MLM Martin Marietta Materials, Inc. Common Stock
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 ↗
MLM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| 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
- 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 · 2026-08-16Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $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 | $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 | $1.89B | $1.64B | $1.75B | $1.42B | $1.35B | $1.25B | $1.18B | $967M | $972M | $912M | $727M | $522M | |
| SG&A Expense | $443M | $429M | $425M | $397M | $351M | $306M | $303M | $281M | $262M | $242M | $211M | $169M | |
| Operating Income | $1.44B | $2.48B | $1.33B | $1.21B | $974M | $1.01B | $885M | $691M | $700M | $677M | $494M | $315M | |
| Interest Expense | $230M | $169M | $165M | $169M | $143M | $118M | $129M | $137M | $92M | $82M | $76M | $66M | |
| Other Non-op | $19M | $56M | $58M | $53M | $24M | $2M | $-7M | $22M | $10M | $11M | $-4M | $362.0K | |
| Pretax Income | $1.23B | $2.37B | $1.23B | $1.09B | $856M | $889M | $748M | $576M | $619M | $607M | $414M | $249M | |
| Income Tax | $236M | $550M | $234M | $235M | $153M | $168M | $136M | $106M | $-94M | $182M | $125M | $95M | |
| Net Income | $1.14B | $2.00B | $1.17B | $867M | $702M | $721M | $612M | $470M | $713M | $425M | $289M | $156M | |
| EPS (Basic) | $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) | $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) | 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) | 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 | $2.07B | $3.28B | $2.11B | $1.71B | $1.43B | $1.40B | $1.26B | · | $998M | $953M | $743M | $538M |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $67M | $670M | $1.27B | $358M | $258M | $207M | $21M | $45M | $1.45B | $50M | $168M | $109M | |
| Receivables | $723M | $678M | $753M | $786M | $774M | $575M | $574M | $523M | $487M | · | $411M | $421M | |
| Inventory | $1.08B | $1.02B | $989M | $874M | $753M | $709M | $691M | $663M | $601M | $522M | $469M | $485M | |
| Other Current Assets | $95M | $68M | $88M | $81M | $138M | $70M | $141M | $135M | $97M | $57M | $33M | $30M | |
| Current Assets | $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) | $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) | $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 | $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 | $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 | $8M | $62M | $664M | $812M | $1.03B | $472M | $458M | $472M | $472M | $483M | $482M | $542M | |
| Other Non-current Assets | $788M | $646M | $561M | $547M | $426M | $295M | $133M | $128M | $102M | $120M | $141M | $109M | |
| Total Assets | $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 | $389M | $375M | $343M | $385M | $356M | $208M | $230M | $211M | $184M | $179M | $165M | $202M | |
| Current Liabilities | $895M | $1.00B | $1.17B | $1.45B | $753M | $499M | $838M | $787M | $694M | $547M | $367M | $397M | |
| Capital Leases | $320M | $327M | $327M | $336M | $379M | $410M | $434M | $8M | $10M | $13M | $12M | $18M | |
| Deferred Tax | $1.27B | $1.17B | $874M | $914M | $895M | $782M | $733M | $706M | $411M | $663M | $583M | $490M | |
| Other Non-current Liabilities | $903M | $928M | $389M | $385M | $674M | $370M | $339M | $379M | $234M | $194M | $173M | $160M | |
| Total Liabilities | $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 | $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 | $5.32B | $5.41B | $4.35B | $5.04B | $5.10B | $2.63B | $2.77B | · | $3.03B | $1.69B | $1.57B | $1.59B | |
| Common Stock | $1M | $1M | $1M | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $628.0K | $630.0K | $643.0K | $671.0K | |
| Retained Earnings | $6.40B | $5.92B | $4.56B | $3.72B | $3.16B | $2.61B | $2.08B | $1.69B | $1.44B | $936M | $874M | $1.21B | |
| AOCI | $60M | $-13M | $-49M | $-38M | $-98M | $-158M | $-146M | $-144M | $-129M | $-131M | $-106M | $-106M | |
| Stockholders' Equity | $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 | $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 | 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $637M | $573M | $513M | $506M | $452M | $394M | $372M | $344M | $297M | $285M | $264M | $223M | |
| Stock-based Comp | $46M | $58M | $50M | $43M | $43M | $30M | $34M | $29M | $30M | $20M | $14M | $9M | |
| Deferred Tax | $69M | $-45M | $-36M | $-1M | $92M | $44M | $29M | $85M | $-239M | $67M | $85M | $50M | |
| Amort. of Intangibles | $26M | $23M | $22M | $27M | $24M | $13M | $13M | $14M | $14M | $14M | $14M | $9M | |
| Other Non-cash | $-104M | $-1.12B | $-168M | $-424M | $-152M | $-138M | $-81M | · | $-144M | $-120M | $-78M | $-56M | |
| Operating Cash Flow | $1.78B | $1.46B | $1.53B | $991M | $1.14B | $1.05B | $966M | $705M | $658M | $689M | $581M | $382M | |
| CapEx | $807M | $855M | $650M | $482M | $423M | $360M | $394M | $376M | $410M | $387M | $318M | $232M | |
| Investing Cash Flow | $-1.59B | $-2.44B | $459M | $-484M | $-3.47B | $-410M | $-386M | $-1.95B | $-386M | $-555M | $89M | $-49M | |
| Debt Issued | · | $2.76B | $0 | $0 | $2.90B | $628M | $625M | $1.00B | $2.41B | $560M | $230M | $869M | |
| Net Debt Issued | $-735M | $1.07B | $-700M | $-54M | $2.48B | $-149M | $-350M | · | $1.34B | $111M | $-15M | $-189M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | $21M | $37M | $40M | |
| Stock Repurchased | $450M | $450M | $150M | $150M | $0 | $50M | $98M | $100M | $100M | $259M | $520M | · | |
| Net Stock Activity | $-450M | $-450M | $-150M | $-150M | · | $-50M | $-98M | · | $-100M | $-238M | $-483M | $40M | |
| Dividends Paid | $197M | $189M | $174M | $160M | $148M | $140M | $130M | $116M | $109M | $105M | $107M | $91M | |
| Financing Cash Flow | $-800M | $373M | $-1.06B | $-407M | $2.29B | $-357M | $-604M | $-158M | $1.12B | $-252M | $-609M | $-266M | |
| Net Change in Cash | $-603M | $-612M | $923M | $100M | $-46M | $283M | $-24M | $-1.40B | $1.40B | $-118M | $60M | $66M | |
| Taxes Paid | $192M | $382M | $292M | $201M | $103M | $115M | $102M | $29M | $156M | $124M | $47M | $16M | |
| Free Cash Flow | $978M | $604M | $878M | $509M | $715M | $690M | $573M | · | $248M | $291M | $255M | $149M | |
| Levered FCF | $792M | $474M | $745M | $377M | $597M | $595M | $467M | · | $142M | $234M | $202M | $109M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.7% | 28.7% | 29.8% | 23.1% | 24.9% | 26.5% | 24.9% | · | 24.5% | 23.8% | 20.4% | 17.7% | |
| Operating Margin | 23.4% | 41.4% | 23.5% | 19.6% | 18.0% | 21.3% | 18.7% | · | 17.7% | 17.5% | 13.5% | 10.6% | |
| Net Margin | 18.5% | 30.5% | 17.2% | 14.1% | 13.0% | 15.2% | 12.9% | · | 18.0% | 11.1% | 8.2% | 5.3% | |
| Pretax Margin | 19.9% | 39.7% | 22.0% | 17.7% | 15.8% | 18.8% | 15.8% | · | 15.6% | 15.9% | 11.7% | 8.4% | |
| EBITDA Margin | 33.7% | 50.2% | 31.1% | 27.8% | 26.3% | 29.6% | 26.5% | · | 25.1% | 24.9% | 21.0% | 18.2% | |
| ROA | 6.2% | 12.0% | 7.7% | 5.9% | 5.6% | 7.0% | 6.2% | · | 8.6% | 5.8% | 4.0% | 2.1% | |
| ROE | 11.7% | 22.8% | 15.4% | 12.7% | 11.3% | 12.8% | 11.9% | · | 15.8% | 10.3% | 7.0% | 3.6% | |
| ROIC | 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.6 | 2.5 | 3.3 | 2.0 | 2.7 | 3.3 | 1.7 | · | 3.8 | 2.0 | 2.9 | 3.2 | |
| Quick Ratio | 0.9 | 1.3 | 1.7 | 0.8 | 1.4 | 1.6 | 0.7 | · | 2.1 | 0.1 | 1.6 | 1.3 | |
| Debt / Equity | 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 | 0.5 | 0.6 | 0.5 | 0.6 | 0.8 | 0.4 | 0.5 | · | 0.6 | 0.4 | 0.4 | 0.4 | |
| Interest Coverage | 6.2 | 16.0 | 9.7 | 7.1 | 6.8 | 8.5 | 6.8 | · | 7.7 | 8.2 | 6.3 | 4.8 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | 0.4 | |
| Inventory Turnover | 4.1 | 4.2 | 5.1 | 5.8 | 5.6 | 5.0 | 5.3 | · | 5.1 | 5.7 | 6.0 | 5.1 | |
| Receivables Turnover | 8.8 | 9.1 | 8.8 | 7.9 | 8.0 | 8.2 | 8.6 | · | · | · | 7.2 | 6.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.6% | -3.2% | -5.0% | 13.8% | 14.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -0.06% | 1.5% | 7.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 5.4% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -42.1% | 72.2% | 35.7% | 23.6% | -2.8% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 10.6% | 42.4% | 17.7% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 10.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -43.0% | 70.7% | 34.8% | 23.4% | -2.6% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 9.5% | 41.6% | 17.5% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 9.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 7.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $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 | $1.14B | $2.00B | $1.17B | $867M | $702M | $721M | $612M | $470M | $713M | $425M | $289M | $156M | |
| Market Cap | $37.55B | $31.57B | $30.84B | $20.99B | $27.49B | $17.69B | $17.45B | · | $13.90B | $14.00B | $8.81B | $7.42B | |
| Enterprise Value | $42.81B | $36.31B | $33.92B | $25.67B | $32.33B | $20.11B | $20.20B | · | $15.48B | $15.63B | $10.21B | $8.90B | |
| P/E | 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 | 6.1 | 5.6 | 5.3 | 3.4 | 5.1 | 3.7 | 3.7 | · | 3.5 | 3.7 | 2.5 | 2.5 | |
| P/B | 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 | 5.9 | 5.3 | 7.7 | 7.7 | 13.7 | 5.9 | · | · | · | · | · | · | |
| P / Cash Flow | 21.0 | 21.6 | 20.2 | 21.2 | 24.2 | 16.8 | 18.1 | · | 21.1 | 20.6 | 15.4 | 19.5 | |
| P / FCF | 38.4 | 52.3 | 35.1 | 41.2 | 38.5 | 25.6 | 30.5 | · | 56.1 | 48.0 | 34.5 | 49.7 | |
| EV / EBITDA | 20.6 | 11.1 | 16.1 | 15.0 | 22.7 | 14.4 | 16.1 | · | 15.5 | 16.4 | 13.7 | 16.6 | |
| EV / FCF | 43.8 | 60.1 | 38.6 | 50.4 | 45.2 | 29.1 | 35.3 | · | 62.5 | 53.6 | 40.1 | 59.5 | |
| EV / Revenue | 7.0 | 6.4 | 5.8 | 4.2 | 6.0 | 4.3 | 4.3 | · | 3.9 | 4.1 | 2.9 | 3.0 | |
| Dividend Yield | 0.52% | 0.60% | 0.56% | 0.76% | 0.54% | 0.79% | 0.74% | · | 0.78% | 0.75% | 1.2% | 1.2% | |
| Earnings Yield | 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 | 17.3% | 9.5% | 14.9% | 18.4% | 21.0% | 19.5% | 21.2% | · | 15.3% | 24.7% | 37.2% | 58.7% | |
| Annual Payout | $197M | $189M | $174M | $160M | $148M | $140M | $130M | $116M | $109M | $105M | $107M | $91M |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.95B | $1.36B | $1.53B | $1.85B | $1.61B | $1.16B | $1.41B | $1.64B | $1.55B | $1.06B | $682M | $1.99B | $1.82B | $1.35B | $1.48B | $1.81B | |
| Cost of Revenue | $1.45B | $1.05B | $741M | $1.24B | $1.11B | $847M | $671M | $1.13B | $1.25B | $979M | $476M | $1.32B | $1.26B | $1.05B | $1.12B | $1.32B | |
| Gross Profit | $495M | $310M | $468M | $611M | $496M | $315M | $424M | $513M | $449M | $250M | $206M | $676M | $560M | $303M | $354M | $488M | |
| SG&A Expense | $116M | $133M | $94M | $110M | $104M | $125M | $93M | $101M | $117M | $118M | $101M | $108M | $112M | $104M | $101M | $95M | |
| Operating Income | $372M | $162M | $280M | $505M | $413M | $179M | $254M | $406M | $398M | $1.42B | $107M | $567M | $463M | $196M | $263M | $406M | |
| Interest Expense | $59M | $56M | $58M | $59M | $57M | $56M | $51M | $38M | $40M | $40M | $40M | $41M | $42M | $42M | $43M | $43M | |
| Other Non-op | $7M | $11M | $-5M | $4M | $9M | $9M | $3M | $6M | $14M | $33M | $8M | $14M | $19M | $17M | $13M | $7M | |
| Pretax Income | $320M | $117M | $217M | $450M | $365M | $132M | $206M | $374M | $372M | $1.41B | $75M | $540M | $440M | $171M | $233M | $370M | |
| Income Tax | $64M | $38M | $32M | $89M | $73M | $28M | $27M | $77M | $78M | $368M | $-4M | $110M | $92M | $36M | $46M | $79M | |
| Net Income | $251M | $1.51B | $279M | $414M | $328M | $116M | $294M | $363M | $293M | $1.04B | $283M | $417M | $348M | $121M | $184M | $295M | |
| EPS (Basic) | $4.18 | $25.11 | $4.60 | $6.86 | $5.44 | $1.91 | $4.88 | $5.93 | $4.77 | $16.92 | $4.56 | $6.74 | $5.62 | $1.96 | $2.96 | $4.74 | |
| EPS (Diluted) | $4.17 | $25.06 | $4.59 | $6.85 | $5.43 | $1.90 | $4.87 | $5.91 | $4.76 | $16.87 | $4.54 | $6.72 | $5.61 | $1.95 | $2.94 | $4.73 | |
| Shares (Basic) | 60,100,000 | 60,300,000 | -121,000,000 | 60,300,000 | 60,300,000 | 60,900,000 | -123,000,000 | 61,100,000 | 61,500,000 | 61,800,000 | -123,900,000 | 61,800,000 | 61,900,000 | 62,100,000 | -124,800,000 | 62,300,000 | |
| Shares (Diluted) | 60,200,000 | 60,400,000 | -121,200,000 | 60,400,000 | 60,400,000 | 61,000,000 | -123,300,000 | 61,300,000 | 61,600,000 | 62,000,000 | -124,200,000 | 62,000,000 | 62,100,000 | 62,200,000 | -125,100,000 | 62,500,000 | |
| EBITDA | $372M | $329M | · | $505M | $458M | $348M | · | $489M | $398M | $1.55B | · | $567M | $463M | $320M | · | $406M |
Balance Sheet 26
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $112M | $273M | $67M | $57M | $225M | $101M | $670M | $52M | $109M | $2.65B | $1.27B | $648M | $422M | $229M | $358M | $136M | |
| Receivables | $1.02B | $780M | $723M | $984M | $904M | $733M | $678M | $916M | $909M | $703M | · | $1.05B | $979M | $797M | · | $1.01B | |
| Inventory | $1.17B | $1.21B | $1.08B | $1.03B | $1.16B | $1.17B | $1.02B | $1.09B | $1.10B | $1.08B | · | $993M | $955M | $949M | · | $823M | |
| Other Current Assets | $131M | $82M | $95M | $111M | $98M | $96M | $68M | $120M | $96M | $70M | · | $83M | $90M | $75M | · | $92M | |
| Current Assets | $2.45B | $2.36B | $3.19B | $3.42B | $2.39B | $2.10B | $2.45B | $2.32B | $2.23B | $4.52B | · | $2.82B | $3.19B | $2.81B | · | $2.85B | |
| PP&E (Net) | $13.10B | $12.64B | $10.29B | $10.06B | $10.13B | $10.10B | $9.66B | $8.71B | $8.61B | $6.60B | · | $6.35B | $6.31B | $6.28B | · | $6.15B | |
| PP&E (Gross) | $18.43B | $17.81B | · | $14.98B | $15.35B | $15.19B | · | $13.59B | $13.38B | $11.26B | · | $11.01B | $10.86B | $10.72B | · | $10.40B | |
| Accum. Depreciation | $5.33B | $5.17B | · | $4.92B | $5.23B | $5.09B | · | $4.87B | $4.77B | $4.66B | · | $4.66B | $4.55B | $4.44B | · | $4.25B | |
| Goodwill | $3.96B | $3.83B | $3.61B | $3.61B | $3.78B | $3.77B | $3.39B | $3.77B | $3.84B | $3.48B | $3.39B | $3.65B | $3.65B | $3.65B | $3.65B | $3.64B | |
| Intangibles | · | · | $8M | · | · | · | · | $29M | $29M | · | · | · | · | · | · | · | |
| Other Non-current Assets | $853M | $785M | $788M | $730M | $681M | $653M | $646M | $587M | $561M | $559M | · | $589M | $548M | $551M | · | $460M | |
| Total Assets | $21.30B | $20.50B | $18.71B | $18.65B | $18.07B | $17.72B | $18.17B | $16.47B | $16.33B | $16.24B | · | $14.92B | $15.25B | $14.89B | · | $14.73B | |
| Accounts Payable | $349M | $329M | $389M | $349M | $336M | $298M | $375M | $315M | $304M | $266M | · | $342M | $347M | $303M | · | $334M | |
| Current Liabilities | $1.74B | $1.03B | $895M | $1.15B | $1.02B | $935M | $1.00B | $993M | $1.20B | $1.43B | · | $1.14B | $1.44B | $1.33B | · | $1.42B | |
| Capital Leases | $324M | $329M | $320M | $320M | $331M | $334M | $327M | $337M | $341M | $344M | · | $330M | $337M | $337M | · | $348M | |
| Deferred Tax | $1.64B | $1.63B | $1.27B | $1.25B | $1.18B | $1.17B | $1.17B | $1.13B | $1.11B | $865M | · | $914M | $916M | $921M | · | $886M | |
| Other Non-current Liabilities | $962M | $916M | $903M | $567M | $541M | $537M | $928M | $484M | $502M | $390M | · | $385M | $767M | $764M | · | $774M | |
| Total Liabilities | $9.76B | $9.20B | $8.68B | $8.91B | $8.70B | $8.64B | $8.71B | $7.30B | $7.49B | $7.36B | · | $7.11B | $7.82B | $7.71B | · | $7.79B | |
| Long-term Debt | $5.95B | $5.29B | $5.32B | $5.52B | $5.42B | $5.41B | $5.41B | $4.04B | $4.35B | $4.35B | · | $4.34B | $5.04B | $5.04B | · | $5.04B | |
| Total Debt | $5.95B | $5.29B | · | $5.52B | $5.42B | $5.41B | · | $4.04B | $4.35B | $4.35B | · | $4.34B | $5.04B | $5.04B | · | $5.04B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $600.0K | $600.0K | $600.0K | · | $600.0K | |
| Retained Earnings | $7.86B | $7.66B | $6.40B | $6.17B | $5.81B | $5.53B | $5.92B | $5.67B | $5.36B | $5.41B | · | $4.33B | $3.96B | $3.72B | · | $3.58B | |
| AOCI | $94M | $53M | $60M | $-5M | $-9M | $-12M | $-13M | $-46M | $-48M | $-49M | · | $-35M | $-36M | $-37M | · | $-125M | |
| Stockholders' Equity | $11.55B | $11.29B | $10.03B | $9.73B | $9.36B | $9.08B | $9.45B | $9.17B | $8.84B | $8.88B | · | $7.80B | $7.42B | $7.17B | · | $6.94B | |
| Liabilities + Equity | $21.30B | $20.50B | $18.71B | $18.65B | $18.07B | $17.72B | $18.17B | $16.47B | $16.33B | $16.24B | · | $14.92B | $15.25B | $14.89B | · | $14.73B | |
| Shares Outstanding | 60,050,859 | 60,045,900 | 60,309,739 | 60,307,143 | 60,305,739 | 60,278,790 | 61,126,646 | 61,118,057 | 61,117,053 | 61,639,965 | 61,821,421 | 61,807,161 | 61,800,000 | 62,000,000 | 62,102,353 | 62,100,000 |
Cash Flow 17
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $204M | $167M | $157M | $159M | $167M | $154M | $149M | $152M | $142M | $130M | $128M | $132M | $129M | $124M | $126M | $124M | |
| Stock-based Comp | $10M | $31M | $4M | $5M | $6M | $31M | $10M | $15M | $18M | $15M | $11M | $11M | $14M | $14M | $9M | $10M | |
| Deferred Tax | $1M | $277M | $-6M | $66M | $6M | $3M | $34M | $11M | $5M | $-95M | $-34M | $-3M | $-5M | $6M | $0 | $32M | |
| Other Non-cash | · | $-1.76B | · | · | · | $-86M | · | · | · | $-923M | · | · | · | $-104M | · | · | |
| Operating Cash Flow | $112M | $227M | $629M | $551M | $387M | $218M | $686M | $600M | $1M | $172M | $555M | $454M | $358M | $161M | $430M | $274M | |
| CapEx | $128M | $186M | $205M | $190M | $179M | $233M | $233M | $283M | $139M | $200M | $186M | $171M | $119M | $174M | $173M | $88M | |
| Investing Cash Flow | $-861M | $293M | $-375M | $-761M | $-190M | $-262M | $-1.38B | $-298M | $-2.19B | $1.43B | $133M | $523M | $-45M | $-152M | $-160M | $-758M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Net Debt Issued | · | $-205M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | $0 | $200M | $0 | $0 | $0 | $450M | $0 | $0 | $300M | $150M | $0 | $0 | $75M | $75M | $0 | $100M | |
| Net Stock Activity | · | $-200M | · | · | · | $-450M | · | · | · | $-150M | · | · | · | $-75M | · | · | |
| Dividends Paid | $51M | $51M | $50M | $50M | $48M | $49M | $48M | $49M | $46M | $46M | $46M | $46M | $41M | $42M | $42M | $41M | |
| Financing Cash Flow | $596M | $-314M | $-257M | $44M | $-62M | $-525M | $1.31B | $-359M | $-351M | $-229M | $-54M | $-752M | $-122M | $-138M | $-48M | $-153M | |
| Net Change in Cash | $-153M | $206M | $-3M | $-166M | $135M | $-569M | $618M | $-57M | $-2.54B | $1.37B | $634M | $226M | $192M | $-129M | $223M | $-636M | |
| Taxes Paid | $296M | $0 | $30M | $130M | $31M | $1M | $-3M | $11M | $371M | $3M | $89M | $120M | $79M | $4M | $41M | $117M | |
| Free Cash Flow | · | $41M | · | · | · | $-15M | · | · | · | $-28M | · | · | · | $-13M | · | · | |
| Levered FCF | · | $3M | · | · | · | $-59M | · | · | · | $-58M | · | · | · | $-47M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.4% | 22.8% | · | 33.1% | 30.0% | 24.8% | · | 31.7% | 29.3% | 21.7% | · | 33.9% | 30.8% | 22.4% | · | 26.9% | |
| Operating Margin | 19.1% | 11.9% | · | 27.4% | 25.3% | 14.3% | · | 25.9% | 22.6% | 113.6% | · | 28.4% | 25.4% | 14.5% | · | 22.4% | |
| Net Margin | 12.9% | 111.1% | · | 22.4% | 18.1% | 8.6% | · | 19.2% | 16.7% | 83.5% | · | 20.9% | 19.1% | 9.0% | · | 16.3% | |
| Pretax Margin | 16.4% | 8.6% | · | 24.4% | 22.7% | 10.9% | · | 24.2% | 21.1% | 113.0% | · | 27.1% | 24.1% | 12.6% | · | 20.4% | |
| EBITDA Margin | 19.1% | 24.2% | · | 27.4% | 25.3% | 25.7% | · | 25.9% | 22.6% | 124.0% | · | 28.4% | 25.4% | 23.6% | · | 22.4% | |
| ROA | 1.3% | 7.9% | · | 2.4% | 1.9% | 0.68% | · | 2.3% | 1.9% | 6.7% | · | 2.8% | 2.3% | 0.83% | · | 2.1% | |
| ROE | 2.4% | 14.8% | · | 4.4% | 3.6% | 1.3% | · | 4.3% | 3.6% | 13.0% | · | 5.7% | 4.9% | 1.8% | · | 4.4% | |
| ROIC | 1.7% | 0.66% | · | 2.7% | 2.5% | 1.1% | · | 2.9% | 2.4% | 8.0% | · | 3.7% | 2.9% | 1.3% | · | 2.7% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.4 | 2.3 | · | 3.0 | 2.3 | 2.2 | · | 2.3 | 1.9 | 3.2 | · | 2.5 | 2.2 | 2.1 | · | 2.0 | |
| Quick Ratio | 0.7 | 1.0 | · | 0.9 | 1.1 | 0.9 | · | 1.0 | 0.9 | 2.3 | · | 1.5 | 1.0 | 0.8 | · | 0.8 | |
| Debt / Equity | 0.5 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 0.4 | 0.5 | 0.5 | · | 0.6 | 0.7 | 0.7 | · | 0.7 | |
| LT Debt / Equity | 0.4 | 0.5 | · | 0.5 | 0.6 | 0.6 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | 0.6 | 0.6 | · | 0.6 | |
| Interest Coverage | 6.3 | 2.9 | · | 8.6 | 8.0 | 3.5 | · | 12.9 | 9.9 | 35.5 | · | 13.9 | 11.0 | 4.6 | · | 9.5 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 1.2 | 0.9 | · | 1.2 | 1.1 | 0.9 | · | 1.2 | 1.2 | 1.0 | · | 1.5 | 1.4 | 1.2 | · | 1.7 | |
| Receivables Turnover | 2.0 | 1.8 | · | 1.9 | 2.0 | 1.9 | · | 1.9 | 1.9 | 1.7 | · | 1.9 | 1.8 | 1.7 | · | 2.0 |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.69B | $6.35B | · | $6.03B | $5.82B | $5.77B | · | $6.24B | $6.42B | $6.22B | · | $6.98B | $6.63B | $6.04B | · | $6.24B | |
| Net Income TTM | $2.46B | $2.53B | · | $1.15B | $1.10B | $1.07B | · | $2.12B | $2.10B | $1.93B | · | $1.18B | $1.13B | $804M | · | $938M | |
| Market Cap | $34.63B | $35.35B | · | $38.01B | $33.11B | $28.82B | · | $32.90B | $33.11B | $37.84B | · | $25.37B | $28.53B | $22.01B | · | $20.00B | |
| Enterprise Value | $40.47B | $40.37B | · | $43.48B | $38.30B | $34.13B | · | $36.89B | $37.35B | $39.54B | · | $29.07B | $33.15B | $26.83B | · | $24.90B | |
| P/E | 13.9 | 15.0 | · | 31.4 | 30.5 | 16.2 | · | 15.7 | 16.0 | 19.7 | · | 21.6 | 25.4 | 27.6 | · | 21.5 | |
| P/S | 5.2 | 5.6 | · | 6.3 | 5.7 | 5.0 | · | 5.3 | 5.2 | 6.1 | · | 3.6 | 4.3 | 3.6 | · | 3.2 | |
| P/B | 3.0 | 3.1 | · | 3.9 | 3.5 | 3.2 | · | 3.6 | 3.7 | 4.3 | · | 3.3 | 3.8 | 3.1 | · | 2.9 | |
| P / Tangible Book | 4.6 | 4.7 | · | 6.2 | 5.9 | 5.4 | · | 6.1 | 6.7 | 7.0 | · | 6.1 | 7.6 | 6.2 | · | 6.1 | |
| P / Cash Flow | · | 155.7 | · | · | · | 132.2 | · | · | · | 220.0 | · | · | · | 137.2 | · | · | |
| P / FCF | · | 862.1 | · | · | · | -1921.4 | · | · | · | -1351.5 | · | · | · | -1642.8 | · | · | |
| EV / EBITDA | 108.8 | 122.7 | · | 86.1 | 83.6 | 98.1 | · | 75.4 | 93.8 | 25.5 | · | 51.3 | 71.6 | 83.9 | · | 61.4 | |
| EV / FCF | · | 984.6 | · | · | · | -2275.6 | · | · | · | -1412.2 | · | · | · | -2001.9 | · | · | |
| EV / Revenue | 6.1 | 6.4 | · | 7.2 | 6.6 | 5.9 | · | 5.9 | 5.8 | 6.4 | · | 4.2 | 5.0 | 4.4 | · | 4.0 | |
| Earnings Yield | 7.2% | 6.7% | · | 3.2% | 3.3% | 6.2% | · | 6.4% | 6.3% | 5.1% | · | 4.6% | 3.9% | 3.6% | · | 4.7% | |
| Payout Ratio | · | 3.4% | · | · | · | 42.2% | · | · | · | 4.4% | · | · | · | 34.3% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| 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
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.5 | 0.6 | 0.5 | — | 0.7 |
| Current Ratio | 3.6 | 2.5 | 3.3 | — | 2.0 |
| Quick Ratio | 0.9 | 1.3 | 1.7 | — | 0.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| 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.
| 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 |