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Martin Marietta MaterialsMLM

Legal name
Martin Marietta Materials, Inc.
Sector
Other
Industry
Mining & Quarrying of Nonmetallic Minerals (No Fuels)
Exchange
NYSE

Stock Price $MLM

Latest filings

You are here#10 of 25 in Materials by market cap

Filing record · 2016–202610-K1210-Q328-K141

MLM filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 141 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jun ’17Jun ’17
  2. Leadership change8-K · Jul ’19Jul ’19
  3. Material agreement8-K · Dec ’21Dec ’21
  4. Material agreement8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $6.15B
YoY changeLargest recent move+14.5%in FY21Latest +8.6%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All MLM Financial Metrics58 metrics

Income Statement14

Balance Sheet24

Cash Flow15

Per Share5

02—Overview

Martin Marietta Materials Financial Overview 2021–2025

Updated Nov 4, 2026

Martin Marietta raised aggregates prices 18.9% in FY2023 while shipments fell 4.3%, and gross profit still jumped from $1.42 billion to $2.02 billiona. That is the core thesis: this is a pricing-power story, not a volume story. Aggregates generated 88% of segment gross profit in FY2025, so earnings track the one product the company can reliably reprice.

Revenue grew from $5.41 billion in FY2021 to $6.15 billionb in FY2025, even as management sold cement and ready-mix assets. Gross margin widened from 23.1% in FY2022 to 29.8% in FY2023. Consolidated Adjusted EBITDA reached $2.30 billion in FY2025, and operating cash flow hit a record $1.79 billion. Aggregates shipments rose 3.8% to 198.5 million tons that year, with pricing up 6.9%. Reported earnings are noisy: FY2024 net earnings of $1,995 million leaned on a $1.3 billion pretax divestiture gain.

Shareholder returns in FY2025 included $450 millionc of buybacks and $3.24 per share in declared dividends. Long-term debt stood at $5.3 billion, against $67 million of cash and $1.2 billion of unused borrowing capacity. The market paid up for this profile: shares closed at $622.66 on 2025-12-30, or 33.2x earnings, for a $37.6 billion market cap at the close of FY2025.

Recent Developments (Q1 and Q2 2026)

Martin Marietta closed the $13.5 billiond Lhoist North America acquisition on August 21, 2026, paid with about $7 billion in cash and 10,953,543 new shares. It funded the cash with $5.5 billion of senior notes and a $1.5 billion term loan. Q2 2026 revenue rose 21% to $1.947 billion, and Adjusted EBITDA rose 13% to $638 million. GAAP EPS from continuing operations fell to $4.26 from $4.84 on acquisition charges. Aggregates pricing slipped 2.0% on mix, though organic pricing rose 3.7%. Management raised 2026 revenue guidance to $7.2–$7.4 billion. Michael Petro was named CFO.

Bulls point to record shipments, $85 millione of targeted synergies and expected accretion in the first full year. Bears point to leverage near 3.7x at close, rating pressure at Moody's and S&P, and 30.5x earnings as of the Q2 2026 report date (July 29, 2026), not today.

What to watch: updated 2026 guidance including Lhoist with Q3 results; progress cutting leverage toward the 2.5x target

03—Filings

Recent SEC Filings

  1. 8-KMartin Marietta Materials 8-K Report, Financial Results (Nov 4, 2026)
  2. 8-KMartin Marietta Materials 8-K Report, Material Agreement (Sep 16, 2026)Martin Marietta Materials, Inc. (MLM) reported in this Form 8-K, filed September 16, 2026, that on September 15, 2026 it and its wholly owned subsidiary, Martin Marietta Funding LLC (MM Funding), entered into the Eighteenth Amendment to its Credit and Security Agreement with Truist Bank, successor by merger to SunTrust Bank, as administrative agent. The amendment extends the scheduled maturity of the trade receivables securitization facility to September 15, 2027. The facility is a $500,000,000 trade receivables securitization backed by receivables originated by the Corporation or certain subsidiaries, which are sold or contributed to MM Funding. Subject to conditions, including lender commitments, the facility may be increased to an amount not to exceed $700,000,000. Effective with the amendment, MM Funding's borrowings bear interest at Adjusted Term SOFR plus 0.700%, subject to change if the administrative agent determines Adjusted Term SOFR cannot be determined or SOFR no longer reflects the lenders' cost of lending. The agreement includes an amortization event tied to a payment default or acceleration of one of the Corporation's material debt agreements. The full Eighteenth Amendment, including a conformed copy of the Credit and Security Agreement, is filed as Exhibit 10.01 and incorporated by reference.
  3. 8-KMartin Marietta Materials 8-K Report, Material Agreement (Aug 24, 2026)On August 21, 2026, Martin Marietta Materials, Inc. completed its acquisition of Lhoist North America, Inc. (LNA) from LNA Holding SRL under a Securities Sale Agreement dated June 27, 2026. The consideration was approximately $7 billion in cash (as adjusted under the agreement) plus 10,953,543 newly issued shares of Martin Marietta common stock, valued at $6.5 billion based on the 15-trading-day VWAP ended June 26, 2026. In its press release, the company described LNA as a leading producer of high calcium lime, dolomitic lime and industrial mineral products, and said the combination advances its SOAR 2030 objectives by expanding its Specialties platform. Ward Nye, Chair, President and CEO, said the combination makes Martin Marietta the nation's leading producer of limestone products, citing more than 2 billion tons of high-quality reserves. At closing, the company entered into a Shareholders Agreement and a Registration Rights Agreement with LNA Holding. The Shareholders Agreement imposes lock-ups on the Consideration Shares, with 50% released at the 12-month anniversary of closing and 50% at the 24-month anniversary. It also expands the Board from ten to eleven directors, with LNA Holding entitled to designate one director and one non-voting observer, subject to ownership thresholds of 10% and 7.5%. A standstill caps FGI and LNA Holding acquisitions at 18% of outstanding common stock. The company appointed Philipp Niemann, CEO of Lhoist S.A., to the Board effective August 21, 2026, to serve on the Finance Committee. The company also stated it expects to provide updated full-year 2026 revenue and Adjusted EBITDA guidance reflecting the transaction with its third-quarter results.
  4. 8-KMartin Marietta Materials 8-K Report, Material Agreement (Aug 18, 2026)On August 18, 2026, Martin Marietta Materials, Inc. entered into a Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, providing for a $1.5 billion five-year senior unsecured revolving facility. Borrowings bear interest at Term SOFR or a base rate, plus a margin set by a ratings-based pricing grid. The facility replaces the company's existing Credit Agreement dated December 21, 2021, under which no borrowings were outstanding before the new agreement. The new facility expires on August 18, 2031. The agreement contains a maximum Leverage Ratio covenant of 3.75:1.00, with step-ups tied to the previously announced acquisition of Lhoist North America, Inc. (the "Acquisition"). After the Acquisition closes, the ratio may not exceed 4.75:1.00 for the first three fiscal quarters, 4.25:1.00 for the next three, and 3.75:1.00 thereafter. Debt incurred for certain acquisitions may be excluded for four quarters if the ratio without the exclusion does not exceed 4.25:1.00. Cash and cash equivalents may reduce consolidated debt for the ratio calculation, up to $500 million, if no amounts are outstanding under both the Revolving Facility and the accounts receivable securitization facility. The filing also reports the Credit Agreement as Exhibit 10.1 and the cover page in Inline XBRL as Exhibit 104. It was signed by George Schoen, Executive Vice President, General Counsel and Corporate Secretary.
  5. 8-KMartin Marietta Materials 8-K Report, Material Agreement (Aug 14, 2026)On August 14, 2026, Martin Marietta Materials, Inc. (MLM) issued $5.5 billion of senior unsecured notes in five series: $750 million of 4.850% Senior Notes due 2029, $1,250 million of 5.200% Senior Notes due 2032, $1,000 million of 5.400% Senior Notes due 2034, $1,500 million of 5.625% Senior Notes due 2036, and $1,000 million of 6.375% Senior Notes due 2056. The notes were issued under a base indenture dated May 22, 2017 and a Sixth Supplemental Indenture dated August 14, 2026, with Regions Bank as trustee. The notes were registered under an effective Form S-3ASR shelf registration statement and a prospectus supplement dated August 11, 2026. The filing states that net proceeds, together with borrowings under a $1.5 billion senior unsecured term loan facility, will be used to pay the cash consideration for the previously announced acquisition of all outstanding equity interests in Lhoist North America, Inc. (the "Acquisition"). Closing of the notes offering is expected in the third quarter of 2026, subject to customary closing conditions. Investors should note that the notes are not guaranteed by subsidiaries and are structurally subordinated to subsidiary liabilities. If the Acquisition is not consummated by the SMR Outside Date, the Securities Sale Agreement is terminated, or the company publicly announces it will no longer pursue the Acquisition, the company must redeem all notes at 101% of principal plus accrued interest under a special mandatory redemption.
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04—See also

Related Companies

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