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Nucor vs Tenaris: revenue, profit, margins and growth compared

Nucor brought in $32.5B of revenue in fiscal 2025, Tenaris $12B in fiscal 2025. Revenue changed by +5.7% at Nucor and -4.3% at Tenaris on the year before, so Nucor grew faster. Nucor kept 5.4% of its revenue as net profit, Tenaris 16.1%.

Side by side, latest fiscal year

NUETS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$32.5B$12B
Revenue growth+5.7%-4.3%
Net income$1.7B$1.9B
Net margin5.4%16.1%
Free cash flow-$188Mn/a
Free cash flow margin-0.6%n/a
Earnings per share (diluted)$7.52n/a
Cash$2.3B$572.6M
Debt$66M$305.7M
Price to earnings32.4n/a
Market value$55.2B$30.1B
Dividend yield0.91%n/a
Rank by revenue in sector#20 of 587 · Industrials#59 of 587 · Industrials

Over the years

Revenue
NUE FY2018: $25.1BNUE FY2019: $22.6BNUE FY2020: $20.1BNUE FY2021: $36.5BNUE FY2022: $41.5BNUE FY2023: $34.7BNUE FY2024: $30.7BNUE FY2025: $32.5BTS FY2018: $7.7BTS FY2019: $7.3BTS FY2019: $5.1BTS FY2021: $6.5BTS FY2022: $11.8BTS FY2023: $14.9BTS FY2024: $12.5BTS FY2025: $12BFY18FY19FY20FY21FY22FY23FY24FY25
NUE $32.5BTS $12B
Net income
NUE FY2018: $2.4BNUE FY2019: $1.3BNUE FY2020: $721.5MNUE FY2021: $6.8BNUE FY2022: $7.6BNUE FY2023: $4.5BNUE FY2024: $2BNUE FY2025: $1.7BTS FY2018: $876.1MTS FY2019: $742.7MTS FY2019: -$634.4MTS FY2021: $1.1BTS FY2022: $2.6BTS FY2023: $3.9BTS FY2024: $2BTS FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
NUE $1.7BTS $1.9B
Net margin
NUE FY2018: 9.4%NUE FY2019: 5.6%NUE FY2020: 3.6%NUE FY2021: 18.7%NUE FY2022: 18.3%NUE FY2023: 13.0%NUE FY2024: 6.6%NUE FY2025: 5.4%TS FY2018: 11.4%TS FY2019: 10.2%TS FY2019: -12.3%TS FY2021: 16.9%TS FY2022: 21.7%TS FY2023: 26.4%TS FY2024: 16.3%TS FY2025: 16.1%FY18FY19FY20FY21FY22FY23FY24FY25
NUE 5.4%TS 16.1%
Revenue growth
NUE FY2019: -9.9%NUE FY2020: -10.8%NUE FY2021: +81.2%NUE FY2022: +13.8%NUE FY2023: -16.4%NUE FY2024: -11.5%NUE FY2025: +5.7%TS FY2019: -4.8%TS FY2019: -29.4%TS FY2021: +26.7%TS FY2022: +80.4%TS FY2023: +26.4%TS FY2024: -15.8%TS FY2025: -4.3%FY19FY20FY21FY22FY23FY24FY25
NUE +5.7%TS -4.3%
Free cash flow
NUE FY2018: $1.4BNUE FY2019: $1.3BNUE FY2020: $1.2BNUE FY2021: $4.6BNUE FY2022: $8.1BNUE FY2023: $4.9BNUE FY2024: $806MNUE FY2025: -$188MFY18FY19FY20FY21FY22FY23FY24FY25
NUE -$188MTS

Fiscal years as each company reports them; the two may end in different months.

Questions about Nucor and Tenaris

Which is bigger by revenue, Nucor or Tenaris?

Nucor is bigger by revenue: $32.5B in fiscal 2025, against $12B for Tenaris in fiscal 2025.

Which keeps more of its revenue as profit, Nucor or Tenaris?

Nucor had a net margin of 5.4% in fiscal 2025; Tenaris had 16.1% in fiscal 2025.

Which grew revenue faster, Nucor or Tenaris?

In their latest fiscal years revenue changed by +5.7% at Nucor and -4.3% at Tenaris.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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