NUCOR
NUE · NYSESteel Works, Blast Furnaces & Rolling Mills (Coke Ovens) · Fiscal year ends Dec 31
NUCOR reported revenue of $32.5B in the fiscal year ended Dec 2025, up 5.7% from the year before. Net income was $1.7B. Operating cash flow of $3.2B less capital expenditure of $3.4B left free cash flow of −$188M. Net debt was $4.7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $36.5B | $41.5B | $34.7B | $30.7B | $32.5B |
| Cost of revenue | $25.5B | $29B | $26.9B | $26.6B | $28.6B |
| Gross profit | $11B | $12.5B | $7.8B | $4.1B | $3.9B |
| Selling, general & admin | $1.7B | $2B | $1.6B | $1.1B | $1.2B |
| Interest expense | $163M | $219M | $246M | $228M | $170M |
| Pre-tax income | $9.2B | $10.2B | $6.3B | $2.9B | $2.6B |
| Income tax | $2.1B | $2.2B | $1.4B | $583M | $530M |
| Net income | $6.8B | $7.6B | $4.5B | $2B | $1.7B |
| Diluted EPS | 23.16 | 28.79 | 18.00 | 8.46 | 7.52 |
| Diluted shares | 293M | 263M | 250M | 239M | 231M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $2.4B | $4.3B | $6.4B | $3.6B | $2.3B |
| Receivables | $3.9B | $3.6B | $3B | $2.7B | $3.1B |
| Inventory | $6B | $5.5B | $5.6B | $5.1B | $5.5B |
| Current assets | $12.8B | $14.7B | $16.4B | $12.5B | $11.8B |
| Net PP&E | $8.1B | $9.6B | $11.1B | $13.2B | $15.3B |
| Goodwill | $2.8B | $3.9B | $4B | $4.3B | $4.3B |
| Total assets | $25.8B | $32.5B | $35.3B | $33.9B | $35.1B |
| Payables | $2B | $1.6B | $2B | $1.8B | $1.9B |
| Deferred revenue | $252M | $285M | $314M | $200M | $243M |
| Current liabilities | $5.2B | $4.3B | $4.6B | $5B | $4B |
| Short-term debt | $601M | $10M | $60M | $1B | $66M |
| Long-term debt | $5B | $6.6B | $6.6B | $5.7B | $6.9B |
| Total liabilities | $11.2B | $12.9B | $13.2B | $12.5B | $13B |
| Shareholders' equity | $14B | $18.4B | $20.9B | $20.3B | $20.9B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $6.2B | $10.1B | $7.1B | $4B | $3.2B |
| Capital expenditure | $1.6B | $1.9B | $2.2B | $3.2B | $3.4B |
| Free cash flow | $4.6B | $8.1B | $4.9B | $806M | −$188M |
| Depreciation & amortisation | $735M | $827M | $931M | $1.1B | $1.2B |
| Stock-based compensation | $136M | $137M | $130M | $132M | $133M |
| Acquisitions | $1.4B | $3.6B | $71M | $758M | $2M |
| Share buybacks | $3.3B | $2.8B | $1.6B | $2.2B | $700M |
| Dividends paid | $483M | $534M | $515M | $522M | $512M |
| Dividend per share | 1.72 | 2.01 | 2.07 | 2.17 | 2.21 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 13.8% | −16.4% | −11.5% | 5.7% |
| EPS growth (YoY) | – | 24.3% | −37.5% | −53.0% | −11.1% |
| Gross margin | 30.2% | 30.1% | 22.5% | 13.3% | 11.9% |
| Net margin | 18.7% | 18.3% | 13.0% | 6.6% | 5.4% |
| Return on equityBlank when equity is negative | 48.7% | 41.3% | 21.6% | 10.0% | 8.3% |
| Free cash flow margin | 12.6% | 19.6% | 14.1% | 2.6% | −0.6% |
| Cash conversion (CFO ÷ net income) | 0.91x | 1.32x | 1.57x | 1.96x | 1.85x |
| Receivable days | 39 | 32 | 31 | 32 | 35 |
| Inventory days | 86 | 69 | 76 | 70 | 70 |
| Payable days | 28 | 21 | 27 | 25 | 24 |
| Debt ÷ equity | 0.40x | 0.36x | 0.32x | 0.33x | 0.33x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $3.2B | $2.3B | $326M | $3.2B | $4.7B |
| Current ratio | 2.48x | 3.39x | 3.57x | 2.51x | 2.94x |
Recent filings
More in Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.