vs
Side-by-side financial comparison of Martin Marietta Materials (MLM) and Wheaton Precious Metals Corp. (WPM), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Martin Marietta Materials is the larger business by last-quarter revenue ($1.1B vs $503.2M, roughly 2.3× Wheaton Precious Metals Corp.). Wheaton Precious Metals Corp. runs the higher net margin — 24.5% vs 58.1%, a 33.6% gap on every dollar of revenue.
Martin Marietta Materials, Inc. is an American company and a supplier of aggregates and heavy building materials, with operations spanning 26 states, Canada, and the Caribbean. In particular, Martin Marietta Materials supplies resources for the construction of roads, sidewalks, and foundations.
Wheaton Precious Metals Corp. is a Canadian multinational precious metals streaming company. It produces over 26 million ounces and sells over 29 million ounces of silver mined by other companies as a by-product of their main operations.
MLM vs WPM — Head-to-Head
Income Statement — Q4 2025 vs Q2 2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $503.2M |
| Net Profit | $279.0M | $292.3M |
| Gross Margin | 35.0% | 70.2% |
| Operating Margin | 24.6% | 65.5% |
| Net Margin | 24.5% | 58.1% |
| Revenue YoY | -30.1% | — |
| Net Profit YoY | -4.8% | — |
| EPS (diluted) | $4.59 | $0.64 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | $503.2M | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $279.0M | — | ||
| Q3 25 | $414.0M | — | ||
| Q2 25 | $328.0M | $292.3M | ||
| Q1 25 | $116.0M | — | ||
| Q4 24 | $293.0M | — | ||
| Q3 24 | $363.0M | — | ||
| Q2 24 | $294.0M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | 35.0% | — | ||
| Q3 25 | 33.1% | — | ||
| Q2 25 | 30.0% | 70.2% | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 30.0% | — | ||
| Q3 24 | 31.7% | — | ||
| Q2 24 | 29.3% | — | ||
| Q1 24 | 21.7% | — |
| Q4 25 | 24.6% | — | ||
| Q3 25 | 27.4% | — | ||
| Q2 25 | 25.3% | 65.5% | ||
| Q1 25 | 14.3% | — | ||
| Q4 24 | 24.4% | — | ||
| Q3 24 | 25.9% | — | ||
| Q2 24 | 22.6% | — | ||
| Q1 24 | — | — |
| Q4 25 | 24.5% | — | ||
| Q3 25 | 22.4% | — | ||
| Q2 25 | 18.1% | 58.1% | ||
| Q1 25 | 8.6% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | 19.2% | — | ||
| Q2 24 | 16.7% | — | ||
| Q1 24 | 83.5% | — |
| Q4 25 | $4.59 | — | ||
| Q3 25 | $6.85 | — | ||
| Q2 25 | $5.43 | $0.64 | ||
| Q1 25 | $1.90 | — | ||
| Q4 24 | $4.87 | — | ||
| Q3 24 | $5.91 | — | ||
| Q2 24 | $4.76 | — | ||
| Q1 24 | $16.87 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $67.0M | $1.0B |
| Total DebtLower is stronger | $5.3B | — |
| Stockholders' EquityBook value | $10.0B | $7.7B |
| Total Assets | $18.7B | $8.0B |
| Debt / EquityLower = less leverage | 0.53× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $67.0M | — | ||
| Q3 25 | $57.0M | — | ||
| Q2 25 | $225.0M | $1.0B | ||
| Q1 25 | $101.0M | — | ||
| Q4 24 | $670.0M | — | ||
| Q3 24 | $52.0M | — | ||
| Q2 24 | $109.0M | — | ||
| Q1 24 | $2.6B | — |
| Q4 25 | $5.3B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.4B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.3B | — |
| Q4 25 | $10.0B | — | ||
| Q3 25 | $9.7B | — | ||
| Q2 25 | $9.4B | $7.7B | ||
| Q1 25 | $9.1B | — | ||
| Q4 24 | $9.5B | — | ||
| Q3 24 | $9.2B | — | ||
| Q2 24 | $8.8B | — | ||
| Q1 24 | $8.9B | — |
| Q4 25 | $18.7B | — | ||
| Q3 25 | $18.7B | — | ||
| Q2 25 | $18.1B | $8.0B | ||
| Q1 25 | $17.7B | — | ||
| Q4 24 | $18.2B | — | ||
| Q3 24 | $16.5B | — | ||
| Q2 24 | $16.3B | — | ||
| Q1 24 | $16.2B | — |
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.57× | — | ||
| Q3 24 | 0.44× | — | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.49× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $629.0M | $415.0M |
| Free Cash FlowOCF − Capex | $424.0M | — |
| FCF MarginFCF / Revenue | 37.2% | — |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 18.0% | — |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 2.25× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $978.0M | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $629.0M | — | ||
| Q3 25 | $551.0M | — | ||
| Q2 25 | $387.0M | $415.0M | ||
| Q1 25 | $218.0M | — | ||
| Q4 24 | $686.0M | — | ||
| Q3 24 | $600.0M | — | ||
| Q2 24 | $1.0M | — | ||
| Q1 24 | $172.0M | — |
| Q4 25 | $424.0M | — | ||
| Q3 25 | $361.0M | — | ||
| Q2 25 | $208.0M | — | ||
| Q1 25 | $-15.0M | — | ||
| Q4 24 | $453.0M | — | ||
| Q3 24 | $317.0M | — | ||
| Q2 24 | $-138.0M | — | ||
| Q1 24 | $-28.0M | — |
| Q4 25 | 37.2% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | -1.1% | — | ||
| Q4 24 | 27.8% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | -7.8% | — | ||
| Q1 24 | -2.2% | — |
| Q4 25 | 18.0% | — | ||
| Q3 25 | 10.3% | — | ||
| Q2 25 | 9.9% | — | ||
| Q1 25 | 17.2% | — | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 15.0% | — | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 16.0% | — |
| Q4 25 | 2.25× | — | ||
| Q3 25 | 1.33× | — | ||
| Q2 25 | 1.18× | 1.42× | ||
| Q1 25 | 1.88× | — | ||
| Q4 24 | 2.34× | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.16× | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
WPM
Segment breakdown not available.
