NUCOR CORP（NUE）の決算・業績分析
NUCOR CORPの2025年有価証券報告書をAI分析。売上高$32.5B(+5.7%)。Materials。
目次
NUCOR CORPの2025年度 業績サマリー
NUCOR CORP（証券コード: NUE）の2025年度決算・業績分析。売上高は$32.5B（前年比+5.7%）。純利益は$1.7B（前年比-14.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
NUCOR CORPの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- NUCOR CORP achieved record revenue of $41.5B in FY2024, reflecting a 13.8% YoY increase (XBRL).
- Net income surged to $7.6B (+11.4% YoY), with a robust net margin of 18.3% (XBRL).
- Free cash flow reached $8.1B, driven by $10.1B in operating cash flow and $1.9B in capital expenditures (XBRL).
- The company maintains a strong equity ratio of 64.5% and a debt-to-equity ratio of 0.63x (XBRL).
- ROE of 36.3% underscores efficient capital utilization despite a 0.0% operating margin (XBRL).
NUCOR CORPの売上高変化の要因
- •FY2024 revenue of $41.5B marked a 13.8% YoY increase from $36.5B in FY2023 (XBRL). Over five years, revenue grew at a 6.7% CAGR, with net income expanding at a 13.9% CAGR (XBRL). The historical time series shows revenue growth from $25.1B in FY2020 to $41.5B in FY2024, though FY2025 revenue is projected at $34.7B (XBRL). Segment-specific revenue data is not disclosed in the provided data (N/A).
NUCOR CORPの営業利益変化の要因
- •Profitability metrics include a 4.8% gross margin, 0.0% operating margin, and 18.3% net margin (XBRL). EBITDA of $828M (2.0% of revenue) reflects narrow operating income of $1M (XBRL). Net income grew 11.4% YoY to $7.6B, despite a 0.0% operating margin, suggesting significant non-operating gains or cost controls (XBRL). Gross profit of $2.0B remains stable, though margin compression is evident compared to prior years (N/A).
NUCOR CORPの事業リスクと対応
Global steel overcapacity risks: Overcapacity could increase U.S. steel imports, lowering prices and margins (10-K).
Cyclical industry risks: Steel demand is tied to economic cycles, exposing Nucor to recession risks (10-K).
Regulatory/tariff risks: Section 232 tariffs may be modified, impacting import volumes and pricing (10-K).
Competitive risks: Intense competition from domestic and foreign producers, as well as substitutes like aluminum, threatens market share (10-K).
Economic downturn risks: Slower growth in construction, automotive, and energy sectors could reduce steel demand (10-K).
New risk: February 2025 executive order reimposing 25% Section 232 tariffs on steel imports introduces policy uncertainty (10-K).
NUCOR CORPの事業内容
NUCOR CORP is a leading North American steel manufacturer specializing in steel production using scrap steel as its primary raw material (10-K). Its core segments include steel mills (61% of sales), which produce sheet, plate, and structural steel; steel products such as merchant bar and pre-engineered buildings; and raw materials like ferrous/non-ferrous scrap (10-K). Key customers are steel service centers and fabricators in North America, with 80% of steel mill shipments directed to external customers in FY2024 (10-K). Nucor's competitive advantages include its status as the largest U.S. steel recycler, cost-effective scrap utilization, and a diversified product portfolio (10-K).
NUCOR CORPのAI業績分析レポート（2024年度）
Annual Report Analysis: NUCOR CORP (NUE) FY2024
Highlights
Business Overview
NUCOR CORP is a leading North American steel producer using scrap steel as its primary raw material (10-K). Its segments include steel mills (61% of sales), steel products, and raw materials (10-K). Key customers are service centers and fabricators, with no significant customer concentration (10-K). Competitive advantages include scrap recycling efficiency and a diversified product portfolio (10-K).
Revenue Analysis
FY2024 revenue of $41.5B reflects a 13.8% YoY increase from $36.5B in FY2023 (XBRL). Over five years, revenue grew at a 6.7% CAGR, with net income expanding at a 13.9% CAGR (XBRL). Historical data shows revenue rising from $25.1B in FY2020 to $41.5B in FY2024, though FY2025 revenue is projected at $34.7B (XBRL). Segment-specific revenue data is not disclosed (N/A).
Profitability Analysis
Profitability metrics include a 4.8% gross margin, 0.0% operating margin, and 18.3% net margin (XBRL). EBITDA of $828M (2.0% of revenue) reflects narrow operating income of $1M (XBRL). Net income grew 11.4% YoY to $7.6B, despite a 0.0% operating margin, suggesting significant non-operating gains or cost controls (XBRL). Gross profit of $2.0B remains stable, though margin compression is evident compared to prior years (N/A).
Balance Sheet Analysis
Total assets rose to $32.5B in FY2024, with equity at $20.9B (64.5% equity ratio) (XBRL). The company maintains a strong current ratio of 3.57x and $6.4B in cash (XBRL). Total liabilities are implied at $11.6B (32.5B - 20.9B), resulting in a debt-to-equity ratio of 0.63x (XBRL).
Cash Flow Analysis
Operating cash flow reached $10.1B, with $8.1B in free cash flow after $1.9B in capital expenditures (XBRL). Investing cash flow was -$5.7B, likely reflecting asset acquisitions, while financing cash flow was -$2.5B, driven by $534M in dividends and $2.8B in share repurchases (XBRL).
Working Capital Analysis
The cash conversion cycle (CCC) was 71 days, with 26 days of receivables, 70 days of inventory, and 25 days of payables (XBRL).
Risks
Outlook
N/A.
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