Martin Marietta Materials Inc (MLM) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Martin Marietta Materials Inc stock $215, price $557, that is 61.4% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $288.47 – $705.09 · fair‑value band $112.82 – $305.99 · the $556.56 price screens above the $214.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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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.
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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.
Stock analysis
Martin Marietta Materials Inc (MLM) currently trades at $556.56, while our model-based Fair Value estimate is $214.62, 61% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $252.70 per share, and 0 of the 26 models we run sit above the $556.56 price.
Bear case: the Dividend Discount group reads lowest at $41.67, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $112.82 (bear) to $305.99 (bull), the price of $556.56 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap $39.5B Large · P/E ratio 36.2 · P/S ratio 6.29 · EPS (TTM) $15.38 · Dividend yield 0.6% · Net margin 17.4% · Return on equity 8.9% · Return on assets (EBIT) 9.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −21% fair-value upside, at −61%, MLM screens richer than that median.
Fair Value models
Bear$112.82Fair Value $214.62Bull$305.99
Price $556.56 · Downside -61.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($10.21 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
Plus 18 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+2.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
Start year 2020 (pandemic). Over 10 years: +6.3% a year
Revenue growth 31 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+7.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.2%
Dividend (yield on the price)0.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.10.9% vs 15.9%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.21% → 23%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+19.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +18.4% a year for the price and +16.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (96 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Moderate scale advantages in aggregates form the core strength, while thin evidence on other factors and integration costs create the main weakness.
Main risk: The Lhoist acquisition financed partly with debt could raise interest expenses and refinancing risks, squeezing margins and limiting flexibility.
Bull case: Successful integration of Lhoist could deliver synergies and allow quick deleveraging through robust aggregates cash flows, strengthening resilience.
Bear case: If integration challenges persist alongside softer end markets, sustained high leverage might elevate costs and restrict investments in reserves or expansion.
Martin Marietta recently completed its combination with Lhoist North America, adding lime and industrial mineral production plus more than two billion tons of reserves. The deal broadens exposure to steel and environmental markets beyond core aggregates and aims to improve business resilience. Our models currently see the stock as overvalued. Will the new specialties platform drive faster synergies than integration costs slow earnings momentum?
Compare Martin Marietta Materials Inc with another stock
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Peer Groupⓘ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.Building Materials · 256 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−61.4% · Bottom 25%
Profitability
Return on equity (12 months)8.9% · Above median
Return on assets6.1% · Top 25%
Net margin (12 months)36.7% · Top 25%
Operating margin (12 months)20.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)21.0% · Top 25%
Dividend yield (12 months)0.6% · Bottom 25%
Balance sheet
Debt / equity0.53× · Highest 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
P/E (12 months)36.2× · Priciest 25%
P/B3.94× · Priciest 25%
P/S (12 months)5.91× · Priciest 25%
Price / free cash flow40.4× · Priciest 25%
EV/EBITDA21.1× · Priciest 25%
PEG2.06× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 30
FUTURE (revenue growth)100· sector 10
PAST (return on equity)36· sector 18
HEALTH (low debt)74· sector 92
DIVIDEND (yield)12· sector 48
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Martin Marietta Materials Inc (MLM) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $214.62 versus a price of $556.56, about 61% lower (overvalued).
What is the fair value of MLM?
Our model-based fair value for Martin Marietta Materials Inc is $214.62 (as of Nov 5, 2026), built from audited fundamentals. The current price: $556.56.
What is the quality score of MLM?
Martin Marietta Materials Inc has a Quality Score of 57/100. 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 price target for Martin Marietta Materials Inc (MLM)?
Our model-based price target is the fair value of $214.62 (as of Nov 5, 2026) from 26 valuation models. Cautious scenario $112.82, optimistic scenario $305.99. It is a calculation from audited fundamentals, not an analyst target.
What is the Martin Marietta Materials Inc stock forecast for 2026?
Our models put fair value at $214.62, about 61% lower versus a price of $556.56 (overvalued). Cautious scenario $112.82, optimistic scenario $305.99. The calculation is refreshed regularly with new filings.
What is the revenue of Martin Marietta Materials Inc (MLM)?
Martin Marietta Materials Inc reported trailing-twelve-month revenue of about $6.7B (latest available figure, as of Nov 5, 2026).
Does Martin Marietta Materials Inc pay a dividend?
Martin Marietta Materials Inc currently shows a dividend yield of 0.60% relative to its recent price (as of Nov 5, 2026).
What growth is priced into Martin Marietta Materials Inc (MLM)?
For today's price to be fair in a discounted-cash-flow model, Martin Marietta Materials Inc would have to grow free cash flow by +21.2 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.7 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of MLM use?
Our models discount Martin Marietta Materials Inc at 9.3 %: a base by market capitalisation (large), damped by beta 1.03, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Martin Marietta Materials Inc that is +21.2 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has Martin Marietta Materials Inc (MLM) delivered so far?
Over the past 5 years revenue at Martin Marietta Materials Inc grew +6.7 % a year. The price currently implies +21.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Martin Marietta Materials Inc (MLM) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Martin Marietta Materials Inc (+21.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Martin Marietta Materials Inc (MLM)?
The free-cash-flow yield on the price is 2.92 %: that much free cash flow Martin Marietta Materials Inc produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Martin Marietta Materials Inc (MLM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Martin Marietta Materials Inc it is $214.62 per share (as of Nov 5, 2026), against a price of $556.56. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Martin Marietta Materials Inc stock overvalued or undervalued in 2026?
As of Nov 5, 2026, MLM trades above its calculated fair value: price $556.56, fair value $214.62, a gap of about −61% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MLM?
No. The price is what the market pays today ($556.56); the fair value is what the company's own numbers justify ($214.62). For Martin Marietta Materials Inc the two are $341.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Martin Marietta Materials Inc worth?
The market values Martin Marietta Materials Inc at about $39.5B (market capitalisation, as of Nov 5, 2026). Per share that is $556.56; our models calculate a fair value of $214.62 per share.
What do the bullish and bearish scenarios say about MLM?
Our models span a range for Martin Marietta Materials Inc: cautious scenario $112.82, base $214.62, optimistic $305.99 per share (as of Nov 5, 2026, price $556.56). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MLM?
Martin Marietta Materials Inc trades at a price-to-earnings ratio of 36.2 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $214.62 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 34.0 (reported for FY2025: 29.6). Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 5 of the years ex one-offs: 28.4. Other multiples: PEG 2.1, P/B 3.9, P/S 5.9, EV/EBITDA 21.1.
What is the PEG ratio of MLM?
The PEG ratio of Martin Marietta Materials Inc is 2.06 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Martin Marietta Materials Inc (MLM)?
Balance-sheet figures for Martin Marietta Materials Inc (as of Nov 5, 2026): return on equity 8.9%, debt of 0.53 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is MLM from its 52-week high?
Martin Marietta Materials Inc trades at $556.56, about 21% below its 52-week high of $705.09 and 18% above the low of $471.10 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $214.62 is for.
Which stocks are comparable to Martin Marietta Materials Inc?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Martin Marietta Materials Inc stock attractive at the current price?
The data as of Nov 5, 2026: price $556.56, calculated fair value $214.62 (−61%), Quality Score 57/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MLM calculated?
We run Martin Marietta Materials Inc through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $214.62, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0% above its aggregate fair value. Martin Marietta Materials Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Martin Marietta Materials Inc (MLM)?
The closing price on Nov 4, 2026 was $556.56. Our model-based fair value is $214.62, about 61% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Martin Marietta Materials Inc right now?
The price sits above even our optimistic bull case ($305.99). The favourable scenario is already priced in. The model range is unusually wide ($112.82 to $305.99). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Martin Marietta Materials Inc (MLM) come from?
Earnings per share at Martin Marietta Materials Inc grew +19.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.8 %, EBIT margin +8.2 %, tax rate +1.6 %, residual (interest, one-offs) +1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Martin Marietta Materials Inc
How large is the market capitalisation of Martin Marietta Materials Inc (MLM)?
The market capitalisation of Martin Marietta Materials Inc is $39.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Martin Marietta Materials Inc (MLM)?
The price-to-sales ratio of Martin Marietta Materials Inc is 6.29 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Martin Marietta Materials Inc (MLM)?
Earnings per share at Martin Marietta Materials Inc are $15.38 (price ÷ EPS = P/E 36.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Martin Marietta Materials Inc (MLM)?
The dividend yield of Martin Marietta Materials Inc is 0.6% (payout 24.8%, on adjusted earnings, reported 21.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Martin Marietta Materials Inc (MLM)?
The net margin of Martin Marietta Materials Inc is 17.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Martin Marietta Materials Inc (MLM)?
The return on equity (ROE) of Martin Marietta Materials Inc is 8.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Martin Marietta Materials Inc (MLM)?
On an EBIT basis the return on assets of Martin Marietta Materials Inc is 9.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Martin Marietta Materials Inc (MLM)?
The operating margin of Martin Marietta Materials Inc is 20.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Martin Marietta Materials Inc (MLM)?
Revenue at Martin Marietta Materials Inc is growing +21.0% versus a year earlier (3y avg +2.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Martin Marietta Materials Inc (MLM)?
Earnings per share at Martin Marietta Materials Inc are growing −23.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Martin Marietta Materials Inc (MLM) carry?
The net debt of Martin Marietta Materials Inc is $5.3B (fiscal year 2025, ≈ 5.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026