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STEEL DYNAMICS INC STLD

Nasdaq · stock · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) · website · IPO 1996-11-22 · LEI

STEEL DYNAMICS INC statistics & valuation

Market cap$35.4B
P / E29.9×
P / S1.9×
P / B4.0×
P / FCF70.6×
Dividend yield0.82%
Net margin6.5%
Return on equity13.2%
FCF margin2.8%
Net debt$3.4B
Net debt / EBITDA1.7×
Enterprise value USD$38.8B
EV / EBITDA19.2×
Earnings yield EBIT/EV3.8%
Return on capital10.3%
Graham number -60.4%$104.17

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($104.17); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
17.50% 17.40% 13.00% 8.80% 6.50% 2016201720182019202020212022202320242025
Gross margin (%)
17.20% 16.60% 19.60% 14.60% 14.90% 29.10% 27.50% 21.50% 16.00% 13.20% 2016201720182019202020212022202320242025
Operating margin (%)
9.40% 11.20% 14.60% 9.40% 8.80% 23.40% 22.90% 16.80% 11.10% 8.10% 2016201720182019202020212022202320242025
Return on equity (%)
51.00% 47.50% 27.60% 17.20% 13.20% 2016201720182019202020212022202320242025
Shares outstanding
245.3M 241.8M 235.2M 220.7M 212.3M 206.6M 184.6M 167.4M 156.1M 148.4M 2016201720182019202020212022202320242025
Net debt ($)
$1.52B $1.35B $1.55B $1.35B $1.73B $1.86B $1.44B $1.67B $2.64B $3.43B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
25.60% 27.30% 16.40% 10.30% 7.20% 2016201720182019202020212022202320242025
Free cash flow margin (%)
8.40% 6.00% 9.90% 9.00% -2.20% 6.50% 16.00% 9.90% -0.10% 2.80% 2016201720182019202020212022202320242025
Debt / equity (×)
0.81× 0.71× 0.60× 0.67× 0.71× 0.49× 0.38× 0.35× 0.36× 0.47× 2016201720182019202020212022202320242025
EPS ($)
$1.56 $3.36 $5.35 $3.04 $2.59 $15.56 $20.92 $14.64 $9.84 $7.99 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

STEEL DYNAMICS INC trades at about 32.9× earnings — above its 10-year norm (10-year range 3.6×–22.5×, median 13×).

3.6× 32.9×

Shaded band = 10-year range (3.6×–22.5×); dot = today's 32.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin13.2%16.0%21.5%27.5%29.1%14.9%14.6%19.6%16.6%17.2%
Operating margin8.1%11.1%16.8%22.9%23.4%8.8%9.4%14.6%11.2%9.4%
Net margin6.5%8.8%13.0%17.4%17.5%—————
FCF margin2.8%-0.1%9.9%16.0%6.5%-2.2%9.0%9.9%6.0%8.4%
Return on assets7.2%10.3%16.4%27.3%25.6%—————
Return on equity13.2%17.2%27.6%47.5%51.0%—————
Debt / equity0.47×0.36×0.35×0.38×0.49×0.71×0.67×0.60×0.71×0.81×
Current ratio3.062.532.913.763.103.384.223.964.044.11

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.