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Martin Marietta Materials Inc (MLM) Fair Value & Analysis

Basic Materials · US · Market cap $33.8B · ISIN US5732841060

What is Martin Marietta Materials Inc really worth?

MM Martin Marietta Materials Inc logo Martin Marietta Materials Inc MLM · US
Price$508.94
Fair Value$215.31
Upside−57.7%
Quality56/100

A solid business, but trading 136% above our fair value of $215.31.

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Strengths

Healthy Growth (revenue 5y +6.7 %/yr)
Highly profitable · 39.9% net margin
Moderate debt · generates free cash flow

Risks

!Mixed vs. peers (6/15)
!Moderate moat 58/100
!Weak on dividend: 13 out of 100

For context

·0.64% dividend yield
Evidence: High Range $149.62 – $352.88

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from $220.56 to $215.31 (−2.4%) since Jul 20, 2026. Share price −8.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($352.88). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($149.62 to $352.88) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$706.23 $288.93 Fair Value $215.31 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range $288.93 – $706.23 · fair‑value band $149.62 – $352.88 · the $508.94 price screens above the $215.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Martin Marietta Materials Inc (MLM) currently trades at $508.94, while our model-based Fair Value estimate is $215.31, implying the stock looks roughly 136.4% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of $298.88 per share, and 0 of the 26 models we run sit above the $508.94 price. Bear case: the Dividend Discount group reads lowest at $51.16, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Martin Marietta Materials Inc generated revenue of $6.4B at a net margin of 39.9%. Revenue grew 17.2% year over year. It earns a return on equity of 9.5%. Net debt stands at $5.3B. Fundamentals as of Aug 13, 2026

Our scenario range runs from $149.62 (bear case) to $352.88 (bull case); at $508.94, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 28% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −56% fair-value upside, at −58%, MLM screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $8.63 per share, which is 4.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $100.77 $210.83 $381.57 76
Growth DCF $103.45 $199.82 $339.58 76
EPV $114.72 $148.34 $177.76 74
All 26 models by family
DCF Models
FCF DCF $100.77 $210.83 $381.57 76
Owner Earnings $98.66 $207.48 $376.30 73
5Y Revenue Exit $49.52 $121.93 $213.38 69
5Y EBITDA Exit $135.64 $284.99 $460.78 73
5Y P/E Exit $119.10 $253.68 $396.24 69
10Y Revenue Exit $62.64 $133.64 $227.95 64
10Y EBITDA Exit $121.34 $247.61 $418.96 66
10Y P/E Exit $110.75 $225.73 $369.13 62
Earnings-Based
Graham-Dodd $128.76 $424.73 $568.05 64
Lynch FV $95.70 $136.71 $177.73 61
PEG = 1.0 $95.70 $136.71 $177.73 57
EPV $114.72 $148.34 $177.76 74
Dividend Discount
Gordon GGM $30.12 $62.63 $99.36 66
DDM Multi-Stage $30.12 $51.16 $65.74 66
Multiples
P/E Multiple $241.43 $321.90 $402.38 63
P/S Multiple $122.61 $163.47 $204.34 58
P/B Multiple $241.43 $321.90 $402.38 55
EV/EBIT $179.11 $267.83 $356.54 65
EV/EBITDA $182.64 $272.52 $362.41 66
EV/Revenue $27.40 $76.44 $125.48 50
Asset-Based
NCAV (Graham) $83.55 $111.96 $167.11 54
Growth DCF
Growth DCF $103.45 $199.82 $339.58 76
Rev-Margin DCF $49.52 $123.10 $209.51 69
Economic Profit
Residual Income $151.85 $176.58 $348.86 72
ROIC Compounder $114.72 $148.34 $191.19 72
Growth Earnings
Growth-Adj P/E $209.22 $298.88 $388.55 67

Widest divergence: Growth Earnings ($298.88) versus Dividend Discount ($51.16). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 31.8
P/S ratio 5.53 P/E × margin
EPS (TTM) $15.98 price ÷ EPS = P/E 31.8
Dividend yield 0.6% payout 20.5%
Net margin 17.4% FY2025
Return on equity 9.5% TTM
More key figures
Profitability
Return on assets (EBIT) 9.7% avg 5y
Operating margin 12.7% TTM
Growth
Revenue (TTM) $6.4B TTM
Revenue growth (YoY) +17.2% 3y avg +2.0%
EPS growth (YoY) +12.2%
Balance sheet & cash flow
Free cash flow $978M FY2025
Net debt $5.3B FY2025 · ≈ 5.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 57 · Market factors (momentum, volatility) 31

Profitability 41
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 96
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

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.

Full company description

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; and paving products and services for use in the infrastructure projects, and nonresidential and residential construction projects, as well as in the railroad, agricultural, utility, and environmental industries. It also produces magnesia-based chemicals products, and dolomitic lime primarily to customers for steel production and soil stabilization. Its chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other applications. The company was founded in 1939 and is based in Raleigh, North Carolina.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Martin Marietta Materials Inc reported revenue of $6.5B in FY2025 versus $5.4B in FY2021, a compound +4.9%/yr. Reported net income was $1.1B in FY2025, compounding +12.8%/yr from FY2021.

Growth Quality 78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$6.5B
Latest YoY
+0.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.0%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.7%
Avg. revenue growth/yr (31Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
+10.8% (10.2 + 0.6)
Revenue +4.9%/yr
FY21 $5.4B
FY22 $6.2B
FY23 $6.8B
FY24 $6.5B
FY25 $6.5B
Net income +12.8%/yr
FY21 $703M
FY22 $867M
FY23 $1.2B
FY24 $2.0B
FY25 $1.1B
Character of growth · EPS growth decomposed (2014-2025) +19.7 % p.a.
Revenue per share +7.8 %

of which total revenue +7.5 % · buybacks/dilution +0.2 %

EBIT margin +8.2 %
Tax rate +1.6 %
Residual (interest, one-offs) +1.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

MLM screens 136% overvalued. Compare with CRH plc →

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Cite: Fair Value Calculator (2026). "Martin Marietta Materials Inc Fair Value". https://www.fairvalue-calculator.com/stock/MLM

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Building Materials · 257 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Above median
Fair Value upside −58% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 40% · Top 25%
Operating margin (TTM) 13% · Above median
Revenue growth 17% · Top 25%
Dividend yield (TTM) 0.6% · Bottom 25%
Debt / equity 0.53× · Higher than 75% of peers

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 31.8× · Pricier than median
P/B 3.37× · Pricier than 75% of peers
P/S (TTM) 5.32× · Pricier than 75% of peers
P/FCF 34.5× · Pricier than 75% of peers
EV/EBITDA 18.5× · Pricier than 75% of peers
PEG 2.74× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 17
FUTURE86 · sector 2
PAST38 · sector 15
HEALTH74 · sector 92
DIVIDEND13 · sector 44

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $96.05 $69.69 −27%
Holcim AG HOLN CHF 71.04 CHF 20.00 −72%
Vulcan Materials Company VMC $259.69 $114.48 −56%
UltraTech Cement Limited ULTRACEMCO ₹11,891 ₹4,718 −60%
Heidelberg Materials AG HEI €170.05 €167.96 −1%
China Jushi Co 600176 ¥40.56 ¥13.22 −67%
Amrize AG AMRZ CHF 37.65 CHF 29.67 −21%
Grasim Industries Limited GRASIM ₹3,293 ₹1,245 −62%
CEMEX, S.A. CX $11.24 $11.31 +1%
James Hardie Industries plc JHX A$41.54 A$9.80 −76%

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Frequently asked questions

Is Martin Marietta Materials Inc (MLM) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $215.31 versus a price of $508.94, about −58% upside (overvalued).
What is the fair value of MLM?
Our model-based fair value for Martin Marietta Materials Inc is $215.31 (as of Aug 13, 2026), built from audited fundamentals. The current price: $508.94.
What is the quality score of MLM?
Martin Marietta Materials Inc has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Martin Marietta Materials Inc (MLM)?
Martin Marietta Materials Inc reported trailing-twelve-month revenue of about $6.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MLM?
The net profit margin of Martin Marietta Materials Inc is about 39.9%, meaning it keeps roughly 39.9% of revenue as net income. Based on the latest reported figures.
Does Martin Marietta Materials Inc pay a dividend?
Martin Marietta Materials Inc currently shows a dividend yield of about 0.64% relative to its recent price (as of Aug 13, 2026).
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