Is the Steel sector outperforming S&P 500?
Steel has outperformed S&P 500 by 35.5% over 52 weeks and 5.1% over 13 weeks. 8 of 13 covered companies beat the S&P 500 on Mansfield relative strength, while 7 of 13 beat the sector itself.
20-quarter listed-company comparison
Steel Stocks
Steel: ArcelorMittal S.A. owns the largest revenue base; Friedman Industries, Incorporated has the fastest current growth.
The industry itself · before any single company
How has Steel moved against S&P 500?
The line below covers 5.2 years. Over the most recent two of them this industry is 11% ahead of S&P 500. Earnings across its companies fell 14% on average over the last four reported quarters.
TURNING · ahead 3w~Moving with the index9 of 16 companies ahead of S&P 500 by 5% or more over three months
RS ↑3w · 11/16 >200d (+2) · 9/16 lead (+3) · EPS 10/16↑
Steel, equal-weighted, based at 200
S&P 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
Broad, early and backedHow much of the industry is participating, how recently, and whether the movers score well.
Together9 of 16 stocks moving
Fresh3 crossed in the last 4 weeks
Backed by scoresmovers score +7 vs the industry average
Down the cap ladder — bar is now, tick is four weeks ago
Large
4/40
Mid
2/5+2
Small
3/7+1
Participation is spreading downward — the mid and small companies added more this month than the large ones did.
Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 16 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Steel outperforming S&P 500?
Steel has outperformed S&P 500 by 35.5% over the last 52 weeks. Over 13 weeks the gap is a lead of 5.1%. 8 of 13 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Friedman Industries, Incorporated is the strongest against the sector itself at +39.1%.
+5.1%Sector vs S&P 500 · 13 weeks
+35.5%Sector vs S&P 500 · 52 weeks
8/13Stocks leading S&P 500
7/13Stocks leading sector
Sector metric: — as of latest available · unclassified · direction unavailable.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
Steel has outperformed S&P 500 by 35.5% over 52 weeks and 5.1% over 13 weeks. 8 of 13 covered companies beat the S&P 500 on Mansfield relative strength, while 7 of 13 beat the sector itself. ArcelorMittal S.A. leads with revenue of $62,011 million, based on 8 of 13 comparable companies through Mar 2026.
Which Steel company is largest by revenue?
ArcelorMittal S.A. leads with revenue of $62,011 million, based on 8 of 13 comparable companies through Mar 2026.
Which Steel company is growing fastest?
Friedman Industries, Incorporated has the fastest current revenue growth at 45.4%, across 8 of 13 comparable companies.
Which Steel company has the strongest 4-Factor Sector Score?
Friedman Industries, Incorporated ranks first at 71/100 with 76% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Steel company reports the most CAPEX?
ArcelorMittal S.A. reports the largest latest CAPEX at $1,271 million, with 12 of 13 companies comparable.
Which Steel company has the least gross debt?
Metallus Inc. has the lowest comparable gross debt at $13 million. ArcelorMittal S.A. has the highest at $13,683 million.
Which Steel company has the lowest comparable PEG?
Friedman Industries, Incorporated has the lowest comparable Guarded PEG at 0.32, among 4 of 13 companies that pass the metric’s comparability rules.
How much history does this Steel comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
13
complete canonical membership
Combined market value
$192.0B
Nucor Corporation
Revenue growing
5/8
positive TTM year-on-year growth
Beating S&P 500
8/13
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Friedman Industries, Incorporated has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 76% evidence confidence.
ArcelorMittal S.A. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Friedman Industries, Incorporated · FRD
71.0/100 · Favorable setup · 76% evidence
Exact sum: 25.9 + 11.8 + 16.3 + 17 = 71
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25.9/35Growth & earnings
Revenue 45.4% · PAT 100% · OPM change 1.7 pp
83% evidence
11.8/25Capital efficiency
ROCE 5.3% · debt/equity 0.66×
80% evidence
16.3/20Valuation
P/E 6.4× · PEG 0.32
65% evidence
17.0/20Relative strength
RS sector 39.1% · RS bench 56.6% · 1Y 148.9%
70% evidence
2. NWPX Infrastructure, Inc. · NWPX
68.7/100 · Favorable setup · 76% evidence
Exact sum: 22.9 + 14.3 + 15.3 + 16.2 = 68.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.9/35Growth & earnings
Revenue 10.5% · PAT 30.3% · OPM change 4.4 pp
83% evidence
14.3/25Capital efficiency
ROCE 2.4% · debt/equity 0.25×
80% evidence
15.3/20Valuation
P/E 18.2× · PEG 0.59
65% evidence
16.2/20Relative strength
RS sector 33.3% · RS bench 48.4% · 1Y 211.4%
70% evidence
3. Nucor Corporation · NUE
63.7/100 · Thin evidence · provisional · 57% evidence
Exact sum: 23.3 + 14.1 + 10.5 + 15.8 = 63.7
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
23.3/35Growth & earnings
Revenue — · PAT — · OPM change 7.9 pp
39% evidence
14.1/25Capital efficiency
ROCE 3.6% · debt/equity 0.32×
80% evidence
10.5/20Valuation
P/E 17.1× · PEG —
15% evidence
15.8/20Relative strength
RS sector 22.2% · RS bench 36.9% · 1Y 91.5%
100% evidence
4. Reliance, Inc. · RS
59.5/100 · Thin evidence · provisional · 59% evidence
Exact sum: 18.8 + 14.7 + 9.8 + 16.2 = 59.5
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18.8/35Growth & earnings
Revenue — · PAT — · OPM change 1.2 pp
45% evidence
14.7/25Capital efficiency
ROCE 4.6% · debt/equity 0.27×
80% evidence
9.8/20Valuation
P/E 21.7× · PEG —
15% evidence
16.2/20Relative strength
RS sector 6.5% · RS bench 20% · 1Y 46.2%
100% evidence
5. Steel Dynamics, Inc. · STLD
59.3/100 · Thin evidence · provisional · 59% evidence
Exact sum: 22.1 + 14.3 + 10 + 12.9 = 59.3
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22.1/35Growth & earnings
Revenue — · PAT — · OPM change 4 pp
45% evidence
14.3/25Capital efficiency
ROCE 4.9% · debt/equity 0.45×
80% evidence
10.0/20Valuation
P/E 20.8× · PEG —
15% evidence
12.9/20Relative strength
RS sector 17% · RS bench 30.9% · 1Y 112.3%
100% evidence
6. Metallus Inc. · MTUS
54.7/100 · Mixed-positive evidence · 75% evidence
Exact sum: 18.7 + 11.3 + 13.7 + 11 = 54.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18.7/35Growth & earnings
Revenue 13.6% · PAT — · OPM change 2 pp
62% evidence
11.3/25Capital efficiency
ROCE 0.9% · debt/equity 0.02×
80% evidence
13.7/20Valuation
P/E 233.4× · PEG 0.45
65% evidence
11.0/20Relative strength
RS sector -2.6% · RS bench 10% · 1Y 40.2%
100% evidence
7. ArcelorMittal S.A. · MT
53.9/100 · Mixed-positive evidence · 72% evidence
Exact sum: 17.2 + 12.3 + 11 + 13.4 = 53.9
Decision use: Price leads the evidence: RS versus the benchmark is 24.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
17.2/35Growth & earnings
Revenue 1.7% · PAT 100% · OPM change -0.7 pp
83% evidence
12.3/25Capital efficiency
ROCE 1% · debt/equity 0.24×
80% evidence
11.0/20Valuation
P/E 13.6× · PEG —
15% evidence
13.4/20Relative strength
RS sector 11% · RS bench 24.1% · 1Y 118.2%
100% evidence
8. Ternium S.A. · TX
53.9/100 · Mixed-positive evidence · 65% evidence
Exact sum: 17.3 + 13.3 + 10.8 + 12.5 = 53.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.3/35Growth & earnings
Revenue -7.1% · PAT — · OPM change 4 pp
62% evidence
13.3/25Capital efficiency
ROCE 1.4% · debt/equity 0.18×
80% evidence
10.8/20Valuation
P/E 13.8× · PEG —
15% evidence
12.5/20Relative strength
RS sector 1.8% · RS bench 14.7% · 1Y 54.4%
100% evidence
9. Cleveland-Cliffs Inc. · CLF
44.2/100 · Thin evidence · provisional · 59% evidence
Exact sum: 22.2 + 5 + 9 + 8 = 44.2
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22.2/35Growth & earnings
Revenue — · PAT — · OPM change 7.4 pp
45% evidence
5.0/25Capital efficiency
ROCE -0.3% · debt/equity 1.32×
80% evidence
9.0/20Valuation
P/E 219.9× · PEG —
15% evidence
8.0/20Relative strength
RS sector -14.1% · RS bench -2.7% · 1Y 19.1%
100% evidence
10. Mesabi Trust · MSB
33.4/100 · Adverse evidence · 65% evidence
Exact sum: 4.5 + 15.6 + 9.5 + 3.8 = 33.4
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4.5/35Growth & earnings
Revenue -83.5% · PAT -87.1% · OPM change -28.3 pp
95% evidence
15.6/25Capital efficiency
ROCE 5.7% · debt/equity —
57% evidence
9.5/20Valuation
P/E 32.2× · PEG —
15% evidence
3.8/20Relative strength
RS sector -39.6% · RS bench -31.1% · 1Y -21.8%
70% evidence
11. Worthington Steel, Inc. · WS
32.9/100 · Adverse evidence · 80% evidence
Exact sum: 8.4 + 8.1 + 9.6 + 6.8 = 32.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8.4/35Growth & earnings
Revenue 11.3% · PAT -96.6% · OPM change -14.2 pp
95% evidence
8.1/25Capital efficiency
ROCE -5.3% · debt/equity 0.28×
80% evidence
9.6/20Valuation
P/E 248.2× · PEG 1.48
65% evidence
6.8/20Relative strength
RS sector -11.9% · RS bench -0.8% · 1Y 27.9%
70% evidence
12. Algoma Steel Group Inc. · ASTL
26.4/100 · Thin evidence · provisional · 59% evidence
Exact sum: 7.7 + 2.7 + 11.5 + 4.5 = 26.4
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7.7/35Growth & earnings
Revenue -20.9% · PAT — · OPM change -24.6 pp
62% evidence
2.7/25Capital efficiency
ROCE -49.7% · debt/equity 2.72×
80% evidence
11.5/20Valuation
P/E -50.6× · PEG —
15% evidence
4.5/20Relative strength
RS sector -17% · RS bench -6% · 1Y -14.6%
70% evidence
13. Luda Technology Group Limited · LUD
39.9/100 · Thin evidence · provisional · 29% evidence
Exact sum: 17.8 + 9.8 + 9.3 + 3 = 39.9
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
17.8/35Growth & earnings
Revenue — · PAT — · OPM change —
9% evidence
9.8/25Capital efficiency
ROCE -0.3% · debt/equity —
34% evidence
9.3/20Valuation
P/E 214× · PEG —
15% evidence
3.0/20Relative strength
RS sector -44.6% · RS bench -42.8% · 1Y 3.2%
70% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
ArcelorMittal S.A. has the highest Revenue among the 13 Steel companies compared here, at $62,011 million. Ternium S.A. is next at $15,611 million. Friedman Industries, Incorporated has the highest Revenue growth at 45.4%, so level and change sit with different companies. 8 of 13 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: ArcelorMittal S.A. is the scale leader at $62,011 million, 297.2% ahead of Ternium S.A.. Friedman Industries, Incorporated's growth is 45.4% from a $647 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderArcelorMittal S.A. · $62,011 million
Gap297.2% versus #2 · Ternium S.A.
Persistence4/8 recent comparable periods
Coverage8/13 companies · 230 observations
Investor read: ArcelorMittal S.A. is the scale benchmark; Friedman Industries, Incorporated is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: ArcelorMittal S.A.'s growth falls below Friedman Industries, Incorporated's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1ArcelorMittal S.A. MT$62.0B
2Ternium S.A. TX$15.6B
3Worthington Steel, Inc. WS$3.4B
4Algoma Steel Group Inc. ASTL$1.9B
5Metallus Inc. MTUS$1.2B
Revenue growthfastest growers
1Friedman Industries, Incorporated FRD45%
2Metallus Inc. MTUS14%
3Worthington Steel, Inc. WS11%
4NWPX Infrastructure, Inc. NWPX11%
5ArcelorMittal S.A. MT1.7%
Revenue · company comparison
8/13 level · 8/13 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| ArcelorMittal S.A. MT | $15.5B | 4.5% | Mar 2026 |
| Nucor Corporation NUE | $9.5B | 21% | Jun 2026 |
| Steel Dynamics, Inc. STLD | $5.2B | 19% | Jun 2026 |
| Cleveland-Cliffs Inc. CLF | $4.9B | 6.3% | Jun 2026 |
| Reliance, Inc. RS | $4.0B | 16% | Jun 2026 |
| Ternium S.A. TX | $3.9B | 0.0% | Mar 2026 |
| Worthington Steel, Inc. WS | $929M | 12% | Jun 2026 |
| Metallus Inc. MTUS | $308M | 9.6% | Mar 2026 |
| Algoma Steel Group Inc. ASTL | $297M | -43% | Mar 2026 |
| Friedman Industries, Incorporated FRD | $192M | 49% | Mar 2026 |
| NWPX Infrastructure, Inc. NWPX | $138M | 19% | Mar 2026 |
| Luda Technology Group Limited LUD | $16M | -20% | Dec 2025 |
| Mesabi Trust MSB | $2M | -60% | Jun 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
$1.0B
$1.1B
$942M
$934M
$599M
$568M
$677M
$827M
$733M
$615M
$621M
$651M
$600M
$590M
$517M
$590M
$524M
$455M
$297M
—
ArcelorMittal S.A. · MT
—
$20.8B
$21.8B
$22.1B
$19.0B
$16.9B
$18.5B
$18.6B
$16.6B
$14.6B
$16.3B
$16.2B
$15.2B
$14.7B
$14.8B
$15.9B
$15.7B
$15.0B
$15.5B
—
Cleveland-Cliffs Inc. · CLF
$6.0B
$5.3B
$6.0B
$6.3B
$5.7B
$5.0B
$5.3B
$6.0B
$5.6B
$5.1B
$5.2B
$5.1B
$4.6B
$4.3B
$4.6B
$4.9B
$4.7B
$4.3B
$4.9B
—
Friedman Industries, Incorporated · FRD
$93M
$52M
$75M
$162M
$150M
$112M
$124M
$137M
$131M
$116M
$132M
$115M
$107M
$94M
$129M
$135M
$152M
$168M
$192M
—
Mesabi Trust · MSB
$28M
$16M
$18M
$14M
$-4M
$0M
$-2M
$2M
$10M
$5M
$6M
$6M
$6M
$79M
$7M
$5M
$6M
$4M
$4M
$2M
Metallus Inc. · MTUS
$344M
$338M
$352M
$416M
$317M
$245M
$324M
$357M
$354M
$328M
$322M
$295M
$227M
$241M
$281M
$305M
$306M
$267M
$308M
—
Nucor Corporation · NUE
$8.8B
$10.3B
—
$10.5B
$11.8B
$10.5B
—
$8.7B
$9.5B
$7.7B
$8.1B
$8.1B
$7.4B
$7.1B
—
$7.8B
$8.5B
$8.5B
—
$9.5B
NWPX Infrastructure, Inc. · NWPX
$85M
$103M
$109M
$119M
$123M
$107M
$99M
$116M
$119M
$110M
$113M
$130M
$130M
$120M
$116M
$133M
$151M
$126M
$138M
—
Reliance, Inc. · RS
$3.8B
$4.0B
$4.5B
$4.7B
$4.2B
$3.6B
$4.0B
$3.9B
$3.6B
$3.3B
$3.6B
$3.6B
$3.4B
$3.1B
$3.5B
$3.7B
$3.7B
$3.5B
$4.0B
—
Steel Dynamics, Inc. · STLD
$5.1B
$5.3B
$5.6B
$6.2B
$5.7B
$4.8B
$4.9B
$5.1B
$4.6B
$4.2B
$4.7B
$4.6B
$4.3B
$3.9B
$4.4B
$4.6B
$4.8B
$4.4B
$5.2B
—
Ternium S.A. · TX
$4.6B
$4.3B
$4.3B
$4.4B
$4.1B
$3.5B
$3.6B
$3.9B
$5.2B
$4.9B
$4.8B
$4.5B
$4.5B
$3.9B
$3.9B
$3.9B
$4.0B
$3.8B
$3.9B
—
Worthington Steel, Inc. · WS
—
—
—
—
$1.1B
$868M
$781M
$884M
$906M
$808M
$806M
$911M
$834M
$739M
$687M
$833M
$873M
$872M
$770M
$929M
Revenue growth · reported quarter history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
—
—
—
18%
-41%
-47%
-28%
-11%
22%
8.3%
-8.3%
-21%
-18%
-4.1%
-17%
-9.4%
-13%
-23%
-43%
—
ArcelorMittal S.A. · MT
—
—
—
—
—
-19%
-15%
-16%
-12%
-14%
-12%
-13%
-8.6%
1.1%
-9.1%
-2.0%
3.0%
1.8%
4.5%
—
Cleveland-Cliffs Inc. · CLF
—
—
—
26%
-5.9%
-5.7%
-11%
-5.6%
-0.9%
1.4%
-1.8%
-15%
-18%
-15%
-11%
-3.1%
3.6%
-0.3%
6.3%
—
Friedman Industries, Incorporated · FRD
—
—
—
145%
61%
115%
65%
-15%
-13%
3.6%
6.5%
-16%
-18%
-19%
-2.3%
17%
42%
79%
49%
—
Mesabi Trust · MSB
—
—
—
—
-114%
-100%
-111%
-86%
—
—
—
200%
-40%
1,480%
17%
-17%
0.0%
-95%
-43%
-60%
Metallus Inc. · MTUS
—
—
—
27%
-7.9%
-28%
-8.0%
-14%
12%
34%
-0.6%
-17%
-36%
-27%
-13%
3.4%
35%
11%
9.6%
—
Nucor Corporation · NUE
—
—
—
—
34%
1.8%
—
-17%
-19%
-27%
—
-7.3%
-22%
-8.2%
—
-3.1%
14%
20%
—
21%
NWPX Infrastructure, Inc. · NWPX
—
—
—
61%
45%
3.9%
-9.2%
-2.5%
-3.3%
2.8%
14%
12%
9.2%
9.1%
2.7%
2.3%
16%
5.0%
19%
—
Reliance, Inc. · RS
—
—
—
37%
10%
-9.5%
-12%
-17%
-15%
-7.6%
-8.1%
-6.1%
-5.6%
-6.3%
-4.4%
0.5%
6.8%
12%
16%
—
Steel Dynamics, Inc. · STLD
—
—
—
39%
11%
-9.1%
-12%
-18%
-19%
-12%
-4.1%
-8.8%
-5.3%
-8.5%
-6.9%
-1.5%
11%
14%
19%
—
Ternium S.A. · TX
—
—
—
13%
-10%
-18%
-16%
-13%
26%
39%
32%
17%
-14%
-21%
-18%
-13%
-12%
-2.6%
0.0%
—
Worthington Steel, Inc. · WS
—
—
—
—
—
—
—
—
-16%
-6.9%
3.2%
3.1%
-8.0%
-8.5%
-15%
-8.6%
4.7%
18%
12%
12%
02 · compare level, then change
Operating Economics & Margin Trend
Mesabi Trust has the highest OPM among the 13 Steel companies compared here, at 48.4%. Nucor Corporation is next at 11.7%. Nucor Corporation has the highest Margin change at +7.9 percentage points, so level and change sit with different companies. 12 of 13 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Mesabi Trust leads opm at 48.4%; Nucor Corporation leads margin change at +7.9 percentage points.
LeaderMesabi Trust · 48.4%
Gap313.7% versus #2 · Nucor Corporation
Persistence3/8 recent comparable periods
Coverage12/13 companies · 222 observations
Investor read: Mesabi Trust sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Mesabi Trust MSB48%
2Nucor Corporation NUE12%
3Steel Dynamics, Inc. STLD10%
4NWPX Infrastructure, Inc. NWPX9.2%
5Reliance, Inc. RS9.1%
Margin changefastest expanders
1Nucor Corporation NUE+7.9 pp
2Cleveland-Cliffs Inc. CLF+7.4 pp
3NWPX Infrastructure, Inc. NWPX+4.4 pp
4Steel Dynamics, Inc. STLD+4.0 pp
5Ternium S.A. TX+4.0 pp
Operating margin · company comparison
12/13 level · 12/13 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Mesabi Trust MSB | 48% | −28.3 pp | Jun 2026 |
| Nucor Corporation NUE | 12% | +7.9 pp | Jun 2026 |
| Steel Dynamics, Inc. STLD | 10% | +4.0 pp | Jun 2026 |
| NWPX Infrastructure, Inc. NWPX | 9.2% | +4.4 pp | Mar 2026 |
| Reliance, Inc. RS | 9.1% | +1.2 pp | Jun 2026 |
| Ternium S.A. TX | 7.4% | +4.0 pp | Mar 2026 |
| Friedman Industries, Incorporated FRD | 6.2% | +1.7 pp | Mar 2026 |
| ArcelorMittal S.A. MT | 4.9% | −0.7 pp | Mar 2026 |
| Metallus Inc. MTUS | 2.5% | +2.0 pp | Mar 2026 |
| Cleveland-Cliffs Inc. CLF | -4.3% | +7.4 pp | Jun 2026 |
| Worthington Steel, Inc. WS | -6.2% | −14.2 pp | Jun 2026 |
| Algoma Steel Group Inc. ASTL | -52% | −24.6 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Algoma Steel Group Inc. · ASTL
40%
42%
33%
35%
0.9%
-12%
3.2%
20%
5.0%
-6.0%
0.5%
-1.9%
-14%
-21%
-27%
-14%
-124%
-99%
-52%
—
ArcelorMittal S.A. · MT
—
22%
20%
20%
8.7%
-1.8%
6.4%
10%
7.2%
-14%
6.6%
6.4%
4.4%
3.6%
5.6%
12%
3.5%
2.2%
4.9%
—
Cleveland-Cliffs Inc. · CLF
28%
21%
18%
13%
3.3%
-3.6%
-0.6%
8.1%
5.8%
-2.3%
-0.7%
0.1%
-5.7%
-11%
-12%
-10%
-4.3%
-7.7%
-4.3%
—
Friedman Industries, Incorporated · FRD
26%
-11%
-5.7%
7.6%
0.0%
1.3%
5.8%
7.5%
0.8%
5.3%
5.2%
-1.2%
-0.2%
-1.3%
4.5%
5.2%
1.9%
2.3%
6.2%
—
Mesabi Trust · MSB
96%
98%
100%
96%
111%
-489%
100%
55%
93%
84%
100%
56%
83%
99%
100%
77%
85%
77%
100%
48%
Metallus Inc. · MTUS
15%
18%
16%
25%
-4.0%
-2.2%
8.7%
11%
9.3%
0.5%
8.5%
1.3%
-4.2%
-7.1%
0.5%
3.6%
3.1%
-7.9%
2.5%
—
Nucor Corporation · NUE
23%
28%
—
28%
30%
22%
—
19%
22%
14%
15%
11%
5.3%
5.5%
—
3.8%
11%
10%
—
12%
NWPX Infrastructure, Inc. · NWPX
8.0%
3.0%
5.0%
12%
12%
10%
4.8%
9.9%
7.6%
7.8%
7.7%
11%
12%
8.8%
4.8%
9.9%
13%
10%
9.2%
—
Reliance, Inc. · RS
14%
14%
16%
17%
13%
13%
13%
13%
11%
9.7%
11%
9.7%
8.0%
4.5%
7.9%
8.5%
7.1%
4.8%
9.1%
—
Steel Dynamics, Inc. · STLD
26%
27%
27%
26%
22%
16%
17%
21%
16%
12%
16%
12%
9.1%
6.1%
6.3%
8.4%
11%
7.0%
10%
—
Ternium S.A. · TX
38%
31%
25%
24%
13%
1.2%
9.9%
19%
10%
12%
14%
8.2%
3.9%
1.1%
3.4%
5.0%
5.4%
4.2%
7.4%
—
Worthington Steel, Inc. · WS
—
—
—
—
3.8%
-2.3%
1.2%
10%
7.7%
-1.1%
8.2%
7.4%
5.2%
2.6%
2.7%
8.0%
5.5%
2.5%
0.4%
-6.2%
Margin change · reported quarter history
Algoma Steel Group Inc. · ASTL
—
—
—
+3.2 pp
−38.9 pp
−53.5 pp
−29.8 pp
−15.3 pp
+4.1 pp
+5.6 pp
−2.7 pp
−21.8 pp
−18.9 pp
−15.1 pp
−27.6 pp
−12.5 pp
−110.5 pp
−77.7 pp
−24.6 pp
—
ArcelorMittal S.A. · MT
—
—
—
—
—
−23.7 pp
−13.9 pp
−10.0 pp
−1.5 pp
−11.8 pp
+0.2 pp
−3.9 pp
−2.8 pp
+17.2 pp
−1.0 pp
+5.7 pp
−0.9 pp
−1.4 pp
−0.7 pp
—
Cleveland-Cliffs Inc. · CLF
—
—
—
−7.8 pp
−24.2 pp
−24.5 pp
−19.0 pp
−5.2 pp
+2.5 pp
+1.3 pp
−0.1 pp
−8.0 pp
−11.5 pp
−8.5 pp
−11.0 pp
−10.2 pp
+1.4 pp
+3.1 pp
+7.4 pp
—
Friedman Industries, Incorporated · FRD
—
—
—
−13.6 pp
−26.3 pp
+12.1 pp
+11.5 pp
−0.1 pp
+0.8 pp
+4.0 pp
−0.6 pp
−8.7 pp
−1.0 pp
−6.6 pp
−0.7 pp
+6.4 pp
+2.1 pp
+3.6 pp
+1.7 pp
—
Mesabi Trust · MSB
—
—
—
—
+14.8 pp
−586.3 pp
0.0 pp
−40.5 pp
−18.3 pp
+572.0 pp
0.0 pp
+0.4 pp
−9.7 pp
+15.6 pp
0.0 pp
+21.0 pp
+1.4 pp
−22.0 pp
0.0 pp
−28.3 pp
Metallus Inc. · MTUS
—
—
—
+7.3 pp
−19.1 pp
−20.5 pp
−7.3 pp
−14.0 pp
+13.3 pp
+2.7 pp
−0.2 pp
−9.4 pp
−13.5 pp
−7.6 pp
−8.0 pp
+2.3 pp
+7.3 pp
−0.8 pp
+2.0 pp
—
Nucor Corporation · NUE
—
—
—
—
+6.8 pp
−5.5 pp
—
−9.5 pp
−8.5 pp
−8.9 pp
—
−7.5 pp
−16.2 pp
−8.0 pp
—
−7.2 pp
+5.4 pp
+4.9 pp
—
+7.9 pp
NWPX Infrastructure, Inc. · NWPX
—
—
—
+7.5 pp
+3.8 pp
+7.3 pp
−0.2 pp
−1.9 pp
−4.2 pp
−2.5 pp
+2.9 pp
+0.6 pp
+4.3 pp
+1.0 pp
−2.9 pp
−0.6 pp
+0.7 pp
+1.6 pp
+4.4 pp
—
Reliance, Inc. · RS
—
—
—
+3.3 pp
−1.3 pp
−1.5 pp
−3.0 pp
−3.6 pp
−2.1 pp
−2.9 pp
−2.2 pp
−3.5 pp
−2.8 pp
−5.2 pp
−2.9 pp
−1.2 pp
−0.9 pp
+0.3 pp
+1.2 pp
—
Steel Dynamics, Inc. · STLD
—
—
—
+4.6 pp
−4.4 pp
−11.2 pp
−9.7 pp
−5.1 pp
−5.6 pp
−3.5 pp
−1.1 pp
−8.8 pp
−6.9 pp
−6.1 pp
−9.7 pp
−3.7 pp
+1.4 pp
+0.9 pp
+4.0 pp
—
Ternium S.A. · TX
—
—
—
−8.3 pp
−25.0 pp
−30.2 pp
−14.7 pp
−5.2 pp
−2.6 pp
+10.6 pp
+4.2 pp
−10.7 pp
−6.3 pp
−10.7 pp
−10.7 pp
−3.2 pp
+1.5 pp
+3.1 pp
+4.0 pp
—
Worthington Steel, Inc. · WS
—
—
—
—
—
—
—
—
+3.9 pp
+1.2 pp
+7.0 pp
−2.8 pp
−2.5 pp
+3.7 pp
−5.5 pp
+0.6 pp
+0.3 pp
−0.1 pp
−2.3 pp
−14.2 pp
03 · compare level, then change
Profit Scale & Acceleration
ArcelorMittal S.A. has the highest Net profit among the 13 Steel companies compared here, at $3,002 million. Ternium S.A. is next at $532 million. Friedman Industries, Incorporated has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies. Its Net profit series carries 18 reported observations across the 20-quarter window.
What the numbers say: ArcelorMittal S.A. leads with $3,002 million of TTM profit, 464.3% above Ternium S.A.. Friedman Industries, Incorporated shows ≥100% on the scoring scale (216.7% uncapped) growth from a $19 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderArcelorMittal S.A. · $3,002 million
Gap464.3% versus #2 · Ternium S.A.
Persistence2/8 recent comparable periods
Coverage8/13 companies · 230 observations
Investor read: ArcelorMittal S.A. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1ArcelorMittal S.A. MT$3.0B
2Ternium S.A. TX$532M
3NWPX Infrastructure, Inc. NWPX$43M
4Friedman Industries, Incorporated FRD$19M
5Mesabi Trust MSB$12M
Profit growthfastest growers
1Friedman Industries, Incorporated FRD100%
2ArcelorMittal S.A. MT100%
3NWPX Infrastructure, Inc. NWPX30%
4Mesabi Trust MSB-87%
5Worthington Steel, Inc. WS-97%
Net profit · company comparison
8/13 level · 5/13 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Nucor Corporation NUE | $870M | 285% | Jun 2026 |
| ArcelorMittal S.A. MT | $581M | -29% | Mar 2026 |
| Steel Dynamics, Inc. STLD | $400M | 83% | Jun 2026 |
| Ternium S.A. TX | $372M | 162% | Mar 2026 |
| Reliance, Inc. RS | $266M | 32% | Jun 2026 |
| NWPX Infrastructure, Inc. NWPX | $11M | 175% | Mar 2026 |
| Friedman Industries, Incorporated FRD | $9M | 80% | Mar 2026 |
| Metallus Inc. MTUS | $5M | 400% | Mar 2026 |
| Mesabi Trust MSB | $1M | -75% | Jun 2026 |
| Luda Technology Group Limited LUD | $1M | -100% | Dec 2025 |
| Worthington Steel, Inc. WS | $-68M | -215% | Jun 2026 |
| Algoma Steel Group Inc. ASTL | $-159M | -1,950% | Mar 2026 |
| Cleveland-Cliffs Inc. CLF | $-226M | -5,322% | Jun 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
$288M
$123M
$244M
$301M
$87M
$-70M
$-20M
$131M
$31M
$-85M
$28M
$6M
$-107M
$-67M
$-25M
$-111M
$-485M
$-365M
$-159M
—
ArcelorMittal S.A. · MT
—
$4.1B
$4.2B
$4.0B
$1.1B
$227M
$1.1B
$1.9B
$961M
$-3.0B
$974M
$512M
$299M
$-405M
$822M
$1.8B
$399M
$193M
$581M
—
Cleveland-Cliffs Inc. · CLF
$1.3B
$898M
$813M
$600M
$165M
$-205M
$-43M
$356M
$274M
$-138M
$-53M
$9M
$-232M
$-434M
$-486M
$-470M
$-231M
$-235M
$-226M
—
Friedman Industries, Incorporated · FRD
$13M
$-3M
$-7M
$11M
$2M
$1M
$6M
$8M
$4M
$1M
$5M
$3M
$-1M
$-1M
$5M
$5M
$2M
$3M
$9M
—
Mesabi Trust · MSB
$27M
$16M
$17M
$14M
$-5M
$0M
$-3M
$1M
$9M
$4M
$5M
$3M
$5M
$78M
$6M
$4M
$5M
$3M
$3M
$1M
Metallus Inc. · MTUS
$50M
$57M
$37M
$75M
$-13M
$-33M
$14M
$29M
$25M
$1M
$24M
$5M
$-6M
$-21M
$1M
$4M
$8M
$-14M
$5M
—
Nucor Corporation · NUE
$1.6B
$2.2B
—
$2.2B
$2.7B
$1.8B
—
$1.2B
$1.6B
$873M
$959M
$712M
$303M
$345M
—
$226M
$706M
$683M
—
$870M
NWPX Infrastructure, Inc. · NWPX
$5M
$2M
$4M
$10M
$10M
$8M
$2M
$7M
$6M
$5M
$5M
$9M
$10M
$10M
$4M
$9M
$14M
$9M
$11M
—
Reliance, Inc. · RS
$397M
$422M
$525M
$574M
$394M
$351M
$384M
$386M
$296M
$273M
$304M
$268M
$200M
$106M
$201M
$234M
$190M
$117M
$266M
—
Steel Dynamics, Inc. · STLD
$1.0B
$1.1B
$1.1B
$1.2B
$918M
$639M
$644M
$816M
$580M
$427M
$588M
$432M
$321M
$210M
$218M
$301M
$404M
$265M
$400M
—
Ternium S.A. · TX
$1.4B
$1.1B
$878M
$936M
$220M
$59M
$480M
$736M
$-783M
$554M
$491M
$-743M
$93M
$333M
$142M
$259M
$-270M
$171M
$372M
—
Worthington Steel, Inc. · WS
—
—
—
—
$31M
$-13M
$9M
$72M
$62M
$-2M
$52M
$58M
$32M
$16M
$12M
$59M
$39M
$22M
$11M
$-68M
Profit growth · reported quarter history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
—
—
—
48%
-70%
-157%
-108%
-56%
-64%
—
—
-95%
-445%
—
-189%
-1,950%
—
—
—
—
ArcelorMittal S.A. · MT
—
—
—
—
—
-95%
-73%
-52%
-8.9%
-1,415%
-15%
-73%
-69%
—
-16%
257%
33%
—
-29%
—
Cleveland-Cliffs Inc. · CLF
—
—
—
-24%
-87%
-123%
-105%
-41%
66%
—
—
-97%
-185%
—
—
-5,322%
—
—
—
—
Friedman Industries, Incorporated · FRD
—
—
—
0.0%
-85%
—
—
-27%
100%
0.0%
-17%
-63%
-125%
-200%
0.0%
67%
—
—
80%
—
Mesabi Trust · MSB
—
—
—
—
-119%
-100%
-118%
-93%
—
—
—
200%
-44%
1,850%
20%
33%
0.0%
-96%
-50%
-75%
Metallus Inc. · MTUS
—
—
—
39%
-126%
-158%
-62%
-61%
—
—
71%
-83%
-124%
-2,200%
-96%
-20%
—
—
400%
—
Nucor Corporation · NUE
—
—
—
—
74%
-19%
—
-45%
-42%
-51%
—
-42%
-81%
-60%
—
-68%
133%
98%
—
285%
NWPX Infrastructure, Inc. · NWPX
—
—
—
400%
100%
300%
-50%
-30%
-40%
-38%
150%
29%
67%
100%
-20%
0.0%
40%
-10%
175%
—
Reliance, Inc. · RS
—
—
—
74%
-0.8%
-17%
-27%
-33%
-25%
-22%
-21%
-31%
-32%
-61%
-34%
-13%
-5.0%
10%
32%
—
Steel Dynamics, Inc. · STLD
—
—
—
71%
-8.2%
-42%
-42%
-33%
-37%
-33%
-8.7%
-47%
-45%
-51%
-63%
-30%
26%
26%
83%
—
Ternium S.A. · TX
—
—
—
-19%
-84%
-95%
-45%
-21%
-456%
839%
2.3%
-201%
—
-40%
-71%
—
-390%
-49%
162%
—
Worthington Steel, Inc. · WS
—
—
—
—
—
—
—
—
100%
—
478%
-19%
-48%
—
-77%
1.7%
22%
38%
-8.3%
-215%
04 · compare level, then change
Capacity Spending & Returns On It
ArcelorMittal S.A. has the highest CAPEX among the 13 Steel companies compared here, at $1,271 million. Nucor Corporation is next at $661 million. Ternium S.A. has the highest CAPEX intensity at 10.3%, so level and change sit with different companies. 12 of 13 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: ArcelorMittal S.A. reports $1,271 million of CAPEX; Ternium S.A. has the highest covered intensity at 10.3%. Coverage is only 12 of 13 companies and 211 reported observations, so this is partial evidence—not a complete sector rank.
LeaderArcelorMittal S.A. · $1,271 million
Gap92.3% versus #2 · Nucor Corporation
Persistence8/8 recent comparable periods
Coverage12/13 companies · 211 observations
Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.
This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1ArcelorMittal S.A. MT$1.3B
2Nucor Corporation NUE$661M
3Ternium S.A. TX$406M
4Cleveland-Cliffs Inc. CLF$157M
5Steel Dynamics, Inc. STLD$124M
CAPEX intensityhighest reinvestment intensity
1Ternium S.A. TX10%
2ArcelorMittal S.A. MT8.2%
3Metallus Inc. MTUS8.1%
4Nucor Corporation NUE7.0%
5Algoma Steel Group Inc. ASTL6.7%
Capital expenditure · company comparison
12/13 level · 12/13 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | CAPEX | CAPEX intensity | Reported |
|---|---|---|---|
| ArcelorMittal S.A. MT | $1.3B | 8.2% | Mar 2026 |
| Nucor Corporation NUE | $661M | 7.0% | Jun 2026 |
| Ternium S.A. TX | $406M | 10% | Mar 2026 |
| Cleveland-Cliffs Inc. CLF | $157M | 3.1% | Jun 2026 |
| Steel Dynamics, Inc. STLD | $124M | 2.7% | Jun 2026 |
| Reliance, Inc. RS | $93M | 1.6% | Jun 2026 |
| Worthington Steel, Inc. WS | $37M | 4.0% | Jun 2026 |
| Metallus Inc. MTUS | $25M | 8.1% | Mar 2026 |
| Algoma Steel Group Inc. ASTL | $20M | 6.7% | Mar 2026 |
| NWPX Infrastructure, Inc. NWPX | $3M | 2.2% | Mar 2026 |
| Friedman Industries, Incorporated FRD | $1M | 0.5% | Mar 2026 |
| Luda Technology Group Limited LUD | $1M | 5.0% | Dec 2025 |
Full 20-quarter history · every available company
CAPEX · reported quarter history
Algoma Steel Group Inc. · ASTL
$25M
$30M
$93M
$80M
$92M
$95M
$103M
$119M
$155M
$97M
$120M
$98M
$89M
$112M
$127M
$97M
$74M
$30M
$20M
—
ArcelorMittal S.A. · MT
—
$1.1B
$529M
$655M
$784M
$1.5B
$938M
$1.1B
$1.2B
$1.5B
$1.2B
$985M
$1.1B
$1.1B
$967M
$886M
$1.2B
$1.2B
$1.3B
—
Cleveland-Cliffs Inc. · CLF
$175M
$232M
$236M
$232M
$248M
$227M
$188M
$131M
$162M
$165M
$182M
$157M
$151M
$205M
$152M
$112M
$157M
$140M
$152M
$157M
Friedman Industries, Incorporated · FRD
$0M
$4M
$1M
$3M
$4M
$1M
$8M
$0M
$2M
$2M
$1M
$1M
$1M
$1M
$1M
$2M
$2M
$2M
$1M
—
Luda Technology Group Limited · LUD
—
—
—
$0M
—
$0M
—
$0M
—
$1M
—
$1M
—
$1M
—
—
—
—
—
—
Metallus Inc. · MTUS
$4M
$5M
$7M
$4M
$6M
$11M
$11M
$8M
$18M
$15M
$17M
$14M
$18M
$15M
$28M
$18M
$28M
$35M
$25M
—
Nucor Corporation · NUE
$389M
$505M
—
$448M
$521M
$461M
—
$532M
$525M
$718M
$670M
$801M
$823M
$879M
—
$859M
$954M
$807M
—
$661M
NWPX Infrastructure, Inc. · NWPX
$3M
$5M
$4M
$4M
$3M
$11M
$4M
$4M
$5M
$5M
$5M
$6M
$6M
$4M
$4M
$3M
$8M
$5M
$3M
—
Reliance, Inc. · RS
$55M
$58M
$67M
$88M
$96M
$92M
$103M
$130M
$126M
$110M
$109M
$98M
$113M
$111M
$87M
$88M
$81M
$73M
$64M
$93M
Steel Dynamics, Inc. · STLD
$215M
$205M
$159M
$164M
$241M
$344M
$226M
$358M
$558M
$515M
$374M
$419M
$621M
$453M
$306M
$288M
$166M
$188M
$138M
$124M
Ternium S.A. · TX
$111M
$122M
$125M
$161M
$136M
$159M
$204M
$231M
$382M
$597M
$449M
$409M
$446M
$561M
$518M
$810M
$711M
$463M
$406M
—
Worthington Steel, Inc. · WS
—
—
—
—
$11M
$15M
$11M
$9M
$17M
$19M
$22M
$45M
$22M
$35M
$29M
$46M
$29M
$25M
$30M
$37M
CAPEX intensity · reported quarter history
Algoma Steel Group Inc. · ASTL
2.5%
2.8%
9.9%
8.6%
15%
17%
15%
14%
21%
16%
19%
15%
15%
19%
25%
16%
14%
6.6%
6.7%
—
ArcelorMittal S.A. · MT
—
5.5%
2.4%
3.0%
4.1%
8.9%
5.1%
5.7%
7.0%
10%
7.6%
6.1%
6.9%
7.7%
6.5%
5.6%
7.9%
8.3%
8.2%
—
Cleveland-Cliffs Inc. · CLF
2.9%
4.3%
4.0%
3.7%
4.4%
4.5%
3.6%
2.2%
2.9%
3.2%
3.5%
3.1%
3.3%
4.7%
3.3%
2.3%
3.3%
3.2%
3.1%
—
Friedman Industries, Incorporated · FRD
0.0%
7.7%
1.3%
1.9%
2.7%
0.9%
6.5%
0.0%
1.5%
1.7%
0.8%
0.9%
0.9%
1.1%
0.8%
1.5%
1.3%
1.2%
0.5%
—
Luda Technology Group Limited · LUD
—
—
—
0.0%
—
0.0%
—
0.0%
—
3.8%
—
4.0%
—
5.0%
—
—
—
—
—
—
Metallus Inc. · MTUS
1.2%
1.5%
2.0%
1.0%
1.9%
4.5%
3.4%
2.2%
5.1%
4.6%
5.3%
4.7%
7.9%
6.2%
10%
5.9%
9.2%
13%
8.1%
—
Nucor Corporation · NUE
4.4%
4.9%
—
4.3%
4.4%
4.4%
—
6.1%
5.5%
9.3%
8.2%
9.9%
11%
12%
—
11%
11%
9.5%
—
7.0%
NWPX Infrastructure, Inc. · NWPX
3.5%
4.9%
3.7%
3.4%
2.4%
10%
4.0%
3.4%
4.2%
4.5%
4.4%
4.6%
4.6%
3.3%
3.4%
2.3%
5.3%
4.0%
2.2%
—
Reliance, Inc. · RS
1.4%
1.5%
1.5%
1.9%
2.3%
2.5%
2.6%
3.4%
3.5%
3.3%
3.0%
2.7%
3.3%
3.5%
2.5%
2.4%
2.2%
2.1%
1.6%
—
Steel Dynamics, Inc. · STLD
4.2%
3.9%
2.9%
2.6%
4.3%
7.1%
4.6%
7.0%
12%
12%
8.0%
9.0%
14%
12%
7.0%
6.3%
3.4%
4.3%
2.7%
—
Ternium S.A. · TX
2.4%
2.8%
2.9%
3.6%
3.3%
4.5%
5.6%
6.0%
7.4%
12%
9.4%
9.1%
10%
15%
13%
21%
18%
12%
10%
—
Worthington Steel, Inc. · WS
—
—
—
—
1.0%
1.7%
1.4%
1.0%
1.9%
2.4%
2.7%
4.9%
2.6%
4.7%
4.2%
5.5%
3.3%
2.9%
3.9%
4.0%
Annual capital allocation · 6-year view
13/13 capacity base · 13/13 OCF · 12/13 CAPEX · 13/13 FCF
Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.
Full annual capacity base, operating cash flow, CAPEX and free cash flow history
Capacity base · net fixed assets + CWIP · fiscal-year history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
$700M
$774M
$1.1B
$1.4B
$1.7B
$1.0B
ArcelorMittal S.A. · MT
—
$30.1B
$30.2B
$33.7B
$33.3B
—
Cleveland-Cliffs Inc. · CLF
—
$9.2B
$9.1B
$8.9B
$9.9B
$9.5B
Friedman Industries, Incorporated · FRD
—
$30M
$55M
$60M
$59M
$78M
Mesabi Trust · MSB
—
$0M
$0M
$0M
$0M
$0M
Metallus Inc. · MTUS
—
$525M
$499M
$504M
$519M
$577M
Nucor Corporation · NUE
—
$8.1B
$9.6B
$11.1B
$13.2B
$15.3B
NWPX Infrastructure, Inc. · NWPX
—
$220M
$226M
$232M
$238M
$244M
Reliance, Inc. · RS
—
$2.1B
$2.2B
$2.5B
$2.8B
$2.9B
Steel Dynamics, Inc. · STLD
—
$4.8B
$5.4B
$6.7B
$8.1B
$8.6B
Ternium S.A. · TX
—
$6.4B
$6.3B
$7.6B
$8.4B
$10.4B
Worthington Steel, Inc. · WS
—
$511M
$490M
$548M
$621M
$735M
Operating cash flow · fiscal-year history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
$8M
$1.3B
$177M
$295M
$82M
$-66M
ArcelorMittal S.A. · MT
—
$9.9B
$10.2B
$7.6B
$4.0B
$2.6B
Cleveland-Cliffs Inc. · CLF
—
$2.8B
$2.4B
$2.3B
$105M
$-462M
Friedman Industries, Incorporated · FRD
—
$-13M
$64M
$5M
$-4M
$9M
Mesabi Trust · MSB
—
$63M
$14M
$15M
$94M
$14M
Metallus Inc. · MTUS
—
$197M
$135M
$125M
$40M
$16M
Nucor Corporation · NUE
—
$6.2B
$10.1B
$7.1B
$4.0B
$3.2B
NWPX Infrastructure, Inc. · NWPX
—
$-6M
$18M
$53M
$55M
$67M
Reliance, Inc. · RS
—
$799M
$2.1B
$1.7B
$1.4B
$831M
Steel Dynamics, Inc. · STLD
—
$2.2B
$4.5B
$3.5B
$1.8B
$1.5B
Ternium S.A. · TX
—
$2.7B
$2.8B
$2.5B
$1.9B
$2.3B
Worthington Steel, Inc. · WS
—
$40M
$315M
$200M
$230M
$201M
CAPEX · reported cash flow · fiscal-year history
Algoma Steel Group Inc. · ASTL
$72M
$166M
$371M
$490M
$421M
$329M
ArcelorMittal S.A. · MT
—
$3.0B
$3.5B
$4.6B
—
—
Cleveland-Cliffs Inc. · CLF
—
$705M
$943M
$646M
$695M
$561M
Friedman Industries, Incorporated · FRD
—
$8M
$16M
$6M
$5M
$7M
Luda Technology Group Limited · LUD
—
$1M
$0M
$2M
$1M
$0M
Metallus Inc. · MTUS
—
$12M
$27M
$52M
$64M
$109M
Nucor Corporation · NUE
—
$1.6B
$1.9B
$2.2B
$3.2B
$3.4B
NWPX Infrastructure, Inc. · NWPX
—
$13M
$23M
$18M
$21M
$20M
Reliance, Inc. · RS
—
$237M
$342M
$469M
$431M
$329M
Steel Dynamics, Inc. · STLD
—
$1.0B
$909M
$1.7B
$1.9B
$948M
Ternium S.A. · TX
—
$524M
$581M
$1.5B
$1.9B
$2.5B
Worthington Steel, Inc. · WS
—
$36M
$46M
$103M
$130M
$121M
Free cash flow · fiscal-year history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
$-64M
$1.1B
$-194M
$-195M
$-338M
$-395M
ArcelorMittal S.A. · MT
—
$6.9B
$6.7B
$3.0B
$4.0B
$2.6B
Cleveland-Cliffs Inc. · CLF
—
$2.1B
$1.5B
$1.6B
$-590M
$-1.0B
Friedman Industries, Incorporated · FRD
—
$-21M
$47M
$-1M
$-9M
$1M
Mesabi Trust · MSB
—
$63M
$14M
$15M
$94M
$14M
Metallus Inc. · MTUS
—
$185M
$107M
$74M
$-24M
$-93M
Nucor Corporation · NUE
—
$4.6B
$8.1B
$4.9B
$806M
$-188M
NWPX Infrastructure, Inc. · NWPX
—
$-19M
$-5M
$35M
$34M
$47M
Reliance, Inc. · RS
—
$563M
$1.8B
$1.2B
$999M
$503M
Steel Dynamics, Inc. · STLD
—
$1.2B
$3.6B
$1.9B
$-24M
$502M
Ternium S.A. · TX
—
$2.2B
$2.2B
$1.0B
$41M
$-187M
Worthington Steel, Inc. · WS
—
$3M
$270M
$96M
$100M
$80M
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Metallus Inc. has the lowest Gross debt among the 13 Steel companies compared here, at $13 million. Friedman Industries, Incorporated is next at $100 million. Ternium S.A. has the lowest Net debt at $131 million net cash, so level and change sit with different companies. 11 of 13 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Ternium S.A. has the clearest covered balance-sheet capacity with $131 million net cash and gross debt of $3,011 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderMetallus Inc. · $13 million
Gap87% versus #2 · Friedman Industries, Incorporated
Persistence8/8 recent comparable periods
Coverage11/13 companies · 201 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Metallus Inc. MTUS$13M
2Friedman Industries, Incorporated FRD$100M
3NWPX Infrastructure, Inc. NWPX$102M
4Worthington Steel, Inc. WS$354M
5Algoma Steel Group Inc. ASTL$942M
Net debtlowest net debt
1Ternium S.A. TX$-131M
2Metallus Inc. MTUS$-91M
3NWPX Infrastructure, Inc. NWPX$88M
4Friedman Industries, Incorporated FRD$98M
5Worthington Steel, Inc. WS$269M
Debt and balance-sheet capacity · company comparison
11/13 level · 11/13 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| ArcelorMittal S.A. MT | $13.7B | $9.3B | Mar 2026 |
| Cleveland-Cliffs Inc. CLF | $7.7B | $7.6B | Jun 2026 |
| Nucor Corporation NUE | $7.1B | $4.6B | Jun 2026 |
| Steel Dynamics, Inc. STLD | $4.2B | $3.6B | Jun 2026 |
| Ternium S.A. TX | $3.0B | $-131M | Mar 2026 |
| Reliance, Inc. RS | $2.0B | $1.8B | Jun 2026 |
| Algoma Steel Group Inc. ASTL | $942M | $877M | Mar 2026 |
| Worthington Steel, Inc. WS | $354M | $269M | Jun 2026 |
| NWPX Infrastructure, Inc. NWPX | $102M | $88M | Mar 2026 |
| Friedman Industries, Incorporated FRD | $100M | $98M | Mar 2026 |
| Metallus Inc. MTUS | $13M | $-91M | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Algoma Steel Group Inc. · ASTL
$548M
$98M
$96M
$101M
$109M
$124M
$123M
$130M
$136M
—
—
—
—
$673M
$655M
$648M
$745M
$916M
$942M
—
ArcelorMittal S.A. · MT
$8.4B
$8.4B
$8.7B
—
$9.0B
$11.7B
$11.5B
$10.5B
$10.5B
$10.7B
$10.2B
$11.1B
$11.3B
$11.6B
$12.0B
$13.7B
$14.9B
$18.6B
$13.7B
—
Cleveland-Cliffs Inc. · CLF
$5.4B
$5.2B
$5.0B
$4.7B
$4.5B
$4.2B
$4.6B
$4.0B
$3.5B
$3.1B
$3.7B
$3.5B
$3.8B
$7.1B
$7.6B
$7.7B
$8.0B
$7.3B
$7.8B
$7.7B
Friedman Industries, Incorporated · FRD
$15M
$15M
$19M
$102M
$36M
$45M
$34M
$39M
$54M
$46M
$43M
$49M
$39M
$35M
$50M
$36M
$91M
$96M
$100M
—
Metallus Inc. · MTUS
$61M
$59M
$49M
$34M
$34M
$33M
$25M
$25M
$24M
$25M
$23M
$23M
$25M
$17M
$16M
$16M
$16M
$15M
$13M
—
Nucor Corporation · NUE
$5.4B
$5.7B
—
$6.8B
$7.4B
$6.7B
—
$6.7B
$6.7B
$6.8B
$6.9B
$6.9B
$6.9B
$7.0B
—
$7.9B
$6.9B
$6.9B
—
$7.1B
NWPX Infrastructure, Inc. · NWPX
$35M
$185M
$188M
$183M
$170M
$189M
$166M
$174M
$160M
$155M
$190M
$175M
$158M
$130M
$129M
$135M
$132M
$103M
$102M
—
Reliance, Inc. · RS
$1.8B
$1.9B
$1.9B
$1.9B
$1.9B
$1.9B
$1.4B
$1.4B
$1.4B
$1.4B
$1.4B
$1.4B
$1.5B
$1.4B
$1.8B
$1.7B
$1.7B
$1.7B
$2.0B
$2.0B
Steel Dynamics, Inc. · STLD
$3.1B
$3.1B
$3.1B
$3.0B
$3.0B
$3.1B
$3.1B
$3.1B
$3.1B
$3.1B
$3.0B
$3.0B
$3.7B
$3.2B
$4.2B
$3.8B
$3.8B
$4.2B
$4.2B
$4.2B
Ternium S.A. · TX
$1.8B
$1.7B
$1.6B
$1.3B
$1.3B
$1.3B
$1.1B
$1.1B
$2.4B
$2.4B
$2.3B
$2.2B
$2.4B
$2.4B
$2.7B
$2.6B
$2.3B
$2.6B
$3.0B
—
Worthington Steel, Inc. · WS
—
—
$154M
$154M
—
—
$100M
$100M
$0M
$270M
$192M
$224M
$196M
$187M
$189M
$228M
$333M
$279M
$353M
$354M
Net debt · reported quarter history
Algoma Steel Group Inc. · ASTL
$181M
$-490M
$-819M
$-1.0B
$-356M
$-121M
$-124M
$-171M
$-78M
—
—
—
—
$406M
$428M
$565M
$740M
$838M
$877M
—
ArcelorMittal S.A. · MT
$4.2B
$4.2B
$3.2B
—
$3.9B
$2.4B
$5.2B
$4.6B
$4.3B
$3.0B
$4.8B
$5.3B
$6.2B
$5.2B
$6.7B
$8.4B
$9.1B
$15.6B
$9.3B
—
Cleveland-Cliffs Inc. · CLF
$5.3B
$5.2B
$5.0B
$4.6B
$4.4B
$4.2B
$4.5B
$3.9B
$3.4B
$2.9B
$3.6B
$3.4B
$3.7B
$7.0B
$7.5B
$7.7B
$8.0B
$7.2B
$7.7B
$7.6B
Friedman Industries, Incorporated · FRD
$12M
$12M
$16M
$100M
$29M
$41M
$31M
$34M
$51M
$42M
$40M
$45M
$37M
$34M
$46M
$34M
$86M
$93M
$98M
—
Metallus Inc. · MTUS
$-111M
$-201M
$-191M
$-205M
$-229M
$-224M
$-202M
$-197M
$-201M
$-256M
$-255M
$-250M
$-230M
$-224M
$-164M
$-175M
$-176M
$-142M
$-91M
—
Nucor Corporation · NUE
$2.3B
$3.7B
—
$2.7B
$5.0B
$3.3B
—
$2.1B
$1.3B
$-288M
$1.3B
$1.5B
$2.1B
$2.8B
—
$3.8B
$4.4B
$4.1B
—
$4.6B
NWPX Infrastructure, Inc. · NWPX
$32M
$182M
$185M
$179M
$166M
$185M
$162M
$170M
$156M
$151M
$186M
$170M
$152M
$125M
$124M
$133M
$129M
$101M
$88M
—
Reliance, Inc. · RS
$1.2B
$1.6B
$1.3B
$1.4B
$1.2B
$692M
$551M
$550M
$395M
$297M
$442M
$1.0B
$1.2B
$1.1B
$1.5B
$1.5B
$1.4B
$1.5B
$1.8B
$1.8B
Steel Dynamics, Inc. · STLD
$2.0B
$1.9B
$1.9B
$1.7B
$1.0B
$814M
$741M
$981M
$829M
$949M
$1.3B
$1.8B
$2.0B
$2.5B
$3.0B
$3.3B
$3.0B
$3.4B
$3.6B
$3.6B
Ternium S.A. · TX
$57M
$-828M
$-1.3B
$-715M
$-1.4B
$-2.3B
$-2.6B
$-1.8B
$-1.9B
$-1.4B
$-1.7B
$-1.6B
$-1.5B
$-1.4B
$-1.1B
$-802M
$-502M
$-525M
$-131M
—
Worthington Steel, Inc. · WS
—
—
$134M
$134M
—
—
$67M
$67M
—
$56M
$131M
$184M
$160M
$135M
$126M
$190M
$255M
$189M
$263M
$269M
06 · compare level, then change
Return On Capital Employed
Mesabi Trust has the highest ROCE among the 13 Steel companies compared here, at 5.7%. Friedman Industries, Incorporated is next at 5.3%. Cleveland-Cliffs Inc. has the highest ROCE change at +3 percentage points, so level and change sit with different companies. 13 of 13 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Mesabi Trust leads ROCE at 5.7%, 0.4 percentage points above Friedman Industries, Incorporated. Cleveland-Cliffs Inc. has the strongest latest improvement at +3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderMesabi Trust · 5.7%
Gap7.5% versus #2 · Friedman Industries, Incorporated
Persistence1/8 recent comparable periods
Coverage13/13 companies · 234 observations
Investor read: Mesabi Trust sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Mesabi Trust MSB5.7%
2Friedman Industries, Incorporated FRD5.3%
3Steel Dynamics, Inc. STLD4.9%
4Reliance, Inc. RS4.6%
5Nucor Corporation NUE3.6%
ROCE changefastest improvers
1Cleveland-Cliffs Inc. CLF+3.0 pp
2Nucor Corporation NUE+2.6 pp
3Friedman Industries, Incorporated FRD+2.1 pp
4Steel Dynamics, Inc. STLD+2.0 pp
5Luda Technology Group Limited LUD · older report+1.7 pp
Return on capital · company comparison
13/13 level · 13/13 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Mesabi Trust MSB | 5.7% | −12.3 pp | Jun 2026 |
| Friedman Industries, Incorporated FRD | 5.3% | +2.1 pp | Mar 2026 |
| Steel Dynamics, Inc. STLD | 4.9% | +2.0 pp | Jun 2026 |
| Reliance, Inc. RS | 4.6% | +1.3 pp | Jun 2026 |
| Nucor Corporation NUE | 3.6% | +2.6 pp | Jun 2026 |
| NWPX Infrastructure, Inc. NWPX | 2.4% | +1.3 pp | Mar 2026 |
| Ternium S.A. TX | 1.4% | +0.8 pp | Mar 2026 |
| ArcelorMittal S.A. MT | 1.0% | −0.2 pp | Mar 2026 |
| Metallus Inc. MTUS | 0.9% | +0.7 pp | Mar 2026 |
| Cleveland-Cliffs Inc. CLF | -0.3% | +3.0 pp | Jun 2026 |
| Luda Technology Group Limited LUD | -0.3% | +1.7 pp | Dec 2025 |
| Worthington Steel, Inc. WS | -5.3% | −10.5 pp | Jun 2026 |
| Algoma Steel Group Inc. ASTL | -50% | −35.8 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
42%
82%
65%
74%
49%
27%
14%
5.2%
6.0%
—
—
—
—
-8.9%
-14%
-19%
-26%
-48%
-50%
—
ArcelorMittal S.A. · MT
0.0%
14%
12%
—
2.4%
-0.4%
1.7%
5.2%
1.7%
-2.7%
1.5%
1.4%
0.9%
0.8%
1.2%
2.6%
0.7%
0.5%
1.0%
—
Cleveland-Cliffs Inc. · CLF
15%
7.6%
7.2%
5.5%
1.2%
-1.2%
-0.2%
3.1%
2.1%
-0.8%
-0.3%
0.0%
-1.8%
-2.9%
-3.5%
-3.3%
-1.3%
-1.9%
-1.2%
-0.3%
Friedman Industries, Incorporated · FRD
30%
-6.3%
-5.2%
8.7%
0.1%
1.1%
5.7%
5.5%
0.6%
3.7%
4.2%
-0.8%
-0.1%
-0.7%
3.2%
3.9%
1.4%
1.9%
5.3%
—
Mesabi Trust · MSB
—
66%
76%
62%
-18%
-1.6%
-10%
4.7%
50%
23%
38%
21%
25%
135%
31%
18%
21%
4.8%
16%
5.7%
Metallus Inc. · MTUS
6.3%
7.2%
6.4%
12%
-1.4%
-0.6%
3.0%
4.1%
3.5%
0.2%
3.0%
0.4%
-1.0%
-1.9%
0.2%
1.2%
1.1%
-2.6%
0.9%
—
Nucor Corporation · NUE
—
15%
—
14%
16%
9.9%
—
6.2%
7.4%
3.5%
4.0%
3.0%
1.3%
1.3%
—
1.0%
3.1%
3.0%
—
3.6%
NWPX Infrastructure, Inc. · NWPX
2.0%
0.8%
1.3%
3.4%
3.5%
2.2%
1.0%
2.3%
1.8%
1.7%
1.7%
2.6%
3.0%
2.1%
1.1%
2.5%
3.6%
2.5%
2.4%
—
Reliance, Inc. · RS
7.0%
7.0%
8.6%
9.4%
6.5%
5.2%
5.7%
5.6%
4.2%
3.5%
4.1%
3.7%
2.9%
1.5%
2.9%
3.3%
2.8%
1.8%
3.9%
4.6%
Steel Dynamics, Inc. · STLD
16%
16%
15%
16%
11%
6.8%
7.2%
8.8%
5.9%
4.2%
6.0%
4.4%
3.0%
1.9%
2.1%
2.9%
3.8%
2.3%
3.8%
4.9%
Ternium S.A. · TX
15%
11%
8.0%
7.9%
3.7%
0.3%
2.3%
4.7%
3.0%
3.3%
3.7%
2.1%
0.9%
0.2%
0.6%
1.0%
1.1%
0.8%
1.4%
—
Worthington Steel, Inc. · WS
—
—
0.0%
0.0%
—
—
0.7%
6.6%
—
-1.4%
5.3%
5.3%
6.8%
1.5%
1.5%
5.2%
3.4%
1.5%
0.2%
-5.3%
ROCE change · reported quarter history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
—
—
—
—
+7.6 pp
−54.3 pp
−51.4 pp
−68.7 pp
−43.2 pp
—
—
—
—
—
—
—
—
−38.9 pp
−35.8 pp
—
ArcelorMittal S.A. · MT
—
—
—
—
+2.4 pp
−14.1 pp
−10.7 pp
—
−0.7 pp
−2.3 pp
−0.2 pp
−3.8 pp
−0.8 pp
+3.5 pp
−0.3 pp
+1.2 pp
−0.2 pp
−0.3 pp
−0.2 pp
—
Cleveland-Cliffs Inc. · CLF
—
—
—
—
−13.8 pp
−8.8 pp
−7.4 pp
−2.4 pp
+0.9 pp
+0.4 pp
−0.1 pp
−3.1 pp
−3.9 pp
−2.1 pp
−3.2 pp
−3.3 pp
+0.5 pp
+1.0 pp
+2.3 pp
+3.0 pp
Friedman Industries, Incorporated · FRD
—
—
—
—
−29.4 pp
+7.4 pp
+10.9 pp
−3.2 pp
+0.5 pp
+2.6 pp
−1.5 pp
−6.3 pp
−0.7 pp
−4.4 pp
−1.0 pp
+4.7 pp
+1.5 pp
+2.6 pp
+2.1 pp
—
Mesabi Trust · MSB
—
—
—
—
—
−67.1 pp
−86.3 pp
−56.9 pp
+68.4 pp
+24.6 pp
+48.7 pp
+16.3 pp
−25.6 pp
+111.5 pp
−7.5 pp
−3.0 pp
−3.6 pp
−129.7 pp
−14.5 pp
−12.3 pp
Metallus Inc. · MTUS
—
—
—
—
−7.7 pp
−7.8 pp
−3.4 pp
−7.4 pp
+4.9 pp
+0.8 pp
0.0 pp
−3.7 pp
−4.5 pp
−2.1 pp
−2.8 pp
+0.8 pp
+2.1 pp
−0.7 pp
+0.7 pp
—
Nucor Corporation · NUE
—
—
—
—
—
−5.5 pp
—
−7.9 pp
−8.2 pp
−6.4 pp
—
−3.2 pp
−6.1 pp
−2.2 pp
—
−2.0 pp
+1.8 pp
+1.7 pp
—
+2.6 pp
NWPX Infrastructure, Inc. · NWPX
—
—
—
—
+1.5 pp
+1.4 pp
−0.3 pp
−1.1 pp
−1.7 pp
−0.5 pp
+0.7 pp
+0.3 pp
+1.2 pp
+0.4 pp
−0.6 pp
−0.1 pp
+0.6 pp
+0.4 pp
+1.3 pp
—
Reliance, Inc. · RS
—
—
—
—
−0.5 pp
−1.8 pp
−2.9 pp
−3.8 pp
−2.3 pp
−1.7 pp
−1.6 pp
−1.9 pp
−1.3 pp
−2.0 pp
−1.2 pp
−0.4 pp
−0.1 pp
+0.3 pp
+1.0 pp
+1.3 pp
Steel Dynamics, Inc. · STLD
—
—
—
—
−4.2 pp
−8.8 pp
−8.2 pp
−7.1 pp
−5.5 pp
−2.6 pp
−1.2 pp
−4.4 pp
−2.9 pp
−2.3 pp
−3.9 pp
−1.5 pp
+0.8 pp
+0.4 pp
+1.7 pp
+2.0 pp
Ternium S.A. · TX
—
—
—
—
−10.9 pp
−10.6 pp
−5.7 pp
−3.2 pp
−0.7 pp
+3.0 pp
+1.4 pp
−2.6 pp
−2.1 pp
−3.1 pp
−3.1 pp
−1.1 pp
+0.2 pp
+0.6 pp
+0.8 pp
—
Worthington Steel, Inc. · WS
—
—
—
—
—
—
+0.7 pp
+6.6 pp
—
—
+4.6 pp
−1.3 pp
—
+2.9 pp
−3.8 pp
−0.1 pp
−3.4 pp
0.0 pp
−1.3 pp
−10.5 pp
07 · compare level, then change
Valuation Against Growth & Quality
Friedman Industries, Incorporated has the lowest Guarded PEG among the 13 Steel companies compared here, at 0.32×. Metallus Inc. is next at 0.45×. Algoma Steel Group Inc. has the lowest P/E at -50.6×, so level and change sit with different companies. 4 of 13 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Friedman Industries, Incorporated has the lowest comparable Guarded PEG at 0.32×, 28.9% below Metallus Inc.. Only 4 of 13 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderFriedman Industries, Incorporated · 0.32×
Gap28.9% versus #2 · Metallus Inc.
Persistence0/8 recent comparable periods
Coverage4/13 companies · 17 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Friedman Industries, Incorporated FRD0.3
2Metallus Inc. MTUS0.5
3NWPX Infrastructure, Inc. NWPX0.6
4Worthington Steel, Inc. WS1.5
P/Elowest P/E
1Algoma Steel Group Inc. ASTL-50.6
2Friedman Industries, Incorporated FRD6.4
3ArcelorMittal S.A. MT13.6
4Ternium S.A. TX13.8
5Nucor Corporation NUE17.1
Valuation · company comparison
4/13 level · 13/13 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Reliance, Inc. RS | 2.0 | 21.7 | Jun 2026 |
| Worthington Steel, Inc. WS | 1.5 | 248.2 | Jun 2026 |
| Steel Dynamics, Inc. STLD | 0.8 | 20.8 | Jun 2026 |
| NWPX Infrastructure, Inc. NWPX | 0.6 | 18.2 | Mar 2026 |
| Metallus Inc. MTUS | 0.5 | 233.4 | Mar 2026 |
| Friedman Industries, Incorporated FRD | 0.3 | 6.4 | Mar 2026 |
| Nucor Corporation NUE | — | 17.1 | Jun 2026 |
| ArcelorMittal S.A. MT | — | 13.6 | Mar 2026 |
| Ternium S.A. TX | — | 13.8 | Mar 2026 |
| Cleveland-Cliffs Inc. CLF | — | 219.9 | Jun 2026 |
| Algoma Steel Group Inc. ASTL | — | -50.6 | Mar 2026 |
| Mesabi Trust MSB | — | 32.2 | Jun 2026 |
| Luda Technology Group Limited LUD | — | 214.0 | Dec 2025 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Friedman Industries, Incorporated · FRD
—
—
—
—
—
—
0.1
0.2
—
—
—
—
—
—
—
—
0.3
—
—
—
Metallus Inc. · MTUS
—
—
—
—
—
—
—
—
—
0.5
—
—
—
—
—
—
—
—
—
—
NWPX Infrastructure, Inc. · NWPX
—
—
—
—
—
—
—
0.3
—
—
—
—
0.6
—
0.3
0.4
0.6
3.1
0.6
—
Reliance, Inc. · RS
—
—
—
—
—
—
1.4
—
—
—
—
—
—
—
—
—
—
—
2.0
—
Steel Dynamics, Inc. · STLD
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
0.8
—
Worthington Steel, Inc. · WS
—
—
—
—
—
—
—
—
—
—
—
—
2.6
1.3
—
—
—
—
1.5
—
P/E · reported quarter history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
0.8
2.2
2.4
1.8
1.2
—
—
7.6
13.3
—
11.4
-50.6
—
—
—
—
—
—
—
—
ArcelorMittal S.A. · MT
2.8
2.4
2.0
1.4
1.5
2.6
4.4
5.6
5.1
26.1
31.0
—
—
13.7
18.9
9.8
10.8
11.1
13.6
—
Cleveland-Cliffs Inc. · CLF
5.1
4.1
4.7
2.3
2.9
6.3
20.4
38.1
23.3
27.2
30.7
219.9
—
—
—
—
—
—
—
—
Friedman Industries, Incorporated · FRD
2.2
2.0
4.3
4.3
21.6
10.1
3.9
5.2
5.2
6.1
7.8
8.8
14.1
18.9
17.1
13.8
13.5
9.2
6.4
—
Mesabi Trust · MSB
—
4.7
5.3
4.2
8.5
11.4
56.9
—
38.0
23.8
13.5
9.8
13.1
3.4
3.3
3.9
4.1
26.0
31.1
32.2
Metallus Inc. · MTUS
7.1
5.2
5.9
4.5
5.2
14.0
27.0
—
31.9
16.0
13.2
17.5
28.5
471.0
—
—
—
—
233.4
—
Nucor Corporation · NUE
—
5.8
—
5.3
3.2
3.4
—
6.1
7.6
9.7
11.6
11.4
14.5
13.8
—
18.4
24.9
19.4
—
17.1
NWPX Infrastructure, Inc. · NWPX
16.2
27.4
19.6
14.5
11.0
10.8
10.5
11.0
12.9
14.5
14.6
13.6
15.4
14.2
12.6
12.4
14.4
17.6
18.2
—
Reliance, Inc. · RS
8.2
7.4
7.0
5.6
5.7
6.8
9.2
10.8
11.0
12.4
15.6
14.6
15.9
17.3
20.7
22.9
20.5
20.7
19.8
21.7
Steel Dynamics, Inc. · STLD
5.3
4.0
4.3
2.9
3.1
4.7
6.0
6.4
6.9
8.1
10.2
10.4
11.4
11.6
16.5
18.7
18.5
21.2
19.3
20.8
Ternium S.A. · TX
2.4
2.2
2.2
1.9
2.0
3.4
5.9
6.5
26.6
12.5
12.6
—
90.0
—
—
9.9
11.9
17.4
13.8
—
Worthington Steel, Inc. · WS
—
—
—
—
—
—
—
—
—
10.8
9.3
10.6
14.3
15.7
12.5
11.4
14.2
13.7
17.3
248.2
08 · compare level, then change
Enterprise Value & Book Value
Ternium S.A. has the lowest EV/EBITDA among the 13 Steel companies compared here, at 7.32×. ArcelorMittal S.A. is next at 7.5×. The same company also holds the lowest P/BV, at 0.65×. 12 of 13 companies report a comparable reading, the latest through Mar 2026. Its EV/EBITDA series carries 19 reported observations across the 20-quarter window.
What the numbers say: Ternium S.A. leads both ev/ebitda at 7.32× and p/bv at 0.65×.
LeaderTernium S.A. · 7.32×
Gap2.4% versus #2 · ArcelorMittal S.A.
Persistence0/8 recent comparable periods
Coverage12/13 companies · 200 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Ternium S.A. TX7.3
2ArcelorMittal S.A. MT7.5
3Friedman Industries, Incorporated FRD7.6
4Metallus Inc. MTUS8.9
5Nucor Corporation NUE9.2
P/BVlowest P/BV
1Ternium S.A. TX0.7
2ArcelorMittal S.A. MT0.7
3Friedman Industries, Incorporated FRD0.8
4Cleveland-Cliffs Inc. CLF1.0
5Metallus Inc. MTUS1.0
Enterprise and book valuation · company comparison
12/13 level · 13/13 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| Cleveland-Cliffs Inc. CLF | 46.5 | 1.0 | Jun 2026 |
| Worthington Steel, Inc. WS | 31.6 | 2.0 | Jun 2026 |
| Mesabi Trust MSB | 29.9 | 19.9 | Jun 2026 |
| Reliance, Inc. RS | 13.8 | 2.6 | Jun 2026 |
| Steel Dynamics, Inc. STLD | 13.7 | 3.5 | Jun 2026 |
| Algoma Steel Group Inc. ASTL | 11.0 | 1.8 | Mar 2026 |
| NWPX Infrastructure, Inc. NWPX | 10.8 | 1.9 | Mar 2026 |
| Nucor Corporation NUE | 9.2 | 1.8 | Jun 2026 |
| Metallus Inc. MTUS | 8.9 | 1.0 | Mar 2026 |
| Friedman Industries, Incorporated FRD | 7.6 | 0.8 | Mar 2026 |
| ArcelorMittal S.A. MT | 7.5 | 0.7 | Mar 2026 |
| Ternium S.A. TX | 7.3 | 0.7 | Mar 2026 |
| Luda Technology Group Limited LUD | — | 6.6 | Dec 2025 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Algoma Steel Group Inc. · ASTL
1.1
1.3
1.1
0.5
—
—
2.7
4.1
3.3
—
4.8
11.0
—
—
—
—
—
—
—
—
ArcelorMittal S.A. · MT
—
1.8
—
—
1.3
1.6
2.9
3.7
3.1
3.1
5.9
6.2
6.8
3.7
5.3
5.0
5.6
7.4
7.5
—
Cleveland-Cliffs Inc. · CLF
4.1
3.3
3.8
2.2
2.7
4.3
7.9
8.9
7.3
8.3
9.1
9.7
19.3
63.2
—
—
—
—
—
46.5
Friedman Industries, Incorporated · FRD
1.7
1.6
2.6
5.7
18.9
9.6
4.9
5.8
6.5
5.4
6.2
9.5
10.1
19.2
23.8
10.2
13.4
10.3
7.6
—
Mesabi Trust · MSB
—
4.7
5.3
4.1
8.4
11.1
56.9
—
33.9
22.2
13.5
9.2
12.0
3.4
3.3
3.9
4.1
24.9
31.1
29.9
Metallus Inc. · MTUS
2.6
2.3
2.9
2.0
1.7
2.9
3.5
7.0
4.9
4.8
4.7
5.3
5.2
6.4
12.1
11.5
8.1
10.0
8.9
—
Nucor Corporation · NUE
—
4.4
—
3.7
2.5
2.5
—
4.1
4.9
5.9
7.1
6.8
7.8
7.4
—
8.5
10.9
9.4
—
9.2
NWPX Infrastructure, Inc. · NWPX
8.2
16.7
13.1
10.6
8.3
8.4
7.8
8.1
8.7
9.1
9.7
8.9
9.3
9.0
8.4
8.4
9.5
10.0
10.8
—
Reliance, Inc. · RS
5.6
5.5
7.6
4.1
4.2
4.6
6.2
7.3
7.4
8.2
10.5
9.9
10.5
10.9
12.8
14.1
12.7
12.8
12.5
13.8
Steel Dynamics, Inc. · STLD
3.9
3.0
3.2
2.2
2.2
3.2
4.2
4.4
4.8
5.5
7.0
7.3
7.9
8.2
11.0
12.3
12.1
13.8
12.8
13.7
Ternium S.A. · TX
1.9
1.6
1.6
1.4
1.3
1.7
2.9
3.5
4.6
4.0
3.4
3.5
4.0
4.2
6.4
7.4
7.9
7.5
7.3
—
Worthington Steel, Inc. · WS
—
—
—
—
—
—
—
—
—
6.8
6.4
7.5
8.8
9.6
7.4
7.3
9.6
9.1
11.7
31.6
P/BV · reported quarter history
Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Algoma Steel Group Inc. · ASTL
0.5
1.8
1.3
1.2
0.6
0.6
0.8
0.6
0.6
—
—
—
—
1.0
0.6
0.8
0.6
1.2
1.8
—
ArcelorMittal S.A. · MT
0.6
0.6
0.5
—
0.3
0.4
0.4
0.4
0.4
0.4
0.4
0.3
0.4
0.4
0.4
0.4
0.5
0.5
0.7
—
Cleveland-Cliffs Inc. · CLF
2.5
2.0
2.7
1.2
1.0
1.1
1.3
1.1
1.0
1.3
1.5
1.0
0.9
0.7
0.7
0.7
1.1
1.2
0.8
1.0
Friedman Industries, Incorporated · FRD
1.0
0.7
0.8
0.6
0.5
0.7
0.7
0.8
0.8
0.9
1.0
0.8
0.9
0.8
0.8
0.9
1.1
1.0
0.8
—
Mesabi Trust · MSB
—
8.0
11.9
10.0
24.1
20.2
26.4
24.4
11.9
12.7
12.2
10.2
10.4
3.3
13.3
18.7
16.9
21.2
21.2
19.9
Metallus Inc. · MTUS
1.0
1.2
1.5
1.1
0.9
1.2
1.2
1.3
1.3
1.4
1.3
1.2
0.9
0.9
0.8
0.9
1.0
1.0
1.0
—
Nucor Corporation · NUE
—
2.1
—
2.6
1.7
1.6
—
2.0
2.0
2.0
2.3
1.8
1.7
1.3
—
1.2
1.6
1.5
—
1.8
NWPX Infrastructure, Inc. · NWPX
0.8
1.1
0.9
1.0
0.9
1.1
1.0
0.9
0.9
0.9
1.0
1.0
1.2
1.3
1.1
1.1
1.3
1.5
1.9
—
Reliance, Inc. · RS
1.5
1.7
1,534.9
1.5
1.6
1.7
2.1
2.1
2.0
2.1
2.4
2.1
2.1
2.0
2.2
2.3
2.0
2.1
2.2
2.6
Steel Dynamics, Inc. · STLD
2.1
1.9
2.3
1.6
1.6
2.1
2.3
2.1
2.0
2.1
2.6
2.2
2.1
1.9
2.1
2.1
2.3
2.7
2.8
3.5
Ternium S.A. · TX
0.9
0.8
0.8
0.6
0.5
0.5
0.7
0.6
0.6
0.7
0.6
0.6
0.6
0.5
0.5
0.5
0.6
0.6
0.7
—
Worthington Steel, Inc. · WS
—
—
—
—
—
—
—
—
—
1.3
1.7
1.7
1.7
2.2
1.3
1.2
1.5
1.5
1.8
2.0
09 · let price answer last
Market action
NWPX Infrastructure, Inc. has the strongest one-year price move in Steel at +211.4%. Friedman Industries, Incorporated leads on Mansfield relative strength against the S&P 500 at +56.6%. 8 of 13 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Steel comparison names 5 specific ways its own evidence can mislead, all listed below. 1 of the 13 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. A high growth rate can still be a low-base artefact.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
10 · the complete set
Which companies are included?
All 13 companies in the canonical Steel membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals |
|---|---|---|---|---|
| Nucor Corporation NUEAHEAD26/26 WEEKS | $60.5B | $266 | 2026-07-28 | Jun 2026 |
| ArcelorMittal S.A. MTAHEAD21/26 WEEKS | $51.2B | $67.5 | 2026-07-28 | Mar 2026 |
| Steel Dynamics, Inc. STLDAHEAD25/26 WEEKS | $37.5B | $260 | 2026-07-28 | Jun 2026 |
| Reliance, Inc. RSAHEAD23/26 WEEKS | $21.2B | $414 | 2026-07-28 | Jun 2026 |
| Ternium S.A. TXAHEAD18/26 WEEKS | $9.7B | $49.3 | 2026-07-28 | Mar 2026 |
| Cleveland-Cliffs Inc. CLFAHEAD | $6.8B | $12.0 | 2026-07-28 | Jun 2026 |
| Worthington Steel, Inc. WS | $1.9B | $38.1 | 2026-07-28 | Jun 2026 |
| NWPX Infrastructure, Inc. NWPXAHEAD26/26 WEEKS | $1.2B | $126 | 2026-07-28 | Mar 2026 |
| Metallus Inc. MTUSAHEAD | $879M | $21.1 | 2026-07-28 | Mar 2026 |
| Algoma Steel Group Inc. ASTL | $463M | $4.4 | 2026-07-28 | Mar 2026 |
| Mesabi Trust MSB | $300M | $22.9 | 2026-07-28 | Jun 2026 |
| Friedman Industries, Incorporated FRDAHEAD | $264M | $37.2 | 2026-07-28 | Mar 2026 |
| Luda Technology Group Limited LUD | $96M | $4.5 | 2026-07-10 | Dec 2025 |
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 13 Steel companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-28 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Questions investors ask · short, speakable answers
Steel company comparison FAQs
These 18 answers restate the Steel comparison above in question form. Every one is computed from the same 13 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.
Which Steel company is the biggest?
ArcelorMittal S.A. is the largest, with trailing-twelve-month revenue of $62,011 million, ahead of Ternium S.A. at $15,611 million. That covers 8 of 13 companies with comparable reporting through Mar 2026.
Which Steel company is growing fastest?
Friedman Industries, Incorporated has the fastest revenue growth at 45.4% year on year, across 8 of 13 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Steel company has the best profit margins?
Mesabi Trust has the highest operating margin at 48.4%, from 12 of 13 comparable companies. Nucor Corporation shows the biggest recent improvement, at +7.9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Steel company makes the most profit?
ArcelorMittal S.A. earns the most, at $3,002 million of trailing-twelve-month net profit, from 8 of 13 comparable companies. Friedman Industries, Incorporated has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Steel company earns the highest return on capital?
Mesabi Trust leads on return on capital employed at 5.7%, across 13 of 13 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Steel stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Friedman Industries, Incorporated screens cheapest at 0.32×. Only 4 of 13 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Steel company has the strongest balance sheet?
Metallus Inc. carries the lowest comparable gross debt at $13 million, from 11 of 13 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Steel company is investing most in new capacity?
ArcelorMittal S.A. reports the largest capital spending at $1,271 million, across 12 of 13 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.
Is the Steel sector beating the market?
Steel has outperformed S&P 500 by 35.5% over the last 52 weeks and 5.1% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 8 of 13 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Steel stock has the strongest price momentum?
Friedman Industries, Incorporated has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Steel company scores highest for research priority?
Friedman Industries, Incorporated scores 71 out of 100 with 76% evidence confidence, from 25.9 points on growth and earnings, 11.8 on capital efficiency, 16.3 on valuation and 17 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Steel companies does this comparison cover, and over what period?
It compares 13 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Steel sector?
The 13 Steel companies on this page carry $191,967 million of combined market value. Nucor Corporation is the largest at $60,493 million, about 32% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.
What is the Steel sector's P/E ratio?
The median price-to-earnings ratio across the 13 Steel companies on this page is 21.7×, measured on the 12 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.
How is the Steel sector performing?
8 of the 13 covered Steel companies are beating S&P 500 on Mansfield relative strength. The sector itself is 35.5% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.
How many Steel stocks are listed in the US?
This comparison covers 13 listed Steel companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.