Martin Marietta Materials (MLM) FY2017 results: revenue $4.0 billion, up 3.8% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $4.0 billion for fiscal 2017, the year ended 31 December 2017, up 3.8% on the year before. Net income was $713 million, up 67.7%, and diluted earnings per share $11.25. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$4.0 billion
+3.8% on the year
FY2010FY2017
Operating margin
17.7%
17.7% a year earlier
FY2010FY2017
Net income
$713 million
+67.7% on the year
FY2010FY2017
Diluted EPS
$11.25
+69.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,966
3,819
3,540
+3.8%
Cost of revenue
2,994
2,910
2,818
+2.9%
Gross profit
972
912
727
+6.6%
Gross margin
24.5%
23.9%
20.5%
Selling, general and administrative
262
242
211
+8.5%
Operating income
700
677
494
+3.4%
Operating margin
17.7%
17.7%
14.0%
Interest expense
91.5
81.7
76.3
+12.0%
Pre-tax income
619
607
414
+2.0%
Income tax
-94.5
182
125
Effective tax rate
-15.3%
29.9%
30.2%
Net income
713
425
289
+67.7%
Net margin
18.0%
11.1%
8.2%
Diluted EPS
$11.25
$6.63
$4.29
+69.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
658
689
581
-4.5%
Capital expenditure
410
387
318
+6.0%
Free cash flow
248
302
262
-17.9%
Free cash flow margin
6.2%
7.9%
7.4%
Cash from investing
-386
-555
88.5
Cash from financing
1,125
-252
-609
Depreciation and amortisation
297
285
264
+4.2%
Share-based compensation
30.5
20.5
13.6
+48.7%
Buybacks
100.0
259
520
-61.4%
Dividends paid
109
105
107
+3.6%
Dividend per share
$1.72
$1.64
$1.60
+4.9%
Diluted shares, weighted
63m
64m
67m
-1.0%
Shares outstanding at period end
63m
63m
64m
-0.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,680
4,140
4,057
+13.0%
Non-controlling interest
2.9
2.6
2.9
+10.1%
Debt
3,027
1,686
1,569
+79.5%
Other liabilities
1,283
1,472
1,333
-12.9%
Total liabilities and equity
8,993
7,301
6,962
+23.2%
Fixed assets
3,593
3,423
3,156
+4.9%
Goodwill
2,160
2,159
2,068
+0.0%
Intangible assets
472
483
482
-2.1%
Cash and equivalents
1,446
50.0
168
+2,790.5%
Receivables
487
n/a
411
Inventory
601
522
469
+15.1%
Other assets
233
664
207
-64.9%
Total assets
8,993
7,301
6,962
+23.2%
10-K for the year ended 31 December 2017, filed 25 February 2019: the filing.