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Dec 31, 2025
Ternium Q4 2025 Earnings Report
Ternium reported lower fourth quarter 2025 results with sequentially stable EBITDA and net income supported by deferred tax gains, while maintaining a solid net cash position.
Key Takeaways
Ternium generated fourth quarter 2025 net sales of 3775000000 and net income of 171000000, with Adjusted EBITDA of 395000000 and strong operating cash flow of 528000000, while continuing heavy capital investment.
Q4 net sales were 3775000000, reflecting lower realized steel prices.
Adjusted EBITDA reached 395000000 with a 10.5% margin.
Net income was 171000000, including a 94000000 deferred tax gain.
Net cash position stood at 712000000 after 463000000 in capital expenditures.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Ternium expects Adjusted EBITDA and margins to improve sequentially in the first quarter of 2026, supported by higher shipments in Mexico and improved revenue per ton, partially offset by higher unit costs.
Positive Outlook
- Adjusted EBITDA expected to increase in Q1 2026.
- Shipments anticipated to rise, mainly in Mexico.
- Adjusted EBITDA margin projected to improve.
- Government trade measures supporting local steel markets.
- Improving demand in Argentina and commercial markets.
Challenges Ahead
- Higher costs per ton expected.
- Exposure to tariff negotiations with the United States.
- Uncertainty in automotive production and EV adjustments.
- Risk of unfairly traded imports impacting local markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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