IIIN on NYSE

INSTEEL INDUSTRIES INC

American steel works based in Mount Airy, incorporated in North Carolina.

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Last updated Oct 18, 2026.

Overview

$647.7MRevenue, fiscal 2025²

$41.0MNet income, fiscal 2025²

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TickerIIIN on NYSE
IndustrySteel Works, Blast Furnaces & Rolling & Finishing Mills
HeadquartersMount Airy, United States
Incorporated inNC³
Business address1373 Boggs Dr, Mount Airy, Nc 27030³
Filer categoryAccelerated filer³

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

14.4%Gross margin²

6.3%Net margin²

22.4%Revenue growth, 2025²

11.0%Return on equity²

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Welded Wire Reinforcement brought in 66% of the revenue INSTEEL INDUSTRIES INC broke down this way in fiscal 2025.

Welded Wire Reinforcement$424.5M²66%up 39% from 2024
PC Strand$223.2M²34%down 0% from 2024

Products and services by year

Products and services	2023	2024	2025
Welded Wire Reinforcement	$375.8M	$305.8M	$424.5M
PC Strand	$273.4M	$223.4M	$223.2M

Regions

United States brought in 99% of the revenue INSTEEL INDUSTRIES INC broke down this way in fiscal 2025.

United States$644.0M²99%up 22% from 2024
Outside the United States$3.7M²1%up 47% from 2024

Regions by year

Regions	2023	2024	2025
United States	$643.2M	$526.7M	$644.0M
Outside the United States	$6.0M	$2.5M	$3.7M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenue

Cost of revenue86¢$554.3M
Selling, general and admin6¢$39.0M
Interest0¢$52.0K
Income tax2¢$12.8M
Profit6¢$41.0M

Out of $647.7M in revenue.²

Where each dollar of operating cash went, fiscal 2025

Dividends paidKept or used elsewhere

Dividends paid80¢$21.8M
Share buybacks8¢$2.3M
Kept or used elsewhere12¢$3.1M

Out of $27.2M of cash from operations.²

Financial statements

Revenue⁴⁵⁶⁷⁸²$647.7M in 2025+43% since 2018

Gross profit⁴⁵⁶⁷⁸²$93.4M in 2025+32% since 2018

Net income⁴⁵⁶⁷⁸²$41.0M in 2025+13% since 2018

Every line of the income statement in the latest annual report, as filed.²

Period ending	2025-09-30	2024-09-30	2023-09-30
Net sales	$647.7M	$529.2M	$649.2M
Cost of sales	$554.3M	$479.6M	$583.8M
Gross profit	$93.4M	$49.6M	$65.4M
Selling, general and administrative expense	$39.0M	$29.6M	$30.7M
Restructuring charges, net	$2.3M	$0	$0
Acquisition costs	$325.0K	$61.0K	$0
Other expense (income), net	$17.0K	$37.0K	-$3.4M
Interest expense	$52.0K	$89.0K	$87.0K
Interest income	-$2.1M	-$5.4M	-$3.7M
Earnings before income taxes	$53.8M	$25.3M	$41.8M
Income taxes	$12.8M	$6.0M	$9.3M
Net earnings	$41.0M	$19.3M	$32.4M
Basic (in dollars per share)	$2.11	$0.99	$1.66
Diluted (in dollars per share)	$2.10	$0.99	$1.66
Cash dividends declared (in dollars per share)	$1.12	$2.62	$2.12
Basic (in shares)	19.5M shares	19.5M shares	19.5M shares
Diluted (in shares)	19.6M shares	19.6M shares	19.6M shares

Total assets¹¹⁴⁵⁶¹²⁸²$462.6M in 2025+40% since 2018

Shareholders’ equity⁵⁶⁷⁸¹²²$371.5M in 2025+54% since 2018

Cash⁴⁵⁶¹²⁸²$38.6M in 2025−12% since 2018

Every line of the balance sheet in the latest annual report, as filed.²

Period ending	2025-09-30	2024-09-30	2023-09-30
Cash and cash equivalents	$38.6M	$111.5M
Accounts receivable, net	$78.7M	$58.3M
Inventories	$137.8M	$88.8M
Other current assets	$6.8M	$8.6M
Total current assets	$261.9M	$267.3M
Property, plant and equipment, net	$128.7M	$125.5M
Intangibles, net	$16.6M	$5.3M
Goodwill	$37.8M	$9.7M
Other assets	$17.7M	$14.6M
Total assets	$462.6M	$422.6M
Accounts payable	$48.2M	$37.5M
Accrued expenses	$17.8M	$9.5M
Total current liabilities	$66.0M	$47.0M
Other liabilities	$25.1M	$24.7M
Preferred stock, no par value Authorized shares: 1,000 None Issued	$0	$0
Common stock, $1 stated value Authorized shares: 50,000 Issued and outstanding shares: 2025, 19,420; 2024, 19,452	$19.4M	$19.5M
Additional paid-in capital	$89.4M	$86.7M
Retained earnings	$262.7M	$245.3M
Accumulated other comprehensive loss	-$36.0K	-$608.0K
Total shareholders equity	$371.5M	$350.9M	$381.5M
Total liabilities and shareholders equity	$462.6M	$422.6M
Preferred Stock, No Par Value (in dollars per share)	$0	$0
Preferred Stock, Shares Authorized (in shares)	1.0M shares	1.0M shares
Preferred Stock, Shares Issued (in shares)	0 shares	0 shares
Common Stock, Par or Stated Value Per Share (in dollars per share)	$1.00	$1.00
Common Stock, Shares Authorized (in shares)	50.0M shares	50.0M shares
Common Stock, Shares, Issued (in shares)	19.4M shares	19.5M shares
Common Stock, Shares, Outstanding (in shares)	19.4M shares	19.5M shares

Cash from operations⁴⁵⁶⁷⁸²$27.2M in 2025−50% since 2018

Dividends paid⁴⁵⁶⁷⁸²$21.8M in 2025+2% since 2018

Share buybacks⁶⁷⁸²$2.3M in 2025

Every line of the cash flow in the latest annual report, as filed.²

Period ending	2025-09-30	2024-09-30	2023-09-30
Net earnings	$41.0M	$19.3M	$32.4M
Depreciation and amortization	$18.4M	$15.4M	$13.3M
Amortization of capitalized financing costs	$50.0K	$50.0K	$57.0K
Stock-based compensation expense	$3.5M	$3.1M	$2.4M
Deferred income taxes	-$748.0K	$4.2M	$238.0K
Asset impairment charges	$1.0M	$0	$0
Loss (gain) on sale and disposition of property, plant and equipment	$127.0K	$99.0K	-$3.3M
Increase in cash surrender value of life insurance policies over premiums paid	-$452.0K	-$1.5M	-$531.0K
Accounts receivable, net	-$20.4M	$5.1M	$18.2M
Inventories	-$36.5M	$14.5M	$94.3M
Accounts payable and accrued expenses	$19.3M	-$639.0K	-$16.9M
Other changes	$1.9M	-$1.3M	$1.9M
Total adjustments	-$13.9M	$38.9M	$109.8M
Net cash provided by operating activities	$27.2M	$58.2M	$142.2M
Acquisition of businesses	-$72.1M	$0	$0
Capital expenditures	-$8.2M	-$19.1M	-$30.7M
Increase in cash surrender value of life insurance policies	-$581.0K	-$517.0K	-$476.0K
Proceeds from sale of assets held for sale	$5.0M	$0	$0
Proceeds from sale of property, plant, and equipment	$107.0K	$4.0K	$9.9M
Proceeds from surrender of life insurance policies	$91.0K	$25.0K	$358.0K
Net cash used for investing activities	-$75.7M	-$19.6M	-$20.9M
Proceeds from long-term debt	$291.0K	$298.0K	$323.0K
Principal payments on long-term debt	-$291.0K	-$298.0K	-$323.0K
Cash dividends paid	-$21.8M	-$50.9M	-$41.3M
Cash received from exercise of stock options	$62.0K	$428.0K	$239.0K
Financing costs	$0	$0	-$177.0K
Payment of employee tax withholdings related to net share transactions	-$425.0K	-$352.0K	-$432.0K
Repurchases of common stock	-$2.3M	-$1.8M	-$2.3M
Net cash used for financing activities	-$24.4M	-$52.7M	-$44.0M
Net (decrease) increase in cash and cash equivalents	-$72.9M	-$14.1M	$77.4M
Income taxes, net	$10.8M	$3.3M	$7.8M
Purchases of property, plant and equipment in accounts payable	$1.5M	$2.4M	$1.3M
Restricted stock units and stock options surrendered for withholding taxes payable	$425.0K	$352.0K	$432.0K

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Leadership

Who has led INSTEEL INDUSTRIES INC, and when. Pick a name to see everywhere that person has worked.

Chief financial officer

2010201520202025

Chief executive officerH. O. Woltz Iii. Jan 10, 2006 to now¹³
ChairH. O. Woltz Iii. Aug 11, 2009 to now¹⁴
PresidentH. O. Woltz Iii. Jan 10, 2006 to now¹³
Chief financial officerScot R. Jafroodi Aug 16, 2023 to now¹⁵
Chief financial officerMark A. Carano May 26, 2020 to Dec 7, 2022¹⁶
Chief financial officerMichael C. Gazmarian Aug 11, 2009 to Aug 3, 2020¹⁷

Board members and other officers (26)

Controller and CAOPatrick K. Griffin Feb 15, 2023 to Aug 16, 2023¹⁸
Vice President-AdministrationElizabeth Carroll Southern Jun 6, 2023 to Jun 6, 2023¹⁹
Senior Vice PresidentJames R. York Feb 17, 2021 to now²⁰
Chief Accounting OfficerScot R. Jafroodi Feb 23, 2007 to Aug 14, 2023²¹
Vice President-AdministrationGary D. Kniskern Jan 10, 2006 to Aug 16, 2006²²
TreasurerMichael C. Gazmarian Jan 10, 2006 to Feb 11, 2009²³
Vice PresidentJames F. Petelle Nov 15, 2006 to Sep 7, 2023²⁴
Board memberEric Zernikow Mar 3, 2025 to now²⁵
Board memberBlake Doyle Dec 11, 2024 to now²⁶
Board memberAnne H. Lloyd Apr 16, 2019 to now²⁷
Board memberAbney S. Boxley Iii. Apr 9, 2018 to now²⁸
Board memberG. Kennedy Thompson Sep 7, 2017 to now²⁹
Board memberJon M. Ruth Apr 1, 2016 to now³⁰
Board memberJoseph A. Rutkowski Sep 22, 2015 to Feb 14, 2025³¹
Board memberDuncan S. Gage Jun 10, 2011 to Feb 18, 2015³²
Board memberCharles B. Newsome Jan 10, 2006 to Aug 16, 2018³³
Board memberFrances H. Johnson Jan 10, 2006 to Feb 16, 2006³⁴
Board memberGary L. Pechota Jan 10, 2006 to Nov 29, 2016³⁵
Board memberH. O. Woltz Iii. Jan 10, 2006 to Feb 11, 2009¹³
Board memberHoward O. Woltz Jr. Jan 10, 2006 to Feb 10, 2010³⁶
Board memberLouis E. Hannen Jan 10, 2006 to Feb 12, 2016³⁷
Board memberRichard C. Vaughn Jan 10, 2006 to Feb 12, 2016³⁸
Board memberW. Allen Rogers Ii. Jan 10, 2006 to now³⁹
Board memberWilliam J. Shields Jan 10, 2006 to Feb 10, 2010⁴⁰
General counselElizabeth Carroll Southern Aug 16, 2023 to now⁴¹
General counselJames F. Petelle Nov 19, 2020 to Jun 8, 2023⁴²

Timeline

Jan 10, 2006New chief executive H. O. Woltz Iii. becomes CEO¹³

Recent filings

Aug 27, 20264
Aug 24, 2026144
Aug 21, 20268-K
Aug 18, 20264
Aug 18, 20264
Aug 18, 20264
Aug 18, 20264
Aug 18, 20264
Aug 14, 2026SCHEDULE 13G/A
Aug 12, 20264
Aug 12, 20264
Aug 12, 20264
Aug 12, 20264
Aug 12, 20264
Aug 11, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.¹

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARINSTEEL INDUSTRIES INC filings on SEC EDGAR
2
SEC EDGARINSTEEL INDUSTRIES INC 10-K for fiscal 2025
3
SEC EDGARINSTEEL INDUSTRIES INC filings on SEC EDGAR
4
SEC EDGARINSTEEL INDUSTRIES INC 10-K for fiscal 2018
5
SEC EDGARINSTEEL INDUSTRIES INC 10-K for fiscal 2019
6
SEC EDGARINSTEEL INDUSTRIES INC 10-K for fiscal 2020
7
SEC EDGARINSTEEL INDUSTRIES INC 10-K for fiscal 2021
8
SEC EDGARINSTEEL INDUSTRIES INC 10-K for fiscal 2022
9
SEC EDGARINSTEEL INDUSTRIES INC 10-Q for fiscal 2026
10
SEC EDGARINSTEEL INDUSTRIES INC 10-Q for fiscal 2026
11
SEC EDGARINSTEEL INDUSTRIES INC 10-K for fiscal 2018
12
SEC EDGARINSTEEL INDUSTRIES INC 10-K for fiscal 2022
13
SEC EDGARH. O. Woltz Iii., Chief executive officer
14
SEC EDGARH. O. Woltz Iii., Chair
15
SEC EDGARScot R. Jafroodi, Chief financial officer
16
SEC EDGARMark A. Carano, Chief financial officer
17
SEC EDGARMichael C. Gazmarian, Chief financial officer
18
SEC EDGARPatrick K. Griffin, Controller and CAO
19
SEC EDGARElizabeth Carroll Southern, Vice President-Administration
20
SEC EDGARJames R. York, Senior Vice President
21
SEC EDGARScot R. Jafroodi, Chief Accounting Officer
22
SEC EDGARGary D. Kniskern, Vice President-Administration
23
SEC EDGARMichael C. Gazmarian, Treasurer
24
SEC EDGARJames F. Petelle, Vice President
25
SEC EDGAREric Zernikow, Board member
26
SEC EDGARBlake Doyle, Board member
27
SEC EDGARAnne H. Lloyd, Board member
28
SEC EDGARAbney S. Boxley Iii., Board member
29
SEC EDGARG. Kennedy Thompson, Board member
30
SEC EDGARJon M. Ruth, Board member
31
SEC EDGARJoseph A. Rutkowski, Board member
32
SEC EDGARDuncan S. Gage, Board member
33
SEC EDGARCharles B. Newsome, Board member
34
SEC EDGARFrances H. Johnson, Board member
35
SEC EDGARGary L. Pechota, Board member
36
SEC EDGARHoward O. Woltz Jr., Board member
37
SEC EDGARLouis E. Hannen, Board member
38
SEC EDGARRichard C. Vaughn, Board member
39
SEC EDGARW. Allen Rogers Ii., Board member
40
SEC EDGARWilliam J. Shields, Board member
41
SEC EDGARElizabeth Carroll Southern, General counsel
42
SEC EDGARJames F. Petelle, General counsel