CMC
Basic MaterialsCommercial Metals Company · Steel · $8B
What is Commercial Metals Company?
Commercial Metals Company is a mid-cap steel manufacturer and recycler operating across the United States, Poland, China, and other international markets. The company sits at the intersection of steel production, metal recycling, and construction-related fabrication.
CMC generates revenue by processing ferrous and nonferrous scrap metals, manufacturing finished long steel products such as rebar and merchant bar, and selling fabricated steel used to reinforce concrete in construction projects. The company also rents and sells construction-related equipment and produces specialty steel products for the energy sector, truck trailer industry, and military applications. Its vertically integrated model — from scrap recycling through fabrication — helps manage raw material costs across the steel value chain.
Commercial Metals Company was founded in 1980 and is headquartered in Irving, Texas.
- Rebar, merchant bar, and light structural steel products
- Ferrous and nonferrous scrap metal processing and sales
- Fabricated steel products for commercial and infrastructure construction
- Specialty bar steels for energy and truck trailer markets
- Construction equipment and product rentals for concrete installers
Is CMC a Good Stock to Buy?
UQS Score rates CMC as Below Average overall, reflecting a mixed fundamental profile in a cyclical sector.
Valuation stands out as the most favorable pillar, suggesting the stock may be priced attractively relative to its fundamentals. Quality and Growth both register as Neutral, meaning CMC holds its own on operational consistency and near-term trajectory without standing out strongly in either direction.
The Moat pillar is rated Weak, pointing to limited durable competitive advantages in a commoditized steel market where pricing power is difficult to sustain.
Pro members can view the complete pillar breakdown and underlying financial metrics to form a more complete picture. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does CMC pay dividends?
Yes — Commercial Metals Company pays a dividend.
CMC pays a regular dividend, which is relatively uncommon among cyclical materials companies. This reflects a degree of financial discipline and a commitment to returning capital to shareholders even through industry cycles. Investors seeking income alongside exposure to the steel sector may find CMC's dividend policy worth examining in the context of the full UQS analysis.
When does CMC report earnings?
Commercial Metals Company reports earnings on a quarterly cadence, typical for US-listed equities.
CMC operates in a cyclical industry where quarterly results can shift meaningfully with steel pricing, construction demand, and scrap metal availability. The company's vertically integrated structure provides some buffer, but revenue and margins remain sensitive to broader economic conditions.
For the most recent quarter's results and guidance, visit Commercial Metals Company's investor relations page directly.
CMC Price History
+129.7% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Commercial Metals Company?
Based on Commercial Metals Company's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
CMC Long-term Outlook
CMC's Growth pillar is rated Neutral, suggesting a steady but not accelerating fundamental trajectory. The Neutral Risk rating indicates the company does not carry outsized financial or operational risk relative to peers, though the cyclical nature of steel markets remains a structural consideration. The Attractive Valuation pillar could provide a margin of safety if growth conditions improve, but the Weak Moat limits confidence in sustained outperformance over a long horizon.
Growth drivers
- Infrastructure and construction spending supporting domestic rebar and fabricated steel demand
- Vertical integration from scrap recycling through fabrication providing cost management levers
- International operations in Poland and China offering geographic diversification
Key risks
- Commodity price volatility in steel and scrap metal markets compressing margins
- Weak competitive moat limiting pricing power in a fragmented global steel industry
- Cyclical construction demand exposure creating revenue variability across economic cycles
CMC vs Peers
CMC competes in the global long steel and scrap metal markets alongside several large international producers.
Ternium focuses on flat steel products across Latin America, giving it a different end-market mix than CMC's construction-heavy rebar business.
Gerdau is a large Brazilian-based long steel producer with a significant North American footprint, making it one of CMC's most direct global competitors in rebar and merchant bar.
Cleveland-Cliffs is a vertically integrated US steel and iron ore producer with a stronger focus on flat-rolled steel and automotive supply chains than CMC's construction orientation.
Frequently Asked Questions
What does Commercial Metals Company do?
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products. Its core activities include processing scrap metal, producing long steel products like rebar and merchant bar, and supplying fabricated steel for construction projects such as buildings, bridges, and highways. It also serves specialty markets including energy, military, and truck trailer manufacturing.
Does CMC pay dividends?
Yes, CMC pays a regular dividend. This is notable for a company in the cyclical steel sector, where many peers prioritize capital reinvestment over shareholder distributions. The dividend reflects a degree of financial stability, though investors should review the current yield and payout history on CMC's investor relations page.
When does CMC report earnings?
Commercial Metals Company reports earnings on a quarterly cadence, consistent with US-listed public companies. Specific dates vary each quarter. For the most accurate and up-to-date earnings schedule, check CMC's investor relations page or a financial calendar service.
Is CMC a good stock to buy?
UQS Score rates CMC as Below Average overall. The Valuation pillar is Attractive, which may interest value-oriented investors, but the Weak Moat and Neutral Quality and Growth ratings suggest limited structural advantages. Whether CMC fits a portfolio depends on individual risk tolerance and investment goals — the full UQS breakdown is available to Pro members.
Is CMC overvalued?
Based on the UQS Valuation pillar, CMC is rated Attractive, suggesting the stock is not overvalued relative to its fundamentals at the time of scoring. However, valuation in cyclical industries like steel can shift quickly with commodity prices and construction demand. Pro members can access the detailed valuation metrics behind this rating.
How does CMC compare to its competitors?
CMC competes with global steel producers including Ternium, Gerdau, and Cleveland-Cliffs. CMC differentiates itself through its vertically integrated US operations — spanning scrap recycling through fabrication — and its focus on long steel products for the construction market. Larger global peers may have broader product lines or greater scale, but CMC's domestic footprint is a key operational anchor.
What is CMC's market cap bracket?
Commercial Metals Company is classified as a mid-cap company. This places it in a tier that typically offers more liquidity than small-cap peers while remaining more nimble than large-cap steel producers. Mid-cap stocks in cyclical sectors like steel can carry meaningful volatility tied to commodity and construction cycles.
Who founded Commercial Metals Company?
Commercial Metals Company was founded in 1980. Detailed founding history, including the names of original founders, is publicly available through the company's official corporate history and investor relations materials.
Is CMC a long-term quality stock?
As a long-term quality indicator, CMC's UQS profile presents a mixed picture. The Weak Moat rating suggests limited durable competitive advantages, which is a meaningful consideration for long-horizon investors. The Neutral Quality and Risk ratings indicate operational stability without standout characteristics. Pro members can explore the full pillar detail to assess long-term fit.
What is the main competitive advantage of Commercial Metals Company?
CMC's primary operational strength lies in its vertically integrated model — processing scrap metal and converting it into finished steel products — which provides some cost management capability. However, the UQS Moat pillar rates this advantage as Weak, reflecting the commoditized nature of the steel industry and the difficulty of sustaining pricing power over time.
What sector does CMC belong to?
CMC belongs to the Basic Materials sector, specifically within the steel and metals industry. This sector is highly cyclical, with performance closely tied to construction activity, infrastructure spending, commodity prices, and broader macroeconomic conditions. Investors in this sector should be comfortable with earnings variability across economic cycles.
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Pro Analysis
CMC — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 42.9 | 40.9 | 15.0 | 46.3 | 53.9 | 76.9 | -0.1 |
| May 22, 2026 | 43.0 | 40.9 | 15.0 | 46.3 | 53.9 | 77.6 | +0.1 |
| May 21, 2026 | 42.9 | 40.9 | 15.0 | 46.3 | 53.9 | 77.4 | -0.1 |
| May 20, 2026 | 43.0 | 40.9 | 15.0 | 46.3 | 53.9 | 77.6 | +0.1 |
| May 19, 2026 | 42.9 | 40.9 | 15.0 | 46.3 | 53.9 | 77.2 | +0.1 |
| May 16, 2026 | 42.8 | 40.9 | 15.0 | 46.3 | 53.9 | 76.5 | +0.2 |
| May 15, 2026 | 42.6 | 40.9 | 15.0 | 46.3 | 53.9 | 75.3 | -0.2 |
| May 14, 2026 | 42.8 | 40.9 | 15.0 | 46.3 | 53.9 | 76.7 | -0.1 |
| May 13, 2026 | 42.9 | 40.9 | 15.0 | 46.3 | 53.9 | 77.0 | +0.1 |
| May 12, 2026 | 42.8 | 40.9 | 15.0 | 46.3 | 53.9 | 76.2 | -0.1 |
CMC — Pillar Breakdown
Quality
— 40.9/100 (25%)Commercial Metals Company has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 46.3/100 (20%)Commercial Metals Company shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 53.9/100 (15%)Commercial Metals Company has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 80.9/100 (15%)Commercial Metals Company appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 15/100 (25%)Commercial Metals Company operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for CMC.
Score Composition
Financial Data
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How is the CMC UQS Score Calculated?
The UQS (Unified Quality Score) for Commercial Metals Company is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Commercial Metals Company's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Commercial Metals Company is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.