TX
Ternium S.A.
TX's fundamentals are mixed: its operating margin rose 4 points to 7.5%, but free cash flow was negative. At 14x earnings, it's trading above its usual 11x. Analysts expect strong earnings growth, though they disagree widely on how much.
TX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Under pressure | |
| Healthy |
TX's profitability and balance sheet are currently healthy, and its revenue is stable, but its cash flow is under pressure.
TX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.9x | $17.90 | -65% |
| Fair | 11x | $40.25 | -20% |
| Current | 14x | $50.45 | — |
| Expensive | 20x | $73.28 | +45% |
Historical ranges are pointers, not guarantees.
TX's PE is in its expensive range at 14x.
TX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for TX, with profitability improving. However, they disagree widely on these estimates.
TX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.62 | +19% |
| Q1 2026 | $2.92 | +$4.69 |
| Q4 2025 | $2.12 | +$2.39 |
| Q3 2025 | $2.93 | +615% |
| Q2 2025 | $3.03 | +$6.62 |
| Q1 2025 | -$1.77 | -155% |
| Q4 2024 | -$0.27 | -108% |
| Q3 2024 | $0.41 | -72% |
TX's earnings per share have fallen from their peak: $3.62 over the past year, against $20.35 in early 2022.
TX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.3B | +10% |
| Q1 2026 | $3.9B | 0% |
| Q4 2025 | $3.7B | -3.4% |
| Q3 2025 | $4B | -12% |
| Q2 2025 | $3.9B | -13% |
| Q1 2025 | $3.9B | -18% |
| Q4 2024 | $3.9B | -21% |
| Q3 2024 | $4.5B | -14% |
TX's revenue is recovering but still below its 2023 peak: $4.3B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 12% | +7.1 points |
| Q1 2026 | 7.4% | +4 points |
| Q4 2025 | 4.3% | +3.2 points |
| Q3 2025 | 5.5% | +1.5 points |
| Q2 2025 | 5% | -3.2 points |
| Q1 2025 | 3.4% | -11 points |
| Q4 2024 | 1.1% | -11 points |
| Q3 2024 | 3.9% | -6.3 points |
TX's operating margin was 12% last quarter, up 7.1 points from the same quarter a year ago.
TX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$175M | -175% |
| Q1 2026 | -$188.5M | +$122.5M |
| Q4 2025 | $65M | +$154.6M |
| Q3 2025 | -$175.1M | -$28.8M |
| Q2 2025 | $233.9M | -5.4% |
| Q1 2025 | -$311M | -1283% |
| Q4 2024 | -$89.6M | -174% |
| Q3 2024 | -$146.3M | -125% |
TX has burned cash in six of the last eight quarters: −$474M over the past year, against −$313M the year before.
TX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -22 shares |
| 3 years | 0% | +1 shares |
| 5 years | 0% | -- |
| Available history | 0% | -- |
TX has 196M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
TX hasn't bought back shares in the past year.
TX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 0.9x | Very low |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 0.4x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.5x | Very low |
| Q3 2024 | 0.4x | Very low |
TX's net debt is less than a year of its operating earnings (EBITDA).
TX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.6 | Neutral |
| Stochastic | 26.0 | Neutral |
TX's weekly RSI is 49 (neutral) and its Stochastic is 26 (neutral).
TX PE vs Basic Materials Sector
| Metric | TX | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 19x | 25% below |
| PE % | 66 | 40 | 26 pts above |
TX is trading at 14x earnings, a 25% discount to the Basic Materials sector's median of 19x.
TX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $54.5 | 7.3% below |
| 20 week MA | $52.7 | 4.3% below |
| 50 week MA | $46.5 | 8.5% above |
| 100 week MA | $39.0 | 29% above |
| 200 week MA | $38.9 | 30% above |
TX has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 30% above its 200-week average.
TX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.2 | $30.1 | +36% |
| 2021 | $30.1 | $42.6 | +41% |
| 2022 | $42.6 | $30.9 | -27% |
| 2023 | $30.9 | $42.5 | +37% |
| 2024 | $42.5 | $29.0 | -32% |
| 2025 | $29.0 | $38.4 | +33% |
| 2026 YTD | $38.4 | $50.5 | +31% |
TX has finished higher in four of the last six years. It's up 31% so far in 2026.