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Tuesday 13 October 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. In the quarter to June 2026, revenue grew 33.4%, EPS grew 84.6%, free cash flow grew 2,189.9% and total debt rose 10.6%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

238.63 0.51 −0.21%
Market cap
$34.3B
P/E
21.6×
Fwd P/E
17.8×
Dividend yield
0.87%
F-score
5/9
Altman Z
5.03
Beneish M
−2.40
Dividend safety
71/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 7.57
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — 2 2 1 — — — —
Insider Ownership 7.23%

Capital & Financial Ratios $m

Market Cap 34,280.00
Revenue 20,538.68
Net Income 1,599.33
Free Cash Flow 955.56
Net Debt 3,614.43
Current Ratio 3.18 (at or above 1.5: strong)
Debt/Equity 0.45 (at or below 0.5: strong)
P/E ratio 21.58
Fwd P/E 17.80
P/S ratio 1.68
P/B ratio 3.73
Past 5Y EPS Growth 25.27% (at or above 15%: strong)
This Y EPS Growth 120.08% (at or above 15%: strong)
Next Y EPS Growth 20.45% (at or above 15%: strong)
Next Y revenue growth 30.88% (at or above 10%: strong)
Next 5Y EPS Growth 32.64% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.9×, against a ten-year median of 1.1×; over the ten years it ranged from 0.6× in 2019 to 2.2× in 2026.
P/E against its own 10 years 87.43%
10-year low 10-year high
P/S against its own 10 years 97.19%
10-year low 10-year high
P/B against its own 10 years 97.75%
10-year low 10-year high
EV/Sales against its own 10 years 97.16%
10-year low 10-year high
EV/FCF against its own 10 years 88.01%
10-year low 10-year high

Dividends

Payout Ratio 0.19
Annual Dividend Rate 2.09
Annual Dividend Yield 0.87%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.12
0.53
0.53
0.53
2025 2.00
0.50
0.50
0.50
0.50
2024 1.84
0.46
0.46
0.46
0.46
2023 1.70
0.43
0.43
0.43
0.43
2022 1.70
0.34
0.34
0.34
0.34
0.34
2021 1.04
0.26
0.26
0.26
0.26
2020 1.00
0.25
0.25
0.25
0.25
2019 0.96
0.24
0.24
0.24
0.24
2018 0.75
0.19
0.19
0.19
0.19
2017 0.62
0.16
0.16
0.16
0.16
2016 0.56
0.14
0.14
0.14
0.14
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,122 737 770 568
Receivables 1,608 1,417 1,683 2,443
Inventory 2,895 3,114 3,739 3,956
Other 163 163 293 315
6,788 5,431 6,484 7,281
2023 2024 2025 Q'26
Payables 1,088 980 1,231 1,484
ST’ Debt 460 427 35 1
Other — — — —
2,332 2,151 2,122 2,287

Compound Annual Growth %

10y 5y 3y
Sales 9.12% 13.61% (6.53%)
Cash Flow 3.24% 7.99% (31.25%)
Earnings 0.00% 16.57% (32.54%)
Book Value 13.19% 15.97% 3.56%

Revenue $m

Mar Jun Sep Dec Year
’26 5,205 6,092 — — —
’25 4,369 4,565 4,828 4,414 18,177
’24 4,694 4,633 4,342 3,872 17,540
’23 4,893 5,082 4,587 4,233 18,795
’22 5,570 6,213 5,652 4,826 22,261
’21 3,545 4,465 5,088 5,311 18,409
’20 2,575 2,094 2,331 2,601 9,601
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 148 428 — — —
’25 153 302 723 273 1,450
’24 355 383 760 347 1,845
’23 734 808 1,114 865 3,520
’22 819 1,002 1,496 1,143 4,460
’21 262 587 631 724 2,204
’20 211 486 152 138 987
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 10 304 — — —
’25 (153) 13 557 84 502
’24 (19) (37) 138 (106) (24)
’23 507 450 555 350 1,862
’22 660 838 1,255 799 3,552
’21 (48) 310 416 519 1,198
’20 (6) 176 (176) (205) (211)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.78 3.69 — — —
’25 1.44 2.01 2.74 1.82 7.99
’24 3.67 2.72 2.05 1.36 9.84
’23 3.70 4.81 3.47 2.61 14.64
’22 5.71 6.44 5.03 3.61 20.92
’21 2.03 3.32 4.85 5.49 15.56
’20 0.88 0.36 0.47 0.89 2.59
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 15.32 32.15 28.91 25.03 14.98 33.77 50.54 90.55 104.60 103.17

Analyst estimates 2026–2028

Powerpack
High 40.17 43.89 52.10 39.35 40.22 74.37 113.12 136.46 155.56 178.36
People
People Employees 7,695 7,635 8,200 8,385 9,625 10,640 12,060 12,600 13,000 14,400
Revenue/emp, $m 1.01 1.25 1.44 1.25 1.00 1.73 1.85 1.49 1.35 1.26
Income, $m
Income, $m Revenue 7,777 9,539 11,822 10,465 9,601 18,409 22,261 18,795 17,540 18,177
Gross margin, % 17.16 16.59 19.65 14.63 14.94 29.13 27.48 21.53 15.98 13.16
EBT 564 935 1,620 875 705 4,209 5,021 3,219 1,983 1,493
EBT margin, % 7.25 9.80 13.70 8.36 7.35 22.86 22.56 17.13 11.30 8.21
Net income 360 806 1,256 678 571 3,247 3,879 2,467 1,550 1,187
Depreciation 296 299 317 321 326 348 384 438 479 551
Per share, $
Per share, $ Revenue 31.93 39.72 50.54 47.65 45.47 89.75 121.38 112.85 112.86 122.98
Earnings 1.57 3.38 5.38 3.06 2.61 15.67 21.06 14.72 9.89 8.02
Cash flow 3.50 3.08 6.05 6.36 4.67 10.75 24.32 21.13 11.87 9.81
Capex (0.81) (0.69) (1.02) (2.06) (5.67) (4.91) (4.96) (9.95) (12.02) (6.41)
Free cash flow 2.69 2.39 5.03 4.30 (1.00) 5.84 19.37 11.18 (0.15) 3.39
Book value 11.40 13.31 16.14 17.85 19.84 29.78 43.15 52.05 56.45 59.46
Shares, m 244 240 234 220 211 205 183 167 155 148
Valuation, ×
Valuation, × P/E 23.06 13.23 5.58 11.20 14.13 3.93 4.55 8.11 11.60 21.08
P/S 1.13 1.13 0.59 0.71 0.81 0.69 0.78 1.05 1.01 1.38
P/B 3.18 3.37 1.86 1.91 1.86 2.08 2.21 2.28 2.02 2.85
EV/Sales 1.33 1.27 0.71 0.82 0.99 0.79 0.82 1.10 1.15 1.57
EV/FCF 15.79 21.11 7.10 9.07 (45.11) 12.18 5.14 11.15 (860.42) 56.80
Cash, $m
Cash, $m Operating cash flow 853 739 1,415 1,396 987 2,204 4,460 3,520 1,845 1,450
Capex (198) (165) (239) (452) (1,198) (1,006) (909) (1,658) (1,868) (948)
Free cash flow 655 574 1,176 944 (211) 1,198 3,552 1,862 (24) 502
Balance, $m
Balance, $m Working capital 2,217 2,640 3,014 3,246 3,000 4,674 5,606 4,456 3,281 4,362
Total debt 2,357 2,382 2,377 2,734 3,103 3,106 3,071 3,071 3,231 4,211
Net debt 1,515 1,353 1,320 1,091 1,734 1,862 814 949 2,494 3,441
Shareholders’ equity 2,777 3,195 3,776 3,921 4,190 6,109 7,914 8,668 8,774 8,789
Returns, %
Returns, % ROA 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
ROE 14.36 27.22 36.10 17.44 13.58 62.42 55.09 29.56 17.63 13.50
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Steel Dynamics, Inc. vs peers in Steel (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NUE Nucor Corporation $56.8B 20.1× 16.9× +22.95% (above 0%: growing) +94.23% (above 0%: growing) +549.46% (above 0%: growing) 19.56% 15.67% Compare
MT ArcelorMittal $48.3B 26.3× 14.7× +5.24% (above 0%: growing) −61.70% (below 0%: shrinking) −126.60% (below 0%: shrinking) 10.95% 6.29% Compare
STLD Steel Dynamics, Inc. $34.2B 21.6× 17.8× +33.44% (above 0%: growing) +84.58% (above 0%: growing) +2,189.86% (above 0%: growing) 15.74% 11.50%
RS Reliance, Inc. $20.6B 23.2× 20.2× +26.51% (above 0%: growing) +42.57% (above 0%: growing) −45.43% (below 0%: shrinking) 28.09% 9.54% Compare
PKX POSCO Holdings Inc. $17.4B 21.1× — +9.70% (above 0%: growing) +271.43% (above 0%: growing) −156.79% (below 0%: shrinking) 8.62% 4.25% Compare
TX Ternium S.A. $11.4B 16.3× 9.2× +9.97% (above 0%: growing) +59.09% (above 0%: growing) −174.72% (below 0%: shrinking) 21.68% 12.17% Compare
CLF Cleveland-Cliffs Inc. $7.4B — (loss-making) — (loss-making) +5.92% (above 0%: growing) n/m +208.96% (above 0%: growing) 2.53% (0.94%) Compare
GGB Gerdau S.A. $6.3B 22.3× — +14.33% (above 0%: growing) +87.50% (above 0%: growing) +171.99% (above 0%: growing) 15.83% 13.05% Compare
SIM Grupo Simec, S.A. de C.V. $4.8B 22.9× 28.5× +29.60% (above 0%: growing) n/m +51.13% (above 0%: growing) 24.99% 15.91% Compare
Median of peers $14.4B 22.3× 16.9× +12.15% +73.30% +2.85% 17.70% 10.86%

All 21 Steel stocks →

STLD metrics, ten years each

Steel Dynamics, Inc. (STLD) key facts

  • Concern: Net income was $1.2 billion, or $8.02 per share (basic), a net margin of 6.52%.
  • Strength: Steel Dynamics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.2 billion, up 3.63% from fiscal 2024.
  • Steel Dynamics, Inc. (STLD) is a Steel company in the Basic Materials sector, listed on Nasdaq.
  • As of October 12, 2026, STLD traded at $239.14, a market capitalization of $34.3 billion.
  • At that price the stock trades at 21.6× trailing-twelve-month earnings and 1.7× sales; its P/E is higher than 87% of its own readings over the past ten years.
  • Steel Dynamics, Inc. pays an annual dividend of $2.09 per share, a yield of 0.87%, with a payout ratio of 19.0%.
  • Return on equity was 13.5% and debt-to-equity 0.45.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 5.03 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Steel Dynamics, Inc. (STLD) Latest News

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stockrow.com/STLD · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com