Direct Answer
Nucor reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Steel Mills is the largest, with $20.0 billion of revenue (62% of the total), followed by Steel Products at $10.3 billion (32%).
How Does Nucor Make Money?
Steel Mills supplies 62% of revenue, so Nucor's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Raw Materials grew fastest (+13.0%) and Steel Products slowest (+2.4%), so the revenue mix tilts toward Raw Materials while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Steel Mills | $20.0 billion | $18.7 billion | 61.6% | 6.8% |
| Steel Products | $10.3 billion | $10.1 billion | 31.8% | 2.4% |
| Raw Materials | $2.2 billion | $1.9 billion | 6.7% | 13.0% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Nucor's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Nucor reported in the segment note and revenue disclosures of its Form 10-K filed February 25, 2026 (accession 0001193125-26-071575), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Nucor's business segments?
In its fiscal 2025 Form 10-K, Nucor reports revenue for Steel Mills, Steel Products and Raw Materials.
Which part of Nucor brings in the most revenue?
Steel Mills, with $20.0 billion of revenue in fiscal 2025, or 62% of the total.
Where does Nucor report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 25, 2026, alongside management's discussion of each segment's results.