Metallus

MTUS

Steel · Basic Materials

Price

$19.38

-0.04 (-0.21%)

Market Cap

$806.7M

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

−23.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 55.0M (2021) → 41.9M (2025)

Metallus Inc. is a specialty steel manufacturer based in Canton, Ohio. The company makes engineered steel bars and tubes used in demanding applications like vehicle drivetrains, industrial machinery, and energy equipment. Its customers are mostly manufacturers in the automotive, defense, and industrial sectors who need steel with precise performance characteristics.

Metallus earns revenue by selling specialty steel products directly to industrial customers, primarily across North America. The company operates one of the larger specialty bar quality steel mills in the United States, which gives it some scale advantage in a niche segment of the steel market. However, the financial data tells a cautious story — thin margins and a very low return on invested capital suggest the business is under pressure from high costs, weak demand, or pricing competition, and any meaningful recovery will likely depend on a rebound in automotive and industrial production volumes.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+333.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

13.3%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~6 months

$104M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Metallus has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

8.1%

Thin — 8.1% gross margin

Operating Margin

0.9%

Thin — 0.9% operating margin

ROCE

0.4%

Weak — 0.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+13.7%

Fast-growing sales (13.7% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

966%

Turns 966% of profit into real cash

FCF Margin

-6.6%

Burning cash (-6.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.02

Conservative — low debt load (0.02)

Interest Cover

3.95x

Tight — interest eats into profit (4.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

284.6x

Expensive — P/E 284.6

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+261.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (284.6 → 23.4)

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Dividends

Not applicable for this business.

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