STLD · Steel Dynamics Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.20B | - | $4.83B | $4.57B | $4.37B | - | $4.34B | $4.63B | $4.69B | - |
| Cost of Revenue | $4.44B | - | $4.07B | $3.95B | $3.88B | - | $3.74B | $3.86B | $3.71B | - |
| Gross Profit | $763.22M | - | $757.88M | $618.47M | $486.54M | - | $605.22M | $774.84M | $980.80M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $175.22M | - | $200.84M | $198.01M | $181.81M | - | $145.90M | $141.21M | $159.51M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $159.28M | - | $138.49M | $132.87M | $133.76M | - | $121.05M | $117.05M | $115.25M | - |
| Operating Income | $538.00M | - | $507.76M | $382.86M | $275.14M | - | $395.44M | $559.12M | $750.98M | - |
| Interest Expense | $33.24M | - | $13.57M | $17.38M | $11.98M | - | $18.41M | $12.72M | $11.98M | - |
| Income Tax | $113.11M | - | $109.92M | $86.67M | $62.98M | - | $87.13M | $133.42M | $178.28M | - |
| Net Income | $403.44M | - | $403.69M | $298.73M | $217.15M | - | $317.80M | $428.00M | $584.04M | - |
| EPS - Basic | $2.79 | - | $2.75 | $2.01 | $1.45 | - | $2.06 | $2.73 | $3.68 | - |
| EPS - Diluted | $2.78 | - | $2.74 | $2.01 | $1.44 | - | $2.05 | $2.72 | $3.67 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $556.53M | $769.88M | $770.36M | $458.05M | $1.19B | $589.46M | $1.02B | $829.98M | $1.04B | $1.40B |
| Accounts Receivable | $2.06B | $1.68B | $1.76B | $1.70B | $1.72B | $1.42B | $1.56B | $1.78B | $1.74B | $1.61B |
| Inventory | $3.91B | $3.74B | $3.20B | $3.26B | $3.10B | $3.11B | $3.04B | $3.07B | $3.03B | $2.89B |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $6.80B | $6.48B | $6.08B | $5.69B | $6.22B | $5.43B | $6.44B | $6.24B | $6.60B | $6.79B |
| Total Assets | $16.72B | $16.42B | $15.97B | $15.55B | $15.93B | $14.94B | $15.66B | $15.06B | $15.03B | $14.91B |
| Current Liabilities | $2.17B | $2.12B | $1.96B | $1.82B | $2.27B | $2.15B | $2.69B | $2.66B | $2.30B | $2.33B |
| Long-term Debt | $4.18B | $4.18B | $3.78B | $3.78B | $3.78B | $2.80B | $2.80B | $2.21B | $2.61B | $2.61B |
| Total Liabilities | $7.59B | $7.49B | $6.99B | $6.70B | $7.10B | $5.99B | $6.58B | $5.94B | $5.98B | $6.07B |
| Stockholders' Equity | $9.16B | $8.96B | $9.00B | $8.86B | $8.82B | $8.93B | $9.08B | $9.13B | $9.07B | $8.87B |
| Retained Earnings | $16.02B | $15.69B | $15.50B | $15.17B | $14.94B | $14.80B | $14.66B | $14.41B | $14.06B | $13.55B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $148.32M | - | $722.61M | $301.61M | $152.60M | - | $759.85M | $382.56M | $355.22M | - |
| Investing Cash Flow | ($139.07M) | - | ($120.53M) | ($305.70M) | ($178.76M) | - | ($852.00M) | ($209.59M) | ($292.93M) | - |
| Financing Cash Flow | ($222.76M) | - | ($289.66M) | ($724.78M) | $623.29M | - | $277.37M | ($382.35M) | ($423.85M) | - |
| CapEx | $137.98M | - | $165.69M | $288.33M | $305.51M | - | $621.36M | $419.17M | $374.31M | - |
| Free Cash Flow | $10.34M | - | $556.92M | $13.28M | ($152.90M) | - | $138.50M | ($36.60M) | ($19.09M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 14.7% | - | 15.7% | 13.5% | 11.1% | - | 13.9% | 16.7% | 20.9% | - |
| Operating margin | 10.3% | - | 10.5% | 8.4% | 6.3% | - | 9.1% | 12.1% | 16.0% | - |
| EBITDA margin | 13.4% | - | 13.4% | 11.3% | 9.4% | - | 11.9% | 14.6% | 18.5% | - |
| Net margin | 7.8% | - | 8.4% | 6.5% | 5.0% | - | 7.3% | 9.2% | 12.4% | - |
| Free cash flow margin | 0.2% | - | 11.5% | 0.3% | -3.5% | - | 3.2% | -0.8% | -0.4% | - |
| FCF / Net income | 0.03 | - | 1.38 | 0.04 | -0.70 | - | 0.44 | -0.09 | -0.03 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 3.4% | - | 4.2% | 4.3% | 4.2% | - | 3.4% | 3.0% | 3.4% | - |
| Effective tax rate | 21.9% | - | 21.4% | 22.5% | 22.5% | - | 21.5% | 23.8% | 23.4% | - |
| Return on assets | 2.4% | - | 2.5% | 1.9% | 1.4% | - | 2.0% | 2.8% | 3.9% | - |
| Return on equity | 4.4% | - | 4.5% | 3.4% | 2.5% | - | 3.5% | 4.7% | 6.4% | - |
| Return on invested capital | 3.1% | - | 3.1% | 2.3% | 1.7% | - | 2.6% | 3.8% | 4.9% | - |
| Liquidity | ||||||||||
| Current ratio | 3.13 | 3.06 | 3.11 | 3.13 | 2.74 | 2.53 | 2.39 | 2.35 | 2.87 | 2.91 |
| Quick ratio | 1.33 | 1.29 | 1.47 | 1.34 | 1.38 | 1.08 | 1.26 | 1.19 | 1.55 | 1.67 |
| Cash ratio | 0.26 | 0.36 | 0.39 | 0.25 | 0.52 | 0.27 | 0.38 | 0.31 | 0.45 | 0.60 |
| Leverage | ||||||||||
| Debt / Equity | 0.46 | 0.47 | 0.42 | 0.43 | 0.43 | 0.31 | 0.31 | 0.24 | 0.29 | 0.29 |
| Debt / Assets | 0.25 | 0.25 | 0.24 | 0.24 | 0.24 | 0.19 | 0.18 | 0.15 | 0.17 | 0.18 |
| Debt / EBITDA | 5.99 | - | 5.85 | 7.33 | 9.24 | - | 5.42 | 3.27 | 3.02 | - |
| Interest coverage | 16.2x | - | 37.4x | 22.0x | 23.0x | - | 21.5x | 44.0x | 62.7x | - |
| Equity multiplier | 1.82 | 1.83 | 1.77 | 1.75 | 1.81 | 1.67 | 1.72 | 1.65 | 1.66 | 1.68 |
| Liabilities / Assets | 0.45 | 0.46 | 0.44 | 0.43 | 0.45 | 0.40 | 0.42 | 0.39 | 0.40 | 0.41 |
| Efficiency | ||||||||||
| Asset turnover | 0.31 | - | 0.30 | 0.29 | 0.27 | - | 0.28 | 0.31 | 0.31 | - |
| Inventory turnover | 1.14 | - | 1.27 | 1.21 | 1.25 | - | 1.23 | 1.26 | 1.23 | - |
| Days sales outstanding | 144d | - | 133d | 136d | 144d | - | 132d | 140d | 135d | - |
| Days inventory outstanding | 321d | - | 287d | 302d | 291d | - | 297d | 291d | 298d | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 64.7x | - | 50.9x | 63.7x | 86.9x | - | 61.5x | 47.6x | 40.4x | - |
| P / B | 2.9x | - | 2.3x | 2.2x | 2.1x | - | 2.1x | 2.2x | 2.6x | - |
| P / S | 5.0x | - | 4.3x | 4.2x | 4.3x | - | 4.5x | 4.4x | 5.0x | - |
| EV / EBITDA | 42.7x | - | 36.5x | 43.4x | 52.5x | - | 41.2x | 32.2x | 29.1x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 19.1% | - | 11.2% | -1.5% | -6.9% | - | -5.4% | -8.8% | -4.1% | - |
| Revenue CAGR (3y) | 2.1% | - | -5.1% | -9.8% | -7.8% | - | -5.2% | 1.2% | 9.8% | - |
| Revenue CAGR (5y) | 8.0% | - | 15.7% | 16.9% | 11.2% | - | 11.4% | 10.8% | 10.7% | - |
| Gross profit growth (YoY) | 56.9% | - | 25.2% | -20.2% | -50.4% | - | -36.4% | -40.7% | -7.1% | - |
| Operating income growth (YoY) | 95.5% | - | 28.4% | -31.5% | -63.4% | - | -46.1% | -47.4% | -10.1% | - |
| Net income growth (YoY) | 85.8% | - | 27.0% | -30.2% | -62.8% | - | -44.9% | -64.6% | -8.4% | - |
| EPS growth (YoY) | 93.1% | - | 33.7% | -26.1% | -60.8% | - | -40.9% | -43.5% | -0.8% | - |
| EPS CAGR (3y) | -9.1% | - | -18.3% | -32.2% | -36.8% | - | -25.0% | -6.4% | 21.8% | - |
| EPS CAGR (5y) | 6.5% | - | 42.3% | 41.1% | 10.4% | - | 24.3% | 25.6% | 32.2% | - |
| FCF growth (YoY) | - | - | 302.1% | - | -700.8% | - | -75.1% | - | - | - |
| FCF CAGR (5y) | - | - | - | -40.4% | - | - | -13.7% | - | - | - |
| Book value growth (YoY) | 3.9% | 0.3% | -1.0% | -2.9% | -2.7% | 0.8% | 2.1% | 4.9% | 8.8% | 9.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.81B totalMetals Recycling Operations$2.30B · 82.0%
Steel Operations$390.80M · 13.9%
Aluminum Operations$112.79M · 4.0%
Corporate And Other$1.48M · 0.1%
Steel Fabrication Operations$776.0K · 0.0%
Geographic
$13.02B totalUS$12.49B · 95.9%
Non Us$529.48M · 4.1%
Peer comparison
Same SIC group: Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Comparing STEEL DYNAMICS INC against the 5 most active filers in the same SIC group.
Dividends
$2.03/share trailing 12 months · +8.0% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.5300 |
| Dec 31, 2025 | $0.5000 |
| Sep 30, 2025 | $0.5000 |
| Jun 30, 2025 | $0.5000 |
| Mar 31, 2025 | $0.5000 |
| Dec 31, 2024 | $0.4600 |
| Sep 30, 2024 | $0.4600 |
| Jun 28, 2024 | $0.4600 |
| Mar 27, 2024 | $0.4600 |
| Dec 28, 2023 | $0.4250 |
| Sep 28, 2023 | $0.4250 |
| Jun 29, 2023 | $0.4250 |
| Mar 30, 2023 | $0.4250 |
| Dec 29, 2022 | $0.3400 |
| Sep 29, 2022 | $0.3400 |
| Jun 29, 2022 | $0.3400 |
| Mar 30, 2022 | $0.3400 |
| Dec 30, 2021 | $0.2600 |
| Sep 29, 2021 | $0.2600 |
| Jun 29, 2021 | $0.2600 |
| Mar 30, 2021 | $0.2600 |
| Dec 30, 2020 | $0.2500 |
| Sep 29, 2020 | $0.2500 |
| Jun 29, 2020 | $0.2500 |