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Ternium S.A.

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Ternium S.A. • NYSE
$36.83 ▲ 0.74% (+0.27)
Market Cap $7.23 B
52w High $38.15
52w Low $24.00
Dividend Yield 2.70%
P/E 12.7
Volume 74.39K
Outstanding Shares 196.31M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.955B ▲ $392.989M ▼ $20.608M ▼ 0.521% ▼ $0.1 ▼ $424.121M ▲
Q2-2025 $3.947B ▲ $410.849M ▲ $215.446M ▲ 5.459% ▲ $1.1 ▲ $407.955M ▲
Q1-2025 $3.933B ▲ $399.124M ▼ $66.978M ▼ 1.703% ▼ $0.3 ▼ $403.499M ▼
Q4-2024 $3.876B ▼ $407.806M ▲ $280.853M ▲ 7.245% ▲ $1.43 ▲ $637.913M ▲
Q3-2024 $4.48B $402.947M $31.656M 0.707% $0.2 $473.936M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.76B ▼ $23.471B ▼ $7.171B ▼ $11.976B ▼
Q2-2025 $3.375B ▼ $23.919B ▲ $7.337B ▲ $12.004B ▼
Q1-2025 $3.755B ▼ $23.716B ▲ $7.179B ▲ $12.108B ▲
Q4-2024 $3.851B ▼ $23.129B ▼ $6.997B ▼ $11.968B ▲
Q3-2024 $3.857B $23.938B $7.612B $11.941B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 ▼ $0 ▼ $0 ▲ $0 ▲ $0 ▼ $0 ▼
Q2-2025 $259.315M ▲ $1.044B ▲ $-494.553M ▼ $-523.488M ▼ $26.513M ▼ $233.944M ▲
Q1-2025 $142M ▼ $207M ▼ $-273.37M ▼ $167M ▲ $139.92M ▲ $-311M ▼
Q4-2024 $332.771M ▲ $471.54M ▲ $-243.127M ▲ $-63.247M ▼ $77.01M ▲ $-89.566M ▲
Q3-2024 $31.275M $265.873M $-572.325M $190.46M $-112.554M $-146.341M

Five-Year Company Overview

Income Statement

Income Statement Ternium’s sales have stayed high and fairly stable in recent years, even as the steel cycle has cooled. The main story is pressure on profitability: production costs and weaker prices have squeezed margins, so operating profit is well below the boom levels seen a few years ago. Net income fell sharply from those peak years and most recently slipped into a small loss, showing how sensitive results are to steel prices and regional demand. Overall, the business still generates solid revenue, but earnings have become much thinner and more volatile as the cycle has turned down.

Balance Sheet

Balance Sheet The balance sheet looks robust and conservative for a steel company. Assets and shareholder equity have grown meaningfully over the period, indicating that past profits have largely been reinvested and retained. Debt levels are moderate relative to the size of the business and equity base, and cash holdings are healthy, giving the company flexibility to withstand downturns and finance large projects. In simple terms, Ternium appears financially sturdy, with a cushion against the industry’s ups and downs.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been consistently solid, even as profits have come down from peak levels. The key change is on the investment side: capital spending has ramped up significantly, which has eaten up most of the cash and left only a slim margin of free cash flow recently. This pattern suggests the company is in an investment-heavy phase, funding major projects out of its own cash generation. That is a positive sign for long‑term growth, but it temporarily tightens cash availability and raises execution risk around those projects.

Competitive Edge

Competitive Edge Ternium holds a strong position as a leading flat-steel producer in Latin America, with dominant market share in key countries like Mexico and Argentina. Its vertical integration—from mining to finished steel and service centers—helps control costs and improve reliability, an important edge in a cyclical, commodity-like business. Its locations in Mexico and the broader USMCA region are strategically attractive as manufacturers move production closer to North America. The recent exit of a large Mexican competitor further strengthens its local standing. However, the company remains exposed to regional economic swings, trade policies, and the typical cyclicality of steel demand and pricing, which can quickly change its earnings picture.

Innovation and R&D

Innovation and R&D Ternium is leaning heavily into technology and product innovation to differentiate itself from being just another steel producer. It runs a sizable R&D center in Mexico, partners with many universities and labs, and focuses on advanced high‑strength steels for autos, including electric vehicles. The shift toward “smart factories,” digital tools, and customer platforms aims to raise efficiency and deepen customer relationships. Its large new investment in a modern plant using direct reduced iron and electric furnaces is designed to produce higher-value steels with a lower carbon footprint and potential future use of green hydrogen and carbon capture. These moves could strengthen its moat and position it for stricter environmental rules, but they also demand large upfront spending and strong execution to pay off.

Summary

Ternium is a major Latin American steel producer with strong industrial roots, solid finances, and an ambitious modernization plan. Revenue remains high, but profits have come down sharply from prior peaks and briefly turned negative, highlighting the cyclical and volatile nature of the steel business. The balance sheet and cash generation provide resilience and the capacity to invest, and the company is clearly using that strength to build more advanced, efficient, and greener operations. Its scale, vertical integration, and strong position in USMCA markets are important competitive advantages, especially in a world of supply-chain reconfiguration. Key uncertainties center on global and regional steel demand, price cycles, political and regulatory risk in its core markets, and the successful delivery and ramp‑up of its large growth and decarbonization projects.

NEWS

November 5, 2025 · 12:30 AM UTC

Ternium to Acquire Nippon Groups' Remainder Participation in Usiminas' Control Group

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October 28, 2025 · 4:15 PM UTC

Ternium Announces Third Quarter and First Nine Months of 2025 Results

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