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MLM

Martin Marietta Materials, Inc.

MLM

Martin Marietta Materials, Inc. • NYSE
$623.24 ▲ 0.12% (+0.74)
Market Cap $37.59 B
52w High $665.18
52w Low $441.95
Dividend Yield 3.20%
P/E 32.04
Volume 111.29K
Outstanding Shares 60.31M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.846B ▲ $110M ▲ $414M ▲ 22.427% ▲ $-7.35 ▼ $668M ▲
Q2-2025 $1.811B ▲ $86M ▼ $328M ▲ 18.112% ▲ $5.44 ▲ $635M ▲
Q1-2025 $1.353B ▼ $141M ▲ $116M ▼ 8.574% ▼ $1.91 ▼ $358M ▼
Q4-2024 $1.631B ▼ $91M ▼ $294M ▼ 18.026% ▼ $4.81 ▼ $552M ▼
Q3-2024 $1.889B $110M $363M 19.217% $5.93 $648M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $57M ▼ $18.653B ▲ $8.915B ▲ $9.735B ▲
Q2-2025 $225M ▲ $18.07B ▲ $8.704B ▲ $9.363B ▲
Q1-2025 $101M ▼ $17.724B ▼ $8.64B ▼ $9.081B ▼
Q4-2024 $670M ▲ $18.17B ▲ $8.714B ▲ $9.453B ▲
Q3-2024 $52M $16.469B $7.298B $9.169B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $414M ▲ $551M ▲ $-761M ▼ $44M ▲ $-166M ▼ $361M ▲
Q2-2025 $328M ▲ $387M ▲ $-190M ▲ $-62M ▲ $135M ▲ $208M ▲
Q1-2025 $116M ▼ $218M ▼ $-262M ▲ $-525M ▼ $-569M ▼ $-15M ▼
Q4-2024 $294M ▼ $686M ▲ $-1.38B ▼ $1.312B ▲ $618M ▲ $453M ▲
Q3-2024 $362M $600M $-298M $-359M $-57M $317M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Building Materials Business
Building Materials Business
 $1.56Bn ▲$1.27Bn ▼$1.72Bn ▲$1.72Bn ▲
Magnesia Specialties
Magnesia Specialties
 $80.00M ▲$90.00M ▲$90.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown solidly over the past several years, with only a modest step back in the most recent year. The more striking story is on profitability: earnings have climbed much faster than sales, and the latest year shows a sharp jump in profit per share compared with prior years. That suggests better pricing, good cost control, and possibly some one‑time or unusual benefits helping results. Overall, the income statement points to a business that has become more profitable and efficient over time, but the recent surge in earnings is stronger than the underlying revenue trend and is worth treating with a bit of caution when thinking about durability.

Balance Sheet

Balance Sheet The balance sheet shows a company that has been steadily growing its asset base while also building shareholder equity. Debt has risen again after easing a bit, so leverage is higher than a few years ago but still supported by a larger equity cushion. Cash on hand is down from the prior year but remains above pre‑pandemic levels, suggesting a reasonable but not overly large liquidity buffer. In simple terms, the balance sheet looks solid and growth‑oriented, with a moderate increase in financial risk tied to higher borrowing to support expansion and acquisitions.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been consistently healthy, even if it has not risen as quickly as reported earnings. Free cash flow has stayed positive every year, but it has been held back somewhat by heavier spending on new plants, equipment, and other long‑term assets. That pattern indicates a business investing for future capacity and efficiency rather than maximizing near‑term cash. One watch point is that the latest year’s jump in accounting profits is not fully mirrored in operating cash flow, which can signal timing issues, working capital swings, or non‑cash gains that may not repeat.

Competitive Edge

Competitive Edge Martin Marietta operates in aggregates and construction materials, where local quarries and high transport costs naturally limit competition and create strong regional positions. Obtaining permits and developing new quarries is slow and capital‑intensive, which raises barriers to entry and helps protect pricing. The company has concentrated its footprint in faster‑growing regions, especially in the Sun Belt, where population growth, housing demand, and infrastructure projects provide long‑term volume support. On top of that, its specialty magnesia products offer higher‑margin, more differentiated offerings beyond basic stone and concrete. The main competitive risks are the cyclical nature of construction spending, exposure to government infrastructure budgets, and rivalry from other large players that may bid aggressively in key markets.

Innovation and R&D

Innovation and R&D Innovation at Martin Marietta is less about flashy new products and more about using technology and process improvements to make a heavy industrial business run better. The company is modernizing its core systems with cloud‑based software, integrating data across procurement, operations, and finance to improve margins and decision‑making. Pilot uses of connected devices and automation in quarries aim to cut downtime and maintenance costs, while digital tools improve customer service and logistics. Strategically, the firm is also innovating through portfolio moves, such as expanding its higher‑value magnesia specialties business and exploring more sustainable material sourcing and circular‑economy partnerships. The key execution risk is that large IT and operational projects can be complex, take time to show returns, and may face cultural or integration challenges in a traditionally conservative industry.

Summary

Overall, Martin Marietta looks like a mature industrial business with a durable niche and improving economics. Revenue has grown steadily, while profit margins have expanded meaningfully, leading to much stronger earnings than a few years ago. The balance sheet supports this growth strategy, though rising debt and a slimmer cash cushion mean financial discipline remains important. Cash flows are solid and consistently positive, with management clearly choosing to reinvest heavily rather than maximize near‑term surplus. Strategically, its aggregates‑led model, advantaged locations, and specialty products provide a real competitive edge, reinforced by operational and digital upgrades under the long‑term SOAR 2030 plan. Key uncertainties center on the construction cycle, government infrastructure funding, cost inflation, and the company’s ability to fully capture the benefits from its acquisitions and technology investments without eroding its financial strength.

NEWS

November 13, 2025 · 4:26 PM UTC

Martin Marietta Declares Quarterly Cash Dividend

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November 4, 2025 · 6:55 AM UTC

Martin Marietta Reports Third-Quarter 2025 Results

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October 14, 2025 · 4:15 PM UTC

Martin Marietta Announces Third-Quarter 2025 Earnings Conference Call

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October 2, 2025 · 4:15 PM UTC

Martin Marietta Receives Regulatory Approvals for Quikrete Asset Exchange

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