to EBITDA17.50x ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Price to earnings over growth2.60 ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Diluted earnings per share18.77 USD FiledFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Graham number264.69 USD ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193

We publish no fair value or price target of our own. Value MLM on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Martin Marietta Materials, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Martin Marietta Materials, Inc: valuation
Share price500.84 USD
Market capitalisation30.08B USD
Enterprise value to EBITDA17.50x
Graham number264.69 USD
Diluted earnings per share, FY202518.77 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 1, 2017: low 11.58x, median 27.33x, high 37.92x, latest 12.31x. 2,316 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Martin Marietta Materials, Inc

  1. Vulcan Materials Company (VMC)Market cap 33.38B USD
  2. CRH plc (CRH)Market cap 55.64B USD
  3. Amrize Ltd (AMRZ)Market cap 20.68B USD
  4. James Hardie Industries plc (JHX)Market cap 14.98B USD
  5. CEMEX, S.A.B. de C.V. (CX)Market cap 14.87B USD

Same industry (Construction Materials) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Martin Marietta Materials, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield3.2% ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Free cash flow978.0M USD ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Free cash flow margin15.9% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Dividend yield0.7% ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Payout ratio17.3% ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
FY2016 Free cash flow: 301.7M USDFY2016 Net income: 425.4M USDFY2017 Free cash flow: 247.3M USDFY2017 Net income: 713.3M USDFY2018 Free cash flow: 329.1M USDFY2018 Net income: 470.0M USDFY2019 Free cash flow: 572.6M USDFY2019 Net income: 611.9M USDFY2020 Free cash flow: 690.4M USDFY2020 Net income: 721.0M USDFY2021 Free cash flow: 714.6M USDFY2021 Net income: 702.5M USDFY2022 Free cash flow: 509.0M USDFY2022 Net income: 867.0M USDFY2023 Free cash flow: 878.0M USDFY2023 Net income: 1.17B USDFY2024 Free cash flow: 604.0M USDFY2024 Net income: 2.00B USDFY2025 Free cash flow: 978.0M USDFY2025 Net income: 1.14B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Martin Marietta Materials, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
26.63xFY2025Oct 16, 2026
3.03xFY2025Oct 16, 2026
25.25xFY2025Oct 16, 2026
3.2%FY2025Oct 16, 2026
7.3%FY2025Feb 19, 2026
0.7%FY2025Oct 16, 2026
0.60FY2025Feb 19, 2026
3.57FY2025Feb 19, 2026
4.94xFY2025Oct 16, 2026
2.60FY2025Oct 16, 2026
3.31FY2025Oct 16, 2026
-2.29FY2025Feb 19, 2026
8/9FY2025Feb 19, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 10 filed fiscal years on record, FY2016 to FY2025, from SEC EDGAR. Prices as of Oct 16, 2026. Ratios recomputed Oct 16, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports Martin Marietta Materials, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Martin Marietta Materials, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20256.15B1.44B1.14B18.77978.0M23.4%11.3%10-K, Feb 19, 20260001193125-26-059193
FY20245.66B2.48B2.00B32.41604.0M43.8%21.1%10-K, Feb 21, 20250000950170-25-024770
FY20235.85B1.33B1.17B18.82878.0M22.8%14.6%10-K, Feb 23, 20240000950170-24-019275
FY20226.16B1.21B867.0M13.87509.0M19.6%12.1%10-K, Feb 24, 20230000950170-23-004361
FY20215.41B973.8M702.5M11.22714.6M18.0%10.8%10-K, Feb 22, 20220001564590-22-005965
FY20204.73B1.01B721.0M11.54690.4M21.3%12.2%10-K, Feb 19, 20210001564590-21-006959
FY20194.74B884.9M611.9M9.74572.6M18.7%11.4%10-K, Feb 21, 20200001564590-20-005784
FY20184.24B690.7M470.0M7.43329.1M16.3%9.5%10-K, Feb 25, 20190001193125-19-049961
FY20173.97B700.4M713.3M11.25247.3M17.7%15.2%10-K, Feb 23, 20180001193125-18-055887
FY20163.82B677.3M425.4M6.63301.7M17.7%10.3%10-K, Feb 24, 20170001193125-17-056282
  • Revenue, compound annual growth FY2016 to FY2025: 5.4%
  • Earnings, compound annual growth FY2016 to FY2025: 11.5%
  • Earnings per share, compound annual growth FY2016 to FY2025: 12.3%
  • Free cash flow, compound annual growth FY2016 to FY2025: 14.0%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Martin Marietta Materials, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.29 ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Piotroski F-score8/9 ComputedFY2025 10-K, filed Feb 19, 2026, 0001193125-26-059193
Named tests met3 of 30 Computed
Beta0.67 ComputedClose of Oct 16, 2026

The named tests

Of 30 tests value investors published: 3 met, 27 not met, 0 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Three forensic scores; Low beta, profitable; Cash-covered dividend
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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