Martin Marietta Materials, Inc.

NYSE:MLM Stock Report

Market Cap: US$33.3b

Martin Marietta Materials Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • 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 ($535.64) is trading below our estimate of fair value ($676.55)

Significantly Below Fair Value: MLM is trading below fair value by more than 20%.

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 Ratio16.5x
EarningsUS$1.99b
Market CapUS$33.30b

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 Average34.3x
VMC Vulcan Materials
41x18.0%US$36.0b
CRH CRH
18.4x8.8%US$66.0b
EXP Eagle Materials
17.8x9.8%US$8.9b
SUM Summit Materials
60x43.1%US$8.9b
MLM Martin Marietta Materials
16.5x-13.9%US$33.3b

Price-To-Earnings vs Peers: MLM is good value based on its Price-To-Earnings Ratio (16.5x) compared to the peer average (34.3x).

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 16.5xIndustry Avg. 16.8xNo. of Companies45PE01224364860+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MLM is good value based on its Price-To-Earnings Ratio (16.5x) compared to the Global Basic Materials industry average (16.8x).

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 Ratio16.5x
Fair PE Ratio13.4x

Price-To-Earnings vs Fair Ratio: MLM is expensive based on its Price-To-Earnings Ratio (16.5x) compared to the estimated Fair Price-To-Earnings Ratio (13.4x).

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$535.64
US$644.04
+20.2%
14.2%US$730.00US$370.00n/a21
Dec ’25US$600.00
US$636.55
+6.1%
14.8%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$577.19
-2.2%
11.2%US$642.00US$350.00n/a22
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$330.00US$600.0022
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

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 23:35
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Martin Marietta Materials, Inc. is covered by 40 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William GraceAvondale Partners
Ishan MajumdarBaptista Research
Adam SeidenBarclays