S

Steel Dynamics, Inc.

STLD · CIK 0001022671

19 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$18.18B3.6%
FY2025
Net income (FY)
$1.19B22.9%
FY2025
Free cash flow (FY)
$501.5M2,233.8%
FY2025
Diluted EPS (FY)
$7.9918.8%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$10B$20BFY2007 · Revenue $4.38B · Net income $394.6M · 0001047469-10-001104 · filed 2010-02-22FY07Revenue $4.38BNet income $394.6M0001047469-10-001104 · filed 2010-02-22FY2008 · Revenue $8.08B · Net income $463.4M · 0001047469-11-001181 · filed 2011-02-23FY08Revenue $8.08BNet income $463.4M0001047469-11-001181 · filed 2011-02-23FY2009 · Revenue $3.96B · Net income −$8.2M · 0001047469-12-001586 · filed 2012-02-27 · 0001047469-11-001181 · filed 2011-02-23FY09Revenue $3.96BNet income −$8.2M0001047469-12-001586 · filed 2012-02-27 · 0001047469-11-001181 · filed 2011-02-23FY2010 · Revenue $6.30B · Net income $140.7M · 0001047469-13-001827 · filed 2013-02-27 · 0001047469-11-001181 · filed 2011-02-23FY10Revenue $6.30BNet income $140.7M0001047469-13-001827 · filed 2013-02-27 · 0001047469-11-001181 · filed 2011-02-23FY2011 · Revenue $8.00B · 0001047469-14-001662 · filed 2014-03-03FY11Revenue $8.00B0001047469-14-001662 · filed 2014-03-03FY2012 · Revenue $7.29B · 0001047469-15-001486 · filed 2015-03-02FY12Revenue $7.29B0001047469-15-001486 · filed 2015-03-02FY2013 · Revenue $7.37B · 0001047469-16-010496 · filed 2016-02-26FY13Revenue $7.37B0001047469-16-010496 · filed 2016-02-26FY2014 · Revenue $8.76B · 0001144204-17-011732 · filed 2017-02-28FY14Revenue $8.76B0001144204-17-011732 · filed 2017-02-28FY2015 · Revenue $7.59B · 0001144204-18-011155 · filed 2018-02-27FY15Revenue $7.59B0001144204-18-011155 · filed 2018-02-27FY2016 · Revenue $7.61B · 0001144204-19-010579 · filed 2019-02-27FY16Revenue $7.61B0001144204-19-010579 · filed 2019-02-27FY2017 · Revenue $9.36B · 0001558370-20-001641 · filed 2020-02-27FY17Revenue $9.36B0001558370-20-001641 · filed 2020-02-27FY2018 · Revenue $11.80B · 0001558370-21-002129 · filed 2021-03-01FY18Revenue $11.80B0001558370-21-002129 · filed 2021-03-01FY2019 · Revenue $10.45B · 0001558370-22-002377 · filed 2022-02-28FY19Revenue $10.45B0001558370-22-002377 · filed 2022-02-28FY2020 · Revenue $9.59B · 0001558370-23-002303 · filed 2023-02-28FY20Revenue $9.59B0001558370-23-002303 · filed 2023-02-28FY2021 · Revenue $18.41B · Net income $3.21B · 0001558370-24-002152 · filed 2024-02-29FY21Revenue $18.41BNet income $3.21B0001558370-24-002152 · filed 2024-02-29FY2022 · Revenue $22.26B · Net income $3.86B · 0001558370-25-001886 · filed 2025-02-28FY22Revenue $22.26BNet income $3.86B0001558370-25-001886 · filed 2025-02-28FY2023 · Revenue $18.80B · Net income $2.45B · 0001104659-26-021395 · filed 2026-02-27FY23Revenue $18.80BNet income $2.45B0001104659-26-021395 · filed 2026-02-27FY2024 · Revenue $17.54B · Net income $1.54B · 0001104659-26-021395 · filed 2026-02-27FY24Revenue $17.54BNet income $1.54B0001104659-26-021395 · filed 2026-02-27FY2025 · Revenue $18.18B · Net income $1.19B · 0001104659-26-021395 · filed 2026-02-27FY25Revenue $18.18BNet income $1.19B0001104659-26-021395 · filed 2026-02-27FY25Revenue $18.18BNet income $1.19B0001104659-26-021395 · filed 2026-02-27FY07FY10FY13FY16FY19FY22FY25

revenue 4.1× since FY2007 · net margin 9.0% → 6.5%

MarginsNet marginFCF margin
0%10%FY2007 · Net margin 9.0% · FCF margin 0.5%FY07Net margin 9.0%FCF margin 0.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 5.7% · FCF margin 4.4%FY08Net margin 5.7%FCF margin 4.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin -0.2% · FCF margin 2.9%FY09Net margin -0.2%FCF margin 2.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 2.2% · FCF margin 0.6%FY10Net margin 2.2%FCF margin 0.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · FCF margin 4.0%FY11FCF margin 4.0%derived: (ocf − capex) ÷ revenueFY2012 · FCF margin 3.0%FY12FCF margin 3.0%derived: (ocf − capex) ÷ revenueFY2013 · FCF margin 1.7%FY13FCF margin 1.7%derived: (ocf − capex) ÷ revenueFY2014 · FCF margin 5.9%FY14FCF margin 5.9%derived: (ocf − capex) ÷ revenueFY2015 · FCF margin 12.4%FY15FCF margin 12.4%derived: (ocf − capex) ÷ revenueFY2016 · FCF margin 8.6%FY16FCF margin 8.6%derived: (ocf − capex) ÷ revenueFY2017 · FCF margin 6.1%FY17FCF margin 6.1%derived: (ocf − capex) ÷ revenueFY2018 · FCF margin 10.0%FY18FCF margin 10.0%derived: (ocf − capex) ÷ revenueFY2019 · FCF margin 9.0%FY19FCF margin 9.0%derived: (ocf − capex) ÷ revenueFY2020 · FCF margin -2.2%FY20FCF margin -2.2%derived: (ocf − capex) ÷ revenueFY2021 · Net margin 17.5% · FCF margin 6.5%FY21Net margin 17.5%FCF margin 6.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 17.4% · FCF margin 16.0%FY22Net margin 17.4%FCF margin 16.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 13.0% · FCF margin 9.9%FY23Net margin 13.0%FCF margin 9.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 8.8% · FCF margin -0.1%FY24Net margin 8.8%FCF margin -0.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 6.5% · FCF margin 2.8%FY25Net margin 6.5%FCF margin 2.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 6.5%FCF margin 2.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 6.5% · free cash flow 2.8% of revenue

Cash engineOperating cash flowFree cash flow
$0$2B$4BFY2007 · OCF $418.2M · FCF $23.0M · 0001047469-10-001104 · filed 2010-02-22FY07OCF $418.2MFCF $23.0M0001047469-10-001104 · filed 2010-02-22FY2008 · OCF $770.3M · FCF $357.8M · 0001047469-11-001181 · filed 2011-02-23FY08OCF $770.3MFCF $357.8M0001047469-11-001181 · filed 2011-02-23FY2009 · OCF $445.6M · FCF $115.5M · 0001047469-11-001181 · filed 2011-02-23FY09OCF $445.6MFCF $115.5M0001047469-11-001181 · filed 2011-02-23FY2010 · OCF $169.3M · FCF $35.9M · 0001047469-11-001181 · filed 2011-02-23FY10OCF $169.3MFCF $35.9M0001047469-11-001181 · filed 2011-02-23FY2011 · OCF $486.4M · FCF $319.3M · 0001047469-14-001662 · filed 2014-03-03FY11OCF $486.4MFCF $319.3M0001047469-14-001662 · filed 2014-03-03FY2012 · OCF $445.7M · FCF $222.2M · 0001047469-15-001486 · filed 2015-03-02FY12OCF $445.7MFCF $222.2M0001047469-15-001486 · filed 2015-03-02FY2013 · OCF $312.2M · FCF $125.3M · 0001047469-16-010496 · filed 2016-02-26FY13OCF $312.2MFCF $125.3M0001047469-16-010496 · filed 2016-02-26FY2014 · OCF $628.2M · FCF $516.4M · 0001144204-17-011732 · filed 2017-02-28FY14OCF $628.2MFCF $516.4M0001144204-17-011732 · filed 2017-02-28FY2015 · OCF $1.05B · FCF $939.1M · 0001144204-18-011155 · filed 2018-02-27FY15OCF $1.05BFCF $939.1M0001144204-18-011155 · filed 2018-02-27FY2016 · OCF $852.8M · FCF $654.6M · 0001144204-19-010579 · filed 2019-02-27FY16OCF $852.8MFCF $654.6M0001144204-19-010579 · filed 2019-02-27FY2017 · OCF $739.4M · FCF $574.5M · 0001558370-20-001641 · filed 2020-02-27FY17OCF $739.4MFCF $574.5M0001558370-20-001641 · filed 2020-02-27FY2018 · OCF $1.42B · FCF $1.18B · 0001558370-21-002129 · filed 2021-03-01FY18OCF $1.42BFCF $1.18B0001558370-21-002129 · filed 2021-03-01FY2019 · OCF $1.40B · FCF $944.3M · 0001558370-22-002377 · filed 2022-02-28FY19OCF $1.40BFCF $944.3M0001558370-22-002377 · filed 2022-02-28FY2020 · OCF $987.0M · FCF −$211.0M · 0001558370-23-002303 · filed 2023-02-28FY20OCF $987.0MFCF −$211.0M0001558370-23-002303 · filed 2023-02-28FY2021 · OCF $2.20B · FCF $1.20B · 0001558370-24-002152 · filed 2024-02-29FY21OCF $2.20BFCF $1.20B0001558370-24-002152 · filed 2024-02-29FY2022 · OCF $4.46B · FCF $3.55B · 0001558370-25-001886 · filed 2025-02-28FY22OCF $4.46BFCF $3.55B0001558370-25-001886 · filed 2025-02-28FY2023 · OCF $3.52B · FCF $1.86B · 0001104659-26-021395 · filed 2026-02-27FY23OCF $3.52BFCF $1.86B0001104659-26-021395 · filed 2026-02-27FY2024 · OCF $1.84B · FCF −$23.5M · 0001104659-26-021395 · filed 2026-02-27FY24OCF $1.84BFCF −$23.5M0001104659-26-021395 · filed 2026-02-27FY2025 · OCF $1.45B · FCF $501.5M · 0001104659-26-021395 · filed 2026-02-27FY25OCF $1.45BFCF $501.5M0001104659-26-021395 · filed 2026-02-27FY25OCF $1.45BFCF $501.5M0001104659-26-021395 · filed 2026-02-27’09’13’17’21’25

FY2025: $1.45B operating cash − $948.0M capex = $501.5M free cash flow

Returns on capitalReturn on equityReturn on assets
0%20%40%FY2008 · ROE 28.5% · ROA 8.8%FY08ROE 28.5%ROA 8.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE -0.4% · ROA -0.2%FY09ROE -0.4%ROA -0.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 6.8% · ROA 2.5%FY10ROE 6.8%ROA 2.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 51.0% · ROA 25.6%FY21ROE 51.0%ROA 25.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 47.5% · ROA 27.3%FY22ROE 47.5%ROA 27.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 27.6% · ROA 16.4%FY23ROE 27.6%ROA 16.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 17.2% · ROA 10.3%FY24ROE 17.2%ROA 10.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 13.2% · ROA 7.2%FY25ROE 13.2%ROA 7.2%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 13.2%ROA 7.2%derived: net income ÷ equity · derived: net income ÷ assets’09’21’23’25

return on equity 29% (FY2008) → 13% (FY2025) · on assets 7.2%

Balance sheetLiabilitiesEquity
$0$5B$10B$15BFY2010 · Liabilities $3.46B · Equity $2.08BFY10Liabilities $3.46BEquity $2.08B0001047469-12-001586 · filed 2012-02-27FY2011 · Liabilities $3.61B · Equity $2.30BFY11Liabilities $3.61BEquity $2.30B0001047469-13-001827 · filed 2013-02-27FY2012 · Liabilities $3.34B · Equity $2.38BFY12Liabilities $3.34BEquity $2.38B0001047469-14-001662 · filed 2014-03-03FY2013 · Liabilities $3.32B · Equity $2.50BFY13Liabilities $3.32BEquity $2.50B0001047469-15-001486 · filed 2015-03-02FY2014 · Liabilities $4.31B · Equity $2.91BFY14Liabilities $4.31BEquity $2.91B0001047469-16-010496 · filed 2016-02-26FY2015 · Liabilities $3.53B · Equity $2.68BFY15Liabilities $3.53BEquity $2.68B0001144204-17-011732 · filed 2017-02-28FY2016 · Liabilities $3.54B · Equity $2.93BFY16Liabilities $3.54BEquity $2.93B0001144204-18-011155 · filed 2018-02-27FY2017 · Liabilities $3.55B · Equity $3.35BFY17Liabilities $3.55BEquity $3.35B0001144204-19-010579 · filed 2019-02-27FY2018 · Liabilities $3.82B · Equity $3.94BFY18Liabilities $3.82BEquity $3.94B0001558370-20-001641 · filed 2020-02-27FY2019 · Liabilities $4.21B · Equity $4.08BFY19Liabilities $4.21BEquity $4.08B0001558370-21-002129 · filed 2021-03-01FY2020 · Liabilities $4.92B · Equity $4.35BFY20Liabilities $4.92BEquity $4.35B0001558370-22-002377 · filed 2022-02-28FY2021 · Liabilities $6.21B · Equity $6.30BFY21Liabilities $6.21BEquity $6.30B0001558370-23-002303 · filed 2023-02-28FY2022 · Liabilities $6.06B · Equity $8.13BFY22Liabilities $6.06BEquity $8.13B0001558370-24-002152 · filed 2024-02-29FY2023 · Liabilities $6.07B · Equity $8.87BFY23Liabilities $6.07BEquity $8.87B0001558370-25-001886 · filed 2025-02-28FY2024 · Liabilities $5.99B · Equity $8.93BFY24Liabilities $5.99BEquity $8.93B0001104659-26-021395 · filed 2026-02-27FY2025 · Liabilities $7.49B · Equity $8.96BFY25Liabilities $7.49BEquity $8.96B0001104659-26-021395 · filed 2026-02-27FY25Liabilities $7.49BEquity $8.96B0001104659-26-021395 · filed 2026-02-27’13’17’21’25

FY2025: $16.42B assets · $7.49B liabilities · $8.96B equity

The receipts