Revenue vs Net income
Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.
Margin trend
Gross, operating and net margin. Margins are derived from reported dollars.
Revenue YoY growth
Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).
Income statement
From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9B | $4.4B | $4.6B | $4.8B | $4.4B | $5.2B | $6.1B | $6.5B |
| YoY | — | — | — | — | +14.0% | +19.1% | +33.4% | +34.8% |
| Cost of goods sold | $3.4B | $3.9B | $3.9B | $4.1B | $3.9B | $4.4B | $5.1B | $5.2B |
| YoY | — | — | — | — | +13.2% | +14.4% | +30.0% | +28.4% |
| Gross profit | $441.7M | $486.5M | $618.5M | $757.9M | $529.3M | $763.2M | $959.0M | $1.3B |
| YoY | — | — | — | — | +19.8% | +56.9% | +55.1% | +69.2% |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $176.9M | $181.8M | $198.0M | $200.8M | $184.6M | $175.2M | $193.5M | $187.0M |
| YoY | — | — | — | — | +4.4% | -3.6% | -2.3% | -6.9% |
| Operating income | $237.5M | $275.1M | $382.9M | $507.8M | $310.2M | $538.0M | $700.5M | $1.0B |
| YoY | — | — | — | — | +30.6% | +95.6% | +82.9% | +98.2% |
| Pretax income | $244.0M | $280.7M | $387.9M | $513.8M | $310.6M | $513.2M | $683.5M | $978.6M |
| YoY | — | — | — | — | +27.3% | +82.8% | +76.2% | +90.5% |
| Income tax | $34.1M | $63.0M | $86.7M | $109.9M | $46.1M | $113.1M | $152.7M | $222.9M |
| YoY | — | — | — | — | +35.2% | +79.5% | +76.1% | +102.8% |
| Net income | $207.3M | $217.2M | $298.7M | $403.7M | $266.0M | $403.4M | $534.1M | $756.0M |
| YoY | — | — | — | — | +28.3% | +85.7% | +78.8% | +87.3% |
| EPS — basic | — | $1.45 | $2.01 | $2.75 | — | $2.79 | $3.71 | $5.29 |
| YoY | — | — | — | — | — | +92.4% | +84.6% | +92.4% |
| EPS — diluted | — | $1.44 | $2.01 | $2.74 | — | $2.78 | $3.69 | $5.26 |
| YoY | — | — | — | — | — | +93.1% | +83.6% | +92.0% |
| Weighted shares — basic | — | 150.3M | 148.4M | 146.9M | — | 144.8M | 144.0M | 143.0M |
| Weighted shares — diluted | — | 150.8M | 149.0M | 147.6M | — | 145.3M | 144.6M | 143.6M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $589.5M | $1.2B | $458.0M | $770.4M | $769.9M | $556.5M | $567.7M | $928.6M |
| YoY | — | — | — | — | +30.6% | -53.1% | +24.0% | +20.5% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.4B | $1.7B | $1.7B | $1.8B | $1.7B | $2.1B | $2.4B | $2.4B |
| YoY | — | — | — | — | +18.7% | +19.5% | +43.6% | +38.8% |
| Inventory | $3.1B | $3.1B | $3.3B | $3.2B | $3.7B | $3.9B | $4.0B | $4.2B |
| YoY | — | — | — | — | +20.1% | +26.1% | +21.3% | +33.0% |
| Total current assets | $5.4B | $6.2B | $5.7B | $6.1B | $6.5B | $6.8B | $7.3B | $8.0B |
| YoY | — | — | — | — | +19.4% | +9.3% | +27.9% | +31.8% |
| Total assets | $14.9B | $15.9B | $15.5B | $16.0B | $16.4B | $16.7B | $17.1B | $17.8B |
| YoY | — | — | — | — | +9.9% | +5.0% | +10.1% | +11.7% |
| Total current liabilities | $2.2B | $2.3B | $1.8B | $2.0B | $2.1B | $2.2B | $2.3B | $2.5B |
| YoY | — | — | — | — | -1.3% | -4.2% | +25.7% | +30.2% |
| Total liabilities | $6.0B | $7.1B | $6.7B | $7.0B | $7.5B | $7.6B | $7.8B | $8.1B |
| YoY | — | — | — | — | +25.0% | +6.9% | +15.6% | +15.2% |
| Total equity | $8.9B | $8.8B | $8.9B | $9.0B | $9.0B | $9.2B | $9.4B | $9.8B |
| YoY | — | — | — | — | +0.3% | +3.9% | +6.3% | +9.4% |
| Shares outstanding | 151.1M | 149.4M | 147.8M | 146.2M | 144.9M | 144.4M | 143.6M | 142.5M |
| YoY | — | — | — | — | -4.1% | -3.3% | -2.8% | -2.5% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $346.9M | $152.6M | $301.6M | $722.6M | $272.7M | $148.3M | $427.9M | $845.8M |
| YoY | — | — | — | — | -21.4% | -2.8% | +41.9% | +17.0% |
| Capital expenditures | $453.2M | $305.5M | $288.3M | $165.7M | $188.5M | $138.0M | $123.8M | $149.6M |
| YoY | — | — | — | — | -58.4% | -54.8% | -57.1% | -9.7% |
| Free cash flow | $-106.3M | $-152.9M | $13.3M | $556.9M | $84.2M | $10.3M | $304.1M | $696.2M |
| YoY | — | — | — | — | +179.2% | +106.7% | +2186.5% | +25.0% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $295.1M | $250.1M | $200.0M | $210.4M | $240.3M | $115.1M | $200.3M | $275.6M |
| YoY | — | — | — | — | -18.6% | -54.0% | +0.1% | +31.0% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 11.4% | 11.1% | 13.5% | 15.7% | 12.0% | 14.7% | 15.7% | 19.7% |
| Operating margin | 6.1% | 6.3% | 8.4% | 10.5% | 7.0% | 10.3% | 11.5% | 15.5% |
| Net margin | 5.4% | 5.0% | 6.5% | 8.4% | 6.0% | 7.8% | 8.8% | 11.6% |
| Free cash flow margin | -2.7% | -3.5% | 0.3% | 11.5% | 1.9% | 0.2% | 5.0% | 10.7% |
| Effective tax rate | 14.0% | 22.4% | 22.4% | 21.4% | 14.8% | 22.0% | 22.3% | 22.8% |
| Current ratio | 2.53x | 2.74x | 3.13x | 3.11x | 3.06x | 3.13x | 3.18x | 3.14x |
| Total liabilities / equity | 0.67x | 0.80x | 0.76x | 0.78x | 0.84x | 0.83x | 0.82x | 0.82x |
Peer comparison — latest full year
Same sector (Materials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| STLD FY25 · this stock | $18.2B | +3.6% | 13.2% | 8.1% | 6.5% | 2.8% |
| DOW FY25 | $40.0B | -7.0% | — | — | — | — |
| LIN FY25 | $34.0B | +3.0% | — | 26.3% | 20.3% | 15.0% |
| NUE FY25 | $32.5B | +5.7% | — | — | 5.4% | -0.6% |
| FCX FY25 | $25.9B | +1.8% | — | 25.2% | — | — |
| SHW FY25 | $23.6B | +2.1% | 48.8% | — | 10.9% | — |
| NEM FY25 | $22.7B | +21.3% | — | — | 31.3% | — |
| CTVA FY25 | $17.4B | +2.9% | — | — | 6.3% | — |
| ECL FY25 | $16.1B | +2.2% | — | 17.0% | 12.9% | 11.8% |
| PPG FY25 | $15.9B | +0.2% | — | — | 9.9% | 7.3% |
| MOS FY25 | $12.1B | +8.4% | 15.8% | 6.8% | 4.5% | -4.4% |
Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.