Martin Marietta Materials (MLM) FY2020 results: revenue $4.7 billion, down 0.2% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $4.7 billion for fiscal 2020, the year ended 31 December 2020, down 0.2% on the year before. Net income was $721 million, up 17.8%, and diluted earnings per share $11.54. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$4.7 billion
-0.2% on the year
FY2013FY2020
Operating margin
21.3%
18.7% a year earlier
FY2013FY2020
Net income
$721 million
+17.8% on the year
FY2013FY2020
Diluted EPS
$11.54
+18.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,730
4,739
4,244
-0.2%
Cost of revenue
3,477
3,560
3,278
-2.3%
Gross profit
1,253
1,179
967
+6.3%
Gross margin
26.5%
24.9%
22.8%
Selling, general and administrative
306
303
281
+1.1%
Operating income
1,005
885
691
+13.6%
Operating margin
21.3%
18.7%
16.3%
Interest expense
118
129
137
-8.7%
Pre-tax income
889
748
576
+18.8%
Income tax
168
136
106
+23.4%
Effective tax rate
18.9%
18.2%
18.3%
Net income
721
612
470
+17.8%
Net margin
15.2%
12.9%
11.1%
Diluted EPS
$11.54
$9.74
$7.43
+18.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,050
966
705
+8.7%
Capital expenditure
360
394
376
-8.6%
Free cash flow
690
573
329
+20.6%
Free cash flow margin
14.6%
12.1%
7.8%
Cash from investing
-410
-386
-1,948
Cash from financing
-357
-604
-158
Depreciation and amortisation
394
372
344
+5.9%
Share-based compensation
30.0
34.1
29.3
-12.0%
Buybacks
50.0
98.2
100
-49.1%
Dividends paid
140
130
116
+8.1%
Dividend per share
$2.24
$2.06
$1.84
+8.7%
Diluted shares, weighted
62m
63m
63m
-0.5%
Shares outstanding at period end
62m
62m
63m
-0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,891
5,351
4,946
+10.1%
Non-controlling interest
2.6
2.5
3.0
+4.0%
Debt
2,626
2,774
3,120
-5.3%
Operating lease liabilities
410
434
n/a
-5.4%
Finance lease liabilities
21.2
5.9
7.6
+259.3%
Other liabilities
1,630
1,565
1,474
+4.2%
Total liabilities and equity
10,581
10,132
9,551
+4.4%
Fixed assets
5,242
5,206
5,157
+0.7%
Goodwill
2,414
2,397
2,399
+0.7%
Intangible assets
472
458
472
+2.9%
Cash and equivalents
207
21.0
44.9
+887.1%
Receivables
575
574
523
+0.2%
Inventory
709
691
663
+2.6%
Other assets
961
785
292
+22.5%
Total assets
10,581
10,132
9,551
+4.4%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.