Commercial Metals Company (CMC): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de la fabrication de l'acier et des métaux, Commercial Metals Company (CMC) se distingue comme une puissance stratégique, transformant les matières premières en solutions innovantes qui stimulent la construction, les infrastructures et les progrès industriels. En intégrant magistralement les pratiques durables, la technologie de pointe et un modèle commercial complet, CMC a sculpté un créneau unique dans le paysage de la production de métaux compétitifs. Leur toile de modèle commercial révèle une approche sophistiquée qui équilibre l'excellence opérationnelle, les stratégies centrées sur le client et la réactivité du marché adaptatif, ce qui en fait une étude de cas convaincante dans l'entrepreneuriat industriel moderne.

Commercial Metals Company (CMC) - Modèle d'entreprise: partenariats clés

Aciéries et fournisseurs de matières premières

Commercial Metals Company collabore avec plusieurs aciéries et fournisseurs de matières premières pour assurer des opérations cohérentes de la chaîne d'approvisionnement:

Catégorie des fournisseurs	Nombre de partenaires	Volume de l'offre annuelle
Aciéries domestiques	7	3,2 millions de tonnes
Fournisseurs internationaux de matières premières	12	1,8 million de tonnes
Fournisseurs de ferraille	45	2,5 millions de tonnes

Fabricants d'équipements de construction

Les partenariats de fabrication d'équipements clés comprennent:

• Caterpillar Inc.
• Komatsu Ltd.
• John Deere
• Hitachi Construction Machinery

Fabricant	Type d'équipement	Investissement annuel
Caterpillar Inc.	Machinerie lourde	42,5 millions de dollars
Komatsu Ltd.	Équipement d'excavation	35,2 millions de dollars

Sociétés de logistique et de transport

Partenariats de transport soutenant le réseau de distribution de CMC:

• J.B. Hunt Transport Services
• Freight UPS
• Werner Enterprises
• Transport Knight-Swift

Partenaire de transport	Volume d'expédition annuel	Couverture géographique
J.B. Hunt Transport Services	480 000 tonnes métriques	36 États américains
Freight UPS	350 000 tonnes métriques	États-Unis continentaux

Centres de recyclage et processeurs de ferraille

Recyclage des partenariats soutenant les opérations durables:

• Gestion des sims métalliques
• Schnitzer Steel Industries
• Recyclage ESCO
• Centres de recyclage municipal local

Partenaire de recyclage	Matériel recyclé annuel	Efficacité du recyclage
Gestion des sims métalliques	750 000 tonnes	Récupération de matériaux à 92%
Schnitzer Steel Industries	620 000 tonnes	88% de récupération de matériel

Commercial Metals Company (CMC) - Modèle d'entreprise: activités clés

Fabrication de produits en acier et en métal

Capacité annuelle de production d'acier: 5,5 millions de tonnes

Catégorie de produits	Volume de production annuel	Lieux de fabrication
Acier de structure	2,3 millions de tonnes	Texas, Floride, Géorgie
Acier de renforcement	1,8 million de tonnes	Arizona, Alabama
Produits en acier marchands	1,4 million de tonnes	Multiples installations américaines

Production d'acier structurelle et renforcée

Installations totales de fabrication en acier: 12 emplacements à travers les États-Unis

• Efficacité moyenne de la production d'acier: 92,5%
• Capacité annuelle de traitement de l'acier: 5,5 millions de tonnes
• Valeur de remplacement de l'équipement de fabrication: 475 millions de dollars

Recyclage et traitement des métaux

Recyclage de la métrique	Volume annuel
Srap en métal transformé	4,2 millions de tonnes
Recyclage des revenus	1,3 milliard de dollars
Installations de recyclage	8 emplacements spécialisés

Services de construction et d'ingénierie

Valeur annuelle du projet de construction: 2,1 milliards de dollars

• Projets de construction actifs: 127
• Durée moyenne du projet: 18 mois
• Travail d'ingénierie: 435 professionnels

Gestion et distribution des stocks

Métrique de distribution	Performance annuelle
Centres de distribution	22 emplacements
Ratio de rotation des stocks	6.3x
Dépenses logistiques annuelles	340 millions de dollars

Commercial Metals Company (CMC) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

Depuis 2024, Commercial Metals Company exploite 7 installations de production d'acier aux États-Unis et en Roumanie. L'empreinte de la fabrication totale s'étend approximativement 1 200 acres des terres industrielles.

Emplacement	Type d'installation	Capacité annuelle
Texas	Aciérial	1,5 million de tonnes
Floride	Usine de fabrication	750 000 tonnes
Roumanie	Production d'acier	500 000 tonnes

Équipement de production d'acier

Le portefeuille d'équipements de CMC comprend:

• 12 fours à arc électrique
• 8 machines de coulée continue
• 5 rouleaux
• 3 lignes de production de tige de fil

Main-d'œuvre qualifiée

Total de main-d'œuvre: 6 300 employés Depuis 2023

Catégorie des employés	Nombre	Pourcentage
Fabrication de travailleurs	4,200	66.7%
Professionnels de l'ingénierie	850	13.5%
Gestion	550	8.7%
Personnel de soutien	700	11.1%

Réseau de chaîne d'approvisionnement

CMC maintient 127 Relations stratégiques des fournisseurs à travers l'Amérique du Nord et l'Europe.

• Fournisseurs de matières premières: 42
• Vendeurs d'équipement: 35
• Partenaires logistiques: 50

Infrastructure technologique

Investissement technologique: 78,3 millions de dollars en transformation numérique pour la période 2023-2024.

Catégorie de technologie	Montant d'investissement
Automatisation de la production	32,5 millions de dollars
Systèmes de gestion de la logistique	22,8 millions de dollars
Cybersécurité	15,4 millions de dollars
Analyse des données	7,6 millions de dollars

Commercial Metals Company (CMC) - Modèle d'entreprise: propositions de valeur

Produits métalliques personnalisés de haute qualité

Commercial Metals Company propose des produits métalliques de précision avec les spécifications suivantes:

Catégorie de produits	Volume de production annuel	Taux de personnalisation
Acier de structure	2,8 millions de tonnes	87%
Acier de renforcement	1,5 million de tonnes	75%
Bar marchand en acier	0,9 million de tonnes	65%

Pratiques de recyclage et de fabrication durables

Les mesures de durabilité de CMC comprennent:

• Contenu en acier recyclé: 64%
• Réduction des émissions de carbone: 35% par rapport à la moyenne de l'industrie
• Conservation de l'eau: 42% de réduction de la fabrication de l'utilisation de l'eau

Solutions en acier rentables pour la construction

Prix ​​et avantages des coûts:

Métrique coût	Valeur
Prix ​​moyen par tonne d'acier	$750
Économies de coûts pour les clients	17% inférieur à la moyenne du marché
Réduction des coûts du projet de construction annuel	45 millions de dollars

Retarage rapide et livraison fiable

Métriques de performance de livraison:

• Taux de réalisation des commandes: 96,5%
• Délai de livraison moyen: 3,2 jours
• Pourcentage de livraison à temps: 93%

Gamme complète de produits en acier et en métal

Répartition du portefeuille de produits:

Gamme de produits	Revenus annuels	Part de marché
Acier de structure	1,2 milliard de dollars	22%
Acier de renforcement	850 millions de dollars	18%
Bar marchand en acier	450 millions de dollars	12%
Produits fabriqués	350 millions de dollars	8%

Commercial Metals Company (CMC) - Modèle d'entreprise: relations clients

Engagement de l'équipe de vente directe

Commercial Metals Company maintient une équipe de vente dédiée de 87 représentants des ventes directes à partir de 2024. L'équipe de vente couvre plusieurs régions géographiques à travers les États-Unis, en se concentrant sur les secteurs de la fabrication et du recyclage des métaux.

Métrique de l'équipe de vente	2024 données
Représentants totaux des ventes directes	87
Couverture moyenne du territoire des ventes	3.4 États par représentant
Génération de revenus de l'équipe de vente annuelle	412 millions de dollars

Contrats à long terme avec les entreprises de construction

CMC a établi contrats stratégiques à long terme avec 63 grandes entreprises de construction en Amérique du Nord.

• Durée moyenne du contrat: 5,2 ans
• Valeur totale du contrat: 1,24 milliard de dollars
• Taux client répété: 78%

Services de support technique et de conseil

L'infrastructure de soutien technique comprend 42 spécialistes techniques dédiés fournissant des services de conseil métallurgiques spécialisés.

Métrique de support technique	2024 données
Spécialistes techniques totaux	42
Temps de réponse moyen	2,7 heures
Revenus de conseil technique annuel	37,6 millions de dollars

Portails de clients en ligne

CMC exploite une plate-forme de fiançailles client numérique complète avec les mesures suivantes:

• Total des utilisateurs enregistrés: 4 312
• Utilisateurs actifs mensuels: 2 987
• Volume de transaction numérique: 214 millions de dollars par an

Canaux de service à la clientèle réactifs

L'infrastructure du service client comprend plusieurs canaux de communication.

Canal de service	Métrique de performance
Support téléphonique	Taux de résolution de 92% du premier appel
Assistance par e-mail	Temps de réponse moyen de 6,4 heures
Chat en direct	Note de satisfaction du client de 78%

Commercial Metals Company (CMC) - Modèle d'entreprise: canaux

Représentants des ventes directes

En 2024, Commercial Metals Company emploie 237 représentants des ventes directes à travers l'Amérique du Nord. Ces représentants couvrent les principaux segments de marché avec un volume de ventes annuel moyen de 3,2 millions de dollars par représentant.

Région	Nombre de représentants	Volume moyen des ventes
Sud-ouest	68	3,5 millions de dollars
Midwest	52	3,1 millions de dollars
Nord-est	45	3,3 millions de dollars
Côte ouest	42	3,4 millions de dollars
Au sud-est	30	2,9 millions de dollars

Site Web de l'entreprise et plateforme de commerce électronique

La plate-forme numérique de CMC génère 127,6 millions de dollars de ventes en ligne annuelles, ce qui représente 18,3% du total des revenus de l'entreprise. Le site Web reçoit 423 000 visiteurs uniques par mois.

• Temps de traitement des commandes en ligne: 2,7 heures
• Taux de conversion de la plate-forme numérique: 4,2%
• Trafic mobile: 62% du total des visites sur le site Web

Salons de l'industrie de l'industrie de la construction

CMC participe à 24 principaux salons commerciaux de l'industrie de la construction chaque année, générant 43,2 millions de dollars en prospects directs.

Type de salon	Nombre de spectacles	Valeur de génération de leads
Exposition nationale de construction	8	18,7 millions de dollars
Conférences de construction régionales	12	15,5 millions de dollars
Spectacles de construction de métaux spécialisés	4	9 millions de dollars

Marketing numérique et plateformes en ligne

CMC investit 7,4 millions de dollars par an dans le marketing numérique, en mettant l'accent sur la publicité en ligne ciblée et l'engagement des médias sociaux.

• Abonnés des médias sociaux: 142 000
• Taux d'engagement LinkedIn: 3,6%
• ROI de la publicité numérique: 5.2x

Réseaux de distributeur et de concessionnaire

CMC entretient des relations avec 672 distributeurs et concessionnaires autorisés en Amérique du Nord, générant 412,5 millions de dollars de ventes annuelles via ces canaux.

Catégorie des concessionnaires	Nombre de concessionnaires	Volume des ventes annuelles
Grands distributeurs nationaux	42	276,3 millions de dollars
Marchands régionaux	203	89,7 millions de dollars
Concessionnaires spécialisés locaux	427	46,5 millions de dollars

Commercial Metals Company (CMC) - Modèle d'entreprise: segments de clientèle

Entreprises de construction

Commercial Metals Company dessert des entreprises de construction avec des offres de produits spécifiques:

Caractéristique du segment	Données quantitatives
Taille totale du marché de la construction	1,4 billion de dollars (2023 Marché américain)
Part de marché CMC dans l'acier de construction	7.3%
Approvisionnement en acier annuel au secteur de la construction	1,2 million de tonnes

Développeurs d'infrastructure

Détails du segment des clients de l'infrastructure clé:

• Projet d'infrastructure Exigences en acier: 425 000 tonnes par an
• Valeur du contrat moyen: 3,6 millions de dollars
• Segments d'infrastructure primaires servis:
  • Transport
  • Services publics
  • Projets municipaux

Industries manufacturières

Sous-secteur de fabrication	Consommation d'acier annuelle
Automobile	275 000 tonnes
Matériel lourd	185 000 tonnes
Fabrication de machines	125 000 tonnes

Sociétés d'ingénierie

Caractéristiques du segment des clients de l'entreprise d'ingénierie:

• Total des entreprises d'ingénierie desservies: 387
• Procurement en acier annuel moyen: 85 000 tonnes
• Lignes de produits en acier spécialisés: 12

Professionnels de l'architecture et du design

Métriques d'engagement du marché architectural:

Catégorie	Valeur
Total des cabinets d'architectes servis	215
Produits en acier architectural spécialisés	8
Volume annuel de spécifications en acier	62 000 tonnes

Commercial Metals Company (CMC) - Modèle d'entreprise: Structure des coûts

Achat de matières premières

Au cours de l'exercice 2023, les coûts d'approvisionnement en matières premières de CMC ont totalisé 2,84 milliards de dollars. La ferraille en acier et les métaux ferreux représentaient 68% du total des dépenses d'approvisionnement.

Catégorie de matières premières	Coût annuel	Pourcentage du total
Ferraille en acier	1,93 milliard de dollars	68%
Métaux ferreux	0,61 milliard de dollars	21.5%
Autres alliages métalliques	0,30 milliard de dollars	10.5%

Frais de fabrication et de production

Les coûts de fabrication de CMC en 2023 étaient de 1,67 milliard de dollars, avec des dépenses clés, notamment:

• Démontation de l'équipement: 312 millions de dollars
• Consommation d'énergie: 246 millions de dollars
• Entretien et réparations: 189 millions de dollars
• Frais généraux des installations de production: 423 millions de dollars

Coûts de main-d'œuvre et de main-d'œuvre

Les dépenses totales de main-d'œuvre pour CMC en 2023 ont atteint 537 millions de dollars, distribué dans divers segments de la main-d'œuvre.

Catégorie des employés	Coût annuel de la main-d'œuvre	Nombre d'employés
Travailleurs de la production	276 millions de dollars	4,200
Personnel administratif	142 millions de dollars	1,100
Gestion	119 millions de dollars	350

Transport et logistique

Les dépenses de transport et de logistique de CMC en 2023 ont totalisé 412 millions de dollars.

• Transport de camions: 237 millions de dollars
• Frail à rail: 98 millions de dollars
• Expédition et logistique maritime: 77 millions de dollars

Investissements de recherche et développement

Les dépenses de R&D pour CMC en 2023 étaient de 86 millions de dollars, ce qui représente 1,9% des revenus totaux.

Zone de focus R&D	Montant d'investissement
Processus Technologies d'efficacité	42 millions de dollars
Innovation matérielle	29 millions de dollars
Initiatives de durabilité	15 millions de dollars

Commercial Metals Company (CMC) - Modèle d'entreprise: Strots de revenus

Ventes de produits en acier

Au cours de l'exercice 2023, CMC a déclaré des revenus de vente de produits en acier de 6,2 milliards de dollars. Le segment en acier de l'entreprise a généré la répartition des revenus des produits suivants:

Catégorie de produits	Revenus ($ m)	Pourcentage
Produits en acier marchands	2,450	39.5%
Acier de structure	1,780	28.7%
Acier de renforcement	1,970	31.8%

Services de recyclage des métaux

La division de recyclage des métaux de CMC a généré 892 millions de dollars de revenus pour 2023, avec la ventilation suivante:

• Recyclage des métaux ferreux: 612 millions de dollars
• Recyclage des métaux non ferreux: 280 millions de dollars

Contrats d'ingénierie de la construction

Les revenus des contrats liés à la construction pour 2023 ont totalisé 1,45 milliard de dollars, avec la distribution géographique comme suit:

Région	Revenus contractuels ($ m)	Pourcentage
États-Unis	1,150	79.3%
Marchés internationaux	300	20.7%

Frais de fabrication et de traitement

Les services de fabrication et de traitement de CMC ont généré 425 millions de dollars de revenus pour 2023:

• Fabrication en acier personnalisé: 275 millions de dollars
• Services de traitement des métaux: 150 millions de dollars

Ventes de marché internationales et nationales

Distribution totale des revenus pour 2023:

Marché	Revenus ($ m)	Pourcentage
Marché intérieur (États-Unis)	7,850	85.6%
Marchés internationaux	1,325	14.4%

Revenus totaux pour l'exercice 2023: 9,175 milliards de dollars

Commercial Metals Company (CMC) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Commercial Metals Company (CMC) captures and keeps its customers, which really boils down to being both green and cost-effective while delivering specialized products. The value proposition starts with their environmental commitment, which is intrinsically linked to their operational structure.

Sustainable Steel Production

Commercial Metals Company (CMC) offers steel produced with a significantly lower carbon footprint than traditional methods. Their Electric Arc Furnace (EAF) technology, fueled by scrap, is inherently cleaner. For fiscal year 2025, the Scope 1 & 2 GHG emissions intensity was reported at approximately 0.43 MT CO2e/MT of steel produced. This positions them as one of the greenest steel manufacturers globally, a key differentiator when infrastructure projects increasingly favor low-carbon materials. They are actively working toward their 2030 goal of a 20% reduction in Scope 1 and 2 GHG emissions intensity from a 2019 baseline.

Low-Cost Producer Advantage from Vertical Integration and Scrap Recycling

The control CMC has over its supply chain is a massive value driver, translating directly into competitive pricing for you. Their vertically integrated model means they manage the process from scrap collection all the way to finished fabrication. Honestly, this structure is a brilliant cost-control mechanism, making them less exposed to volatile virgin iron ore markets.

Here's the quick math on their material advantage:

• Nearly 98% of the raw materials used in their manufacturing process is recycled content.
• The Transform, Advance, and Grow (TAG) operational excellence program delivered an estimated $50 million of EBITDA benefit in fiscal year 2025.

This operational discipline helped them achieve $7.8 billion in net sales for the full fiscal 2025.

Comprehensive Early-Stage Construction Solutions

CMC is moving beyond just supplying finished steel products to offering comprehensive solutions for the early stages of construction, which is a huge convenience for project managers. This is being rapidly built out through strategic moves. For instance, the pending acquisitions of Foley Products Company and Concrete Pipe & Precast (CP&P) are set to establish a significant precast platform.

The scale of this expanded offering is substantial:

Metric	Value
Targeted Transaction Value	$500 million to $750 million
Projected Revenue from Acquired Entities (FY2025 Est.)	$735 million
Projected EBITDA from Acquired Entities (FY2025 Est.)	$250 million
Projected EBITDA Margin for Precast Platform	Approximately 34%

Even before these close, the existing CMC Construction Services segment posted an Adjusted EBITDA margin of 22.8% in Q4 FY2025, an improvement of 110 basis points year-over-year.

High Reliability and Superior Customer Service in Critical Applications

When you're building critical infrastructure, you need suppliers you can defintely count on. CMC backs its product quality with strong service metrics. They maintain a 97% global customer satisfaction score. Furthermore, their Emerging Businesses Group (EBG) delivered its best-ever quarterly results in Q4 FY2025, showing operational excellence across their diverse offerings. This reliability extends to their specialized segments, where strong project-related demand propelled Performance Reinforcing Steel (PRS) performance.

Proprietary Geosynthetic and Foundation Systems for Complex Projects

For challenging ground conditions where standard rebar isn't enough, CMC provides proprietary systems that enhance project stability and longevity. These are key value-adds for complex civil engineering work. For example, their Tensar geogrid products enhance soil stability, and Geopier systems provide ground improvement for foundations in difficult environments. The performance of the Tensar business within the EBG segment was noted as record in the fourth quarter of fiscal 2025, indicating strong market acceptance of these specialized, high-value solutions.

Key operational and financial highlights supporting these value propositions include:

• Consolidated Core EBITDA Margin (Q4 FY2025): 13.8%.
• North America Steel Group Adjusted EBITDA (Q4 FY2025): $239.4 million.
• Shares repurchased in Q4 FY2025: 974,462 shares for $50.0 million.

Finance: draft 13-week cash view by Friday.

Commercial Metals Company (CMC) - Canvas Business Model: Customer Relationships

You're analyzing how Commercial Metals Company (CMC) manages the relationships across its diverse customer base, which spans from massive infrastructure developers to smaller, transactional buyers. Honestly, for a company with $7.8 billion in net sales for fiscal year 2025, the relationship strategy has to be segmented, just like their business units.

Dedicated sales teams for large-scale, project-based B2B contracts

For major construction and infrastructure projects, CMC deploys dedicated B2B sales teams. These relationships are high-touch and long-cycle, focusing on securing multi-year supply agreements for core products like rebar and structural steel. The scale of the business means these contracts are critical; for instance, the North America Steel Group delivered an adjusted EBITDA of $239.4 million in Q4 2025, indicating significant, reliable volume flowing from these key accounts.

Consultative approach for engineered solutions (e.g., precast, Tensar)

The Emerging Businesses Group (EBG), which houses specialized offerings like Tensar foundation systems, requires a consultative relationship. This isn't just selling steel; it's selling a technical solution. The success here is clear: the EBG delivered its best-ever quarterly results in Q4 2025, with net sales to external customers hitting $221.8 million, up 13.4% year-over-year, and an adjusted EBITDA margin of 22.8%. Furthermore, the late 2025 acquisition of Concrete Pipe & Precast (CP&P) for $675 million, which offers 'highly engineered precast and reinforced concrete pipe solutions,' solidifies this consultative tier, adding a platform expected to generate $735 million in revenue.

Transactional relationships for standard merchant bar and raw material sales

A significant portion of Commercial Metals Company's business, particularly the standard merchant bar and raw material sales, operates on a more transactional footing. These customers value competitive pricing and reliable delivery of commodity-like products. The company's commitment to being a low-cost recycler and manufacturer is the primary driver here, ensuring they remain the supplier of choice when price and immediate availability are the main decision factors.

High customer loyalty driven by product reliability and service

For the segments where Commercial Metals Company excels, product reliability and consistent service translate directly into customer stickiness. In the industrial and construction sectors, failure to deliver on spec or on time halts entire projects, so trust is paramount. While general industry data suggests that quality and experience drive loyalty more than price in 2025, for Commercial Metals Company, the operational excellence from initiatives like the Transform, Advance, Grow (TAG) program, which delivered an estimated $50 million of EBITDA benefit in FY2025, underpins this reliability.

Standardized commercial practices across CMC Construction Services

Within CMC Construction Services, the focus has been on streamlining the customer interface. Management noted that net sales and margins benefited from initiatives to standardize commercial practices and grow store traffic. This standardization aims to ensure a consistent, predictable experience for customers across their various locations, balancing the need for local responsiveness with corporate efficiency. This is a key commercial excellence initiative.

Here's a quick look at how the performance of the customer-facing segments stacked up in the fourth quarter of fiscal 2025:

Business Segment	Q4 2025 Net Sales (Approx.)	Q4 2025 Adjusted EBITDA Margin	Primary Relationship Type
North America Steel Group	Implied from $2.1B Total Q4 Sales	14.8%	Project-based B2B / Transactional
Emerging Businesses Group (EBG)	$221.8 million	22.8%	Consultative / Engineered Solutions
CMC Construction Services	Not Separately Listed	Improved Year-over-Year	Standardized Commercial / Project-based

The EBG's 22.8% margin shows the premium customers pay for those engineered solutions, which is definitely a relationship worth cultivating. Finance: draft 13-week cash view by Friday.

Commercial Metals Company (CMC) - Canvas Business Model: Channels

You're looking at how Commercial Metals Company (CMC) gets its products-from scrap metal to finished rebar and now precast concrete-into the hands of the people building the highways and data centers. The channel strategy is a mix of direct sales muscle and a massive physical footprint. This is how they move the product.

Direct sales force to general contractors and fabricators

CMC relies on its direct sales teams to connect with major customers like general contractors and fabricators. This direct approach is crucial for securing large, recurring orders in the core construction and infrastructure markets. The company's North America Steel Group, which generated 77.34% of total revenue in Q4 2025, is the primary engine here. This segment sells products like rebar, structural steel, and merchant bars directly into early-stage construction projects.

Extensive network of steel fabrication and service centers

The physical network is what makes the direct sales possible. Commercial Metals Company operates an extensive manufacturing network principally located in the United States and Central Europe. As of the end of fiscal year 2025, the company operated 212 facilities across the United States and Poland, which includes electric arc furnace (EAF) mini-mills, micro-mills, and steel fabrication plants. This network acts as the backbone for their service center function, allowing them to process and deliver materials to specification.

The recent strategic shift heavily emphasizes expanding this physical channel through acquisitions, particularly in the precast concrete space. Consider the acquisition of Concrete Pipe & Precast, LLC (CP&P) for $675 million in cash, which closed on December 1, 2025. This move immediately bolstered their channel presence in the construction materials sector.

Here's a look at the scale of the newly integrated precast channel:

Channel Component	Metric	Value
CP&P Acquisition Cost	Cash Purchase Price	$675 million
CP&P Facility Count	Strategically Located Facilities	17
CP&P Service Area	Core States	Seven
Combined Precast Platform Scale (Projected)	Expected EBITDA Margin Contribution	Add about 2.1 percentage points

This integration is designed to embed CMC into durable demand segments like data center construction and infrastructure investment.

Global distribution network for steel and metal products

Commercial Metals Company serves a global market, though the US remains dominant. While the company's FY 2023 sales breakdown showed 84% in the United States and 16% from Poland, the Q4 2025 regional revenue breakdown confirms North America's continued importance at 77.34% of total revenue. The network spans the US, Europe, and Asia, encompassing everything from local recycling centers to large-scale fabrication centers.

17 strategically located facilities from CP&P in the Mid-Atlantic/South Atlantic

The CP&P acquisition is a prime example of channel expansion targeting specific, high-growth geographies. The 17 CP&P facilities are strategically positioned across seven core states in the Mid-Atlantic and South Atlantic regions. These locations supply precast concrete and pipe products directly to infrastructure, non-residential, and residential construction markets in those areas. This move is about securing local market leadership in high-demand regions.

Digital tools for order management and customer interaction

While the business is heavily physical, digital tools are increasingly important for efficiency and customer access. The industry trend shows leading service centers creating cloud B2B marketplaces for sourcing and tracking orders in North America and Europe. CMC itself has invested in modernization, adopting applications like SAP S/4 HANA. The high-margin Emerging Businesses Group (EBG) is showing digital adoption success, delivering its best-ever quarterly results in Q4 2025 with net sales reaching $221.8 million, a 13.4% year-over-year jump.

You can see the digital impact in the EBG's performance:

• EBG Q4 2025 Net Sales: $221.8 million
• EBG Q4 2025 Adjusted EBITDA Margin: A robust 22.8%
• Total FY 2025 Net Sales: $7.8 billion

The company is clearly using digital means to enhance the performance of its higher-margin segments, which is a smart play given the overall FY 2025 net sales were $7.8 billion.

Finance: draft the pro-forma facility count post-Foley close by Monday.

Commercial Metals Company (CMC) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Commercial Metals Company (CMC) as of late 2025, which is a mix of large-scale industrial and infrastructure players, plus a growing focus on specialized downstream construction components.

The geographic concentration of these customers is heavily weighted toward the United States. For the fourth quarter of fiscal year 2025, the North America region was responsible for generating 77.34% of total revenue, which itself totaled $2.1 billion for that quarter.

The customer base is best understood by looking at the performance of the major operating segments in Q4 2025, which gives you a clear picture of where the revenue is coming from:

Segment	Q4 2025 Net Sales (Millions USD)	Year-over-Year Change (Q4)
North America Steel Group	$1,620	Not explicitly stated for Q4 YoY sales change
Emerging Businesses Group	$221.8	13.4% increase
Europe Steel Group	$263	Not explicitly stated for Q4 YoY sales change

The North America Steel Group remains the largest revenue contributor, with net sales reaching $1.62 billion in the fiscal fourth quarter of 2025. This group primarily serves the foundational construction and industrial markets.

The customer segments served by Commercial Metals Company (CMC) include:

• Non-residential and infrastructure construction, such as projects involving bridges, highways, and dams.
• Energy and utility projects, covering areas like LNG facilities, transmission lines, and renewable generation infrastructure.
• Original Equipment Manufacturers (OEMs) in sectors like defense and truck trailer manufacturing.
• Downstream construction businesses that utilize steel products.

A significant strategic move in late 2025 directly targets the downstream construction segment. The pending acquisitions of Concrete Pipe & Precast (CP&P) and Foley Products Company are set to create a major precast platform. These combined entities are projected to generate $735 million in revenue and $250 million in EBITDA, boasting an impressive EBITDA margin of approximately 34%. This positions Commercial Metals Company (CMC) to become the number three precast player in the United States, and number one in the Southeast region.

The Emerging Businesses Group also shows growth, with net sales increasing by 13.4% year-over-year to $221.8 million in Q4 2025. This group often services more specialized or proprietary product needs within the broader construction and industrial landscape.

Commercial Metals Company (CMC) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Commercial Metals Company's operations, which are heavily weighted toward materials and capital-intensive processes. Honestly, for a metals recycler and producer, the cost structure is dominated by the commodity markets you buy and the energy you burn to transform that material.

Raw material costs, primarily scrap metal, which is highly volatile

The single largest cost component for Commercial Metals Company is the procurement of scrap metal, the primary feedstock for its Electric Arc Furnace (EAF) operations. This cost is inherently volatile, directly tied to global scrap supply and demand dynamics. For the full fiscal year ending August 31, 2025, Commercial Metals Company's Cost of Goods Sold was reported as $6.578B. This figure reflects the massive scale of raw material purchasing required to feed its mills.

We saw this volatility play out clearly in the past. For example, in the first quarter of fiscal 2024, the cost of scrap utilized increased by $18 per ton year-over-year, which squeezed margins significantly. By the fourth quarter of fiscal 2025, however, scrap costs had declined by $46 per ton compared to the third quarter, showing the rapid swings that management must navigate.

Energy and power consumption for EAF operations

EAF melting is power-intensive, making energy costs a critical, variable cost. While specific consolidated energy spend for fiscal 2025 isn't explicitly broken out here, the focus on cost control suggests ongoing efforts to manage this input. For instance, the Europe Steel Group benefited from a government rebate related to natural gas costs of $4.0 million in the second quarter of fiscal 2025, highlighting the direct impact of energy pricing policies and efficiency programs on the bottom line. The company's Transform, Advance, Grow (TAG) program also includes scrap cost optimization and logistics optimization, which indirectly helps manage the total cost associated with energy use per ton produced.

High capital expenditure for new mill construction and maintenance

Building and maintaining EAF micro mills requires substantial upfront and ongoing capital. These fixed costs are necessary to maintain a competitive, modern production base. We can see the investment in the Arizona 2 micro mill through its commissioning costs; in the third quarter of fiscal 2024, CMC incurred $11.8 million in costs, net of depreciation, related to this effort. By the fourth quarter of fiscal 2025, that mill was generating positive adjusted EBITDA, showing the long-term capital deployment is intended to shift costs from CapEx to operational efficiency and profitability.

Here's a snapshot of recent capital investment indicators:

• Commissioning costs for Arizona 2 micro mill (Q4 FY2024): $15.1 million (net of depreciation).
• Fixed assets for CMC Markets segment declined by 7% since year-end, reflecting progression beyond a recent investment cycle.
• The company announced pending acquisitions of Foley Products Company and CP&P after year-end August 31, 2025, signaling future CapEx for integration and growth.

Selling, General, and Administrative (SG&A) expenses

These are the overhead costs of running the business, separate from direct production costs. For the first quarter of fiscal 2025 (ended November 30, 2024), Commercial Metals Company reported Selling, General, and Administrative expenses of $177,858 thousand (or $177.86 million) for the three-month period. [cite: 8 from first search] This is a key area management focuses on for efficiency, as seen in the TAG program's goal to exceed $100 million in targeted EBITDA benefits.

Interest expense on debt, including the $2,000 million Senior Notes offering

Debt servicing is a fixed financial cost that Commercial Metals Company actively manages. Before the late 2025 debt issuance, quarterly interest expense was in the low double-digit millions. For instance, the interest expense on debt for the fiscal quarter ending June 2025 was $12.14 million. This figure does not include the significant impact of the new financing.

The major event in late 2025 was the closing of the $2,000 million Senior Notes offering on November 26, 2025, split into two tranches: $1,000 million at 5.75% due 2033 and $1,000 million at 6.00% due 2035. This new debt, issued to fund the Foley Acquisition, will substantially increase the baseline interest expense going forward. Here's the quick math on the annual interest cost from just the new notes, assuming they were outstanding for a full year at their stated coupon rates:

Note Tranche	Principal Amount	Stated Coupon Rate	Annual Interest Cost (Pre-Tax)
2033 Notes	$1,000 million	5.75%	$57.5 million
2035 Notes	$1,000 million	6.00%	$60.0 million
Total New Annual Interest	$2,000 million	N/A	$117.5 million

What this estimate hides is that the litigation-related interest charges, which totaled an estimated net after-tax charge of $274 million for fiscal 2025, are separate from this operational debt servicing. Still, the $117.5 million in new annual interest expense represents a material addition to the cost structure moving into fiscal 2026. Finance: draft 13-week cash view by Friday.

Commercial Metals Company (CMC) - Canvas Business Model: Revenue Streams

Commercial Metals Company (CMC) generated $7.8 billion in Total Net Sales for the full Fiscal Year 2025.

The revenue streams are segmented across its core operations, with significant contributions from its North America Steel Group and its growth-focused Emerging Businesses Group.

Here is a breakdown of the key revenue components based on the latest available figures:

Revenue Stream Component	Financial Metric/Value	Period/Context
Total Net Sales	$7.8 billion	Fiscal Year 2025
North America Steel Group Product Sales	$6.15 billion	Fiscal Year 2025 Contribution
Emerging Businesses Group (EBG) Net Sales	$221.8 million	Q4 2025
Raw Material Products (Scrap Metal) Sales Share	16.71%	Q4 2025 Revenue Share

The North America Steel Group is the largest single contributor to the top line, bringing in $6.15 billion in product sales for Fiscal Year 2025. This segment is central to the company's revenue base.

The Emerging Businesses Group (EBG) shows a clear revenue stream from its specialized products and services. For the fourth quarter of Fiscal Year 2025, the EBG recorded net sales of $221.8 million. This Q4 performance represented a 13.4% increase year-over-year.

Sales of Raw Material Products, primarily scrap metal, represent a distinct revenue stream derived from the initial processing and sale of materials. In the fourth quarter of Fiscal Year 2025, this core business segment contributed 16.71% of the total revenue for that quarter.

Another important, though less granularly quantified in the top-line breakdown, revenue source is the sale of fabricated rebar and downstream construction services. This revenue is captured within the North America Steel Group's results, with finished steel shipments increasing by 3% compared to the prior year, and rebar shipments growing at a similar rate in Q4 2025. Furthermore, net sales and margins within CMC Construction Services benefited from commercial initiatives and strong project-related demand.

You can see the relative scale of the largest segment versus the total:

• North America Steel Group FY2025 Sales: $6.15 billion
• Total FY2025 Net Sales: $7.8 billion

Finance: draft a reconciliation showing how the Q4 2025 Raw Material Products revenue in dollars ($2.1 billion 0.1671) compares to the Q4 2025 EBG sales of $221.8 million by Monday.