United States Steel (X) Financials

$54.97 +0.13 (+0.24%)

Closing price 06/18/2025

Extended Trading

$54.97 0.00 (0.00%)

As of 06/18/2025 08:20 AM Eastern

Annual Income Statements for United States Steel

This table shows United States Steel's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-1,642	-440	387	1,115	-630	-1,165	4,174	2,524	895	384
Consolidated Net Income / (Loss)	-1,642	-440	387	1,115	-630	-1,165	4,174	2,524	895	384
Net Income / (Loss) Continuing Operations	-1,642	-440	387	1,115	-630	-1,165	4,174	2,524	895	384
Total Pre-Tax Income	-1,459	-416	301	812	-452	-1,307	4,344	3,259	1,047	438
Total Operating Income	-1,202	-201	669	1,124	-230	-1,075	4,946	3,160	799	240
Total Gross Profit	433	-8,392	1,392	1,873	855	186	5,742	4,288	2,250	1,580
Total Revenue	11,574	1,216	12,250	14,178	12,937	9,741	20,275	21,065	18,053	15,640
Operating Revenue	11,574	1,216	12,250	14,178	12,937	9,741	20,275	21,065	18,053	15,640
Total Cost of Revenue	11,141	9,608	10,858	12,305	12,082	9,555	14,533	16,777	15,803	14,060
Operating Cost of Revenue	11,141	9,608	10,858	12,305	12,082	9,555	14,533	16,777	15,803	14,060
Total Operating Expenses	1,635	-8,191	723	749	1,176	1,261	796	1,128	1,451	1,340
Selling, General & Admin Expense	415	306	320	336	289	277	426	422	501	435
Depreciation Expense	547	507	501	521	616	643	791	791	916	913
Other Operating Expenses / (Income)	-1.00	-9,047	-6.00	-102	-3.00	89	-35	-296	-131	-35
Impairment Charge	0.00	14	-	0.00	0.00	263	273	163	129	19
Restructuring Charge	322	122	31	0.00	275	138	128	48	36	8.00
Total Other Income / (Expense), net	-257	-215	-368	-312	-131	-232	-602	99	248	198
Interest Expense	250	252	280	266	142	280	605	159	72	26
Interest & Investment Income	3.00	5.00	17	23	17	32	4.00	290	338	253
Other Income / (Expense), net	-10	32	-105	-69	-6.00	16	-1.00	-32	-18	-29
Income Tax Expense	183	24	-86	-303	178	-142	170	735	152	54
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00
Basic Earnings per Share	($11.24)	($2.81)	$2.21	$6.31	($3.67)	($5.92)	$15.77	$10.22	$3.98	$1.71
Weighted Average Basic Shares Outstanding	146.09M	156.67M	174.79M	173.22M	170.05M	262.47M	260.93M	226.60M	223.73M	225.22M
Diluted Earnings per Share	($11.24)	($2.81)	$2.19	$6.25	($3.67)	($5.92)	$14.88	$9.16	$3.56	$1.57
Weighted Average Diluted Shares Outstanding	146.09M	156.67M	174.79M	173.22M	170.05M	262.47M	260.93M	226.60M	223.73M	225.22M
Weighted Average Basic & Diluted Shares Outstanding	146.09M	156.67M	174.79M	173.22M	170.05M	262.47M	260.93M	226.60M	223.73M	225.22M
Cash Dividends to Common per Share	$0.20	$0.20	$0.20	$0.20	$0.20	$0.04	$0.08	$0.20	$0.20	$0.20

This table shows United States Steel's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	490	174	199	477	299	-80	171	183	119	-89	-116
Consolidated Net Income / (Loss)	490	174	199	477	299	-80	171	183	119	-89	-116
Net Income / (Loss) Continuing Operations	490	174	199	477	299	-80	171	183	119	-89	-116
Total Pre-Tax Income	644	225	250	621	341	-165	209	239	109	-119	-147
Total Operating Income	614	174	189	564	277	-231	154	181	48	-143	-122
Total Gross Profit	844	404	517	847	593	293	495	489	405	191	234
Total Revenue	5,203	4,338	4,470	5,008	4,431	4,144	4,160	4,118	3,853	3,509	3,727
Operating Revenue	5,203	4,338	4,470	5,008	4,431	4,144	4,160	4,118	3,853	3,509	3,727
Total Cost of Revenue	4,359	3,934	3,953	4,161	3,838	3,851	3,665	3,629	3,448	3,318	3,493
Operating Cost of Revenue	4,359	3,934	3,953	4,161	3,838	3,851	3,665	3,629	3,448	3,318	3,493
Total Operating Expenses	230	230	306	275	310	560	337	300	348	355	356
Selling, General & Admin Expense	95	98	99	103	118	181	119	105	104	107	120
Depreciation Expense	198	197	221	224	230	241	210	217	235	251	249
Other Operating Expenses / (Income)	-86	-64	-10	-8.00	1.00	-114	-1.00	-26	13	-21	-13
Impairment Charge	0.00	6.00	4.00	0.00	0.00	125	7.00	12	0.00	-	0.00
Restructuring Charge	23	-9.00	1.00	2.00	18	15	6.00	0.00	5.00	-3.00	0.00
Total Other Income / (Expense), net	30	51	39	49	58	102	51	50	52	45	-25
Interest Expense	38	32	27	20	16	9.00	3.00	3.00	5.00	15	45
Interest & Investment Income	15	270	30	34	39	235	32	25	23	173	21
Other Income / (Expense), net	53	-187	36	35	35	-124	22	28	34	-113	-1.00
Income Tax Expense	154	51	51	144	42	-85	38	56	-10	-30	-31
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Basic Earnings per Share	$2.07	$0.98	$0.87	$2.12	$1.34	($0.35)	$0.76	$0.82	$0.53	($0.40)	($0.52)
Weighted Average Basic Shares Outstanding	234.27M	226.60M	226.46M	222.96M	223.04M	223.73M	224.85M	224.96M	225.17M	225.22M	226.42M
Diluted Earnings per Share	$1.85	$0.87	$0.78	$1.89	$1.20	($0.31)	$0.68	$0.72	$0.48	($0.31)	($0.52)
Weighted Average Diluted Shares Outstanding	234.27M	226.60M	226.46M	222.96M	223.04M	223.73M	224.85M	224.96M	225.17M	225.22M	226.42M
Weighted Average Basic & Diluted Shares Outstanding	234.27M	226.60M	226.46M	222.96M	223.04M	223.73M	224.85M	224.96M	225.17M	225.22M	226.42M
Cash Dividends to Common per Share	$0.05	-	$0.05	$0.05	$0.05	-	$0.05	$0.05	$0.05	-	$0.05

This table details how cash moves in and out of United States Steel's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-599	763	42	-557	-101	1,156	482	939	-551	-1,575
Net Cash From Operating Activities	360	754	826	938	682	138	4,090	3,505	2,100	919
Net Cash From Continuing Operating Activities	360	754	826	938	682	138	4,090	3,505	2,100	919
Net Income / (Loss) Continuing Operations	-1,642	-440	387	1,115	-630	-1,165	4,174	2,524	895	384
Consolidated Net Income / (Loss)	-1,642	-440	387	1,115	-630	-1,165	4,174	2,524	895	384
Depreciation Expense	547	507	501	521	616	643	791	791	916	913
Non-Cash Adjustments To Reconcile Net Income	755	12	-42	84	301	317	-84	-235	33	-47
Changes in Operating Assets and Liabilities, net	700	675	-20	-782	395	343	-791	425	256	-331
Net Cash From Investing Activities	-510	-315	-386	-963	-1,958	-563	-840	-1,679	-2,568	-2,276
Net Cash From Continuing Investing Activities	-510	-315	-386	-963	-1,958	-563	-840	-1,679	-2,568	-2,276
Purchase of Property, Plant & Equipment	-500	-306	-505	-1,001	-1,252	-725	-863	-1,769	-2,576	-2,287
Sale of Property, Plant & Equipment	4.00	12	5.00	10	4.00	167	26	32	8.00	5.00
Divestitures	0.00	0.00	116	30	0.00	8.00	627	12	0.00	0.00
Other Investing Activities, net	13	-	0.00	-	0.00	-4.00	-5.00	46	0.00	6.00
Net Cash From Financing Activities	-408	332	-415	-515	1,177	1,581	-2,747	-868	-98	-199
Net Cash From Continuing Financing Activities	-408	332	-415	-515	1,177	1,581	-2,747	-868	-98	-199
Repayment of Debt	-379	-1,093	-1,127	-1,299	563	-1,713	-4,301	-444	-164	-199
Repurchase of Common Equity	-	0.00	0.00	-75	-88	0.00	-150	-849	-175	0.00
Issuance of Debt	-	958	737	868	702	2,790	914	343	241	0.00
Other Financing Activities, net	0.00	16	10	27	-	0.00	-	82	0.00	0.00
Effect of Exchange Rate Changes	-41	-8.00	17	-17	-2.00	-	-	-19	15	-19

This table details how cash moves in and out of United States Steel's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	407	6.00	-666	244	145	-274	-726	-179	-272	-398	-775
Net Cash From Operating Activities	1,074	755	181	713	817	389	-28	474	265	208	-374
Net Cash From Continuing Operating Activities	1,074	755	184	703	824	389	-28	474	265	208	-374
Net Income / (Loss) Continuing Operations	490	174	199	477	299	-80	171	183	119	-89	-116
Consolidated Net Income / (Loss)	490	174	199	477	299	-80	171	183	119	-89	-116
Depreciation Expense	198	197	221	224	230	241	210	217	235	251	249
Non-Cash Adjustments To Reconcile Net Income	-114	-94	13	19	-188	189	-2.00	-41	-40	36	7.00
Changes in Operating Assets and Liabilities, net	500	478	-249	-17	483	39	-407	115	-49	10	-514
Net Cash From Investing Activities	-463	-614	-738	-612	-585	-633	-645	-630	-509	-492	-358
Net Cash From Continuing Investing Activities	-463	-614	-738	-612	-585	-633	-645	-630	-509	-492	-358
Purchase of Property, Plant & Equipment	-478	-631	-740	-613	-586	-637	-640	-631	-511	-505	-359
Sale of Property, Plant & Equipment	16	4.00	2.00	1.00	1.00	4.00	0.00	1.00	2.00	2.00	1.00
Other Investing Activities, net	-1.00	1.00	0.00	-	-	-	-5.00	-	-	11	0.00
Net Cash From Financing Activities	-204	-116	-117	143	-79	-45	-46	-30	-28	-95	-50
Net Cash From Continuing Financing Activities	-204	-116	-117	143	-79	-45	-46	-30	-28	-95	-50
Repayment of Debt	-314	-18	-42	-20	-57	-45	-46	-30	-28	-95	-50
Effect of Exchange Rate Changes	-	-	8.00	-	-	-	-7.00	-	-	-	7.00

This table presents United States Steel's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	9,167	9,160	9,862	10,982	11,608	12,059	17,816	19,458	20,451	20,235
Total Current Assets	3,917	4,356	4,755	4,830	3,813	4,432	7,152	7,866	6,943	5,232
Cash & Equivalents	755	1,515	1,553	1,000	749	1,985	2,522	3,504	2,948	1,367
Accounts Receivable	1,063	1,248	1,379	1,659	1,177	994	2,089	1,635	1,548	1,398
Inventories, net	2,074	1,573	1,738	2,092	1,785	1,402	2,210	2,359	2,128	2,168
Other Current Assets	25	20	85	79	102	51	331	368	319	299
Plant, Property, & Equipment, net	4,411	3,979	4,280	4,865	5,447	5,444	7,254	8,492	10,393	11,973
Total Noncurrent Assets	839	825	827	1,287	2,348	2,183	3,410	3,100	3,115	3,030
Long-Term Investments	540	528	480	513	1,466	1,177	694	840	761	757
Goodwill	-	-	-	-	-	4.00	920	920	920	920
Intangible Assets	196	175	167	158	150	129	519	478	436	416
Noncurrent Deferred & Refundable Income Taxes	15	6.00	56	445	19	22	32	10	19	0.00
Other Noncurrent Operating Assets	88	116	124	171	713	851	1,245	852	979	937
Total Liabilities & Shareholders' Equity	9,167	9,160	9,862	10,982	11,608	12,059	17,816	19,458	20,451	20,235
Total Liabilities	6,730	6,885	6,541	6,779	7,515	8,180	8,713	9,147	9,311	8,795
Total Current Liabilities	2,148	2,331	2,773	3,197	2,625	2,656	3,852	3,959	3,948	3,373
Short-Term Debt	45	50	3.00	65	14	192	28	63	142	95
Accounts Payable	1,493	1,668	2,222	2,535	2,054	1,884	2,908	3,016	3,028	2,747
Current Deferred & Payable Income Tax Liabilities	99	128	132	118	116	154	365	271	222	131
Current Employee Benefit Liabilities	462	400	347	440	336	308	425	493	442	295
Other Current Liabilities	-	-	-	0.00	60	59	58	49	44	35
Other Current Nonoperating Liabilities	49	85	69	39	45	59	68	67	70	70
Total Noncurrent Liabilities	4,582	4,554	3,768	3,582	4,890	5,524	4,861	5,188	5,363	5,422
Long-Term Debt	3,093	2,981	2,700	2,316	3,627	4,695	3,863	3,914	4,080	4,078
Capital Lease Obligations	-	-	-	0.00	-	163	136	105	73	44
Noncurrent Deferred & Payable Income Tax Liabilities	29	28	6.00	14	4.00	11	122	456	587	657
Noncurrent Employee Benefit Liabilities	1,101	1,216	759	980	532	322	235	209	126	117
Other Noncurrent Operating Liabilities	359	329	303	272	727	333	505	504	497	526
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,437	2,275	3,321	4,203	4,093	3,879	9,103	10,311	11,140	11,440
Total Preferred & Common Equity	2,436	2,274	3,320	4,202	4,092	3,786	9,010	10,218	11,047	11,347
Total Common Equity	2,436	2,274	3,320	4,202	4,092	3,786	9,010	10,218	11,047	11,347
Common Stock	3,754	4,203	4,108	4,094	4,199	4,631	5,479	5,477	5,539	5,595
Retained Earnings	190	-250	133	1,212	544	-623	3,534	6,030	6,880	7,219
Treasury Stock	-339	-182	-76	-78	-173	-175	-334	-1,204	-1,418	-1,446
Accumulated Other Comprehensive Income / (Loss)	-1,169	-1,497	-845	-1,026	-478	-47	331	-85	46	-21
Noncontrolling Interest	1.00	1.00	1.00	1.00	1.00	93	93	93	93	93

This table presents United States Steel's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	19,958	19,540	20,309	20,395	20,448	20,416	20,633	20,083
Total Current Assets	8,452	7,548	7,835	7,395	6,421	5,950	5,766	4,936
Cash & Equivalents	3,364	2,837	3,080	3,222	2,221	2,031	1,773	594
Accounts Receivable	2,035	1,808	1,864	1,541	1,722	1,678	1,649	1,647
Inventories, net	2,759	2,541	2,540	2,304	2,157	2,020	2,039	2,372
Other Current Assets	294	362	351	328	321	221	305	323
Plant, Property, & Equipment, net	7,978	8,875	9,436	9,911	10,807	11,222	11,665	12,113
Plant, Property & Equipment, gross	20,437	21,806	22,465	23,097	24,557	25,148	25,856	26,649
Accumulated Depreciation	12,459	12,931	13,029	13,186	13,750	13,926	14,191	14,536
Total Noncurrent Assets	3,528	3,117	3,038	3,089	3,220	3,244	3,202	3,034
Long-Term Investments	832	830	832	863	785	809	830	762
Goodwill	920	920	920	920	920	920	920	920
Intangible Assets	488	467	457	447	431	426	421	411
Other Noncurrent Operating Assets	1,288	893	829	859	1,072	1,085	1,027	941
Total Liabilities & Shareholders' Equity	19,958	19,540	20,309	20,395	20,448	20,416	20,633	20,083
Total Liabilities	9,428	9,145	9,491	9,298	9,156	8,930	8,962	8,752
Total Current Liabilities	4,162	4,015	4,072	3,801	3,748	3,456	3,452	3,399
Short-Term Debt	59	91	98	98	159	162	163	109
Accounts Payable	3,280	3,175	3,112	2,939	2,948	2,680	2,745	2,800
Current Deferred & Payable Income Tax Liabilities	245	267	287	169	223	172	130	129
Current Employee Benefit Liabilities	482	388	457	498	322	333	321	272
Other Current Liabilities	51	48	48	45	41	40	38	33
Other Current Nonoperating Liabilities	45	46	70	52	55	69	55	56
Total Noncurrent Liabilities	5,266	5,130	5,419	5,497	5,408	5,474	5,510	5,353
Long-Term Debt	3,863	3,901	4,153	4,129	4,082	4,078	4,068	4,047
Capital Lease Obligations	112	95	90	79	65	58	51	41
Noncurrent Deferred & Payable Income Tax Liabilities	588	479	576	712	629	679	732	635
Noncurrent Employee Benefit Liabilities	204	146	139	138	116	117	124	97
Other Noncurrent Operating Liabilities	499	509	461	439	516	542	535	533
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	10,530	10,395	10,818	11,097	11,292	11,486	11,671	11,331
Total Preferred & Common Equity	10,437	10,302	10,725	11,004	11,199	11,393	11,578	11,238
Total Common Equity	10,437	10,302	10,725	11,004	11,199	11,393	11,578	11,238
Common Stock	5,461	5,490	5,503	5,520	5,554	5,569	5,579	5,613
Retained Earnings	5,867	6,217	6,683	6,971	7,040	7,211	7,319	7,091
Treasury Stock	-1,054	-1,301	-1,376	-1,402	-1,441	-1,442	-1,447	-1,469
Accumulated Other Comprehensive Income / (Loss)	163	-104	-85	-85	46	55	127	3.00
Noncontrolling Interest	93	93	93	93	93	93	93	93

This table displays calculated financial ratios and metrics derived from United States Steel's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-33.89%	-89.49%	907.40%	15.74%	-8.75%	-24.70%	108.14%	3.90%	-14.30%	-13.37%
EBITDA Growth	-165.26%	150.83%	215.09%	47.98%	-75.89%	-209.47%	1,478.85%	-31.68%	-56.70%	-33.77%
EBIT Growth	-409.18%	86.06%	433.73%	87.06%	-122.37%	-348.73%	566.95%	-36.74%	-75.03%	-72.98%
NOPAT Growth	-439.55%	83.28%	711.33%	79.44%	-110.43%	-367.39%	731.55%	-48.50%	-72.09%	-69.19%
Net Income Growth	-1,709.80%	73.20%	187.95%	188.11%	-156.50%	-84.92%	458.28%	-39.53%	-64.54%	-57.10%
EPS Growth	-1,728.99%	75.00%	177.94%	185.39%	-158.72%	-61.31%	351.35%	-38.44%	-61.14%	-55.90%
Operating Cash Flow Growth	-76.82%	109.44%	9.55%	13.56%	-27.29%	-79.77%	2,863.77%	-14.30%	-40.09%	-56.24%
Free Cash Flow Firm Growth	-74.44%	238.01%	-82.37%	233.07%	-224.64%	-64.96%	158.79%	287.86%	-143.10%	-60.14%
Invested Capital Growth	-20.11%	-22.66%	21.27%	25.86%	8.88%	4.71%	71.34%	1.34%	16.61%	15.32%
Revenue Q/Q Growth	-11.47%	-88.06%	350.04%	4.10%	-6.28%	-2.62%	17.78%	-5.75%	-1.06%	-3.90%
EBITDA Q/Q Growth	-450.00%	692.98%	22.13%	12.25%	-60.87%	43.94%	24.18%	-22.01%	-24.27%	-3.85%
EBIT Q/Q Growth	-231.15%	70.35%	51.21%	17.88%	-162.11%	23.54%	27.78%	-26.00%	-42.95%	-20.68%
NOPAT Q/Q Growth	-241.48%	63.72%	113.06%	46.30%	-113.81%	28.05%	28.73%	-29.84%	-29.05%	38.08%
Net Income Q/Q Growth	-601.71%	70.03%	214.63%	63.49%	-200.00%	38.10%	32.34%	-26.18%	-22.11%	-2.29%
EPS Q/Q Growth	-602.50%	72.10%	177.22%	63.19%	-203.67%	44.15%	27.73%	-25.65%	-24.89%	0.00%
Operating Cash Flow Q/Q Growth	-35.60%	9.75%	14.72%	-6.39%	11.44%	0.73%	41.42%	-17.24%	-14.84%	-16.45%
Free Cash Flow Firm Q/Q Growth	-38.86%	-1.51%	-74.27%	1,545.53%	-358.98%	-68.58%	209.81%	-17.27%	-17,599.49%	15.19%
Invested Capital Q/Q Growth	-13.73%	-11.36%	12.62%	10.37%	-6.17%	6.20%	2.68%	-2.85%	3.75%	1.48%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	3.74%	-690.13%	11.36%	13.21%	6.61%	1.91%	28.32%	20.36%	12.46%	10.10%
EBITDA Margin	-5.75%	27.80%	8.69%	11.12%	2.94%	-4.27%	28.29%	18.60%	9.40%	7.19%
Operating Margin	-10.39%	-16.53%	5.46%	7.93%	-1.78%	-11.04%	24.39%	15.00%	4.43%	1.53%
EBIT Margin	-10.47%	-13.90%	4.60%	7.44%	-1.82%	-10.87%	24.39%	14.85%	4.33%	1.35%
Profit (Net Income) Margin	-14.19%	-36.18%	3.16%	7.86%	-4.87%	-11.96%	20.59%	11.98%	4.96%	2.46%
Tax Burden Percent	112.54%	105.77%	128.57%	137.32%	139.38%	89.14%	96.09%	77.45%	85.48%	87.67%
Interest Burden Percent	120.38%	246.15%	53.37%	76.97%	191.53%	123.42%	87.85%	104.19%	134.06%	207.58%
Effective Tax Rate	0.00%	0.00%	-28.57%	-37.32%	0.00%	0.00%	3.91%	22.55%	14.52%	12.33%
Return on Invested Capital (ROIC)	-17.26%	-3.67%	23.22%	33.66%	-3.02%	-13.21%	60.13%	24.35%	6.23%	1.66%
ROIC Less NNEP Spread (ROIC-NNEP)	-62.87%	-23.85%	-29.00%	-18.39%	-42.46%	-37.35%	19.19%	46.77%	98.21%	13.97%
Return on Net Nonoperating Assets (RNNOA)	-35.39%	-15.01%	-9.39%	-4.02%	-12.17%	-16.01%	4.18%	1.65%	2.11%	1.74%
Return on Equity (ROE)	-52.65%	-18.68%	13.83%	29.64%	-15.19%	-29.23%	64.30%	26.00%	8.34%	3.40%
Cash Return on Invested Capital (CROIC)	5.10%	21.89%	4.00%	10.76%	-11.52%	-17.81%	7.55%	23.02%	-9.10%	-12.57%
Operating Return on Assets (OROA)	-11.44%	-1.84%	5.93%	10.12%	-2.09%	-8.95%	33.10%	16.78%	3.91%	1.04%
Return on Assets (ROA)	-15.51%	-4.80%	4.07%	10.70%	-5.58%	-9.84%	27.94%	13.54%	4.49%	1.89%
Return on Common Equity (ROCE)	-52.64%	-18.67%	13.83%	29.63%	-15.18%	-28.88%	63.38%	25.75%	8.27%	3.37%
Return on Equity Simple (ROE_SIMPLE)	-67.41%	-19.35%	11.66%	26.54%	-15.40%	-30.77%	46.33%	24.70%	8.10%	3.38%
Net Operating Profit after Tax (NOPAT)	-841	-141	860	1,543	-161	-753	4,752	2,447	683	210
NOPAT Margin	-7.27%	-11.57%	7.02%	10.89%	-1.24%	-7.73%	23.44%	11.62%	3.78%	1.35%
Net Nonoperating Expense Percent (NNEP)	45.61%	20.19%	52.22%	52.06%	39.44%	24.14%	40.94%	-22.42%	-91.97%	-12.32%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	17.00%	4.43%	1.34%
Cost of Revenue to Revenue	96.26%	790.13%	88.64%	86.79%	93.39%	98.09%	71.68%	79.64%	87.54%	89.90%
SG&A Expenses to Revenue	3.59%	25.16%	2.61%	2.37%	2.23%	2.84%	2.10%	2.00%	2.78%	2.78%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.13%	-673.60%	5.90%	5.28%	9.09%	12.95%	3.93%	5.35%	8.04%	8.57%
Earnings before Interest and Taxes (EBIT)	-1,212	-169	564	1,055	-236	-1,059	4,945	3,128	781	211
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-665	338	1,065	1,576	380	-416	5,736	3,919	1,697	1,124
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.45	2.37	1.77	0.74	0.46	0.95	0.70	0.57	0.98	0.67
Price to Tangible Book Value (P/TBV)	0.49	2.57	1.86	0.77	0.48	0.99	0.83	0.66	1.11	0.76
Price to Revenue (P/Rev)	0.09	4.43	0.48	0.22	0.15	0.37	0.31	0.28	0.60	0.49
Price to Earnings (P/E)	0.00	0.00	15.17	2.78	0.00	0.00	1.51	2.30	12.07	19.93
Dividend Yield	2.68%	0.64%	0.60%	1.14%	1.80%	0.24%	0.34%	0.81%	0.41%	0.59%
Earnings Yield	0.00%	0.00%	6.59%	35.94%	0.00%	0.00%	66.19%	43.55%	8.29%	5.02%
Enterprise Value to Invested Capital (EV/IC)	0.68	1.90	1.61	0.78	0.60	0.96	0.72	0.56	0.97	0.72
Enterprise Value to Revenue (EV/Rev)	0.25	5.24	0.53	0.28	0.26	0.57	0.36	0.27	0.64	0.63
Enterprise Value to EBITDA (EV/EBITDA)	0.00	18.86	6.14	2.52	8.72	0.00	1.26	1.44	6.76	8.75
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	11.60	3.76	0.00	0.00	1.46	1.80	14.70	46.63
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	7.61	2.57	0.00	0.00	1.52	2.30	16.81	46.76
Enterprise Value to Operating Cash Flow (EV/OCF)	8.15	8.46	7.92	4.23	4.86	40.52	1.76	1.61	5.47	10.71
Enterprise Value to Free Cash Flow (EV/FCFF)	11.80	7.59	44.17	8.05	0.00	0.00	12.09	2.43	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.29	1.33	0.81	0.57	0.89	1.30	0.44	0.40	0.39	0.37
Long-Term Debt to Equity	1.27	1.31	0.81	0.55	0.89	1.25	0.44	0.39	0.37	0.36
Financial Leverage	0.56	0.63	0.32	0.22	0.29	0.43	0.22	0.04	0.02	0.12
Leverage Ratio	3.40	3.89	3.40	2.77	2.72	2.97	2.30	1.92	1.86	1.80
Compound Leverage Factor	4.09	9.57	1.81	2.13	5.22	3.66	2.02	2.00	2.49	3.74
Debt to Total Capital	56.29%	57.12%	44.87%	36.16%	47.08%	56.56%	30.67%	28.36%	27.83%	26.93%
Short-Term Debt to Total Capital	0.81%	0.94%	0.05%	0.99%	0.18%	2.15%	0.21%	0.44%	0.92%	0.61%
Long-Term Debt to Total Capital	55.48%	56.18%	44.82%	35.18%	46.90%	54.41%	30.46%	27.92%	26.91%	26.33%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.02%	0.02%	0.02%	0.02%	0.01%	1.04%	0.71%	0.65%	0.60%	0.59%
Common Equity to Total Capital	43.70%	42.86%	55.11%	63.82%	52.91%	42.40%	68.62%	70.99%	71.57%	72.47%
Debt to EBITDA	-4.72	8.97	2.54	1.51	9.58	-12.14	0.70	1.04	2.53	3.75
Net Debt to EBITDA	-2.77	2.92	0.63	0.55	3.75	-4.54	0.14	-0.07	0.35	1.86
Long-Term Debt to EBITDA	-4.65	8.82	2.54	1.47	9.54	-11.68	0.70	1.03	2.45	3.67
Debt to NOPAT	-3.73	-21.54	3.14	1.54	-22.61	-6.71	0.85	1.67	6.29	20.04
Net Debt to NOPAT	-2.19	-7.02	0.78	0.56	-8.86	-2.51	0.17	-0.11	0.86	9.95
Long-Term Debt to NOPAT	-3.68	-21.19	3.14	1.50	-22.53	-6.46	0.84	1.64	6.08	19.59
Altman Z-Score	1.18	0.77	2.23	2.22	1.39	0.89	2.99	2.67	2.35	1.94
Noncontrolling Interest Sharing Ratio	0.03%	0.04%	0.04%	0.03%	0.02%	1.18%	1.43%	0.96%	0.87%	0.82%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.82	1.87	1.71	1.51	1.45	1.67	1.86	1.99	1.76	1.55
Quick Ratio	0.85	1.19	1.06	0.83	0.73	1.12	1.20	1.30	1.14	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	249	840	148	493	-615	-1,015	596	2,313	-997	-1,597
Operating Cash Flow to CapEx	72.58%	256.46%	165.20%	94.65%	54.65%	24.73%	488.65%	201.78%	81.78%	40.27%
Free Cash Flow to Firm to Interest Expense	0.99	3.33	0.53	1.86	-4.33	-3.62	0.99	14.55	-13.85	-61.41
Operating Cash Flow to Interest Expense	1.44	2.99	2.95	3.53	4.80	0.49	6.76	22.04	29.17	35.35
Operating Cash Flow Less CapEx to Interest Expense	-0.54	1.83	1.16	-0.20	-3.99	-1.50	5.38	11.12	-6.50	-52.42
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.09	0.13	1.29	1.36	1.15	0.82	1.36	1.13	0.90	0.77
Accounts Receivable Turnover	7.70	1.05	9.33	9.33	9.12	8.97	13.15	11.31	11.34	10.62
Inventory Turnover	4.88	5.27	6.56	6.43	6.23	6.00	8.05	7.34	7.04	6.55
Fixed Asset Turnover	2.58	0.29	2.97	3.10	2.51	1.79	3.19	2.68	1.91	1.40
Accounts Payable Turnover	6.38	6.08	5.58	5.17	5.27	4.85	6.07	5.66	5.23	4.87
Days Sales Outstanding (DSO)	47.38	346.84	39.14	39.11	40.01	40.67	27.75	32.26	32.18	34.38
Days Inventory Outstanding (DIO)	74.86	69.27	55.65	56.80	58.56	60.87	45.36	49.70	51.82	55.76
Days Payable Outstanding (DPO)	57.25	60.04	65.38	70.55	69.32	75.22	60.18	64.44	69.80	74.96
Cash Conversion Cycle (CCC)	64.99	356.07	29.41	25.36	29.25	26.33	12.93	17.52	14.20	15.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,329	3,348	4,060	5,110	5,564	5,826	9,982	10,116	11,796	13,603
Invested Capital Turnover	2.37	0.32	3.31	3.09	2.42	1.71	2.57	2.10	1.65	1.23
Increase / (Decrease) in Invested Capital	-1,090	-981	712	1,050	454	262	4,156	134	1,680	1,807
Enterprise Value (EV)	2,934	6,376	6,543	3,971	3,313	5,591	7,210	5,627	11,478	9,840
Market Capitalization	1,090	5,387	5,872	3,102	1,886	3,610	6,306	5,796	10,799	7,654
Book Value per Share	$16.65	$13.19	$18.97	$23.70	$24.07	$17.18	$33.34	$43.62	$49.53	$50.39
Tangible Book Value per Share	$15.31	$12.17	$18.02	$22.81	$23.18	$16.57	$28.02	$37.65	$43.45	$44.46
Total Capital	5,575	5,306	6,024	6,584	7,734	8,929	13,130	14,393	15,435	15,657
Total Debt	3,138	3,031	2,703	2,381	3,641	5,050	4,027	4,082	4,295	4,217
Total Long-Term Debt	3,093	2,981	2,700	2,316	3,627	4,858	3,999	4,019	4,153	4,122
Net Debt	1,843	988	670	868	1,426	1,888	811	-262	586	2,093
Capital Expenditures (CapEx)	496	294	500	991	1,248	558	837	1,737	2,568	2,282
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,059	560	432	698	453	-17	806	466	189	587
Debt-free Net Working Capital (DFNWC)	1,814	2,075	1,985	1,698	1,202	1,968	3,328	3,970	3,137	1,954
Net Working Capital (NWC)	1,769	2,025	1,982	1,633	1,188	1,776	3,300	3,907	2,995	1,859
Net Nonoperating Expense (NNE)	801	299	473	428	469	413	578	-77	-212	-174
Net Nonoperating Obligations (NNO)	1,892	1,073	739	907	1,471	1,947	879	-195	656	2,163
Total Depreciation and Amortization (D&A)	547	507	501	521	616	643	791	791	916	913
Debt-free, Cash-free Net Working Capital to Revenue	9.15%	46.05%	3.53%	4.92%	3.50%	-0.17%	3.98%	2.21%	1.05%	3.75%
Debt-free Net Working Capital to Revenue	15.67%	170.64%	16.20%	11.98%	9.29%	20.20%	16.41%	18.85%	17.38%	12.49%
Net Working Capital to Revenue	15.28%	166.53%	16.18%	11.52%	9.18%	18.23%	16.28%	18.55%	16.59%	11.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($11.24)	($2.81)	$2.21	$6.31	($3.67)	($5.92)	$15.77	$10.22	$3.98	$1.71
Adjusted Weighted Average Basic Shares Outstanding	146.28M	174.29M	175.88M	173.22M	170.05M	262.47M	260.93M	226.60M	223.73M	225.22M
Adjusted Diluted Earnings per Share	($11.24)	($2.81)	$2.19	$6.25	($3.67)	($5.92)	$14.88	$9.16	$3.56	$1.57
Adjusted Weighted Average Diluted Shares Outstanding	146.28M	174.29M	175.88M	173.22M	170.05M	262.47M	260.93M	226.60M	223.73M	225.22M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	146.28M	174.29M	175.88M	173.22M	170.05M	262.47M	260.93M	226.60M	223.73M	225.22M
Normalized Net Operating Profit after Tax (NOPAT)	-370	-111	404	783	31	-576	4,382	2,611	824	234
Normalized NOPAT Margin	-3.19%	-9.10%	3.30%	5.52%	0.24%	-5.91%	21.61%	12.39%	4.56%	1.50%
Pre Tax Income Margin	-12.61%	-34.21%	2.46%	5.73%	-3.49%	-13.42%	21.43%	15.47%	5.80%	2.80%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-4.85	-0.67	2.01	3.97	-1.66	-3.78	8.17	19.67	10.85	8.12
NOPAT to Interest Expense	-3.37	-0.56	3.07	5.80	-1.13	-2.69	7.86	15.39	9.49	8.09
EBIT Less CapEx to Interest Expense	-6.83	-1.84	0.23	0.24	-10.45	-5.78	6.79	8.75	-24.82	-79.65
NOPAT Less CapEx to Interest Expense	-5.35	-1.73	1.29	2.08	-9.92	-4.68	6.47	4.47	-26.18	-79.68
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-1.77%	-7.05%	9.04%	3.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-1.77%	-7.05%	9.04%	9.96%	-13.97%	0.00%	3.59%	33.64%	19.55%	0.00%

This table displays calculated financial ratios and metrics derived from United States Steel's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-12.76%	-22.84%	-14.60%	-20.38%	-14.84%	-4.47%	-6.94%	-17.77%	-13.04%	-15.32%	-10.41%
EBITDA Growth	-66.18%	-85.74%	-67.56%	-44.95%	-37.34%	-161.96%	-13.45%	-48.24%	-41.51%	95.61%	-64.31%
EBIT Growth	-71.76%	-101.20%	-80.88%	-53.82%	-53.22%	-2,630.77%	-21.78%	-65.11%	-73.72%	27.89%	-186.01%
NOPAT Growth	-77.46%	-88.84%	-82.79%	-55.42%	-48.01%	-220.17%	-16.25%	-68.01%	-78.42%	38.10%	-167.78%
Net Income Growth	-75.52%	-83.72%	-77.44%	-51.23%	-38.98%	-145.98%	-14.07%	-61.64%	-60.20%	-11.25%	-167.84%
EPS Growth	-73.46%	-78.41%	-74.17%	-44.74%	-35.14%	-135.63%	-12.82%	-61.90%	-60.00%	0.00%	-176.47%
Operating Cash Flow Growth	-28.50%	-49.16%	-76.52%	-21.22%	-23.93%	-48.48%	-115.47%	-33.52%	-67.56%	-46.53%	-1,235.71%
Free Cash Flow Firm Growth	89.60%	100.02%	-124.82%	-1,536.43%	-217.63%	-328,975.00%	-359.13%	-421.25%	-177.63%	-3.55%	-0.39%
Invested Capital Growth	7.12%	1.34%	4.95%	6.92%	9.19%	16.61%	16.44%	14.99%	17.90%	15.32%	12.50%
Revenue Q/Q Growth	-17.28%	-16.63%	3.04%	12.04%	-11.52%	-6.48%	0.39%	-1.01%	-6.44%	-8.93%	6.21%
EBITDA Q/Q Growth	-42.14%	-78.73%	3.72%	84.53%	-34.14%	-121.03%	865.00%	10.36%	-25.59%	-101.58%	2,620.00%
EBIT Q/Q Growth	-48.57%	-101.95%	-3.43%	166.22%	-47.91%	-213.78%	187.56%	18.75%	-60.77%	-412.20%	51.95%
NOPAT Q/Q Growth	-51.93%	-71.20%	11.80%	187.96%	-43.94%	-166.58%	177.92%	9.99%	-62.19%	-291.02%	14.69%
Net Income Q/Q Growth	-49.90%	-64.49%	14.37%	139.70%	-37.32%	-126.76%	313.75%	7.02%	-34.97%	-174.79%	-30.34%
EPS Q/Q Growth	-45.91%	-52.97%	-10.34%	142.31%	-36.51%	-125.83%	319.35%	5.88%	-33.33%	-164.58%	-67.74%
Operating Cash Flow Q/Q Growth	18.67%	-29.70%	-76.03%	293.92%	14.59%	-52.39%	-107.20%	1,792.86%	-44.09%	-21.51%	-279.81%
Free Cash Flow Firm Q/Q Growth	-1,180.88%	100.25%	-64,663.57%	17.36%	-139.01%	-157.90%	9.87%	6.18%	-27.30%	3.81%	12.62%
Invested Capital Q/Q Growth	-1.62%	-2.85%	7.36%	4.20%	0.47%	3.75%	7.21%	2.89%	3.01%	1.48%	4.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.22%	9.31%	11.57%	16.91%	13.38%	7.07%	11.90%	11.87%	10.51%	5.44%	6.28%
EBITDA Margin	16.63%	4.24%	9.98%	16.43%	12.23%	-2.75%	9.28%	10.34%	8.23%	-0.14%	3.38%
Operating Margin	11.80%	4.01%	4.23%	11.26%	6.25%	-5.57%	3.70%	4.40%	1.25%	-4.08%	-3.27%
EBIT Margin	12.82%	-0.30%	5.03%	11.96%	7.04%	-8.57%	4.23%	5.08%	2.13%	-7.30%	-3.30%
Profit (Net Income) Margin	9.42%	4.01%	4.45%	9.52%	6.75%	-1.93%	4.11%	4.44%	3.09%	-2.54%	-3.11%
Tax Burden Percent	76.09%	77.33%	79.60%	76.81%	87.68%	48.48%	81.82%	76.57%	109.17%	74.79%	78.91%
Interest Burden Percent	96.55%	-1,730.77%	111.11%	103.67%	109.29%	46.48%	118.75%	114.35%	132.93%	46.48%	119.51%
Effective Tax Rate	23.91%	22.67%	20.40%	23.19%	12.32%	0.00%	18.18%	23.43%	-9.17%	0.00%	0.00%
Return on Invested Capital (ROIC)	19.93%	6.50%	6.44%	15.02%	9.18%	-6.43%	4.57%	4.66%	1.79%	-3.51%	-2.59%
ROIC Less NNEP Spread (ROIC-NNEP)	22.79%	18.03%	15.93%	26.07%	81.13%	29.02%	9.51%	9.05%	8.42%	-2.73%	-4.03%
Return on Net Nonoperating Assets (RNNOA)	1.96%	0.64%	0.81%	0.98%	0.59%	0.62%	0.80%	0.82%	0.74%	-0.34%	-0.76%
Return on Equity (ROE)	21.90%	7.14%	7.25%	16.00%	9.77%	-5.81%	5.37%	5.48%	2.53%	-3.85%	-3.35%
Cash Return on Invested Capital (CROIC)	27.78%	23.02%	11.44%	4.15%	0.05%	-9.10%	-9.59%	-11.07%	-15.20%	-12.57%	-12.08%
Operating Return on Assets (OROA)	15.37%	-0.34%	5.27%	11.33%	6.37%	-7.75%	3.75%	4.20%	1.69%	-5.61%	-2.48%
Return on Assets (ROA)	11.29%	4.53%	4.66%	9.02%	6.10%	-1.75%	3.65%	3.68%	2.45%	-1.95%	-2.34%
Return on Common Equity (ROCE)	21.68%	7.07%	7.18%	15.86%	9.68%	-5.76%	5.33%	5.44%	2.51%	-3.82%	-3.32%
Return on Equity Simple (ROE_SIMPLE)	32.76%	0.00%	17.87%	12.49%	10.44%	0.00%	7.74%	5.03%	3.39%	0.00%	0.86%
Net Operating Profit after Tax (NOPAT)	467	135	150	433	243	-162	126	139	52	-100	-85
NOPAT Margin	8.98%	3.10%	3.37%	8.65%	5.48%	-3.90%	3.03%	3.37%	1.36%	-2.85%	-2.29%
Net Nonoperating Expense Percent (NNEP)	-2.86%	-11.53%	-9.48%	-11.04%	-71.95%	-35.44%	-4.94%	-4.38%	-6.64%	-0.79%	1.44%
Return On Investment Capital (ROIC_SIMPLE)	-	0.93%	-	-	-	-1.05%	-	-	-	-0.64%	-0.55%
Cost of Revenue to Revenue	83.78%	90.69%	88.43%	83.09%	86.62%	92.93%	88.10%	88.13%	89.49%	94.56%	93.72%
SG&A Expenses to Revenue	1.83%	2.26%	2.21%	2.06%	2.66%	4.37%	2.86%	2.55%	2.70%	3.05%	3.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	4.42%	5.30%	6.85%	5.49%	7.00%	13.51%	8.10%	7.29%	9.03%	10.12%	9.55%
Earnings before Interest and Taxes (EBIT)	667	-13	225	599	312	-355	176	209	82	-256	-123
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	865	184	446	823	542	-114	386	426	317	-5.00	126
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.41	0.57	0.57	0.52	0.65	0.98	0.81	0.75	0.69	0.67	0.85
Price to Tangible Book Value (P/TBV)	0.47	0.66	0.66	0.60	0.75	1.11	0.92	0.84	0.78	0.76	0.96
Price to Revenue (P/Rev)	0.19	0.28	0.29	0.30	0.39	0.60	0.51	0.50	0.49	0.49	0.63
Price to Earnings (P/E)	1.24	2.30	3.18	4.20	6.27	12.07	10.46	14.82	20.22	19.93	98.12
Dividend Yield	1.12%	0.81%	0.77%	0.81%	0.62%	0.41%	0.49%	0.53%	0.57%	0.59%	0.47%
Earnings Yield	80.65%	43.55%	31.43%	23.83%	15.95%	8.29%	9.56%	6.75%	4.94%	5.02%	1.02%
Enterprise Value to Invested Capital (EV/IC)	0.40	0.56	0.59	0.54	0.66	0.97	0.83	0.77	0.73	0.72	0.88
Enterprise Value to Revenue (EV/Rev)	0.19	0.27	0.31	0.32	0.41	0.64	0.59	0.60	0.60	0.63	0.82
Enterprise Value to EBITDA (EV/EBITDA)	0.83	1.44	1.97	2.40	3.36	6.76	5.84	7.20	8.31	8.75	13.88
Enterprise Value to EBIT (EV/EBIT)	0.99	1.80	2.63	3.56	5.49	14.70	11.81	20.24	36.54	46.63	0.00
Enterprise Value to NOPAT (EV/NOPAT)	1.20	2.30	3.69	5.18	7.81	16.81	15.89	28.70	63.78	46.76	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.98	1.61	2.19	2.26	3.05	5.47	5.53	6.08	8.84	10.71	21.73
Enterprise Value to Free Cash Flow (EV/FCFF)	1.49	2.43	5.25	13.51	1,319.81	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.38	0.40	0.39	0.40	0.39	0.39	0.38	0.37	0.37	0.37	0.37
Long-Term Debt to Equity	0.38	0.39	0.38	0.39	0.38	0.37	0.37	0.36	0.35	0.36	0.36
Financial Leverage	0.09	0.04	0.05	0.04	0.01	0.02	0.08	0.09	0.09	0.12	0.19
Leverage Ratio	2.01	1.92	1.92	1.90	1.87	1.86	1.84	1.83	1.80	1.80	1.79
Compound Leverage Factor	1.94	-33.23	2.13	1.97	2.04	0.86	2.19	2.09	2.40	0.84	2.14
Debt to Total Capital	27.70%	28.36%	28.22%	28.64%	27.96%	27.83%	27.61%	27.23%	26.84%	26.93%	27.03%
Short-Term Debt to Total Capital	0.41%	0.44%	0.63%	0.65%	0.64%	0.92%	1.02%	1.03%	1.02%	0.61%	0.70%
Long-Term Debt to Total Capital	27.29%	27.92%	27.59%	27.99%	27.32%	26.91%	26.59%	26.20%	25.82%	26.33%	26.33%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.64%	0.65%	0.64%	0.61%	0.60%	0.60%	0.60%	0.59%	0.58%	0.59%	0.60%
Common Equity to Total Capital	71.66%	70.99%	71.14%	70.75%	71.44%	71.57%	71.80%	72.18%	72.58%	72.47%	72.37%
Debt to EBITDA	0.80	1.04	1.26	1.69	1.92	2.53	2.40	3.08	3.66	3.75	4.68
Net Debt to EBITDA	-0.03	-0.07	0.13	0.17	0.10	0.35	0.73	1.05	1.44	1.86	3.17
Long-Term Debt to EBITDA	0.79	1.03	1.23	1.65	1.88	2.45	2.32	2.97	3.52	3.67	4.56
Debt to NOPAT	1.16	1.67	2.37	3.66	4.47	6.29	6.54	12.28	28.10	20.04	-98.56
Net Debt to NOPAT	-0.05	-0.11	0.24	0.36	0.23	0.86	1.97	4.17	11.02	9.95	-66.71
Long-Term Debt to NOPAT	1.14	1.64	2.32	3.58	4.37	6.08	6.30	11.82	27.03	19.59	-96.00
Altman Z-Score	2.17	2.14	2.12	2.07	2.10	2.17	2.13	2.07	1.97	1.86	1.98
Noncontrolling Interest Sharing Ratio	1.00%	0.96%	0.92%	0.88%	0.86%	0.87%	0.86%	0.83%	0.82%	0.82%	0.82%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.03	1.99	1.88	1.92	1.95	1.76	1.71	1.72	1.67	1.55	1.45
Quick Ratio	1.30	1.30	1.16	1.21	1.25	1.14	1.05	1.07	0.99	0.82	0.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-225	0.56	-362	-299	-714	-1,842	-1,660	-1,557	-1,983	-1,907	-1,666
Operating Cash Flow to CapEx	232.47%	120.41%	24.53%	116.50%	139.66%	61.45%	-4.38%	75.24%	52.06%	41.35%	-104.47%
Free Cash Flow to Firm to Interest Expense	-5.92	0.02	-13.39	-14.94	-44.63	-204.63	-553.33	-519.14	-396.52	-127.14	-37.03
Operating Cash Flow to Interest Expense	28.26	23.59	6.70	35.65	51.06	43.22	-9.33	158.00	53.00	13.87	-8.31
Operating Cash Flow Less CapEx to Interest Expense	16.11	4.00	-20.63	5.05	14.50	-27.11	-222.67	-52.00	-48.80	-19.67	-16.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.20	1.13	1.05	0.95	0.90	0.90	0.89	0.83	0.79	0.77	0.75
Accounts Receivable Turnover	10.07	11.31	9.61	8.52	10.21	11.34	10.05	9.52	10.20	10.62	9.03
Inventory Turnover	6.91	7.34	6.50	5.91	6.28	7.04	6.60	6.57	6.72	6.55	6.13
Fixed Asset Turnover	2.91	2.68	2.49	2.25	2.04	1.91	1.80	1.63	1.51	1.40	1.33
Accounts Payable Turnover	5.33	5.66	5.19	5.05	5.11	5.23	5.07	5.17	5.13	4.87	4.83
Days Sales Outstanding (DSO)	36.24	32.26	37.96	42.85	35.77	32.18	36.31	38.36	35.77	34.38	40.43
Days Inventory Outstanding (DIO)	52.81	49.70	56.17	61.78	58.16	51.82	55.26	55.54	54.31	55.76	59.51
Days Payable Outstanding (DPO)	68.45	64.44	70.36	72.27	71.44	69.80	72.02	70.55	71.08	74.96	75.53
Cash Conversion Cycle (CCC)	20.60	17.52	23.78	32.37	22.49	14.20	19.55	23.35	19.00	15.18	24.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,413	10,116	10,861	11,317	11,370	11,796	12,647	13,013	13,405	13,603	14,228
Invested Capital Turnover	2.22	2.10	1.91	1.74	1.68	1.65	1.51	1.39	1.31	1.23	1.13
Increase / (Decrease) in Invested Capital	692	134	512	732	957	1,680	1,786	1,696	2,035	1,807	1,581
Enterprise Value (EV)	4,170	5,627	6,371	6,145	7,519	11,478	10,466	10,040	9,720	9,840	12,452
Market Capitalization	4,239	5,796	5,858	5,623	7,205	10,799	9,073	8,489	7,948	7,654	9,518
Book Value per Share	$44.00	$43.62	$45.46	$47.36	$49.35	$49.53	$49.81	$50.67	$51.47	$50.39	$49.90
Tangible Book Value per Share	$38.06	$37.65	$39.34	$41.28	$43.22	$43.45	$43.80	$44.68	$45.51	$44.46	$43.99
Total Capital	14,564	14,393	14,482	15,159	15,403	15,435	15,598	15,784	15,953	15,657	15,528
Total Debt	4,034	4,082	4,087	4,341	4,306	4,295	4,306	4,298	4,282	4,217	4,197
Total Long-Term Debt	3,975	4,019	3,996	4,243	4,208	4,153	4,147	4,136	4,119	4,122	4,088
Net Debt	-162	-262	420	429	221	586	1,300	1,458	1,679	2,093	2,841
Capital Expenditures (CapEx)	462	627	738	612	585	633	640	630	509	503	358
Debt-free, Cash-free Net Working Capital (DFCFNWC)	985	466	787	781	470	189	611	625	704	587	1,052
Debt-free Net Working Capital (DFNWC)	4,349	3,970	3,624	3,861	3,692	3,137	2,832	2,656	2,477	1,954	1,646
Net Working Capital (NWC)	4,290	3,907	3,533	3,763	3,594	2,995	2,673	2,494	2,314	1,859	1,537
Net Nonoperating Expense (NNE)	-23	-39	-49	-44	-56	-82	-45	-44	-67	-11	31
Net Nonoperating Obligations (NNO)	-117	-195	466	499	273	656	1,355	1,527	1,734	2,163	2,897
Total Depreciation and Amortization (D&A)	198	197	221	224	230	241	210	217	235	251	249
Debt-free, Cash-free Net Working Capital to Revenue	4.41%	2.21%	3.88%	4.11%	2.58%	1.05%	3.44%	3.71%	4.33%	3.75%	6.92%
Debt-free Net Working Capital to Revenue	19.46%	18.85%	17.85%	20.30%	20.23%	17.38%	15.96%	15.76%	15.22%	12.49%	10.82%
Net Working Capital to Revenue	19.20%	18.55%	17.40%	19.79%	19.70%	16.59%	15.07%	14.80%	14.22%	11.89%	10.11%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.07	$0.98	$0.87	$2.12	$1.34	($0.35)	$0.76	$0.82	$0.53	($0.40)	($0.52)
Adjusted Weighted Average Basic Shares Outstanding	234.27M	226.60M	226.46M	222.96M	223.04M	223.73M	224.85M	224.96M	225.17M	225.22M	226.42M
Adjusted Diluted Earnings per Share	$1.85	$0.87	$0.78	$1.89	$1.20	($0.31)	$0.68	$0.72	$0.48	($0.31)	($0.52)
Adjusted Weighted Average Diluted Shares Outstanding	234.27M	226.60M	226.46M	222.96M	223.04M	223.73M	224.85M	224.96M	225.17M	225.22M	226.42M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	234.27M	226.60M	226.46M	222.96M	223.04M	223.73M	224.85M	224.96M	225.17M	225.22M	226.42M
Normalized Net Operating Profit after Tax (NOPAT)	485	132	147	399	209	-64	133	142	31	-102	-85
Normalized NOPAT Margin	9.32%	3.05%	3.29%	7.98%	4.71%	-1.54%	3.21%	3.44%	0.80%	-2.91%	-2.29%
Pre Tax Income Margin	12.38%	5.19%	5.59%	12.40%	7.70%	-3.98%	5.02%	5.80%	2.83%	-3.39%	-3.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	17.55	-0.41	8.33	29.95	19.50	-39.44	58.67	69.67	16.40	-17.07	-2.73
NOPAT to Interest Expense	12.29	4.21	5.57	21.66	15.18	-17.97	42.00	46.20	10.48	-6.67	-1.90
EBIT Less CapEx to Interest Expense	5.39	-20.00	-19.00	-0.65	-17.06	-109.78	-154.67	-140.33	-85.40	-50.60	-10.69
NOPAT Less CapEx to Interest Expense	0.14	-15.39	-21.76	-8.94	-21.38	-88.30	-171.33	-163.80	-91.32	-40.21	-9.85
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	24.83%	33.64%	43.51%	35.60%	28.29%	19.55%	11.53%	4.36%	0.00%	0.00%	0.00%

Key Financial Trends

United States Steel (NYSE:X) reported mixed results for Q1 2025. On the positive side, revenues and EBITDA both rose sequentially and gross margins improved. However, the company remains unprofitable, with negative operating and free cash flows driven by high working-capital demands and capital spending. Total debt remains elevated and liquidity ratios are modest.

Revenue grew 6.2% quarter-over-quarter to $3.73 billion in Q1 2025, up from $3.51 billion in Q4 2024.
EBITDA increased 26.2% quarter-over-quarter to $126 million, compared with $100 million in Q4 2024.
Gross margin expanded to 6.28% in Q1 2025 from 5.44% in Q4 2024, reflecting better pricing or mix.
Current ratio of 1.45 and quick ratio of 0.66, indicating adequate but not ample short-term liquidity.
Net debt to EBITDA at 3.17x remains in line with peers but leverage has ticked up from 1.86x a year ago.
Valuation metrics show price/book at 0.85x and price/tangible book at 0.96x, while P/E is elevated due to recent losses.
Net loss widened to $116 million in Q1 2025, compared with a $89 million loss in Q4 2024.
Operating income was negative $122 million, similar to prior quarters of weakness in core operations.
Free cash flow to the firm was a negative $1.67 billion, reflecting heavy capital spending and working-capital build.
Operating cash flow was negative $374 million, driven by a $514 million drain on working capital.

06/30/25 01:47 AMAI Generated. May Contain Errors.

Frequently Asked Questions About United States Steel's Financials

When does United States Steel's financial year end?

According to the most recent income statement we have on file, United States Steel's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has United States Steel's net income changed over the last 9 years?

United States Steel's net income appears to be on an upward trend, with a most recent value of $384 million in 2024, falling from -$1.64 billion in 2015. The previous period was $895 million in 2023. Check out United States Steel's forecast to explore projected trends and price targets.

What is United States Steel's operating income?

United States Steel's total operating income in 2024 was $240 million, based on the following breakdown:

Total Gross Profit: $1.58 billion
Total Operating Expenses: $1.34 billion

How has United States Steel's revenue changed over the last 9 years?

Over the last 9 years, United States Steel's total revenue changed from $11.57 billion in 2015 to $15.64 billion in 2024, a change of 35.1%.

How much debt does United States Steel have?

United States Steel's total liabilities were at $8.80 billion at the end of 2024, a 5.5% decrease from 2023, and a 30.7% increase since 2015.

How much cash does United States Steel have?

In the past 9 years, United States Steel's cash and equivalents has ranged from $749 million in 2019 to $3.50 billion in 2022, and is currently $1.37 billion as of their latest financial filing in 2024.

How has United States Steel's book value per share changed over the last 9 years?

Over the last 9 years, United States Steel's book value per share changed from 16.65 in 2015 to 50.39 in 2024, a change of 202.6%.

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This page (NYSE:X) was last updated on 6/30/2025 by MarketBeat.com Staff

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