Martin Marietta Materials (MLM) FY2011 results: revenue $1.7 billion, up 3.7% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $1.7 billion for fiscal 2011, the year ended 31 December 2011, up 3.7% on the year before. Net income was $82 million, down 15.1%, and diluted earnings per share $1.78. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2012.
Revenue
$1.7 billion
+3.7% on the year
FY2008FY2011
Operating margin
9.4%
12.0% a year earlier
FY2008FY2011
Net income
$82 million
-15.1% on the year
FY2008FY2011
Diluted EPS
$1.78
-15.2% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
1,714
1,653
1,573
+3.7%
Cost of revenue
1,412
1,331
1,242
+6.1%
Gross profit
302
322
332
-6.2%
Gross margin
17.6%
19.5%
21.1%
Research and development
n/a
0.2
0.4
Selling, general and administrative
124
130
136
-4.8%
Operating income
161
198
183
-18.8%
Operating margin
9.4%
12.0%
11.6%
Interest expense
58.6
68.5
73.5
-14.4%
Pre-tax income
101
130
111
-22.4%
Income tax
21.0
30.9
26.0
-32.1%
Effective tax rate
20.9%
23.8%
23.5%
Net income
82.4
97.0
85.5
-15.1%
Net margin
4.8%
5.9%
5.4%
Diluted EPS
$1.78
$2.10
$1.91
-15.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
259
270
318
-4.0%
Capital expenditure
155
136
139
+14.3%
Free cash flow
104
134
179
-22.5%
Free cash flow margin
6.1%
8.1%
11.4%
Cash from investing
-239
-174
-185
Cash from financing
-64.5
-289
92.5
Depreciation and amortisation
173
182
179
-4.5%
Share-based compensation
11.5
14.7
20.6
-21.5%
Dividends paid
73.6
73.5
71.2
+0.1%
Dividend per share
$1.60
$1.60
$1.60
0.0%
Diluted shares, weighted
46m
46m
44m
+0.3%
Shares outstanding at period end
46m
46m
45m
+0.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,409
1,425
1,365
-1.1%
Non-controlling interest
39.5
42.8
41.2
-7.7%
Debt
1,060
1,031
1,250
+2.8%
Other liabilities
639
576
583
+11.0%
Total liabilities and equity
3,148
3,075
3,239
+2.4%
Fixed assets
1,774
1,688
1,693
+5.1%
Goodwill
617
627
624
-1.6%
Intangible assets
54.1
17.5
12.5
+208.5%
Cash and equivalents
26.0
70.3
264
-63.0%
Receivables
204
183
163
+11.1%
Inventory
323
332
333
-2.8%
Other assets
150
157
151
-4.4%
Total assets
3,148
3,075
3,239
+2.4%
10-K for the year ended 31 December 2011, filed 29 February 2012: the filing.