$TX

Ternium S.A.

CIK:0001342874|SEC Filings

Consolidated Income Statements - USD ($) $ in Thousands	12 Months Ended
Consolidated Income Statements - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disclosure of analysis of other comprehensive income by item [line items]
Net sales	$ 15,609,094	$ 17,649,060	$ 17,610,092
Cost of sales	(13,255,990)	(14,760,224)	(14,050,737)
Gross profit	2,353,104	2,888,836	3,559,355
Selling, general and administrative expenses	(1,601,466)	(1,650,759)	(1,471,678)
Other operating (expense) income, net	(46,216)	25,234	110,337
Operating income	705,422	1,263,311	2,198,014
Finance expense	(214,392)	(196,175)	(125,376)
Finance income	237,532	297,820	255,009
Other financial (expenses) income, net	(48,564)	(295,859)	(6,179)
Equity in earnings of non-consolidated companies	85,641	69,108	105,305
Income before income tax expense - IFRS	648,239	728,005	1,320,782
Income tax expense	(345,144)	(554,224)	(334,408)
Profit for the year	303,095	173,781	986,374
Attributable to:
Owners of the parent	425,232	(53,672)	676,043
Non-controlling interest	$ (122,137)	$ 227,453	$ 310,331
Weighted average number of shares outstanding (in shares)	1,963,076,776	1,963,076,776	1,963,076,776
Diluted earnings per share for profit attributable to the owners of the parent (expressed in $ per share)	$ 0.22	$ (0.03)	$ 0.34
Basic earnings per share for profit attributable to the owners of the parent (expressed in $ per share)	$ 0.22	$ (0.03)	$ 0.34
Usiminas
Disclosure of analysis of other comprehensive income by item [line items]
Net sales	$ 4,698,000	$ 4,803,000
Provision for ongoing litigation related to the acquisition of a participation in Usiminas	(117,400)	(410,200)	$ 0
Attributable to:
Non-controlling interest	30,000	28,000
Usiminas
Disclosure of analysis of other comprehensive income by item [line items]
Effect related to the increase of the participation in Usiminas	0	0	(171,045)
Effect related to the increase of the participation in Usiminas	$ 0	$ 0	$ (934,946)

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Cash flows from operating activities

Profit for the year

$ 303,095

$ 173,781

$ 986,374

Adjustments for:

Depreciation and amortization

788,308

743,277

657,692

Impairment charge

18,757

32,435

42,316

Income tax accruals less payments

100,423

497,697

(160,940)

Equity in earnings of non-consolidated companies

(85,641)

(69,108)

(105,305)

Interest accruals less payments/receipts, net

(14,550)

(16,331)

(45,139)

Changes in provisions

(463)

(60,469)

(64,447)

Changes in working capital

^[1]

1,035,432

(15,880)

321,081

Net foreign exchange results and others

50,864

210,555

(236,499)

Net cash provided by operating activities

2,313,625

1,906,157

2,501,124

Cash flows from investing activities

Capital expenditures and advances to suppliers for PP&E

^[2]

(2,500,854)

(1,865,419)

(1,460,677)

Decrease (Increase) in other investments

490,380

462,128

(717,534)

Proceeds from the sale of property, plant and equipment

4,146

2,388

2,477

Dividends received from non-consolidated companies

32,086

25,582

43,075

Repayment of additional paid in capital

^[3]

(10,291)

Net cash used in investing activities

(1,984,533)

(1,375,321)

(1,470,273)

Cash flows from (used in) financing activities [abstract]

Dividends paid in cash to company’s shareholders

(530,031)

(608,554)

(569,292)

Dividends paid in cash to non-controlling interest

(8,696)

(54,335)

Lease payments

(64,544)

(61,194)

(58,900)

Proceeds from borrowings

1,114,525

1,558,501

354,946

Repayments of borrowings

(1,011,831)

(1,322,803)

(493,111)

Net cash used in financing activities

(500,577)

(488,385)

(766,357)

(Decrease) increase in cash and cash equivalents

(171,485)

42,451

264,494

Movement in cash and cash equivalents

Beginning of period

1,691,263

^[4]

1,846,013

^[4]

1,653,355

Effect of exchange rate changes

11,426

(197,201)

(71,836)

(Decrease) increase in cash and cash equivalents

(171,485)

42,451

264,494

End of period

^[4]

1,531,204

1,691,263

1,846,013

Non-cash transactions:

Dividends paid in kind to non-controlling interest

(112,278)

(233,538)

Acquisition of PP&E under lease contract agreements

33,951

13,850

16,061

171,987

Usiminas

Adjustments for:

Non-cash effects related to the provision for ongoing litigation related to the acquisition of a participation in Usiminas

117,400

410,200

Usiminas

Adjustments for:

Non-cash effects related to the increase of the participation in Usiminas

1,105,991

Cash flows from investing activities

Purchase consideration

(118,686)

Cash acquired

$ 0

$ 781,072

[1]	The working capital is calculated net of non-cash movements of $210.3 million as of December 31, 2025 ($(389.8) million and $129.3 million as of December 31, 2024 and 2023, respectively) due to the variations in the exchange rates used by subsidiaries.
[2]	It includes capital expenditures of $2,659,101 and a decrease in advances to suppliers for property, plant and equipment of $(158,247) for the year ended December 31, 2025 ($1,821,111 and an increase of $44,308, respectively, for the year ended December 31, 2024).
[3]	It corresponds to the agreement in connection with the repayment of the additional paid in capital from Tenigal S. de R.L. de C.V. to the non-controlling interest as per the shareholders’ agreement signed on June 25, 2025. The shareholders agreed to the repayment of the total amount of the additional paid in capital of $63 million in the upcoming three years, starting in June 2025.
[4]	It includes restricted cash of $2,838, $2,746 and $3,129 as of December 31, 2025, 2024 and 2023, respectively. In addition, the Company had other investments with a maturity of more than three months for $1,600,061, $2,182,874 and $2,186,420 as of December 31, 2025, 2024 and 2023, respectively.

Consolidated Statements of Financial Position - USD ($)
$ in Thousands

Dec. 31, 2025

Dec. 31, 2024

Non-current assets

Property, plant and equipment, net

$ 10,406,110

$ 8,381,155

Intangible assets, net

1,002,361

1,022,111

Investments in non-consolidated companies

562,695

468,516

Other investments

215

22,979

Deferred tax assets

1,039,179

1,194,398

Receivables, net

803,902

961,298

Trade receivables, net

4,261

Non-current assets

13,818,723

12,050,457

Current assets

Receivables, net

822,544

772,726

Current income tax assets

162,475

129,713

Derivative financial instruments

42,581

4,483

Inventories, net

4,093,659

4,750,511

Trade receivables, net

1,535,716

1,562,058

Other investments

1,600,002

2,160,051

Cash and cash equivalents

^[1]

1,531,204

1,691,263

Current assets excluding assets classified as held for sale

9,788,181

11,070,805

Assets classified as held for sale

8,187

7,285

Current assets

9,796,368

11,078,090

Total assets

23,615,091

23,128,547

EQUITY

Capital and reserves attributable to the owners of the parent

11,944,300

11,968,186

Non-controlling interest

4,203,446

4,163,383

Total Equity

16,147,746

16,131,569

Non-current liabilities

Provisions

585,854

552,600

Deferred tax liabilities

24,278

88,707

Non current tax liabilities

13,152

21,436

Other liabilities

956,112

765,961

Trade payables

1,122

5,402

Lease liabilities

138,031

163,666

Borrowings

1,814,587

1,560,047

Non-current liabilities

3,533,136

3,157,819

Current liabilities

Current income tax liabilities

39,343

106,883

Other liabilities

639,786

629,678

Trade payables

2,073,496

1,925,526

Derivative financial instruments

1,081

50,342

Lease liabilities

48,503

46,458

Borrowings

604,400

670,072

Current liabilities

3,934,209

3,839,159

Total Liabilities

7,467,345

6,996,978

Total Equity and Liabilities

23,615,091

23,128,547

Usiminas

Current assets

Total assets

6,485,000

6,439,000

EQUITY

Capital and reserves attributable to the owners of the parent

4,307,000

4,309,000

Non-controlling interest

525,000

452,000

Current liabilities

Provision for ongoing litigation related to the acquisition of a participation in Usiminas

527,600

410,200

Total Liabilities

$ 2,178,000

$ 2,130,000

[1]	It includes restricted cash of $2,838, $2,746 and $3,129 as of December 31, 2025, 2024 and 2023, respectively. In addition, the Company had other investments with a maturity of more than three months for $1,600,061, $2,182,874 and $2,186,420 as of December 31, 2025, 2024 and 2023, respectively.