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IIIN

Insteel Industries, Inc.

IIIN

Insteel Industries, Inc. • NYSE
$30.58 ▼ -0.16% (-0.05)
Market Cap $593.62 M
52w High $41.64
52w Low $22.49
Dividend Yield 2.15%
P/E 14.56
Volume 70.72K
Outstanding Shares 19.41M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $177.444M ▼ $9.708M ▼ $14.55M ▼ 8.2% ▼ $0.75 ▼ $23.925M ▼
Q3-2025 $179.886M ▲ $10.607M ▼ $15.159M ▲ 8.427% ▲ $0.78 ▲ $24.477M ▲
Q2-2025 $160.656M ▲ $10.8M ▲ $10.23M ▲ 6.368% ▲ $0.53 ▲ $17.941M ▲
Q1-2025 $129.72M ▼ $7.887M ▲ $1.081M ▼ 0.833% ▼ $0.055 ▼ $1.642M ▼
Q4-2024 $134.304M $7.47M $4.669M 3.476% $0.24 $10.076M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $38.63M ▼ $462.65M ▼ $91.118M ▼ $371.532M ▲
Q3-2025 $53.665M ▲ $471.892M ▲ $115.684M ▲ $356.208M ▲
Q2-2025 $28.424M ▼ $421.86M ▲ $80.447M ▲ $341.413M ▲
Q1-2025 $35.951M ▼ $404.699M ▼ $73.049M ▲ $331.65M ▼
Q4-2024 $111.538M $422.552M $71.697M $350.855M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $14.55M ▼ $-17.007M ▼ $3.137M ▲ $-1.165M ▼ $-15.035M ▼ $-18.73M ▼
Q3-2025 $15.159M ▲ $28.505M ▲ $-2.473M ▼ $-791K ▲ $25.241M ▲ $26.908M ▲
Q2-2025 $10.23M ▲ $-3.318M ▼ $-2.399M ▲ $-1.81M ▲ $-7.527M ▲ $-5.544M ▼
Q1-2025 $1.081M ▼ $18.983M ▲ $-73.939M ▼ $-20.631M ▼ $-75.587M ▼ $16.316M ▲
Q4-2024 $4.669M $16.229M $-1.763M $-673K $13.793M $14.54M

Revenue by Products

Product Q3-2025Q4-2025
Welded Wire Reinforcement
Welded Wire Reinforcement
 $120.00M ▲$310.00M ▲
Prestressed Concrete Strand
Prestressed Concrete Strand
 $60.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Insteel’s income statement shows a clearly cyclical business that is still consistently profitable. Revenue has swung up and down over the past few years with the construction and steel cycles, peaking during the recent building boom and then easing off. Profit margins were exceptionally strong at the peak, then compressed as demand normalized and costs moved around, but they have remained positive. Recent and near-term results suggest earnings are recovering from the post-peak slowdown, though not back to the prior boom level. Overall, this looks like a mature, volume-driven industrial business whose profits move meaningfully with the cycle but do not disappear in weaker years.

Balance Sheet

Balance Sheet The balance sheet looks conservative and resilient. Total assets have stayed fairly steady, and shareholder equity has built up over time, which indicates that the company has been retaining value rather than eroding it. Cash levels were quite high recently and have since come down, likely as funds were used for investments or working capital, but liquidity still appears sound. Debt was essentially absent for years, with only a small amount showing up lately, leaving leverage very low. This combination of strong equity and minimal borrowing provides a solid cushion against industry downturns and supports ongoing investment.

Cash Flow

Cash Flow Cash generation has been uneven but generally healthy, again reflecting the cyclical nature of the business. In strong years, operating cash flow has been robust, easily covering investment needs. In softer or more volatile periods, cash flow from operations has been thinner but has usually remained positive. Capital spending has been moderate and focused on improving plants and processes, which has allowed free cash flow to stay positive in most years, with only a brief dip when spending and working capital needs were elevated. Overall, the company appears to manage cash prudently, funding its investments largely from internal resources.

Competitive Edge

Competitive Edge Insteel holds a leading position in its niche: steel wire reinforcement for concrete. Its advantages come from scale, a reputation in a specialized category, and a broad manufacturing footprint across the United States. Being one of the lowest-cost producers is central to its strategy, helped by efficient plants, technology investments, and the ability to spread fixed costs over meaningful volume. The national network of facilities helps reduce shipping costs and improve service, which matters in heavy, low-value-per-pound products. Strategic acquisitions have deepened its reach and strengthened its product portfolio. The main ongoing risks are exposure to cyclical construction demand, swings in steel prices, potential import competition, and customer sensitivity to pricing in what remains a fairly commoditized space. But within that environment, Insteel appears to operate from a position of strength.

Innovation and R&D

Innovation and R&D Innovation at Insteel is practical and operations-focused rather than lab-heavy. The company has invested steadily in advanced manufacturing equipment, automation, and precision systems to raise productivity, cut scrap, and improve product consistency. These upgrades support its low-cost position and quality reputation. On the product side, offerings like engineered structural mesh and related engineering services give customers an alternative to traditional reinforcing methods that can save time and materials. The company also differentiates itself through integrated services—design, detailing, and project support—rather than just selling standard wire products. Future spending plans emphasize further efficiency gains, better information systems, and expansion of value-added engineered products. This is more about continuous, compounding improvement than breakthrough inventions, but it reinforces the moat over time.

Summary

Insteel comes across as a disciplined, cycles-exposed industrial company with a strong niche position. The income statement shows profits that rise and fall with construction and steel markets but remain positive, backed by cost discipline. The balance sheet is conservative, with high equity and very low debt, providing resilience and flexibility. Cash flow has been solid overall, funding ongoing investments in plants and technology without heavy reliance on borrowing. Competitively, Insteel benefits from scale, a national footprint, cost leadership, and specialized products and services that go beyond commodity steel wire. Its innovation efforts are focused on process efficiency and engineered solutions that deepen customer relationships. The key considerations are its sensitivity to construction cycles and input costs versus its structural strengths in cost, scale, and product differentiation.

NEWS

November 11, 2025 · 4:15 PM UTC

Insteel Industries Declares Regular Quarterly and Special Cash Dividends

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October 16, 2025 · 6:30 AM UTC

Insteel Industries Reports Fourth Quarter 2025 Results

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September 16, 2025 · 10:00 AM UTC

Insteel Industries Announces Fourth Quarter 2025 Conference Call

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