Steel Dynamics

Materials Steel Fort Wayne, Indiana Last filing Feb 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$18.2B
                    3y CAGR -6.5%
                    
                    P31
                    
                    +3.6%
                    
                    Net income
                    FY2025
                
$1.2B
                    Net margin +6.5%
                    
                    P54
                    
                    -22.9%
                    
                    Total assets
                    FY2025
                
$16.4B
                    ROA +7.2%
                    
                    P77
                    
                    +9.9%
                    
                    Operating cash flow
                    FY2025
                
$1.4B
                    FCF margin +2.8%
                    
                    P36
                    
                    -21.4%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 5 years

Total assets $16.4B

Total liabilities $7.5B

Shareholders equity $9.0B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+30.6%	-57.9%	-14.0%	+30.9%	—
Accounts Receivable	-100.0%	-11.9%	-18.6%	+3.4%	—
Inventory	+20.1%	+7.6%	-7.5%	-11.4%	—
Prepaid Expenses	+79.7%	+0.2%	-16.7%	-6.8%	—
Other Current Assets	+79.7%	+0.2%	-16.7%	-6.8%	—
Total Current Assets	+19.4%	-20.0%	-11.1%	+10.7%	—
Property,Plant and Equipment	+5.6%	+20.5%	+25.3%	+13.1%	—
Goodwill	+0.0%	+0.0%	-4.9%	+10.6%	—
Intangible Assets	+45.8%	-11.8%	-3.6%	-9.4%	—
Other Noncurrent Assets	-18.2%	+4.6%	+71.9%	+192.2%	—
Total Assets	+9.9%	+0.2%	+5.3%	+13.0%	—
Liabilities
Accrued Liabilities	+16.6%	+18.5%	-9.2%	+22.3%	—
Current Portion of Long Term Debt	-91.9%	-7.2%	+702.3%	-41.0%	—
Total Current Liabilities	-1.3%	-7.8%	+14.8%	-8.8%	—
Long Term Debt	+48.9%	+7.4%	-13.3%	+0.2%	—
Deferred Tax Liabilities	-1.4%	-0.0%	+6.7%	+4.2%	—
Other Noncurrent Liabilities	+39.8%	-26.3%	+39.5%	+7.9%	—
Total Liabilities	+25.0%	-1.3%	+0.1%	-2.4%	—
Equity
Common Stock	+0.2%	+0.2%	+0.2%	+0.2%	—
Additional Paid In Capital	+1.5%	+1.0%	+0.4%	-0.5%	—
Retained Earnings	+6.0%	+9.2%	+19.1%	+46.6%	—
Treasury Stock	+12.5%	+20.3%	+32.2%	+320.5%	—
Accumulated Other Comprehensive Income	—	—	-52.6%	+142.5%	—
Noncontrolling Interest	-4.8%	+19.2%	+8.2%	-10.3%	—
Total Stockholders Equity	+0.3%	+0.8%	+9.1%	+29.0%	—
Total Liabilitiesand Equity	+9.9%	+0.2%	+5.3%	+13.0%	—

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $18.2B

Operating income $1.5B

Net income $1.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+3.6%	-6.7%	-15.6%	+20.9%	—
Expenses Cost of Revenue	+7.1%	-0.1%	-8.6%	+23.7%	—
Expenses Selling,General and Administrative	+15.2%	+12.8%	+7.9%	-15.3%	—
Expenses Depreciation and Amortization	+15.1%	+9.4%	+14.0%	+10.5%	—
Expenses Share Based Compensation	+3.6%	+7.8%	+4.2%	+2.6%	—
Other Income Expense Gross Profit	-14.6%	-30.7%	-33.9%	+14.1%	—
Other Income Expense Operating Income	-24.0%	-38.3%	-38.1%	+18.4%	—
Other Income Expense Interest Income	-59.2%	-19.5%	+281.9%	—	—
Other Income Expense Other Income/expense	-9.5%	-33.3%	+594.0%	+159.7%	—
Other Income Expense Income Before Tax	-24.7%	-38.4%	-35.9%	+19.3%	—
Income Tax Income Tax Expense	-29.4%	-42.4%	-34.2%	+18.6%	—
net Income net Income	-22.9%	-37.3%	-36.5%	+20.2%	—
net Income Comprehensive Income	-22.9%	-37.3%	-36.6%	+20.4%	—
Earnings Per Share Basic Eps	-18.9%	-32.8%	-30.1%	+34.4%	—
Earnings Per Share Diluted Eps	-18.8%	-32.8%	-30.0%	+34.4%	—
Earnings Per Share Weighted Average Shares Basic	-4.9%	-6.7%	-9.2%	-10.6%	—
Earnings Per Share Weighted Average Shares Diluted	-5.0%	-6.7%	-9.3%	-10.6%	—

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 5 years

Operating cash flow $1.4B

Investing cash flow $-975.0M

Financing cash flow $-294.3M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	-22.9%	-37.3%	-36.5%	+20.2%	—
Operating Activities Depreciation and Amortization	+16.7%	+11.1%	+13.6%	+12.2%	—
Operating Activities Stock Based Compensation	+3.6%	+7.8%	+4.2%	+2.6%	—
Operating Activities Deferred Income Taxes	+323.7%	-176.5%	+62.8%	-89.3%	—
Operating Activities Changes In Operating Assets and Liabilities	+633.8%	+84.0%	-65.5%	-114.7%	—
Operating Activities Other Non Cash Items	-85.4%	+72.1%	-998.4%	+44.6%	—
Operating Activities net Cash From Operating Activities	-21.4%	-47.6%	-21.1%	+102.4%	—
Investing Activities Capital Expenditures	-49.2%	+12.7%	+82.4%	-9.7%	—
Investing Activities Business Acquisitions	—	—	—	—	—
Investing Activities Other Investing Activities	-117.1%	-96.3%	+1499.2%	-132.2%	—
Investing Activities net Cash From Investing Activities	+25.2%	+33.8%	-4.8%	-88.0%	—
Financing Activities Proceeds From Debt	+43.1%	+81.8%	-6.8%	-3.4%	—
Financing Activities Repayment of Debt	+10.5%	+69.9%	-9.3%	-1.0%	—
Financing Activities Repurchase of Common Stock	-25.7%	-16.5%	-19.4%	+69.8%	—
Financing Activities Dividends Paid	+3.0%	+4.2%	+14.4%	+11.4%	—
Financing Activities Other Financing Activities	-428.2%	+67.8%	+55.5%	-130.6%	—
Financing Activities net Cash From Financing Activities	+78.2%	+23.9%	+19.1%	-65.2%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+30.3%	-57.7%	-13.9%	+30.8%	—
Cash Reconciliation net Change In Cash	+122.2%	-256.8%	-159.1%	+408.2%	—
Cash Reconciliation Cash At Beginning of Period	+30.3%	-57.7%	-13.9%	+30.8%	—
Cash Reconciliation Cash At End of Period	+30.3%	-57.7%	-13.9%	+30.8%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+13.2%	+16.0%	+21.5%	+27.5%	+29.1%
Operating margin	+8.1%	+11.1%	+16.8%	+22.9%	+23.4%
Net margin	+6.5%	+8.8%	+13.0%	+17.4%	+17.5%
FCF margin	+2.8%	-0.1%	+9.9%	+16.0%	+6.5%
Growth
Revenue CAGR (3y)	-6.5%	-1.6%	+25.2%	+28.7%	+16.0%
Returns
ROE	+13.2%	+17.2%	+27.6%	+47.5%	+51.0%
ROA	+7.2%	+10.3%	+16.4%	+27.3%	+25.6%
ROIC	+9.5%	+13.1%	+22.9%	+41.1%	+40.6%
Liquidity
Current ratio	3.06x	2.53x	2.91x	3.76x	3.10x
Quick ratio	0.36x	0.93x	1.29x	1.77x	1.42x
Leverage
D/E	0.84x	0.67x	0.68x	0.75x	0.99x
Interest coverage	—	—	41.20x	55.63x	75.18x
Efficiency
Asset turnover	1.11x	1.17x	1.26x	1.57x	1.47x
Cash conversion cycle	—	—	—	+80d	+101d

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FY2025 fundamentals · no price

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Steel Dynamics

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