Martin Marietta Materials (MLM) FY2014 results: revenue $3.0 billion, up 37.2% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $3.0 billion for fiscal 2014, the year ended 31 December 2014, up 37.2% on the year before. Net income was $156 million, up 28.2%, and diluted earnings per share $2.71. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$3.0 billion
+37.2% on the year
FY2008FY2014
Operating margin
11.1%
10.1% a year earlier
FY2008FY2014
Net income
$156 million
+28.2% on the year
FY2008FY2014
Diluted EPS
$2.71
+3.8% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
2,958
2,156
2,032
+37.2%
Cost of revenue
2,436
1,792
1,705
+35.9%
Gross profit
520
364
327
+42.8%
Gross margin
17.6%
16.9%
16.1%
Selling, general and administrative
168
150
138
+12.0%
Operating income
327
218
156
+50.0%
Operating margin
11.1%
10.1%
7.7%
Interest expense
66.1
53.5
53.3
+23.5%
Pre-tax income
249
164
104
+51.7%
Income tax
94.8
44.0
17.4
+115.3%
Effective tax rate
38.1%
26.8%
16.7%
Net income
156
121
84.5
+28.2%
Net margin
5.3%
5.6%
4.2%
Diluted EPS
$2.71
$2.61
$1.83
+3.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
386
309
223
+24.9%
Capital expenditure
232
155
151
+49.6%
Free cash flow
154
154
71.7
-0.0%
Free cash flow margin
5.2%
7.1%
3.5%
Cash from investing
-49.3
-215
-143
Cash from financing
-270
-77.4
-80.1
Depreciation and amortisation
223
174
177
+28.2%
Share-based compensation
9.0
7.0
7.8
+28.3%
Dividends paid
91.3
74.2
73.8
+23.1%
Dividend per share
$1.60
$1.60
$1.60
0.0%
Diluted shares, weighted
57m
46m
46m
+23.3%
Shares outstanding at period end
67m
46m
46m
+45.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,351
1,538
1,411
+182.9%
Non-controlling interest
1.6
37.0
39.8
-95.7%
Debt
1,585
1,031
1,048
+53.8%
Other liabilities
1,282
579
663
+121.3%
Total liabilities and equity
7,220
3,185
3,161
+126.7%
Fixed assets
3,403
1,799
1,753
+89.1%
Goodwill
2,069
617
616
+235.5%
Intangible assets
542
48.6
50.4
+1,015.9%
Investments
n/a
9.8
n/a
Cash and equivalents
109
42.4
25.4
+156.0%
Receivables
421
245
224
+71.5%
Inventory
485
347
332
+39.6%
Other assets
186
75.6
159
+146.2%
Total assets
7,215
3,185
3,161
+126.5%
10-K for the year ended 31 December 2014, filed 24 February 2015: the filing.