Martin Marietta Materials, Inc.

NYSE:MLM Stock Report

Market Cap: US$35.6b

Martin Marietta Materials Valuation

Is MLM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MLM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MLM ($581.64) is trading below our estimate of fair value ($688.28)

Significantly Below Fair Value: MLM is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MLM?

Key metric: As MLM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MLM. This is calculated by dividing MLM's market cap by their current earnings.
What is MLM's PE Ratio?
PE Ratio17.9x
EarningsUS$1.99b
Market CapUS$35.63b

Price to Earnings Ratio vs Peers

How does MLM's PE Ratio compare to its peers?

The above table shows the PE ratio for MLM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35.3x
VMC Vulcan Materials
43.2x18.0%US$36.9b
CRH CRH
19.6x8.7%US$66.7b
EXP Eagle Materials
20.8x9.8%US$10.1b
SUM Summit Materials
57.8x44.0%US$8.5b
MLM Martin Marietta Materials
17.9x-13.5%US$35.6b

Price-To-Earnings vs Peers: MLM is good value based on its Price-To-Earnings Ratio (17.9x) compared to the peer average (35.3x).

Price to Earnings Ratio vs Industry

How does MLM's PE Ratio compare vs other companies in the Global Basic Materials Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MLM 17.9xIndustry Avg. 16.3xNo. of Companies48PE01224364860+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MLM is expensive based on its Price-To-Earnings Ratio (17.9x) compared to the Global Basic Materials industry average (16.3x).

Price to Earnings Ratio vs Fair Ratio

What is MLM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MLM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.9x
Fair PE Ratio13.6x

Price-To-Earnings vs Fair Ratio: MLM is expensive based on its Price-To-Earnings Ratio (17.9x) compared to the estimated Fair Price-To-Earnings Ratio (13.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MLM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$581.64
US$630.60
+8.4%
15.5%US$730.00US$370.00n/a21
Nov ’25US$580.14
US$621.13
+7.1%
15.4%US$715.00US$370.00n/a20
Oct ’25US$534.98
US$604.67
+13.0%
14.2%US$715.00US$370.00n/a21
Sep ’25US$534.16
US$617.42
+15.6%
11.4%US$715.00US$370.00n/a21
Aug ’25US$584.89
US$629.02
+7.5%
10.6%US$715.00US$380.00n/a22
Jul ’25US$532.05
US$642.56
+20.8%
11.1%US$715.00US$380.00n/a22
Jun ’25US$572.08
US$644.08
+12.6%
11.3%US$737.00US$380.00n/a23
May ’25US$590.86
US$631.62
+6.9%
11.8%US$737.00US$380.00n/a23
Apr ’25US$604.42
US$587.87
-2.7%
11.2%US$670.00US$350.00n/a22
Mar ’25US$589.95
US$574.70
-2.6%
11.2%US$642.00US$350.00n/a23
Feb ’25US$515.51
US$534.89
+3.8%
12.5%US$605.50US$330.00n/a23
Jan ’25US$498.91
US$513.39
+2.9%
11.9%US$605.50US$330.00n/a22
Dec ’24US$467.35
US$505.75
+8.2%
11.0%US$572.50US$330.00n/a22
Nov ’24US$439.17
US$496.24
+13.0%
11.3%US$565.00US$325.00US$580.1421
Oct ’24US$410.48
US$496.09
+20.9%
11.4%US$565.00US$323.00US$534.9821
Sep ’24US$457.39
US$502.10
+9.8%
10.2%US$565.00US$323.00US$534.1620
Aug ’24US$453.28
US$500.75
+10.5%
10.6%US$565.00US$323.00US$584.8919
Jul ’24US$461.69
US$439.12
-4.9%
10.4%US$500.00US$304.00US$532.0520
Jun ’24US$404.40
US$438.16
+8.3%
10.1%US$497.00US$304.00US$572.0821
May ’24US$367.37
US$415.50
+13.1%
10.1%US$480.00US$296.00US$590.8620
Apr ’24US$355.06
US$415.35
+17.0%
9.9%US$480.00US$296.00US$604.4220
Mar ’24US$357.54
US$416.95
+16.6%
9.8%US$480.00US$296.00US$589.9519
Feb ’24US$362.01
US$401.29
+10.9%
9.9%US$480.00US$296.00US$515.5119
Jan ’24US$337.97
US$396.13
+17.2%
9.5%US$480.00US$296.00US$498.9119
Dec ’23US$365.38
US$396.55
+8.5%
9.5%US$480.00US$296.00US$467.3519
Nov ’23US$334.33
US$400.16
+19.7%
10.3%US$500.00US$289.00US$439.1719

Analyst Forecast: Target price is less than 20% higher than the current share price.

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