公司概述
Nucor Corporation is a primary manufacturer and seller of steel and steel products, operating through three distinct segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment specifically produces hot-rolled, cold-rolled, and galvanized sheet steel products, as well as plate steel products and wide-flange beams. This enterprise operates within the Basic Materials sector and the Steel industry, positioning it as a critical supplier of essential industrial infrastructure components. With a market capitalization of $39.46 billion and annual revenue reaching $32.49 billion, Nucor commands significant scale in the global commodities market. The company employs approximately 33,000 individuals to support its extensive production capabilities. These valuation and revenue figures indicate that Nucor maintains a substantial footprint in the basic materials landscape, reflecting its status as a major player with substantial operational capacity and market influence.
财务健康
Nucor Corporation reported a trailing twelve-month revenue of $32.49 billion, generating net income of $1.74 billion and EBITDA of $4.14 billion. The substantial gap between the revenue figure and the net income reveals a significant cost structure burden, where operating expenses, including cost of goods sold and administrative costs, consume over 94% of top-line sales before arriving at the bottom line profit. However, the company's free cash flow stands at -$903,374,976, indicating a period where capital expenditures and other cash outflows exceeded operating cash generation, which suggests temporary constraints on immediate financial flexibility despite strong earnings. The company's profitability is characterized by a gross margin of 12.0%, an operating margin of 6.9%, and a profit margin of 5.4%, which collectively indicate that the firm retains a moderate portion of sales revenue after covering variable and fixed costs. In terms of balance sheet strength, Nucor holds $2.70 billion in cash against $7.25 billion in debt, resulting in a debt-to-equity ratio of 32.77, which points to a leveraged capital structure typical for capital-intensive steel manufacturing. Despite the leverage, the current ratio of 2.94 demonstrates robust short-term liquidity, suggesting the company possesses more than enough current assets to cover its current liabilities comfortably. Furthermore, the return on equity of 9.4% and return on assets of 4.8% reveal that management generates moderate returns relative to the shareholders' equity and total asset base, respectively.
估值评估
The stock carries a trailing P/E ratio of 23.04 and a forward P/E of 12.70, where the significant difference between these two metrics implies that the market expects a substantial acceleration in future earnings relative to current levels. The price-to-book ratio is recorded at 1.89, indicating that the market values the company at nearly double its book value, reflecting a premium assigned to its operational assets and brand intangibles. Alternative valuation metrics such as the price-to-sales ratio of 1.21 and an EV/EBITDA of 10.92 provide additional context, suggesting the stock is priced at roughly one dollar of sales per dollar of revenue and at a valuation multiple of roughly eleven times its adjusted earnings before interest, taxes, depreciation, and amortization. Regarding trading ranges, the 52-week high is $196.90 and the 52-week low is $101.55, though the specific current trading price is not explicitly listed in the provided data, the forward P/E of 12.70 is notably lower than the trailing P/E of 23.04, hinting at a potential re-rating toward the upper end of the historical range if earnings expectations are met. The beta value of 1.75 indicates that the stock exhibits high price volatility, moving significantly more than the broader market in response to economic or sector-specific news.
Growth & Income
Revenue growth for the trailing twelve months stands at 8.6%, while earnings growth is reported at 34.2%, demonstrating that earnings are expanding at a rate far faster than revenue. This divergence implies improved operational efficiency, favorable cost dynamics, or a shift toward higher-margin product mixes within the Steel Mills and Steel Products segments. As a dividend payer, Nucor offers a dividend yield of 1.3% with a payout ratio of 29.4%, which suggests the dividend is highly sustainable given the company's robust earnings growth and strong free cash flow generation potential. The low payout ratio allows the company to retain the majority of earnings for reinvestment in capacity expansion, technology upgrades, and debt reduction, thereby fueling long-term growth rather than prioritizing immediate income distribution.