Commercial Metals Company (CMC) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Steel
EV/EBITDA
↑
10.48
↑+73% vs avg
5yr avg: 6.07
30Y Low3.9·High27.2
P/FCF
↓
26.06
↓-14% vs avg
5yr avg: 30.13
30Y Low2.9·High89.8
P/B Ratio
↓
1.99
↑+26% vs avg
5yr avg: 1.58
30Y Low1.0·High2.3
ROE
↓
2.0%
↑-90% vs avg
5yr avg: 20.0%
30Y Low-15%·High44%
Debt/EBITDA
↑
1.68
↑+37% vs avg
5yr avg: 1.23
30Y Low0.7·High14.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CMC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Commercial Metals Company trades at 99.0x earnings, 341% above its 5-year average of 22.5x, sitting at the 100th percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.4x, the stock trades at a premium of 324%. On a free-cash-flow basis, the stock trades at 26.1x P/FCF, 14% below the 5-year average of 30.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.1B | $6.6B | $6.3B | $6.7B | $5.0B | $4.0B | $2.5B | $1.9B | $2.6B | $2.2B | $1.8B |
| Enterprise Value | $8.4B | $6.9B | $6.6B | $7.2B | $5.8B | $4.6B | $3.1B | $2.9B | $3.1B | $2.8B | $2.4B |
| P/E Ratio → | 99.04 | 77.93 | 12.94 | 7.76 | 4.07 | 9.65 | 9.00 | 9.44 | 18.46 | 48.44 | 33.02 |
| P/S Ratio | 1.04 | 0.84 | 0.79 | 0.76 | 0.56 | 0.59 | 0.46 | 0.32 | 0.55 | 0.58 | 0.50 |
| P/B Ratio | 1.99 | 1.57 | 1.46 | 1.62 | 1.51 | 1.73 | 1.33 | 1.15 | 1.71 | 1.58 | 1.32 |
| P/FCF | 26.06 | 21.07 | 10.91 | 9.05 | 19.80 | 89.80 | 4.16 | — | — | — | 4.27 |
| P/OCF | 11.38 | 9.20 | 6.98 | 4.97 | 7.08 | 17.42 | 3.17 | 50.45 | 16.08 | 12.71 | 3.08 |
P/E links to full P/E history page with 30-year chart
CMC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Commercial Metals Company's enterprise value stands at 10.5x EBITDA, 73% above its 5-year average of 6.1x. This is roughly in line with the Basic Materials sector median of 11.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.88 | 0.83 | 0.82 | 0.65 | 0.68 | 0.56 | 0.50 | 0.66 | 0.73 | 0.66 |
| EV / EBITDA | 10.48 | 8.55 | 6.79 | 5.22 | 3.89 | 5.92 | 5.04 | 5.85 | 8.76 | 10.77 | 7.45 |
| EV / EBIT | 16.25 | 45.02 | 9.67 | 6.23 | 3.70 | 7.77 | 7.06 | 8.59 | 14.96 | 25.45 | 17.01 |
| EV / FCF | — | 22.07 | 11.49 | 9.82 | 23.12 | 102.71 | 5.06 | — | — | — | 5.58 |
CMC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Commercial Metals Company earns an operating margin of 6.7%, below the Basic Materials sector average of 10.3%. Operating margins have compressed from 13.3% to 6.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 2.0% is modest. ROIC of 8.5% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.6% | 15.6% | 17.1% | 20.6% | 20.8% | 16.4% | 17.3% | 13.8% | 13.4% | 13.6% | 16.0% |
| Operating Margin | 6.7% | 6.7% | 8.8% | 13.3% | 14.7% | 8.9% | 8.0% | 5.8% | 4.8% | 3.5% | 5.3% |
| Net Profit Margin | 1.1% | 1.1% | 6.1% | 9.8% | 13.7% | 6.1% | 5.1% | 3.4% | 3.0% | 1.2% | 1.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.0% | 2.0% | 11.5% | 23.2% | 43.6% | 19.7% | 15.9% | 12.7% | 9.6% | 3.3% | 4.0% |
| ROA | 1.2% | 1.2% | 7.2% | 13.4% | 22.4% | 9.5% | 7.1% | 5.6% | 4.4% | 1.5% | 1.7% |
| ROIC | 8.5% | 8.5% | 11.2% | 19.9% | 28.2% | 17.0% | 12.9% | 10.8% | 8.3% | 5.2% | 6.9% |
| ROCE | 8.7% | 8.7% | 11.8% | 21.9% | 30.7% | 17.2% | 13.8% | 11.6% | 8.6% | 5.7% | 7.4% |
CMC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Commercial Metals Company carries a Debt/EBITDA ratio of 1.7x, which is manageable (31% below the sector average of 2.4x). Net debt stands at $311M ($1.4B total debt minus $1.0B cash). Interest coverage of 11.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.32 | 0.32 | 0.28 | 0.28 | 0.46 | 0.47 | 0.57 | 0.77 | 0.78 | 0.59 | 0.78 |
| Debt / EBITDA | 1.68 | 1.68 | 1.22 | 0.83 | 1.01 | 1.39 | 1.79 | 2.49 | 3.29 | 3.18 | 3.38 |
| Net Debt / Equity | — | 0.07 | 0.08 | 0.14 | 0.25 | 0.25 | 0.29 | 0.65 | 0.36 | 0.41 | 0.41 |
| Net Debt / EBITDA | 0.39 | 0.39 | 0.34 | 0.41 | 0.56 | 0.74 | 0.89 | 2.11 | 1.52 | 2.21 | 1.75 |
| Debt / FCF | — | 1.00 | 0.58 | 0.76 | 3.31 | 12.91 | 0.90 | — | — | — | 1.31 |
| Interest Coverage | 11.43 | 11.43 | 14.48 | 29.12 | 25.86 | 11.57 | 7.12 | 4.77 | 5.39 | 3.04 | 3.02 |
CMC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Commercial Metals Company's current ratio of 2.78x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.03x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 3.73x to 2.78x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.78 | 2.78 | 3.94 | 3.73 | 2.54 | 2.79 | 2.97 | 2.99 | 3.83 | 2.82 | 2.49 |
| Quick Ratio | 2.03 | 2.03 | 2.78 | 2.50 | 1.67 | 1.84 | 2.13 | 2.00 | 2.75 | 2.06 | 1.84 |
| Cash Ratio | 0.83 | 0.83 | 1.03 | 0.70 | 0.50 | 0.51 | 0.73 | 0.28 | 1.15 | 0.42 | 0.63 |
| Asset Turnover | — | 1.09 | 1.16 | 1.33 | 1.43 | 1.45 | 1.34 | 1.55 | 1.40 | 1.29 | 1.15 |
| Inventory Turnover | 7.04 | 7.04 | 6.76 | 6.75 | 6.03 | 6.01 | 7.25 | 7.26 | 6.83 | 7.18 | 5.60 |
| Days Sales Outstanding | — | 56.24 | 53.37 | 51.44 | 55.65 | 59.96 | 58.70 | 63.63 | 58.91 | 53.31 | 69.97 |
CMC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Commercial Metals Company returns 3.5% to shareholders annually — split between a 1.0% dividend yield and 2.6% buyback yield. The payout ratio of 96.2% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 1.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 1.2% | 1.3% | 1.1% | 1.4% | 1.5% | 2.3% | 3.0% | 2.2% | 2.5% | 3.1% |
| Payout Ratio | 96.2% | 96.2% | 16.2% | 8.7% | 5.6% | 14.0% | 20.4% | 28.5% | 40.5% | 119.8% | 101.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.0% | 1.3% | 7.7% | 12.9% | 24.6% | 10.4% | 11.1% | 10.6% | 5.4% | 2.1% | 3.0% |
| FCF Yield | 3.8% | 4.7% | 9.2% | 11.0% | 5.0% | 1.1% | 24.0% | — | — | — | 23.4% |
| Buyback Yield | 2.6% | 3.2% | 3.0% | 1.7% | 3.5% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 1.7% |
| Total Shareholder Yield | 3.5% | 4.4% | 4.3% | 2.8% | 4.8% | 1.5% | 2.4% | 3.0% | 2.2% | 2.5% | 4.7% |
| Shares Outstanding | — | $114M | $117M | $119M | $122M | $122M | $120M | $119M | $118M | $117M | $117M |
Peer Comparison
Compare CMC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CMCYou | $8B | 99.0 | 10.5 | 26.1 | 15.6% | 6.7% | 2.0% | 8.5% | 1.7 |
 NUE | $56B | 32.6 | 14.7 | — | 11.9% | 8.2% | 8.0% | 7.7% | 1.7 |
 STLD | $36B | 31.4 | 19.6 | 72.5 | 13.0% | 8.1% | 13.3% | 9.2% | 2.1 |
 RS | $21B | 28.9 | 17.2 | 41.1 | 26.8% | 7.2% | 10.3% | 8.9% | 1.5 |
 CLF | $7B | -4.0 | — | — | -4.6% | -7.5% | -22.4% | -7.5% | — |
 TS | $31B | 15.6 | 10.7 | 15.7 | 34.4% | 19.1% | 11.5% | 10.2% | 0.2 |
 ZEUS | $533M | 24.3 | 10.6 | 127.1 | 23.2% | 2.5% | 4.1% | 4.3% | 4.0 |
 MTX | $2B | -130.8 | 7.9 | 27.7 | 24.4% | 13.9% | -1.0% | 8.7% | 2.7 |
 SXC | $710M | -16.1 | 5.9 | 16.8 | 7.1% | 3.5% | -6.6% | 4.3% | 3.1 |
 CAT | $476B | 54.3 | 37.8 | 46.3 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 VMC | $39B | 37.5 | 19.2 | 34.8 | 27.3% | 20.1% | 13.0% | 8.8% | 2.3 |
| Basic Materials Median | — | 23.4 | 11.0 | 28.7 | 30.9% | 10.3% | -0.0% | 4.6% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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CMC — Frequently Asked Questions
Quick answers to the most common questions about buying CMC stock.
What is Commercial Metals Company's P/E ratio?
Commercial Metals Company's current P/E ratio is 99.0x. The historical average is 19.7x. This places it at the 100th percentile of its historical range.
What is Commercial Metals Company's EV/EBITDA?
Commercial Metals Company's current EV/EBITDA is 10.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.1x.
What is Commercial Metals Company's ROE?
Commercial Metals Company's return on equity (ROE) is 2.0%. The historical average is 12.2%.
Is CMC stock overvalued?
Based on historical data, Commercial Metals Company is trading at a P/E of 99.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Commercial Metals Company's dividend yield?
Commercial Metals Company's current dividend yield is 0.97% with a payout ratio of 96.2%.
What are Commercial Metals Company's profit margins?
Commercial Metals Company has 15.6% gross margin and 6.7% operating margin.
How much debt does Commercial Metals Company have?
Commercial Metals Company's Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.