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Commercial Metals (CMC) earnings and revenue breakdown

Latest: Q4 FY26 · 10-K filed Oct 16, 2026 · Commercial Metals (CMC) Q4 FY26 earnings results →

Q4 FY26 Revenue up 26% year over year to $2.7B · 8¢ of every $1 of revenue kept as net profit · operating margin 8.6%

Commercial Metals made $2.7B in Q4 FY26 (+26% Y/Y). Operating margin 8.6%, net earnings $213M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Oct 16, 2026.

Revenue$2.7B
Year over year+26%
Operating margin8.6%
Net earnings$213M
Operating cash flow$456M

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Commercial Metals Q4 FY26 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Commercial Metals Q4 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.7B in Q4 FY26, up 26% year over year and up 7% from the previous quarter.

Operating profit was $0.23B, a 8.6% margin (down 0.5 points year over year). Of the extra revenue versus Q4 FY25, 7% reached operating profit, below the 9% margin then. Total costs grew 26% against revenue growth of 26%. The fastest-growing cost line was Other operating costs (+100%). Net earnings were $0.21B, up 40% year over year. The effective tax rate was 7.4%.

Operating cash flow was $0.46B (up 45% year over year), 215% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.12B. Capital expenditures of $0.18B left free cash flow of $0.28B.

Quarterly history

Commercial Metals revenue by quarterCommercial Metals revenue by quarter$1.8BQ2 FY25$2.0BQ3 FY25$2.1BQ4 FY25$2.1BQ1 FY26$2.1BQ2 FY26$2.5BQ3 FY26$2.7BQ4 FY26
Commercial Metals net earnings by quarterCommercial Metals net earnings by quarter$25.5MQ2 FY25$83.1MQ3 FY25$152MQ4 FY25$177MQ1 FY26$93.0MQ2 FY26$173MQ3 FY26$213MQ4 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY2610-KOct 16, 2026$2.7B+26%8.6%$213M$456M
Q3 FY2610-QJun 29, 2026$2.5B+23%7.6%$173M$233M
Q2 FY2610-QMar 31, 2026$2.1B+22%5.1%$93.0M$166M
Q1 FY2610-QJan 8, 2026$2.1B+11%8.6%$177M$204M
Q4 FY2510-KOct 16, 2025$2.1B+6%9.1%$152M$315M
Q3 FY2510-QJun 24, 2025$2.0B-3%5.4%$83.1M$154M
Q2 FY2510-QMar 25, 2025$1.8B-5%2.1%$25.5M$32.4M

Charts

Commercial Metals: revenue growth, year over year and quarter over quarterCommercial Metals: revenue growth, year over year and quarter over quarterY/YQ/Q-5%Q2 FY25-3%+15%Q3 FY25+6%+5%Q4 FY25+11%+0%Q1 FY26+22%+1%Q2 FY26+23%+16%Q3 FY26+26%+7%Q4 FY26
Latest (Q4 FY26): Y/Y +26%, Q/Q +7%.
Commercial Metals: where the cash came from (+) and went (−), FY26Commercial Metals: where the cash came from (+) and went (−), FY26Acquisitions−$2.5BNet borrowing (+) / repaid (−)$2.1BOperating cash flow$1.1BCapital spending−$580MCash drawn (+) / kept (−)$267MOther financing−$135MBuybacks−$103MDividends−$84.2MOther investing$22.9MAsset & business sales$11.2MTaxes on employees’ shares−$3.1MExchange rates$66K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Commercial Metals: profit against cash, quarter by quarterCommercial Metals: profit against cash, quarter by quarterNet incomeOperating cash flow−$176M$213MQ1 FY25$25.5M$32.4MQ2 FY25$83.1M$154MQ3 FY25$152M$315MQ4 FY25$177M$204MQ1 FY26$93.0M$166MQ2 FY26$173M$233MQ3 FY26$213M$456MQ4 FY26
Latest (Q4 FY26): Net income $213M, Operating cash flow $456M.
Commercial Metals: diluted shares by fiscal yearCommercial Metals: diluted shares by fiscal year122MFY21122MFY22119MFY23117MFY24114MFY25112MFY26
-8.3% since FY21: buybacks shrank the count.
Commercial Metals: long-term debt falling due (FY26)Commercial Metals: long-term debt falling due (FY26)$10.5M2027$1.9M2028$1.9M2029$302M2030$301M2031$2.6BLater
Cash $779M, short-term investments —, long-term debt $3.2B at 2026-08-31.
Commercial Metals in its industry: growth against margin (7 companies, SIC 3312)Commercial Metals in its industry: growth against margin (7 companies, SIC 3312)revenue growth, year over year →↑ operating marginmedian +10%median 10%NUESTLDCRSSXCMTUSTWICMC (+26%, 9%)
Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Commercial Metals

This annual report on Form 10-K (hereinafter referred to as the "Annual Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the Private Securities Litigation Reform Act of 1995. Actual results, performance or achievements could differ materially from those projected in the forward-looking statements as a result of a number of risks, uncertainties and other factors.

In its own words, from its 10-K, filed Oct 16, 2026.

Commercial Metals against its Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +10%. Operating margin: 8.6% against the peers' median 9.6%.

CompanyQuarterRevenueY/YOp. margin
CMC Commercial MetalsQ4 FY26$2.7B+26%8.6%
NUE NucorQ3 2026$11.2B+32%15.2%
STLD Steel DynamicsQ3 2026$6.5B+35%15.5%
CRS Carpenter TechnologyQ1 FY27$798M+9%24.6%
SXC SunCoke EnergyQ3 2026$486M-0.2%8.4%
MTUS MetallusQ3 2026$337M+10%9.6%
TWI Titan InternationalQ3 2026$335M-6%-0.3%

Source: Commercial Metals 10-K on SEC EDGAR · CIK 22444 · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)

13F: who owns CMC and who is buying

Largest holders of CMC (13F)Largest holders of CMC (13F)BlackRock$955MVanguard Group$778MState Street$434MDimensional Fund Advisors LP$423MFMR LLC$380MVanguard Portfolio Management LLC$367MVanguard Capital Management LLC$313MBoston Partners$235MGeode Capital Management, LLC$193MInvesco$155M
Funds' net buying of CMC by quarter (13F)Funds' net buying of CMC by quarter (13F)−$29.0M2024-09−$57.0M2024-12$82.0M2025-03−$42.7M2025-06−$146K2025-09$193M2025-12−$155M2026-03−$106M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CMC

History

Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results

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中文版：Commercial Metals（CMC）财报

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