Top Basic Materials Stocks by Net Margin
Top basic materials companies ranked by net margin, latest annual filings.
What Net Margin Means for Basic Materials Companies
Net margin in basic materials is highly cyclical for the same reason it is in energy: producers market largely undifferentiated commodities whose prices are set globally, while their cost base is dominated by fixed assets and long-lived operations. Miners, chemicals, steelmakers, and paper-and-packaging firms each have distinct economics, but across the sector the bottom-line margin tends to expand dramatically in commodity upswings and compress or turn negative in downturns.
Why It Matters in Basic Materials
A net margin that holds through a commodity trough usually reflects low-cost asset positioning and integrated operations rather than any particular pricing ability, since pricing is not in management's control. It is worth noting that inventory write-downs, environmental remediation provisions, and mine or plant impairments can produce large single-period swings in reported net margin that are driven more by cycle turn timing than by operational performance during the period.
What to Read Alongside
Pair net margin with [Gross Margin](/financials/top-gross-margin-stocks/basic-materials/) for the top-of-stack spread between realized price and direct cost, [Operating Margin](/financials/top-operating-margin-stocks/basic-materials/) for the middle layer, and [Free Cash Flow](/financials/top-free-cash-flow-stocks/basic-materials/) because these businesses are heavily capital-intensive.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | MSB | Mesabi Trust | Basic Materials | 94.60% | $0.34B |
| 2 | OR | OR Royalties Inc. | Basic Materials | 74.30% | $6.77B |
| 3 | WPM | Wheaton Precious Metals Corp. | Basic Materials | 63.58% | $58.32B |
| 4 | TFPM | Triple Flag Precious Metals Corp. | Basic Materials | 61.74% | $6.28B |
| 5 | FNV | Franco-Nevada Corporation | Basic Materials | 61.01% | $45.51B |
| 6 | VMET | Versamet Royalties Corporation | Basic Materials | 58.49% | $1.39B |
| 7 | AGI | Alamos Gold Inc. | Basic Materials | 48.97% | $16.21B |
| 8 | VOXR | Vox Royalty Corp. | Basic Materials | 48.88% | $0.40B |
| 9 | BVN | Compañía de Minas Buenaventura S.A.A. | Basic Materials | 47.94% | $8.70B |
| 10 | RGLD | Royal Gold, Inc. | Basic Materials | 45.25% | $18.69B |
| 11 | GFI | Gold Fields Limited | Basic Materials | 41.66% | $34.99B |
| 12 | IDR | Idaho Strategic Resources, Inc. | Basic Materials | 39.42% | $0.58B |
| 13 | USLM | United States Lime & Minerals, Inc. | Basic Materials | 36.03% | $3.07B |
| 14 | KGC | Kinross Gold Corporation | Basic Materials | 35.03% | $34.15B |
| 15 | ERO | Ero Copper Corp. | Basic Materials | 33.96% | $3.21B |
| 16 | FSM | Fortuna Mining Corp. | Basic Materials | 32.85% | $2.86B |
| 17 | SCCO | Southern Copper Corporation | Basic Materials | 32.30% | $161.93B |
| 18 | AU | AngloGold Ashanti plc | Basic Materials | 32.08% | $46.60B |
| 19 | NEM | Newmont Corporation | Basic Materials | 31.25% | $115.65B |
| 20 | ASM | Avino Silver & Gold Mines Ltd. | Basic Materials | 28.89% | $1.19B |
| 21 | CDE | Coeur Mining, Inc. | Basic Materials | 28.30% | $19.04B |
| 22 | EGO | Eldorado Gold Corporation | Basic Materials | 27.73% | $8.33B |
| 23 | PAAS | Pan American Silver Corp. | Basic Materials | 27.08% | $22.35B |
| 24 | SVM | Silvercorp Metals Inc. | Basic Materials | 26.35% | $2.73B |
| 25 | IAG | IAMGOLD Corporation | Basic Materials | 25.67% | $9.94B |
| 26 | HBM | Hudbay Minerals Inc. | Basic Materials | 25.52% | $11.96B |
| 27 | CF | CF Industries Holdings, Inc. | Basic Materials | 25.38% | $18.05B |
| 28 | CMCL | Caledonia Mining Corporation Plc | Basic Materials | 25.22% | $0.41B |
| 29 | SSRM | SSR Mining Inc. | Basic Materials | 24.28% | $6.11B |
| 30 | HL | Hecla Mining Company | Basic Materials | 22.61% | $11.29B |
| 31 | BHP | BHP Group Limited | Basic Materials | 21.74% | $225.53B |
| 32 | LIN | Linde plc | Basic Materials | 20.30% | $234.62B |
| 33 | MLM | Martin Marietta Materials, Inc. | Basic Materials | 18.50% | $34.88B |
| 34 | EXP | Eagle Materials Inc. | Basic Materials | 18.36% | $6.73B |
| 35 | RIO | Rio Tinto Group | Basic Materials | 17.78% | $171.41B |
| 36 | AG | First Majestic Silver Corp. | Basic Materials | 16.78% | $9.76B |
| 37 | UAN | CVR Partners, LP | Basic Materials | 16.28% | $1.28B |
| 38 | TGLS | Tecnoglass Inc. | Basic Materials | 16.22% | $1.90B |
| 39 | NEU | NewMarket Corporation | Basic Materials | 15.37% | $7.31B |
| 40 | BCPC | Balchem Corporation | Basic Materials | 14.93% | $5.08B |
| 41 | SSD | Simpson Manufacturing Co., Inc. | Basic Materials | 14.79% | $7.69B |
| 42 | WDFC | WD-40 Company | Basic Materials | 14.68% | $2.73B |
| 43 | SQM | Sociedad Química y Minera de Chile S.A. | Basic Materials | 14.00% | $22.19B |
| 44 | VMC | Vulcan Materials Company | Basic Materials | 13.56% | $36.73B |
| 45 | SMID | Smith-Midland Corporation | Basic Materials | 13.38% | $0.16B |
| 46 | ECL | Ecolab Inc. | Basic Materials | 12.91% | $71.58B |
| 47 | REX | REX American Resources Corporation | Basic Materials | 12.75% | $1.52B |
| 48 | EQX | Equinox Gold Corp. | Basic Materials | 12.19% | $9.07B |
| 49 | TRX | TRX Gold Corporation | Basic Materials | 11.40% | $0.34B |
| 50 | TTAM | Titan America SA | Basic Materials | 11.14% | $2.95B |
| 51 | ODC | Oil-Dri Corporation of America | Basic Materials | 11.12% | $1.22B |
| 52 | NGD | New Gold Inc. | Basic Materials | 11.10% | $7.19B |
| 53 | SHW | The Sherwin-Williams Company | Basic Materials | 10.90% | $74.01B |
| 54 | ORLA | Orla Mining Ltd. | Basic Materials | 10.10% | $3.92B |
| 55 | CRH | CRH plc | Basic Materials | 10.02% | $71.21B |
| 56 | PPG | PPG Industries, Inc. | Basic Materials | 9.93% | $24.96B |
| 57 | HLP | Hongli Group Inc. | Basic Materials | 9.91% | $0.04B |
| 58 | RPM | RPM International Inc. | Basic Materials | 9.34% | $13.29B |
| 59 | AA | Alcoa Corporation | Basic Materials | 9.02% | $20.59B |
| 60 | CBT | Cabot Corporation | Basic Materials | 8.91% | $4.29B |
| 61 | SAND | Sandstorm Gold Ltd. | Basic Materials | 8.79% | $3.55B |
| 62 | ARIS | Aris Mining Corporation | Basic Materials | 8.56% | $3.54B |
| 63 | NTR | Nutrien Ltd. | Basic Materials | 8.54% | $33.12B |
| 64 | FCX | Freeport-McMoRan Inc. | Basic Materials | 8.50% | $100.18B |
| 65 | SXT | Sensient Technologies Corporation | Basic Materials | 8.34% | $4.80B |
| 66 | HWKN | Hawkins, Inc. | Basic Materials | 7.52% | $3.18B |
| 67 | ESI | Element Solutions Inc | Basic Materials | 7.48% | $10.23B |
| 68 | NEXA | Nexa Resources S.A. | Basic Materials | 7.43% | $1.99B |
| 69 | AXTA | Axalta Coating Systems Ltd. | Basic Materials | 7.41% | $6.80B |
| 70 | HDSN | Hudson Technologies, Inc. | Basic Materials | 6.76% | $0.23B |
| 71 | NWPX | NWPX Infrastructure, Inc. | Basic Materials | 6.73% | $1.18B |
| 72 | IOSP | Innospec Inc. | Basic Materials | 6.56% | $1.99B |
| 73 | STLD | Steel Dynamics, Inc. | Basic Materials | 6.52% | $39.93B |
| 74 | CTVA | Corteva, Inc. | Basic Materials | 6.29% | $51.81B |
| 75 | SOLS | Solstice Advanced Materials, Inc. | Basic Materials | 6.10% | $13.36B |
| 76 | CX | CEMEX, S.A.B. de C.V. | Basic Materials | 6.01% | $18.67B |
| 77 | EMN | Eastman Chemical Company | Basic Materials | 5.42% | $8.28B |
| 78 | NUE | Nucor Corporation | Basic Materials | 5.37% | $59.73B |
| 79 | MT | ArcelorMittal S.A. | Basic Materials | 5.29% | $54.48B |
| 80 | RS | Reliance, Inc. | Basic Materials | 5.17% | $20.24B |
| 81 | VALE | Vale S.A. | Basic Materials | 5.16% | $67.23B |
| 82 | KNF | Knife River Corporation | Basic Materials | 4.99% | $4.35B |
| 83 | UFPI | UFP Industries, Inc. | Basic Materials | 4.66% | $4.53B |
| 84 | MOS | The Mosaic Company | Basic Materials | 4.49% | $7.28B |
| 85 | FUL | H.B. Fuller Company | Basic Materials | 4.37% | $3.29B |
| 86 | HCC | Warrior Met Coal, Inc. | Basic Materials | 4.35% | $5.59B |
| 87 | SMG | The Scotts Miracle-Gro Company | Basic Materials | 4.25% | $3.31B |
| 88 | MTRN | Materion Corporation | Basic Materials | 4.19% | $4.73B |
| 89 | WLKP | Westlake Chemical Partners LP | Basic Materials | 4.17% | $0.81B |
| 90 | CMT | Core Molding Technologies, Inc. | Basic Materials | 4.09% | $0.20B |
| 91 | ELE | Elemental Royalty Corporation | Basic Materials | 4.06% | $1.10B |
| 92 | MEOH | Methanex Corporation | Basic Materials | 4.03% | $4.70B |
| 93 | LXU | LSB Industries, Inc. | Basic Materials | 4.00% | $0.93B |
| 94 | SLVM | Sylvamo Corporation | Basic Materials | 3.94% | $1.54B |
| 95 | ICL | ICL Group Ltd | Basic Materials | 3.91% | $7.60B |
| 96 | IPI | Intrepid Potash, Inc. | Basic Materials | 3.75% | $0.50B |
| 97 | WS | Worthington Steel, Inc. | Basic Materials | 3.58% | $2.17B |
| 98 | KALU | Kaiser Aluminum Corporation | Basic Materials | 3.35% | $3.05B |
| 99 | ASIX | AdvanSix Inc. | Basic Materials | 3.24% | $0.59B |
| 100 | CSTM | Constellium SE | Basic Materials | 3.23% | $4.92B |
No companies match this search.
How this ranking is built
Companies are ranked by net margin as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.