JHX vs MLM: James Hardie Industries PLC ADR and Martin Marietta Materials compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Martin Marietta Materials is the larger company, worth $26.5B, about 2.0 times James Hardie Industries PLC ADR.
- James Hardie Industries PLC ADR grew revenue faster over the last year (+24.7% vs +21.0%).
- Martin Marietta Materials keeps more of each dollar of revenue as operating profit (20.6% vs 9.3%).
- On earnings, Martin Marietta Materials is the cheaper stock (27.7x vs 132.2x).
- James Hardie Industries PLC ADR's price assumes faster free cash flow growth: about 21% a year, against 9% for Martin Marietta Materials (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | JHX | MLM |
|---|---|---|
| Market cap | $13.6B | $26.5B |
| Share price | $25.12 | $478.35 |
| Revenue (last fiscal year) | $4.8B | $6.2B |
| Free cash flow (last fiscal year) | $206M | $978M |
| Revenue growth, last year | +24.7% | +21.0% |
| Revenue growth per year, last 5 fiscal years | +7.5% | +3.2% |
| Operating margin | 9.3% | 20.6% |
| Net margin | 2.1% | 36.7% |
| Return on equity | 1.6% | 21.3% |
| P/E (trailing) | 132.2x | 27.7x |
| Price / free cash flow | 35.6x | 27.1x |
| EV / EBITDA | 19.4x | 17.0x |
| FCF growth the price implies | 20.7% | 9.0% |
| Dividend yield | — | 0.71% |
| Debt / equity | 1.06x | 0.85x |
| Fundamental grade | D | C |
| Superinvestors holding it | 0 | 5 |
| Insider purchases, last 12 months | 0 | 8 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
James Hardie Industries PLC ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $3.6B | $499M | 18.9% |
| 2023 | $3.8B | $16M | 19.6% |
| 2024 | $3.9B | $465M | 19.5% |
| 2025 | $3.9B | $381M | 16.9% |
| 2026 | $4.8B | $206M | 9.3% |
Martin Marietta Materials
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.4B | $715M | 18.0% |
| 2022 | $6.2B | $509M | 19.6% |
| 2023 | $5.9B | $878M | 22.8% |
| 2024 | $5.7B | $604M | 43.8% |
| 2025 | $6.2B | $978M | 23.4% |
Where the revenue comes from
James Hardie Industries PLC ADR · by segments, 2026
Siding & Trim$3.0B61%
Deck, Rail & Accessories$795M16%
Europe$557M12%
Australia & New Zealand$521M11%
Martin Marietta Materials · by segments, 2025
Building Materials Business$5.7B93%
Specialties$441M7%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open JHX in InvestinglyQuestions
Which is bigger, James Hardie Industries PLC ADR or Martin Marietta Materials?
Martin Marietta Materials (MLM), at $26.5B against $13.6B.
Is JHX or MLM cheaper?
By trailing P/E, Martin Marietta Materials (27.7x) is cheaper than James Hardie Industries PLC ADR (132.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, JHX or MLM?
James Hardie Industries PLC ADR: revenue grew +24.7% over the last year, against +21.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.