Fundamental analysis · SEC EDGAR · TTM through 30/09/2026
STLD · Nasdaq · Materials
Fundamental quality
76
out of 100
Steel Dynamics Inc grows profitably: it increases revenue at double digits (15.7% a year) without giving up profitability (net margin 8.8%). On fundamental quality it scores 76 out of 100, profiling it as a company with solid fundamentals. Its weakest area is its profitability (net margin 8.8%). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
Steel Dynamics is the other great American mini-mill, founded by Nucor alumni with the same playbook: melt scrap with electricity, run cheap, pay well. It adds its own metals-recycling business and a new bet on aluminum.
EPS growth: 33.4% · Revenue growth: 15.7%
Net margin: 8.8% · ROE: 19.9% · ROIC: 15.3%
Net debt/EBITDA: 1.02x · FCF: 4.9%
Source: SEC EDGAR · TTM through 30/09/2026
The score includes +3 for dividend strength: 13 consecutive years of increases. Keeping that streak demands growing cash generation and balance-sheet discipline.
The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its profitability drags it down the most.
Percentile against the other 27 Materials companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2020 | 9,601 | 571 | -211 | 1,734 |
| 2021 | 18,409 | 3,214 | 1,198 | 1,862 |
| 2022 | 22,261 | 3,863 | 3,552 | 1,442 |
| 2023 | 18,795 | 2,451 | 1,862 | 1,670 |
| 2024 | 17,540 | 1,537 | -24 | 2,642 |
| 2025 | 18,177 | 1,186 | 502 | 3,441 |
Between 2020 and 2025, revenue went from $9,601M to $18,177M (+89%) and net income went from $571M to $1,186M (+108%).
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
Latest results
Figures for the nine months ended September 30, 2026, versus the nine months ended September 30, 2025 (SEC filings):
Compared with the previous close (June 30, 2026), this is what moved in its accounts:
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
$2
per share, yearly
24.6% of earnings
Payout
13 straight years raising it
Growth
The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →
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Is Steel Dynamics Inc cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is Steel Dynamics Inc a good company to invest in?
In terms of business quality, Steel Dynamics Inc scores 76 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is Steel Dynamics Inc a profitable company?
Steel Dynamics Inc is profitable, with a net margin of 8.8%, though a thin one.
Does Steel Dynamics Inc have a lot of debt?
Not particularly. Its net debt is 1.02 times its EBITDA, a low level.
Is Steel Dynamics Inc growing?
Its revenue has grown 15.7% annualized in recent years and its earnings per share 33.4%.
Does Steel Dynamics Inc generate cash?
Yes. It converts about 4.9% of its revenue into free cash flow.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
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DuPont (DD) · Ecolab (ECL) · Nucor (NUE) · Vulcan Materials (VMC) · Martin Marietta (MLM) · PPG Industries (PPG) · see more →
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Compare Steel Dynamics Inc with 500+ companies in the screener →
Who's behind the methodology and model · how the score is computed
Data: see Steel Dynamics Inc's filings on EDGAR
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