YouTube · Q2 2026 · 2026-07-21
CMC · NYSE
Commercial Metals Company
Metal Fabrication · United States
USD 65.862.9% daily changeQuote 2026-11-02 · USD
- Market cap (USD)
- US$7.27B
- Trailing P/E
- 10.92x
- Forward P/E
- 9.43x
- Quarterly revenue growth
- 25.7%
- Trailing net margin
- 7.0%
- Indicated dividend yield
- 1.2%
Snapshot 2026-11-03 · Latest financial period 2026-08-31 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-07 (provider estimate; issuer confirmation unavailable here).
Company background
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through three segments: North America Steel Group, Construction Solutions Group, and Europe Steel Group. The company processes and sells ferrous and nonferrous scrap metals. It also offers finished long steel products, including reinforcing bars, merchant bars, light structural and other special sections, and wire rods, as well as semi-finished billets for rerolling and forging applications. In addition, the company provides fabricated rebar used to reinforce concrete; sells and rents construction-related products and equipment; and manufactures and sells strength and armor plates. Further, it sells wire meshes, welded steel mesh, wire rod, cold rolled rebar, cold rolled wire rod, assembled rebar cages and other fabricated rebar by-products. The company was founded in 1915 and is headquartered in Irving, Texas.
Company websiteQ4 FY2026
Go beyond the headline.
CMC Stock: Stronger Steel, But Can the New Portfolio Pay? — Q4 FY2026
Published 2026-10-15
Short takes Q4 FY2026
CMC Stock: Steel Improved, Precast Missed — Q4 FY2026 #Shorts
Watch Short on YouTube
Q4 FY2026 REPORT HIGHLIGHTS
What’s changed for CMC
CMC delivered stronger steel margins and cash flow, but precast softness, normalized taxes and acquisition debt keep our call at Hold with a $70 base value.
Steel is carrying the improvement.
North America adjusted EBITDA reached $317.5M as metal margins widened to $652 per ton.
Acquisitions change the comparison.
Precast added $57M EBITDA but missed expectations; residual CSG EBITDA was $44.7M, below last year.
EPS needs a tax adjustment in the model.
Q4 effective tax was 7.4%; our 23% sensitivity lowers the same pretax earnings to about $1.58 per share.
Cash improved, but the acquisition bill remains.
Fiscal FCF was $479.1M against $2.6B ordinary net debt and a separate litigation reserve.
The quote already assumes progress.
Our $70 base and $67.50 weighted value leave little cushion at $67.93; Hold, conviction 3/5.
Comparable businesses
CMC peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | CMCCommercial Metals CompanySnapshot 2026-11-03Financial period: 2026-08-31 | MLIMueller Industries, Inc.Snapshot 2026-11-03Financial period: 2026-09-26 | CRSCarpenter Technology CorporationSnapshot 2026-11-03Financial period: 2026-09-30 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$7.27B | US$12.02B | US$14.41B | US$13.22Bn=2 |
| Forward P/EProvider forward earnings estimate | 9.43x | 11.86x | 18.21x | 15.04xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 7.96x | 9.55x | 17.15x | 13.35xn=2 |
| Revenue growthLatest quarter vs prior-year quarter | 25.7% | 31.6% | 8.8% | 20.2%n=2 |
| Operating marginLatest reported quarter | 8.8% | 19.5% | 24.7% | 22.1%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | 1.1% | 4.5% | 1.5% | 3.0%n=2 |
| Net debt / EBITDANet debt / trailing EBITDA | 2.24x | -1.31x | 0.62x | -0.35xn=2 |
| Debt / equityTotal debt / positive book equity | 0.77x | 0.01x | 0.32x | 0.16xn=2 |
| Trailing P/ETrailing twelve-month earnings | 10.92x | 14.00x | 24.95x | 19.48xn=2 |
| Price / bookPrice / positive book equity per share | 1.55x | 0.34x | 6.60x | 3.47xn=2 |
| EV / salesEnterprise value / trailing revenue | 1.07x | 2.12x | 4.69x | 3.40xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | 41.6% | 6.4% | 33.7% | 20.1%n=2 |
| Gross marginTrailing twelve months | 18.6% | 27.3% | 31.2% | 29.2%n=2 |
| Net marginTrailing twelve months | 7.0% | 17.3% | 17.9% | 17.6%n=2 |
| Return on equityProvider trailing return; positive equity only | 14.8% | 26.3% | 27.8% | 27.0%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | 0.8% | 10.7% | 6.6% | 8.7%n=2 |
| Dividend yieldIndicated annual dividend / price | 1.2% | 1.3% | 0.3% | 0.8%n=2 |
| Earnings payoutProvider trailing dividend payout | 13.0% | 16.7% | 7.0% | 11.9%n=2 |
| Current ratioCurrent assets / current liabilities | 2.34x | 4.39x | 3.94x | 4.17xn=2 |
| BetaProvider historical market sensitivity | 1.54 | 1.02 | 1.41 | 1.21n=2 |
YouTube · Q2 2026 · 2026-07-21
YouTube · Q4 FY2026 · 2026-08-03
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-03. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for CMC
Q4 FY20262026-10-15
FREE RESEARCH PACKET · Q4 FY2026
CMC: Steel Is Stronger. The New Portfolio Still Has to Earn Its Price.
CMC delivered stronger steel margins and cash flow, but precast softness, normalized taxes and acquisition debt keep our call at Hold with a $70 base value.
Research published October 15, 2026 · Download original report
Read Research PacketCMC Stock: Stronger Steel, But Can the New Portfolio Pay? — Q4 FY2026
Presentation · 2026-10-15 · YouTube
Short takes Q4 FY2026
CMC Stock: Steel Improved, Precast Missed — Q4 FY2026 #Shorts
Watch Short on YouTube