Nucor Corporation (NUE): Business Model Canvas

In der dynamischen Welt der Stahlherstellung gilt die Nucor Corporation (NUE) als Leuchtturm für Innovation und Effizienz und verändert mit ihrem bahnbrechenden Geschäftsmodell die Industrielandschaft. Durch die raffinierte Kombination fortschrittlicher Elektrolichtbogenofentechnologie, nachhaltiger Praktiken und einem unermüdlichen Engagement für Qualität hat Nucor eine einzigartige Strategie entwickelt, die nicht nur die Rentabilität steigert, sondern auch revolutioniert, wie die Stahlproduktion sowohl umweltbewusst als auch wirtschaftlich robust sein kann. Diese Untersuchung des Business Model Canvas von Nucor enthüllt die komplizierten Mechanismen, die diesen Branchenführer an die Spitze der modernen Fertigung gebracht haben, und bietet Einblicke in einen Entwurf, der technologische Leistungsfähigkeit, kundenorientierte Lösungen und strategische operative Exzellenz in Einklang bringt.

Nucor Corporation (NUE) – Geschäftsmodell: Wichtige Partnerschaften

Stahllieferanten und Altmetallrecycler

Nucor bezieht Altmetall von etwa 250 unabhängigen Schrottlieferanten in den Vereinigten Staaten. Im Jahr 2022 verarbeitete das Unternehmen 22,4 Millionen Tonnen Eisenschrott.

Kategorie „Schrottlieferant“.	Jährliches Volumen (Tonnen)
Lieferanten von Industrieschrott	12,6 Millionen
Recyclingunternehmen für Verbraucherschrott	7,8 Millionen
Kommerzielle Schrottsammler	2 Millionen

Gerätehersteller und Technologieanbieter

Nucor arbeitet mit führenden Technologieanbietern für fortschrittliche Stahlproduktionsanlagen zusammen.

• SMS Group GmbH (Deutschland) – Fortschrittliche Stahlwerkstechnologie
• Primetals Technologies – Metallurgische Ausrüstung
• ABB-Gruppe – Automatisierung und elektrische Systeme

Transport- und Logistikunternehmen

Nucor unterhält Partnerschaften mit mehreren Transportanbietern für die Material- und Produktverteilung.

Transportpartner	Jährliches Frachtvolumen
BNSF-Eisenbahn	2,3 Millionen Tonnen
Union Pacific Railroad	1,8 Millionen Tonnen
LKW-Partnerschaften	1,5 Millionen Tonnen

Energieversorger für Lichtbogenöfen

Nucor betreibt 17 Elektrolichtbogenöfen (EAF) mit strategischen Energiepartnerschaften.

• Duke Energy – Primärer Stromversorger im Südosten der USA
• Xcel Energy – Stromversorgung für die Region Mittlerer Westen
• Südkalifornien Edison – Energiepartnerschaft der westlichen Region

Forschungseinrichtungen für Stahlinnovation

Nucor investiert jährlich 45,2 Millionen US-Dollar in Forschungs- und Entwicklungspartnerschaften.

Forschungseinrichtung	Forschungsschwerpunkt	Jährliche Investition
Massachusetts Institute of Technology	Fortgeschrittene Metallurgie	12,5 Millionen US-Dollar
Georgia Institute of Technology	Stahlherstellungsprozesse	8,7 Millionen US-Dollar
Colorado School of Mines	Werkstofftechnik	6,3 Millionen US-Dollar

Nucor Corporation (NUE) – Geschäftsmodell: Hauptaktivitäten

Stahlproduktion mittels Lichtbogenofentechnologie

Jährliche Stahlproduktionskapazität: 27 Millionen Tonnen ab 2023

Ofentyp	Anzahl der Einrichtungen	Jährliche Produktionskapazität
Lichtbogenöfen	23	27 Millionen Tonnen

Recycling und Verarbeitung von Altmetall

Jährlich verarbeiteter Altmetall: 22 Millionen Tonnen im Jahr 2023

• Recyclingquote von Stahlschrott: 95 %
• Jährlicher Recyclingumsatz: 8,3 Milliarden US-Dollar

Kontinuierliche Produktinnovation und -entwicklung

F&E-Investitionen: 187 Millionen US-Dollar im Jahr 2023

Innovationsbereich	Entwicklung neuer Produkte
Fortschrittliche Stahlprodukte	12 neue Produktlinien

Effiziente Fertigung und schlanke Produktionsprozesse

Kennzahlen zur Fertigungseffizienz:

• Produktionskosten pro Tonne: 620 $
• Fertigungsgemeinkosten: 12,4 %
• Betriebseffizienz: 87,6 %

Nachhaltige und umweltbewusste Herstellung

Kennzahlen zur Umweltleistung:

Nachhaltigkeitsmetrik	Daten für 2023
Reduzierung der CO2-Emissionen	28 % im Vergleich zum Ausgangswert von 2015
Verbesserung der Energieeffizienz	18 % seit 2010

Nucor Corporation (NUE) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Lichtbogenofenanlagen

Nucor betreibt 23 Elektrolichtbogenofen-Stahlwerke (EAF) in den Vereinigten Staaten. Gesamte jährliche Stahlproduktionskapazität: 27 Millionen Tonnen. Kapitalinvestition in EAF-Technologie: 2,7 Milliarden US-Dollar ab 2023.

Standort der Einrichtung	Produktionskapazität (Tonnen/Jahr)	Investitionswert
Texas	4,5 Millionen	450 Millionen Dollar
Indiana	3,8 Millionen	380 Millionen Dollar
Arkansas	3,2 Millionen	320 Millionen Dollar

Umfangreiches Netzwerk von Stahlproduktionsanlagen

Nucor unterhält 96 Produktionsstätten in den Vereinigten Staaten. Gesamte Produktionsfläche: 12,4 Millionen Quadratfuß.

• Stahlwerke: 23 Anlagen
• Anlagen für Stahlprodukte: 47 Anlagen
• Nachgelagerte Produktionsstätten: 26 Einrichtungen

Qualifizierte Arbeitskräfte mit technischem Fachwissen

Gesamtbelegschaft: 31.300 Mitarbeiter (Stand 2023). Durchschnittliche Betriebszugehörigkeit der Mitarbeiter: 12,5 Jahre.

Mitarbeiterkategorie	Anzahl der Mitarbeiter	Durchschnittliche Schulungsstunden
Fertigungsarbeiter	22,800	120 Stunden/Jahr
Technische Spezialisten	4,500	180 Stunden/Jahr
Management	4,000	100 Stunden/Jahr

Starke Finanzlage und Kapitalreserven

Finanzkennzahlen ab Q4 2023:

• Gesamtvermögen: 24,6 Milliarden US-Dollar
• Zahlungsmittel und Zahlungsmitteläquivalente: 1,8 Milliarden US-Dollar
• Jahresumsatz: 37,5 Milliarden US-Dollar
• Nettoeinkommen: 3,2 Milliarden US-Dollar

Proprietäre Stahlherstellungstechnologien

Forschungs- und Entwicklungsausgaben: 215 Millionen US-Dollar im Jahr 2023. Aktive Patente: 87 Patente für Fertigungstechnologie.

Kategorie „Technologie“.	Anzahl der Patente	F&E-Investitionen
Herstellungsprozess	42	95 Millionen Dollar
Materialwissenschaft	28	75 Millionen Dollar
Energieeffizienz	17	45 Millionen Dollar

Nucor Corporation (NUE) – Geschäftsmodell: Wertversprechen

Hochwertige, kostengünstige Stahlprodukte

Nucor produzierte im Jahr 2022 27,1 Millionen Tonnen Stahlprodukte mit einem jährlichen Stahlproduktumsatz von 37,2 Milliarden US-Dollar. Der durchschnittliche Preis für Stahlprodukte betrug 1.372 US-Dollar pro Tonne.

Produktkategorie	Jährliches Produktionsvolumen	Umsatzbeitrag
Stahlbleche	12,5 Millionen Tonnen	17,1 Milliarden US-Dollar
Stahlstangen	7,3 Millionen Tonnen	10,2 Milliarden US-Dollar
Baustahl	4,6 Millionen Tonnen	6,3 Milliarden US-Dollar
Spezialstahl	2,7 Millionen Tonnen	3,6 Milliarden US-Dollar

Engagement für Nachhaltigkeit und Recycling

Nucor recycelte im Jahr 2022 22,3 Millionen Tonnen Stahlschrott, was 82 % der gesamten Stahlproduktion entspricht. Die CO2-Emissionen wurden im Vergleich zum Branchendurchschnitt um 47 % reduziert.

• Recyclingquote: 82 %
• Reduzierung der CO2-Emissionen: 47 %
• Nutzung erneuerbarer Energien: 36 % des Gesamtenergieverbrauchs

Innovative und technologisch fortschrittliche Fertigung

F&E-Investitionen von 124 Millionen US-Dollar im Jahr 2022, wobei 17 neue Patente für Fertigungstechnologie angemeldet wurden.

Technologie-Investitionsbereich	Jährliche Ausgaben	Technologische Ergebnisse
Fortschrittliche Fertigung	68 Millionen Dollar	7 neue Produktionstechnologien
Materialwissenschaft	42 Millionen Dollar	6 neue Entwicklungen bei Stahllegierungen
Digitale Fertigung	14 Millionen Dollar	4 Initiativen zur digitalen Transformation

Maßgeschneiderte Stahllösungen für verschiedene Branchen

Wir beliefern 12 große Industriezweige mit maßgeschneiderten Stahllösungen, darunter Automobil, Bauwesen und Energie.

• Automobilsektor: 4,2 Millionen Tonnen Spezialstahl
• Bausektor: 6,5 Millionen Tonnen Baustahl
• Energiesektor: 2,9 Millionen Tonnen spezialisierte Stahlprodukte

Wettbewerbsfähige Preise durch effiziente Produktion

Produktionskosten pro Tonne: 1.087 US-Dollar im Vergleich zum Branchendurchschnitt von 1.342 US-Dollar. Bruttomarge: 24,6 % im Jahr 2022.

Kosteneffizienzmetrik	Nucor-Leistung	Branchendurchschnitt
Produktionskosten pro Tonne	$1,087	$1,342
Bruttomarge	24.6%	19.3%
Betriebseffizienz	18.2%	15.7%

Nucor Corporation (NUE) – Geschäftsmodell: Kundenbeziehungen

Langfristige Partnerschaften mit Industrie- und Gewerbekunden

Nucor unterhält strategische Partnerschaften mit über 11.500 Industriekunden in den Bereichen Automobil, Bauwesen, Energie und Fertigung. Durchschnittliche Vertragsdauer: 5-7 Jahre. Gesamtumsatz des Kundenstamms im Jahr 2023: 28,4 Milliarden US-Dollar.

Branchensegment	Anzahl der Kunden	Durchschnittlicher Vertragswert
Automobil	3,200	12,6 Millionen US-Dollar
Bau	4,500	8,3 Millionen US-Dollar
Energie	2,100	15,2 Millionen US-Dollar
Herstellung	1,700	6,9 Millionen US-Dollar

Direktvertriebs- und technische Supportteams

Nucor beschäftigt 362 engagierte Vertriebsprofis mit einer durchschnittlichen Branchenerfahrung von 14,7 Jahren. Das technische Support-Team besteht aus 215 spezialisierten Ingenieuren.

• Abdeckung des Vertriebsteams: 47 Staaten
• Durchschnittliche Antwortzeit: 2,3 Stunden
• Kundenzufriedenheitsbewertung: 92 %

Reaktionsschneller Kundenservice

Die Kundendienstinfrastruktur wickelt monatlich 18.500 Kundeninteraktionen ab. Auflösungsrate: 97,6 %. Durchschnittliche Problemlösungszeit: 1,4 Tage.

Kollaborative Produktentwicklung

F&E-Investitionen im Jahr 2023: 124 Millionen US-Dollar. Kooperationsprojekte mit Kunden: 47 aktive Entwicklungsinitiativen.

Entwicklungsfokus	Anzahl der Projekte	Geschätzte Investition
Fortschrittliche Stahllegierungen	22	52,3 Millionen US-Dollar
Nachhaltigkeitslösungen	15	38,7 Millionen US-Dollar
Kundenspezifische Fertigung	10	33,2 Millionen US-Dollar

Ruf für Zuverlässigkeit und Qualität

Qualitätskennzahlen: 99,2 % pünktliche Lieferung, 99,7 % Produktkonformität, ISO 9001:2015-Zertifizierung für alle Produktionsstätten.

• Ranking der Branchenzuverlässigkeit: Nr. 1 in der Stahlherstellung
• Kundenbindungsrate: 94,3 %
• Net Promoter Score: 78

Nucor Corporation (NUE) – Geschäftsmodell: Kanäle

Direktvertrieb

Nucor verfügt ab 2023 über ein engagiertes Vertriebsteam von 362 Direktvertriebsmitarbeitern. Die jährliche Vergütung des Vertriebsteams betrug 42,3 Millionen US-Dollar, wobei ein durchschnittlicher einzelner Vertriebsmitarbeiter 6,2 Millionen US-Dollar an Stahlproduktumsätzen erwirtschaftete.

Vertriebskanalmetrik	Daten für 2023
Gesamtzahl der Direktvertriebsmitarbeiter	362
Gesamtvergütung des Vertriebsteams	42,3 Millionen US-Dollar
Durchschnittlicher Umsatz pro Vertriebsmitarbeiter	6,2 Millionen US-Dollar

Online-Bestellplattformen

Die digitale Plattform von Nucor verarbeitete im Jahr 2023 47.832 Online-Bestellungen von Stahlprodukten, was 34,6 % der gesamten Kundentransaktionen entspricht. Der Transaktionswert der digitalen Plattform erreichte 1,2 Milliarden US-Dollar.

Online-Plattform-Metrik	Daten für 2023
Gesamtzahl der Online-Bestellungen	47,832
Prozentsatz der gesamten Transaktionen	34.6%
Online-Transaktionswert	1,2 Milliarden US-Dollar

Branchenmessen und Konferenzen

Nucor nahm im Jahr 2023 an 18 großen Branchenmessen teil, wobei sich die Gesamtausstellungskosten auf 3,7 Millionen US-Dollar beliefen. Diese Veranstaltungen generierten 276 neue Kundenkontakte.

• Gesamtzahl der besuchten Messen: 18
• Ausstellungskosten: 3,7 Millionen US-Dollar
• Generierte Neukunden-Leads: 276

Strategisches Account Management

Nucor verwaltet 412 strategische Kunden, die 68,3 % des gesamten Jahresumsatzes ausmachen. Strategische Kunden erwirtschafteten im Jahr 2023 einen Umsatz mit Stahlprodukten in Höhe von 7,6 Milliarden US-Dollar.

Strategische Kontometrik	Daten für 2023
Gesamte strategische Konten	412
Prozentsatz des Gesamtumsatzes	68.3%
Strategische Account-Verkäufe	7,6 Milliarden US-Dollar

Digitales Marketing und technische Kommunikation

Die digitalen Marketingbemühungen von Nucor erreichten im Jahr 2023 2,1 Millionen einzelne Industriekunden. Die Ausgaben für digitales Marketing beliefen sich auf 5,4 Millionen US-Dollar, mit einer Kundenbindungsrate von 42,7 %.

• Gesamtzahl der erreichten einzigartigen Industriekunden: 2,1 Millionen
• Ausgaben für digitales Marketing: 5,4 Millionen US-Dollar
• Kundenbindungsrate: 42,7 %

Nucor Corporation (NUE) – Geschäftsmodell: Kundensegmente

Bau- und Infrastrukturindustrie

Nucor bedient Bau- und Infrastrukturkunden mit einem jährlichen Segmentumsatz von 8,3 Milliarden US-Dollar im Jahr 2022. Zu den wichtigsten Produktangeboten gehören:

• Baustahlprodukte
• Bewehrungsstahlstäbe
• Stahlspundwand

Kundentyp	Marktanteil	Jährliche Ausgaben
Gewerbebau	22.5%	1,87 Milliarden US-Dollar
Infrastrukturprojekte	18.3%	1,52 Milliarden US-Dollar

Automobilhersteller

Im Automobilsegment erzielte Nucor im Jahr 2022 einen Umsatz von 3,6 Milliarden US-Dollar.

• Produktion von Automobilstahlblechen
• Hochfeste Stahlkomponenten
• Präzisionsteile aus Stahl

Automotive-Kunde	Jährliche Stahlbeschaffung	Beziehungsdauer
Ford Motor Company	750 Millionen Dollar	15 Jahre
General Motors	680 Millionen Dollar	12 Jahre

Energie- und Öl-/Gassektor

Die Stahlnachfrage im Energiesektor erreichte im Jahr 2022 für Nucor 2,4 Milliarden US-Dollar.

• Bohrrohr
• Gehäuseprodukte
• Schlauchware

Hersteller von landwirtschaftlichen Geräten

Das Segment Landmaschinen erwirtschaftete für Nucor im Jahr 2022 einen Umsatz von 1,2 Milliarden US-Dollar.

Hersteller von Fertigungs- und Industrieausrüstungen

Das Segment Industrieausrüstung stellte für Nucor im Jahr 2022 einen Umsatz von 2,8 Milliarden US-Dollar dar.

Industriesektor	Stahlbeschaffung	Wachstumsrate
Schwere Maschinen	1,5 Milliarden US-Dollar	7.2%
Materialhandhabung	680 Millionen Dollar	5.9%

Nucor Corporation (NUE) – Geschäftsmodell: Kostenstruktur

Rohstoffbeschaffung

Die Rohstoffbeschaffungskosten von Nucor beliefen sich im Jahr 2023 auf etwa 11,4 Milliarden US-Dollar. Das Unternehmen bezieht Primärrohstoffe, darunter:

• Stahlschrott: 7,2 Milliarden US-Dollar
• Eisenerz: 2,1 Milliarden US-Dollar
• Legierungszusätze: 1,3 Milliarden US-Dollar
• Andere metallurgische Inputs: 800 Millionen US-Dollar

Rohstoff	Jährliche Kosten (2023)	Prozentsatz der Gesamtsumme
Stahlschrott	7,2 Milliarden US-Dollar	63.2%
Eisenerz	2,1 Milliarden US-Dollar	18.4%
Legierungszusätze	1,3 Milliarden US-Dollar	11.4%
Andere Eingaben	800 Millionen Dollar	7%

Energieverbrauch für die Stahlproduktion

Die gesamten Energieausgaben von Nucor beliefen sich im Jahr 2023 auf 1,65 Milliarden US-Dollar, mit folgender Aufteilung:

• Strom: 920 Millionen US-Dollar
• Erdgas: 450 Millionen US-Dollar
• Kohle und andere Brennstoffe: 280 Millionen US-Dollar

Arbeits- und Personalkosten

Die gesamten Arbeitskosten für Nucor beliefen sich im Jahr 2023 auf 2,3 Milliarden US-Dollar, darunter:

• Direkte Arbeitslöhne: 1,6 Milliarden US-Dollar
• Leistungen und Versicherung: 420 Millionen US-Dollar
• Schulung und Entwicklung: 80 Millionen US-Dollar
• Leistungsprämien: 200 Millionen US-Dollar

Investitionen in Technologie und Ausrüstung

Die Investitionsausgaben für 2023 beliefen sich auf insgesamt 1,1 Milliarden US-Dollar, mit Zuteilungen:

• Anschaffung neuer Ausrüstung: 650 Millionen US-Dollar
• Technologische Upgrades: 280 Millionen US-Dollar
• Wartung und Austausch: 170 Millionen US-Dollar

Transport- und Logistikkosten

Die Logistikkosten für Nucor beliefen sich im Jahr 2023 auf 780 Millionen US-Dollar:

Transportmodus	Jährliche Kosten	Prozentsatz
LKW-Transport	450 Millionen Dollar	57.7%
Schienenverkehr	230 Millionen Dollar	29.5%
Seeschifffahrt	100 Millionen Dollar	12.8%

Nucor Corporation (NUE) – Geschäftsmodell: Einnahmequellen

Verkauf von Stahlprodukten

Die Nucor Corporation meldete für das Geschäftsjahr 2023 einen Gesamtnettoumsatz von 37,4 Milliarden US-Dollar. Aufschlüsselung der Stahlproduktumsätze:

Produktkategorie	Umsatz (Mio. USD)	Prozentsatz
Stahlbleche	15,680	41.9%
Baustahl	8,250	22.1%
Barprodukte	6,230	16.7%
Plattenstahl	4,560	12.2%
Andere Stahlprodukte	2,680	7.1%

Kundenspezifische Fertigungsdienstleistungen

Umsatz aus kundenspezifischer Fertigung für 2023: 3,2 Milliarden US-Dollar

• Kundenspezifische Fertigung im Automobilsektor: 1,4 Milliarden US-Dollar
• Sonderanfertigung von Baumaschinen: 890 Millionen US-Dollar
• Kundenspezifische Fertigung im Energiesektor: 610 Millionen US-Dollar
• Andere industrielle Sonderanfertigungen: 300 Millionen US-Dollar

Einnahmen aus dem Altmetallrecycling

Einnahmen aus dem Altmetallrecycling für 2023: 2,1 Milliarden US-Dollar

Recyclingquelle	Umsatz (Mio. USD)
Industrieschrott	1,260
Kommerzieller Schrott	540
Wohnschrott	300

Mehrwertige Stahlverarbeitung

Mehrwertverarbeitungsumsatz für 2023: 4,5 Milliarden US-Dollar

• Verzinkungsdienstleistungen: 1.750 Millionen US-Dollar
• Lackieren und Beschichten: 890 Millionen US-Dollar
• Präzisionsschneiden: 620 Millionen US-Dollar
• Wärmebehandlung: 420 Millionen US-Dollar
• Andere Mehrwertdienste: 820 Millionen US-Dollar

Internationaler und nationaler Marktverkauf

Gesamtmarktumsatzaufschlüsselung für 2023:

Markt	Umsatz (Mio. USD)	Prozentsatz
Inländischer US-Markt	33,600	89.8%
Internationale Exporte	3,800	10.2%

Nucor Corporation (NUE) - Canvas Business Model: Value Propositions

You're looking at the core reasons why North American customers choose Nucor Corporation, and honestly, the numbers back up the claims they make about cost and quality. It's not just talk; it's baked into their operational structure.

Lowest-cost steel producer via EAF mini-mill model

Nucor Corporation's Electric Arc Furnace (EAF) model is the engine for its cost position, giving it flexibility when markets swing up or down. This operational choice is key to their value. While direct cost-per-ton comparisons against every competitor aren't public, the financial results show the strength this model supports. For instance, in the third quarter of 2025, Nucor posted net sales of $8.52 billion and an Earnings Per Share (EPS) of $2.63, demonstrating strong profitability derived from this efficient structure. Furthermore, the company continues to reward shareholders, recently increasing its regular quarterly cash dividend to $0.56 per share, payable in February 2026.

Sustainable steel: GHG intensity advantage

Nucor Corporation's value proposition on sustainability is quantified by its low-emission production. Their circular EAF process results in a Greenhouse Gas (GHG) intensity that is approximately one-third the global average for traditional blast furnace steelmakers. Specifically, Nucor's average is 0.76 metric tons of CO2e per metric ton of hot-rolled steel, compared to the global average of 1.92 metric tons of CO2e per metric ton for Scopes 1, 2, and 3 emissions. This means their production is about 60.4% cleaner than the global average based on these figures. They have also set a goal to be 77% below the global average by 2030, using a 2015 baseline.

Broadest product portfolio in North America

Nucor Corporation offers a massive array of steel products, making them a one-stop shop across several critical categories. You see this breadth reflected in their segment reporting and product listings. They manufacture carbon and alloy steel across the primary forms:

• Sheet steel (hot-rolled, cold-rolled, galvanized)
• Plate steel products
• Structural steel (wide-flange beams, H-piling)
• Bar steel products (blooms, billets, merchant bars)

This diversity is supported by substantial assets; for example, segment assets for the Steel Mills segment were reported at $16.952 billion as of April 5, 2025.

Domestic, reliable supply chain stability for North American customers

Being the largest domestic producer offers inherent supply chain advantages, especially when global logistics get choppy. Nucor Corporation backs this reliability with financial strength, holding the strongest credit ratings in the North American steel sector: A- from Standard & Poor's, A- from Fitch Ratings, and A3 from Moody's, all with stable outlooks as of late 2025. They maintain significant liquidity, reporting $2.75 billion in cash and short-term investments at the end of the third quarter of 2025, with an undrawn $2.25 billion revolving credit facility.

Value-added downstream products

The vertical integration into downstream, steel-adjacent businesses adds significant value and stability. These products include components like steel joists, joist girders, steel deck, and metal building systems. This integration is visible in internal transfers; steel mill shipments to the internal Steel Products segment represented 22% of total steel mill shipments in the second quarter of 2025. Shipments of these downstream products to outside customers saw sequential growth, increasing 9% in the second quarter of 2025 compared to the first quarter of 2025.

Value Proposition Metric	Data Point	Period/Context
GHG Intensity (Nucor Average)	0.76 metric tons of CO2e per metric ton	Scopes 1, 2, and 3 (vs. Global Average of 1.92)
GHG Intensity Reduction Goal	77% below global average	By 2030, from a 2015 baseline
Downstream Shipments Growth (QoQ)	9% increase	Q2 2025 vs. Q1 2025
Internal Mill Shipments Percentage	22%	Q2 2025 (Steel Mills to Steel Products Segment)
Credit Rating (S&P/Fitch/Moody's)	A-/A-/A3	As of late 2025
Cash & Short-Term Investments	$2.75 billion	End of Q3 2025

If you're mapping out your supply chain risk, remember that Nucor Corporation's Q3 2025 revenue was $8.52 billion, showing they are moving serious tonnage.

Nucor Corporation (NUE) - Canvas Business Model: Customer Relationships

You're looking at how Nucor Corporation manages its connections with the market, which is really about trust built on performance and financial discipline. Their stated mission is 'Taking Care of Our Customers', and this ethos drives their operational focus.

For large industrial customers, Nucor relies on a structure that supports direct engagement. While I don't have the specific headcount for dedicated direct sales teams, their decentralized structure, where division managers are empowered, suggests a close-to-the-customer operational model. This is supported by the breadth of their product offerings, which serve diverse needs across infrastructure and construction.

When dealing with complex engineered products, like the engineered special bar quality products from the Steel Mills segment, or the steel decks, joists, girders, and beams from their Steel Products division, the relationship moves beyond simple transaction. These specialized needs require long-term, high-touch collaboration to ensure the material meets precise specifications for construction and manufacturing applications. Nucor's vision includes being the premier highway products producer, which inherently demands deep partnership with those customers.

The commitment to the customer base is also reflected in Nucor Corporation's approach to its shareholders, which is a critical relationship for a publicly traded entity. The company consistently signals confidence through robust capital returns, a key part of their strategy to create long-term economic value. Here's a look at that commitment through the third quarter of 2025:

Metric	Value / Period	Context
Capital Returned to Shareholders (YTD)	Nearly $1 billion	Through the third quarter of 2025.
Net Earnings Returned (YTD)	More than 70%	Of net earnings through the third quarter of 2025.
Share Repurchases (9M 2025)	Approx. 4.8 million shares	At an average price of $126.26 per share.
Latest Declared Quarterly Dividend	$0.56 per share	Increased from $0.55; payable February 11, 2026.
Consecutive Quarterly Dividends	211th	As of the December 1, 2025 announcement.
Annualized Dividend	$2.24 per share	Resulting in a dividend yield of 1.4%.

This disciplined capital allocation supports the operational focus on quality and safety, which directly impacts customer satisfaction. Nucor Corporation's culture emphasizes being the world's safest steel company. That focus translated to a reported injury and illness rate of 0.62 for the first quarter of 2025, which they noted was the safest start to any year in Nucor history. That's a concrete number showing their commitment to the well-being of the team that serves you.

The customer-centric approach is also evident in their product quality mandate: to be the highest quality, lowest cost, most productive team in the business. They also maintain the strongest credit ratings in the North American steel sector, rated A-/A-/A3 by S&P, Fitch, and Moody's as of late 2025, which provides customers assurance about Nucor's long-term stability.

You can see the direct output of this customer focus in their recent financial reporting:

• Net earnings attributable to stockholders in Q3 2025 were $607 million.
• Consolidated net sales for Q3 2025 reached $8.52 billion.
• The Steel Mills segment produces products like hot-rolled, cold-rolled, and galvanized sheet steel.

Finance: draft 13-week cash view by Friday.

Nucor Corporation (NUE) - Canvas Business Model: Channels

You're looking at how Nucor Corporation gets its products and services to its customers, which is a mix of direct sales, internal transfers, and specialized distribution arms. It's not just about making steel; it's about moving it efficiently across North America.

The primary channel for the core steel products starts with the Steel Mills segment. This segment sells directly to external customers, but a significant portion moves internally to feed the Steel Products segment. For instance, in the second quarter of 2025, steel mill shipments to internal customers accounted for 22% of total steel mill shipments. This compares to 19% in the first quarter of 2025 and 21% in the second quarter of 2024. This internal transfer mechanism is a key part of the integrated model. For the third quarter of 2025, inside steel shipments saw a year-over-year increase of 31% compared to Q3 2024.

The Steel Products segment then acts as a major downstream channel, taking material from the mills and adding value through fabrication and distribution. Shipments to outside customers from this segment showed growth; in the second quarter of 2025, these shipments increased 9% sequentially from Q1 2025 and 6% from Q2 2024. The volume moved through this channel is substantial. Here's a look at the tonnage data for the Steel Products segment:

Metric	Q3 2025 (Thousands of Tons)	Q3 2024 (Thousands of Tons)	Year-over-Year Change
Sales Tons to External Customers	1,183	1,011	17%

Within the Steel Products segment's offerings, specific fabricated products show strong channel performance. For example, sales tonnage for rebar fabrication products increased by 28% in Q3 2025 compared to the prior year period. This shows the strength of their specialized distribution for construction-related steel.

Nucor Corporation also channels its raw material sourcing and processing capabilities externally through The David J. Joseph Company (DJJ). DJJ is critical for Nucor as North America's largest recycler, but it also serves the market by brokering materials. The estimated annual revenue for The David J. Joseph Company is approximately $629M per year, and it employs an estimated 1,473 people. Nucor acquired DJJ for approximately $1.44 billion. The brokerage and recycling activities contribute directly to Nucor's Raw Materials segment results. For the first nine months of 2025, the Raw Materials segment saw its net sales increase by 18% compared to the same period in 2024, largely driven by the scrap brokerage operations.

Finally, the Steel Mills segment itself incorporates two distinct sales channels that are often grouped with its production: steel trading and rebar distribution businesses. These specialized sales efforts allow Nucor to reach markets that might not be served directly by its primary mill shipments. The overall channel strategy is about maximizing reach and efficiency across the entire value chain.

You can see the key channel metrics summarized below:

• Steel mill shipments to internal customers reached 22% of total mill shipments in Q2 2025.
• The David J. Joseph Company has an estimated annual revenue of $629M.
• Rebar fabrication product sales tonnage grew 28% year-over-year in Q3 2025.
• The acquisition cost for The David J. Joseph Company was approximately $1.44 billion.
• Steel Products segment external sales tons were 1,183 thousand tons in Q3 2025.

Finance: draft 13-week cash view by Friday.

Nucor Corporation (NUE) - Canvas Business Model: Customer Segments

You're looking at Nucor Corporation's customer base, and honestly, it's a mix of massive, project-driven buyers and the crucial middlemen who keep the steel flowing across North America. Nucor doesn't just sell one type of steel to one type of buyer; they are deeply embedded across several foundational economic sectors.

The nonresidential construction and infrastructure market is definitely a major driver, as the demand for steel is directly tied to the level of this activity in the United States. We saw this reflected in the second quarter of 2025, where total tons shipped to outside customers increased 8% compared to the second quarter of 2024, showing resilient demand in these core areas. The plate group's new mill in Brandenburg, Kentucky, is specifically targeting new markets like bridge construction, which falls right into this infrastructure bucket. The company's overall operating rate at its steel mills reached 85% in the second quarter of 2025, up from 75% in the second quarter of 2024, indicating strong overall market pull from these construction-related customers.

The energy sector has shown sharp growth, which is a key area for Nucor's plate and structural products. For the first half of 2025, orders from the energy sector were up significantly, with shipments for transmission projects specifically jumping 88% year-over-year. This points to heavy investment in power infrastructure, utility structures, and oil/gas related construction.

The digital economy has created a unique, high-growth customer segment: data center construction. Nucor has strategically positioned itself here, forming a dedicated business unit called Nucor Data Systems to manage orders from hyperscalers and their developers. They claim to supply over 95% of all steel products required for a data center, from the building envelope to the interior infrastructure. This focus is paying off; in the third quarter of 2025, Nucor saw tonnage increase 28% for rebar fabrication and 50% for joist-and-deck products, directly fueled by this demand. Nucor executives described this opportunity as "white hot," forecasting data center construction to surge 30% year-over-year to 60 million square feet in 2026.

The automotive and general manufacturing industries are served through various product lines, including bar and structural steel. For instance, steel produced by Nucor's bar mills has wide usage serving end markets like agricultural, machinery, heavy truck, and trailer manufacturing. While specific revenue percentages for these direct manufacturing customers aren't broken out separately from other direct-to-manufacturer sales, the overall health of these sectors impacts the demand for Nucor's diverse product portfolio.

Finally, Nucor serves the distribution channel through steel service centers and independent fabricators. The Steel Mills segment sells its products primarily to steel service centers, fabricators and manufacturers. In the second quarter of 2025, steel mill shipments to internal customers (like Nucor's own Steel Products segment) represented 22% of total steel mill shipments. This means the remaining 78% went to external customers, a large portion of which are these service centers and fabricators who then distribute or process the steel further.

Here's a look at the flow of steel mill shipments to external versus internal customers in Q2 2025, which gives you a sense of the external market reliance:

Customer Type	Shipment Percentage (Q2 2025)	Comparison to Q2 2024
Internal Customers (Steel Products Segment)	22%	Up from 21%
External Customers (Service Centers, Fabricators, Direct Manufacturers)	78%	Implied from 100% - 22%

You can see the customer base is broad, but the focus on high-growth, specialized areas like data centers is a clear strategic pivot to capture higher margins. The company's total tons shipped to outside customers in the first six months of 2025 was approximately 13,650,000 tons.

• Nonresidential construction and infrastructure: Market demand driven by US nonresidential activity.
• Energy sector: Shipments for transmission projects up 88% in H1 2025.
• Data Center Construction: Nucor supplies over 95% of required steel products.
• Automotive/General Manufacturing: Served via Bar and Structural products.
• Steel Service Centers/Fabricators: Receive the majority of external shipments (implied 78% of total mill shipments in Q2 2025).

Nucor Corporation (NUE) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep Nucor Corporation's decentralized, high-volume Electric Arc Furnace (EAF) model running. The cost structure is dominated by raw materials, massive ongoing capital investment, and the operational costs tied to energy and labor.

Raw material costs are the single largest variable expense. Nucor is North America's largest recycler, making scrap steel and its substitutes the primary input. For the first half of 2025, the average cost for scrap and scrap substitutes was reported at $398 per gross ton.

This cost directly impacts metal margin, which is the difference between the selling price of steel and the cost of that raw material. For context, the average scrap and scrap substitute cost per gross ton used in the first quarter of 2025 was $394, a 6% decrease compared to the first quarter of 2024's cost of $421.

The company is in a heavy investment cycle, which translates to significant high capital expenditures (CapEx) for growth. The expected full-year CapEx for 2025 is set at $3.3 billion, with about two-thirds of that spend attributed to growth projects, including major greenfield facilities.

These growth projects also generate substantial non-operating costs before they start generating revenue. Significant pre-operating and start-up costs for new mills totaled $306 million in H1 2025. For example, first-quarter 2025 pre-operating and start-up costs alone were approximately $170 million.

The EAF process is inherently energy-intensive, meaning energy costs for operating Electric Arc Furnaces (EAFs) represent a major, fluctuating component of the operating expense base. These costs are managed through Nucor's strategic facility locations and procurement practices.

Finally, the decentralized structure requires significant investment in its people. Compensation and benefits for the decentralized workforce are a fixed cost component, heavily influenced by profit sharing. For instance, profit sharing costs for the full year 2024 were $298 million, which fluctuates based on financial performance.

Here's a quick look at some of the major financial outflows driving the cost structure:

• Raw material cost (H1 2025 average): $398 per gross ton
• Expected full-year CapEx for 2025: $3.3 billion
• Pre-operating and start-up costs (H1 2025 total): $306 million
• Q1 2025 CapEx reinvestment: $807 million
• Q1 2025 Pre-operating/Start-up costs: $170 million

You can see how the capital deployment ties directly to future capacity, but it creates a near-term drag on reported earnings through depreciation and those start-up expenses. The structure relies on keeping the scrap input cost manageable relative to the selling price.

Consider the breakdown of these major cost drivers:

Cost Category	Specific Metric/Period	Amount/Value
Raw Material Cost	Average Scrap Cost per Gross Ton (H1 2025)	$398
Capital Investment	Expected Full Year CapEx (2025)	$3.3 billion
Project Ramp-Up Costs	Pre-operating and Start-up Costs (H1 2025)	$306 million
Operational Input Cost	Energy for EAFs	Variable (Not specified)
Labor Cost Driver	Profit Sharing Costs (FY 2024)	$298 million

Finance: draft 13-week cash view by Friday.

Nucor Corporation (NUE) - Canvas Business Model: Revenue Streams

You're looking at how Nucor Corporation actually brings in the money, which, as you know, is the core of any business model. For Nucor Corporation, revenue streams are heavily tied to the massive scale of its steel production and related activities, as shown in their late 2025 reporting.

The top-line number for the third quarter of 2025 was quite strong: consolidated net sales totaled $8.52 billion. That's the total revenue coming in from all their operations for that 13-week period ending October 4, 2025.

The revenue generation is broken down across three main operating segments, and looking at the pre-tax earnings gives you a clear picture of where the profitability is concentrated for that quarter. Honestly, the Steel Mills segment is doing the heavy lifting.

Here's a quick look at the pre-tax earnings contribution from each segment for the three months ended October 4, 2025:

Segment	Q3 2025 Pre-Tax Earnings (in millions USD)
Steel Mills	$793
Steel Products	$319
Raw Materials	$43

The Steel Mills segment, which is the heart of Nucor Corporation's business, brought in pre-tax earnings of $793 million for the third quarter of 2025. This segment's revenue comes from selling its primary output, which you can see listed here:

• Carbon and alloy steel in bars, beams, sheet, and plate.
• Hollow structural section tubing and electrical conduit.
• Steel joists, joist girders, and steel deck.
• Fabricated concrete reinforcing steel and cold finished steel.

Next up is the Steel Products segment, which contributed pre-tax earnings of $319 million in Q3 2025. This segment focuses on downstream, value-added products. Their revenue streams include sales from:

• Steel racking and steel piling.
• Metal building systems and insulated metal panels.
• Overhead doors and steel grating.
• Utility structures.

The Raw Materials segment, which includes internal supply chain support, posted pre-tax earnings of $43 million for the quarter. This revenue is generated from:

• Direct Reduced Iron (DRI) and hot briquetted iron sales.
• Ferro-alloys supply.
• Processing of ferrous and nonferrous scrap metals.

While the segment earnings are clear, you should also note that the Steel Mills segment specifically includes revenue from steel trading and rebar distribution businesses, managed through affiliates like The David J. Joseph Company. The financial reports group the revenue from these activities within the overall Steel Mills segment results, so you won't see a separate line item for just the trading revenue, but it's a definite part of that $793 million pre-tax earnings figure.

Finance: draft the Q4 2025 revenue projection based on the sequential guidance by Monday.