Steel Dynamics (STLD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Steel Dynamics

NasdaqGS•Basic Materials•Steel

$245.35+7.12(0.03%)Pre-market

Market Cap

$35.33B

P/E

22.0x

P/S

1.7x

P/B

3.8x

Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through four segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Aluminum Operations. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, large unequal leg angles, and reinforcing steel bars, standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products. This segment also engages in turning, polishing, straightening, chamfering, precision saw-cutting, and heat treating of bar products. Its products are used in construction, automotive, manufacturing, transportation, heavy and agricultural equipment, energy, and pipe and tube markets. The Metals Recycling Operations segment is involved in the ferrous and nonferrous scrap metal processing, transportation, marketing, brokerage, and scrap management services. Its ferrous products include heavy melting steel, busheling, bundled scrap, shredded scrap, steel turnings, and cast-iron products; and nonferrous products comprise aluminum, brass, copper, stainless steel, and other nonferrous metals. The Steel Fabrication Operations segment produces steel non-residential building components, such as steel joists, joist girders, and steel deck products for non-residential steel fabricators, metal building companies, general construction contractors, developers, property owners, brokers, and governmental entities. The Aluminum Operations segment offers recycled aluminum flat rolled products. The company also exports its products. Steel Dynamics, Inc. was incorporated in 1993 and is headquartered in Fort Wayne, Indiana.

How this company scores

GoodMetricSide Score: 78/100

Strongest: Growth (24/25); weakest: Cash & Earnings Quality (15/25).

Profitability23/25

Growth24/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality15/25

Strengths

Growing revenueHigh ROERising earningsLow leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 22.0x5y range 7.7x – 22.6x

Currently above its 13-quarter median.

P/S · 1.7x5y range 0.6x – 1.7x

Currently above its 20-quarter median.

P/B · 3.8x5y range 1.6x – 3.8x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

FCF consistently trails net income (avg 0.2x) — earnings may be inflated by non-cash items or aggressive accounting.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $35.33B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $20.54B
Q. Revenue: $6.09B
TTM EBITDA: $2.67B
TTM Op. Income: $2.06B
Q. Op. Income: $700.48M
TTM Net Income: $1.61B
Q. Net Income: $534.09M
EPS: $3.71
Shares Out.: $144.00M

$20.54B in TTM revenue grew 19.8% YoY, reaching $6.09B last quarter. TTM EBITDA of $2.67B and TTM operating income of $2.06B show growth is flowing through to the bottom line. TTM net income of $1.61B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 15.7%
EBITDA Margin: 14.4%
Op. Margin: 11.5%
Net Margin: 8.8%

Op. margin of 11.5% is up 3.1% YoY — cost efficiency is improving. Net margin at 8.8% and gross margin of 15.7% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 22.0x
P/S Ratio: 1.7x
P/B Ratio: 3.8x

At 22.0x P/E, the stock trades within typical market levels. P/S of 1.7x and P/B of 3.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 20% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $17.11B
Cash: $567.71M
Long-Term Debt: $4.18B
Book Value: $9.42B
D/E Ratio: 0.4
Debt/EBITDA: 4.8

With $17.11B in assets and $4.18B in long-term debt, D/E is 0.4and book value is $9.42B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $427.94M
TTM Free Cash Flow: $955.56M
FCF Margin: 4.7%
FCF / Net Income: 0.6

TTM FCF of $955.56M on $427.94M in operating cash flow. The FCF / Net Income ratio of 0.6x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.