Commercial Metals Company
CMC Industrials Metal Fabrication
Commercial Metals Company’s revenue for fiscal 2026 (year ended August 2026) was $9.4 billion, up 20.5% from fiscal 2025. In the quarter to August 2026, revenue grew 25.7%, EPS grew 41.3%, free cash flow grew 21.8% and total debt rose 149.6%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
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Commercial Metals Company (CMC) Altman Z-score
Commercial Metals Company's Altman Z-score for fiscal 2026 is 2.95, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.95 | (0.94) |
| FY2025 | 3.89 | (0.44) |
| FY2024 | 4.33 | (0.42) |
| FY2023 | 4.76 | 0.49 |
| FY2022 | 4.26 | 0.27 |
| FY2021 | 3.99 | 0.56 |
| FY2020 | 3.43 | 0.02 |
| FY2019 | 3.40 | (0.20) |
| FY2018 | 3.60 | 0.27 |
| FY2017 | 3.34 | 0.31 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.21 | — | 0.25 | |
| Retained earnings / total assets | 0.50 | — | 0.69 | |
| EBIT / total assets | 0.08 | — | 0.28 | |
| Market value of equity / total liabilities | 1.35 | — | 0.81 | |
| Sales / total assets | 0.92 | — | 0.92 | |
| Altman Z-score | Grey zone | 2.95 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.46 | ||
Z and Z″ put Commercial Metals Company in different zones: grey zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MLI Mueller Industries, Inc. compare | 19.2× |
| CRS Carpenter Technology Corporation compare | 14.2× |
| PRLB Proto Labs, Inc. compare | 9.6× |
| ATI ATI Inc. compare | 4.8× |
| GPGI CompoSecure, Inc. compare | 3.7× |
| WOR Worthington Enterprises, Inc. compare | 3.6× |
| CMC Commercial Metals Company | 3.0× |
| ESAB ESAB Corporation compare | 2.9× |
| RYZ Ryerson Holding Corporation compare | 2.8× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets