# Commercial Metals Company (CMC)

> Source: Nexqual · https://nexqual.com/CMC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Commercial Metals Company (CMC), nexqual.com/CMC" · informational, not investment advice.

**Price:** USD 63.79 (-0.72% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 64.25 · day 61.87–64.35 · 52w 55.97–84.87 · market cap null · NYQ

## Key facts
- Last four reported quarters (through Aug 31, 2026): revenue $9.39B, net income $656M (7.0% margin), free cash flow $479M (SEC filings).
- 1 of 80 tracked superinvestors hold CMC (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $604K; 0 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y +6.0% vs S&P 500 +14.9%; 5Y +116.7% vs S&P 500 +80.3%.
- Next earnings: 2027-01-07, EPS estimate USD 1.71, revenue estimate $2.55B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $8.91B | $8.80B | $7.93B | $7.80B | $9.39B | $9.39B |
| Gross profit | $1.86B | $1.81B | $1.36B | $1.22B | $1.75B | — |
| Net income | $1.22B | $860M | $485M | $84.7M | $656M | $656M |
| EPS (diluted) | $9.95 | $7.25 | $4.14 | $0.74 | $5.86 | — |
| Free cash flow | $250M | $737M | $575M | $312M | $479M | $479M |
| Gross margin | 20.8% | 20.6% | 17.1% | 15.6% | 18.6% | — |
| Net margin | 13.7% | 9.8% | 6.1% | 1.1% | 7.0% | 7.0% |
| Revenue growth | +32.4% | -1.3% | -9.9% | -1.6% | +20.5% | — |
| Cash + short-term investments | $673M | $592M | $858M | $1.04B | $776M | — |
| Total debt | $1.79B | $1.04B | $1.04B | $1.24B | $3.28B | — |
Fiscal years end Aug. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 31, 2026)

P/E at fiscal year-ends: Aug 2026 11.5x, Aug 2025 77.7x, Aug 2024 12.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold CMC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.04% | $22.0M | Added +22.7% |

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $604K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-13 | McPherson John R | Director | 1,390 | $100K | 71.92 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-10 | Matt Peter R | President and CEO | 8,230 | $504K | 61.3 | Too little history (no open-market trades in 2024) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Barclays | Target lowered | Equal-Weight | $80 → $72 |
| 2026-10-19 | BMO Capital | Target lowered | Market Perform | $75 → $73 |
| 2026-10-19 | Morgan Stanley | Target lowered | Overweight | $88 → $84 |
| 2026-10-09 | JP Morgan | Target lowered | Overweight | $83 → $80 |
| 2026-10-06 | Wells Fargo | Target lowered | Equal-Weight | $80 → $68 |
| 2026-09-09 | JP Morgan | Target lowered | Overweight | $86 → $83 |
| 2026-08-07 | Barclays | Target raised | Equal-Weight | $75 → $80 |
| 2026-08-06 | BMO Capital | Target raised | Market Perform | $77 → $80 |
| 2026-07-09 | B of A Securities | Target lowered | Buy | $84 → $78 |
| 2026-07-07 | Citigroup | Target lowered | Buy | $85 → $75 |
| 2026-06-29 | BMO Capital | Target lowered | Market Perform | $80 → $77 |
| 2026-06-26 | Wells Fargo | Target raised | Equal-Weight | $77 → $80 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +6.0% | +116.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +6.1% | +16.7% |
| Volatility (annualized) | 35.4% | 33.7% |
| Max drawdown | -30.0% (Feb 2026→Mar 2026) | -33.7% (Nov 2024→Mar 2025) |

## Peers (Metal Fabrication)
ATI (ATI Inc.) USD 161.84 -10.43% · CRS (Carpenter Technology Corporatio) USD 292.26 -20.62% · MLI (Mueller Industries, Inc.) USD 54.53 -5.23% · ESAB (ESAB Corporation) USD 66.89 +0.80% · GPGI (GPGI, Inc.) USD 12.55 -2.86% · WOR (Worthington Enterprises, Inc.) USD 64.44 -1.01%

## More
Full page: https://nexqual.com/CMC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CMC's own 10-K filed 2026-10-16 (https://www.sec.gov/Archives/edgar/data/22444/000002244426000065/cmc-20260831.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | InQuik | "•Through our licensing agreement with InQuik Inc., CMC Bridge Systems is the authorized provider of InQuik Bridges in the U.S. CMC Bridges are a patented prefabricated and modular system for constructing reinforced concr…" |

## Revenue by business segment (quarter ended 2026-08-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Reportable Segments Total | $2.68B | 100.9% | +25.7% |
| North America Steel Group | $1.94B | 73.0% | +20.0% |
| Construction Solutions Group | $431.4M | 16.2% | +94.5% |
| Europe Steel Group | $281.2M | 10.6% | +6.8% |
| Corporate and Other | $6.3M | 0.2% | -52.7% |
| Total revenue | $2.66B | 100% | — |
The lines above cover 200.9% of total revenue.

## Revenue by product line (quarter ended 2026-08-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Steel products | $805.3M | 30.3% | +18.5% |
| Downstream products | $587.4M | 22.1% | +10.6% |
| Raw materials | $483.6M | 18.2% | +39.5% |
| Other | $63.1M | 2.4% | +7.8% |
| Total revenue | $2.66B | 100% | — |
The lines above cover 73% of total revenue.

## Revenue by region (fiscal year ended 2026-08-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $7.61B | 81.1% | +22.5% |
| Other | $1.10B | 11.7% | +14.1% |
| Poland | $678.9M | 7.2% | +9.9% |
| Total revenue | $9.39B | 100% | — |

## Company outlook (8-K filed 2026-10-15)

- "Matt added, "We expect fiscal 2027 will be another strong year for CMC, supported by a healthy and balanced market backdrop and the growing contribution from our value creation levers, including TAG, our growth investments, and an evolving early-stage construction portfolio."
- "Financial and statistical information presented in the broadcast are located on CMC's website under "Investors." About CMC CMC is a Fortune 500 company headquartered in Irving, Texas, and a leading provider of early-stage construction solutions that support the foundational phases of modern infrastructure and building projects."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-11-30) | $1.71 | $1.58 | +8.7% | $2.55B | 6 |
| Next quarter (ends 2027-02-28) | $1.21 | $1.28 | -5.1% | $2.31B | 6 |
| Current fiscal year (ends 2027-08-31) | $6.80 | $7.14 | -4.7% | $10.38B | 10 |
| Next fiscal year (ends 2028-08-31) | $6.98 | $6.97 | +0.2% | $10.61B | 10 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-03-19 (includes earnings 2027-01-07): ±18.6%; earnings reaction alone ±7.2%; last 8 reports averaged ±2.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 35.9% | ±8.3% |
| 2026-12-18 | 56 | 33.7% | ±10.8% |
| 2027-03-19 | 147 | 36.5% | ±18.6% |
| 2027-06-17 | 237 | 36.4% | ±23.4% |