Martin Marietta Materials (MLM) financial statements
Martin Marietta Materials reported revenue of $6.2B in fiscal 2025, up 5.4% a year over 9 years.
Net income was $1.1B and the operating margin 23.4%, against 17.7% in 2016.
Free cash flow was $978M, and the company returned $197M in dividends and $450M in net buybacks.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Martin Marietta Materials's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.8B | $4.0B | $4.2B | $4.7B | $4.7B | $5.4B | $6.2B | $5.9B | $5.7B | $6.2B |
| Cost of revenue | $2.9B | $3.0B | $3.3B | $3.6B | $3.5B | $4.1B | $4.7B | $4.1B | $4.0B | $4.3B |
| Gross profit | $912M | $972M | $967M | $1.2B | $1.3B | $1.3B | $1.4B | $1.7B | $1.6B | $1.9B |
| Selling, general and admin | $242M | $262M | $281M | $303M | $306M | $351M | $397M | $425M | $429M | $443M |
| Operating income | $677M | $700M | $691M | $885M | $1.0B | $974M | $1.2B | $1.3B | $2.5B | $1.4B |
| Interest expense | $82M | $92M | $137M | $129M | $118M | $143M | $169M | $165M | $169M | $230M |
| Pre-tax income | $607M | $619M | $576M | $748M | $889M | $856M | $1.1B | $1.2B | $2.4B | $1.2B |
| Income tax | $182M | -$94M | $106M | $136M | $168M | $153M | $235M | $234M | $550M | $236M |
| Net income | $425M | $713M | $470M | $612M | $721M | $702M | $867M | $1.2B | $2.0B | $1.1B |
| EPS (diluted) | $6.63 | $11.25 | $7.43 | $9.74 | $11.54 | $11.22 | $13.87 | $18.82 | $32.41 | $18.77 |
| Diluted shares | 64M | 63M | 63M | 63M | 62M | 63M | 62M | 62M | 62M | 61M |
| Gross margin | 23.9% | 24.5% | 22.8% | 24.9% | 26.5% | 24.9% | 23.1% | 29.8% | 28.9% | 30.7% |
| Operating margin | 17.7% | 17.7% | 16.3% | 18.7% | 21.3% | 18.0% | 19.6% | 22.8% | 43.8% | 23.4% |
| Net margin | 11.1% | 18.0% | 11.1% | 12.9% | 15.2% | 13.0% | 14.1% | 20.0% | 35.2% | 18.5% |
Balance sheet
Fiscal years, from Martin Marietta Materials's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $50M | $1.4B | $45M | $21M | $207M | $258M | $358M | $1.3B | $670M | $67M |
| Receivables | — | $487M | $523M | $574M | $575M | $774M | $786M | $753M | $678M | $723M |
| Inventory | $522M | $601M | $663M | $691M | $709M | $753M | $874M | $989M | $1.0B | $1.1B |
| Total current assets | $1.1B | $2.6B | $1.4B | $1.4B | $1.7B | $2.0B | $2.9B | $3.9B | $2.4B | $3.2B |
| Property, plant and equipment | $3.4B | $3.6B | $5.2B | $5.2B | $5.2B | $6.3B | $6.3B | $6.2B | $9.7B | $10.3B |
| Goodwill | $2.2B | $2.2B | $2.4B | $2.4B | $2.4B | $3.5B | $3.6B | $3.4B | $3.4B | $3.6B |
| Total assets | $7.3B | $9.0B | $9.6B | $10.1B | $10.6B | $14.4B | $15.0B | $15.1B | $18.2B | $18.7B |
| Total current liabilities | $547M | $694M | $787M | $838M | $499M | $753M | $1.4B | $1.2B | $1.0B | $895M |
| Long-term debt | $1.5B | $2.7B | $2.7B | $2.4B | $2.6B | $5.1B | $4.3B | $3.9B | $5.3B | $5.3B |
| Total liabilities | $3.2B | $4.3B | $4.6B | $4.8B | $4.7B | $7.9B | $7.8B | $7.1B | $8.7B | $8.7B |
| Shareholders' equity | $4.1B | $4.7B | $4.9B | $5.4B | $5.9B | $6.5B | $7.2B | $8.0B | $9.5B | $10.0B |
| Net debt | $1.6B | $1.6B | $3.1B | $2.8B | $2.4B | $4.8B | $4.7B | $3.1B | $4.7B | $5.3B |
Cash flow
Fiscal years, from Martin Marietta Materials's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $689M | $658M | $705M | $966M | $1.1B | $1.1B | $991M | $1.5B | $1.5B | $1.8B |
| Capital spending | $387M | $410M | $376M | $394M | $360M | $423M | $482M | $650M | $855M | $807M |
| Free cash flow | $302M | $247M | $329M | $573M | $690M | $715M | $509M | $878M | $604M | $978M |
| Stock-based compensation | $20M | $30M | $29M | $34M | $30M | $43M | $43M | $50M | $58M | $46M |
| Dividends paid | $105M | $109M | $116M | $130M | $140M | $148M | $160M | $174M | $189M | $197M |
| Share buybacks (net) | -$259M | -$100M | -$100M | -$98M | -$50M | $0 | -$150M | -$150M | -$450M | -$450M |
| Net borrowing | $111M | $1.3B | $90M | -$350M | -$149M | $2.5B | -$54M | -$700M | $1.1B | -$735M |
| Free cash flow margin | 7.9% | 6.2% | 7.8% | 12.1% | 14.6% | 13.2% | 8.3% | 15.0% | 10.7% | 15.9% |
| Dividends per share | $1.64 | $1.72 | $1.84 | $2.07 | $2.25 | $2.36 | $2.56 | $2.80 | $3.07 | $3.25 |
Questions
What was Martin Marietta Materials's revenue in 2025?
$6.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Martin Marietta Materials generate?
$978M in fiscal 2025 (operating cash flow minus capital spending).
From Martin Marietta Materials's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.