A precipitation hardenable, martensitic stainless steel alloy is disclosed consisting essentially of, in weight percent, about______________________________________ C 0.03 max Mn 1.0 max Si 0.75 max P 0.040 max S 0.020 max Cr 10-13 Ni 10.5-11.6 Ti 1.5-1.8 Mo 0.25-1.5 Cu 0.95 max Al 0.25 max Nb 0.3 max B 0.010 max N 0.030 max Ce 0.001-0.025______________________________________the balance essentially iron. The disclosed alloy provides a unique combination of stress-corrosion cracking resistance, strength, and notch toughness even when used to form large cross-section pieces. A method of making such an alloy includes adding cerium during the melting process in a amount sufficient to yield an effective amount of cerium in the alloy product.