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NUENucor

Materials · Steel · NYSE
NUE quote by TradingView
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FY2025 at a glance

Sales up 5.7%, free cash flow down to -$188.0M

XBRL, from each 10-K
RevenueStatements ↓
$32.5B
from $30.7B in FY2024
FY2016FY2025
Net incomeStatements ↓
$1.7B
from $2.0B in FY2024
FY2016FY2025
Free cash flowStatements ↓
-$188.0M
from $806.0M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$7.52
from $8.46 in FY2024
FY2016FY2025
Total debtStatements ↓
$7.1B
from $6.9B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (36, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)12.53Sales (ttm)36.1BNet income (ttm)2.9BSales growth+5.7%EPS growth-11.1%Sales Q/Q+23.0%
Free cash flow1.6BGross margin15.5%Oper. margin-Net margin8.0%FCF margin4.4%ROE13.0%
ROA7.8%R&D / sales-Dividend2.21Debt/Eq0.32Curr. ratio2.51Cash2.5B
Op. cash flow (ttm)4.4BNet debt4.6BQuick ratio1.47Payout ratio29.4%Tax rate20.6%Stock pay / sales0.4%
Shares out.226.9MShares Y/Y-3.1%Book / share97.45Cash / share10.92Sales / share159.12Asset turnover0.98
Inventory turns5.24Days sales out.35Sales 3Y CAGR-7.8%Sales 5Y CAGR+10.0%EPS 3Y CAGR-36.1%EPS 5Y CAGR+26.1%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Free cash flow turned negative$806.0M → −$188.0M · Cash from operations − capital expenditure · 10-K ↗
  • Revenue growth sped up to +5.7%-11.5% → +5.7% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
What management wrote about it → · Every company →

NUE against Materials peers

Ten years, side by side → · All 24 →
GrowthProfitBalanceCleanInsiders
NUEPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 24 companies, the better end on the right. Hover a dot for the company.

Sales growth
+5.7%11th of 24 · median +4.4%
Net margin
8.0%13th of 24 · median 8.4%
Return on equity
13.0%13th of 24 · median 13.1%
Free cash flow margin
4.4%18th of 24 · median 6.8%
Debt / equity (less is better)
0.323rd of 24 · median 0.76
NUE and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
NUE Nucor$36.1B +5.7%15.5%8.0%13.0%4.4%0.32
DOW Dow Inc.$42.6B -7.0%11.1%-2.1%-5.5%4.9%1.08
CRH CRH plc$39.0B +5.3%36.2%9.2%14.3%6.5%0.79
LIN Linde plc$36.2B +3.0%-19.3%17.8%14.0%0.67
LYB LyondellBasell$32.0B -9.7%14.3%4.1%11.6%7.6%1.10
SW Smurfit Westrock$31.5B +47.7%17.4%1.5%2.6%2.7%0.78
Where each dollar goes

From $36.5B of sales to $6.8B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $11.0BRevenue to Cost of revenue: $25.5BGross profit to Net profit: $6.8BGross profit to Costs, tax, other: $4.2B Revenue: $36.5B Revenue$36.5B +81% Y/Y Gross profit: $11.0B · 30% margin Gross profit$11.0B30% margin Cost of revenue: $25.5B · 70% of revenue Cost of revenue$25.5B70% of revenue Net profit: $6.8B · 19% margin Net profit$6.8B19% margin +846% Y/Y Costs, tax, other: $4.2B · 12% of revenue Costs, tax, other$4.2B12% of revenue

Swipe sideways for the whole flow →

From $41.5B of sales to $7.6B of profit

FY2022, from the 10-K income statement and revenue by segment
Steel Mills to Revenue: $24.2BSteel Products to Revenue: $15.1BRaw Materials to Revenue: $2.3BRevenue to Gross profit: $12.5BRevenue to Cost of revenue: $29.0BGross profit to Net profit: $7.6BGross profit to Costs, tax, other: $4.9B Steel Mills: $24.2B · 58% Steel Mills$24.2B58% Steel Products: $15.1B · 36% Steel Products$15.1B36% Raw Materials: $2.3B · 5% Raw Materials$2.3B5% Revenue: $41.5B Revenue$41.5B +14% Y/Y Gross profit: $12.5B · 30% margin Gross profit$12.5B30% margin Cost of revenue: $29.0B · 70% of revenue Cost of revenue$29.0B70% of revenue Net profit: $7.6B · 18% margin Net profit$7.6B18% margin +11% Y/Y Costs, tax, other: $4.9B · 12% of revenue Costs, tax, other$4.9B12% of revenue

Swipe sideways for the whole flow →

From $34.7B of sales to $4.5B of profit

FY2023, from the 10-K income statement and revenue by segment
Steel Mills to Revenue: $20.1BSteel Products to Revenue: $12.8BRaw Materials to Revenue: $1.9BRevenue to Gross profit: $7.8BRevenue to Cost of revenue: $26.9BGross profit to Net profit: $4.5BGross profit to Costs, tax, other: $3.3B Steel Mills: $20.1B · 58% Steel Mills$20.1B58% Steel Products: $12.8B · 37% Steel Products$12.8B37% Raw Materials: $1.9B · 5% Raw Materials$1.9B5% Revenue: $34.7B Revenue$34.7B −16% Y/Y Gross profit: $7.8B · 23% margin Gross profit$7.8B23% margin Cost of revenue: $26.9B · 77% of revenue Cost of revenue$26.9B77% of revenue Net profit: $4.5B · 13% margin Net profit$4.5B13% margin −41% Y/Y Costs, tax, other: $3.3B · 9% of revenue Costs, tax, other$3.3B9% of revenue

Swipe sideways for the whole flow →

From $30.7B of sales to $2.0B of profit

FY2024, from the 10-K income statement and revenue by segment
Steel Mills to Revenue: $18.7BSteel Products to Revenue: $10.1BRaw Materials to Revenue: $1.9BRevenue to Gross profit: $4.1BRevenue to Cost of revenue: $26.6BGross profit to Net profit: $2.0BGross profit to Costs, tax, other: $2.1B Steel Mills: $18.7B · 61% Steel Mills$18.7B61% Steel Products: $10.1B · 33% Steel Products$10.1B33% Raw Materials: $1.9B · 6% Raw Materials$1.9B6% Revenue: $30.7B Revenue$30.7B −11% Y/Y Gross profit: $4.1B · 13% margin Gross profit$4.1B13% margin Cost of revenue: $26.6B · 87% of revenue Cost of revenue$26.6B87% of revenue Net profit: $2.0B · 7% margin Net profit$2.0B7% margin −55% Y/Y Costs, tax, other: $2.1B · 7% of revenue Costs, tax, other$2.1B7% of revenue

Swipe sideways for the whole flow →

From $32.5B of sales to $1.7B of profit

FY2025, from the 10-K income statement and revenue by segment
Steel Mills to Revenue: $20.0BSteel Products to Revenue: $10.3BRaw Materials to Revenue: $2.2BRevenue to Gross profit: $3.9BRevenue to Cost of revenue: $28.6BGross profit to Net profit: $1.7BGross profit to Costs, tax, other: $2.1B Steel Mills: $20.0B · 62% Steel Mills$20.0B62% Steel Products: $10.3B · 32% Steel Products$10.3B32% Raw Materials: $2.2B · 7% Raw Materials$2.2B7% Revenue: $32.5B Revenue$32.5B +6% Y/Y Gross profit: $3.9B · 12% margin Gross profit$3.9B12% margin Cost of revenue: $28.6B · 88% of revenue Cost of revenue$28.6B88% of revenue Net profit: $1.7B · 5% margin Net profit$1.7B5% margin −14% Y/Y Costs, tax, other: $2.1B · 7% of revenue Costs, tax, other$2.1B7% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Costs, tax, other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

1 of 3
  • !
    Net margin below the peer median8.0% vs 8.4%
  • !
    Return on equity below 15%13.0%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 4.9% → 5.4%

Balance sheet

3 of 3
  • ✓
    Debt smaller than equityDebt / equity 0.32 on the latest balance sheet (peer median 0.76)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 2.51
  • ✓
    Net debt under 3 years of free cash flow$4.2B net debt, 2.6 years
Debt / equity at each year end, FY2016 to FY2025: 0.56 → 0.34
What the debt is made of ↓

Cash and shareholders

3 of 4
  • !
    Free cash flow positive in 9 of 10 years−$188.0M last year
  • ✓
    Share count down over 5 years−23.8%
  • ✓
    Dividend per share up over 5 years$1.61 → $2.21
  • ✓
    Cash from operations above net income$3.2B vs $1.7B
Free cash flow, FY2016 to FY2025: 1.1B → -188.0M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$6.9B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 32.5B Net income 1.7B
FY2016 revenue 16.2B · SalesRevenueNet, 0001193125-18-064018 FY2016 net income 796.3M · NetIncomeLoss, 0001193125-19-057744 16.2B FY2016 FY2017 revenue 20.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001564590-20-007794 FY2017 net income 1.3B · NetIncomeLoss, 0001564590-20-007794 20.3B FY2017 FY2018 revenue 25.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001564590-21-009503 FY2018 net income 2.4B · NetIncomeLoss, 0001564590-21-009503 25.1B FY2018 FY2019 revenue 22.6B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001564590-22-007679 FY2019 net income 1.3B · NetIncomeLoss, 0001564590-22-007679 22.6B FY2019 FY2020 revenue 20.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001564590-23-002793 FY2020 net income 721.5M · NetIncomeLoss, 0001564590-23-002793 20.1B FY2020 FY2021 revenue 36.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000950170-24-021195 FY2021 net income 6.8B · NetIncomeLoss, 0000950170-24-021195 36.5B FY2021 FY2022 revenue 41.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000950170-25-028427 FY2022 net income 7.6B · NetIncomeLoss, 0000950170-25-028427 41.5B FY2022 FY2023 revenue 34.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-26-071575 FY2023 net income 4.5B · NetIncomeLoss, 0001193125-26-071575 34.7B FY2023 FY2024 revenue 30.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-26-071575 FY2024 net income 2.0B · NetIncomeLoss, 0001193125-26-071575 30.7B FY2024 FY2025 revenue 32.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-26-071575 FY2025 net income 1.7B · NetIncomeLoss, 0001193125-26-071575 32.5B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

NUE's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue32.5B
FY2016: 16.2BFY2017: 20.3BFY2018: 25.1BFY2019: 22.6BFY2020: 20.1BFY2021: 36.5BFY2022: 41.5BFY2023: 34.7BFY2024: 30.7BFY2025: 32.5B FY2017FY2019FY2021FY2023FY2025
Net income1.7B
FY2016: 796.3MFY2017: 1.3BFY2018: 2.4BFY2019: 1.3BFY2020: 721.5MFY2021: 6.8BFY2022: 7.6BFY2023: 4.5BFY2024: 2.0BFY2025: 1.7B FY2017FY2019FY2021FY2023FY2025
Free cash flow-188.0M
FY2016: 1.1BFY2017: 606.8MFY2018: 1.4BFY2019: 1.3BFY2020: 1.2BFY2021: 4.6BFY2022: 8.1BFY2023: 4.9BFY2024: 806.0MFY2025: -188.0M FY2017FY2019FY2021FY2023FY2025
EPS (diluted)7.52
FY2016: 2.48FY2017: 4.10FY2018: 7.42FY2019: 4.14FY2020: 2.36FY2021: 23.16FY2022: 28.79FY2023: 18.00FY2024: 8.46FY2025: 7.52 FY2017FY2019FY2021FY2023FY2025
Dividend per share2.21
FY2016: 1.50FY2017: 1.51FY2018: 1.54FY2019: 1.60FY2020: 1.61FY2021: 1.72FY2022: 2.01FY2023: 2.07FY2024: 2.17FY2025: 2.21 FY2017FY2019FY2021FY2023FY2025
Diluted shares231.0M
FY2016: 319.8MFY2017: 320.8MFY2018: 316.7MFY2019: 305.5MFY2020: 303.3MFY2021: 293.4MFY2022: 263.2MFY2023: 250.4MFY2024: 238.5MFY2025: 231.0M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Steel Mills 20.0B61.6% +6.8%
Steel Products 10.3B31.8% +2.4%
Raw Materials 2.2B6.7% +13.0%

10-K 0001193125-26-071575, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Sheet 9.2B28.2% -1.0%
Bar 5.7B17.6% +10.3%
Other Steel Products 3.5B10.8% +2.4%
Structural 2.6B8.1% +15.6%
Plate 2.5B7.7% +23.4%
Joist and Deck 2.2B6.8% -0.5%
Raw Materials 2.2B6.7% +13.0%
Rebar Fabrication 1.9B5.9% +7.5%
Tubular Products 1.4B4.4% +10.6%
Building Systems 1.2B3.8% -7.3%

10-K 0001193125-26-071575, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue16.2B20.3B25.1B22.6B20.1B36.5B41.5B34.7B30.7B32.5B
Cost of revenue14.2B17.7B20.8B19.9B17.9B25.5B29.0B26.9B26.6B28.6B
SG&A596.8M687.5M860.7M711.2M615.0M1.7B2.0B1.6B1.1B1.2B
Interest expense181.2M187.3M161.3M157.4M166.6M163.1M219.0M246.0M228.0M170.0M
Pretax income1.3B1.7B3.2B1.8B835.5M9.2B10.2B6.3B2.9B2.6B
Income tax398.2M369.4M748.3M411.9M-490K2.1B2.2B1.4B583.0M530.0M
Net income796.3M1.3B2.4B1.3B721.5M6.8B7.6B4.5B2.0B1.7B
EPS (diluted)2.484.107.424.142.3623.1628.7918.008.467.52
Diluted shares319.8M320.8M316.7M305.5M303.3M293.4M263.2M250.4M238.5M231.0M
Depreciation & amortization613.2M635.8M630.9M648.9M702.1M735.4M827.0M931.0M1.1B1.2B
Net margin4.9%6.5%9.4%5.6%3.6%18.7%18.3%13.0%6.6%5.4%
Revenue growth-+25.0%+23.8%-9.9%-10.8%+81.2%+13.8%-16.4%-11.5%+5.7%
EPS growth-+65.3%+81.0%-44.2%-43.0%+881%+24.3%-37.5%-53.0%-11.1%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash2.0B949.1M1.4B1.5B2.6B2.4B4.3B6.4B3.6B2.3B
Short-term investments150.0M50.0M0300.0M408.0M253.0M576.9M747.0M581.0M439.0M
Receivables1.6B2.0B2.5B2.2B2.3B3.9B3.6B3.0B2.7B3.1B
Inventory2.5B3.5B4.6B3.8B3.6B6.0B5.5B5.6B5.1B5.5B
Current assets6.5B6.8B8.6B8.2B9.5B12.8B14.7B16.4B12.5B11.8B
Property & equipment5.1B5.1B5.3B6.2B6.9B8.1B9.6B11.1B13.2B15.3B
Goodwill2.1B2.2B2.2B2.2B2.2B2.8B3.9B4.0B4.3B4.3B
Total assets15.2B15.8B17.9B18.3B20.1B25.8B32.5B35.3B33.9B35.1B
Accounts payable838.1M1.2B1.4B1.2B1.4B2.0B1.6B2.0B1.8B1.9B
Current liabilities2.4B2.8B2.8B2.5B2.6B5.2B4.3B4.6B5.0B4.0B
Total debt4.4B3.8B4.3B4.4B5.3B5.7B6.7B6.8B6.9B7.1B
Total liabilities7.0B6.8B7.7B7.6B8.9B11.2B12.9B13.2B12.5B13.0B
Shareholders' equity7.9B8.7B9.8B10.4B10.8B14.0B18.4B20.9B20.3B20.9B
Retained earnings7.6B8.5B10.3B11.1B11.3B17.7B24.8B28.8B30.3B31.5B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow1.8B1.1B2.4B2.8B2.7B6.2B10.1B7.1B4.0B3.2B
Capital spending604.8M448.6M982.5M1.5B1.5B1.6B1.9B2.2B3.2B3.4B
Free cash flow1.1B606.8M1.4B1.3B1.2B4.6B8.1B4.9B806.0M-188.0M
Stock-based pay (added back)56.5M64.2M73.4M90.4M73.9M135.8M137.0M130.0M132.0M133.0M
Dividends paid481.1M485.3M485.4M492.1M491.7M483.5M534.0M515.0M522.0M512.0M
Buybacks5.2M90.3M854.0M298.5M39.5M3.3B2.8B1.6B2.2B700.0M
Acquisitions474.8M544.0M33.1M83.1M88.1M1.4B3.6B71.0M758.0M2.0M
Debt raised--995.7M-1.2B197.0M2.1B--1.2B
Debt repaid-600.0M500.0M-97.2M-1.1B10.0M10.0M1.0B
Investing cash flow-1.0B-918.9M-1.0B-1.8B-1.8B-2.9B-5.7B-2.5B-3.7B-3.2B
Financing cash flow-626.4M-1.2B-908.2M-880.4M285.9M-3.6B-2.5B-2.6B-3.1B-1.3B
Dividend per share1.501.511.541.601.611.722.012.072.172.21

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)56.5M64.2M73.4M90.4M73.9M135.8M137.0M130.0M132.0M133.0M
Stock-based pay / revenue0.3%0.3%0.3%0.4%0.4%0.4%0.3%0.4%0.4%0.4%
Operating lease cost---23.5M24.0M24.5M27.0M30.0M29.0M33.0M
Finance lease principal paid---9.1M9.5M11.4M16.0M17.0M14.0M19.0M
Right-of-use assets----93.9M92.3M101.5M103.0M107.0M118.0M
Operating lease liabilities---92.5M95.7M94.8M105.1M107.1M117.0M128.0M
Finance lease liabilities---85.2M90.3M179.1M188.4M189.0M191.0M258.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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