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Companies / Materials / Steel Dynamics
STLD

Steel Dynamics

MaterialsPrimary MetalsS&P 500
Ticker STLDFORT WAYNE, INFiscal year ends DecemberBook value per share $68.11Diluted shares 144.5M

Steel Dynamics, Inc. (Nasdaq: STLD) produces steel and aluminum products, processes and sells recycled metals, and manufactures steel joist and deck products. Its four operating segments are steel operations, metals recycling, steel fabrication, and aluminum operations. In 2025, steel operations generated 72% of… From the company’s description.

In fiscal 2025, Steel Dynamics reported revenue of $18.18B, up 3.6% from fiscal 2024, and net income of $1.19B. Its operating margin was 8.1%, and operations generated $1.45B in cash. Over the twelve months to Sep 30, 2026, revenue was $22.22B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$18.18BFY2025
+3.6% year over year
Last 12 mo $22.22B
8.12%FY2025
−3 percentage points
Last 12 mo 11.50%
$1.19BFY2025
−23.4% year over year
Last 12 mo $1.95B
13.24%FY2025
−4 percentage points
Last 12 mo 19.91%
Cash & financing
$1.45BFY2025
−21.4% year over year
Last 12 mo $1.69B
$501.51MFY2025
+2233.8% year over year
Last 12 mo $1.09B
0.47FY2025
Was 0.36× a year earlier
Last 12 mo 0.43
148.4MFY2025
−5.0% year over year
Last 12 mo 144.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Steel Dynamics does

In the company’s own words

Steel Dynamics, Inc. (Nasdaq: STLD) produces steel and aluminum products, processes and sells recycled metals, and manufactures steel joist and deck products. Its four operating segments are steel operations, metals recycling, steel fabrication, and aluminum operations. In 2025, steel operations generated 72% of consolidated net sales, metals recycling 11%, and steel fabrication 8%. Steel products include flat-rolled and long products sold to end users, processors, fabricators, and service centers; recycled ferrous and nonferrous metals are sold to mills, foundries, smelters, and other consumers. Steel fabrication serves the nonresidential construction market, while aluminum operations supply flat-rolled products to beverage-can, automotive, and industrial customers. The company’s electric arc furnace mills use recycled ferrous scrap as their primary input, and its aluminum mill uses recycled aluminum scrap. Steel Dynamics had approximately 14,400 full-time team members at December 31, 2025, and estimated steelmaking and steel coating capacity of approximately 16 million tons.

Company details
Sector
Materials
Industry (SIC)
Primary Metals
Headquarters
FORT WAYNE, IN
Fiscal year end
December
CIK
1022671
SIC
3312

Financial performance, year by year

Fiscal 2013–2025 · USD
$-2.39B$4.34B$11.06B$17.78B$24.50B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Steel Dynamics — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

786
funds hold it
0 of 35
superinvestors hold it
$12.66B
held by funds, at market
37.7%
of shares held by funds
8
bond issues held by funds

Largest fund holders · Steel Dynamics’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.04%of fund net assets
0.25%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.05%of fund net assets
Fidelity 500 Index Fund
FXAIX · Fidelity Concord Street Trust
0.05%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.05%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Steel Dynamics’s bonds, as funds hold them

Funds report holding 8 issues of Steel Dynamics’s debt, $833.93M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.20%, maturing 2027 to 2055.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Steel Dynamics and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Steel Dynamics's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Steel Dynamics's last four quarterly filings that the numbers alone won't show?”
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