Martin Marietta Materials (MLM) FY2019 results: revenue $4.7 billion, up 11.7% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $4.7 billion for fiscal 2019, the year ended 31 December 2019, up 11.7% on the year before. Net income was $612 million, up 30.2%, and diluted earnings per share $9.74. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$4.7 billion
+11.7% on the year
FY2012FY2019
Operating margin
18.7%
16.3% a year earlier
FY2012FY2019
Net income
$612 million
+30.2% on the year
FY2012FY2019
Diluted EPS
$9.74
+31.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,739
4,244
3,966
+11.7%
Cost of revenue
3,560
3,278
2,994
+8.6%
Gross profit
1,179
967
972
+22.0%
Gross margin
24.9%
22.8%
24.5%
Selling, general and administrative
303
281
262
+7.9%
Operating income
885
691
700
+28.1%
Operating margin
18.7%
16.3%
17.7%
Interest expense
129
137
91.5
-5.7%
Pre-tax income
748
576
619
+29.9%
Income tax
136
106
-94.5
+28.9%
Effective tax rate
18.2%
18.3%
-15.3%
Net income
612
470
713
+30.2%
Net margin
12.9%
11.1%
18.0%
Diluted EPS
$9.74
$7.43
$11.25
+31.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
966
705
658
+37.0%
Capital expenditure
394
376
410
+4.7%
Free cash flow
573
329
248
+73.9%
Free cash flow margin
12.1%
7.8%
6.2%
Cash from investing
-386
-1,948
-386
Cash from financing
-604
-158
1,125
Depreciation and amortisation
372
344
297
+8.0%
Share-based compensation
34.1
29.3
30.5
+16.6%
Buybacks
98.2
100
100.0
-2.2%
Dividends paid
130
116
109
+11.5%
Dividend per share
$2.06
$1.84
$1.72
+12.0%
Diluted shares, weighted
63m
63m
63m
-0.7%
Shares outstanding at period end
62m
63m
63m
-0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,351
4,946
4,680
+8.2%
Non-controlling interest
2.5
3.0
2.9
-16.7%
Debt
2,774
3,120
3,027
-11.1%
Operating lease liabilities
434
n/a
n/a
Finance lease liabilities
5.9
7.6
n/a
-22.7%
Other liabilities
1,565
1,474
1,283
+6.2%
Total liabilities and equity
10,132
9,551
8,993
+6.1%
Fixed assets
5,206
5,157
3,593
+0.9%
Goodwill
2,397
2,399
2,160
-0.1%
Intangible assets
458
472
472
-2.8%
Cash and equivalents
21.0
44.9
1,446
-53.2%
Receivables
574
523
487
+9.6%
Inventory
691
663
601
+4.2%
Other assets
785
292
233
+168.5%
Total assets
10,132
9,551
8,993
+6.1%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.