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MLM

Martin Marietta Materials, Inc.
$509.02
+0.28% Oct 21 close
MaterialsS&P 500 Compare
-24%-14%-4%+7%+17%Oct 2025Oct 2026Apr 2026
MLMSPY
1W
+8.0%
1M
+1.9%
3M
-7.4%
6M
-16.4%
YTD
-17.9%
1Y
-19.0%

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What they do

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.

Basic Materials · Building Materials

For information only · Important disclosures

Grades vs sector

Momentum
8th percentile in sector
F
12-1 return: -21.3%
Percentile within its GICS sector across the S&P 1500.
Growth
79th percentile in sector
B+
Revenue growth (YoY): +21.0%
Percentile within its GICS sector across the S&P 1500.
Value
18th percentile in sector
D
Forward E/P: 4.2% · EBITDA/EV: 5.9%
Percentile within its GICS sector across the S&P 1500.
Profitability
69th percentile in sector
B
Profit margin: +36.7% · Return on equity: +8.9%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
Momentum Top 15
ranked 436 of 499 · 12-month momentum -17.4%
Momentum Blend
Not in the current book
New Highs Growth
Outside this model's universe or screens
Coteau Long Book
Not in the current book

News

More news
Top US building products stocks according to Jefferies
Investing.com · Oct 19
Does CRH's Nordic Aggregates Deal Add More Fuel to Its Growth Plan?
Zacks · Oct 08

Key stats

Market value$36.2B
P/E (last 12 months)33.1
P/E (next 12 months, estimated)24.0
52-week range$464.92 – $710.97
Revenue growth (latest quarter vs a year ago)+21.0%
Dividend yield0.66%
Analyst consensusBuy (24)
Average analyst price target$632.46 (+24%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Leans expensive
Model read-out from the numbers below, not advice. Score -1 (DCF counts double).
▼DCF (base case)below the price by 70%
▼Forward P/E vs sector24.0x vs median 12.7x
▲Piotroski F-score8/9
▲Altman Z3.3 (safe)
•Net debt / EBITDA2.8x
▲Analyst target+24% (24 analysts)

Discounted cash flow

CyclicalValued on average-cycle margins
Bear
$67
-87%
growth 5% · disc. 10.7% · term. 2.0%
Base
$151
-70%
growth 10% · disc. 9.7% · term. 2.5%
Bull
$263
-48%
growth 13% · disc. 8.7% · term. 3.0%

Starting cash flow is mid-cycle: 11.2% average margin × current revenue = 0.7B (last 12 months: 0.8B at a 12% margin). On trailing cash flow the base case would be $171.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 21% a year for 10 years.
Implied
+21%/yr
FCF, last 3 yrs
+24%/yr
FCF, last 5 yrs
+7%/yr
Revenue, last 3 yrs
+0%/yr
Revenue, last 5 yrs
+5%/yr
Same inputs as the DCF above: mid-cycle free cash flow 0.7B, 9.7% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.08 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Materials

P/E (trailing)
sector median 20.6× · 75th pct
33.1×
pricier
Forward P/E
sector median 12.7× · 87th pct
24.0×
pricier
EV / EBITDA
sector median 11.1× · 92nd pct
20.3×
pricier
Price / sales
sector median 1.4× · 89th pct
5.4×
pricier
Price / book
sector median 2.3× · 68th pct
3.1×
pricier
FCF yield
sector median 4.7% · 21st pct
2.2%
pricier

Forward EPS $21.25 vs trailing $15.38 (+38% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO
$240.0M
as of 2026-06-30
vs a year ago
-5%
YoY
× TTM revenue
0.04×
coverage
24-09
24-12
25-03
25-06
25-09
25-12
26-03
26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
28.2%
Operating margin
20.6%
FCF margin
12.1%
Net margin
36.7%
Return on equity
21.3%
Return on invested capital
6.3%
Net debt / EBITDA
2.8×
Current ratio
1.4×
Interest cover
5.9×
Cash conversion (OCF/NI)
0.6×
Piotroski F-score 8/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✓ Gross margin improved✓ Asset turnover improved

Altman Z-score 3.3 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$632
+24%
Analysts
24
Buy
Range
$496–$800
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$6.2B$1.1B$978.0M
2024$5.7B$2.0B$604.0M
2023$5.9B$1.2B$878.0M
2022$6.2B$867.0M$509.0M
2021$5.4B$702.5M$714.6M
2020$4.7B$721.0M$690.4M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR -0.1%.

Earnings

Next report: 2026-11-03 · before open · EPS est 5.71
24-1025-0225-0425-0825-1126-0226-0426-070.006.85
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-07-304.645.00+7.6%
2026-04-301.841.93+5.0%
2026-02-114.984.62-7.2%
2025-11-046.686.85+2.5%
2025-08-075.265.43+3.2%
2025-04-301.881.90+1.1%
2025-02-124.564.81+5.5%
2024-10-306.305.95-5.5%

Quarterly revenue

QuarterRevenueYoY
2026-06-30$1.9B+21.0%
2026-03-31$1.4B–
2025-12-31$1.5B–
2025-09-30$1.8B–
2025-06-30$1.6B–
Analyst actions
Raymond James
2026-10-16 · main
Outperform → Outperform
PT $640
JP Morgan
2026-10-13 · main
Overweight → Overweight
PT $650
RBC Capital
2026-10-09 · main
Sector Perform → Sector Perform
PT $530
UBS
2026-10-08 · main
Buy → Buy
PT $662
Wells Fargo
2026-10-05 · main
Overweight → Overweight
PT $579
Truist Securities
2026-10-05 · main
Buy → Buy
PT $625

Recent dividends

2026-09-01: $0.840 · 2026-06-01: $0.830 · 2026-03-02: $0.830 · 2025-12-01: $0.830 · 2025-09-02: $0.830 · 2025-06-02: $0.790 · 2025-03-03: $0.790 · 2024-12-02: $0.790
Insider trades
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–

Stats refreshed 2026-10-21 18:01:57 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Independent research · Not investment advice · Important disclosures · Contact desk@coteau.app

Coteau Systematic Strategies publishes stock research and model portfolios. Results are hypothetical unless marked Live. Data: Yahoo Finance (15-min delayed), SEC EDGAR and the House Clerk.

Beta 0.9 · Oct 21, 2026