Steel Dynamics Inc (STLD) Financial Statements
Industry: Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
In fiscal 2025, Steel Dynamics reported revenue of $18.18B, up 3.6% from $17.54B the year before. Net income was $1.19B (a 6.5% net margin), or $7.99 per diluted share. Gross margin was 13.2% and operating margin was 8.1%. Operating activities generated $1.45B of cash, leaving $501.5M of free cash flow. At fiscal year end, Steel Dynamics held $16.42B in total assets against $7.49B in total liabilities, including $769.9M of cash and equivalents.
Open the full interactive Steel Dynamics financials → Quarterly statements, key ratios, valuation history and price charts.
Steel Dynamics Key Stats
| Share Price | $240.63 |
|---|---|
| Market Cap | $34.79B |
| P/E Ratio | 30.1 |
| Revenue YoY Growth | +3.6% |
| 52-Week Range | $141.14 – $281.45 |
| Shares Outstanding | 144.0 million (basic, 2026 Q2) |
Steel Dynamics Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $9.60B | $18.41B | $22.26B | $18.80B | $17.54B | $18.18B |
| Cost of Goods Sold | $8.17B | $13.05B | $16.14B | $14.75B | $14.74B | $15.78B |
| Gross Profit | $1.43B | $5.36B | $6.12B | $4.05B | $2.80B | $2.39B |
| Operating Income | $847.1M | $4.30B | $5.09B | $3.15B | $1.94B | $1.48B |
| Pre-Tax Income | $705.5M | $4.21B | $5.02B | $3.22B | $1.98B | $1.49B |
| Income Tax | $134.7M | $962.3M | $1.14B | $751.6M | $432.9M | $305.7M |
| Net Income | $550.8M | $3.21B | $3.86B | $2.45B | $1.54B | $1.19B |
| Diluted EPS | $2.59 | $15.56 | $20.92 | $14.64 | $9.84 | $7.99 |
Steel Dynamics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $4.83B | $4.41B | $5.20B | $6.09B |
| Net Income | $403.7M | $266.0M | $403.4M | $534.1M |
| Diluted EPS | $2.74 | $1.79 | $2.78 | $3.69 |
Steel Dynamics Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.37B | $1.24B | $1.63B | $1.40B | $589.5M | $769.9M |
| Current Assets | $4.26B | $6.90B | $7.64B | $6.79B | $5.43B | $6.48B |
| Total Assets | $9.27B | $12.53B | $14.16B | $14.91B | $14.94B | $16.42B |
| Current Liabilities | $1.26B | $2.23B | $2.03B | $2.33B | $2.15B | $2.12B |
| Total Long-Term Debt | $3.10B | $3.11B | $3.07B | $3.07B | $3.23B | $4.21B |
| Total Liabilities | $4.92B | $6.21B | $6.06B | $6.07B | $5.99B | $7.49B |
| Shareholders' Equity | $4.35B | $6.30B | $8.13B | $8.87B | $8.93B | $8.96B |
Steel Dynamics Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $987.0M | $2.20B | $4.46B | $3.52B | $1.84B | $1.45B |
| Cash From Investing | -$993.3M | -$999.4M | -$1.88B | -$1.97B | -$1.30B | -$975.0M |
| Cash From Financing | -$7.0M | -$1.33B | -$2.20B | -$1.78B | -$1.35B | -$294.3M |
| Free Cash Flow | -$211.0M | $1.20B | $3.55B | $1.86B | -$23.5M | $501.5M |
Figures from Steel Dynamics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Steel Dynamics financials page for every line item.
Steel Dynamics Company Profile
| Ticker | STLD |
|---|---|
| Exchange | Nasdaq |
| Industry | Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) |
| Headquarters | Fort Wayne, Indiana |
| Incorporated in | Indiana |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001022671 |
Frequently Asked Questions
What was Steel Dynamics' revenue in fiscal 2025?
Steel Dynamics (STLD) reported revenue of $18.18B for fiscal 2025.
What is Steel Dynamics' annual revenue history?
Steel Dynamics' annual revenue by fiscal year: 2020: $9.60B; 2021: $18.41B; 2022: $22.26B; 2023: $18.80B; 2024: $17.54B; 2025: $18.18B.
What was Steel Dynamics' net income in fiscal 2025?
Steel Dynamics reported net income of $1.19B for fiscal 2025.
What was Steel Dynamics' earnings per share (EPS) in fiscal 2025?
Steel Dynamics' diluted EPS was $7.99 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Steel Dynamics generate in fiscal 2025?
Steel Dynamics generated $501.5M of free cash flow in fiscal 2025.
What was Steel Dynamics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Steel Dynamics reported revenue of $6.09B.
How much debt does Steel Dynamics have?
Steel Dynamics reported $4.21B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Steel Dynamics are outstanding?
Steel Dynamics reported a weighted average of 144.0 million basic shares outstanding in 2026 Q2.
What is Steel Dynamics' market cap?
Based on its latest closing price, Steel Dynamics (STLD) has a market capitalization of about $34.79B.
When does Steel Dynamics' fiscal year end?
Steel Dynamics' fiscal year end, as registered with the SEC, is December 31.
Where is Steel Dynamics headquartered?
Steel Dynamics lists its business address in Fort Wayne, Indiana in its SEC filings.