# Martin Marietta Materials (MLM) — Stock CV

Martin Marietta Materials is a $33.9B materials company. Revenue shrank 5.8% over the last year, it keeps 39¢ of every dollar of sales as profit, and its net debt equals ~6.5 years of free cash flow. It trades at 13.8× earnings — near the lowest of its own history.

> Martin Marietta Materials is one of the United States' largest producer of construction aggregates (crushed stone, sand, and gravel). Martin Marietta's most important markets include Texas, North Carolina, Colorado, California, and Georgia, accounting for most of its sales.

## Identity

- **Ticker**: MLM
- **Sector**: Basic Materials
- **Industry**: Mining & Quarrying Of Nonmetallic Minerals (No Fuels)
- **Headquarters**: RALEIGH, NC
- **Employees**: 9 600
- **Website**: https://www.martinmarietta.com
- **Market cap**: $33.9B
- **Last price**: $477.87
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $6.29B
- **Net income**: $2.46B
- **Free cash flow**: $810M
- **Net debt**: $5.23B
- **P/E**: 13.8
- **Revenue growth (YoY)**: -5.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 54 |
| Growth | 46 |
| Profitability | 77 |
| Health | 42 |
| Quality | 56 |
| Moat | 56 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [ ] Revenue growing — -5.8% YoY
- [x] Profitable — $2.46B TTM
- [x] Profit growing — +10.6% YoY
- [x] Generates cash — $810M TTM
- [ ] Debt under control — ~6.5y of cash flow to repay
- [x] Established company — $33.9B market cap
- [x] Not printing shares — -2.9% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 22/100
- [x] Pays a dividend — yield 0.59%
- [x] Valuation not extreme — P/E 13.8

## Experience (career milestones)

- **FY2024** — Best year on record: $2.00B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $3.82B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2014** — The company acquired Texas Industries for $2 billion
- **1995** — Martin Marietta merged with Lockheed Corporation in 1995, and a year later, Martin Marietta Materials was spun off…
- **1971** — Martin Marietta acquired Harvey Aluminum, a company which made aluminum oxide, aluminum ingot and aircraft…
- **1959** — The company, led by William Trent Ragland as president, merged with the American-Marietta Corporation
- **1939** — The present-day materials business is distantly descended from Superior Stone, an aggregates company founded in 1939…

## Strengths

- Strongly profitable — 39.0% net margin
- Interest covered 6.6× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Revenue shrinking 5.8% year over year
- Net debt equals ~6.5 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $5.41B | $703M | $715M |
| FY2022 | $6.16B | $867M | $509M |
| FY2023 | $5.85B | $1.17B | $878M |
| FY2024 | $6.54B | $2.00B | $604M |
| FY2025 | $6.15B | $1.14B | $978M |

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Source: https://stockcv.com/MLM — derived from company filings; may be delayed or incomplete. Information, not investment advice.