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Held by 1,022 of 5,944 reporting institutions (99th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $494.44 today, the market must believe free cash flow compounds 18.1%/yr for a decade (off $820M normalized FCF).
The market's 18.1% is more optimistic than its 9-yr track record.
2-stage DCF · 0.06B shares · net debt $5.3B
mean 20.8% · volatility σ 42% · implied rate exceeded in 5/9 yrs
Central path = implied 18.1%/yr growth; shaded band = ±1σ (42%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 20% of free cash flow, leaving room to grow it and fund buybacks. Last year: $197M dividends + $450M buybacks = $647M returned on $978M FCF.
9 consecutive years of dividend increases · 8%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 7%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $67M covers the $30M due within a year 2.2× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.3% on $5.3B of debt.
Cash of $67M fully covers short-term debt of $30M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
No standout strengths flagged.
No material risks flagged.
Where each multiple sits in its own 14-yr range · 62th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 77.2 | 75.1 | 73.5 | 75.1 | 76.9 | 70.2 | 71.1 | 69.3 |
| Gross Profit | 22.8 | 24.9 | 26.5 | 24.9 | 23.1 | 29.8 | 28.9 | 30.7 |
| SG&A | 6.6 | 6.4 | 6.5 | 6.5 | 6.4 | 7.3 | 7.6 | 7.2 |
| Operating Income | 16.3 | 18.7 | 21.3 | 18.0 | 19.6 | 22.8 | 43.8 | 23.4 |
| Income Tax | 2.5 | 2.9 | 3.6 | 2.8 | 3.8 | 4.0 | 9.7 | 3.8 |
| Net Income | 11.1 | 12.9 | 15.2 | 13.0 | 14.1 | 20.0 | 35.2 | 18.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MLM: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.15B 100.0% | $5.66B 100.0% | $5.85B 100.0% | $6.16B 100.0% | $5.41B 100.0% | $4.73B 100.0% | $4.74B 100.0% | $4.24B 100.0% | $3.97B 100.0% | $3.82B 100.0% |
| Cost of Revenue | $4.26B 69.3% | $4.03B 71.1% | $4.11B 70.2% | $4.74B 76.9% | $4.07B 75.1% | $3.48B 73.5% | $3.56B 75.1% | $3.28B 77.2% | $2.99B 75.5% | $2.91B 76.1% |
| Cost of Products | — | — | — | — | — | — | — | — | $2.75B 69.3% | $2.67B 69.8% |
| Gross Profit | $1.89B 30.7% | $1.64B 28.9% | $1.75B 29.8% | $1.42B 23.1% | $1.35B 24.9% | $1.25B 26.5% | $1.18B 24.9% | $966.6M 22.8% | $971.9M 24.5% | $911.7M 23.9% |
| Selling, General & Admin | $443.0M 7.2% | $429.0M 7.6% | $425.0M 7.3% | $397.0M 6.4% | $351.0M 6.5% | $305.9M 6.5% | $302.7M 6.4% | $280.6M 6.6% | $262.1M 6.6% | $241.6M 6.3% |
| Operating Income | $1.44B 23.4% | $2.48B 43.8% | $1.33B 22.8% | $1.21B 19.6% | $973.8M 18.0% | $1.01B 21.3% | $884.9M 18.7% | $690.7M 16.3% | $700.4M 17.7% | $677.3M 17.7% |
| Interest Expense | $230.0M 3.7% | $169.0M 3.0% | $165.0M 2.8% | $169.0M 2.7% | $142.7M 2.6% | $118.1M 2.5% | $129.3M 2.7% | $137.1M 3.2% | $91.5M 2.3% | $81.7M 2.1% |
| Other Income (Expense), net | $19.0M 0.3% | $56.0M 1.0% | $58.0M 1.0% | $53.0M 0.9% | $24.4M 0.5% | $2.0M 0.0% | -$7.3M -0.2% | $22.5M 0.5% | $10.0M 0.3% | $11.4M 0.3% |
| Pretax Income | $1.23B 19.9% | $2.37B 41.8% | $1.23B 21.0% | $1.09B 17.7% | $855.5M 15.8% | $889.3M 18.8% | $748.3M 15.8% | $576.1M 13.6% | $618.9M 15.6% | $607.0M 15.9% |
| Income Tax Expense | $236.0M 3.8% | $550.0M 9.7% | $234.0M 4.0% | $235.0M 3.8% | $153.2M 2.8% | $168.2M 3.6% | $136.3M 2.9% | $105.7M 2.5% | -$94.5M -2.4% | $181.6M 4.8% |
| Net Income | $1.14B 18.5% | $2.00B 35.2% | $1.17B 20.0% | $866.7M 14.1% | $702.8M 13.0% | $721.0M 15.2% | $611.9M 12.9% | $470.0M 11.1% | $713.3M 18.0% | $425.4M 11.1% |
| Per Share | ||||||||||
| EPS (Basic) | $18.81 | $32.50 | $18.88 | $13.91 | $11.26 | $11.56 | $9.77 | $7.46 | $11.30 | $6.66 |
| EPS (Diluted) | $18.77 | $32.41 | $18.82 | $13.87 | $11.22 | $11.54 | $9.74 | $7.43 | $11.25 | $6.63 |
| Weighted Avg Shares (Basic) | 60.5M | 61.4M | 61.9M | 62.3M | 62.4M | 62.3M | 62.5M | 62.9M | 62.9M | 63.6M |
| Weighted Avg Shares (Diluted) | 60.6M | 61.6M | 62.1M | 62.5M | 62.6M | 62.4M | 62.7M | 63.1M | 63.2M | 63.9M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Ranked against 238 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BHP | $427.1B | — | — | — | — | — | — | — | — | — | 713 |
| LIN | $216.9B | 31.6× | 19.5× | 6.4× | 3.0% | — | 20.3% | 18.0% | 10.9% | 2.1× | 2,148 |
| SCCO | $157.0B | 36.2× | 20.3× | 11.7× | 17.4% | 60.1% | 32.4% | 39.4% | 24.4% | 0.9× | 791 |
| CX | $147.4B | — | — | — | — | — | — | — | — | — | 297 |
| TX | $114.2B | — | — | — | — | — | — | — | — | — | 139 |
| FCX | $99.5B | — | 12.0× | 3.8× | 1.8% | 28.2% | 16.0% | 22.0% | 14.7% | 1.1× | 1,775 |
| AEM | $97.8B | — | — | — | — | — | — | — | — | — | 1,066 |
| SHW | $79.6B | 31.3× | — | 3.4× | 2.1% | 48.8% | 10.9% | 55.9% | 17.0% | — | 1,610 |
| ECL | $77.3B | 37.6× | 22.7× | 4.8× | 2.2% | 44.5% | 12.9% | 21.2% | 19.5% | 0.3× | 1,619 |
| B | $71.3B | — | — | — | — | — | — | — | — | — | 979 |
| WPM | $66.6B | — | — | — | — | — | — | — | — | — | 809 |
| APD | $63.9B | — | 90.3× | 5.3× | -0.5% | 31.4% | -3.3% | -2.6% | -2.6% | 0.1× | 1,702 |
| NUE | $60.1B | 34.7× | — | 1.9× | 5.7% | 11.9% | 5.4% | 8.3% | 8.3% | — | 1,325 |
| VALE | $60.1B | — | — | — | — | — | — | — | — | — | 537 |
| CRH | $58.0B | 15.7× | 9.3× | 1.6× | 5.3% | 36.1% | 10.0% | 15.6% | 9.2% | 2.2× | 9 |
| MT | $55.7B | — | — | — | — | — | — | — | — | — | 286 |
| DD | $53.3B | — | — | 7.8× | 1.9% | 34.5% | -11.4% | -5.6% | -5.6% | — | 1,172 |
| AU | $50.4B | — | — | — | — | — | — | — | — | — | 537 |
| FNV | $50.0B | — | — | — | — | — | — | — | — | — | 614 |
| NTR | $37.1B | — | — | — | — | — | — | — | — | — | 718 |
| STLD | $34.5B | 29.8× | 18.7× | 1.9× | 3.6% | 13.2% | 6.5% | 13.2% | 9.0% | 2.1× | 893 |
| KGC | $33.4B | — | — | — | — | — | — | — | — | — | 630 |
| VMC | $31.9B | 30.1× | 15.2× | 4.0× | 7.1% | 27.4% | 13.6% | 12.6% | 8.4% | 1.8× | 981 |
| MLM | $30.0B | 26.5× | 17.0× | 4.9× | 8.6% | 30.7% | 18.5% | 11.3% | 7.4% | 2.6× | 1,022 |
| PPG | $23.5B | 15.1× | — | 1.5× | 0.2% | 41.3% | 9.9% | 19.8% | 10.3% | — | 1,003 |
Peers = companies sharing MLM's sector (Basic Materials) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.