COMMERCIAL METALS Co CMC
Certain trademarks or service marks of CMC appearing in this Annual Report are the property of CMC and are protected under applicable intellectual property laws. Solely for convenience, our trademarks and tradenames referred to in this Annual Report may appear without the ® or ™ symbols, but such references are not intended to indicate in any way that we will not assert, to the fullest extent under applicable law, our rights to these trademarks and tradenames.
Founded in 1915 as a single scrap yard in Dallas, Texas, CMC has become an innovative solutions provider helping build a stronger, safer and more sustainable world. Today, through an extensive manufacturing network principally located in the United States ("U.S.") and Central Europe, we offer products and technologies to meet the critical reinforcement needs of the global construction sector. CMC's solutions support early-stage construction across a wide variety of applications, including infrastructure, non-residential, residential, industrial and energy generation and transmission. Our operations are conducted through three reportable segments: North America Steel Group, Emerging Businesses Group and Europe Steel Group.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.80B | $7.93B | $8.80B | $8.91B | $6.73B | $5.48B | $5.83B | $4.64B | $3.84B | $3.60B |
| Cost of revenue | $6.58B | $6.57B | $6.99B | $7.06B | $5.62B | $4.53B | $5.03B | $4.02B | $3.32B | $3.02B |
| Gross profit | $1.22B | $1.36B | $1.81B | $1.86B | $1.11B | $944.8M | $803.5M | $622.2M | $521.4M | $574.2M |
| SG&A | $700.2M | $668.4M | $646.0M | $545.0M | $505.1M | $507.0M | $463.3M | $401.5M | $387.4M | $383.7M |
| Total operating expenses | $7.69B | $7.29B | $7.68B | $7.40B | $6.20B | $5.11B | $5.56B | $4.48B | $3.78B | $3.52B |
| Interest expense | — | $47.9M | $40.1M | $50.7M | $51.9M | $61.8M | $71.4M | $41.0M | $44.2M | $63.0M |
| Pre-tax income | $107.5M | $635.7M | $1.12B | $1.52B | $534.0M | $370.8M | $268.5M | $165.4M | $65.5M | $76.0M |
| Income tax | $22.9M | $150.2M | $262.2M | $297.9M | $121.2M | $92.5M | $69.7M | $30.1M | $15.3M | $14.0M |
| Net income | $84.7M | $485.5M | $859.8M | $1.22B | $412.9M | $279.5M | $198.1M | $138.5M | $46.3M | $54.8M |
| EPS, basic | 0.75 | 4.19 | 7.34 | 10.09 | 3.43 | 2.35 | 1.68 | 1.19 | 0.40 | 0.48 |
| EPS, diluted | 0.74 | 4.14 | 7.25 | 9.95 | 3.38 | 2.32 | 1.66 | 1.17 | 0.39 | 0.47 |
| Shares, diluted (wtd. avg.) | $114.1M | $117.2M | $118.6M | $122.4M | $122.0M | $120.3M | $119.1M | $118.1M | $117.4M | $116.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.05B | $859.6M | $595.7M | $679.2M | $501.1M | $545.0M | $193.7M | $632.6M | $285.9M | $539.7M |
| Receivables | $1.20B | $1.16B | $1.24B | $1.36B | $1.11B | $880.7M | $1.02B | $749.5M | $561.4M | $689.4M |
| Inventory | $934.3M | $971.8M | $1.04B | $1.17B | $935.4M | $625.4M | $692.4M | $589.0M | $462.6M | $540.0M |
| Total current assets | $3.49B | $3.29B | $3.14B | $3.44B | $2.74B | $2.21B | $2.08B | $2.08B | $1.71B | $2.05B |
| Property, plant and equipment | $2.74B | $2.58B | $2.41B | $1.91B | $1.57B | $1.57B | $1.50B | $1.08B | $1.05B | $895.0M |
| Goodwill | $386.8M | $385.6M | $385.8M | $249.0M | $66.1M | $64.3M | $64.1M | $64.3M | $64.9M | $66.4M |
| Other intangibles | $210.8M | $234.9M | $259.2M | $257.4M | $10.1M | $12.6M | $13.3M | $14.0M | $12.8M | $12.6M |
| Total assets | $7.17B | $6.82B | $6.64B | $6.24B | $4.64B | $4.08B | $3.76B | $3.33B | $2.98B | $3.13B |
| Accounts payable | — | — | — | $540.1M | $475.4M | $455.0M | — | — | — | — |
| Short-term debt | $44.3M | $38.8M | $40.5M | $388.8M | $54.4M | $18.1M | $3.9M | $0 | — | — |
| Total current liabilities | $1.26B | $834.9M | $843.7M | $1.36B | $980.5M | $745.3M | $694.6M | $541.9M | $608.4M | $821.1M |
| Long-term debt | $1.21B | $1.06B | $1.06B | $1.46B | $1.03B | $1.04B | — | — | — | — |
| Total liabilities | $2.98B | $2.52B | $2.52B | $2.95B | $2.34B | $2.19B | $2.13B | $1.83B | $1.57B | $1.76B |
| Retained earnings | $4.51B | $4.50B | $4.10B | $3.31B | $2.16B | $1.81B | $1.59B | $1.45B | $1.36B | $1.37B |
| Total equity | $4.19B | $4.30B | $4.12B | $3.29B | $2.30B | $1.89B | $1.62B | $1.49B | -$2.7M | $1.37B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $715.1M | $899.7M | $1.34B | $700.3M | $228.5M | $791.2M | $37.0M | -$433.9M | -$523.3M | $586.9M |
| Depreciation and amortisation | $285.9M | $280.4M | $218.8M | $175.0M | $167.6M | $165.8M | $158.7M | $131.7M | $125.1M | $126.9M |
| Stock-based compensation | $37.1M | $45.1M | $60.5M | $47.0M | $43.7M | $31.9M | $25.1M | $23.9M | $30.3M | $26.3M |
| Capital expenditure | $402.8M | $324.3M | $606.7M | $450.0M | $184.2M | $187.6M | $138.8M | $174.7M | $213.1M | $163.3M |
| Investing cash flow | -$346.8M | -$323.0M | -$835.2M | -$684.7M | -$162.1M | -$192.9M | -$462.0M | $521.9M | $595.2M | -$153.9M |
| Financing cash flow | -$183.4M | -$313.8M | -$599.5M | $165.3M | -$109.4M | -$247.8M | -$13.2M | $259.4M | -$324.5M | -$377.7M |
| Dividends paid | $81.4M | $78.9M | $74.9M | $67.7M | $57.8M | $57.1M | $56.5M | $56.1M | $55.5M | $55.3M |
| Buybacks | $198.8M | $182.9M | $101.4M | $161.9M | $0 | $0 | — | $0 | $0 | $30.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000022444-25-000138.
Others in SIC 3312
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| NUE | NUCOR CORP | $59.23B | 34.7x | 5.7% |
| STLD | STEEL DYNAMICS INC | $34.69B | 30.3x | 3.6% |
| CRS | CARPENTER TECHNOLOGY CORP | $23.56B | 45.2x | 8.6% |
| SXC | SunCoke Energy, Inc. | $876.8M | — | -5.1% |
| MTUS | Metallus Inc. | $826.1M | — | 6.9% |
| TWI | TITAN INTERNATIONAL INC | $537.6M | — | -0.9% |
| ASTL | Algoma Steel Group Inc. | — | — | — |
| SIM | GRUPO SIMEC, S.A.B. de C.V. | — | — | — |