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VMC
Vulcan Materials Company · Materials
$302.84
+16.72% this month
VERSUS
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COMPARE
MLM
Martin Marietta Materials, Inc. · Materials
$609.12
+14.36% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
VMC
2
MLM
3
Comparison scoreboard
MLM LEADS 3/5AI Score
VMC 50.1
MLM ✓51.0
1Y Return
VMC ✓+16.91%
MLM +12.51%
Fwd P/E
VMC 26.53
MLM ✓25.20
Target Up.
VMC +14.05%
MLM ✓+18.32%
Op. Margin
VMC ✓15.55%
MLM 12.70%
Metrics last refreshed: 6/20/2026
Quick take
VMC vs MLM Stock Comparison: AI Score, Valuation, Performance and Upside
Vulcan Materials and Martin Marietta Materials are the two largest US aggregates producers — the only two companies of national scale in construction aggregates. Both benefit from local geographic monopolies around their quarry locations, consistent pricing power exceeding inflation, and IIJA infrastructure spending tailwinds. Vulcan is slightly larger with broader geographic coverage; Martin Marietta has stronger Texas exposure and some cement integration. Both are exceptional long-term infrastructure materials compounders.
VMC vs MLM is the largest US aggregates producer with national quarry network and pricing power (Vulcan Materials) versus the second-largest aggregates company with Texas construction market strength and downstream cement integration (Martin Marietta) — near-identical aggregates duopoly businesses compounding through infrastructure spending with local geographic monopoly protection.
Live analysis · updated 6/20/2026
MLM holds the edge across 3 of 5 key metrics in this comparison. VMC has delivered stronger 1-year price return (+16.91% vs +12.51%), though MLM trades at the lower forward P/E (25.20x vs 26.53x). On fundamentals, MLM is growing revenue faster (17.20%), while VMC maintains the higher operating margin (15.55%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for MLM (+18.32%) than for VMC (+14.05%).
Normalized 1Y performance
VMC
MLM
Recent returns
VMC
MLM
Analyst price targets & sentiment
VMC · 24 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.8/5.0)
Price target range
analyst low$188.00
analyst mean$326.73
current price$302.84
+14.1% upside to analyst mean
MLM
Price target range
analyst mean$683.09
current price$609.12
+18.3% upside to analyst mean
Who should consider this stock?
VMC may suit investors who:
- →prefer the largest US aggregates producer with the most extensive national quarry network and aggregates-pure-play exposure
- →value Vulcan's consistent aggregates pricing power that has compounded 6–8% annually for decades — one of the best infrastructure materials pricing track records
- →want IIJA infrastructure spending beneficiary with maximum aggregates exposure across diverse geographies reducing single-market concentration
- →are comfortable with construction cycle sensitivity, energy cost input volatility, and environmental permitting constraints on new quarry capacity
MLM may suit investors who:
- →prefer slightly more downstream cement integration alongside core aggregates — Martin Marietta's cement business adds construction materials exposure beyond raw quarry aggregates
- →value MLM's Texas market concentration as a structural tailwind from Texas's above-average population and construction activity growth
- →want the second-largest aggregates compounder with essentially the same quarry monopoly economics as Vulcan at potentially similar valuation
- →are comfortable with Texas concentration risk, cement operational complexity vs pure aggregates, and slightly smaller national network than Vulcan
Performance & AI score
| Metric | VMC | MLM |
|---|---|---|
| AI score | 50.1 | 51.0 |
| AI rank | #466 | #399 |
| Latest close | $302.84 | $609.12 |
| 1M return | +16.72% | +14.36% |
| 6M return | +6.11% | -1.60% |
| 1Y return | +16.91% | +12.51% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | VMC | MLM |
|---|---|---|
| 1Y ago | $11.73K (+17.3%) started 2025-06-18 | $11.31K (+13.1%) started 2025-06-18 |
| 5Y ago | $19.07K (+90.7%) started 2021-06-21 | $18.68K (+86.8%) started 2021-06-21 |
| 10Y ago | $30.75K (+207.5%) started 2016-06-20 | $37.94K (+279.4%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | VMC | MLM |
|---|---|---|
| Market cap | $37.17B | $34.67B |
| Trailing P/E | 33.90 | 36.24 |
| Forward P/E | 26.53 | 25.20 |
| Price/Sales | 4.66 | N/A |
| EV/Revenue | 5.24 | 6.31 |
| Analyst target | $326.73 | $683.09 |
| Target upside | +14.05% | +18.32% |
Growth, profitability & risk
| Metric | VMC | MLM |
|---|---|---|
| Revenue growth | 7.40% | 17.20% |
| Earnings growth | 29.70% | 1220.80% |
| EPS growth | +29.70% | +1220.80% |
| FCF margin | +3.03% | +13.26% |
| Operating margin | 15.55% | 12.70% |
| Profit margin | 13.81% | 39.91% |
| ROIC proxy | 13.46% | 9.47% |
| Return on equity | 13.46% | 9.47% |
| Dividend yield | 0.73% | 0.58% |
| Beta | 1.06 | 1.10 |
| Debt/equity | 61.25 | 50.35 |
| Current ratio | 2.59 | 2.28 |
| Quick ratio | 1.11 | 1.02 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
VMC max drawdown22.20%
MLM max drawdown24.78%
VMC max wkly drop11.29%
MLM max wkly drop9.84%
5Y risk snapshot
VMC max drawdown32.50%
MLM max drawdown32.75%
VMC max wkly drop14.74%
MLM max wkly drop14.83%
10Y risk snapshot
VMC max drawdown49.23%
MLM max drawdown48.34%
VMC max wkly drop34.86%
MLM max wkly drop27.45%
Performance metrics by period
| Period | Metric | VMC | MLM |
|---|---|---|---|
| 1Y | Growth | +17.32% | +13.05% |
| CAGR | +17.34% | +13.07% | |
| Sharpe ratio | 0.57 | 0.43 | |
| Max drawdown | 22.20% | 24.78% | |
| Max daily drop | 7.76% | 6.56% | |
| Max wkly drop | 11.29% | 9.84% | |
| 5Y | Growth | +84.88% | +82.29% |
| CAGR | +13.10% | +12.78% | |
| Sharpe ratio | 0.43 | 0.42 | |
| Max drawdown | 32.50% | 32.75% | |
| Max daily drop | 7.76% | 6.56% | |
| Max wkly drop | 14.74% | 14.83% | |
| 10Y | Growth | +183.85% | +253.82% |
| CAGR | +11.00% | +13.48% | |
| Sharpe ratio | 0.35 | 0.42 | |
| Max drawdown | 49.23% | 48.34% | |
| Max daily drop | 17.61% | 13.55% | |
| Max wkly drop | 34.86% | 27.45% |
Business comparison
| Category | VMC | MLM |
|---|---|---|
| Company | Vulcan Materials Company | Martin Marietta Materials, Inc. |
| Sector | Basic Materials | Basic Materials |
| Industry | Building Materials | N/A |
| Core business | Vulcan Materials is the largest US producer of construction aggregates — crushed stone, sand, gravel, and other materials essential for construction, roads, and infrastructure. Aggregates are extremely heavy and low-value relative to shipping cost, creating natural local monopolies around each quarry location. Vulcan cannot be disrupted by imports or digital alternatives — it mines rock within 50 miles of construction sites. The IIJA (Infrastructure Investment and Jobs Act) is a multi-year demand driver for Vulcan's road base and concrete aggregate products. | Martin Marietta is the second-largest US aggregates producer, competing directly with Vulcan Materials for North America's largest quarry operators title. Martin Marietta's product line includes aggregates plus cement and ready-mix concrete in certain markets — a more vertically integrated downstream position than Vulcan's primarily aggregates focus. MLM's Texas presence is particularly significant — Texas is the largest US construction market with strong infrastructure and housing demand. |
| Investor focus | Investors track aggregates pricing (Vulcan's most controllable metric — prices up 10–15%+ annually for years), volume shipments, and IIJA infrastructure spending flow-through to aggregate demand. | Investors track aggregates pricing, volume, cement pricing and margin, and the Magnesia Specialties chemical business as a higher-margin non-aggregates revenue stream. |
VMC strengths
- →Natural geographic monopolies around each quarry — aggregates too heavy to ship long distances, meaning customers buy from the closest quarry regardless of price
- →Pricing power that consistently beats inflation — aggregates prices have compounded 6–8%+ annually for decades, providing real pricing power
- →IIJA federal infrastructure spending adds incremental demand beyond normal construction cycles — a multi-year demand tailwind for aggregates companies
MLM strengths
- →Second-largest US aggregates producer with irreplaceable quarry locations and equivalent local monopoly characteristics to Vulcan
- →Texas market concentration provides above-average exposure to Texas construction demand, one of the strongest US construction markets
- →Cement and downstream concrete integration in some markets provides product mix diversification and additional construction materials revenue beyond raw aggregates
Risks to watch — VMC
- →Aggregates demand is sensitive to residential and non-residential construction cycles — economic slowdowns reduce construction starts and aggregate demand
- →Energy/fuel cost is a major input cost — diesel for trucks and mining equipment rises and falls with energy prices
- →Environmental permitting for new quarry locations is increasingly difficult — a long-term constraint on adding supply (good for pricing, challenging for capacity expansion)
Risks to watch — MLM
- →Smaller scale than Vulcan — MLM's quarry network and geographic coverage is slightly less extensive
- →Cement operations add operational complexity and cyclical exposure beyond aggregates business simplicity
- →Construction cycle sensitivity — same headwinds as Vulcan but slightly more concentrated in Texas residential and commercial construction
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