NUE · 10-Q · 2026Q4 · Full report
Liquidity and Capital Position
NUCOR CORP · 2026-11-10 · Importance 63 · Surprise 64 · From source text
At October 3, 2026, cash, cash equivalents and short-term investments totaled $3.64 billion, up from $2.70 billion at December 31, 2025; $1.01 billion of cash and cash equivalents was held by majority-owned joint ventures. Operating cash flow for the first nine months of 2026 was $4.52 billion, compared with $2.44 billion in 2025, primarily reflecting a $2.01 billion increase in net earnings before noncontrolling interests. The current ratio was 2.5 at the end of the third quarter, versus 2.9 at year-end 2025. Nucor reported A- long-term ratings from Standard & Poor’s and Fitch and an A3 rating from Moody’s.
Key facts
- Cash provided by operating activities was $4.52 billion in the first nine months of 2026, compared with $2.44 billion in the first nine months of 2025, an increase of $2.09 billion. source
- Nucor’s cash, cash equivalents and short-term investments totaled $3.64 billion at October 3, 2026, compared with $2.70 billion at December 31, 2025. source
- In the first nine months of 2026, inventories used $560 million in cash compared with $295 million in the first nine months of 2025. source
- Cash used in investing activities was $1.54 billion in the first nine months of 2026, compared with $2.51 billion in the first nine months of 2025, a decrease of $974 million. source
- Cash used in financing activities was $1.77 billion in the first nine months of 2026, compared with $1.27 billion in the first nine months of 2025. source
- Nucor expects funds from operations, cash and cash equivalents, short-term investments and new borrowings under existing credit facilities to be adequate for existing-operations capital expenditure and working capital needs for at least the next 24 months. source
- Nucor’s annualized return on average stockholders’ equity was 19.6% in the first nine months of 2026, compared with 8.9% in the first nine months of 2025. source
- The current ratio was 2.5 at the end of Q3 2026 and 2.9 at year-end 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +5.5% | Cash provided by operating activities was $4.52 billion in the first nine months of 2026, compared with $2.44 billion in the first nine… |
| cash | positive | realized | +2.5% | Cash used in investing activities was $1.54 billion in the first nine months of 2026, compared with $2.51 billion in the first nine months… |
| cash | positive | realized | +2.5% | Nucor’s cash, cash equivalents and short-term investments totaled $3.64 billion at October 3, 2026, compared with $2.70 billion at… |
| cash | negative | realized | -1.3% | Cash used in financing activities was $1.77 billion in the first nine months of 2026, compared with $1.27 billion in the first nine months… |
| cash | negative | realized | -0.7% | In the first nine months of 2026, inventories used $560 million in cash compared with $295 million in the first nine months of 2025. |