NYSE : TX
Ternium S.A. — Financial statements
Materials · Steel · Luxembourg
Last price 52.77 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 10.36B
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Financial statements
Ternium S.A. (TX) reported revenue of 16.00B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 16.00B | 15.61B | 17.65B | 17.61B | 16.41B | 16.09B |
| Cost of Revenue | 13.18B | 13.27B | 14.77B | 12.35B | 12.50B | 9.90B |
| Gross Profit | 2.83B | 2.34B | 2.88B | 5.26B | 3.92B | 6.19B |
| Selling, General & Admin | 1.38B | 1.36B | 1.42B | 1.23B | 924.62M | 729.02M |
| Amortization of Goodwill & Intangibles | 56.22M | 56.64M | 43.20M | 37.13M | 26.39M | 39.37M |
| Other Operating Expenses | 147.93M | 176.76M | 152.06M | 180.63M | 156.30M | 122.91M |
| Operating Expenses | 1.63B | 1.64B | 1.67B | 1.52B | 1.12B | 905.80M |
| Operating Income | 1.19B | 704.96M | 1.20B | 3.74B | 2.80B | 5.28B |
| Interest Expense | -204.34M | -214.39M | -196.18M | -125.38M | -46.74M | -27.00M |
| Interest & Investment Income | 220.51M | 237.53M | 297.82M | 255.01M | 75.14M | 62.91M |
| Earnings From Equity Investments | 81.53M | 85.64M | 69.11M | 105.31M | 37.11M | 400.73M |
| Currency Exchange Gain (Loss) | -71.08M | -56.51M | -104.02M | 98.04M | -163.74M | -36.76M |
| Other Non Operating Income (Expenses) | -68.96M | -66.95M | -46.07M | -1.21B | -13.11M | 17.51M |
| EBT Excluding Unusual Items | 1.15B | 690.28M | 1.22B | 2.86B | 2.69B | 5.70B |
| Merger & Restructuring Charges | -1.71B | |||||
| Gain (Loss) on Sale of Investments | 48.55M | 74.90M | -145.77M | 1.90M | 78.31M | 75.80M |
| Asset Writedown | -99.00M | |||||
| Legal Settlements | -103.44M | -116.94M | -349.73M | 59.65M | 1.07M | -11.76M |
| Other Unusual Items | 108.70M | |||||
| Pretax Income | 1.10B | 648.24M | 728.00M | 1.32B | 2.67B | 5.76B |
| Income Tax Expense | 356.79M | 345.14M | 554.22M | 334.41M | 573.73M | 1.40B |
| Earnings From Continuing Operations | 738.37M | 303.10M | 173.78M | 986.37M | 2.09B | 4.37B |
| Minority Interest in Earnings | -38.87M | 122.14M | -227.45M | -310.33M | -325.26M | -542.12M |
| Net Income | 699.50M | 425.23M | -53.67M | 676.04M | 1.77B | 3.83B |
| Net Income to Common | 699.50M | 425.23M | -53.67M | 676.04M | 1.77B | 3.83B |
| Shares Outstanding (Basic) | 196.31M | 196.31M | 196.31M | 196.31M | 196.31M | 196.31M |
| Shares Outstanding (Diluted) | 196.31M | 196.31M | 196.31M | 196.31M | 196.31M | 196.31M |
| EPS (Basic) | 3.56 | 2.17 | -0.27 | 3.44 | 9.00 | 19.49 |
| EPS (Diluted) | 3.56 | 2.17 | -0.27 | 3.44 | 9.00 | 19.49 |
| Free Cash Flow | -474.45M | -187.23M | 40.74M | 1.04B | 2.17B | 2.15B |
| Free Cash Flow Per Share | -2.42 | -0.95 | 0.21 | 5.30 | 11.07 | 10.97 |
| Dividend Per Share | 1.30 | 2.20 | 2.70 | 3.30 | 2.70 | 2.60 |
| Gross Margin | 17.66% | 15.00% | 16.30% | 29.85% | 23.88% | 38.46% |
| Operating Margin | 7.45% | 4.52% | 6.82% | 21.22% | 17.04% | 32.83% |
| Profit Margin | 4.37% | 2.72% | -0.30% | 3.84% | 10.77% | 23.77% |
| Free Cash Flow Margin | -2.96% | -1.20% | 0.23% | 5.91% | 13.23% | 13.38% |
| EBITDA | 1.88B | 1.40B | 1.88B | 4.44B | 3.44B | 5.87B |
| EBITDA Margin | 11.76% | 8.98% | 10.64% | 25.20% | 20.93% | 36.51% |
| D&A For EBITDA | 689.70M | 696.16M | 674.90M | 700.01M | 638.61M | 591.79M |
| EBIT | 1.19B | 704.96M | 1.20B | 3.74B | 2.80B | 5.28B |
| EBIT Margin | 7.45% | 4.52% | 6.82% | 21.22% | 17.04% | 32.83% |
| Effective Tax Rate | 32.58% | 53.24% | 76.13% | 25.32% | 21.52% | 24.24% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.43B | 1.53B | 1.69B | 1.85B | 1.65B | 1.28B |
| Short-Term Investments | 1.30B | 1.60B | 2.16B | 1.98B | 1.88B | 1.29B |
| Cash & Short-Term Investments | 2.73B | 3.13B | 3.85B | 3.82B | 3.53B | 2.57B |
| Accounts Receivable | 2.01B | 1.54B | 1.56B | 2.07B | 1.18B | 1.77B |
| Other Receivables | 706.88M | 913.64M | 816.72M | 1.09B | 609.78M | 316.36M |
| Receivables | 2.71B | 2.45B | 2.38B | 3.16B | 1.79B | 2.08B |
| Inventory | 4.40B | 4.09B | 4.75B | 4.95B | 3.47B | 3.91B |
| Other Current Assets | 35.28M | 122.15M | 97.49M | 105.40M | 54.97M | 47.62M |
| Total Current Assets | 9.88B | 9.80B | 11.08B | 12.03B | 8.84B | 8.61B |
| Property, Plant & Equipment | 10.97B | 10.41B | 8.38B | 7.64B | 6.26B | 6.43B |
| Long-Term Investments | 614.06M | 562.91M | 491.50M | 728.20M | 922.29M | 818.75M |
| Goodwill | 662.31M | 662.31M | 662.31M | 662.31M | 662.31M | |
| Other Intangible Assets | 1.04B | 340.05M | 359.80M | 333.74M | 282.10M | 239.95M |
| Long-Term Accounts Receivable | 4.84M | 4.26M | 229.00K | |||
| Long-Term Deferred Tax Assets | 1.28B | 1.04B | 1.19B | 1.71B | 200.24M | 160.75M |
| Other Long-Term Assets | 764.12M | 803.90M | 961.30M | 1.07B | 318.69M | 177.80M |
| Total Assets | 24.55B | 23.62B | 23.13B | 24.18B | 17.49B | 17.10B |
| Accounts Payable | 2.04B | 2.07B | 1.93B | 2.24B | 1.19B | 1.13B |
| Accrued Expenses | 255.71M | 282.56M | 313.28M | 320.60M | 322.92M | |
| Current Portion of Long-Term Debt | 638.17M | 604.40M | 670.07M | 940.45M | 499.17M | 822.74M |
| Current Portion of Leases | 46.71M | 48.50M | 46.46M | 52.17M | 49.02M | 44.37M |
| Current Income Taxes Payable | 64.04M | 39.34M | 106.88M | 137.39M | 135.70M | 873.76M |
| Other Current Liabilities | 1.04B | 912.28M | 807.19M | 121.06M | 24.23M | 23.90M |
| Total Current Liabilities | 3.82B | 3.93B | 3.84B | 3.80B | 2.22B | 3.21B |
| Long-Term Debt | 2.21B | 1.81B | 1.56B | 1.21B | 532.70M | 656.47M |
| Long-Term Leases | 160.19M | 138.03M | 163.67M | 188.91M | 190.13M | 215.25M |
| Pension & Post-Retirement Benefits | 774.45M | 647.34M | 766.65M | 489.05M | 465.73M | |
| Long-Term Deferred Tax Liabilities | 23.23M | 24.28M | 88.71M | 170.82M | 162.74M | 186.22M |
| Other Long-Term Liabilities | 1.60B | 781.79M | 698.06M | 1.23B | 131.70M | 125.44M |
| Total Liabilities | 7.81B | 7.47B | 7.00B | 7.37B | 3.72B | 4.86B |
| Common Stock | 2.00B | 11.94B | 11.97B | 12.42B | 2.00B | 2.00B |
| Retained Earnings | 13.45B | 15.40B | 14.17B | |||
| Treasury Stock | -150.00M | -150.00M | -150.00M | |||
| Comprehensive Income & Other | -3.00B | -5.41B | -5.49B | |||
| Total Common Equity | 12.30B | 11.94B | 11.97B | 12.42B | 11.85B | 10.54B |
| Minority Interest | 4.44B | 4.20B | 4.16B | 4.39B | 1.92B | 1.70B |
| Shareholders' Equity | 16.74B | 16.15B | 16.13B | 16.81B | 13.77B | 12.24B |
| Total Liabilities & Equity | 24.55B | 23.62B | 23.13B | 24.18B | 17.49B | 17.10B |
| Total Debt | 3.05B | 2.61B | 2.44B | 2.39B | 1.27B | 1.74B |
| Net Cash (Debt) | -319.26M | 525.68M | 1.41B | 1.43B | 2.26B | 828.24M |
| Net Cash Per Share | -1.63 | 2.68 | 7.19 | 7.31 | 11.50 | 4.22 |
| Filing Date Shares Outstanding | 196.31M | 196.31M | 196.31M | 196.31M | 196.31M | 196.31M |
| Total Common Shares Outstanding | 196.31M | 196.31M | 196.31M | 196.31M | 196.31M | 196.31M |
| Working Capital | 6.05B | 5.86B | 7.24B | 8.23B | 6.63B | 5.39B |
| Book Value Per Share | 62.65 | 60.84 | 60.97 | 63.26 | 60.34 | 53.67 |
| Tangible Book Value | 11.26B | 10.94B | 10.95B | 11.42B | 10.90B | 9.63B |
| Tangible Book Value Per Share | 57.37 | 55.74 | 55.76 | 58.19 | 55.53 | 49.07 |
| Land | 800.57M | 780.68M | 774.05M | 607.97M | 594.74M | |
| Buildings | 5.15B | 4.82B | 4.41B | 4.09B | 4.02B | |
| Machinery | 9.66B | 9.16B | 8.86B | 8.05B | 8.00B | |
| Construction In Progress | 3.35B | 1.65B | 1.12B | 547.10M | 563.08M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 699.50M | 425.23M | -53.67M | 676.04M | 1.77B | 3.83B |
| Depreciation & Amortization | 741.35M | 747.82M | 727.41M | 700.01M | 687.84M | 591.79M |
| Other Amortization | 59.25M | 59.25M | 48.30M | 27.66M | ||
| Loss (Gain) on Equity Investments | -81.53M | -85.64M | -69.11M | -105.31M | -37.11M | -400.73M |
| Other Operating Activities | 472.52M | 131.54M | 1.27B | 909.30M | -845.45M | 1.28B |
| Change in Accounts Receivable | 112.83M | 112.83M | 297.28M | -104.28M | 573.81M | -885.20M |
| Change in Inventory | 805.70M | 805.70M | -108.83M | 202.47M | 438.09M | -1.91B |
| Change in Accounts Payable | 63.43M | 63.43M | -74.16M | 280.57M | 83.31M | 109.25M |
| Change in Other Net Operating Assets | -1.34B | 53.47M | -130.18M | -57.68M | 57.29M | 64.69M |
| Operating Cash Flow | 1.54B | 2.31B | 1.91B | 2.50B | 2.75B | 2.68B |
| Capital Expenditures | -2.01B | -2.50B | -1.87B | -1.46B | -580.55M | -523.61M |
| Sale of Property, Plant & Equipment | 4.41M | 4.15M | 2.39M | 2.48M | 1.91M | 1.75M |
| Cash Acquisitions | -335.58M | 662.39M | -4.22M | -757.00K | ||
| Investment in Securities | 336.56M | 522.47M | 487.71M | -674.46M | -741.75M | -522.74M |
| Other Investing Activities | 144.85M | -10.29M | ||||
| Investing Cash Flow | -1.86B | -1.98B | -1.38B | -1.47B | -1.32B | -1.05B |
| Long-Term Debt Issued | 1.11B | 1.56B | 354.95M | 285.91M | 246.05M | |
| Long-Term Debt Repaid | -1.08B | -1.38B | -552.01M | -772.05M | -531.13M | |
| Net Debt Issued (Repaid) | 382.60M | 38.15M | 174.50M | -197.06M | -486.15M | -285.08M |
| Common Dividends Paid | -431.88M | -530.03M | -608.55M | -569.29M | -530.03M | -569.29M |
| Other Financing Activities | -49.35M | -8.70M | -54.34M | |||
| Financing Cash Flow | -98.63M | -500.58M | -488.38M | -766.36M | -1.02B | -854.38M |
| Foreign Exchange Rate Adjustments | -4.17M | 11.43M | -197.20M | -71.84M | -35.41M | -38.87M |
| Net Cash Flow | -427.01M | -160.06M | -154.75M | 192.66M | 376.75M | 738.72M |
| Free Cash Flow | -474.45M | -187.23M | 40.74M | 1.04B | 2.17B | 2.15B |
| Free Cash Flow Margin | -2.96% | -1.20% | 0.23% | 5.91% | 13.23% | 13.38% |
| Free Cash Flow Per Share | -2.42 | -0.95 | 0.21 | 5.30 | 11.07 | 10.97 |
| Levered Free Cash Flow | -884.95M | -666.89M | 836.22M | -257.32M | 1.90B | 1.46B |
| Unlevered Free Cash Flow | -757.23M | -532.90M | 958.83M | -178.96M | 1.93B | 1.48B |
| Cash Interest Paid | 221.81M | 221.81M | 194.84M | 133.71M | 42.73M | 36.06M |
| Cash Income Tax Paid | 244.72M | 244.72M | 56.53M | 495.35M | 1.77B | 818.85M |
| Change in Working Capital | -355.02M | 1.04B | -15.88M | 321.08M | 1.15B | -2.62B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.44B | 7.50B | 5.71B | 8.34B | 6.00B | 8.54B |
| Enterprise Value | 10.76B | 11.32B | 8.64B | 10.90B | 6.46B | 10.16B |
| Last Close Price | 52.77 | 37.10 | 25.84 | 34.86 | 23.25 | 30.91 |
| PE Ratio | 14.93 | 17.63 | 12.33 | 3.39 | 2.23 | |
| Forward PE | 6.52 | 7.96 | 4.45 | 6.64 | 8.92 | 3.13 |
| PS Ratio | 0.65 | 0.48 | 0.32 | 0.47 | 0.36 | 0.53 |
| PB Ratio | 0.84 | 0.46 | 0.35 | 0.50 | 0.44 | 0.70 |
| P/TBV Ratio | 0.93 | 0.69 | 0.52 | 0.73 | 0.55 | 0.89 |
| P/FCF Ratio | 140.13 | 8.01 | 2.76 | 3.97 | ||
| P/OCF Ratio | 6.81 | 3.24 | 3.00 | 3.33 | 2.18 | 3.19 |
| PEG Ratio | 0.03 | 0.25 | 4.28 | 0.77 | 0.17 | |
| EV/Sales Ratio | 0.67 | 0.72 | 0.49 | 0.62 | 0.39 | 0.63 |
| EV/EBITDA Ratio | 5.73 | 8.08 | 4.60 | 2.46 | 1.88 | 1.73 |
| EV/EBIT Ratio | 9.04 | 16.06 | 7.18 | 2.92 | 2.31 | 1.92 |
| EV/FCF Ratio | 212.11 | 10.47 | 2.97 | 4.72 | ||
| Debt / Equity Ratio | 0.18 | 0.16 | 0.15 | 0.14 | 0.09 | 0.14 |
| Debt / EBITDA Ratio | 1.58 | 1.79 | 1.26 | 0.54 | 0.36 | 0.30 |
| Debt / FCF Ratio | 59.90 | 2.29 | 0.58 | 0.81 | ||
| Net Debt / Equity Ratio | 0.02 | -0.03 | -0.09 | -0.09 | -0.16 | -0.07 |
| Net Debt / EBITDA Ratio | 0.17 | -0.38 | -0.75 | -0.32 | -0.66 | -0.14 |
| Net Debt / FCF Ratio | -0.67 | 2.81 | -34.64 | -1.38 | -1.04 | -0.39 |
| Asset Turnover | 0.66 | 0.67 | 0.75 | 0.84 | 0.95 | 1.07 |
| Inventory Turnover | 3.06 | 3.00 | 3.05 | 2.94 | 3.39 | 3.35 |
| Quick Ratio | 1.42 | 1.42 | 1.62 | 1.84 | 2.40 | 1.45 |
| Current Ratio | 2.58 | 2.49 | 2.89 | 3.17 | 3.99 | 2.68 |
| Return on Equity (ROE) | 4.43% | 1.88% | 1.05% | 6.45% | 16.10% | 42.24% |
| Return on Assets (ROA) | 3.08% | 1.88% | 3.18% | 11.21% | 10.11% | 22.05% |
| Return on Invested Capital (ROIC) | 4.81% | 2.17% | 1.91% | 20.76% | 19.16% | 39.02% |
| Return on Capital Employed (ROCE) | 5.80% | 3.60% | 6.20% | 18.30% | 18.30% | 38.00% |
| Earnings Yield | 6.70% | 5.67% | -0.94% | 8.11% | 29.46% | 44.77% |
| FCF Yield | -4.53% | -2.50% | 0.71% | 12.48% | 36.21% | 25.21% |
| Dividend Yield | 4.13% | 5.76% | 9.29% | 7.77% | 8.83% | 5.97% |
| Payout Ratio | 61.74% | 124.65% | 84.21% | 29.99% | 14.88% | |
| Total Shareholder Return | 4.13% | 5.76% | 9.29% | 7.77% | 8.83% | 5.97% |