# Martin Marietta Materials, Inc. (MLM)

> Source: Nexqual · https://nexqual.com/MLM · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Martin Marietta Materials, Inc. (MLM), nexqual.com/MLM" · informational, not investment advice.

**Price:** USD 517.67 (+1.70% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 509.02 · day 503.02–518.38 · 52w 464.92–710.97 · market cap $36.8B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $6.69B, net income $2.46B (36.7% margin), free cash flow $810M (SEC filings).
- Valuation: P/E 15.0x (avg 25.2x at the last 3 fiscal year-ends), EV/EBITDA 20.6x, net debt $5.84B.
- 3 of 80 tracked superinvestors hold MLM (13F, Q2 2026): 1 new, 1 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.13 on a 1–5 scale) (24 analysts), mean target USD 632.46 (range 496–800).
- Total return with dividends: 1Y -15.9% vs S&P 500 +14.9%; 5Y +40.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 5.71, revenue estimate $2.31B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.41B | $6.16B | $5.85B | $5.66B | $6.15B | $6.69B |
| Gross profit | $1.35B | $1.42B | $1.75B | $1.64B | $1.89B | — |
| Operating income | $974M | $1.21B | $1.33B | $2.48B | $1.44B | $1.38B |
| Net income | $703M | $867M | $1.17B | $2.00B | $1.14B | $2.46B |
| EPS (diluted) | $11.22 | $13.87 | $18.82 | $32.41 | $18.77 | — |
| Free cash flow | $715M | $509M | $878M | $604M | $978M | $810M |
| Gross margin | 24.9% | 23.1% | 29.8% | 28.9% | 30.7% | — |
| Operating margin | 18.0% | 19.6% | 22.8% | 43.8% | 23.4% | 20.6% |
| Net margin | 13.0% | 14.1% | 20.0% | 35.2% | 18.5% | 36.7% |
| Revenue growth | +14.5% | +13.8% | -5.0% | -3.2% | +8.6% | — |
| Cash + short-term investments | $258M | $358M | $1.27B | $670M | $67.0M | — |
| Total debt | $5.10B | $5.04B | $4.35B | $5.41B | $5.32B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 15.0x · P/S 5.5x · EV/EBITDA 20.6x · EV/Sales 6.4x · P/FCF 45.4x · P/B 3.2x · FCF yield 2.20% · Earnings yield 6.68% · Dividend yield (paid, TTM) 0.55% · Buyback yield (TTM) 0.54% · Net debt $5.84B · EV $42.6B
P/E at fiscal year-ends: Dec 2025 33.2x, Dec 2024 15.9x, Dec 2023 26.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold MLM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Thomas Russo | Gardner Russo & Quinn | 4.56% | $407M | Reduced -1.4% |
| Wallace Weitz | Weitz Investment Management | 1.89% | $27.3M | Added +19.1% |
| Chris Hohn | TCI Fund Management | 1.44% | $758M | New position |

## Analysts
Consensus Buy (mean 2.13 on a 1–5 scale), 24 analysts; mean target USD 632.46 (low 496, high 800).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Raymond James | Target lowered | Outperform | $660 → $640 |
| 2026-10-13 | JP Morgan | Target lowered | Overweight | $680 → $650 |
| 2026-10-09 | RBC Capital | Target lowered | Sector Perform | $620 → $530 |
| 2026-10-08 | UBS | Target lowered | Buy | $715 → $662 |
| 2026-10-05 | Wells Fargo | Target lowered | Overweight | $585 → $579 |
| 2026-10-05 | Truist Securities | Target lowered | Buy | $730 → $625 |
| 2026-10-02 | Citigroup | Target lowered | Buy | $690 → $610 |
| 2026-09-21 | Wells Fargo | Target lowered | Overweight | $609 → $585 |
| 2026-09-09 | Wells Fargo | Upgrade | Equal-Weight → Overweight | $581 → $609 |
| 2026-09-02 | JP Morgan | Upgrade | Neutral → Overweight | $680 |
| 2026-08-28 | RBC Capital | Target raised | Sector Perform | $610 → $620 |
| 2026-08-25 | DA Davidson | Initiated | Neutral | $625 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -15.9% | +40.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -16.0% | +6.9% |
| Volatility (annualized) | 28.6% | 24.8% |
| Max drawdown | -33.2% (Feb 2026→Oct 2026) | -32.6% (Dec 2021→Jun 2022) |

## Peers (Building Materials)
VMC (Vulcan Materials Company (Holdi) USD 268.72 +1.54% · CRH (CRH PLC) USD 86.43 +0.46% · AMRZ (Amrize Ltd) USD 39.44 +1.65% · JHX (James Hardie Industries plc.) USD 26.54 +0.91% · CX (Cemex, S.A.B. de C.V. Sponsored) USD 10.11 -2.69% · EXP (Eagle Materials Inc) USD 178.74 +3.09%

## More
Full page: https://nexqual.com/MLM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Reportable Segments | $1.95B | 100.0% | +21.0% | $418.0M | 21.5% |
| — Building Materials Business East Group (part of Reportable Segments) | $972.0M | 49.9% | +10.7% | $295.0M | 30.3% |
| — Building Materials Business West Group (part of Reportable Segments) | $823.0M | 42.3% | +28.4% | $81.0M | 9.8% |
| — Specialties (part of Reportable Segments) | $152.0M | 7.8% | +68.9% | $42.0M | 27.6% |
| Building Materials Business | $1.79B | 92.2% | +18.2% | — | — |
| Corporate costs (not allocated) | — | — | — | -$46.0M | — |
| Total revenue | $1.95B | 100% | — | $372.0M | 19.1% |
The lines above cover 192.2% of total revenue.

## Revenue by product line (quarter ended 2024-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Asphalt & Paving Services | $343.0M | 20.9% | — |
| Cement & Ready Mixed Concrete | $296.0M | 18.0% | — |
| Total revenue | $1.64B | 100% | — |
The lines above cover 38.9% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $5.71 | $7.10 | -19.6% | $2.31B | 10 |
| Next quarter (ends 2026-12-31) | $4.40 | $5.07 | -13.2% | $2.19B | 10 |
| Current fiscal year (ends 2026-12-31) | $17.01 | $18.71 | -9.1% | $7.82B | 14 |
| Next fiscal year (ends 2027-12-31) | $21.25 | $22.39 | -5.1% | $9.62B | 13 |