Martin Marietta Materials (MLM) FY2018 results: revenue $4.2 billion, up 7.0% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $4.2 billion for fiscal 2018, the year ended 31 December 2018, up 7.0% on the year before. Net income was $470 million, down 34.1%, and diluted earnings per share $7.43. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$4.2 billion
+7.0% on the year
FY2011FY2018
Operating margin
16.3%
17.7% a year earlier
FY2011FY2018
Net income
$470 million
-34.1% on the year
FY2011FY2018
Diluted EPS
$7.43
-34.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,244
3,966
3,819
+7.0%
Cost of revenue
3,278
2,994
2,910
+9.5%
Gross profit
967
972
912
-0.6%
Gross margin
22.8%
24.5%
23.9%
Selling, general and administrative
281
262
242
+7.0%
Operating income
691
700
677
-1.4%
Operating margin
16.3%
17.7%
17.7%
Interest expense
137
91.5
81.7
+49.8%
Pre-tax income
576
619
607
-6.9%
Income tax
106
-94.5
182
Effective tax rate
18.3%
-15.3%
29.9%
Net income
470
713
425
-34.1%
Net margin
11.1%
18.0%
11.1%
Diluted EPS
$7.43
$11.25
$6.63
-34.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
705
658
689
+7.2%
Capital expenditure
376
410
387
-8.4%
Free cash flow
329
248
302
+33.0%
Free cash flow margin
7.8%
6.2%
7.9%
Cash from investing
-1,948
-386
-555
Cash from financing
-158
1,125
-252
Depreciation and amortisation
344
297
285
+15.8%
Share-based compensation
29.3
30.5
20.5
-4.0%
Buybacks
100
100.0
259
+0.4%
Dividends paid
116
109
105
+7.0%
Dividend per share
$1.84
$1.72
$1.64
+7.0%
Diluted shares, weighted
63m
63m
64m
-0.1%
Shares outstanding at period end
63m
63m
63m
-0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,946
4,680
4,140
+5.7%
Non-controlling interest
3.0
2.9
2.6
+4.3%
Debt
3,120
3,027
1,686
+3.1%
Finance lease liabilities
7.6
n/a
n/a
Other liabilities
1,474
1,283
1,472
+14.9%
Total liabilities and equity
9,551
8,993
7,301
+6.2%
Fixed assets
5,157
3,593
3,423
+43.5%
Goodwill
2,399
2,160
2,159
+11.1%
Intangible assets
472
472
483
-0.2%
Cash and equivalents
44.9
1,446
50.0
-96.9%
Receivables
523
487
n/a
+7.4%
Inventory
663
601
522
+10.4%
Other assets
292
233
664
+25.6%
Total assets
9,551
8,993
7,301
+6.2%
10-K for the year ended 31 December 2018, filed 25 February 2019: the filing.