A Business at a Glance
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NUCOR CORP
NUE
$57.2B
Mkt Cap
$247.56
+2.66%
NUCOR CORP (NUE) has a current P/E ratio of 28.3, compared to its historical median P/E of 12.7. The stock is currently considered Expensive based on its historical valuation range.
NUCOR CORP (NUE) has a 5-year average return on invested capital (ROIC) of 26.0%. This indicates strong capital allocation and a potential competitive advantage.
NUCOR CORP (NUE) has a market capitalization of $56.4B. It is classified as a large-cap stock.
Yes, NUCOR CORP (NUE) pays a dividend with a trailing twelve-month yield of 0.91%. The company also returns capital through share buybacks, with a buyback yield of 0.93%.
Based on historical P/E analysis, NUCOR CORP (NUE) appears expensive. The current P/E of 28.3 is 123% above its historical median of 12.7. The estimated fair value CAGR (P/E method) is 22.3%.
NUCOR CORP (NUE) operates in the Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) industry, within the Materials sector.
NUCOR CORP (NUE) reported annual revenue of $32.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Nucor Corporation is North America's largest recycler and leading steel manufacturer, operating three segments: steel mills (62% of 2025 external sales), steel products, and raw materials. The company manufactures sheet steel (hot-rolled, cold-rolled, galvanized), plate steel, structural steel, and bar steel primarily from scrap steel using electric arc furnaces, continuous casting, and automated rolling mills, with approximately 20 million gross tons of scrap recycled annually. Nucor's steel mills segment operates 15 bar mills, six sheet mills (including a 51% stake in California Steel Industries), two structural mills (including a 51% stake in Nucor-Yamato), and three plate mills, with combined capacity of approximately 31.2 million tons per year; the steel products segment manufactures joists, deck, tubular products, rebar fabrication, pre-engineered metal buildings, insulated metal panels, and steel racking through brands including Vulcraft, Verco, and Nucor Building Systems. The company distributes primarily through in-house sales forces and internal trading companies, serving end-use markets including nonresidential construction, durable goods, infrastructure, automotive, and energy; Nucor holds a 50% economic interest in NuMit LLC, which operates 30 sheet processing facilities across North America. The company's competitive advantages include leading market positions in most products (structural steel, merchant bar, joists, deck, and conduit), a highly efficient manufacturing platform, and a diversified customer base across North America, with approximately 79% of steel mills shipments to external customers in 2025.
【Strong demand momentum continuing】 Management expects domestic steel demand to be stable to slightly up in 2026, with shipments projected to grow more than 5% as the company benefits from strong nonresidential construction, infrastructure, data center, energy, and border fence demand. Backlogs reached historically high levels entering 2026, with steel mills backlog up 40% year-over-year and steel products backlog up 15%, supporting higher volumes and improving margins as realized pricing catches up with rising substrate costs. The company expects meaningful free cash flow improvement in 2026 driven by lower capital expenditures (moderating from elevated levels), incremental EBITDA from recently completed and ramping projects, and improved market conditions, while continuing to return approximately 40% of earnings to shareholders through dividends and repurchases. Multiple growth projects are advancing toward profitability, including the West Virginia sheet mill expected to begin commercial shipments in early 2027, with the company positioned to deliver significantly higher earnings and cash flow in 2026 compared to 2025.
| Metric | Target | Period |
|---|---|---|
| Steel mill shipments growth | approximately 5% | FY2026 |
| Shipments growth | more than 5% | FY2026 |
| Domestic steel demand | flat to up 2% | FY2026 |
| Capital expenditures | $2.5 billion | FY2026 |
Steel mill shipments growth (FY2026): “For the full year, we currently expect Nucor steel mill shipments to increase approximately 5% compared to 2025.”
Shipments growth (FY2026): “After achieving approximately 6% growth of shipments in 2025, we expect shipments to grow by more than 5% in 2026.”
Domestic steel demand (FY2026): “we expect domestic steel consumption to be stable, with overall demand remaining flat to up 2% for 2026.”
Capital expenditures (FY2026): “Capital expenditures totaled $661 million for the quarter, and we remain on track with our $2.5 billion CapEx estimate for the full year.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 34.2B | 32.5B | 30.7B | 34.7B | 41.5B | 36.5B |
| Net Income | 2.3B | 1.7B | 2.0B | 4.5B | 7.6B | 6.8B |
| EPS | $9.50 | $7.52 | $8.46 | $18.00 | $28.79 | $23.16 |
| Free Cash Flow | 532M | -188M | 806M | 4.9B | 8.1B | 4.6B |
| ROIC | 0.0% | 8.0% | 10.3% | 23.4% | 42.0% | 46.3% |
| Gross Margin | - | 11.9% | 13.3% | 22.5% | 30.1% | 30.2% |
| Debt/Equity | 0.33 | 0.35 | 0.35 | 0.33 | 0.37 | 0.41 |
| Dividends/Share | $2.25 | $2.21 | $2.17 | $2.07 | $2.01 | $1.72 |
| Operating Income | 0 | 2.4B | 2.8B | 6.1B | 10.0B | 9.0B |
| Operating Margin | 0.0% | 7.5% | 9.2% | 17.6% | 24.0% | 24.8% |
| ROE | 10.8% | 8.4% | 9.8% | 22.9% | 46.7% | 54.8% |
| Shares Outstanding | 228M | 231M | 239M | 250M | 263M | 293M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 21.1B | 16.4B | 16.2B | 20.3B | 25.1B | 22.6B | 20.1B | 36.5B | 41.5B | 34.7B | 30.7B | 32.5B | 34.2B |
| Gross Margin | 8.8% | 6.8% | 12.5% | 12.7% | 17.1% | 11.9% | 11.1% | 30.2% | 30.1% | 22.5% | 13.3% | 11.9% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 521M | 459M | 597M | 688M | 861M | 711M | 615M | 1.7B | 2.0B | 1.6B | 1.1B | 1.2B | 1.3B |
| EBIT | 1.2B | 306M | 1.4B | 1.9B | 3.3B | 1.8B | 883M | 9.0B | 10.0B | 6.1B | 2.8B | 2.4B | 0 |
| Op. Margin | 5.8% | 1.9% | 8.5% | 9.2% | 13.0% | 8.1% | 4.4% | 24.8% | 24.0% | 17.6% | 9.2% | 7.5% | 0.0% |
| Net Income | 677M | 79M | 794M | 1.3B | 2.4B | 1.3B | 717M | 6.8B | 7.6B | 4.5B | 2.0B | 1.7B | 2.3B |
| Net Margin | 3.2% | 0.5% | 4.9% | 6.5% | 9.4% | 5.6% | 3.6% | 18.6% | 18.3% | 13.0% | 6.6% | 5.3% | 6.8% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 7.6% | 2.3% | 9.6% | 13.7% | 20.7% | 11.0% | 6.8% | 46.3% | 42.0% | 23.4% | 10.3% | 8.0% | 0.0% |
| ROE | 8.8% | 1.0% | 10.3% | 15.8% | 25.4% | 12.5% | 6.8% | 54.8% | 46.7% | 22.9% | 9.8% | 8.4% | 10.8% |
| ROA | 4.3% | 0.5% | 5.4% | 8.5% | 13.9% | 7.0% | 3.7% | 29.6% | 26.0% | 13.3% | 5.8% | 5.0% | 6.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.3B | 2.2B | 1.8B | 1.1B | 2.4B | 2.8B | 2.7B | 6.2B | 10.1B | 7.1B | 4.0B | 3.2B | 3.8B |
| Free Cash Flow | 675M | 1.8B | 1.1B | 607M | 1.4B | 1.3B | 1.2B | 4.6B | 8.1B | 4.9B | 806M | -188M | 532M |
| Owner Earnings | 572M | 1.4B | 1.0B | 264M | 1.6B | 2.0B | 1.8B | 5.2B | 8.9B | 5.8B | 2.5B | 1.6B | -10.5B |
| CapEx | 668M | 374M | 605M | 449M | 983M | 1.5B | 1.5B | 1.6B | 1.9B | 2.2B | 3.2B | 3.4B | 3.2B |
| Maint. CapEx | 724M | 700M | 687M | 727M | 720M | 735M | 786M | 865M | 1.1B | 1.2B | 1.4B | 1.5B | 14.1B |
| Growth CapEx | 0 | 0 | 0 | 0 | 263M | 743M | 758M | 757M | 886M | 1.0B | 1.8B | 1.9B | 0 |
| D&A | 724M | 700M | 687M | 727M | 720M | 735M | 786M | 865M | 1.1B | 1.2B | 1.4B | 1.5B | 14.1B |
| CapEx/OCF | 49.7% | 17.3% | 34.6% | 42.5% | 41.0% | 52.6% | 57.2% | 26.0% | 19.3% | 31.1% | 79.7% | 105.8% | 85.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 475M | 479M | 481M | 485M | 485M | 492M | 492M | 483M | 534M | 515M | 522M | 512M | 512M |
| Dividend Yield | 3.8% | 4.3% | 3.8% | 3.1% | 2.8% | 3.4% | 4.0% | 1.9% | 1.7% | 1.4% | 1.4% | 1.7% | 0.9% |
| Share Buybacks | 0 | 67M | 5.2M | 90M | 854M | 299M | 39M | 3.3B | 2.8B | 1.6B | 2.2B | 700M | 525M |
| Buyback Yield | N/A | 0.6% | 0.0% | 0.5% | 6.0% | 1.9% | 0.3% | 10.4% | 8.2% | 3.6% | 8.1% | 1.8% | 0.9% |
| Stock-Based Comp | 46M | 46M | 57M | 64M | 73M | 90M | 74M | 136M | 137M | 130M | 132M | 133M | 137M |
| Debt Repayment | 5.4M | 16M | 33M | 600M | 500M | 4.6M | 97M | 50M | 1.1B | 10M | 10M | 1.0B | 1.0B |
| Balance Sheet | |||||||||||||
| Net Debt | 3.5B | 2.3B | 2.2B | 2.8B | 2.9B | 2.5B | 2.4B | 3.1B | 1.9B | -195M | 2.9B | 4.5B | 4.6B |
| Cash & Equiv. | 1.0B | 1.9B | 2.0B | 949M | 1.4B | 1.5B | 2.6B | 2.4B | 4.3B | 6.4B | 3.6B | 2.3B | 2.5B |
| Long-Term Debt | 4.4B | 4.3B | 3.7B | 3.2B | 4.2B | 4.3B | 5.3B | 5.0B | 6.6B | 6.6B | 5.7B | 6.9B | 6.9B |
| Debt/Equity | 0.59 | 0.59 | 0.55 | 0.43 | 0.44 | 0.42 | 0.50 | 0.41 | 0.37 | 0.33 | 0.35 | 0.35 | 0.33 |
| Interest Coverage | 7.0 | 1.7 | 7.6 | 10.0 | 20.2 | 11.7 | 5.3 | 55.4 | 45.5 | 24.9 | 12.4 | 14.3 | 14.3 |
| Equity | 7.8B | 7.5B | 7.9B | 8.7B | 9.8B | 10.4B | 10.8B | 14.0B | 18.4B | 20.9B | 20.3B | 20.9B | 21.5B |
| Total Assets | 16.0B | 14.3B | 15.2B | 15.8B | 17.9B | 18.3B | 20.1B | 25.8B | 32.5B | 35.3B | 33.9B | 35.1B | 35.6B |
| Total Liabilities | 7.5B | 6.5B | 7.0B | 6.8B | 7.7B | 7.6B | 8.9B | 11.2B | 12.9B | 13.2B | 12.5B | 13.0B | 13.1B |
| Intangibles | 862M | 771M | 867M | 915M | 829M | 742M | 668M | 1.1B | 3.3B | 3.1B | 3.1B | 2.9B | 2.8B |
| Retained Earnings | 7.4B | 7.3B | 7.6B | 8.5B | 10.3B | 11.1B | 11.3B | 17.7B | 24.8B | 28.8B | 30.3B | 31.5B | 32.1B |
| Working Capital | 4.3B | 4.5B | 4.1B | 4.0B | 5.8B | 5.8B | 6.9B | 7.6B | 10.4B | 11.8B | 7.5B | 7.8B | 7.9B |
| Current Assets | 6.4B | 5.9B | 6.5B | 6.8B | 8.6B | 8.2B | 9.5B | 12.8B | 14.7B | 16.4B | 12.5B | 11.8B | 12.1B |
| Current Liabilities | 2.1B | 1.4B | 2.4B | 2.8B | 2.8B | 2.5B | 2.6B | 5.2B | 4.3B | 4.6B | 5.0B | 4.0B | 4.2B |
| Per Share Data | |||||||||||||
| EPS | 2.11 | 0.25 | 2.48 | 4.10 | 7.42 | 4.14 | 2.36 | 23.16 | 28.79 | 18.00 | 8.46 | 7.52 | 9.50 |
| Owner EPS | 1.78 | 4.49 | 3.14 | 0.82 | 5.05 | 6.50 | 6.05 | 17.83 | 33.72 | 23.21 | 10.44 | 7.02 | -46.10 |
| Book Value | 24.22 | 23.60 | 24.62 | 27.27 | 30.90 | 33.92 | 35.51 | 47.77 | 69.98 | 83.61 | 85.08 | 90.64 | 94.20 |
| Cash Flow/Share | 4.19 | 6.84 | 5.47 | 3.29 | 7.55 | 9.20 | 8.88 | 21.24 | 38.28 | 28.40 | 16.68 | 14.00 | 72.18 |
| Dividends/Share | 1.48 | 1.49 | 1.50 | 1.51 | 1.54 | 1.60 | 1.61 | 1.72 | 2.01 | 2.07 | 2.17 | 2.21 | 2.25 |
| Shares Out. | 320.9M | 316.8M | 320.0M | 320.5M | 316.9M | 305.3M | 303.9M | 293.4M | 263.1M | 250.4M | 238.5M | 231.0M | 227.7M |
| Valuation | |||||||||||||
| P/E Ratio | 16.9 | 128.2 | 20.2 | 13.2 | 6.0 | 12.1 | 20.3 | 4.6 | 4.4 | 9.4 | 13.6 | 22.0 | 26.1 |
| P/FCF | 17.8 | 5.7 | 14.0 | 28.6 | 10.1 | 11.5 | 12.6 | 6.8 | 4.1 | 8.7 | 34.0 | N/A | 106.0 |
| EV/EBIT | 12.2 | 42.0 | 13.4 | 10.9 | 5.4 | 9.9 | 19.3 | 3.8 | 3.6 | 7.2 | 11.5 | 18.4 | N/A |
| Price/Book | 1.6 | 1.4 | 2.0 | 2.0 | 1.5 | 1.5 | 1.4 | 2.3 | 1.8 | 2.0 | 1.4 | 1.8 | 2.6 |
| Price/Sales | 0.6 | 0.7 | 0.8 | 0.8 | 0.7 | 0.7 | 0.6 | 0.7 | 0.8 | 1.1 | 1.2 | 0.9 | 1.7 |
| FCF Yield | 5.6% | 17.3% | 7.1% | 3.5% | 9.9% | 8.7% | 7.9% | 14.6% | 24.0% | 11.5% | 2.9% | -0.5% | 0.9% |
| Market Cap | 12.0B | 10.4B | 16.1B | 17.4B | 14.3B | 15.4B | 14.6B | 31.6B | 33.8B | 42.7B | 27.5B | 38.4B | 56.4B |
| Avg. Price | 39.02 | 34.82 | 39.50 | 48.64 | 53.82 | 48.06 | 40.93 | 85.73 | 122.75 | 151.02 | 158.60 | 132.86 | 247.56 |
| Year-End Price | 37.46 | 32.06 | 50.00 | 54.18 | 44.86 | 50.08 | 47.83 | 107.30 | 127.96 | 169.88 | 114.85 | 165.78 | 247.56 |
NUCOR CORP passes 6 of 9 quality checks, suggesting mixed fundamentals.
NUCOR CORP trades at 28.3x trailing earnings, compared to its 15-year median P/E of 12.7x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 26.0% with a gross margin of 21.6%. Total shareholder yield (dividends + buybacks) is 1.8%. At current prices, the estimated annualized return to fair value is +18.9%.
NUCOR CORP (NUE) has a net profit margin of 5.3%. This is a modest margin.
NUCOR CORP (NUE) generated $-188 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
NUCOR CORP (NUE) has a debt-to-equity ratio of 0.35. This indicates a conservatively financed balance sheet.
NUCOR CORP (NUE) reported earnings per share (EPS) of $7.52 in its most recent fiscal year.
NUCOR CORP (NUE) has a return on equity (ROE) of 8.4%. This indicates moderate shareholder returns.
NUCOR CORP (NUE) has a 5-year average gross margin of 21.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for NUCOR CORP (NUE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NUCOR CORP (NUE) has a book value per share of $90.64, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects domestic steel demand to be stable to slightly up in 2026, with shipments projected to grow more than 5% as the company benefits from strong nonresidential construction, infrastructure, data center, energy, and border fence demand. Backlogs reached historically high levels entering 2026, with steel mills backlog up 40% year-over-year and steel products backlog up 15%, supporting higher volumes and improving margins as realized pricing catches up with rising substrate costs. The company expects meaningful free cash flow improvement in 2026 driven by lower capital expenditures (moderating from elevated levels), incremental EBITDA from recently completed and ramping projects, and improved market conditions, while continuing to return approximately 40% of earnings to shareholders through dividends and repurchases. Multiple growth projects are advancing toward profitability, including the West Virginia sheet mill expected to begin commercial shipments in early 2027, with the company positioned to deliver significantly higher earnings and cash flow in 2026 compared to 2025.
Based on recent SEC filings and earnings calls, NUCOR CORP (NUE) has provided the following forward guidance: Steel mill shipments growth: approximately 5% (FY2026); Shipments growth: more than 5% (FY2026); Domestic steel demand: flat to up 2% (FY2026); Capital expenditures: $2.5 billion (FY2026).
No recent press releases.