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Stock research / United States / CMC · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) · NYSE

Commercial Metals Co. (CMC)

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Commercial Metals Co. (CMC) reported revenue of $2.5 billion for Q3 FY2026, the quarter ended 31 May 2026, up 22.9% on the same quarter a year earlier. Net income was $173 million, up 108.1% on the year, and diluted earnings per share $1.55. The figures are the company's own, from the 10-Q it filed with the SEC on 29 June 2026.

Revenue$2.5 billionup 22.9%
Net income$173 millionup 108.1%
Diluted EPS$1.55
QuarterQ3 FY2026ended 31 May 2026

Commercial Metals (CMC) in brief

Commercial Metals (CMC) reported revenue of $7.8 billion for fiscal 2025, the year ended 31 August 2025, down 1.6% on the year before.
Read moreNet income was $85 million and diluted earnings per share $0.74. Revenue was $7.9 billion in fiscal 2024, $8.8 billion in fiscal 2023, $8.9 billion in fiscal 2022 and $6.7 billion in fiscal 2021. Net income in the same years was $485 million, $860 million, $1.2 billion and $413 million. Over the twelve months to 31 May 2026, Commercial Metals reported revenue of $8.9 billion and net income of $595 million. Revenue grew 7.3% a year, compounded, over the five years to fiscal 2025. Commercial Metals declared $0.72 a share in dividends over the last four quarters and had 111 million shares outstanding at the latest filed count. At 31 May 2026 it carried $3.2 billion of debt and $563 million of cash. At the close of 8 October 2026 the market cap of Commercial Metals was $7.0 billion, 11.9 times its earnings over the last twelve months.

Ratios

From the filings

ROE13.1%
ROCE8.7%
Operating margin7.6%
Net margin6.7%
FCF margin4.6%
Interest covern/a
Debt to equity0.71
Cash conversion1.54
Share count, 1 year-1.3%
Sales CAGR, 3 years-4.4%
Profit CAGR, 3 years-58.9%
EPS, TTM$5.31

At the close of 8 October 2026

Price$63.10
Market cap$7.0 billion
Stock P/E11.88
Price to book1.54
EV / EBITDA9.34
Dividend yield1.1%
Market cap / sales0.79
52-week high$83.21
52-week low$55.35
Price, 1 year6.4%
Price CAGR, 3 years9.5%
Price CAGR, 5 years14.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Commercial Metals Co. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
CMCgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CMC

Filings29 in twelve months: 21 current reports (8-K), about 12 regulation fd disclosure; 10 other events; 4 results of operations; 4 material agreement; 2 officer or director change
Planned insider sales2 Form 144 notices in twelve months, $2.4 million; latest 3 February 2026
Options tapeput/call 0.31 by open interest at the 8 October 2026 close; the straddle prices a 6.3% move to 16 October 2026
13F holders7 of the followed funds hold it; largest FMR LLC; 6 Schedule 13D or 13G filings in twelve months
Insider trading2 sales and 5 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest6.2 million shares short, 6.47 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue2,2092,0031,8482,0781,9961,9101,7542,0202,1152,1202,1322,483
Cost of revenue1,7841,6041,5521,7381,6731,6021,5351,7201,7221,7131,7442,028
Gross profit425399296340323308220300393407388455
Gross margin19%20%16%16%16%16%13%15%19%19%18%18%
SG&A174163167168167178168176179196233222
Operating income238225117160134-23136.1110193183110189
Operating margin11%11%6%8%7%-12%2%5%9%9%5%8%
Interest expense8.311.811.912.112.111.311.210.9n/a24.85.06.0
Pre-tax income238225117160134-23136.1110193183110189
Tax rate23%22%27%25%22%n/a29%24%21%3%15%8%
Net income18417685.8119104-17625.583.115217793.0173
Net margin8%9%5%6%5%-9%1%4%7%8%4%7%
Diluted EPS$1.56$1.49$0.73$1.02$0.90-$1.54$0.22$0.73$1.35$1.58$0.83$1.55
Operating cash flow40926189.019835221332.4154315204166233
Capital expenditure16767.093.882.081.511886.389.5109125123156
Free cash flow243194-4.811627094.8-53.865.020678.843.676.4
Buybacks18.628.447.951.854.850.448.050.450.038.918.318.9
Dividends paid18.718.718.620.820.720.620.420.320.120.020.022.2
Shares outstanding117m117m116m115m114m114m113m112m111m111m111m111m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023 †FY2024 †FY2025TTM
Revenue6,7905,4243,5963,8444,6445,8295,4766,7308,9138,8007,9267,7988,850
Cost of revenue6,0964,8283,0223,3234,0225,0264,5325,6247,0576,9886,5676,5787,207
Gross profit6945975745216228039451,1061,8561,8121,3591,2201,643
Gross margin10.2%11.0%16.0%13.6%13.4%13.8%17.3%16.4%20.8%20.6%17.1%15.6%18.6%
Selling, general and administrative449414384387401463507505545646668700830
Operating income16596.576.065.51652683715341,5151,122636108675
Operating margin2.4%1.8%2.1%1.7%3.6%4.6%6.8%7.9%17.0%12.8%8.0%1.4%7.6%
Interest expense77.076.563.044.241.071.461.851.950.740.147.9n/an/a
Pre-tax income16596.576.065.51652683715341,5151,122636108675
Income tax47.433.514.015.330.169.792.512129826215022.979.6
Effective tax rate28.7%34.7%18.4%23.3%18.2%26.0%24.9%22.7%19.7%23.4%23.6%21.3%11.8%
Net income11379.454.846.31391982804131,21786048584.7595
Net margin1.7%1.5%1.5%1.2%3.0%3.4%5.1%6.1%13.7%9.8%6.1%1.1%6.7%
Diluted EPS$0.95$0.67$0.47$0.39$1.17$1.66$2.32$3.38$9.95$7.25$4.14$0.74$5.31
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
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. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
North America Steel Group6,7986,3836,15178.9%
Europe Steel Group1,33185292111.8%
Emerging Businesses Group74575180610.3%
Corporate and Other-74.0-59.5-79.6-1.0%
From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Steel products3,8463,2373,29142.2%
Downstream products2,7302,4972,28729.3%
Raw materials1,3451,3301,32917.0%
Other2903213264.2%
Construction products3332903043.9%
Ground stabilization solutions2562512623.4%
Steel productsDownstream productsRaw materialsOtherConstruction productsGround stabilization solutions
8,800FY20237,926FY20247,798FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States6,8956,4656,21679.7%
Other96387796512.4%
PL9425836187.9%
United StatesOtherPL
8,800FY20237,926FY20247,798FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023 †FY2024 †FY2025TTM
Operating cash flow137313587-523-43437.07912287001,344900715918
Capital expenditure102120163213175139188184450607324403513
Free cash flow35.2194424-736-609-10260444.3250737575312405
Free cash flow margin0.5%3.6%11.8%-19.2%-13.1%-1.7%11.0%0.7%2.8%8.4%7.3%4.0%4.6%
Cash from investing-47.3-76.8-154595522-462-193-162-685-835-323-347-2,991
Cash from financing-34.4-181-378-324259-13.2-248-109165-599-314-1831,740
Depreciation and amortisation136133127125132159166168175219280286355
Share-based compensation18.123.526.330.323.925.131.943.747.060.545.137.146.7
Buybacks0.041.830.60.00.0n/a0.00.0162101183199126
Dividends paid56.455.955.355.556.156.557.157.867.774.978.981.482.3
Dividend per share$0.48$0.48$0.48$0.48$0.48$0.48$0.48$0.48$0.56$0.64$0.68$0.72n/a
Diluted shares, weighted119m118m117m117m118m119m120m122m122m119m117m114m112m
Shares outstanding at period end118m116m115m116m117m118m119m121m117m117m114m111m111m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity1,3481,3811,3671,4011,4931,6241,8892,2953,2864,1214,3004,1934,532
Non-controlling interest0.10.10.20.20.20.20.20.20.20.20.20.30.3
Short-term borrowingsn/an/an/an/a0.03.9n/an/an/an/an/an/an/a
Debt1,2811,2727588061,1391,2271,0421,0261,4551,0611,0571,2053,200
Operating lease liabilitiesn/an/an/an/an/an/a95.893.4111130140137181
Finance lease liabilitiesn/an/an/an/an/an/a35.936.139.267.4104116138
Other liabilities1,0597861,0057696969041,0191,1881,3451,2601,2161,5201,745
Total liabilities and equity3,6893,4403,1312,9753,3283,7594,0824,6396,2376,6396,8187,1729,796
Owned
Fixed assets9258848951,0521,0751,5011,5711,5661,9112,4092,5772,7433,330
Goodwill74.366.466.464.964.364.164.366.12493863863872,137
Intangible assets24.216.312.612.814.013.312.610.1257259235211464
Cash and equivalentsn/a4865402866331945455016795968601,046563
Receivables1,0289016895617491,0168811,1061,3591,2401,1591,2021,391
Inventory9358805404635896926259351,1701,0369729341,173
Other assets701207388536204278383454612713630650739
Total assets3,6893,4403,1312,9753,3283,7594,0824,6396,2376,6396,8187,1729,796
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded3.7%7.3%-4.4%15.2%
Profit growth, compounded0.6%-21.2%-58.9%1516.6%
Return on equity, average13.3%17.8%11.4%2.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Steel Works Etc

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Corning Inc. GLW$131.6 billion69.7915.1%15.3%19.4%0.620.7%
Howmet Aerospace Inc. HWM$89.1 billion48.0132.6%27.4%18.1%0.790.3%
Nucor Corp. NUE$55.8 billion19.6313.0%n/a17.2%0.290.9%
Steel Dynamics Inc. STLD$33.6 billion21.2317.1%10.0%19.8%0.450.9%
ATI Inc. ATI$25.6 billion55.1725.4%15.2%4.6%0.960.0%
Carpenter Technology Corp. CRS$19.2 billion36.8023.8%22.5%8.6%0.310.2%
POSCO Holdings Inc. PKX *$17.2 billion33.441.2%2.1%-6.1%0.513.8%
Mueller Industries Inc. MLI$13.4 billion15.7524.0%23.0%14.8%0.000.8%
Alcoa Corp. AA$11.3 billion8.9017.3%n/a6.5%0.300.2%
Commercial Metals Co. CMC$7.0 billion11.8813.1%7.6%15.2%0.711.1%
Belden Inc. BDC$4.2 billion17.5517.6%11.9%9.4%0.890.2%
4 companies share its SEC industry code (Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)); the rest are the names nearest in size in its wider industry, Steel Works Etc, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q31 May 202629 June 2026EDGAR
10-Q28 February 202631 March 2026EDGAR
10-Q30 November 20258 January 2026EDGAR
10-K31 August 202516 October 2025EDGAR
10-Q31 May 202524 June 2025EDGAR
10-Q28 February 202525 March 2025EDGAR
10-Q30 November 20246 January 2025EDGAR
10-K31 August 202417 October 2024EDGAR
10-Q31 May 202425 June 2024EDGAR
10-Q29 February 202426 March 2024EDGAR

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