Materials · Construction Materials · US stock · price as of 16 Oct 2026
Key indicators
Price
$500.84
52-week range
$464.92 – $707.94
Market cap
$30.2B
P/E (trailing)
12.3×
EV / EBITDA
17.4×
Free-cash-flow yield
2.7%
Dividend yield
0.7%
Revenue (last 12 months)
$6.7B
Revenue growth (3y a year)
−0.1%
Operating margin
20.6%
Return on invested capital
6.3%
Net debt / EBITDA
2.8×
Fair value
Blended fair value$410.92 range $398 – $429
Versus priceFair−18% to fair value
Peer multiples
$345.29
Fundamentals-adjusted multiple
$717.89
10-year DCF (market-scaled)
$169.57
Earnings power value (floor, not blended)
$145.21
Model uncertainty
High
X-Ray Score
44/ 100 · High confidence · ahead of 30% of sector peers
Valuation32
Growth61
Profitability30
Financial health53
Dividends55
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
The building materials used in roads, bridges, housing, warehouses and other construction are supplied by Martin Marietta Materials. It quarries aggregates such as crushed stone, sand and gravel, and also supplies related products such as asphalt in some regions. Its customers are contractors, infrastructure builders, developers and public agencies, mainly in the United States.
Revenue comes from shipments of aggregates and related products to construction sites. Over the last twelve months it was $6.7 billion, while revenue growth over the last three years was -0.1% a year, a very small decline. The operating margin is 20.6%, and the business earns a profit of 6% on the capital invested in it. It carries net debt of 2.8 times EBITDA. The company pays a dividend with a yield of 0.7%.
StocksXray gives Martin Marietta Materials Inc an X-Ray Score of 44 out of 100 (high confidence), ahead of 30% of the S&P 500 stocks in its sector. Its strongest lens is growth (61) and its weakest is profitability (30).
Our fair value blend is $410.92 (range $398.42 to $428.70). At $500.84 the stock trades 22% above that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Martin Marietta Materials Inc (MLM)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$427.79
$330.55
$491.26
$511.34
$620.00
$500.84
Market cap
$26.8B
$20.7B
$30.5B
$31.5B
$37.6B
$30.2B
P/E
38.1×
23.8×
26.1×
15.8×
33.0×
12.3×
EV / revenue
5.8×
4.1×
5.7×
6.4×
7.0×
5.4×
EV / EBITDA
22.2×
14.8×
18.2×
11.9×
20.7×
17.4×
Price / free cash flow
37.5×
40.6×
34.7×
52.1×
38.4×
37.2×
Free-cash-flow yield
2.7%
2.5%
2.9%
1.9%
2.6%
2.7%
Price / book
4.1×
2.9×
3.8×
3.3×
3.7×
2.6×
Dividend yield
0.55%
0.77%
0.57%
0.60%
0.52%
0.66%
Fundamentals checklist ● 2 Good · ● 9 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash4.4%Bad
Free-cash-flow yield2.7%Bad
Risk models
Altman Z score3.1×Average
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)10.6%Average
Free-cash-flow growth (3y)24.3%Average
Revenue growth (3y)−0.1%Average
Growth consistency70%Average
Balance sheet
Current ratio1.4×Average
Net debt / EBITDA2.8×Average
Interest cover5.9×Average
Valuation
Fair value vs price0.8×Bad
EBIT / EV yield3.8%Average
Profitability
Return on invested capital6.3%Bad
Operating margin20.6%Good
Gross profitability8.8%Bad
XStocksXray
Martin Marietta Materials Inc (MLM)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
5,414
6,161
5,851
5,662
6,150
6,689
Gross profit
1,348
1,423
1,745
1,636
1,889
1,884
Operating income
974
1,207
1,333
2,479
1,437
1,380
Net income
703
867
1,169
1,996
1,138
2,457
Diluted EPS ($)
11.22
13.87
18.82
32.41
18.77
40.68
Free cash flow
715
509
878
604
978
810
Gross margin
24.9%
23.1%
29.8%
28.9%
30.7%
28.2%
Operating margin
18.0%
19.6%
22.8%
43.8%
23.4%
20.6%
Net margin
13.0%
14.1%
20.0%
35.2%
18.5%
36.7%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
14,393
14,994
15,125
18,170
18,711
21,305
Cash
258
358
1,272
670
67
112
Total debt
5,101
5,040
4,346
5,413
5,323
5,951
Equity
6,535
7,171
8,034
9,453
10,032
11,546
Dividend per share ($)
2.36
2.54
2.80
3.06
3.24
3.32
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.