Martin Marietta Materials, Inc.MLM
NYSE•Basic Materials•Building Materials
Martin Marietta Materials, Inc., a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It operates through East Group and West Group segments. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; and paving products and services for use in the infrastructure projects, and nonresidential and residential construction projects, as well as in the railroad, agricultural, utility, and environmental industries. It also produces magnesia-based chemicals products, and dolomitic lime primarily to customers for steel production and soil stabilization. Its chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other applications. The company was founded in 1939 and is based in Raleigh, North Carolina.
Martin Marietta Materials, Inc. (MLM) reported trailing twelve months revenue of $6.16B as of March 2026, a 7.2% decline year-over-year. Quarterly revenue reached $1.36B, reflecting a contraction in sales.
Martin Marietta Materials, Inc. generated $2.53B in TTM net income, with quarterly EBITDA of $329.00M. The operating margin contracted from 14.3% to 11.9%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (11.9%) and net margin (111.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 8.6% a year ago, signaling stronger bottom-line efficiency.
MLM trades at a P/E of 13.6x (below the broader market average) and a P/S of 5.6x. The price-to-book ratio of 3.1x reflects a moderate premium to book value.
The company generated $41.00M in free cash flow over the trailing twelve months, a 373.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $20.50B in total assets with $5.29B in long-term debt against $11.29B in stockholders equity for a debt-to-equity ratio of 0.5, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~22.0%, suggesting durable pricing power and cost discipline.
ROE averages 16.9% but has fluctuated — the competitive advantage may be cyclical or emerging.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~22.3% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue has softened, declining in 3 quarters. Monitor for further erosion.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation