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Monday 2 November 2026
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Steel Dynamics, Inc.
STLD Basic Materials Steel
Steel Dynamics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.2 billion, up 3.63% from fiscal 2024.
- Revenue
- +34.8%
- EPS
- +92.4%
- Free cash flow
- +25.0%
- Total debt
- +11.1%
Quarter to September 2026, against a year earlier
252.35
1.55
+0.62%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
23.06 | 13.23 | 5.58 | 11.20 | 14.13 | 3.93 | 4.55 | 8.11 | 11.60 | 21.08 |
Piotroski F-Score |
7 | 6 | 8 | 5 | 5 | 7 | 6 | 5 | 4 | 5 |
P/S ratio |
1.13 | 1.13 | 0.59 | 0.71 | 0.81 | 0.69 | 0.78 | 1.05 | 1.01 | 1.38 |
Altman Z-Score |
3.91 | 4.65 | 4.53 | 3.91 | 3.37 | 5.11 | 6.08 | 5.48 | 4.98 | 5.03 |
Altman Z″-Score (non-manufacturers) |
4.95 | 5.86 | 6.75 | 6.06 | 5.28 | 7.77 | 8.96 | 7.80 | 7.04 | 6.67 |
P/FCF ratio |
13.47 | 18.75 | 5.98 | 7.92 | 0.00 | 10.63 | 4.91 | 10.64 | 0.00 | 49.94 |
Beneish M-Score |
(2.93) | (2.26) | (2.44) | (2.86) | (2.60) | (1.53) | (2.39) | (2.83) | (2.53) | (2.40) |
P/Operating CF |
42.53 | 56.07 | 14.31 | 18.28 | 56.43 | 17.59 | 15.26 | 22.91 | 51.11 | 91.84 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 71 |
P/B ratio |
3.18 | 3.37 | 1.86 | 1.91 | 1.86 | 2.08 | 2.21 | 2.28 | 2.02 | 2.85 |
Price to Tangible BV |
4.20 | 4.22 | 2.28 | 2.38 | 2.28 | 2.38 | 2.44 | 2.50 | 2.20 | 3.14 |
EV/Sales |
1.33 | 1.27 | 0.71 | 0.82 | 0.99 | 0.79 | 0.82 | 1.10 | 1.15 | 1.57 |
EV/EBITDA |
10.09 | 8.88 | 4.09 | 6.55 | 8.12 | 3.14 | 3.34 | 5.78 | 8.35 | 14.05 |
EV/Operating CF |
12.12 | 16.40 | 5.90 | 6.14 | 9.64 | 6.62 | 4.10 | 5.90 | 10.96 | 19.65 |
EV/FCF |
15.79 | 21.11 | 7.10 | 9.07 | (45.11) | 12.18 | 5.14 | 11.15 | (860.42) | 56.80 |
Quick Ratio |
2.20 | 2.18 | 2.06 | 2.47 | 1.86 | 1.42 | 2.12 | 1.60 | 1.00 | 1.16 |
Current Ratio |
4.11 | 4.04 | 3.96 | 4.22 | 3.38 | 3.10 | 3.76 | 2.91 | 2.53 | 3.06 |
Net Debt/EBITDA |
1.48 | 0.99 | 0.65 | 0.83 | 1.48 | 0.40 | 0.15 | 0.26 | 1.03 | 1.70 |
Debt/Assets |
36.69% | 34.74% | 30.85% | 33.04% | 33.49% | 24.79% | 21.68% | 20.60% | 21.63% | 25.65% |
Debt/Equity |
0.85 | 0.75 | 0.63 | 0.70 | 0.74 | 0.51 | 0.39 | 0.35 | 0.37 | 0.48 |
Asset Turnover |
1.23 | 1.44 | 1.62 | 1.31 | 1.09 | 1.69 | 1.67 | 1.29 | 1.18 | 1.16 |
Operating CF/Net income |
2.23 | 0.91 | 1.12 | 2.08 | 1.79 | 0.69 | 1.15 | 1.44 | 1.20 | 1.22 |
Capex/Depreciation |
(0.67) | (0.55) | (0.75) | (1.41) | (3.68) | (2.89) | (2.37) | (3.79) | (3.90) | (1.72) |
Interest Coverage |
4.98 | 7.94 | 13.60 | 7.76 | 8.93 | 75.18 | 55.63 | 41.20 | 34.48 | 21.07 |
| 14.36% | 27.22% | 36.10% | 17.44% | 13.58% | 62.42% | 55.09% | 29.56% | 17.63% | 13.50% | |
| 6.05% | 12.24% | 17.29% | 8.40% | 6.28% | 29.49% | 28.94% | 16.86% | 10.30% | 7.56% | |
ROIC |
10.60% | 14.66% | 21.13% | 12.31% | 8.94% | 33.73% | 36.46% | 20.48% | 10.78% | 7.54% |
Return on Tangible Assets |
7.64% | 15.29% | 21.12% | 10.52% | 7.75% | 34.10% | 35.18% | 21.90% | 13.49% | 9.17% |
Average Days of Receivables |
34.25 | 33.25 | 32.23 | 29.45 | 36.95 | 38.00 | 33.71 | 31.23 | 29.49 | 33.79 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
4.81% | 4.14% | 3.52% | 4.17% | 4.97% | 3.50% | 2.45% | 3.13% | 3.79% | 4.21% |
Intangible Assets out of Total Assets |
0.11 | 0.09 | 0.09 | 0.09 | 0.08 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 |
Share Based Compensation of Revenue |
0.41% | 0.38% | 0.37% | 0.46% | 0.58% | 0.31% | 0.27% | 0.33% | 0.38% | 0.38% |
Graham Net Nets |
(0.08) | (0.01) | 0.02 | (0.01) | (0.10) | 0.04 | 0.08 | 0.03 | (0.04) | (0.05) |
Graham Number |
20.07 | 31.86 | 44.20 | 34.95 | 34.14 | 102.93 | 142.56 | 131.02 | 111.74 | 103.72 |
Earnings Yield |
4.34% | 7.56% | 17.91% | 8.93% | 7.08% | 25.47% | 21.99% | 12.33% | 8.62% | 4.74% |
Free Cash Flow Yield |
7.42% | 5.33% | 16.74% | 12.63% | (2.71%) | 9.41% | 20.35% | 9.40% | (0.13%) | 2.00% |
Revenue per Share |
31.93 | 39.72 | 50.54 | 47.65 | 45.47 | 89.75 | 121.38 | 112.85 | 112.86 | 122.98 |
Operating CF per Share |
3.50 | 3.08 | 6.05 | 6.36 | 4.67 | 10.75 | 24.32 | 21.13 | 11.87 | 9.81 |
Capex per Share |
(0.81) | (0.69) | (1.02) | (2.06) | (5.67) | (4.91) | (4.96) | (9.95) | (12.02) | (6.41) |
Free Cash Flow per Share |
2.69 | 2.39 | 5.03 | 4.30 | (1.00) | 5.84 | 19.37 | 11.18 | (0.15) | 3.39 |
Cash per Share |
3.45 | 4.28 | 4.52 | 7.48 | 6.48 | 6.06 | 12.30 | 12.74 | 4.74 | 5.21 |
Shareholders Equity per Share |
11.40 | 13.31 | 16.14 | 17.85 | 19.84 | 29.78 | 43.15 | 52.05 | 56.45 | 59.46 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
11.40 | 13.31 | 16.14 | 17.85 | 19.84 | 29.78 | 43.15 | 52.05 | 56.45 | 59.46 |
Free Cash Flow |
654.60 | 574.49 | 1,176.08 | 944.35 | (211.02) | 1,197.90 | 3,551.50 | 1,862.02 | (23.50) | 501.51 |
Working Capital |
2,216.86 | 2,639.82 | 3,013.52 | 3,246.33 | 2,999.66 | 4,673.65 | 5,605.72 | 4,455.53 | 3,280.76 | 4,361.92 |
Capital Expenditures |
(198.16) | (164.93) | (239.39) | (451.94) | (1,198.05) | (1,006.24) | (908.90) | (1,657.90) | (1,868.01) | (948.02) |
Net Current Asset Value |
(716.60) | (152.32) | 105.08 | (101.50) | (817.50) | 478.55 | 1,392.34 | 547.72 | (729.86) | (1,146.42) |
EV/EBIT |
14.20 | 11.37 | 4.85 | 8.68 | 11.24 | 3.39 | 3.59 | 6.59 | 10.41 | 19.30 |
Capex to Sales |
0.03 | 0.02 | 0.02 | 0.04 | 0.12 | 0.05 | 0.04 | 0.09 | 0.11 | 0.05 |
Price to Operating Income |
12.12 | 10.10 | 4.08 | 7.58 | 9.19 | 2.96 | 3.43 | 6.28 | 9.12 | 16.97 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.11 | 0.11 | 0.11 | 0.10 | 0.08 | 0.07 | 0.07 | 0.07 | 0.06 | 0.06 |
Cash ROIC |
10.95% | 8.70% | 16.31% | 11.38% | (2.44%) | 11.45% | 26.82% | 13.43% | (0.18%) | 3.64% |
Accounts Receivable Turnover |
11.58 | 11.93 | 12.36 | 11.09 | 10.57 | 12.75 | 11.21 | 10.26 | 11.60 | 11.73 |
Accounts Payable Turnover |
18.99 | 17.99 | 18.26 | 16.79 | 12.73 | 12.73 | 14.05 | 14.01 | 14.25 | 14.28 |
Inventory Turnover |
5.31 | 5.69 | 5.62 | 5.04 | 4.62 | 4.85 | 4.85 | 4.90 | 4.91 | 4.61 |
Average Days of Payables |
22.39 | 22.45 | 21.16 | 20.97 | 34.39 | 35.83 | 23.00 | 26.93 | 24.27 | 28.47 |
Days of Inventory on Hand |
72.25 | 69.70 | 71.44 | 69.01 | 82.39 | 98.79 | 70.77 | 71.63 | 77.12 | 86.45 |
Average Receivables |
671.69 | 799.31 | 956.30 | 944.05 | 908.13 | 1,444.18 | 1,986.24 | 1,832.18 | 1,512.75 | 1,549.93 |
Average Payables |
339.28 | 442.32 | 520.10 | 532.05 | 641.40 | 1,025.01 | 1,148.90 | 1,052.78 | 1,034.12 | 1,105.64 |
Average Inventory |
1,212.30 | 1,397.28 | 1,689.26 | 1,774.11 | 1,766.30 | 2,687.34 | 3,330.55 | 3,012.30 | 3,004.18 | 3,426.12 |
Average Assets |
6,312.91 | 6,639.73 | 7,279.65 | 7,989.66 | 8,770.66 | 10,898.40 | 13,345.61 | 14,534.20 | 14,921.83 | 15,677.51 |
Average Common Equity |
2,661.29 | 2,986.26 | 3,485.53 | 3,848.62 | 4,055.43 | 5,149.18 | 7,011.53 | 8,291.31 | 8,721.17 | 8,781.61 |
Columns are period end dates · fundamentals updated 2 Nov 2026