Martin Marietta Materials (MLM) stock
Materials · Construction Materials
Martin Marietta Materials (MLM) is a Construction Materials company in the Materials sector, headquartered in Raleigh, North Carolina. As of October 23, 2026, MLM closed at $507.17, a market capitalization of $36.02 billion, the 290th largest company in the S&P 500. Over the last twelve months it generated $6.69 billion in revenue (+21% year over year) and $810.00 million in free cash flow. The stock trades at 33.0x trailing earnings and 23.9x forward earnings.
- 1-year total return: -17.7% (dividends reinvested)
- 5-year return: +6.5% a year
- 52-week range: $464.92 – $710.97
- Gross margin 28.2%, operating margin 20.2%
- Dividend yield: 0.66%, 10 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 9th largest of 24 Materials stocks in the S&P 500
MLM price chart
1Y price change: -18.1% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MLM | +3.4% | -18.2% | -17.7% | +7.7% | +6.5% | +11.7% | +11.1% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1994.
MLM key statistics
- Market cap
- $36.0B
- #290 in S&P 500
- P/E (TTM)
- 33.0x
- Forward P/E
- 23.9x
- EPS (TTM)
- $15.38
- Revenue (TTM)
- $6.7B
- +21%
- Free cash flow
- $810.0M
- Gross margin
- 28.2%
- Operating margin
- 20.2%
- Return on equity
- 8.9%
- Dividend yield
- 0.66%
- 52-week range
- $464.92 – $710.97
- Beta
- 1.08
- Price / sales
- 5.4x
- EV / EBITDA
- 17.3x
- Debt / equity
- 0.55x
- Employees
- 9,600
MLM report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth21.0%A
- Gross margin28.2%C
- Operating margin20.2%B
- FCF margin12.1%C
- Return on equity8.9%D
- Net debt / EBITDA2.9xD
- Forward P/E23.9xC
- PEG ratio2.0xC
- Shareholder yield1.9%C
- Share count change / yr-0.6%B
Martin Marietta Materials financials
Revenue went from $3.8B in fiscal 2016 to $6.2B in fiscal 2025, growing 5.4% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.8B | $4.0B | $4.2B | $4.7B | $4.7B | $5.4B | $6.2B | $5.9B | $5.7B | $6.2B |
| Gross profit | $911.7M | $971.9M | $966.6M | $1.2B | $1.3B | $1.3B | $1.4B | $1.7B | $1.6B | $1.9B |
| Operating income | $677.3M | $700.4M | $690.7M | $884.9M | $1.0B | $973.8M | $1.2B | $1.3B | $2.5B | $1.4B |
| Net income | $425.4M | $713.3M | $470.0M | $611.9M | $721.0M | $702.5M | $867.0M | $1.2B | $2.0B | $1.1B |
| EPS (diluted) | $6.63 | $11.25 | $7.43 | $9.74 | $11.54 | $11.22 | $13.87 | $18.82 | $32.41 | $18.77 |
| Free cash flow | $301.7M | $247.3M | $329.1M | $572.6M | $690.4M | $714.6M | $509.0M | $878.0M | $604.0M | $978.0M |
| Buybacks | $259.2M | $100.0M | $100.4M | $98.2M | $50.0M | $0 | $150.0M | $150.0M | $450.0M | $450.0M |
| Dividends paid | $105.0M | $108.9M | $116.4M | $129.8M | $140.3M | $147.8M | $160.0M | $174.0M | $189.0M | $197.0M |
| Diluted shares | 63.9M | 63.2M | 63.1M | 62.7M | 62.4M | 62.6M | 62.5M | 62.1M | 61.6M | 60.6M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MLM?
A reverse DCF asks what growth the current price requires. With an enterprise value of $42.3B and $810.0M of trailing free cash flow, Martin Marietta Materials needs to grow free cash flow about 35.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 7.2% a year over the last five years.
P/E ratio history
Current 27.0x vs. median 33.1x (10th–90th percentile 19.2x–52.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MLM dividend
- Dividend yield
- 0.66%
- Annual dividend
- $3.36
- Years of increases
- 10
- 5-yr dividend growth
- 7.7%
- per year
- Payout ratio
- 22%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
MLM analyst price targets
24 analysts' average 12-month target is $632.46 (+25% vs. $507.17). Targets range from $496.00 to $800.00. 71% rate it a buy.
MLM earnings
Next report: November 4, 2026. Martin Marietta Materials has beaten EPS estimates 2 quarters in a row. Last quarter's revenue was $1.9B (+21% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $4.64 | $5.00 | +7.6% |
| Apr 30, 2026 | $1.84 | $1.93 | +5.0% |
| Feb 11, 2026 | $4.98 | $4.62 | -7.2% |
| Nov 4, 2025 | $6.68 | $6.85 | +2.5% |
| Aug 7, 2025 | $5.26 | $5.43 | +3.2% |
| Apr 30, 2025 | $1.88 | $1.90 | +1.1% |
| Feb 12, 2025 | $4.56 | $4.81 | +5.5% |
| Oct 30, 2024 | $6.30 | $5.95 | -5.5% |
Stocks like MLM
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 CRH CRH | -1.78% | -27% | $56.5B | 15.0x | Compare |
 VMC Vulcan Materials Company (Holdi | -2.62% | -10% | $33.9B | 30.9x | Compare |
 LIN Linde | -0.30% | +15% | $234.6B | 32.8x | Compare |
 NEM Newmont | -4.59% | +24% | $113.1B | 12.6x | Compare |
 FCX Freeport-McMoRan | +0.91% | +60% | $93.6B | 32.1x | Compare |
 SHW Sherwin-Williams | -2.48% | +3% | $81.8B | 31.1x | Compare |
 ECL Ecolab | -1.29% | +6% | $80.9B | 38.7x | Compare |
 APD Air Products and Chemicals | -0.35% | +24% | $68.4B | — | Compare |
MLM news
- Martin Marietta Announces Third-Quarter 2026 Earnings Conference Call · Oct 21, 2026
- What You Need to Know Ahead of Martin Marietta's Earnings Release · Oct 16, 2026
- Martin Marietta Materials (MLM): Buy, Sell, or Hold Post Q2 Earnings? · Sep 21, 2026
- Is Martin Marietta Materials (MLM) Undervalued Following Record Guidance And A 20% Slide? · Sep 20, 2026
- A Look Back at Building Materials Stocks’ Q2 Earnings: Martin Marietta Materials (NYSE:MLM) Vs The Rest Of The Pack · Sep 18, 2026
MLM stock FAQ
What is MLM's market cap?
Martin Marietta Materials's market capitalization is $36.02 billion as of October 23, 2026, ranking 290th in the S&P 500.
What is MLM's P/E ratio?
MLM trades at a trailing price-to-earnings ratio of 33.0x and a forward P/E of 23.9x. Its median P/E over the period we track is 33.1x.
Does MLM pay a dividend?
Yes. Martin Marietta Materials pays $3.36 per share a year, a 0.66% yield. It has raised its dividend 10 years in a row. Dividends grew 7.7% a year over the last five years.
How much has MLM stock returned?
Including reinvested dividends, MLM returned -17.7% over one year, +6.5% a year over five years, +11.7% a year over ten years through October 23, 2026.
Is MLM stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Martin Marietta Materials must grow free cash flow about 36% a year for the next decade. Its free cash flow grew 7% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the MLM price target?
24 analysts cover MLM with an average 12-month price target of $632.46, +25% from the current price. 71% of them rate it a buy.
When does MLM report earnings?
Martin Marietta Materials is expected to report earnings on November 4, 2026. It has beaten EPS estimates 2 quarters in a row.
How many employees does Martin Marietta Materials have?
Martin Marietta Materials has about 9,600 full-time employees, or $696,667 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology