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Steel Dynamics, Inc.

Steel Dynamics, Inc.

NASDAQ•STLD
CEO: Mr. Mark D. Millett
Sector: Basic Materials
Industry: Steel
Listing Date: 1996-11-22
Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products. This segment also engages in turning, polishing, straightening, chamfering, precision saw-cutting, and heat treating of bar products. Its products are used in construction, automotive, manufacturing, transportation, heavy and agriculture equipment, and pipe and tube markets. The Metals Recycling Operations segment is involved in the ferrous and nonferrous scrap metal processing, transportation, marketing, brokerage, and scrap management services. Its ferrous products include heavy melting steel, busheling, bundled scrap, shredded scrap, steel turnings, and cast-iron products; and nonferrous products comprise aluminum, brass, copper, stainless steel, and other nonferrous metals. The Steel Fabrication Operations segment produces steel non-residential building components, such as steel joists, girders, trusses, and steel deck products for non-residential steel fabricators, metal building companies, general construction contractors, developers, owners, brokers, and governmental entities, as well as e-commerce warehouses, data centers, metal buildings, and education and commercial building projects. The Aluminum Operations segment offers recycled aluminum flat rolled products. The company also exports its products. Steel Dynamics, Inc. was founded in 1993 and is headquartered in Fort Wayne, Indiana.
Contact Information
7575 West Jefferson Boulevard, Fort Wayne, IN, 46804, United States
260-969-3500
www.steeldynamics.com
Market Cap
$25.12B
P/E (TTM)
22.4
22.5
Dividend Yield
1.1%
52W High
$174.31
52W Low
$103.17
52W Range
97%
Rank35Top 21.9%
5.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$4.83B+11.21%
4-Quarter Trend

EPS

$2.75+33.50%
4-Quarter Trend

FCF

$556.92M+302.11%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Operating Income Surges 28% Consolidated operating income reached $507.8M for Q3 2025, increasing 28% compared to Q3 2024 due to expanded metal spreads.
Net Income Attributable Rises Net income attributable to Steel Dynamics, Inc. was $403.7M, marking a 27% increase over the prior year's third quarter results.
Record Steel Shipments Achieved Steel Operations segment recorded Q3 shipments of 3.265M tons, representing a 14% increase compared to the same period last year.
Strong EPS Performance Diluted earnings per share for the quarter reached $2.74 USD, showing significant improvement from $2.05 USD in Q3 2024.

Risk Factors

Fabrication Sales Decline Steel Fabrication net sales dropped 16% in Q3 2025 due to a 12% decrease in average selling prices and lower volumes.
Fabrication Profit Compression Fabrication operating income decreased 35% to $107.0M, driven by a 17% contraction in metal spread during the quarter.
Overcapacity and Price Volatility Forward risks include global steelmaking overcapacity, increased scrap prices, and volatility in energy resource costs.
Other Segment Losses Widen Other segment operating loss widened to $(56.5M) due to ongoing construction, start-up, and commissioning costs in 2025.

Outlook

Aluminum Operations Expansion Aluminum segment mill nearing completion; volume expected to increase steadily as commissioning and ramp-up activities continue.
Liquidity Supports Capital Needs Total liquidity stands at $2.207B USD; YTD capital investment of $759.5M is sufficient for planned 2025 requirements.
Shareholder Return Focus Quarterly dividend increased 9% to $0.50 per share; $1.0B USD remains available under the authorized share repurchase program.
Debt Structure Update Total outstanding debt is $3.8B USD following March 2025 note issuance; debt to capitalization ratio is 29.7%.

Peer Comparison

Revenue (TTM)

POSCO Holdings Inc.PKX
$49.83B
-4.7%
Nucor CorporationNUE
$31.88B
+1.7%
Nutrien Ltd.NTR
$26.56B
+0.0%

Gross Margin (Latest Quarter)

PPG Industries, Inc.PPG
40.6%
-1.2pp
Nutrien Ltd.NTR
30.4%
+1.7pp
Reliance, Inc.RS
28.3%
+0.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
NUE$37.79B23.18.1%19.7%
NTR$30.73B22.55.5%25.6%
STLD$25.12B22.412.7%23.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
7.6%
Steady Growth
4Q Net Income CAGR
24.9%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 28, 2026
|
EPS:$2.31
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 24, 2025|
    Revenue: $4.83B+11.2%
    |
    EPS: $2.75+33.5%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 11, 2025|
    Revenue: $4.57B-1.5%
    |
    EPS: $2.00-26.7%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 12, 2025|
    Revenue: $4.37B-6.9%
    |
    EPS: $1.45-60.6%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 28, 2025|
    Revenue: $17.54B-6.7%
    |
    EPS: $9.89-32.8%
    Meet
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $4.34B-5.4%
    |
    EPS: $2.06-41.0%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $4.63B-8.8%
    |
    EPS: $2.73-43.5%
    Meet
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 10, 2024|
    Revenue: $4.69B-4.1%
    |
    EPS: $3.68-0.8%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $18.80B-15.6%
    |
    EPS: $14.72-30.1%
    Meet