Commercial Metals (CMC) financial statements
Commercial Metals reported revenue of $7.8B in fiscal 2025, up 9.0% a year over 9 years.
Net income was $85M and the operating margin 1.4%, against 2.1% in 2016.
Free cash flow was $312M, and the company returned $81M in dividends and $199M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Commercial Metals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.6B | $3.8B | $4.6B | $5.8B | $5.5B | $6.7B | $8.9B | $8.8B | $7.9B | $7.8B |
| Cost of revenue | $3.0B | $3.3B | $4.0B | $5.0B | $4.5B | $5.6B | $7.1B | $7.0B | $6.6B | $6.6B |
| Gross profit | $574M | $521M | $622M | $803M | $945M | $1.1B | $1.9B | $1.8B | $1.4B | $1.2B |
| Selling, general and admin | $384M | $387M | $401M | $463M | $507M | $505M | $545M | $646M | $668M | $700M |
| Operating income | $76M | $65M | $165M | $268M | $371M | $534M | $1.5B | $1.1B | $636M | $108M |
| Interest expense | $63M | $44M | $41M | $71M | $62M | $52M | $51M | $40M | $48M | — |
| Pre-tax income | $76M | $65M | $165M | $268M | $371M | $534M | $1.5B | $1.1B | $636M | $108M |
| Income tax | $14M | $15M | $30M | $70M | $92M | $121M | $298M | $262M | $150M | $23M |
| Net income | $55M | $46M | $139M | $198M | $280M | $413M | $1.2B | $860M | $485M | $85M |
| EPS (diluted) | $0.47 | $0.39 | $1.17 | $1.66 | $2.32 | $3.38 | $9.95 | $7.25 | $4.14 | $0.74 |
| Diluted shares | 117M | 117M | 118M | 119M | 120M | 122M | 122M | 119M | 117M | 114M |
| Gross margin | 16.0% | 13.6% | 13.4% | 13.8% | 17.3% | 16.4% | 20.8% | 20.6% | 17.1% | 15.6% |
| Operating margin | 2.1% | 1.7% | 3.6% | 4.6% | 6.8% | 7.9% | 17.0% | 12.8% | 8.0% | 1.4% |
| Net margin | 1.5% | 1.2% | 3.0% | 3.4% | 5.1% | 6.1% | 13.7% | 9.8% | 6.1% | 1.1% |
Balance sheet
Fiscal years, from Commercial Metals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $518M | $253M | $622M | $192M | $542M | $498M | $673M | $592M | $858M | $1.0B |
| Receivables | $689M | $561M | $749M | $1.0B | $881M | $1.1B | $1.4B | $1.2B | $1.2B | $1.2B |
| Inventory | $540M | $463M | $589M | $692M | $625M | $935M | $1.2B | $1.0B | $972M | $934M |
| Total current assets | $2.0B | $1.7B | $2.1B | $2.1B | $2.2B | $2.7B | $3.4B | $3.1B | $3.3B | $3.5B |
| Property, plant and equipment | $895M | $1.1B | $1.1B | $1.5B | $1.6B | $1.6B | $1.9B | $2.4B | $2.6B | $2.7B |
| Goodwill | $66M | $65M | $64M | $64M | $64M | $66M | $249M | $386M | $386M | $387M |
| Total assets | $3.1B | $3.0B | $3.3B | $3.8B | $4.1B | $4.6B | $6.2B | $6.6B | $6.8B | $7.2B |
| Total current liabilities | $821M | $608M | $542M | $695M | $745M | $980M | $1.4B | $844M | $835M | $1.3B |
| Long-term debt | $758M | $806M | $1.1B | $1.2B | $1.1B | $1.0B | $1.1B | $1.1B | $1.2B | $1.3B |
| Total liabilities | $1.8B | $1.6B | $1.8B | $2.1B | $2.2B | $2.3B | $3.0B | $2.5B | $2.5B | $3.0B |
| Shareholders' equity | $1.4B | $1.4B | $1.5B | $1.6B | $1.9B | $2.3B | $3.3B | $4.1B | $4.3B | $4.2B |
| Net debt | $218M | $520M | $506M | $1.0B | $539M | $569M | $823M | $559M | $330M | $308M |
Cash flow
Fiscal years, from Commercial Metals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $587M | -$523M | -$434M | $37M | $791M | $228M | $700M | $1.3B | $900M | $715M |
| Capital spending | $163M | $213M | $175M | $139M | $188M | $184M | $450M | $607M | $324M | $403M |
| Free cash flow | $424M | -$736M | -$609M | -$102M | $604M | $44M | $250M | $737M | $575M | $312M |
| Stock-based compensation | $26M | $30M | $24M | $25M | $32M | $44M | $47M | $61M | $45M | $37M |
| Dividends paid | $55M | $56M | $56M | $57M | $57M | $58M | $68M | $75M | $79M | $81M |
| Share buybacks (net) | -$31M | $0 | $0 | — | $0 | $0 | -$162M | -$101M | -$183M | -$199M |
| Net borrowing | -$231M | -$236M | $330M | $341M | $50M | $237M | $855M | -$60M | $139M | $142M |
| Free cash flow margin | 11.8% | -19.2% | -13.1% | -1.7% | 11.0% | 0.7% | 2.8% | 8.4% | 7.3% | 4.0% |
| Dividends per share | $0.47 | $0.47 | $0.47 | $0.47 | $0.47 | $0.47 | $0.55 | $0.63 | $0.67 | $0.71 |
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Open CMC in InvestinglyQuestions
What was Commercial Metals's revenue in 2025?
$7.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does Commercial Metals generate?
$312M in fiscal 2025 (operating cash flow minus capital spending).
From Commercial Metals's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.