Steel Dynamics financials
$230.39−1.40%
Close Sep 28, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.09B | $5.20B | $4.41B | $4.83B | $4.57B | $4.37B | $3.87B | $4.34B | $4.63B | $4.69B | $4.23B | $4.59B |
| Gross profit | $959.0M | $763.2M | $529.3M | $757.9M | $618.5M | $486.5M | $441.7M | $605.2M | $774.8M | $980.8M | $730.9M | $952.0M |
| Gross margin | 15.7% | 14.7% | 12.0% | 15.7% | 13.5% | 11.1% | 11.4% | 13.9% | 16.7% | 20.9% | 17.3% | 20.8% |
| Operating income | $700.5M | $538.0M | $310.2M | $507.8M | $382.9M | $275.1M | $237.5M | $395.4M | $559.1M | $751.0M | $518.5M | $733.5M |
| Net income | $534.1M | $403.4M | $266.0M | $403.7M | $298.7M | $217.2M | $207.3M | $317.8M | $428.0M | $584.0M | $424.3M | $577.2M |
| Net margin | 8.8% | 7.8% | 6.0% | 8.4% | 6.5% | 5.0% | 5.4% | 7.3% | 9.2% | 12.4% | 10.0% | 12.6% |
| Diluted EPS | $3.69 | $2.78 | $1.82 | $2.74 | $2.01 | $1.44 | $1.36 | $2.05 | $2.72 | $3.67 | $2.61 | $3.47 |
| EBITDA | $874.4M | $697.3M | $456.5M | $646.2M | $515.7M | $408.9M | $363.1M | $516.5M | $676.2M | $866.2M | $630.3M | $841.0M |
| Operating cash flow | $427.9M | $148.3M | $272.7M | $722.6M | $301.6M | $152.6M | $346.9M | $759.9M | $382.6M | $355.2M | $864.6M | $1.11B |
| Free cash flow | $304.1M | $10.3M | $84.2M | $556.9M | $13.3M | -$152.9M | -$106.3M | $138.5M | -$36.6M | -$19.1M | $349.7M | $555.3M |
| Diluted shares | 144.6M | 145.3M | 146.2M | 147.6M | 149.0M | 150.8M | 152.8M | 154.8M | 157.6M | 159.4M | 162.3M | 166.1M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $567.7M | $556.5M | $769.9M | $770.4M | $458.0M | $1.19B |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $39.6M | $19.6M |
| Total debt | $4.18B | $4.20B | $4.21B | $3.78B | $3.78B | $4.20B |
| Total assets | $17.11B | $16.72B | $16.42B | $15.97B | $15.55B | $15.93B |
| Total liabilities | $7.75B | $7.59B | $7.49B | $6.99B | $6.70B | $7.10B |
| Shareholders' equity | $9.22B | $8.99B | $8.79B | $8.83B | $8.70B | $8.66B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology