Insteel Industries Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand, a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures. The company's WWR engineered reinforcing product is used in nonresidential and residential construction. It produces a range of WWR products, such as engineered structural mesh, an engineered made-to-order product that is used as the primary reinforcement for concrete elements or structures serving as a reinforcing solution for hot-rolled rebar; concrete pipe reinforcement, an engineered made-to-order product, which is used as the primary reinforcement in concrete pipe, box culverts, and precast manholes for drainage and sewage systems, water treatment facilities, and other related applications; and standard welded wire reinforcement, a secondary reinforcing product for crack control applications in residential and light nonresidential construction, including driveways, sidewalks, and various slab-on-grade applications. It sells its products through sales representatives to the manufacturers of concrete products, rebar fabricators, distributors, and contractors. Insteel Industries Inc. was founded in 1953 and is headquartered in Mount Airy, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $648M | $72M | $41M | $19M | 11.0% | 22.4% | 112.5% |
| 2024 | $529M | $41M | $19M | $39M | 5.5% | -18.5% | -40.4% |
| 2023 | $649M | $55M | $32M | $111M | 8.5% | -21.5% | -74.1% |
| 2022 | $827M | $176M | $125M | $-10M | 32.1% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 826.83 | 649.19 | 529.20 | 647.71 |
| Operating Revenue | - | 826.83 | 649.19 | 529.20 | 647.71 |
| Cost Of Revenue | - | 629.52 | 583.79 | 479.57 | 554.27 |
| Gross Profit | - | 197.31 | 65.40 | 49.63 | 93.44 |
| Operating Expense | - | 36.05 | 30.68 | 29.59 | 39 |
| Selling General And Administration | - | 36.05 | 30.68 | 29.59 | 39 |
| Total Expenses | - | 665.57 | 614.48 | 509.16 | 593.27 |
| Operating Income | - | 161.26 | 34.71 | 20.04 | 54.44 |
| EBITDA | - | 176.30 | 55.15 | 40.79 | 72.25 |
| Normalized EBITDA | - | 175.99 | 55.15 | 40.85 | 74.88 |
| EBIT | - | 161.82 | 41.84 | 25.38 | 53.86 |
| Interest Income | - | 0.33 | 3.71 | 5.43 | 2.07 |
| Interest Expense | - | 0.09 | 0.09 | 0.09 | 0.05 |
| Net Interest Income | - | 0.24 | 3.62 | 5.34 | 2.02 |
| Other Non Operating Income Expenses | - | -0.09 | 3.42 | -0.04 | -0.02 |
| Other Income Expense | - | 0.23 | 3.42 | -0.10 | -2.65 |
| Interest Income Non Operating | - | 0.33 | 3.71 | 5.43 | 2.07 |
| Interest Expense Non Operating | - | 0.09 | 0.09 | 0.09 | 0.05 |
| Net Non Operating Interest Income Expense | - | 0.24 | 3.62 | 5.34 | 2.02 |
| Pretax Income | - | 161.73 | 41.76 | 25.29 | 53.80 |
| Tax Provision | - | 36.72 | 9.34 | 5.98 | 12.78 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.07 | 0 | -0.01 | -0.63 |
| Net Income Continuous Operations | - | 125.01 | 32.42 | 19.30 | 41.02 |
| Net Income From Continuing And Discontinued Operation | - | 125.01 | 32.42 | 19.30 | 41.02 |
| Net Income From Continuing Operation Net Minority Interest | - | 125.01 | 32.42 | 19.30 | 41.02 |
| Net Income | - | 125.01 | 32.42 | 19.30 | 41.02 |
| Net Income Common Stockholders | - | 125.01 | 32.42 | 19.30 | 41.02 |
| Net Income Including Noncontrolling Interests | - | 125.01 | 32.42 | 19.30 | 41.02 |
| Normalized Income | - | 124.77 | 32.42 | 19.35 | 43.02 |
| Diluted NI Availto Com Stockholders | - | 125.01 | 32.42 | 19.30 | 41.02 |
| Basic Average Shares | - | 19.52 | 19.50 | 19.50 | 19.48 |
| Diluted Average Shares | - | 19.63 | 19.57 | 19.58 | 19.56 |
| Reconciled Depreciation | - | 14.49 | 13.30 | 15.41 | 18.39 |
| Reconciled Cost Of Revenue | - | 629.52 | 583.79 | 479.57 | 554.27 |
| Total Unusual Items | - | 0.32 | 0 | -0.06 | -2.63 |
| Total Unusual Items Excluding Goodwill | - | 0.32 | 0 | -0.06 | -2.63 |
| Special Income Charges | - | 0.32 | 0 | -0.06 | -2.63 |
| Restructuring And Mergern Acquisition | - | -0.32 | 0 | 0.06 | 2.63 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Insteel Industries Inc.this co. | IIIN | $559M | 13.63β discount | 1.51 | 11.0% | 7.26 |
| Mistras Group, Inc. | MG | $588M | 34.92 | 2.50 | 7.2% | 11.35 |
| Orion Group Holdings, Inc. | ORN | $574M | 230.87 | 3.61 | 1.6% | 15.08 |
| Bowman Consulting Group Ltd. | BWMN | $573M | 46.84 | 2.19 | 4.7% | 17.30 |
| Titan Machinery Inc. | TITN | $562M |
| - |
| - |
| - |
| - |
| - |
| - |
| -10.38 |
| 0.97 |
| -9.4% |
| 38.60 |
| Enviri Corporation | NVRI | $554M | -2.43 | -0.91 | 37.5% | 62.25 |
| Ennis, Inc. | EBF | $519M | 12.18 | 1.68 | 13.8% | 7.07 |
| Aspen Aerogels, Inc. | ASPN | $516M | -1.33 | 2.19 | -165.4% | -1.52 |
| Tejon Ranch Co. | TRC | $515M | 6870.53 | 1.08 | 0.0% | -309.29 |
| Peer Median | - | 23.55 | 1.94 | 3.1% | 13.21 | |