Steel Dynamics financials
$230.39−1.40%
Close Sep 28, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.18B | $17.54B | $18.80B | $22.26B | $18.41B | $9.60B | $10.46B | $11.82B | $9.54B | $7.78B |
| Gross profit | $2.39B | $2.80B | $4.05B | $6.12B | $5.36B | $1.43B | $1.53B | $2.32B | $1.58B | $1.33B |
| Gross margin | 13.2% | 16.0% | 21.5% | 27.5% | 29.1% | 14.9% | 14.6% | 19.6% | 16.6% | 17.2% |
| Operating income | $1.48B | $1.94B | $3.15B | $5.09B | $4.30B | $847.1M | $986.9M | $1.72B | $1.07B | $728.0M |
| Net income | $1.19B | $1.54B | $2.45B | $3.86B | $3.21B | $550.8M | $671.1M | $1.26B | $812.7M | $382.1M |
| Net margin | 6.5% | 8.8% | 13.0% | 17.4% | 17.5% | 5.7% | 6.4% | 10.6% | 8.5% | 4.9% |
| Diluted EPS | $7.99 | $9.84 | $14.64 | $20.92 | $15.56 | $2.59 | $3.04 | $5.35 | $3.36 | $1.56 |
| EBITDA | $2.03B | $2.42B | $3.59B | $5.48B | $4.65B | $1.19B | $1.31B | $2.04B | $1.37B | $1.16B |
| Operating cash flow | $1.45B | $1.84B | $3.52B | $4.46B | $2.20B | $987.0M | $1.40B | $1.42B | $739.4M | $852.8M |
| Free cash flow | $501.5M | -$23.5M | $1.86B | $3.55B | $1.20B | -$211.0M | $944.3M | $1.18B | $574.5M | $654.6M |
| Diluted shares | 148.4M | 156.1M | 167.4M | 184.6M | 206.6M | 212.3M | 220.7M | 235.2M | 241.8M | 245.3M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $769.9M | $589.5M | $1.40B | $1.63B | $1.24B | $1.37B |
| Short-term investments | $0.00 | $147.8M | $721.2M | $628.2M | — | — |
| Total debt | $4.21B | $3.23B | $3.07B | $3.07B | $3.11B | $3.12B |
| Total assets | $16.42B | $14.94B | $14.91B | $14.16B | $12.53B | $9.27B |
| Total liabilities | $7.49B | $5.99B | $6.07B | $6.06B | $6.21B | $4.92B |
| Shareholders' equity | $8.79B | $8.77B | $8.67B | $7.91B | $6.11B | $4.19B |
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