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Nucor
(NYSE:NUE)
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Rating:75Outperform
Price Target:
$290.00
â–²(17.15% Upside)
Action:Reiterated
Date:10/27/26
The score is driven mainly by improving financial performance supported by a strong balance sheet and a very positive earnings call highlighting record shipments, strong free cash flow, and constructive guidance into 2027. Technicals also support the view with an established uptrend. Valuation is the main restraint due to a mid-teens P/E and a low dividend yield for a cyclical steel name.
Positive Factors
Shipment and earnings recovery
Record shipments and improving revenue and margins show stronger operating momentum across Nucor’s core businesses. Higher volumes and pricing can reinforce scale benefits, support customer relationships, and provide a durable earnings base as demand remains healthy.
Negative Factors
Cyclical profitability
Nucor’s recent rebound has not restored peak-cycle earnings power, and historical margin volatility remains a fundamental constraint. Steel prices, demand, and input costs can materially change profitability, making sustained earnings progression less predictable over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Shipment and earnings recovery
Record shipments and improving revenue and margins show stronger operating momentum across Nucor’s core businesses. Higher volumes and pricing can reinforce scale benefits, support customer relationships, and provide a durable earnings base as demand remains healthy.
Read all positive factors
Nucor Key Performance Indicators (KPIs)
Any
Earnings Before Tax by Segment
Highlights profitability across different business segments, indicating which areas are driving earnings and where there might be challenges or opportunities for growth.
Highlights profitability across different business segments, indicating which areas are driving earnings and where there might be challenges or opportunities for growth.
Data provided by:
The Fly
The FlyNucor (NUE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$61.44B
Dividend Yield0.83%
Average Volume (3M)1.25M
Price to Earnings (P/E)17.2
Beta (1Y)1.25
Revenue Growth17.19%
EPS Growth126.38%
CountryUS
Employees33,000
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)12.55
Shares Outstanding226,875,670
10 Day Avg. Volume1,137,230
30 Day Avg. Volume1,249,754
Financial Highlights & Ratios
PEG Ratio-1.95
Price to Book (P/B)1.80
Price to Sales (P/S)1.16
P/FCF Ratio-200.16
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue1.55
Enterprise Value/Gross Profit10.03
Enterprise Value/Ebitda9.72
Forecast
1Y Price Target
$291.50Price Target Upside17.75% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)19.15
Revenue Forecast (FY)$40.78B
Nucor Business Overview & Revenue Model
Company Description
Nucor Corporation is a prominent producer and distributor of steel and diverse steel-related products. Within its Steel Mills division, the company manufactures a comprehensive range of steel goods. These include various sheet steel types like hot...
How the Company Makes Money
Nucor makes money primarily by manufacturing and selling steel and steel-based products, with revenue largely driven by shipment volumes and realized selling prices across its operating segments.
1) Steel mills (primary revenue engine): Nucor sel...
Nucor Earnings Call Summary
Earnings Call Date:Oct 26, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 01, 2027
Earnings Call Sentiment Positive
The call was strongly positive, led by the strongest quarter in more than three years, record steel mill shipments, expanding margins in steel products, robust free cash flow, growing contributions from recent investments, durable demand across multiple end markets, and an optimistic 2027 outlook. Offsetting factors included lower raw materials earnings, higher conversion and startup costs, seasonal fourth-quarter shipment pressure, rising recent imports, and the timing of automotive qualifications. The positive operational, financial, and market commentary significantly outweighed the stated challenges.Positive Updates
Strongest Quarter in More Than Three Years
Nucor delivered approximately $2.3 billion of EBITDA and third-quarter earnings of $5.80 per share. Net earnings were $1.3 billion, exceeding the midpoint of guidance by roughly 3.5%, primarily due to higher-than-expected shipments and higher average selling prices in the steel mills segment.
Negative Updates
Raw Materials Earnings Decline
The raw materials segment generated $105 million of pre-tax earnings, down from $146 million in the prior quarter, reflecting lower pricing and shipments.
Read all updates
Q3-2026 Updates
Positive
Negative
Strongest Quarter in More Than Three Years
Nucor delivered approximately $2.3 billion of EBITDA and third-quarter earnings of $5.80 per share. Net earnings were $1.3 billion, exceeding the midpoint of guidance by roughly 3.5%, primarily due to higher-than-expected shipments and higher average selling prices in the steel mills segment.
Read all positive updates
Company Guidance
Nucor expects steel mill shipments growth to finish closer to the higher end of its 5%-10% range for 2026, with consolidated fourth-quarter earnings in line with or modestly higher than the third quarter; steel mills and steel products earnings are expected to be stable, raw materials earnings slightly lower, and lower intersegment profit eliminations should reduce corporate and elimination expense relative to the third quarter. Full-year capital expenditures are expected to finish at or slightly below the original $2.5 billion estimate, CapEx is expected to decline further in 2027, and Nucor remains committed to returning at least 40% of net earnings to shareholders on an annual basis. West Virginia is expected to reach a 50% utilization target by the end of 2027, with startup costs in 2027 at levels similar to or higher than those in 2026; Berkeley’s new gal line is expected to reach 50% utilization in the second quarter of next year, full run rate by the end of 2027, and add 500,000 tons of annual galvanizing capacity. Nucor expects long-term annual EBITDA from towers and structures to reach approximately $200 million, and fully expects that 2027 will be even stronger.Nucor Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.10B | 32.49B | 30.73B | 34.71B | 41.51B | 36.48B |
| Gross Profit | 5.58B | 3.88B | 4.10B | 7.82B | 12.50B | 11.03B |
| EBITDA | 5.76B | 4.22B | 4.49B | 7.69B | 11.57B | 10.23B |
| Net Income | 2.88B | 1.74B | 2.03B | 4.52B | 7.61B | 6.83B |
Balance Sheet | ||||||
| Total Assets | 36.95B | 35.10B | 33.94B | 35.34B | 32.48B | 25.82B |
| Cash, Cash Equivalents and Short-Term Investments | 2.69B | 2.70B | 4.14B | 7.13B | 4.86B | 2.62B |
| Total Debt | 7.10B | 7.12B | 6.95B | 6.84B | 6.69B | 5.68B |
| Total Liabilities | 13.69B | 12.98B | 12.52B | 13.22B | 12.91B | 11.22B |
| Stockholders Equity | 22.11B | 20.94B | 20.29B | 20.94B | 18.41B | 14.02B |
Cash Flow | ||||||
| Free Cash Flow | 1.58B | -188.00M | 806.00M | 4.90B | 8.12B | 4.61B |
| Operating Cash Flow | 4.42B | 3.23B | 3.98B | 7.11B | 10.07B | 6.23B |
| Investing Cash Flow | -2.46B | -3.23B | -3.73B | -2.50B | -5.70B | -2.87B |
| Financing Cash Flow | -1.42B | -1.31B | -3.06B | -2.59B | -2.51B | -3.60B |
Nucor Technical Analysis
Positive
247.55
Price Trends
252.11
Positive
249.78
Positive
220.97
Positive
Market Momentum
2.67
Negative
54.52
Neutral
53.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NUE, the sentiment is Positive. The current price of 247.55 is below the 20-day moving average (MA) of 251.26, below the 50-day MA of 252.11, and above the 200-day MA of 220.97, indicating a bullish trend. The MACD of 2.67 indicates Negative momentum. The RSI at 54.52 is Neutral, neither overbought nor oversold. The STOCH value of 53.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NUE.
Nucor Risk Analysis
Nucor disclosed 17 risk factors in its most recent earnings report. Nucor reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nucor Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $35.10B | 18.13 | 20.97% | 0.85% | 26.00% | 79.81% | |
75 Outperform | $61.44B | 17.21 | 16.47% | 0.83% | 17.19% | 126.38% | |
69 Neutral | $7.00B | 10.76 | 14.62% | 1.23% | 20.46% | 658.36% | |
64 Neutral | $45.13B | 25.40 | 3.31% | 1.19% | 3.25% | -27.63% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | $15.25B | 15.49 | 2.39% | 2.97% | -3.30% | 164.60% | |
55 Neutral | $7.93B | -15.62 | -8.14% | 6.42% | 8.10% | 75.20% |
* Basic Materials Sector Average
NUE
Nucor
270.79
120.56
80.25%
MT
ArcelorMittal
61.11
21.80
55.44%
CLF
Cleveland-Cliffs
13.90
-0.19
-1.35%
CMC
Commercial Metals Company
63.61
3.83
6.41%
PKX
POSCO
52.00
-4.17
-7.42%
STLD
Steel Dynamics
246.80
87.44
54.87%
Nucor Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Nucor Reports Strong Third-Quarter 2026 Earnings Growth
Positive
Oct 26, 2026
On October 26, 2026, Nucor reported third-quarter 2026 consolidated net earnings attributable to stockholders of $1.32 billion, or $5.80 per diluted share, on net sales of $11.25 billion, with EBITDA of $2.28 billion and net earnings before noncon...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Nucor posts strong Q2 2026 earnings and outlook
Positive
Jul 27, 2026
On July 27, 2026, Nucor reported second quarter 2026 consolidated net earnings attributable to stockholders of $1.16 billion, or $5.04 per diluted share, on net sales of $10.40 billion, with adjusted net earnings of $1.11 billion, or $4.84 per sha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.