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U.S. Steel Industry Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies32
  • 7D-1.7%
  • 3M-6.4%
  • 1Y20.7%
  • YTDn/a

Over the last 7 days, the Steel industry has dropped 1.7%, driven by a pullback from Steel Dynamics of 4.4%. Meanwhile, Alpha Metallurgical Resources actually outperformed within the industry, gaining 7.1% in the last week. This takes the industry's 12 month performance to a gain of 21%. 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
Tue, 24 Mar 2026US$111.5bUS$127.1bUS$2.4b20.4x47.3x0.9x
Thu, 19 Feb 2026US$130.1bUS$127.1bUS$2.9b23.9x45.6x1x
Sat, 17 Jan 2026US$129.9bUS$127.6bUS$2.6b22.9x50x1x
Mon, 15 Dec 2025US$119.9bUS$127.4bUS$2.2b22.6x54.6x0.9x
Wed, 12 Nov 2025US$106.1bUS$127.3bUS$2.3b19.6x46.3x0.8x
Fri, 10 Oct 2025US$106.9bUS$125.9bUS$2.3b18.7x47.1x0.8x
Sun, 07 Sep 2025US$114.9bUS$128.7bUS$2.6b18.9x43.8x0.9x
Tue, 05 Aug 2025US$109.6bUS$129.1bUS$2.7b18.4x40x0.8x
Thu, 03 Jul 2025US$111.5bUS$132.6bUS$2.8b20.7x39.3x0.8x
Sat, 31 May 2025US$110.8bUS$147.8bUS$2.8b19.7x40.1x0.7x
Mon, 28 Apr 2025US$117.7bUS$155.3bUS$5.2b19.5x22.5x0.8x
Wed, 26 Mar 2025US$121.8bUS$155.5bUS$5.6b17.7x21.8x0.8x
Fri, 21 Feb 2025US$130.7bUS$157.1bUS$6.1b15.4x21.4x0.8x
Sun, 19 Jan 2025US$124.2bUS$160.3bUS$7.2b13.1x17.3x0.8x
Tue, 17 Dec 2024US$127.2bUS$163.2bUS$7.7b14.9x16.4x0.8x
Thu, 14 Nov 2024US$144.7bUS$163.8bUS$7.7b16.7x18.8x0.9x
Sat, 12 Oct 2024US$135.8bUS$168.9bUS$9.2b12x14.7x0.8x
Mon, 09 Sep 2024US$122.9bUS$168.9bUS$9.2b11x13.3x0.7x
Wed, 07 Aug 2024US$133.8bUS$169.1bUS$9.4b11.1x14.2x0.8x
Fri, 05 Jul 2024US$140.0bUS$173.0bUS$12.8b11x10.9x0.8x
Sun, 02 Jun 2024US$148.3bUS$173.5bUS$13.2b13.1x11.3x0.9x
Tue, 30 Apr 2024US$147.3bUS$174.1bUS$13.5b11.7x10.9x0.8x
Thu, 28 Mar 2024US$160.5bUS$174.9bUS$14.1b11.5x11.4x0.9x
Sat, 24 Feb 2024US$155.3bUS$173.4bUS$13.7b13.9x11.3x0.9x
Mon, 22 Jan 2024US$143.4bUS$175.6bUS$14.8b15.7x9.7x0.8x
Wed, 20 Dec 2023US$149.7bUS$175.8bUS$14.8b13x10.1x0.9x
Fri, 17 Nov 2023US$133.5bUS$177.0bUS$15.0b14.1x8.9x0.8x
Sun, 15 Oct 2023US$127.4bUS$180.7bUS$17.3b8.2x7.4x0.7x
Tue, 12 Sep 2023US$133.0bUS$181.3bUS$17.4b8.2x7.7x0.7x
Thu, 10 Aug 2023US$134.8bUS$181.4bUS$17.5b8.6x7.7x0.7x
Sat, 08 Jul 2023US$131.0bUS$185.9bUS$20.1b8.5x6.5x0.7x
Mon, 05 Jun 2023US$118.2bUS$186.6bUS$20.4b8.8x5.8x0.6x
Wed, 03 May 2023US$121.9bUS$186.4bUS$20.5b7.4x5.9x0.7x
Fri, 31 Mar 2023US$127.6bUS$191.8bUS$24.3b7x5.3x0.7x
Price to Earnings Ratio

5.3x


Total Market Cap: US$127.6bTotal Earnings: US$24.3bTotal Revenue: US$191.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Steel Industry Price to Earnings3Y Average 22x202420252026
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 47.3x which is higher than its 3-year average PE of 22.0x.
  • 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-1.74%
Materials-5.18%
Metals and Mining-9.15%
Steel-1.72%
Copper-8.08%
Diversified Metals and Mining-9.06%
Silver-10.45%
Gold-11.97%
Aluminum-14.12%
Precious Metals and Minerals-14.90%
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$95.5810.9%
+US$493.1m		95.6%PE88.2x
AMR Alpha Metallurgical ResourcesUS$217.9714.2%
+US$346.7m		67.4%PS1.3x
CMC Commercial MetalsUS$63.813.0%
+US$206.3m		31.5%PE16.2x
TX TerniumUS$38.922.2%
+US$166.9m		21.2%PE18x
NUE NucorUS$162.740.4%
+US$150.3m		27.6%PE21.3x

Latest News

STLD
US$169.70
Steel Dynamics
7D
-1.7%
1Y
32.6%
NUE
US$162.74
Nucor
7D
0.4%
1Y
27.6%
TX
US$38.92
Ternium
7D
2.2%
1Y
21.2%
METC
US$14.29
Ramaco Resources
7D
-0.2%
1Y
67.9%

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

Analysts have trimmed their average price target on Ramaco Resources, with recent cuts to $14 and $30. These changes reflect a slightly higher discount rate, mixed recent results, and a greater focus on execution risks around the revised rare earths and Brook Mine plans.
WS
US$33.93
Worthington Steel
7D
4.2%
1Y
28.8%

WS: Stable Assumptions And Firm P/E Outlook Will Support Future Upside

Analysts have maintained their $47.00 price target for Worthington Steel, citing largely unchanged assumptions for discount rate, revenue growth, profit margin, and future P/E ratio, which together support a consistent view of the stock's valuation. Valuation Changes Fair Value: remains at $47.00, reflecting an unchanged central valuation point.
CLF
US$8.31
Cleveland-Cliffs
7D
-0.5%
1Y
-11.6%

CLF: Tariff Support And Auto Contract Wins Will Shape Future Returns

The analyst price target for Cleveland-Cliffs has been adjusted slightly lower to reflect a new fair value estimate of about $13.08, as analysts weigh mixed rating changes, valuation concerns, and updated expectations for margins and future P/E multiples. Analyst Commentary Recent research on Cleveland-Cliffs reflects a divided view, with some analysts focusing on potential upside from pricing, tariffs, and growth initiatives, while others point to valuation, costs, and execution risks around upcoming results and leadership actions.
ZKIN
US$1.65
ZK International Group
7D
-11.6%
1Y
21.0%
RYZ
US$21.23
Ryerson Holding
7D
-0.6%
1Y
-9.1%
AMR
US$217.97
Alpha Metallurgical Resources
7D
14.2%
1Y
67.4%

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).
CMC
US$63.81
Commercial Metals
7D
3.0%
1Y
31.5%

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$95.58
Warrior Met Coal
7D
10.9%
1Y
95.6%

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$16.41
Metallus
7D
11.3%
1Y
20.7%

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).
LUD
US$3.37
Luda Technology Group
7D
-11.5%
1Y
-28.5%
HLP
US$0.98
Hongli Group
7D
-1.7%
1Y
-24.4%

Subdued Growth No Barrier To Hongli Group Inc. (NASDAQ:HLP) With Shares Advancing 34%

Feb 06
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MSB
US$31.27
Mesabi Trust
7D
-1.4%
1Y
12.6%
SRL
US$7.71
Scully Royalty
7D
-3.3%
1Y
-5.4%