Martin Marietta Materials (MLM) FY2015 results: revenue $3.5 billion, up 19.7% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $3.5 billion for fiscal 2015, the year ended 31 December 2015, up 19.7% on the year before. Net income was $289 million, up 85.6%, and diluted earnings per share $4.29. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2016.
Revenue
$3.5 billion
+19.7% on the year
FY2008FY2015
Operating margin
14.0%
11.1% a year earlier
FY2008FY2015
Net income
$289 million
+85.6% on the year
FY2008FY2015
Diluted EPS
$4.29
+58.3% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,540
2,958
2,156
+19.7%
Cost of revenue
2,818
2,436
1,792
+15.7%
Gross profit
727
520
364
+39.9%
Gross margin
20.5%
17.6%
16.9%
Selling, general and administrative
211
168
150
+25.4%
Operating income
494
327
218
+51.2%
Operating margin
14.0%
11.1%
10.1%
Interest expense
76.3
66.1
53.5
+15.5%
Pre-tax income
414
249
164
+66.1%
Income tax
125
94.8
44.0
+31.6%
Effective tax rate
30.2%
38.1%
26.8%
Net income
289
156
121
+85.6%
Net margin
8.2%
5.3%
5.6%
Diluted EPS
$4.29
$2.71
$2.61
+58.3%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
581
386
309
+50.5%
Capital expenditure
318
232
155
+37.1%
Free cash flow
262
154
154
+70.7%
Free cash flow margin
7.4%
5.2%
7.1%
Cash from investing
88.5
-49.3
-215
Cash from financing
-609
-270
-77.4
Depreciation and amortisation
264
223
174
+18.3%
Share-based compensation
13.6
9.0
7.0
+51.1%
Buybacks
520
n/a
n/a
Dividends paid
107
91.3
74.2
+17.7%
Dividend per share
$1.60
$1.60
$1.60
0.0%
Diluted shares, weighted
67m
57m
46m
+17.4%
Shares outstanding at period end
64m
67m
46m
-4.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,057
4,351
1,538
-6.8%
Non-controlling interest
2.9
1.6
37.0
+82.9%
Debt
1,569
1,585
1,031
-1.0%
Other liabilities
1,333
1,282
579
+4.0%
Total liabilities and equity
6,962
7,220
3,185
-3.6%
Fixed assets
3,156
3,403
1,799
-7.3%
Goodwill
2,068
2,069
617
-0.0%
Intangible assets
482
542
48.6
-11.1%
Investments
n/a
n/a
9.8
Cash and equivalents
168
109
42.4
+55.0%
Receivables
411
421
245
-2.4%
Inventory
469
485
347
-3.3%
Other assets
207
186
75.6
+11.3%
Total assets
6,962
7,215
3,185
-3.5%
10-K for the year ended 31 December 2015, filed 23 February 2016: the filing.