Martin Marietta Materials (MLM) FY2023 results: revenue $5.9 billion, down 5.0% on the year
Martin Marietta Materials Inc. (MLM) reported revenue of $5.9 billion for fiscal 2023, the year ended 31 December 2023, down 5.0% on the year before. Net income was $1.2 billion, up 34.9%, and diluted earnings per share $18.82. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$5.9 billion
-5.0% on the year
FY2016FY2023
Operating margin
22.8%
19.6% a year earlier
FY2016FY2023
Net income
$1.2 billion
+34.9% on the year
FY2016FY2023
Diluted EPS
$18.82
+35.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,528
991
1,138
+54.2%
Capital expenditure
650
482
423
+35.0%
Free cash flow
878
509
715
+72.4%
Free cash flow margin
15.0%
8.3%
13.2%
Cash from investing
459
-484
-3,475
Cash from financing
-1,064
-408
2,291
Depreciation and amortisation
513
506
452
+1.4%
Share-based compensation
50.0
43.0
43.0
+16.3%
Buybacks
150
150
0.0
0.0%
Dividends paid
174
160
148
+8.8%
Dividend per share
$2.80
$2.54
$2.36
+10.2%
Diluted shares, weighted
62m
62m
63m
-0.6%
Shares outstanding at period end
62m
62m
62m
-0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
8,033
7,170
6,535
+12.0%
Non-controlling interest
2.0
2.3
2.3
-13.0%
Debt
4,345
5,040
5,101
-13.8%
Operating lease liabilities
327
336
379
-2.7%
Finance lease liabilities
180
182
191
-1.2%
Other liabilities
2,238
2,263
2,184
-1.1%
Total liabilities and equity
15,125
14,994
14,393
+0.9%
Fixed assets
6,186
6,317
6,338
-2.1%
Goodwill
3,390
3,650
3,494
-7.1%
Intangible assets
664
812
1,029
-18.3%
Cash and equivalents
1,272
358
258
+255.3%
Receivables
753
786
774
-4.1%
Inventory
989
874
753
+13.2%
Other assets
1,872
2,198
1,747
-14.8%
Total assets
15,125
14,994
14,393
+0.9%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.