Metallus Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Metallus Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	870	1,329	1,611	1,209	831	1,283	1,330	1,362	1,084	1,158
Cost of revenue	842	1,249	1,484	1,186	815	1,063	1,203	1,176	986	1,063
Gross profit	27.9	80.3	127	22.6	15.6	220	127	187	97.7	95.1
Research and development	8	8	8.1	4.1	1.8	1.7	0.8
Selling, general and administrative	90.2	90.5	98.2	91.8	76.7	77.2	73.8	84.6	87.7	94
Operating income	-62.6	-23.4	5.8
Interest expense	11.4	14.8	17.1	15.7	12.6	6.2	3.9	2.7
Interest income					0.4	0.3	3.3	9.8	12.1	6.7
Other non-operating income	-68	-4.1	-18.6	-23.3	14.2	59.5	90.6	-3.7	-5	0.9
Pre-tax income	-142	-29.8	-8.2	-126	-60.7	177	97.1	96.4	4.6	1.9
Income tax	-36.5	1.5	1.8	-16.1	1.2	5.7	32	27	3.3	3.1
Net income	-106	-31.3	-10	-110	-61.9	171	65.1	69.4	1.3	-1.2
EBITDA	12.3	51.5	78.8
EPS, basic	-1.69	-0.70	-0.22	-2.46	-1.38	3.73	1.42	1.58	0.03	-0.03
EPS, diluted	-1.69	-0.70	-0.22	-2.46	-1.38	3.18	1.30	1.47	0.03	-0.03
Shares, basic (weighted)	62.5	44.4	44.6	44.8	45	45.9	45.8	43.8	43.2	41.9
Shares, diluted (weighted)	62.5	44.4	44.6	44.8	45	55	51.5	47.8	44.3	41.9
Dividend per share	0.00	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	25.6	24.5	21.6	27.1	103	260	257	281	241	157
Receivables	91.6	150	163	77.5	63.3	101	79.4	113	90.8	126
Inventory	164	224	375	282	178	211	192	228	220	243
Other current assets	6.2	8	6.1	7.8	8.8	3.1	21.2	24.7	6.1	0.9
Total current assets	290	410	569	402	358	582	557	657	587	553
Property, plant and equipment	742	707	674	626	570	510	486	493	507	563
Lease right-of-use assets				14.3	21	14.5	12.5	11.4	11.7	11.4
Intangible assets	25	19.9	17.8	14.3	9.3	6.7	5	2.7	3.4	2.9
Other non-current assets	6.4	5.2	3.5	3.3	2.8	2.1	2.4	2	1.5	1.1
Total assets	1,070	1,157	1,275	1,085	994	1,159	1,082	1,175	1,117	1,140
Accounts payable	87	135	161	69.3	89.5	142	113	133	119	151
Accrued liabilities	20.3	32.4	36.8	13.9
Short-term debt					38.9	44.9	20.4	13.2	5.4
Total current liabilities	131	207	221	112	181	251	187	248	282	315
Long-term debt				169	39.3	0	0	0	0
Lease liabilities				8.2	13.5	8.8	6.5	6.4	6.9	7.3
Other non-current liabilities	13.1	12.7	11.7	10	11	9.5	13.5	13.4	13.3	12.1
Total liabilities	473	540	662	522	487	494	396	444	426	454
Total debt	70.2		74.1	169	78.2	44.9	20.4	13.2	5.4
Paid-in capital	846	844	846	845	843	832	847	844	844	850
Retained earnings	-194	-238	-192	-302	-363	-188	-123	-53.7	-52.4	-53.6
Treasury stock	-44.9	-37.4	-33	-24.9	-12.9	0	-52.1	-71.3	-109	-116
Other comprehensive income	-9.4	-7.6	-8.9	44.7	40.4	20.7	14.7	12.4	7.7	5.4
Shareholders' equity		617	613	563	508	665	687	732	691	686
Total equity	597	617	613	563	508	665	687	732	691	686
Total liabilities and equity	1,070	1,157	1,275	1,085	994	1,159	1,082	1,175	1,117	1,140

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-106	-31.3	-10	-110	-61.9	171	65.1	69.4	1.3	-1.2
Depreciation and amortization	74.9	74.9	73	73.5	70	63.1	58.3	56.9	54.1	56.6
Stock-based compensation	6.7	6.5	7.3	7.4	6.6	7.3	8.8	11.5	14	14.7
Deferred income tax	-36.8	-0.3	0.8	-16.6	0.1	1.2	24.9	-9.7	0.5	3.7
Change in receivables	-10.7	-58.2	-13.6	85.9	14.2	-37.2	21.3	-33.4	21.7	-34.7
Change in inventory	9.7	-72.3	-94.5	92.6	104	-41.6	18.8	-34.9	7.3	-22.9
Change in payables	37.5	45.7	24.4	-87.7	23.1	53.5	-33.2	15.3	-19.2	29.1
Cash from operations	74.4	8.1	18.5	70.3	174	197	135	125	40.3	16
Capital expenditures	-42.7	-33	-40	-38	-16.9	-12.2	-27.1	-51.6	-64.3	-109
Cash from investing	-42.7	-33	-39	-38	-6	-4.8	-21.7	-49.9	-10.8	-75.2
Debt issued	0	30
Debt repaid	-130	-5
Stock issued	0	0.2	0.2	0.2	0	4.1	8	2.8	1.4	0
Share buybacks	0	0			0	0	-52	-32.6	-37.6	-13.1
Dividends paid	0	0
Cash from financing	-48.5	23.8	17.6	-26.8	-91.8	-35.3	-115	-51.9	-68.9	-25.2
Exchange rate effect	0	0	0
Net change in cash	-16.8	-1.1	-2.9	5.5	75.7	157	-1.8	23.5	-39.4	-84.4
Free cash flow	31.7	-24.9	-21.5	32.3	157	185	107	73.7	-24	-93
Interest paid			11.8	11.5	7.6	5.1	3.1	2.1	2	1.1
Income taxes paid	0							25.3	27.9	-7.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $18.84 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	8.2%	Gross profit / revenue.
Pre-tax margin	0.8%	Pre-tax income / revenue.
Net margin	0.7%	Net income / revenue.
FCF margin	-8.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	0.5%	Cash from operations / revenue.
Effective tax rate	21.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	1.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.7%	Net income / average total assets.
SG&A / revenue	7.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	8.5%	Capital expenditures / revenue.
D&A / revenue	4.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-4.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-2.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-9.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	43.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-192.3%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-200.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-60.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-50.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-37.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-6.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.75x	Current assets / current liabilities.
Quick ratio	0.83x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.35x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	39.4%	Total liabilities / total assets.
Working capital	$236.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$689.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.07x	Revenue / average total assets.
Fixed asset turnover	2.16x	Revenue / average property, plant and equipment.
Inventory turnover	4.07x	Cost of revenue / average inventory.
Days inventory	90 days	365 x average inventory / cost of revenue.
Receivables turnover	8.00x	Revenue / average receivables.
Days sales outstanding	46 days	365 x average receivables / revenue.
Days payables	52 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	83 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-1,205.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	1,727.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.19	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$28.36	Revenue / diluted weighted shares.
FCF per share	-$2.26	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.14	Cash from operations / diluted weighted shares.
Book value per share	$16.06	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.00	Tangible book value / shares outstanding.
Cash per share	$2.52	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$780.9M	Share price x shares outstanding.
Enterprise value	$672.3M	Market cap + total debt - cash - short-term investments.
P/E	96.4x	Market cap / net income. Only when net income is positive.
P/S	0.64x	Market cap / revenue.
P/B	1.13x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.13x	Market cap / tangible book value, when positive.
P/OCF	130x	Market cap / cash from operations, when positive.
EV/Sales	0.55x	Enterprise value / revenue.
FCF yield	-12.5%	Free cash flow / market cap.
Earnings yield	1.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.5%	(Dividends paid + share buybacks) / market cap.

What was Metallus Inc.'s revenue in fiscal 2025?

Metallus Inc. reported revenue of $1.16B for fiscal 2025, 6.9% higher than the year before.

Was Metallus Inc. profitable in fiscal 2025?

No. It reported a net loss of $1.2M.

How much free cash flow did Metallus Inc. generate in fiscal 2025?

Cash from operations of $16.0M minus capital expenditures of $109.0M left free cash flow of -$93.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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