Loading…
Largest US steel producer, operating electric-arc-furnace mini-mills that recycle scrap into steel products.
Largest US steel producer, operating electric-arc-furnace mini-mills that recycle scrap into steel products.
Sells steel at prices linked to the market, so margins depend on the gap between steel prices and scrap costs. It owns scrap processor David J. Joseph to secure inputs. Pay is largely tied to production, so labour costs flex with output, and the workforce is non-union.
Moat: narrow (cost advantage, scale, process know-how). Lower-cost, flexible electric-arc-furnace (mini-mill) technology and scrap-based model give a structural cost edge over integrated steelmakers.
Headquarters: Charlotte, North Carolina, United States · Founded: 1940 · Employees: 33,000
Size Nucor (NUE) is a United States Materials company (Steel) with a market value of $55.6B, the 233rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $244.97 on 6 Nov 2026.
Performance Over six months the shares gained 7.9%, against -4.1% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 13 in its peer set.
Growth Revenue grew 21.8% over the last twelve months (peer median +9.9%); the operating margin is 13.2% (peer median 10.5%).
Valuation It trades at 10.2× forward earnings against a peer median of 14.2× (3rd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.1 points above its cost of capital (13.0% WACC).
Credit Nucor has 11 bonds outstanding ($5.25B), rated A- by the agencies and trading like A+ at a weighted spread of 67 bp.
Short interest Short interest is 2.1% of the free float (15 Oct 2026).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $38.8B | $32.5B | $30.7B | $34.7B | $41.5B |
| Revenue growth | — | +6% | -11% | -16% | — |
| Gross profit | $6.71B | $3.90B | $4.12B | $7.82B | $12.4B |
| EBITDA | $6.68B | $4.16B | $4.36B | $7.41B | $11.5B |
| Net income | $3.59B | $1.74B | $2.02B | $4.51B | $7.58B |
| Free cash flow | $2.66B | -$188M | $806M | $4.90B | $8.12B |
| Capital expenditure | $2.66B | $3.42B | $3.17B | $2.21B | $1.95B |
| Total debt | $7.09B | $7.25B | $7.07B | $6.95B | $6.80B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Nucor NUE | $55.6B | +8% | +22% | 13% | 10.2× | 12.0% |
| Steel Dynamics STLD | $31.7B | -5% | +26% | 12% | 9.7× | 11.7% |
| Cleveland-Cliffs CLF | $6.54B | +4% | +8% | -1% | 6.6× | n/a |
| ArcelorMittal MT.AS | $45.7B | 0% | -3% | 4% | 23.7× | n/a |
| Commercial Metals CMC | $6.85B | -12% | +20% | 9% | 9.3× | 6.2% |
| Gerdau S.A. Pfd Sponsored ADR Repr 1 Pfd Sh GGB | $8.41B | -10% | +10% | 9% | 7.9× | 2.3% |
| Nippon Steel 5401.T | $22.3B | +15% | +28% | 4% | 11.2× | n/a |
| Algoma Steel ASTL.TO | $573M | +7% | -43% | -62% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NUE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.5% | +1.0% | 6th lowest of 13 |
| 6-month return | +7.9% | -4.1% | 3rd highest of 13 |
| Distance from 52-week high | -14.8% | -18.5% | 5th highest of 13 |
| Revenue growth (TTM) | +21.8% | +9.9% | 4th highest of 13 |
| Operating margin | 13.2% | 10.5% | 5th highest of 13 |
| Forward P/E | 10.2× | 14.2× | 3rd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 12.0% | 6.1% | 2nd most demanding of 10 |
| Growth delivered (Del g) | +10.0% | +8.2% | 5th highest of 10 |
| Hurdle (Req g minus delivered) | +1.9 pp | -2.2 pp | 2nd most demanding of 10 |
| ROIC minus cost of capital | +1.1 pp | +2.7 pp | 5th lowest of 13 |
| EV / EBITDA | 9.0× | 9.1× | 6th cheapest of 11 |
| Net debt / EBITDA | 0.5× | 1.0× | 4th least indebted of 11 |
| Bond spread | 67 bp | 84 bp | 2nd tightest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nucor NUE | United States | $55.6B | +8% | +22% | 13% | 10.2× | 12.0% | +10.0% |
| ArcelorMittal MT.AS | Netherlands | $45.7B | 0% | -3% | 4% | 23.7× | n/a | n/a |
| Vale S.A. Sponsored ADR VALE | United States | $45.4B | -30% | +11% | 25% | 7.7× | -14.0% | -0.9% |
| JSW Steel JSWSTEEL.NS | India | $35.1B | +6% | +14% | 13% | 18.5× | 21.1% | +18.4% |
| Fortescue FMG.AX | Australia | $32.4B | -33% | +4% | 32% | 12.3× | -5.7% | -3.5% |
| Steel Dynamics STLD | United States | $31.7B | -5% | +26% | 12% | 9.7× | 11.7% | +13.6% |
| Tenaris TEN.MI | Italy | $30.2B | -1% | -5% | 19% | 15.9× | 6.1% | +18.6% |
| Tata Steel TATASTEEL.NS | India | $24.6B | -14% | +11% | 9% | 14.0× | 8.7% | +8.2% |
| Nippon Steel 5401.T | Japan | $22.3B | +15% | +28% | 4% | 11.2× | n/a | n/a |
| Reliance RS | United States | $21.2B | +13% | +25% | 9% | 14.9× | 9.1% | +10.2% |
| Baoshan Iron & Steel 600019.SS | China | $19.9B | -3% | +6% | 3% | 14.4× | -9.6% | +2.4% |
| BHP BHP.AX | Australia | $203B | -6% | +9% | 39% | 15.7× | -1.0% | +2.6% |
| POSCO 005490.KS | South Korea | $14.4B | -42% | +4% | 3% | 11.2× | n/a | n/a |
Nucor has 11 bonds outstanding with $5.25B face value. The agencies rate it A-; its bonds trade like A+. Weighted yield 5.52%, a spread of 67 bp over government bonds.