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Ternium S.A.

TX Basic Materials Steel

Ternium S.A.’s revenue for fiscal 2025 (year ended December 2025) was $15.6 billion, down 11.6% from fiscal 2024. In the quarter to June 2026, revenue grew 9.97%, EPS grew 59.1%, free cash flow fell 174.7% and total debt rose 19.1%, each against the same quarter a year earlier.

57.10 0.22 +0.39%
Market cap
$11.2B
P/E
16.0×
Fwd P/E
9.2×
Dividend yield
3.85%
F-score
5/9
Altman Z
2.44
Beneish M
−2.85
Dividend safety
20/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.01%

Capital & Financial Ratios $m

Market Cap 11,170.00
Revenue 16,003.60
Net Income 738.37
Free Cash Flow (470.04)
Net Debt 246.13
Current Ratio 2.58 (at or above 1.5: strong)
Debt/Equity 0.18 (at or below 0.5: strong)
P/E ratio 16.04
Fwd P/E 9.17
P/S ratio 0.70
P/B ratio 0.67
Past 5Y EPS Growth (11.38%) (below 0%: weak)
This Y EPS Growth 184.29% (at or above 15%: strong)
Next Y EPS Growth 18.43% (at or above 15%: strong)
Next Y revenue growth 11.56% (at or above 10%: strong)
Next 5Y EPS Growth 53.99% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, against a ten-year median of 0.5×; over the ten years it ranged from 0.2× in 2022 to 1.0× in 2017.
P/E against its own 10 years 82.05%
10-year low 10-year high
P/S against its own 10 years 88.20%
10-year low 10-year high
P/B against its own 10 years 59.01%
10-year low 10-year high
EV/Sales against its own 10 years 72.91%
10-year low 10-year high

Dividends

Payout Ratio 0.62
Annual Dividend Rate 2.20
Annual Dividend Yield 3.85%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.64
1.30
2025 2.70
1.80
0.90
2024 3.10
2.20
0.90
2023 2.90
1.80
1.10
2022 2.70
1.80
0.90
2021 2.90
2.10
0.80
2020 1.20
1.20
2019 1.20
1.20
2018 1.10
1.10
2017 1.00
1.00
2016 0.90
0.90
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3,837 3,856 3,174 2,758
Receivables 2,752 2,335 2,358 2,647
Inventory 4,948 4,751 4,094 4,395
Other 493 137 171 75
12,031 11,078 9,796 9,876
2023 2024 2025 Q'26
Payables 2,233 1,926 2,073 2,036
ST’ Debt 940 670 604 638
Other 438 1,090 1,168 1,039
3,801 3,839 3,934 3,823

Compound Annual Growth %

10y 5y 3y
Sales 7.08% 12.31% (1.66%)
Cash Flow 5.74% 5.61% (5.63%)
Earnings 48.55% (11.39%) (37.81%)
Book Value 12.89% 13.85% 5.46%

Revenue $m

Mar Jun Sep Dec Year
’26 3,934 4,340 — — —
’25 3,933 3,947 3,955 3,775 15,609
’24 4,778 4,514 4,480 3,876 17,649
’23 3,623 3,871 5,185 4,931 17,610
’22 4,305 4,438 4,125 3,546 16,414
’21 3,249 3,920 4,592 4,330 16,091
’20 2,271 1,746 2,139 2,580 8,735
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 217 256 — — —
’25 207 1,044 535 528 2,314
’24 475 656 303 472 1,906
’23 636 127 1,020 718 2,501
’22 692 (5) 1,034 1,032 2,753
’21 328 628 586 1,135 2,677
’20 443 504 460 355 1,761
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (188) (175) — — —
’25 (310) 234 (172) 65 (183)
’24 27 248 (143) (89) 43
’23 433 (103) 591 122 1,043
’22 568 (166) 898 874 2,174
’21 199 467 476 1,014 2,155
’20 185 393 389 235 1,202
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.09 1.75 — — —
’25 0.34 1.10 0.10 0.62 2.17
’24 1.84 (3.71) 0.16 1.43 (0.27)
’23 1.91 3.19 (3.77) 2.11 3.44
’22 3.95 4.07 0.78 0.20 9.00
’21 3.07 5.21 6.12 5.08 19.49
’20 (0.06) 0.22 0.74 3.06 3.97
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 10.28 22.17 25.52 16.12 9.59 26.41 26.01 29.60 28.40 24.00

Analyst estimates 2026–2028

Powerpack
High 27.00 33.39 42.43 32.26 31.42 56.86 50.36 45.81 44.44 39.00
People
People Employees 16,725 21,255 20,660 20,061 20,173 20,142 20,510 34,458 33,949 33,253
Revenue/emp, $m 0.43 0.46 0.55 0.51 0.43 0.80 0.80 0.51 0.52 0.47
Income, $m
Income, $m Revenue 7,224 9,700 11,455 10,193 8,735 16,091 16,414 17,610 17,649 15,609
Gross margin, % 25.46 23.68 25.94 17.07 18.72 38.50 23.93 20.21 16.37 15.08
EBT 1,118 1,360 2,032 827 1,159 5,764 2,667 1,321 728 648
EBT margin, % 15.48 14.02 17.74 8.11 13.27 35.82 16.24 7.50 4.12 4.15
Net income 707 1,023 1,662 630 868 4,367 2,093 986 174 303
Depreciation 407 474 589 661 631 592 616 658 743 788
Per share, $
Per share, $ Revenue 36.80 49.41 58.35 51.92 44.50 81.97 83.62 89.71 89.91 79.51
Earnings 3.03 4.51 7.67 2.87 3.97 19.49 9.00 3.44 (0.27) 2.17
Cash flow 5.60 1.96 8.86 8.39 8.97 13.64 14.02 12.74 9.71 11.79
Capex (2.21) (2.08) (2.65) (5.36) (2.85) (2.66) (2.95) (7.43) (9.49) (12.72)
Free cash flow 3.39 (0.12) 6.21 3.04 6.12 10.98 11.08 5.31 0.22 (0.93)
Book value 26.32 29.81 38.13 39.30 43.01 62.33 70.14 85.64 82.18 82.26
Shares, m 196 196 196 196 196 196 196 196 196 196
Valuation, ×
Valuation, × P/E 8.08 7.25 3.45 7.72 7.34 2.23 3.33 12.10 0.00 17.68
P/S 0.67 0.66 0.46 0.42 0.65 0.53 0.36 0.46 0.32 0.48
P/B 0.93 1.10 0.71 0.56 0.68 0.70 0.43 0.49 0.35 0.46
EV/Sales 0.79 0.95 0.62 0.60 0.72 0.48 0.22 0.38 0.24 0.44
EV/FCF 8.56 (378.12) 5.84 10.19 5.27 3.56 1.64 6.40 98.47 (37.58)
Cash, $m
Cash, $m Operating cash flow 1,100 384 1,739 1,648 1,761 2,677 2,753 2,501 1,906 2,314
Capex (434) (408) (519) (1,051) (559) (522) (579) (1,458) (1,863) (2,497)
Free cash flow 665 (24) 1,220 596 1,202 2,155 2,174 1,043 43 (183)
Balance, $m
Balance, $m Working capital 859 1,565 2,597 2,408 2,708 5,391 6,627 8,230 7,239 5,862
Total debt 1,219 3,291 2,103 2,487 1,975 1,694 1,222 2,335 2,394 2,557
Net debt 890 2,818 1,807 1,753 622 (877) (2,307) (1,502) (1,462) (617)
Shareholders’ equity 5,167 5,853 7,485 7,715 8,443 12,235 13,768 16,812 16,132 16,148
Returns, %
Returns, % ROA 7.27 8.67 12.21 4.43 6.04 25.54 10.22 3.24 (0.23) 1.82
ROIC 11.78 10.50 14.18 5.71 7.44 29.01 14.72 8.97 5.38 2.84
ROE 11.95 16.08 22.59 7.42 9.64 37.00 13.59 4.42 (0.33) 2.63
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Ternium S.A. vs peers in Steel (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NUE Nucor Corporation $57.8B 20.4× 16.9× +22.95% (above 0%: growing) +94.23% (above 0%: growing) +549.46% (above 0%: growing) 19.56% 15.67% Compare
MT ArcelorMittal $48.0B 26.4× 14.7× +5.24% (above 0%: growing) −61.70% (below 0%: shrinking) −126.60% (below 0%: shrinking) 10.95% 6.29% Compare
STLD Steel Dynamics, Inc. $34.5B 21.7× 17.8× +33.44% (above 0%: growing) +84.58% (above 0%: growing) +2,189.86% (above 0%: growing) 15.74% 11.50% Compare
RS Reliance, Inc. $20.8B 23.8× 20.2× +26.51% (above 0%: growing) +42.57% (above 0%: growing) −45.43% (below 0%: shrinking) 28.09% 9.54% Compare
PKX POSCO Holdings Inc. $16.7B 20.8× — +9.70% (above 0%: growing) +271.43% (above 0%: growing) −156.79% (below 0%: shrinking) 8.62% 4.25% Compare
TX Ternium S.A. $11.2B 16.0× 9.2× +9.97% (above 0%: growing) +59.09% (above 0%: growing) −174.72% (below 0%: shrinking) 21.68% 12.17%
CLF Cleveland-Cliffs Inc. $6.9B — (loss-making) — (loss-making) +5.92% (above 0%: growing) n/m +208.96% (above 0%: growing) 2.53% (0.94%) Compare
GGB Gerdau S.A. $6.3B 21.8× — +14.33% (above 0%: growing) +87.50% (above 0%: growing) +171.99% (above 0%: growing) 15.83% 13.05% Compare
SIM Grupo Simec, S.A. de C.V. $4.6B 23.3× 28.5× +29.60% (above 0%: growing) n/m +51.13% (above 0%: growing) 24.99% 15.91% Compare
Median of peers $18.7B 21.8× 17.8× +18.64% +86.04% +111.56% 15.79% 10.52%

All 21 Steel stocks →

Ternium S.A. (TX) key facts

  • Concern: Ternium S.A.’s revenue for fiscal 2025 (year ended December 2025) was $15.6 billion, down 11.6% from fiscal 2024.
  • Strength: Net income was $303.1 million, or $2.17 per share (basic), a net margin of 2.72%.
  • Ternium S.A. (TX) is a Steel company in the Basic Materials sector, traded in the US as an ADR.
  • As of October 16, 2026, TX traded at $57.10, a market capitalization of $11.2 billion.
  • At that price the stock trades at 16.0× trailing-twelve-month earnings and 0.7× sales; its P/E is higher than 82% of its own readings over the past ten years.
  • Ternium S.A. pays an annual dividend of $2.20 per share, a yield of 3.85%, with a payout ratio of 61.8%.
  • Return on equity was 2.63% and debt-to-equity 0.18.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.44 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Ternium S.A. (TX) Latest News

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stockrow.com/TX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com