A Business at a Glance
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Steel Dynamics, Inc. is a leading industrial metals solutions company, with facilities located throughout the United States and Mexico. The company operates a circular manufacturing model, producing high-quality, lower-carbon-emission products with recycled scrap as the primary input. Steel Dynamics is one of the largest domestic steel producers and metals recyclers in North America based on estimated steelmaking and steel coating capacity of approximately 16 million tons and actual metals recycling volumes as of December 31, 2025, with one of the most diversified product and end market portfolios in the domestic steel industry, combined with a meaningful downstream steel fabrication platform. The company also has aluminum operations, further diversifying its product offerings to supply aluminum flat rolled products with higher recycled content to the countercyclical, sustainable beverage can industry, as well as the automotive and industrial sectors.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 18.2B | 18.2B | 17.5B | 18.8B | 22.3B | 18.4B |
| Net Income | 1.2B | 1.2B | 1.5B | 2.5B | 3.9B | 3.2B |
| EPS | $7.99 | $7.99 | $9.84 | $14.64 | $20.92 | $15.56 |
| Free Cash Flow | 502M | 502M | -24M | 1.9B | 3.6B | 1.2B |
| ROIC | 9.4% | 9.7% | 12.8% | 23.5% | 43.7% | 47.3% |
| Gross Margin | 13.2% | 13.2% | 16.0% | 21.5% | 27.5% | 29.1% |
| Debt/Equity | 0.47 | 0.47 | 0.41 | 0.40 | 0.38 | 0.51 |
| Dividends/Share | $1.96 | $2.00 | $1.84 | $1.70 | $1.36 | $1.04 |
| Operating Income | 1.5B | 1.5B | 1.9B | 3.2B | 5.1B | 4.3B |
| Operating Margin | 8.1% | 8.1% | 11.1% | 16.8% | 22.9% | 23.4% |
| ROE | 13.2% | 13.3% | 17.2% | 27.6% | 47.5% | 51.0% |
| Shares Outstanding | 148M | 148M | 156M | 167M | 185M | 207M |
STEEL DYNAMICS INC passes 7 of 9 quality checks, indicating strong fundamentals.
STEEL DYNAMICS INC trades at 24.5x trailing earnings, compared to its 15-year median P/E of 10.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 56.5x vs a median of 10.2x. The company's 5-year average ROIC is 27.4% with a gross margin of 21.5%. Total shareholder yield (dividends + buybacks) is 4.1%. At current prices, the estimated annualized return to fair value is +12.8%.
STEEL DYNAMICS INC (STLD) has a current P/E ratio of 24.5, compared to its historical median P/E of 10.5. The stock is currently considered Expensive based on its historical valuation range.
STEEL DYNAMICS INC (STLD) has a 5-year average return on invested capital (ROIC) of 27.4%. This indicates strong capital allocation and a potential competitive advantage.
STEEL DYNAMICS INC (STLD) has a market capitalization of $29.0B. It is classified as a large-cap stock.
Yes, STEEL DYNAMICS INC (STLD) pays a dividend with a trailing twelve-month yield of 1.00%. The company also returns capital through share buybacks, with a buyback yield of 3.11%.
Based on historical P/E analysis, STEEL DYNAMICS INC (STLD) appears expensive. The current P/E of 24.5 is 132% above its historical median of 10.5. The estimated fair value CAGR (P/E method) is 23.9%.
STEEL DYNAMICS INC (STLD) operates in the Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) industry, within the Materials sector.
STEEL DYNAMICS INC (STLD) reported annual revenue of $18.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
STEEL DYNAMICS INC (STLD) has a net profit margin of 6.5%. This is a modest margin.
STEEL DYNAMICS INC (STLD) generated $502 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
STEEL DYNAMICS INC (STLD) has a debt-to-equity ratio of 0.47. This indicates a conservatively financed balance sheet.
STEEL DYNAMICS INC (STLD) reported earnings per share (EPS) of $7.99 in its most recent fiscal year.
STEEL DYNAMICS INC (STLD) has a return on equity (ROE) of 13.3%. This indicates moderate shareholder returns.
STEEL DYNAMICS INC (STLD) has a 5-year average gross margin of 21.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for STEEL DYNAMICS INC (STLD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
STEEL DYNAMICS INC (STLD) has a book value per share of $60.36, based on its most recent annual SEC filing.