MARTIN MARIETTA MATERIALS INC
$513.61
−3.72 (−0.72%) · delayed · Nov 13, 2026
Five-year price
52w $464.92 to $710.97
- Market cap
- $31.1B
- Enterprise value
- $36.4B
- P/E
- 27.4×
- 22.0× on 3y avg EPS
- EV / EBIT
- 25.3×
- FCF yield
- 3.1%
- ROIC
- 7.6%
- Debt / equity
- 0.53
- Piotroski F
- 8/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
33
- ○ROIC > 12% (5y avg)5y avg ROIC 9.1%
- ○ROE > 15% (5y avg)5y avg ROE 14.0%
- ○Stable operating marginsMargin volatility 9.4% (σ, 5y)
- ○Earnings convert to cashFCF / net income 70% (5y avg)
- ●Growing revenueRevenue CAGR 5y 5.4%
- ●Shrinking share countDiluted shares -2.9% over 5y
Value
0
- ○P/E below 15P/E 27.4
- ○EV/EBIT below 12EV/EBIT 25.3
- ○FCF yield above 6%FCF yield 3.1%
- ○Price below Graham NumberGraham Number $264.41
- ○P/B below 3P/B 3.1
Safety
40
- ○Debt / equity below 0.5D/E 0.53
- ○Debt payable in < 4 yrs of earningsNet debt $5.3B
- ○Interest coverage > 8xCoverage 6.2x
- ●Current ratio > 1.5Current ratio 3.57
- ●Piotroski F-score ≥ 6F-score 8/9
Graham Defensive
71
- ●Adequate size (revenue > $2B)Revenue $6.2B
- ●Strong condition (current ratio ≥ 2)Current ratio 3.57
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 177%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 22.0
- ○P/E × P/B ≤ 22.5Product 68.3
Valuation lab
What do you have to believe?
At $513.61, the market is pricing in about 13.9% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $5.3B · 61M shares · 5y revenue CAGR 5.4%
Intrinsic value
$220.52
Price
$513.61
Premium paid
133%
What the price implies
The market is paying for 13.9% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
57% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,819 | 3,966 | 4,244 | 4,739 | 4,730 | 5,414 | 6,161 | 5,851 | 5,662 | 6,150 |
| Gross profit | 912 | 972 | 967 | 1,179 | 1,253 | 1,348 | 1,423 | 1,745 | 1,636 | 1,889 |
| Operating income | 677 | 700 | 691 | 885 | 1,005 | 974 | 1,207 | 1,333 | 2,479 | 1,437 |
| Operating margin | 17.7% | 17.7% | 16.3% | 18.7% | 21.3% | 18.0% | 19.6% | 22.8% | 43.8% | 23.4% |
| Pre-tax income | 607 | 619 | 576 | 748 | 889 | 856 | 1,091 | 1,226 | 2,366 | 1,226 |
| Income tax | 182 | (95) | 106 | 136 | 168 | 153 | 235 | 234 | 550 | 236 |
| Net income | 425 | 713 | 470 | 612 | 721 | 703 | 867 | 1,169 | 1,995 | 1,137 |
| EPS (diluted) | 6.63 | 11.25 | 7.43 | 9.74 | 11.54 | 11.22 | 13.87 | 18.82 | 32.41 | 18.77 |
| Diluted shares | 64 | 63 | 63 | 63 | 62 | 63 | 63 | 62 | 62 | 61 |
Who owns it