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U.S. Steel Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies33
  • 7D-2.6%
  • 3M-5.3%
  • 1Y22.6%
  • YTDn/a

Over the last 7 days, the Steel industry has dropped 2.6%, driven by pullbacks in Nucor and Steel Dynamics of 3.0% and 3.9%, respectively. This takes the industry's 12 month performance to a gain of 23%. Looking forward, earnings are forecast to grow by 26% annually.

Industry Valuation and Performance

Has the U.S. Steel Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Mar 2026US$113.6bUS$127.1bUS$2.4b20.2x48.2x0.9x
Mon, 16 Feb 2026US$130.6bUS$127.1bUS$3.0b23.6x44.2x1x
Wed, 14 Jan 2026US$124.4bUS$127.6bUS$2.6b22.2x47.9x1x
Fri, 12 Dec 2025US$119.5bUS$127.4bUS$2.3b21.7x52.2x0.9x
Sun, 09 Nov 2025US$106.7bUS$127.3bUS$2.3b19.7x46.6x0.8x
Tue, 07 Oct 2025US$105.8bUS$125.9bUS$2.3b18.6x46.7x0.8x
Thu, 04 Sep 2025US$114.4bUS$128.7bUS$2.6b18.6x43.7x0.9x
Sat, 02 Aug 2025US$112.2bUS$129.1bUS$2.7b18.4x41x0.9x
Mon, 30 Jun 2025US$110.4bUS$132.5bUS$2.7b20.2x41.6x0.8x
Wed, 28 May 2025US$110.6bUS$147.8bUS$2.8b19.4x39.9x0.7x
Fri, 25 Apr 2025US$114.4bUS$155.1bUS$5.1b19.5x22.3x0.7x
Sun, 23 Mar 2025US$118.1bUS$155.5bUS$5.6b16.8x21.1x0.8x
Tue, 18 Feb 2025US$129.0bUS$158.4bUS$6.4b15.5x20.1x0.8x
Thu, 16 Jan 2025US$121.2bUS$160.3bUS$7.2b13.1x16.9x0.8x
Sat, 14 Dec 2024US$131.3bUS$163.2bUS$7.7b15.4x17.1x0.8x
Mon, 11 Nov 2024US$148.6bUS$163.9bUS$7.7b17.1x19.3x0.9x
Wed, 09 Oct 2024US$137.1bUS$168.9bUS$9.2b11.7x14.9x0.8x
Fri, 06 Sep 2024US$125.0bUS$169.0bUS$9.3b10.9x13.5x0.7x
Sun, 04 Aug 2024US$135.9bUS$169.1bUS$9.6b11.3x14.2x0.8x
Tue, 02 Jul 2024US$139.0bUS$173.0bUS$13.0b10.9x10.7x0.8x
Thu, 30 May 2024US$147.8bUS$173.5bUS$13.2b12.7x11.2x0.9x
Sat, 27 Apr 2024US$147.3bUS$174.3bUS$13.4b11.3x11x0.8x
Mon, 25 Mar 2024US$156.7bUS$174.9bUS$14.1b11.7x11.1x0.9x
Wed, 21 Feb 2024US$150.9bUS$173.6bUS$13.6b13.6x11.1x0.9x
Fri, 19 Jan 2024US$143.3bUS$175.5bUS$14.8b15.5x9.7x0.8x
Sun, 17 Dec 2023US$143.0bUS$175.8bUS$14.8b12x9.6x0.8x
Tue, 14 Nov 2023US$130.7bUS$176.9bUS$15.0b13.3x8.7x0.7x
Thu, 12 Oct 2023US$133.6bUS$181.0bUS$17.4b8.7x7.7x0.7x
Sat, 09 Sep 2023US$136.2bUS$181.3bUS$17.4b8.2x7.8x0.8x
Mon, 07 Aug 2023US$134.9bUS$181.4bUS$17.6b8.9x7.7x0.7x
Wed, 05 Jul 2023US$133.5bUS$185.9bUS$20.1b8.6x6.6x0.7x
Fri, 02 Jun 2023US$112.2bUS$186.6bUS$20.4b8.6x5.5x0.6x
Sun, 30 Apr 2023US$123.0bUS$186.8bUS$20.6b7.5x6x0.7x
Tue, 28 Mar 2023US$126.0bUS$191.7bUS$24.3b6.5x5.2x0.7x
Price to Earnings Ratio

5.2x


Total Market Cap: US$126.0bTotal Earnings: US$24.3bTotal Revenue: US$191.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Steel Industry Price to Earnings3Y Average 21.9x202420252026
Current Industry PE
  • Investors are optimistic on the American Steel industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 48.2x which is higher than its 3-year average PE of 21.9x.
  • The industry is trading close to its 3-year average PS ratio of 0.81x.
Past Earnings Growth
  • The earnings for companies in the Steel industry have declined 54% per year over the last three years,
  • Revenues have also declined 13% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does U.S. Steel compare with similar industries?

US Market-1.86%
Materials-6.49%
Metals and Mining-10.67%
Steel-2.56%
Copper-9.52%
Aluminum-10.63%
Diversified Metals and Mining-11.88%
Silver-12.31%
Gold-13.97%
Precious Metals and Minerals-17.84%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
HCC Warrior Met CoalUS$88.544.0%
+US$179.8m		89.8%PE81.7x
AMR Alpha Metallurgical ResourcesUS$193.693.1%
+US$74.6m		54.9%PS1.2x
ASTL Algoma Steel GroupUS$3.573.2%
+US$11.5m		-42.0%PS0.2x
MTUS MetallusUS$14.821.0%
+US$5.8m		14.7%PS0.5x
FRD Friedman IndustriesUS$17.402.3%
+US$2.8m		1.2%PE8x

Latest News

TX
US$37.48
Ternium
7D
-0.7%
1Y
18.6%

TX: Higher Required Return And Richer P/E Will Shape Balanced Outlook

Analysts have nudged their price target on Ternium slightly higher to about $40.19 from roughly $39.88, reflecting updated views on discount rates, modestly adjusted revenue growth expectations, and a small change in assumed profit margins and future price-to-earnings ratios. Valuation Changes Fair Value: Ternium's estimated fair value is now $40.19, compared with the prior figure of $39.88, indicating only a small adjustment.
NUE
US$158.58
Nucor
7D
-3.0%
1Y
30.0%
RYZ
US$19.94
Ryerson Holding
7D
-5.0%
1Y
-12.9%
AMR
US$193.69
Alpha Metallurgical Resources
7D
3.1%
1Y
54.9%

AMR: Heavy Buybacks And Preliminary Loss Guidance Will Shape Future Returns

Analysts have raised their price target on Alpha Metallurgical Resources to $207 from $205, reflecting updated assumptions that incorporate revised inputs for the discount rate, revenue growth, profit margin, and future P/E. What's in the News Share repurchases from October 1, 2025 to December 31, 2025 totaled 113,000 shares, about 0.87% of the company, for $20 million under the existing buyback program (Key Developments).
STLD
US$163.95
Steel Dynamics
7D
-3.9%
1Y
33.7%
CMC
US$60.18
Commercial Metals
7D
-1.4%
1Y
29.2%

CMC: Share Repurchases Will Support Higher Future P/E And Upside Potential

Analysts have maintained their $69.02 price target for Commercial Metals, noting that updated assumptions around discount rate, revenue growth, profit margin, and future P/E broadly offset each other and support the existing valuation view. What's in the News From October 1, 2025 to November 30, 2025, Commercial Metals repurchased 663,220 shares for $38.9 million, equal to 0.6% of its shares.
HCC
US$88.54
Warrior Met Coal
7D
4.0%
1Y
89.8%

HCC: Blue Creek Mine Ramp Up Will Likely Limit Further Share Upside

Analysts have raised their average price target for Warrior Met Coal to around $101. This reflects a series of recent upward revisions that indicate slightly stronger expected growth and profitability assumptions in their models.
MTUS
US$14.82
Metallus
7D
1.0%
1Y
14.7%

MTUS: Buybacks And New Labor Agreement Will Support Upside Into 2026

Analysts have modestly lifted their price target on Metallus to $18.00, reflecting small adjustments to assumptions for discount rate, revenue growth, profit margin and future P/E that leave their fair value view unchanged at $18.00. What's in the News From October 1, 2025 to December 31, 2025, Metallus repurchased 70,701 shares, representing 0.17% of shares, for US$1.21 million under its existing buyback program (company disclosure).
METC
US$13.45
Ramaco Resources
7D
-7.9%
1Y
53.0%

METC: Brook Mine Rare Earths Execution Will Drive Future Upside Potential

Analysts have lifted their Ramaco Resources fair value estimate from $27.00 to $50.00. This reflects updated assumptions around Brook Mine risk, higher discount rates, and the shifted timeline and execution focus for the rare earths and semiconductor materials strategy highlighted in recent research.
CLF
US$7.82
Cleveland-Cliffs
7D
-7.6%
1Y
-17.0%

CLF: Tariff Support And Auto Contract Wins Will Drive Future Upside

Analysts have adjusted their Cleveland-Cliffs price targets in a tight range, with small upward and downward moves of roughly $0.10 to $2. They are weighing mixed views on sector valuation, CEO stock sales, steel pricing expectations, and the company's cost profile and longer term opportunities.
ASTL
US$3.57
Algoma Steel Group
7D
3.2%
1Y
-42.0%
RS
US$290.56
Reliance
7D
-2.3%
1Y
4.7%
FRD
US$17.40
Friedman Industries
7D
2.3%
1Y
1.2%