Monday 2 November 2026 Export STLD’s income statement to Excel — free account

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%

Follow STLD

Alert me

Market cap: $35.7B
P/E: 18.5×
Fwd P/E: 14.2×
Dividend yield: 0.83%
F-score: 5/9
Altman Z: 5.03
Beneish M: −2.40
Dividend safety: 71/100

Overview Business Profile Segments Filings

Steel Dynamics, Inc. (STLD) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by regions, and margins
U.S.	17,022	93.65%
Non-U.S.	1,154	6.35%
Gross margin		13.16%
Operating margin		8.12%
Pre-tax margin		8.21%

Revenue by segment $m

Line	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Steel Operations	9,263 78.49%	7,175 76.63%	5,871 77.18%	5,422 71.40%	5,822 66.49%	4,685 63.54%	4,701 64.49%	5,070 63.40%	4,000 63.48%	2,607 65.85%
Metals Recycling Operations	3,202 27.13%	2,813 30.04%	2,172 28.55%	2,338 30.78%	3,539 40.42%	3,275 44.42%	—	—	—	—
Steel Fabrication Operations	922 7.81%	824 8.80%	704 9.25%	673 8.87%	632 7.22%	440 5.96%	371 5.09%	276 3.46%	177 2.82%	158 3.99%
Corporate and Other	429 3.64%	376 4.01%	277 3.64%	315 4.15%	469 5.35%	299 4.06%	87 1.20%	105 1.31%	88 1.40%	57 1.44%
Metals Recycling And Ferrous Resources Operations	—	—	—	—	—	—	3,612 49.54%	4,153 51.92%	3,179 50.45%	1,682 42.49%
Intersegment Eliminations	—	—	—	—	—	—	—	—	(1,144) (18.15%)	(545) (13.77%)
Eliminations	(2,015) (17.07%)	(1,824) (19.48%)	(1,416) (18.61%)	(1,154) (15.20%)	(1,705) (19.47%)	(1,326) (17.98%)	(1,482) (20.32%)	(1,607) (20.09%)	—	—
Revenue	11,802	9,364	7,607	7,594	8,756	7,373	7,290	7,998	6,301	3,959

Operating income by segment $m, and margin

	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Steel Operations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Metals Recycling Operations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Steel Fabrication Operations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Metals Recycling And Ferrous Resources Operations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intersegment Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2015	FY2014	FY2013	FY2012	FY2011
U.S.	17,022 93.65%	16,076 91.65%	16,968 90.28%	20,852 93.67%	17,291 93.93%	9,089 94.80%	9,928 94.99%	7,140 94.02%	8,273 94.48%	6,956 94.34%	6,851 93.98%	7,519 94.02%
Non-U.S.	1,154 6.35%	1,465 8.35%	1,828 9.72%	1,409 6.33%	1,118 6.07%	512 5.34%	537 5.14%	455 5.98%	483 5.52%	417 5.66%	439 6.02%	478 5.98%
Revenue	18,177	17,540	18,795	22,261	18,409	9,588	10,451	7,594	8,756	7,373	7,290	7,998

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Aluminum flat rolled finished product shipments	Q3 FY2026	55.0K	—	—
Average external sales price	Q2 FY2026	$1,298.00	—	—
Average ferrous cost	Q2 FY2026	$412.00	—	—
Average sales price	Q2 FY2026	$2,442.00	—	—
Engineered Bar Products Division shipments	Q3 FY2026	221.5K	177.9K	+24.54%
External ferrous shipments	Q3 FY2026	567.0K	538.0K	+5.38%
External Shipments	Q3 FY2026	3.1M	3.2M	−1.75%
Ferrous shipments	Q3 FY2026	1.7M	1.6M	+7.04%
Flat Roll shipments — Butler, Columbus, and Sinton	Q3 FY2026	2.0M	2.1M	−5.47%
Nonferrous shipments	Q3 FY2026	201.7M	242.8M	−16.94%
Order backlog	Q3 FY2026	50.0%	—	—
Roanoke Bar Division shipments	Q3 FY2026	170.2K	158.0K	+7.73%
Shipments	Q3 FY2026	190.2K	151.6K	+25.46%
Steel Mill Production	Q3 FY2026	3.1M	3.1M	+0.67%
Steel of West Virginia shipments	Q3 FY2026	97.9K	102.0K	−4.05%
Steel Processing divisions shipments	Q3 FY2026	743.3K	543.7K	+36.70%
Structural and Rail Division shipments	Q3 FY2026	527.4K	490.4K	+7.55%
Total Shipments	Q3 FY2026	3.8M	3.6M	+4.74%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Aluminum flat rolled finished product shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average external sales price	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average ferrous cost	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average sales price	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Engineered Bar Products Division shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
External ferrous shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
External Shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Ferrous shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Flat Roll shipments — Butler, Columbus, and Sinton	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Nonferrous shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Order backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Roanoke Bar Division shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Steel Mill Production	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Steel of West Virginia shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Steel Processing divisions shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Structural and Rail Division shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total Shipments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.