Commercial Metals Co. (CMC) intrinsic value & 10-year financials
Commercial Metals Co. (CMC) has a Graham intrinsic value of $12.03 per share. At $64.98 on Oct 17, 2026, the stock trades 440% above that value. Over the last 10 fiscal years revenue grew 9.0% a year to $7.8B, with an average return on invested capital of 11.9%.
- Graham intrinsic value
- $12.03
- Share price (Oct 17, 2026)
- $64.98
- Price vs Graham value
- 440% above
- Market cap
- $7.4B
- Revenue (FY2025)
- $7.8B
- Revenue growth (10-yr CAGR)
- 9.0%
- ROIC (10-yr avg)
- 11.9%
- Free cash flow (FY2025)
- $312.2M
CMC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $7.8B | $84.7M | $0.74 | $312.2M | — | 1.9% |
| FY2024 | $7.9B | $485.5M | $4.14 | $575.4M | — | 10.5% |
| FY2023 | $8.8B | $859.8M | $7.25 | $737.4M | — | 20.6% |
| FY2022 | $8.9B | $1.2B | $9.95 | $250.3M | — | 37.3% |
| FY2021 | $6.7B | $412.9M | $3.38 | $44.3M | — | 15.8% |
| FY2020 | $5.5B | $279.5M | $2.32 | $603.6M | — | 11.0% |
| FY2019 | $5.8B | $198.1M | $1.66 | -$101.8M | — | 8.5% |
| FY2018 | $4.6B | $138.5M | $1.17 | -$16.0M | — | 7.1% |
| FY2017 | $3.8B | $46.3M | $0.39 | -$38.6M | — | 2.6% |
| FY2016 | $3.6B | $54.8M | $0.47 | $423.5M | — | 3.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
COMMERCIAL METALS Co is a consistent compounder, expanding top-line revenue at 9.0% annually over the past decade.
COMMERCIAL METALS Co returns on capital have been average, hovering around 11.9% ROIC over the decade.
COMMERCIAL METALS Co has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, COMMERCIAL METALS Co is modeled at 5.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $12.03 per share.