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Martin Marietta Materials, Inc. — Intrinsic Value & Fair Price

MLM
NYSEBasic MaterialsConstruction MaterialsCIK 0000916076martinmarietta.comAbout MLM
Last close · Oct 16, 2026500.84+9.61 (+1.96%)
Market cap$30.1B
Model value · DCF · Perpetuity growth · 5y
325.50
Martin Marietta Materials closed at $500.84 — overvalued by 54% vs model.
194.54the model's range704.71

DCF · Perpetuity growth · 5y leads for a cyclical company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
63.20 – 562.60
Wall St. target
639.00 22% below
Above model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
0.66%
Past 2 years
low 0.46%high 0.71%
Dividends per share, a year at a time
$2.32Aug ’21$2.49Aug ’22$2.72Aug ’23$3.01Sep ’24$3.20Sep ’25$3.33TTM
Dividends / free cash flow, FY2025
20.1%
Raised
10 years in a row
Growth, 5 yrs
7.5% a year
Last change
+1.2% · Sep 2026
Every payment, with ex-dates · latest $0.84, paid Sep 30, 2026

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How it is valued

Valued asCyclical
Revenue declining (~-5% recent)Moderate margins (18% net margin)Highly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for cyclical companies
P/E
26.7×
EV / EBITDA
17.5×
FCF yield
3.2%
Dividend yield, TTM
0.66%
Beta
1.08
Cost of capital (WACC)
8.66%
On the lists: #50 Near 52-week lows
Full financials

Analyst actions

third-party, quoted
10-16Raymond James · target640.00
10-09RBC Capital · target530.00
10-08UBS · target662.00
09-09Wells Fargo · “Overweight” from “Equal Weight”upgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label

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About Martin Marietta Materials

Martin Marietta Materials, Inc. functions as a company specializing in natural resource-derived building materials. This enterprise delivers a wide range of aggregates and other heavy construction components to the building industry, serving both domestic and international markets. Its product portfolio includes foundational raw materials like crushed stone, sand, and gravel, in addition to manufactured items such as ready-mix concrete, asphalt, and comprehensive paving solutions. These offerings are essential for infrastructure projects, commercial and residential developments, and various other sectors including railroads, agriculture, utilities, and environmental applications. Beyond its core construction offerings, Martin Marietta also produces magnesia-based chemicals, which are utilized in industrial, agricultural, and environmental contexts. The company further supplies dolomitic lime, primarily for steel manufacturing and soil stabilization. Its broader chemical products contribute to areas such as flame retardants, wastewater treatment, and pulp and paper production, among other environmental uses. Established in 1939, the firm's main office is situated in Raleigh, North Carolina.

CEO
C. Howard Nye
Headquarters
Raleigh, NC
Employees
9,600
IPO
1994-02-17
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.