Steel DynamicsSTLDEarnings & Financial Report
Steel Dynamics, Inc. (SDI) is an American steel producer based in Fort Wayne, Indiana. With a production capacity of 13 million tons of steel, the company is the third largest producer of carbon steel products in the United States. It is among the most profitable American steel companies in terms of profit margins and operating margin per ton. Based on its 2021 revenue, the company ranked 196th on the 2022 edition of the Fortune 500.
Revenue
$3.9B
Gross Profit
$441.7M
Operating Profit
$237.5M
Net Profit
$207.3M
Gross Margin
11.4%
Operating Margin
6.1%
Net Margin
5.4%
YoY Growth
-11.6%
EPS
$1.40
Steel Dynamics Q4 FY2024 Financial Summary
Steel Dynamics reported revenue of $3.9B (down 11.6% YoY) for Q4 FY2024, with a net profit of $207.3M (down 51.1% YoY) (5.4% margin). Cost of goods sold was $3.4B, operating expenses totaled $204.2M.
Key Financial Metrics
| Total Revenue | $3.9B |
|---|---|
| Net Profit | $207.3M |
| Gross Margin | 11.4% |
| Operating Margin | 6.1% |
| Report Period | Q4 FY2024 |
Steel Dynamics Annual Revenue by Year
Steel Dynamics annual revenue history includes year-by-year totals (for example, 2025 revenue was $18.2B).
| Year | Annual Revenue |
|---|---|
| 2025 | $18.2B |
| 2024 | $17.5B |
| 2023 | $18.8B |
| 2022 | $22.3B |
Steel Dynamics Quarterly Revenue & Net Profit History
Steel Dynamics results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $5.2B | +17.9% | $400.1M | 7.7% |
| Q4 FY2025 | $4.4B | +14.0% | $266.0M | 6.0% |
| Q3 FY2025 | $4.8B | +11.2% | $403.7M | 8.4% |
| Q2 FY2025 | $4.6B | -1.5% | $298.7M | 6.5% |
| Q1 FY2025 | $4.4B | -6.9% | $217.2M | 5.0% |
| Q4 FY2024 | $3.9B | -11.6% | $207.3M | 5.4% |
| Q3 FY2024 | $4.3B | -5.4% | $317.8M | 7.3% |
| Q2 FY2024 | $4.6B | -8.8% | $428.0M | 9.2% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.63B | $4.34B | $3.87B | $4.37B | $4.57B | $4.83B | $4.41B | $5.20B |
| YoY Growth | -8.8% | -5.4% | -11.6% | -6.9% | -1.5% | 11.2% | 14.0% | 17.9% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $15.06B | $15.66B | $14.94B | $15.93B | $15.55B | $15.97B | $16.42B | $16.72B |
| Liabilities | $5.94B | $6.58B | $5.99B | $7.10B | $6.70B | $6.99B | $7.49B | $7.59B |
| Equity | $9.13B | $9.08B | $8.93B | $8.82B | $8.86B | $9.00B | $8.96B | $8.99B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $382.6M | $759.9M | $346.9M | $152.6M | $301.6M | $722.6M | $272.7M | $148.3M |