Martin Marietta Materials (MLM) FY2016 results: revenue $3.8 billion, up 7.9% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $3.8 billion for fiscal 2016, the year ended 31 December 2016, up 7.9% on the year before. Net income was $425 million, up 47.3%, and diluted earnings per share $6.63. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$3.8 billion
+7.9% on the year
FY2009FY2016
Operating margin
17.7%
14.0% a year earlier
FY2009FY2016
Net income
$425 million
+47.3% on the year
FY2009FY2016
Diluted EPS
$6.63
+54.5% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,819
3,540
2,958
+7.9%
Cost of revenue
2,910
2,818
2,436
+3.3%
Gross profit
912
727
520
+25.4%
Gross margin
23.9%
20.5%
17.6%
Selling, general and administrative
242
211
168
+14.6%
Operating income
677
494
327
+37.1%
Operating margin
17.7%
14.0%
11.1%
Interest expense
81.7
76.3
66.1
+7.1%
Pre-tax income
607
414
249
+46.7%
Income tax
182
125
94.8
+45.4%
Effective tax rate
29.9%
30.2%
38.1%
Net income
425
289
156
+47.3%
Net margin
11.1%
8.2%
5.3%
Diluted EPS
$6.63
$4.29
$2.71
+54.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
689
581
386
+18.7%
Capital expenditure
387
318
232
+21.7%
Free cash flow
302
262
154
+15.0%
Free cash flow margin
7.9%
7.4%
5.2%
Cash from investing
-555
88.5
-49.3
Cash from financing
-252
-609
-270
Depreciation and amortisation
285
264
223
+8.2%
Share-based compensation
20.5
13.6
9.0
+50.7%
Buybacks
259
520
n/a
-50.1%
Dividends paid
105
107
91.3
-2.3%
Dividend per share
$1.64
$1.60
$1.60
+2.5%
Diluted shares, weighted
64m
67m
57m
-4.7%
Shares outstanding at period end
63m
64m
67m
-2.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,140
4,057
4,351
+2.0%
Non-controlling interest
2.6
2.9
1.6
-9.7%
Debt
1,686
1,569
1,585
+7.5%
Other liabilities
1,472
1,333
1,282
+10.5%
Total liabilities and equity
7,301
6,962
7,220
+4.9%
Fixed assets
3,423
3,156
3,403
+8.5%
Goodwill
2,159
2,068
2,069
+4.4%
Intangible assets
483
482
542
+0.2%
Cash and equivalents
50.0
168
109
-70.3%
Receivables
n/a
411
421
Inventory
522
469
485
+11.2%
Other assets
664
207
186
+220.3%
Total assets
7,301
6,962
7,215
+4.9%
10-K for the year ended 31 December 2016, filed 25 February 2019: the filing.