2024 was the safest year in Nucor's history. We have the fewest number of recordable and reportable injuries on record, and our injury and illness rate declined for the seventh consecutive year.
— Leon Topalian
03Detailed Report
NUE
Company NUE
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 27, 2026
Swipe to view all report sections
Executive Summary
Nucor reported a solid Q4 2024 despite a challenging year-for-pricing environment, delivering net earnings of $287 million ($1.22 per share) on revenue of $7.08 billion. Year-to-date, management highlighted that 2024 was the safest year in company history, reinforcing its cultural value while underpinning operating stability as capital deployment accelerated. EBITDA for the quarter was $745 million, contributing to an annual EBITDA near $4.4 billion, with net income for the year around $2.0 billion and annual earnings of $8.46 per share.
Key Performance Indicators
Revenue
Decreasing
7.08B
QoQ: -4.95% | YoY: -13.04%
Gross Profit
Decreasing
627.00M
8.86% margin
QoQ: -17.28% | YoY: -58.84%
Operating Income
Decreasing
386.96M
QoQ: -24.61% | YoY: -67.15%
Net Income
Decreasing
287.03M
QoQ: 14.85% | YoY: -66.03%
EPS
Decreasing
1.22
QoQ: 16.19% | YoY: -64.74%
Revenue Trend
Margin Analysis
Financial Highlights
Overview of key financials with YoY and QoQ context:
- Revenue: $7.076B in Q4 2024, YoY change -13.0%, QoQ change -4.95%.
- Gross Profit: $627M with a gross margin of 8.86%; YoY gross profit down 58.8%, QoQ down 17.3%.
- Operating Income: $386.963M; operating margin 5.47%; YoY -67.15%, QoQ -24.61%.
- Net Income: $287.032M; net margin 4.06%; YoY -66.03%, QoQ +14.85%.
- EPS (diluted): $1.22; YoY -64.74%, QoQ +16.19%.
- EBITDA: $745.063M; EBITDA margin 10.53% for the quarter.
- Cash flow: Operating cash flow $733.368M; Capex $879.141M; Free cash flow negative $145.773M; Net change in cash -$704.799M; Cash balance at period end $3.558B.
- Balance sheet (selected): Total assets $33.94B; cash & equivalents $3.558B; total debt $6.95B; net debt $3.392B. Equity $20.294B; current ratio 2.51; debt-to-capital ~25.5%; interest coverage 7.4x.
- Per-share and efficiency metrics: EPS $1.22; ROA 0.85%; ROE 1.41%; asset turnover 0.208; gross margin 8.86%; operating margin 5.47%.
Notes: YoY and QoQ figures derive from the company-reported income metrics; margins and leverage reflect quarterly variations driven by product mix, volumes, and pricing shifts in steel mill vs. downstream segments.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
7.08B
-13.04%
-4.95%
Gross Profit
627.00M
-58.84%
-17.28%
Operating Income
386.96M
-67.15%
-24.61%
Net Income
287.03M
-66.03%
14.85%
EPS
1.22
-64.74%
16.19%
Key Financial Ratios
Gross Profit Margin
Weak
8.86%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Fair
5.47%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
4.06%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
0.85%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
1.41%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
2.51
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Moderate
0.34
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Fair Value
23.79x
P/E ratio in line with market averages
Price to Book
Fair Value
1.35x
Price-to-book ratio reasonable for profitable companies
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.