Nucor Corp

Nucor is the largest steel producer in the United States, but its manufacturing approach differs fundamentally from traditional integrated mills. Its network of electric arc furnace mini-mills melts scrap steel rather than processing iron ore, making production more flexible, lower-cost, and environmentally friendlier than blast furnace steelmaking. This allows Nucor to profitably scale production up or down with demand, a structural advantage that showed clearly when it remained profitable through multiple steel cycle downturns that hurt blast furnace competitors.

Nucor's EAF cost structure gives it meaningful margin advantages over integrated steelmakers through the cycle, and US tariffs on steel imports have supported domestic pricing above global benchmarks. Infrastructure spending through the IIJA provides multi-year structural demand for rebar and structural steel. Steel prices are inherently cyclical and tied to construction and manufacturing activity, creating earnings volatility. Nucor's balance sheet strength and consistent profitability through past downturns differentiate it from weaker peers.

Steel Dynamics is the most comparable publicly traded EAF producer and a direct competitor across bar, sheet, and structural steel products. Cleveland-Cliffs operates integrated (blast furnace) mills and acquired AK Steel and ArcelorMittal's US operations, making it a large but structurally different competitor. United States Steel operates both integrated and EAF capacity. Commercial Metals Company focuses on rebar and steel fabrication for construction, overlapping significantly with Nucor's downstream products.

Nucor is a Dividend Aristocrat with more than 50 consecutive years of dividend increases—an extraordinary record for a cyclical steel company that most competitors cannot approach. The company supplements its base dividend with supplemental dividends during high-earnings periods, returning additional cash when steel prices and margins are strong. The base dividend has never been cut even through severe downturns, underpinned by Nucor's EAF cost discipline and balance sheet conservatism.

NUE last closed at $165.17, up 1.49% in the most recent trading session. Over the past 52 weeks, the stock has traded between a low of $97.59 and a high of $196.90. The current price represents 68% of its 52-week range, which helps investors gauge where the stock sits relative to its recent trading history.

Among 22 analysts covering NUE, the consensus rating is Buy — 15 rate it a buy, 7 hold, and 0 sell. The average price target sits at $132.99, implying 19% downside from the current price. Keep in mind that analyst targets reflect 12-month expectations and can shift quickly after earnings reports or major company events.

Nucor Corp generated $29.63B in revenue during fiscal year 2026, with $1.95B reaching the bottom line as net income. The net profit margin of 6.6% reflects the competitive nature of its industry.

NUE trades at a P/E ratio of 24.91 on trailing earnings of $7.14 per share. That's roughly in line with the broader market average of ~20-25x. Comparing this multiple against Metals & Mining sector peers gives better context than the broad market alone, since P/E norms vary significantly across industries.

Performance varies across timeframes, reflecting shifting market conditions. Returns by timeframe: -0.71% (3M), +21.38% (6M), +29.75% (1Y), -2.50% (YTD). Comparing these figures against the S&P 500 and sector benchmarks helps determine whether NUE is outperforming or lagging the broader market.