MLM Martin Marietta Materials, Inc. Common Stock

NYSE · Construction · View on SEC EDGAR ↗
$531.67
Price · Aug 18, 2026
Fundamentals as of Jul 30, 2026

About Martin Marietta Materials, Inc. Common Stock Company overview from Wikipedia

Martin Marietta Materials, Inc. is an American company and a supplier of aggregates and heavy building materials, with operations spanning 26 states, Canada, and the Caribbean. In particular, Martin Marietta Materials supplies resources for the construction of roads, sidewalks, and foundations.

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Martin Marietta Materials, Inc. is an American company and a supplier of aggregates and heavy building materials, with operations spanning 26 states, Canada, and the Caribbean. In particular, Martin Marietta Materials supplies resources for the construction of roads, sidewalks, and foundations.

## History

The present-day materials business is distantly descended from Superior Stone, an aggregates company founded in 1939 by brothers Willam Trent Ragland and Edmond Ragland in Raleigh, North Carolina. In 1959, the company, led by William Trent Ragland as president, merged with the American-Marietta Corporation, which merged with the Glenn L. Martin Company a year later to form the Martin Marietta Corporation in 1961. In 1971, Martin Marietta acquired Harvey Aluminum, a company which made aluminum oxide, aluminum ingot and aircraft grade aluminum sheet. William Trent Ragland continued as CEO until 1977, after retiring and becoming Emeritus Senior Vice President. Martin Marietta merged with Lockheed Corporation in 1995, and a year later, Martin Marietta Materials was spun off as an independent company, with Lockheed Martin retaining various aerospace, defense, and other manufacturing lines of business.

In 2014, the company acquired Texas Industries for $2 billion.

Martin Marietta's Magnesia Specialties business provides a full range of magnesium oxide, magnesium hydroxide, and dolomitic lime products.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

MLM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$531.67
Market Cap
$31.92B
P/E (TTM)
28.2
EPS (TTM)
$18.77
Revenue (TTM)
$6.15B
Div Yield
0.61%
ROE
11.7%
Debt/Equity
0.5
52W Range
$523 – $711

MLM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $6.15B
9-point trend, +55.1%
2017-12-31 2025-12-31
EPS $18.77
9-point trend, +66.8%
2017-12-31 2025-12-31
Free Cash Flow $978M
8-point trend, +295.1%
2017-12-31 2025-12-31
Margins 18.5%
8-point trend, +25.3%
2017-12-31 2025-12-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
MLM
Peer Median
P/E (TTM)
5-point trend, -15.5%
28.2
24.5
P/S (TTM)
5-point trend, +20.3%
5.2
2.7
P/B
5-point trend, -11.0%
3.2
4.7
EV / EBITDA
5-point trend, -9.0%
17.9
Price / FCF
5-point trend, -0.2%
32.6

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
MLM
Peer Median
Gross Margin
5-point trend, +23.3%
30.7%
28.0%
Operating Margin
5-point trend, +29.9%
23.4%
Net Profit Margin
5-point trend, +42.4%
18.5%
13.8%
ROA
5-point trend, +9.6%
6.2%
6.6%
ROE
5-point trend, +3.2%
11.7%
13.1%
ROIC
5-point trend, +10.0%
7.6%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
MLM
Peer Median
Debt / Equity
5-point trend, -32.0%
0.5
8.8
Current Ratio
5-point trend, +32.6%
3.6
2.8
Quick Ratio
5-point trend, -35.7%
0.9

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
MLM
Peer Median
Revenue YoY
5-point trend, +13.6%
8.6%
Revenue CAGR 3Y
5-point trend, +13.6%
-0.06%
Revenue CAGR 5Y
5-point trend, +13.6%
5.4%
EPS YoY
5-point trend, +67.3%
-42.1%
Net Income YoY
5-point trend, +61.9%
-43.0%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
MLM
Peer Median
EPS (Diluted)
5-point trend, +67.3%
$18.77

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
MLM
Peer Median
Payout Ratio
5-point trend, -17.6%
17.3%

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
0.61%
Payout Ratio
17.3%
5Y Div CAGR
Ex-dateAmount
June 1, 2026$0.8300
March 2, 2026$0.8300
Dec. 1, 2025$0.8300
Sept. 2, 2025$0.8300
June 2, 2025$0.7900
March 3, 2025$0.7900
Dec. 2, 2024$0.7900
Sept. 3, 2024$0.7900
June 3, 2024$0.7400
March 1, 2024$0.7400
Nov. 30, 2023$0.7400
Aug. 31, 2023$0.7400
May 31, 2023$0.6600
March 3, 2023$0.6600
Nov. 30, 2022$0.6600
Aug. 31, 2022$0.6600
May 31, 2022$0.6100
Feb. 28, 2022$0.6100
Nov. 30, 2021$0.6100
Aug. 31, 2021$0.6100

MLM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 30 analysts
  • Strong Buy 7 23.3%
  • Buy 10 33.3%
  • Hold 12 40.0%
  • Sell 1 3.3%
  • Strong Sell 0 0.0%

12-Month Price Target

23 analysts · 2026-08-16
Median target $672.00 +26.4%
Mean target $662.65 +24.6%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.05%
Period EPS Actual EPS Est Surprise
June 30, 2026 $5.00 $4.79 0.21%
March 31, 2026 $1.93 $1.93 -0.00%
Dec. 31, 2025 $4.62 $4.69 -0.07%
Sept. 30, 2025 $6.85 $6.78 0.07%
June 30, 2025 $5.43 $5.35 0.08%
March 31, 2025 $1.90 $1.88 0.03%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
MLM $37.55B 33.2 8.6% 18.5% 11.7% 30.7%
VMC $37.25B 35.2 7.1% 13.6% 12.9% 27.4%
AMRZ $29.91B 25.3 0.95% 10.0% 10.2% 25.7%
EXP $5.92B 14.4 2.1% 18.4% 28.1% 28.3%
KNF $3.99B 25.5 8.5% 5.0% 10.1% 18.4%
USLM 25.6 17.3% 36.0% 22.5% 48.9%
KNF $3.99B 25.5 8.5% 5.0% 10.1% 18.4%
RMIX
SMID $193M 15.4 19.0% 13.4% 24.1% 27.9%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 15
Annual Income Statement data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +107.9% $6.15B $5.66B $5.85B $6.16B $5.41B $4.73B $4.74B $4.24B $3.97B $3.82B $3.54B $2.96B
Cost of Revenue 12-point trend, +74.9% $4.26B $4.03B $4.11B $4.74B $4.07B $3.48B $3.56B $3.28B $2.99B $2.91B $2.81B $2.44B
Gross Profit 12-point trend, +261.6% $1.89B $1.64B $1.75B $1.42B $1.35B $1.25B $1.18B $967M $972M $912M $727M $522M
SG&A Expense 12-point trend, +161.8% $443M $429M $425M $397M $351M $306M $303M $281M $262M $242M $211M $169M
Operating Income 12-point trend, +356.4% $1.44B $2.48B $1.33B $1.21B $974M $1.01B $885M $691M $700M $677M $494M $315M
Interest Expense 12-point trend, +248.2% $230M $169M $165M $169M $143M $118M $129M $137M $92M $82M $76M $66M
Other Non-op 12-point trend, +5148.6% $19M $56M $58M $53M $24M $2M $-7M $22M $10M $11M $-4M $362.0K
Pretax Income 12-point trend, +392.0% $1.23B $2.37B $1.23B $1.09B $856M $889M $748M $576M $619M $607M $414M $249M
Income Tax 12-point trend, +148.8% $236M $550M $234M $235M $153M $168M $136M $106M $-94M $182M $125M $95M
Net Income 12-point trend, +630.7% $1.14B $2.00B $1.17B $867M $702M $721M $612M $470M $713M $425M $289M $156M
EPS (Basic) 12-point trend, +589.0% $18.81 $32.50 $18.88 $13.91 $11.26 $11.56 $9.77 $7.46 $11.30 $6.66 $4.31 $2.73
EPS (Diluted) 12-point trend, +592.6% $18.77 $32.41 $18.82 $13.87 $11.22 $11.54 $9.74 $7.43 $11.25 $6.63 $4.29 $2.71
Shares (Basic) 12-point trend, +6.4% 60,500,000 61,400,000 61,900,000 62,300,000 62,400,000 62,300,000 62,500,000 62,900,000 62,900,000 63,610,000 66,770,000 56,854,000
Shares (Diluted) 12-point trend, +6.2% 60,600,000 61,600,000 62,100,000 62,500,000 62,600,000 62,400,000 62,700,000 63,100,000 63,200,000 63,861,000 67,020,000 57,088,000
EBITDA 11-point trend, +285.8% $2.07B $3.28B $2.11B $1.71B $1.43B $1.40B $1.26B · $998M $953M $743M $538M
Balance Sheet 26
Annual Balance Sheet data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, -38.3% $67M $670M $1.27B $358M $258M $207M $21M $45M $1.45B $50M $168M $109M
Receivables 11-point trend, +71.7% $723M $678M $753M $786M $774M $575M $574M $523M $487M · $411M $421M
Inventory 12-point trend, +122.3% $1.08B $1.02B $989M $874M $753M $709M $691M $663M $601M $522M $469M $485M
Other Current Assets 12-point trend, +220.9% $95M $68M $88M $81M $138M $70M $141M $135M $97M $57M $33M $30M
Current Assets 12-point trend, +205.8% $3.19B $2.45B $3.92B $2.88B $2.03B $1.67B $1.43B $1.37B $2.63B $1.09B $1.08B $1.04B
PP&E (Net) 12-point trend, +202.4% $10.29B $9.66B $6.19B $6.32B $6.34B $5.24B $5.21B $5.16B $3.59B $3.42B $3.16B $3.40B
PP&E (Gross) 12-point trend, +169.3% $15.33B $15.09B $10.71B $10.66B $10.37B $8.96B $8.63B $8.29B $6.50B $6.12B $5.61B $5.69B
Accum. Depreciation 12-point trend, +120.2% $5.04B $4.98B $4.52B $4.34B $4.03B $3.71B $3.43B $3.14B $2.91B $2.69B $2.46B $2.29B
Goodwill 12-point trend, +74.7% $3.61B $3.39B $3.39B $3.65B $3.49B $2.41B $2.40B $2.40B $2.16B $2.16B $2.07B $2.07B
Intangibles 12-point trend, -98.5% $8M $62M $664M $812M $1.03B $472M $458M $472M $472M $483M $482M $542M
Other Non-current Assets 12-point trend, +624.3% $788M $646M $561M $547M $426M $295M $133M $128M $102M $120M $141M $109M
Total Assets 12-point trend, +159.4% $18.71B $18.17B $15.12B $14.99B $14.39B $10.58B $10.13B $9.55B $8.99B $7.30B $6.96B $7.21B
Accounts Payable 12-point trend, +92.1% $389M $375M $343M $385M $356M $208M $230M $211M $184M $179M $165M $202M
Current Liabilities 12-point trend, +125.6% $895M $1.00B $1.17B $1.45B $753M $499M $838M $787M $694M $547M $367M $397M
Capital Leases 12-point trend, +1634.0% $320M $327M $327M $336M $379M $410M $434M $8M $10M $13M $12M $18M
Deferred Tax 12-point trend, +158.4% $1.27B $1.17B $874M $914M $895M $782M $733M $706M $411M $663M $583M $490M
Other Non-current Liabilities 12-point trend, +464.3% $903M $928M $389M $385M $674M $370M $339M $379M $234M $194M $173M $160M
Total Liabilities 12-point trend, +202.7% $8.68B $8.71B $7.09B $7.82B $7.86B $4.69B $4.78B $4.60B $4.31B $3.16B $2.90B $2.87B
Long-term Debt 12-point trend, +235.8% $5.32B $5.41B $4.35B $5.04B $5.10B $2.63B $2.77B $3.12B $3.03B $1.69B $1.57B $1.59B
Total Debt 11-point trend, +235.8% $5.32B $5.41B $4.35B $5.04B $5.10B $2.63B $2.77B · $3.03B $1.69B $1.57B $1.59B
Common Stock 12-point trend, +49.0% $1M $1M $1M $600.0K $600.0K $600.0K $600.0K $600.0K $628.0K $630.0K $643.0K $671.0K
Retained Earnings 12-point trend, +427.8% $6.40B $5.92B $4.56B $3.72B $3.16B $2.61B $2.08B $1.69B $1.44B $936M $874M $1.21B
AOCI 12-point trend, +156.5% $60M $-13M $-49M $-38M $-98M $-158M $-146M $-144M $-129M $-131M $-106M $-106M
Stockholders' Equity 12-point trend, +130.6% $10.03B $9.45B $8.03B $7.17B $6.54B $5.89B $5.35B $4.95B $4.68B $4.14B $4.06B $4.35B
Liabilities + Equity 12-point trend, +159.2% $18.71B $18.17B $15.12B $14.99B $14.39B $10.58B $10.13B $9.55B $8.99B $7.30B $6.96B $7.22B
Shares Outstanding 12-point trend, -10.4% 60,309,739 61,126,646 61,821,421 62,102,353 62,393,990 62,288,613 62,400,000 62,500,000 62,900,000 63,200,000 64,479,000 67,293,000
Cash Flow 19
Annual Cash Flow data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +186.0% $637M $573M $513M $506M $452M $394M $372M $344M $297M $285M $264M $223M
Stock-based Comp 12-point trend, +411.5% $46M $58M $50M $43M $43M $30M $34M $29M $30M $20M $14M $9M
Deferred Tax 12-point trend, +37.2% $69M $-45M $-36M $-1M $92M $44M $29M $85M $-239M $67M $85M $50M
Amort. of Intangibles 12-point trend, +179.2% $26M $23M $22M $27M $24M $13M $13M $14M $14M $14M $14M $9M
Other Non-cash 11-point trend, -85.8% $-104M $-1.12B $-168M $-424M $-152M $-138M $-81M · $-144M $-120M $-78M $-56M
Operating Cash Flow 12-point trend, +367.7% $1.78B $1.46B $1.53B $991M $1.14B $1.05B $966M $705M $658M $689M $581M $382M
CapEx 12-point trend, +247.6% $807M $855M $650M $482M $423M $360M $394M $376M $410M $387M $318M $232M
Investing Cash Flow 12-point trend, -3119.5% $-1.59B $-2.44B $459M $-484M $-3.47B $-410M $-386M $-1.95B $-386M $-555M $89M $-49M
Debt Issued 11-point trend, +217.5% · $2.76B $0 $0 $2.90B $628M $625M $1.00B $2.41B $560M $230M $869M
Net Debt Issued 11-point trend, -289.9% $-735M $1.07B $-700M $-54M $2.48B $-149M $-350M · $1.34B $111M $-15M $-189M
Stock Issued 3-point trend, -46.3% · · · · · · · · · $21M $37M $40M
Stock Repurchased 11-point trend, -13.5% $450M $450M $150M $150M $0 $50M $98M $100M $100M $259M $520M ·
Net Stock Activity 10-point trend, -1233.1% $-450M $-450M $-150M $-150M · $-50M $-98M · $-100M $-238M $-483M $40M
Dividends Paid 12-point trend, +115.8% $197M $189M $174M $160M $148M $140M $130M $116M $109M $105M $107M $91M
Financing Cash Flow 12-point trend, -200.6% $-800M $373M $-1.06B $-407M $2.29B $-357M $-604M $-158M $1.12B $-252M $-609M $-266M
Net Change in Cash 12-point trend, -1010.7% $-603M $-612M $923M $100M $-46M $283M $-24M $-1.40B $1.40B $-118M $60M $66M
Taxes Paid 12-point trend, +1103.4% $192M $382M $292M $201M $103M $115M $102M $29M $156M $124M $47M $16M
Free Cash Flow 11-point trend, +554.3% $978M $604M $878M $509M $715M $690M $573M · $248M $291M $255M $149M
Levered FCF 11-point trend, +629.8% $792M $474M $745M $377M $597M $595M $467M · $142M $234M $202M $109M
Profitability 8
Annual Profitability data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
Gross Margin 11-point trend, +74.0% 30.7% 28.7% 29.8% 23.1% 24.9% 26.5% 24.9% · 24.5% 23.8% 20.4% 17.7%
Operating Margin 11-point trend, +119.6% 23.4% 41.4% 23.5% 19.6% 18.0% 21.3% 18.7% · 17.7% 17.5% 13.5% 10.6%
Net Margin 11-point trend, +251.5% 18.5% 30.5% 17.2% 14.1% 13.0% 15.2% 12.9% · 18.0% 11.1% 8.2% 5.3%
Pretax Margin 11-point trend, +136.7% 19.9% 39.7% 22.0% 17.7% 15.8% 18.8% 15.8% · 15.6% 15.9% 11.7% 8.4%
EBITDA Margin 11-point trend, +85.5% 33.7% 50.2% 31.1% 27.8% 26.3% 29.6% 26.5% · 25.1% 24.9% 21.0% 18.2%
ROA 11-point trend, +193.8% 6.2% 12.0% 7.7% 5.9% 5.6% 7.0% 6.2% · 8.6% 5.8% 4.0% 2.1%
ROE 11-point trend, +226.9% 11.7% 22.8% 15.4% 12.7% 11.3% 12.8% 11.9% · 15.8% 10.3% 7.0% 3.6%
ROIC 11-point trend, +129.8% 7.6% 14.0% 10.4% 7.8% 6.9% 9.6% 8.9% · 10.5% 8.0% 5.9% 3.3%
Liquidity & Solvency 5
Annual Liquidity & Solvency data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 11-point trend, +9.8% 3.6 2.5 3.3 2.0 2.7 3.3 1.7 · 3.8 2.0 2.9 3.2
Quick Ratio 11-point trend, -33.9% 0.9 1.3 1.7 0.8 1.4 1.6 0.7 · 2.1 0.1 1.6 1.3
Debt / Equity 11-point trend, +45.6% 0.5 0.6 0.5 0.7 0.8 0.4 0.5 · 0.6 0.4 0.4 0.4
LT Debt / Equity 11-point trend, +46.1% 0.5 0.6 0.5 0.6 0.8 0.4 0.5 · 0.6 0.4 0.4 0.4
Interest Coverage 11-point trend, +31.1% 6.2 16.0 9.7 7.1 6.8 8.5 6.8 · 7.7 8.2 6.3 4.8
Efficiency 3
Annual Efficiency data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 11-point trend, -16.5% 0.3 0.4 0.4 0.4 0.4 0.5 0.5 · 0.5 0.5 0.5 0.4
Inventory Turnover 11-point trend, -19.9% 4.1 4.2 5.1 5.8 5.6 5.0 5.3 · 5.1 5.7 6.0 5.1
Receivables Turnover 9-point trend, +40.2% 8.8 9.1 8.8 7.9 8.0 8.2 8.6 · · · 7.2 6.3
Per Share 6
Annual Per Share data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 11-point trend, +157.3% $166.34 $154.65 $129.94 $115.47 $104.73 $94.55 $85.75 · $74.43 $65.53 $62.92 $64.66
Revenue / Share 11-point trend, +95.9% $101.49 $106.10 $109.13 $98.57 $86.49 $75.80 $75.58 · $62.73 $59.80 $52.81 $51.81
Cash Flow / Share 11-point trend, +340.6% $29.46 $23.69 $24.61 $15.86 $18.17 $16.83 $15.41 · $10.41 $10.63 $8.55 $6.69
Cash / Share 11-point trend, -31.2% $1.11 $10.96 $20.57 $5.76 $4.14 $3.33 $0.34 · $23.00 $0.79 $2.61 $1.61
Dividend / Share 12-point trend, +102.5% $3 $3 $3 $3 $2 $2 $2 $2 $2 $2 $2 $2
EPS (TTM) 12-point trend, +592.6% $18.77 $32.41 $18.82 $13.87 $11.22 $11.54 $9.74 $7.43 $11.25 $6.63 $4.29 $2.71
Growth Rates 10
Annual Growth Rates data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, -40.4% 8.6% -3.2% -5.0% 13.8% 14.5% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -100.8% -0.06% 1.5% 7.3% · · · · · · · · ·
Revenue CAGR 5Y 5.4% · · · · · · · · · · ·
EPS YoY 5-point trend, -1419.5% -42.1% 72.2% 35.7% 23.6% -2.8% · · · · · · ·
EPS CAGR 3Y 3-point trend, -40.1% 10.6% 42.4% 17.7% · · · · · · · · ·
EPS CAGR 5Y 10.2% · · · · · · · · · · ·
Net Income YoY 5-point trend, -1573.5% -43.0% 70.7% 34.8% 23.4% -2.6% · · · · · · ·
Net Income CAGR 3Y 3-point trend, -45.9% 9.5% 41.6% 17.5% · · · · · · · · ·
Net Income CAGR 5Y 9.5% · · · · · · · · · · ·
Dividend CAGR 5Y 7.0% · · · · · · · · · · ·
Valuation (TTM) 17
Annual Valuation (TTM) data for MLM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +107.9% $6.15B $5.66B $5.85B $6.16B $5.41B $4.73B $4.74B $4.24B $3.97B $3.82B $3.54B $2.96B
Net Income TTM 12-point trend, +630.7% $1.14B $2.00B $1.17B $867M $702M $721M $612M $470M $713M $425M $289M $156M
Market Cap 11-point trend, +405.8% $37.55B $31.57B $30.84B $20.99B $27.49B $17.69B $17.45B · $13.90B $14.00B $8.81B $7.42B
Enterprise Value 11-point trend, +381.0% $42.81B $36.31B $33.92B $25.67B $32.33B $20.11B $20.20B · $15.48B $15.63B $10.21B $8.90B
P/E 12-point trend, -18.5% 33.2 15.9 26.5 24.4 39.3 24.6 28.7 23.1 19.6 33.4 31.8 40.7
P/S 11-point trend, +143.3% 6.1 5.6 5.3 3.4 5.1 3.7 3.7 · 3.5 3.7 2.5 2.5
P/B 11-point trend, +119.4% 3.7 3.3 3.8 2.9 4.2 3.0 3.3 · 3.0 3.4 2.2 1.7
P / Tangible Book 6-point trend, -0.5% 5.9 5.3 7.7 7.7 13.7 5.9 · · · · · ·
P / Cash Flow 11-point trend, +8.2% 21.0 21.6 20.2 21.2 24.2 16.8 18.1 · 21.1 20.6 15.4 19.5
P / FCF 11-point trend, -22.7% 38.4 52.3 35.1 41.2 38.5 25.6 30.5 · 56.1 48.0 34.5 49.7
EV / EBITDA 11-point trend, +24.7% 20.6 11.1 16.1 15.0 22.7 14.4 16.1 · 15.5 16.4 13.7 16.6
EV / FCF 11-point trend, -26.5% 43.8 60.1 38.6 50.4 45.2 29.1 35.3 · 62.5 53.6 40.1 59.5
EV / Revenue 11-point trend, +131.3% 7.0 6.4 5.8 4.2 6.0 4.3 4.3 · 3.9 4.1 2.9 3.0
Dividend Yield 11-point trend, -57.7% 0.52% 0.60% 0.56% 0.76% 0.54% 0.79% 0.74% · 0.78% 0.75% 1.2% 1.2%
Earnings Yield 12-point trend, +22.4% 3.0% 6.3% 3.8% 4.1% 2.5% 4.1% 3.5% 4.3% 5.1% 3.0% 3.1% 2.5%
Payout Ratio 11-point trend, -70.5% 17.3% 9.5% 14.9% 18.4% 21.0% 19.5% 21.2% · 15.3% 24.7% 37.2% 58.7%
Annual Payout 12-point trend, +115.8% $197M $189M $174M $160M $148M $140M $130M $116M $109M $105M $107M $91M

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312023-03-312022-12-31
Revenue $6.15B$5.66B$5.85B$6.16B
Gross Margin % 30.7%28.7%29.8%23.1%
Operating Margin % 23.4%41.4%23.5%19.6%
Net Income $1.14B$2.00B$1.17B$867M
Diluted EPS $18.77$32.41$18.82$13.87
Balance Sheet
2025-12-312024-12-312023-12-312023-03-312022-12-31
Debt / Equity 0.50.60.50.7
Current Ratio 3.62.53.32.0
Quick Ratio 0.91.31.70.8
Cash Flow
2025-12-312024-12-312023-12-312023-03-312022-12-31
Free Cash Flow $978M$604M$878M$509M

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Institutional owners (13F) 1,145 filers · $24.8B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
111 (+1 vs prior Q) 95 (-24 vs prior Q) 349 (-16 vs prior Q) 371 (+16 vs prior Q) +8.5M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $4,227,716,320 6,789,767 17.08% Shares
VANGUARD CAPITAL MANAGEMENT LLC $2,266,260,874 3,929,705 9.15% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $1,843,937,697 3,197,395 7.45% Shares
STATE STREET CORP $1,822,163,811 3,159,639 7.36% Shares
Aristotle Capital Management, LLC $1,056,324,799 1,831,597 4.27% Shares
VICTORY CAPITAL MANAGEMENT INC $1,028,511,969 1,783,432 4.15% Shares
GEODE CAPITAL MANAGEMENT, LLC $806,477,894 1,404,830 3.26% Shares
TCI FUND MANAGEMENT LTD $758,423,360 1,315,109 3.06% Shares
FMR LLC $697,368,492 1,209,240 2.82% Shares
Select Equity Group, L.P. $583,190,759 1,011,255 2.36% Shares
GARDNER RUSSO & QUINN LLC $406,784,959 705,367 1.64% Shares
KING LUTHER CAPITAL MANAGEMENT CORP $376,691,213 653,184 1.52% Shares
NORGES BANK $321,304,368 557,143 1.30% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $284,043,204 492,532 1.15% Shares
DIMENSIONAL FUND ADVISORS LP $281,133,446 487,486 1.14% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $279,297,540 484,303 1.13% Shares
D1 Capital Partners L.P. $198,996,102 345,060 0.80% Shares
DAVENPORT & Co LLC $194,747,976 336,791 0.79% Shares
VANGUARD FIDUCIARY TRUST CO $194,520,333 337,299 0.79% Shares
Skye Global Management LP $145,328,400 252,000 0.59% Shares
Mawer Investment Management Ltd. $139,299,002 241,545 0.56% Shares
HAWK RIDGE CAPITAL MANAGEMENT LP $137,632,339 238,655 0.56% Shares
Douglass Winthrop Advisors, LLC $125,185,999 217,073 0.51% Shares
59 North Capital Management, LP $123,497,998 214,146 0.50% Shares
Diamond Hill Capital Management, LLC (Investment Advisor) $123,359,014 213,905 0.50% Shares
Findlay Park Partners LLP $119,527,995 207,262 0.48% Shares
Clearbridge Investments, LLC $110,073,046 190,867 0.44% Shares
LONDON CO OF VIRGINIA $107,872,401 187,051 0.44% Shares
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC $104,902,883 181,902 0.42% Shares
GOLDMAN SACHS GROUP INC $98,024,994 169,976 0.40% Shares
Swiss National Bank $98,010,165 169,950 0.40% Shares
RDST Capital LLC $94,319,285 163,550 0.38% Shares
Rathbones Group PLC $92,482,495 160,365 0.37% Shares
BANK OF AMERICA CORP /DE/ $91,803,719 159,188 0.37% Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. $90,590,000 157,083 0.37% Shares
ENVESTNET ASSET MANAGEMENT INC $87,541,112 151,797 0.35% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $84,998,083 147,387 0.34% Shares
Camrose Capital Investment Partners LLP $84,296,239 146,170 0.34% Shares
MCDONALD CAPITAL INVESTORS INC/CA $80,147,459 138,976 0.32% Shares
Sumitomo Mitsui Trust Group, Inc. $74,619,213 129,390 0.30% Shares
Vanguard Global Advisers, LLC $74,525,788 129,228 0.30% Shares
BlackRock, Inc. $73,983,690 128,288 0.30% Shares
Freestone Grove Partners LP $71,661,895 124,262 0.29% Shares
Junto Capital Management LP $71,248,978 123,546 0.29% Shares
BAILLIE GIFFORD & CO $66,545,413 115,390 0.27% Shares
Progeny 3, Inc. $65,253,605 113,150 0.26% Shares
Corient Private Wealth LP $64,588,712 111,998 0.26% Shares
SILVERCREST ASSET MANAGEMENT GROUP LLC $64,140,574 111,220 0.26% Shares
RHUMBLINE ADVISERS $63,811,179 110,649 0.26% Shares
VANGUARD ASSET MANAGEMENT, Ltd $62,979,677 109,207 0.25% Shares
M.D. Sass, LLC $62,001,777 107,511 0.25% Shares
UBS Group AG $61,422,587 106,507 0.25% Shares
PRINCIPAL FINANCIAL GROUP INC $61,278,725 106,224 0.25% Shares
ALKEON CAPITAL MANAGEMENT LLC $57,300,912 99,360 0.23% Shares
National Pension Service $54,913,951 95,221 0.22% Shares
Quantum Capital Management, LLC / NJ $54,046,017 93,716 0.22% Shares
BNP PARIBAS FINANCIAL MARKETS $52,802,075 91,559 0.21% Shares
Fenimore Asset Management Inc $50,833,798 88,146 0.21% Shares
Harvey Partners, LLC $50,193,085 87,035 0.20% Shares
CIBC Bancorp USA Inc. $49,597,930 85,778 0.20% Shares
Legal & General Group Plc $48,061,026 83,338 0.19% Shares
Pictet Asset Management Holding SA $47,367,831 82,136 0.19% Shares
California Public Employees Retirement System $45,586,405 79,047 0.18% Shares
CANADA PENSION PLAN INVESTMENT BOARD $44,414,551 77,015 0.18% Shares
TimesSquare Capital Management, LLC $43,149,655 73,299 0.17% Shares
JANE STREET GROUP, LLC $41,810,750 72,500 0.17% Call option
BARCLAYS PLC $41,724,821 72,351 0.17% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $41,297,079 70,152 0.17% Shares
TD Asset Management Inc $41,061,040 71,200 0.17% Shares
Mitsubishi UFJ Trust & Banking Corp $40,763,463 70,684 0.16% Shares
GILDER GAGNON HOWE & CO LLC $39,281,113 68,114 0.16% Shares
AQR CAPITAL MANAGEMENT LLC $37,694,180 65,362 0.15% Shares
ALLIANCEBERNSTEIN L.P. $37,626,660 63,917 0.15% Shares
Bornite Capital Management LP $37,600,840 65,200 0.15% Shares
CONGRESS ASSET MANAGEMENT CO $35,149,884 60,950 0.14% Shares
One Madison Group LLC $34,602,000 60,000 0.14% Shares
Quantinno Capital Management LP $34,323,059 59,516 0.14% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $33,688,390 57,227 0.14% Shares
RAYMOND JAMES FINANCIAL INC $31,897,822 55,311 0.13% Shares
MILLENNIUM MANAGEMENT LLC $31,217,348 54,131 0.13% Shares
Congress Wealth Management LLC / DE / $31,180,011 56,797 0.13% Shares
STEPHENS INC /AR/ $31,137,994 53,993 0.13% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $30,412,851 52,736 0.12% Shares
AVIVA PLC $30,098,550 52,191 0.12% Shares
Cannell & Spears LLC $30,074,905 52,150 0.12% Shares
CONFLUENCE INVESTMENT MANAGEMENT LLC $30,043,113 52,095 0.12% Shares
LPL Financial LLC $29,864,245 51,784 0.12% Shares
TWO SIGMA INVESTMENTS, LP $29,661,411 51,433 0.12% Shares
Gradient Investments LLC $28,580,811 49,559 0.12% Shares
HighTower Advisors, LLC $28,014,557 48,577 0.11% Shares
WEITZ INVESTMENT MANAGEMENT, INC. $27,318,279 47,370 0.11% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $27,162,570 47,100 0.11% Call option
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $26,980,910 46,785 0.11% Shares
NEUBERGER BERMAN GROUP LLC $26,588,272 46,104 0.11% Shares
GATEWAY INVESTMENT ADVISERS LLC $26,207,086 45,443 0.11% Shares
Douglas Lane & Associates, LLC $25,204,086 43,704 0.10% Shares
STRS OHIO $25,023,590 43,391 0.10% Shares
TRAN CAPITAL MANAGEMENT, L.P. $24,839,812 43,072 0.10% Shares
Stockbridge Partners LLC $24,480,915 42,450 0.10% Shares
BLAIR WILLIAM & CO/IL $24,287,708 42,115 0.10% Shares

Company insiders 51 insiders · 24 officers · 22 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Howard C Nye Chairman, Pres & CEO March 1, 2026 A 176,038 0 0 $0
James Aj Nickolas EVP and CFO Feb. 24, 2025 F 26,643 0 0 $0
Anne H Lloyd EVP and CFO May 22, 2017 F 59,786 0 0 $0
Christopher William Samborski EVP, COO May 1, 2026 A 21,762 0 0 $0
George Frederick Schoen EVP, GC and Corp. Secretary March 1, 2026 A 23,673 0 0 $0
Donald A. Mccunniff EVP and CHRO March 1, 2026 A 7,518 0 0 $0
Jason Paul Flynn SVP and CIO Feb. 24, 2026 F 5,494 0 0 $0
Robert J Cardin SVP, Controller & CAO Feb. 24, 2026 F 12,459 0 0 $0
Roselyn R Bar Executive Vice President Dec. 16, 2025 F 62,594 0 0 $0
Oliver W Brooks SVP - Enterprise Excellence Feb. 24, 2025 F 5,178 0 0 $0
Bradley D Kohn SVP, General Counsel and Secy Feb. 21, 2025 A 3,625 0 0 $0
Kelly Gean Bennett SVP, CHRO Feb. 26, 2024 F 4,454 0 0 $0
Craig M Latorre Sr. VP, CHRO Dec. 1, 2023 F 8,634 0 0 $0
John P Mohr SVP - CIO Dec. 1, 2023 F 14,974 0 0 $0
Daniel L. Grant SVP - Strategy and Development Feb. 22, 2021 F 19,065 0 0 $0
Dana F. Guzzo SVP/Controller/CAO Feb. 22, 2019 F 22,027 0 0 $0
Bruce A Vaio Executive VP Dec. 11, 2012 S 22,301 0 0 $0
Daniel G Shepherd Exec VP May 23, 2011 F 47,500 0 0 $0
STEWART JONATHAN T SVP Human Resources Dec. 9, 2010 G 40,073 0 0 $0
SIPLING PHILIP J Exec. VP Dec. 1, 2009 F 60,601 0 0 $0
Donald M Moe Sr. VP Feb. 14, 2007 M 38,745 0 0 $0
David S Watterson VP and Chief Info. Officer Aug. 4, 2006 M 12,218 0 0 $0
HENRY JANICE K Sr. Vice Pres. June 1, 2006 M 25,839 0 0 $0
EASTERLIN DONALD J III Vice President Dec. 8, 2003 F 5,947 0 0 $0
Anthony R Foxx Director May 14, 2026 A 2,615 0 0 $0
Mary T Mack Director May 14, 2026 A 914 0 0 $0
Dorothy M Ables Director May 14, 2026 A 4,221 0 0 $0
Donald W Slager Director May 14, 2026 A 5,064 0 0 $0
Laree E Perez Director May 14, 2026 A 15,730 0 0 $0
Gayla J Delly Director May 14, 2026 A 313 0 0 $0
John J Koraleski Director Feb. 27, 2026 A 8,822 0 0 $0
Sue W Cole Director May 15, 2025 A 20,394 0 0 $0
Michael J Quillen Director May 9, 2024 G 21,306 0 0 $0
Smith W Davis Director Feb. 28, 2023 A 5,255 0 0 $0
ZELNAK STEPHEN P JR Director June 10, 2020 S 4,955 0 0 $0
Dennis L Rediker Director Feb. 28, 2019 A 17,775 0 0 $0
David G Maffucci Director May 31, 2018 A 17,874 0 0 $0
MCDONALD WILLIAM E Director Feb. 28, 2017 A 17,869 0 0 $0
MENAKER FRANK H JR Director March 1, 2016 M 20,576 0 0 $0
VINROOT RICHARD A Director Feb. 29, 2016 A 15,955 0 0 $0
BENNETT MARCUS C Director May 28, 2008 A 6,962 0 0 $0
SANSOM WILLIAM B Director June 30, 2006 A 2,899 0 0 $0
REED JAMES M Director May 24, 2005 M 6,244 0 0 $0
LEONARD BOBBY F Director Aug. 19, 2003 A 0 0 $0
ADAMSON RICHARD G Director Aug. 19, 2003 A 0 0 $0
Edward H Mcdermott 10% owner Nov. 30, 2010 P 0 0 0 $0
Michael J Petro Aug. 3, 2026 F 14,991 0 0 $0
Thomas Pike May 29, 2026 A 4,963 0 0 $0
David C Wajsgras May 29, 2026 A 5,028 0 0 $0
Martin J Lyons May 29, 2026 A 374 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 9 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Martin Marietta Materials, Inc. Feb. 5, 2014 Initial filing SEC
Undisclosed reporting person, Undisclosed reporting person March 27, 2013 Initial filing SEC
Southeastern Asset Management, Inc. I.D. No., O. Mason Hawkins I.D. No. XXX-XX-XXXX (2) March 18, 2013 Initial filing SEC
Undisclosed reporting person, Undisclosed reporting person March 11, 2013 Initial filing SEC
Undisclosed reporting person, Undisclosed reporting person Feb. 11, 2013 Initial filing SEC
Undisclosed reporting person, Undisclosed reporting person Jan. 20, 2012 Initial filing Passive investment SEC
SPO Partners II, L.P., SPO Advisory Partners, L.P., San Francisco Partners, L.P., SF Advisory Partners, L.P., SPO Advisory Corp., John H. Scully, William E. Oberndorf, Edward H. McDermott ×5 filings Aug. 10, 2011 Initial filing SEC
Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person Sept. 28, 2007 Initial filing SEC
Third Point LLC I.D., Daniel S. Loeb ×3 filings May 9, 2007 Initial filing SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 166 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
SUPP · TCW ETF Trust 5.26% 1,031 NS April 30, 2026 N-PORT
PKB · Invesco Exchange-Traded Fund Trust 4.89% 33,843 SH Aug. 8, 2026 Daily
DRES · GMO ETF Trust 3.68% 2,293 NS May 31, 2026 N-PORT
RSPM · Invesco Exchange-Traded Fund Trust 3.64% 12,293 SH Aug. 8, 2026 Daily
UYM · ProShares Trust 3.07% 2,112 NS May 31, 2026 N-PORT
FMAT · FIDELITY COVINGTON TRUST 2.39% 23,311 NS April 30, 2026 N-PORT
VAW · VANGUARD WORLD FUND 2.27% 176,807 SH Aug. 8, 2026 Daily
PWRD · TCW ETF Trust 1.99% 47,336 NS April 30, 2026 N-PORT
PAVE · Global X Funds 1.90% 442,364 NS May 31, 2026 N-PORT
TOLL · Tema ETF Trust 1.58% 1,334 NS May 31, 2026 N-PORT
FMAG · FIDELITY COVINGTON TRUST 1.31% 5,340 NS April 30, 2026 N-PORT
IFRA · iShares Trust 1.17% 99,563 SH Aug. 8, 2026 Daily
NUMV · Nushares ETF Trust 1.10% 7,691 NS April 30, 2026 N-PORT
SZNE · Pacer Funds Trust 1.06% 229 NS April 30, 2026 N-PORT
MXI · iShares Trust 1.03% 6,769 SH Aug. 8, 2026 Daily
YALL · Tidal Trust I 0.92% 1,538 NS May 31, 2026 N-PORT
IGE · iShares Trust 0.86% 11,922 SH Aug. 8, 2026 Daily
VOT · VANGUARD INDEX FUNDS 0.76% 461,634 SH Aug. 8, 2026 Daily
IMCG · iShares Trust 0.44% 32,922 SH Aug. 8, 2026 Daily
AVMC · AMERICAN CENTURY ETF TRUST 0.38% 2,638 NS May 31, 2026 N-PORT
IYJ · iShares Trust 0.37% 13,582 SH Aug. 8, 2026 Daily
DFLV · Dimensional ETF Trust 0.36% 33,811 NS April 30, 2026 N-PORT
VO · VANGUARD INDEX FUNDS 0.34% 1,305,860 SH Aug. 8, 2026 Daily
IWS · iShares Trust 0.31% 90,118 SH Aug. 8, 2026 Daily
NBCR · Neuberger Berman ETF Trust 0.25% 3,800 NS May 31, 2026 N-PORT
MSLC · MORGAN STANLEY PATHWAY FUNDS 0.25% 16,929 NS May 31, 2026 N-PORT
IWR · iShares Trust 0.23% 243,177 SH Aug. 8, 2026 Daily
FXR · First Trust Exchange-Traded AlphaDE… 0.22% 2,531 NS April 30, 2026 N-PORT
IMCB · iShares Trust 0.22% 6,967 SH Aug. 8, 2026 Daily
ESUM · Strategy Shares 0.21% 526 NS April 30, 2026 N-PORT
RSP · Invesco Exchange-Traded Fund Trust 0.19% 335,429 SH Aug. 8, 2026 Daily
GSEW · Goldman Sachs ETF Trust 0.19% 5,649 NS May 31, 2026 N-PORT
SIZE · iShares Trust 0.18% 1,487 SH Aug. 8, 2026 Daily
HELO · J.P. Morgan Exchange-Traded Fund Tr… 0.18% 11,803 NS April 30, 2026 N-PORT
EUSA · iShares, Inc. 0.18% 6,384 SH Aug. 8, 2026 Daily
XOEF · iShares Trust 0.18% 75 SH Aug. 8, 2026 Daily
FTC · First Trust Exchange-Traded AlphaDE… 0.16% 3,339 NS April 30, 2026 N-PORT
FDMO · FIDELITY COVINGTON TRUST 0.16% 2,210 NS April 30, 2026 N-PORT
CRTC · DBX ETF Trust 0.16% 362 NS May 31, 2026 N-PORT
DFUV · Dimensional ETF Trust 0.16% 36,855 NS April 30, 2026 N-PORT
EQL · ALPS ETF Trust 0.16% 3,750 NS May 31, 2026 N-PORT
VIG · VANGUARD SPECIALIZED FUNDS 0.15% 339,239 SH Aug. 8, 2026 Daily
USXF · iShares Trust 0.13% 3,511 SH Aug. 8, 2026 Daily
SCHG · SCHWAB STRATEGIC TRUST 0.12% 127,514 NS May 31, 2026 N-PORT
EGLE · Global X Funds 0.12% 4 NS April 30, 2026 N-PORT
VUSB · VANGUARD BOND INDEX FUNDS 0.12% 10,442,000 PA Aug. 8, 2026 Daily
VOOV · VANGUARD ADMIRAL FUNDS 0.12% 13,826 SH Aug. 8, 2026 Daily
BSCU · Invesco Exchange-Traded Self-Indexe… 0.12% 3,437,000 Aug. 8, 2026 Daily
IQSU · New York Life Investments ETF Trust 0.12% 592 NS April 30, 2026 N-PORT
PFM · Invesco Exchange-Traded Fund Trust 0.12% 1,709 SH Aug. 8, 2026 Daily