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MTUS

Metallus Inc.

MTUS

Metallus Inc. • NYSE
$16.91 ▼ -0.18% (-0.03)
Market Cap $704.28 M
52w High $18.50
52w Low $10.78
Dividend Yield 0%
P/E -93.94
Volume 120.62K
Outstanding Shares 41.65M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $305.9M ▲ $23M ▲ $8.1M ▲ 2.648% ▲ $0 ▼ $26.6M ▲
Q2-2025 $304.6M ▲ $22.9M ▼ $3.7M ▲ 1.215% ▲ $0.088 ▲ $23.1M ▲
Q1-2025 $280.5M ▲ $23.5M ▲ $1.3M ▲ 0.463% ▲ $0.03 ▲ $17.1M ▲
Q4-2024 $240.5M ▲ $20.4M ▼ $-21.4M ▼ -8.898% ▼ $-0.5 ▼ $-10.2M ▼
Q3-2024 $227.2M $22.5M $-5.9M -2.597% $-0.14 $7.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $191.5M ▲ $1.15B ▲ $452.7M ▲ $697.7M ▲
Q2-2025 $190.8M ▲ $1.112B ▲ $422M ▲ $690M ▲
Q1-2025 $180.3M ▼ $1.101B ▼ $415.4M ▼ $686.1M ▼
Q4-2024 $240.7M ▼ $1.117B ▼ $426.2M ▲ $690.5M ▼
Q3-2024 $254.6M $1.133B $420.7M $712.7M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $8.1M ▲ $22M ▼ $-18.4M ▼ $-3M ▲ $600K ▼ $-6.4M ▼
Q2-2025 $3.7M ▲ $34.8M ▲ $-12.7M ▲ $-12.4M ▼ $9.7M ▲ $17M ▲
Q1-2025 $1.3M ▲ $-38.9M ▼ $-12.9M ▼ $-8.2M ▲ $-60M ▼ $-66.4M ▼
Q4-2024 $-21.4M ▼ $13.9M ▲ $-7.2M ▼ $-20.7M ▼ $-14M ▲ $-1.3M ▲
Q3-2024 $-5.9M $-15.3M $17.9M $-20.1M $-17.5M $-32.9M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Manufactured Components
Manufactured Components
 $140.00M ▲$80.00M ▼$80.00M ▲$90.00M ▲
Other Products
Other Products
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Seamless Mechanical Tubing
Seamless Mechanical Tubing
 $60.00M ▲$30.00M ▼$30.00M ▲$30.00M ▲
Special Bar Quality Bars
Special Bar Quality Bars
 $320.00M ▲$170.00M ▼$190.00M ▲$190.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Metallus shows a classic cyclical pattern. Sales bounced back strongly after the downturn several years ago but eased off in the most recent year. Profitability followed a similar arc: solid profits for three years after an earlier loss, then a sharp squeeze in the latest period that left the company roughly at break-even. This suggests pressure on pricing or volumes, or both, and highlights how sensitive results are to swings in industrial and energy demand. The good news is that, even in a tougher year, the company stayed out of deep losses, but its margin profile has clearly weakened versus its recent peak.

Balance Sheet

Balance Sheet The balance sheet is a relative bright spot. Assets have stayed fairly stable, cash has built up meaningfully compared with earlier years, and debt has been brought down to low levels. Equity has steadily grown, indicating that prior years’ profits have largely been retained rather than paid out or diluted. Overall, Metallus looks financially sturdier than it did a few years ago, with much less reliance on borrowing and a bigger capital base to absorb volatility.

Cash Flow

Cash Flow Historically, Metallus has generated healthy cash flow from its operations, comfortably covering its investment needs in most years. The latest year is an exception: operating cash flow fell, while spending on plants and equipment stepped up, leading to slightly negative free cash flow. That points to an investment phase at a time of softer earnings. This can be constructive if the new capacity and technology pay off, but it does reduce short‑term financial flexibility and increases the importance of execution and demand recovery.

Competitive Edge

Competitive Edge Metallus is not a generic steel mill; it focuses on high-performance, specialty steels and mechanical tubing for demanding uses like aerospace, defense, energy, and industrial equipment. Its strength lies in deep metallurgical know‑how, highly customized products, and close integration with customers’ design and engineering teams. Advanced assets like its jumbo vertical caster and proprietary melting technologies create technical and capital barriers that make it harder for rivals to replicate its offer. At the same time, this niche focus ties Metallus closely to a smaller set of sophisticated customers and cyclical end markets, which can amplify ups and downs in demand.

Innovation and R&D

Innovation and R&D Innovation is central to Metallus’s strategy. The company has developed proprietary melting processes and a very wide catalog of steel grades, often tailored to specific customer problems in oil and gas, geothermal, renewables, and defense. It combines materials R&D with application engineering, helping customers design components around Metallus’s steels. Ongoing projects include advanced products for artillery shells, renewable energy gearboxes, and geothermal tools, as well as a digital “Business 4.0” transformation and expansion into high‑margin remelted steels. This positions the firm toward higher-value, more specialized segments, though it also requires sustained investment and careful prioritization.

Summary

Metallus today looks like a specialized, technology‑driven steel producer with a much stronger financial footing than a few years ago, but with earnings that remain quite cyclical. The recent year shows the downside of that cycle: softer revenue, compressed margins, and a dip in cash generation, just as the company is investing more heavily in its assets and systems. Offsetting this near‑term pressure, Metallus benefits from low debt, solid cash reserves, and a clear strategic focus on high‑value, defense and energy‑related applications where its technical capabilities and customization matter. Future performance will hinge on how effectively it converts its innovation pipeline, capital projects, and defense and renewable energy opportunities into steadier, higher‑margin business, while managing through inevitable swings in industrial demand.

NEWS

November 7, 2025 · 8:18 AM UTC

REMINDER: Metallus Announces Third-Quarter 2025 Earnings Webcast Details

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November 6, 2025 · 4:10 PM UTC

Metallus Announces Third-Quarter 2025 Results

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October 30, 2025 · 8:50 PM UTC

Metallus Extends Labor Contract by 90 Days Following USW Members' Rejection of Tentative Agreement

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October 3, 2025 · 5:07 PM UTC

Metallus and United Steelworkers (USW) Local 1123 Reach Tentative Agreement for New Four-Year Contract

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September 25, 2025 · 4:10 PM UTC

Metallus and the United Steelworkers (USW) Local 1123 Agree to Extend Contract

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