STLD
Steel Dynamics Inc.Stock · MaterialsS&P 500 Equal Weight 0.2% · Nasdaq Composite 0.08% · S&P 500 0.05% · Russell 1000 0.04% · MSCI World 0.04% · US Stock Market 0.04% · Russell 3000 0.04% · MSCI ACWI 0.03%$239.79+1.14%
as of market close, Sep 11, 2026
☾ AH — —
STLD financial statements
The full income statement, balance sheet, and cash-flow statement for Steel Dynamics Inc. (STLD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 154.3M2024-09 152.2M2024-12 150.2M2025-03 148.5M2025-06 147.2M2025-09 146.0M2025-12 144.9M2026-03 144.2M2026-06 143.3M-7.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 18.2B+3.6% | 17.5B-6.7% | 18.8B-15.6% | 22.3B+20.9% | 18.4B+92.0% | |
| 2.39B-14.6% | 2.80B-30.7% | 4.05B-33.9% | 6.12B+14.1% | 5.36B+273.8% | ||
| Cost of revenue | 15.8B+7.1% | 14.7B-0.1% | 14.7B-8.6% | 16.1B+23.7% | 13.0B+59.8% | |
| Selling, general & administrative | 765M+15.2% | 664M+12.8% | 589M+7.9% | 546M-15.3% | 644M | |
| Amortization of intangibles | 27.9M-8.6% | 30.5M-10.3% | 34.0M+22.3% | 27.8M-4.8% | 29.2M+0.8% | |
| Operating income | 1.48B-24.0% | 1.94B-38.3% | 3.15B-38.1% | 5.09B+18.4% | 4.30B+407.7% | |
| Interest expense | 70.0M+24.3% | 56.3M-26.3% | 76.5M-16.4% | 91.5M+60.0% | 57.2M-39.7% | |
| Interest & investment income | 36.8M-59.2% | 90.1M-19.5% | 112M+281.9% | 29.3M | — | |
| Other non-operating income | 87.0M-9.5% | 96.2M-33.3% | 144M+594.0% | 20.8M+159.7% | -34.8M+25.6% | |
| Pre-tax income | 1.49B-24.7% | 1.98B-38.4% | 3.22B-35.9% | 5.02B+19.3% | 4.21B+496.6% | |
| Income tax | 306M-29.4% | 433M-42.4% | 752M-34.2% | 1.14B+18.6% | 962M+614.6% | |
| 1.19B-22.9% | 1.54B-37.3% | 2.45B-36.5% | 3.86B+20.2% | 3.21B+463.1% | ||
| Net income to non-controlling interest | 1.72M-86.6% | 12.8M-22.1% | 16.4M-2.2% | 16.8M-48.6% | 32.7M+63.7% | |
| Net income to common | 1.19B-22.9% | 1.54B-37.3% | 2.45B-36.5% | 3.86B+20.2% | 3.21B+483.5% | |
| $7.99-18.8% | $9.84-32.8% | $14.64-30.0% | $20.92+34.4% | $15.56+500.8% | ||
| EPS (basic) | $8.02-18.9% | $9.89-32.8% | $14.72-30.1% | $21.06+34.4% | $15.67+500.4% | |
| Weighted-avg shares (basic) | 148M-4.9% | 155M-6.7% | 167M-9.2% | 183M-10.6% | 205M-2.9% | |
| Weighted-avg shares (diluted) | 148M-5.0% | 156M-6.7% | 167M-9.3% | 185M-10.6% | 207M-2.7% | |
| Dividends per share | $2.00+8.7% | $1.84+8.2% | $1.70+25.0% | $1.36+30.8% | $1.04+4.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 6.48B+19.4% | 5.43B-20.0% | 6.79B-11.1% | 7.64B+10.7% | 6.90B+62.1% | ||
| Cash & equivalents | 770M+30.6% | 589M-57.9% | 1.40B-14.0% | 1.63B+30.9% | 1.24B-9.1% | |
| Short-term investments | 0.00-100.0% | 148M-79.5% | 721M+14.8% | 628M | — | |
| Accounts receivable | 1.68B+18.7% | 1.42B-11.9% | 1.61B-18.6% | 1.98B+3.4% | 1.91B+97.5% | |
| Inventory | 3.74B+20.1% | 3.11B+7.6% | 2.89B-7.5% | 3.13B-11.4% | 3.53B+91.5% | |
| Other current assets | 293M+79.7% | 163M+0.2% | 163M-16.7% | 195M-6.8% | 210M+181.8% | |
| 16.4B+9.9% | 14.9B+0.2% | 14.9B+5.3% | 14.2B+13.0% | 12.5B+35.2% | ||
| Property, plant & equipment | 8.57B+5.6% | 8.12B+20.5% | 6.73B+25.3% | 5.37B+13.1% | 4.75B+15.7% | |
| Operating lease right-of-use | 170M+49.9% | 114M-11.0% | 127M+15.2% | 111M+10.5% | 100M+10.9% | |
| Goodwill | 477M+0.0% | 477M+0.0% | 477M-4.9% | 502M+10.6% | 454M-0.7% | |
| Intangible assets | 331M+45.8% | 227M-11.8% | 258M-3.6% | 268M-9.4% | 295M-9.0% | |
| Other non-current assets | 557M-18.2% | 681M+4.6% | 651M+71.9% | 379M+192.2% | 130M+8.2% | |
| 2.12B-1.3% | 2.15B-7.8% | 2.33B+14.8% | 2.03B-8.8% | 2.23B+76.9% | ||
| Accounts payable | — | — | — | 1.01B-20.5% | 1.27B+66.6% | |
| Accrued liabilities | 427M+16.6% | 367M+18.5% | 309M-9.2% | 341M+15.1% | 296M+65.8% | |
| Short-term & current debt | 34.7M-91.9% | 427M-7.2% | 460M+702.3% | 57.3M-41.0% | 97.2M+11.8% | |
| Current lease liability | 24.2M+21.3% | 19.9M-5.2% | 21.0M+11.4% | 18.9M+5.8% | 17.8M+0.7% | |
| 7.49B+25.0% | 5.99B-1.3% | 6.07B+0.1% | 6.06B-2.4% | 6.21B+26.3% | ||
| Long-term debt | 4.18B+48.9% | 2.80B+7.4% | 2.61B-13.3% | 3.01B+0.2% | 3.01B-0.2% | |
| Non-current lease liability | 147M+56.2% | 94.4M-11.9% | 107M+16.7% | 91.8M+11.6% | 82.3M+13.3% | |
| Operating lease liability (total) | 172M+50.1% | 114M-10.8% | 128M+15.8% | 111M+10.6% | 100M+10.8% | |
| Deferred tax liabilities | 1.00B+11.3% | 902M-4.5% | 945M+6.3% | 889M+4.0% | 855M+59.4% | |
| Other non-current liabilities | 186M+39.8% | 133M-26.3% | 181M+39.5% | 130M+7.9% | 120M+12.8% | |
| 8.96B+0.3% | 8.93B+0.8% | 8.87B+9.1% | 8.13B+29.0% | 6.30B+45.1% | ||
| Common stock | 653K+0.2% | 652K+0.2% | 651K+0.2% | 650K+0.2% | 649K+0.2% | |
| Additional paid-in capital | 1.25B+1.5% | 1.23B+1.0% | 1.22B+0.4% | 1.21B-0.5% | 1.22B+1.0% | |
| Retained earnings | 15.7B+6.0% | 14.8B+9.2% | 13.5B+19.1% | 11.4B+46.6% | 7.76B+63.1% | |
| Treasury stock | 7.98B+12.5% | 7.09B+20.3% | 5.90B+32.2% | 4.46B+66.8% | 2.67B+64.7% | |
| Accumulated other comprehensive income | -598K | — | 421K-52.6% | 889K+142.5% | -2.09M-209.9% | |
| Non-controlling interest | -168M-4.8% | -160M+19.2% | -198M+8.2% | -216M-10.3% | -196M-25.9% | |
| Total equity incl. non-controlling | 8.79B+0.2% | 8.77B+1.2% | 8.67B+9.5% | 7.91B+29.6% | 6.11B+45.8% | |
| Total liabilities & equity | 16.4B+9.9% | 14.9B+0.2% | 14.9B+5.3% | 14.2B+13.0% | 12.5B+35.2% | |
| Common shares issued | 269M+0.1% | 268M+0.1% | 268M+0.1% | 268M+0.2% | 267M+0.2% | |
| Common shares outstanding | 145M-4.1% | 151M-5.6% | 160M-7.5% | 173M-11.3% | 195M-7.5% | |
| Shares outstanding (cover) | 145M-3.5% | 150M-5.1% | 158M-7.8% | 172M-10.3% | 191M-9.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.45B-21.4% | 1.84B-47.6% | 3.52B-21.1% | 4.46B+102.4% | 2.20B+123.3% | ||
| Depreciation & amortization | 551M+15.1% | 479M+9.4% | 438M+14.0% | 384M+10.5% | 348M+6.7% | |
| Intangible amortization | 27.9M-8.6% | 30.5M-10.3% | 34.0M+22.3% | 27.8M-4.8% | 29.2M+0.8% | |
| Share-based compensation | 69.0M+3.6% | 66.6M+7.8% | 61.7M+4.2% | 59.2M+2.6% | 57.7M+3.8% | |
| Deferred income taxes | 95.3M+323.7% | -42.6M-176.5% | 55.7M+62.8% | 34.2M-89.3% | 319M+596.6% | |
| Change in receivables | 157M+182.4% | -191M+57.2% | -447M-504.1% | 111M-88.3% | 945M+743.9% | |
| Change in inventory | 423M+91.6% | 221M+195.2% | -232M+43.8% | -413M-124.5% | 1.69B+1019.4% | |
| Change in payables | 207M+407.1% | -67.4M-123.4% | -30.1M+89.6% | -289M-151.8% | 558M+205.6% | |
| Other operating activities | -10.2M-85.4% | -5.51M+72.1% | -19.7M-998.4% | -1.79M+44.6% | -3.24M-110.5% | |
| -975M+25.2% | -1.30B+33.8% | -1.97B-4.8% | -1.88B-88.0% | -999M-0.6% | ||
| Capital expenditure | 948M-49.2% | 1.87B+12.7% | 1.66B+82.4% | 909M-9.7% | 1.01B-16.0% | |
| Free cash flow | 502M+2233.8% | -23.5M-101.3% | 1.86B-47.6% | 3.55B+196.5% | 1.20B+667.7% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other investing activities | -1.42M-117.1% | 8.31M-96.3% | 222M+1499.2% | -15.8M-132.2% | -6.82M-158.9% | |
| -294M+78.2% | -1.35B+23.9% | -1.78B+19.1% | -2.20B-65.2% | -1.33B-18763.1% | ||
| Long-term debt issued | 3.55B+43.1% | 2.48B+81.8% | 1.37B-6.8% | 1.47B-3.4% | 1.52B-39.9% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 901M-25.7% | 1.21B-16.5% | 1.45B-19.4% | 1.80B+69.8% | 1.06B+895.6% | |
| Dividends paid | 291M+3.0% | 283M+4.2% | 271M+14.4% | 237M+11.4% | 213M+1.8% | |
| Other financing activities | -88.1M-428.2% | -16.7M+67.8% | -51.7M+55.5% | -116M-130.6% | -50.4M-35.9% | |
| Net change in cash | 180M+122.2% | -811M-256.8% | -227M-159.1% | 385M+408.2% | -125M-839.8% | |
| Interest paid | 157M+55.2% | 101M-2.1% | 103M+2.1% | 101M-2.3% | 103M-7.4% | |
| Income taxes paid | 152M-67.2% | 464M-27.8% | 643M-39.6% | 1.06B+44.3% | 737M+1362.1% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 24.6B+43.3% | 17.1B-10.4% | 19.1B+11.4% | 17.2B+44.5% | 11.9B+52.6% | |
| P/E | 20.7×+85.8% | 11.1×+55.2% | 7.2×+34.5% | 5.3×+44.5% | 3.7×-72.9% | |
| P/S | 1.4×+38.3% | 1.0×+2.2% | 1.0×+23.3% | 0.8×+20.1% | 0.6×-20.5% | |
| P/B | 2.7×+43.0% | 1.9×-10.8% | 2.1×-0.1% | 2.2×+14.3% | 1.9×+5.2% | |
| P/FCF | 49.0× | — | 8.3×+57.7% | 5.2×-47.1% | 9.9× | |
| Earnings yield | 4.8%-46.2% | 9.0%-35.6% | 13.9%-25.7% | 18.7%-30.8% | 27.1%+268.9% | |
| FCF yield | 2.0% | — | 12.1%-36.6% | 19.1%+89.1% | 10.1% | |
| Dividend yield | 1.2%-26.8% | 1.6%+12.1% | 1.4%+3.4% | 1.4%-16.9% | 1.7%-38.2% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: STLD’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all STLD filings on SEC EDGAR → Not investment advice.