Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Steel Industry Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies33
  • 7D-3.9%
  • 3M-3.8%
  • 1Y19.7%
  • YTDn/a

Over the last 7 days, the Steel industry has dropped 3.9%, driven by a pullback from Steel Dynamics of 6.1%. In contrast, Warrior Met Coal has gained 10%. In the past year, the industry has gained 20%. As for the next few years, earnings are expected to grow by 27% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Mar 2026US$116.3bUS$127.1bUS$2.4b20.8x48.1x0.9x
Mon, 09 Feb 2026US$139.8bUS$128.8bUS$2.7b25.1x50.9x1.1x
Wed, 07 Jan 2026US$122.6bUS$127.4bUS$2.2b23x54.8x1x
Fri, 05 Dec 2025US$119.2bUS$127.4bUS$2.3b21.2x51.9x0.9x
Sun, 02 Nov 2025US$109.9bUS$127.3bUS$2.3b20.3x48x0.9x
Tue, 30 Sep 2025US$116.5bUS$128.8bUS$2.6b19.3x44.2x0.9x
Thu, 28 Aug 2025US$116.4bUS$128.7bUS$2.6b18.6x44.4x0.9x
Sat, 26 Jul 2025US$114.4bUS$129.6bUS$2.3b20.2x49.8x0.9x
Mon, 23 Jun 2025US$105.2bUS$132.6bUS$2.7b19.6x39.3x0.8x
Wed, 21 May 2025US$113.7bUS$147.8bUS$2.8b20.4x41x0.8x
Fri, 18 Apr 2025US$109.7bUS$155.6bUS$5.6b16.8x19.6x0.7x
Sun, 16 Mar 2025US$121.9bUS$155.7bUS$5.7b17.1x21.4x0.8x
Tue, 11 Feb 2025US$124.1bUS$158.4bUS$6.5b15.3x19x0.8x
Thu, 09 Jan 2025US$121.2bUS$162.9bUS$7.4b13.5x16.5x0.7x
Sat, 07 Dec 2024US$140.6bUS$163.2bUS$7.7b15.7x18.4x0.9x
Mon, 04 Nov 2024US$134.7bUS$166.0bUS$7.7b14.1x17.6x0.8x
Wed, 02 Oct 2024US$136.4bUS$168.9bUS$9.2b11.9x14.8x0.8x
Fri, 30 Aug 2024US$132.3bUS$169.0bUS$9.3b12.1x14.3x0.8x
Sun, 28 Jul 2024US$145.4bUS$169.7bUS$11.3b12.3x12.9x0.9x
Tue, 25 Jun 2024US$137.1bUS$173.1bUS$13.1b11x10.5x0.8x
Thu, 23 May 2024US$148.8bUS$173.5bUS$13.1b12.9x11.3x0.9x
Sat, 20 Apr 2024US$154.3bUS$174.5bUS$14.0b11.3x11x0.9x
Mon, 18 Mar 2024US$151.5bUS$175.0bUS$14.2b12.1x10.7x0.9x
Wed, 14 Feb 2024US$146.5bUS$173.9bUS$14.1b11.9x10.4x0.8x
Fri, 12 Jan 2024US$143.9bUS$175.6bUS$14.8b15.9x9.7x0.8x
Sun, 10 Dec 2023US$134.7bUS$175.7bUS$14.8b12.4x9.1x0.8x
Tue, 07 Nov 2023US$132.4bUS$176.9bUS$15.0b11.3x8.8x0.7x
Thu, 05 Oct 2023US$132.4bUS$181.0bUS$17.4b8.4x7.6x0.7x
Sat, 02 Sep 2023US$140.1bUS$181.3bUS$17.4b9x8.1x0.8x
Mon, 31 Jul 2023US$136.3bUS$180.0bUS$17.5b9.6x7.8x0.8x
Wed, 28 Jun 2023US$129.0bUS$186.1bUS$20.1b9.2x6.4x0.7x
Fri, 26 May 2023US$112.9bUS$186.5bUS$20.4b8.9x5.5x0.6x
Sun, 23 Apr 2023US$126.5bUS$189.3bUS$22.8b6.4x5.5x0.7x
Tue, 21 Mar 2023US$123.3bUS$191.9bUS$24.4b5.9x5x0.6x
Price to Earnings Ratio

5x


Total Market Cap: US$123.3bTotal Earnings: US$24.4bTotal Revenue: US$191.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Steel Industry Price to Earnings3Y Average 21.6x202420252026
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 48.1x which is higher than its 3-year average PE of 21.6x.
  • 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-1.64%
Materials-2.69%
Metals and Mining-5.87%
Steel-3.89%
Aluminum3.80%
Diversified Metals and Mining-3.64%
Silver-3.87%
Copper-6.71%
Gold-6.97%
Precious Metals and Minerals-11.73%
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$85.1210.0%
+US$407.9m		72.9%PE78.5x
AMR Alpha Metallurgical ResourcesUS$187.8611.4%
+US$246.4m		43.0%PS1.1x
METC Ramaco ResourcesUS$14.604.1%
+US$38.9m		52.7%PS1.8x
MSB Mesabi TrustUS$31.595.3%
+US$20.9m		17.8%PE24.1x
SXC SunCoke EnergyUS$6.021.7%
+US$8.5m		-35.8%PS0.3x

Latest News

AMR
US$187.86
Alpha Metallurgical Resources
7D
11.4%
1Y
43.0%
HCC
US$85.12
Warrior Met Coal
7D
10.0%
1Y
72.9%
NUE
US$163.48
Nucor
7D
-3.1%
1Y
23.8%

NUE: Modernization Spending And Tariff Support Will Shape Future Earnings Power

Analysts have nudged their price target on Nucor higher to about $187 per share, reflecting updated views on its modernization spend, the mix shift toward higher value products, and expectations that the company’s multi year organic growth plans could support a stronger through cycle profitability profile, even as some firms flag a fuller valuation and a slightly lower assumed future P/E multiple. Analyst Commentary Recent research on Nucor gives you a mixed picture, with some analysts leaning into the growth story around modernization and higher value products, while others are becoming more cautious on valuation after a strong run.
WS
US$32.31
Worthington Steel
7D
-13.9%
1Y
21.3%
SXC
US$6.02
SunCoke Energy
7D
1.7%
1Y
-35.8%

SXC: Industrial Services Performance Will Sustain Earnings Power Despite Volume Headwinds

Analysts have trimmed their price target on SunCoke Energy to $9 from $10, pointing to Q4 adjusted EBITDA of $56.7m that came in below expectations. Strength in Industrial Services helped to offset softer logistics and Domestic Coke volumes.
METC
US$14.60
Ramaco Resources
7D
4.1%
1Y
52.7%

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$8.46
Cleveland-Cliffs
7D
-13.9%
1Y
-18.6%

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.
STLD
US$170.60
Steel Dynamics
7D
-6.1%
1Y
34.2%

STLD: Tariff Policy And 2026 Outlook Will Guide Capacity And BlueScope Bid

Narrative update The updated analyst price target for Steel Dynamics of about $195, up from roughly $193, reflects refreshed 2026 outlooks in recent research. Analysts point to firm steel pricing supported by tariffs, capacity driven share gains for domestic mills, and mixed to positive expectations for sector profitability.
RYZ
US$20.98
Ryerson Holding
7D
-16.1%
1Y
-10.3%
TX
US$37.73
Ternium
7D
-3.6%
1Y
14.6%

TX: Higher Future P/E Assumption Will Support Stronger Upside Potential

Analysts have lifted their price target on Ternium from $43.00 to $50.00. This change reflects updated assumptions around revenue growth, profit margins, the discount rate, and a higher future P/E multiple.
CMC
US$61.06
Commercial Metals
7D
-6.3%
1Y
31.8%

CMC: Share Repurchases And Higher P/E Assumptions Will Shape Fair Value Outlook

Analysts have raised their price target on Commercial Metals from $66.00 to approximately $69.02, citing updated assumptions related to discount rates, revenue growth, profit margins and future P/E levels. What's in the News From October 1, 2025 to November 30, 2025, Commercial Metals repurchased 663,220 shares for $38.9 million, representing 0.6% of its shares.
RS
US$297.44
Reliance
7D
-1.9%
1Y
5.2%
INHD
US$1.14
Inno Holdings
7D
11.8%
1Y
-99.0%
ZKIN
US$1.75
ZK International Group
7D
25.0%
1Y
34.6%
MSB
US$31.59
Mesabi Trust
7D
5.3%
1Y
17.8%