CMC vs. STLD

Last updated Jun 3, 2026

CMC (Commercial Metals Company) and STLD (Steel Dynamics, Inc.) are both stocks. Both operate in the Steel industry within the Basic Materials sector. Over the past 10 years, CMC returned 18.25%/yr vs 29.38%/yr for STLD. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

CMC vs. STLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Commercial Metals Company (CMC) and Steel Dynamics, Inc. (STLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMC achieves a 11.27% return, which is significantly lower than STLD's 60.67% return. Over the past 10 years, CMC has underperformed STLD with an annualized return of 18.25%, while STLD has yielded a comparatively higher 29.38% annualized return.

CMC

• 1D: 1.11%
• 1M: 11.55%
• YTD: 11.27%
• 6M: 21.18%
• 1Y: 57.55%
• 3Y*: 20.45%
• 5Y*: 20.59%
• 10Y*: 18.25%

STLD

• 1D: 3.75%
• 1M: 18.38%
• YTD: 60.67%
• 6M: 62.89%
• 1Y: 102.70%
• 3Y*: 42.63%
• 5Y*: 35.49%
• 10Y*: 29.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMC vs. STLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMC Commercial Metals Company	11.27%	41.52%	0.41%	4.99%	35.05%	79.83%	-5.45%	42.81%	-23.17%	0.33%
STLD Steel Dynamics, Inc.	60.67%	50.70%	-1.99%	22.75%	60.14%	71.42%	12.46%	16.78%	-29.02%	23.34%

Correlation

The correlation between CMC and STLD is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Nov 25, 1996	0.61

The correlation between CMC and STLD shifts across timeframes, from 0.61 (all time) to 0.73 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CMC : $8.58B STLD : $39.30B
EPS CMC : $4.50 STLD : $9.33
PE Ratio CMC : 17.03 STLD : 29.08
PS Ratio CMC : 1.03 STLD : 2.10
PB Ratio CMC : 1.95 STLD : 4.29
Total Revenue (TTM) CMC : $8.39B STLD : $19.01B
Gross Profit (TTM) CMC : $1.49B STLD : $2.66B
EBITDA (TTM) CMC : $905.85M STLD : $2.23B

Return for Risk

CMC vs. STLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMC

CMC Risk / Return Rank: 79
CMC Sharpe Ratio Rank: 84
CMC Sortino Ratio Rank: 80
CMC Omega Ratio Rank: 77
CMC Calmar Ratio Rank: 76
CMC Martin Ratio Rank: 79

STLD

STLD Risk / Return Rank: 93
STLD Sharpe Ratio Rank: 94
STLD Sortino Ratio Rank: 93
STLD Omega Ratio Rank: 91
STLD Calmar Ratio Rank: 93
STLD Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMC vs. STLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Commercial Metals Company (CMC) and Steel Dynamics, Inc. (STLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CMC	STLD	Difference
Sharpe ratio Return per unit of total volatility	1.72	3.11	-1.39
Sortino ratio Return per unit of downside risk	2.34	3.79	-1.45
Omega ratio Gain probability vs. loss probability	1.28	1.45	-0.17
Calmar ratio Return relative to maximum drawdown	2.22	6.08	-3.86
Martin ratio Return relative to average drawdown	6.33	20.16	-13.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMC vs. STLD - Sharpe Ratio Comparison

The current CMC Sharpe Ratio is 1.72, which is lower than the STLD Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of CMC and STLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CMC	STLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	3.11	-1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.94	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.75	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.35	+0.02

Drawdowns

CMC vs. STLD - Drawdown Comparison

The maximum CMC drawdown since its inception was -83.77%, roughly equal to the maximum STLD drawdown of -87.05%. Use the drawdown chart below to compare losses from any high point for CMC and STLD.

Drawdown Indicators

	CMC	STLD	Difference
Max Drawdown Largest peak-to-trough decline	-83.77%	-87.05%	+3.28%
Max Drawdown (1Y) Largest decline over 1 year	-29.96%	-20.33%	-9.63%
Max Drawdown (3Y) Largest decline over 3 years	-37.63%	-28.66%	-8.97%
Max Drawdown (5Y) Largest decline over 5 years	-37.63%	-32.20%	-5.43%
Max Drawdown (10Y) Largest decline over 10 years	-53.78%	-68.46%	+14.68%
Current Drawdown Current decline from peak	-7.66%	0.00%	-7.66%
Average Drawdown Average peak-to-trough decline	-23.53%	-33.30%	+9.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.49%	6.13%	+4.36%

Volatility

CMC vs. STLD - Volatility Comparison

Commercial Metals Company (CMC) and Steel Dynamics, Inc. (STLD) have volatilities of 9.76% and 9.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMC	STLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.76%	9.94%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	24.45%	24.86%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	34.13%	34.69%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.51%	38.04%	-2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.71%	39.32%	+0.39%

Dividends

CMC vs. STLD - Dividend Comparison

CMC's dividend yield for the trailing twelve months is around 0.97%, more than STLD's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMC Commercial Metals Company	0.97%	1.04%	1.41%	1.28%	1.20%	1.38%	2.34%	2.16%	3.00%	2.25%	2.20%	3.51%
STLD Steel Dynamics, Inc.	0.75%	1.18%	1.61%	1.44%	1.39%	1.68%	2.71%	2.82%	2.50%	1.44%	1.57%	3.08%

Financials

CMC vs. STLD - Profitability Comparison

The chart below illustrates the profitability comparison between Commercial Metals Company and Steel Dynamics, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CMC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Commercial Metals Company reported a gross profit of 387.91M and revenue of 2.13B. Therefore, the gross margin over that period was 18.2%.

STLD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a gross profit of 763.22M and revenue of 5.20B. Therefore, the gross margin over that period was 14.7%.

CMC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Commercial Metals Company reported an operating income of 154.74M and revenue of 2.13B, resulting in an operating margin of 7.3%.

STLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported an operating income of 538.00M and revenue of 5.20B, resulting in an operating margin of 10.3%.

CMC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Commercial Metals Company reported a net income of 93.03M and revenue of 2.13B, resulting in a net margin of 4.4%.

STLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a net income of 403.44M and revenue of 5.20B, resulting in a net margin of 7.8%.

Frequently Asked Questions

Can I hold both CMC and STLD in my portfolio?

CMC and STLD have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMC or STLD?

STLD has higher volatility (9.94%) compared to CMC (9.76%). In terms of maximum drawdown, CMC dropped -83.77% vs STLD's -87.05%.

Which has better risk-adjusted returns?

STLD currently has the higher Sharpe Ratio (3.11 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.