Steel Dynamics (STLD) financial statements
- FY2025 revenue
- $18.2B▲ +3.6%
- FY2025 net income
- $1.2B▼ −22.9%
- FY2025 diluted EPS
- $7.99▼ −18.8%
- FY2025 free cash flow
- $502M
Steel Dynamics income statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Revenue | 18,177 | 17,540 | 18,795 |
| Gross profit | 2,392 | 2,803 | 4,046 |
| Operating income | 1,476 | 1,943 | 3,151 |
| Pretax income | 1,493 | 1,983 | 3,219 |
| Net income | 1,186 | 1,537 | 2,451 |
| Diluted earnings per share | 7.99 | 9.84 | 14.64 |
Steel Dynamics balance sheet
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Cash and cash equivalents | 770 | 589 | 1,401 |
| Total assets | 16,420 | 14,935 | 14,908 |
| Total liabilities | 7,489 | 5,990 | 6,069 |
| Total equity | 8,789 | 8,774 | 8,668 |
| Long-term debt | 4,177 | 2,804 | 2,611 |
Steel Dynamics cash flow statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Operating cash flow | 1,450 | 1,845 | 3,520 |
| Capital expenditure | -948 | -1,868 | -1,658 |
| Free cash flow (derived) | 502 | -24 | 1,862 |
| Dividends paid | -291 | -283 | -271 |
| Share repurchases | -901 | -1,212 | -1,452 |
Quarterly highlights
| USD millions | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 |
|---|---|---|---|---|
| Period ended | 30 Sep 2026 | 30 Jun 2026 | 31 Mar 2026 | 31 Dec 2025 |
| Revenue (derived) | 6,509 | 6,092 | 5,205 | 4,414 |
| Operating income (derived) | 1,006 | 700 | 538 | 310 |
| Net income (derived) | 756 | 531 | 400 | 266 |
| Diluted earnings per share | 5.26 | 3.69 | 2.78 | n/a |
| Operating cash flow (derived) | 846 | 428 | 148 | 273 |
| Total assets | 17,836 | 17,113 | 16,720 | 16,420 |
Steel Dynamics major shareholders
| Holder | Share of class | Shares | Filed |
|---|---|---|---|
| BlackRock, Inc. | 7.8% | 11,907,020 | 5 February 2025 |
| Vanguard Capital Management | 7.1% | 10,347,423 | 30 April 2026 |
| STATE STREET CORPORATION | 5.2% | 7,520,492 | 12 May 2026 |
Steel Dynamics 10-K and SEC filings
| Filed | Form | Type | Description |
|---|---|---|---|
| 23 October 2026 | 10-Q | Quarterly report | Quarterly report |
| 20 October 2026 | 8-K | Current report | FORM 8-K |
| 19 October 2026 | 8-K | Current report | FORM 8-K |
| 18 September 2026 | 8-K | Current report | FORM 8-K |
| 14 August 2026 | 8-K | Current report | FORM 8-K |
| 4 August 2026 | 8-K | Current report | FORM 8-K |
| 28 July 2026 | 10-Q | Quarterly report | Quarterly report |
| 21 July 2026 | 8-K | Current report | FORM 8-K |
Common questions
What was Steel Dynamics' revenue in fiscal 2025?
Steel Dynamics reported $18.2 billion in revenue for fiscal 2025, the year ended 31 December 2025, up 3.6% from fiscal 2024.
What was Steel Dynamics' net income in fiscal 2025?
Steel Dynamics reported net income of $1.2 billion for fiscal 2025, the year ended 31 December 2025, down 22.9% from fiscal 2024. Diluted earnings per share were $7.99.
What was Steel Dynamics' free cash flow in fiscal 2025?
Steel Dynamics had $502 million in free cash flow in fiscal 2025. Operating cash flow was $1.4 billion and capital expenditure was $948 million.
What were Steel Dynamics' total assets at the end of fiscal 2025?
Steel Dynamics reported total assets of $16.4 billion at the end of fiscal 2025, the year ended 31 December 2025.
How much Steel Dynamics history do I get?
Every account gets the full history, annual and quarterly, with first reported values and as of dates.
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