Income StatementBalance SheetCash FlowSegments
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Steel Dynamics Income Statement

Revenue, expenses, and profitability over time

Steel Dynamics generated $19.0B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $1.4B with a 7.22% net margin. Gross margin stands at 14.04% and operating margin at 9.15%. Diluted EPS is $9.33, which grew 0.2% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$19.0BGross Profit (TTM)$2.7BOperating Income (TTM)$1.7BNet Income (TTM)$1.4BEps Diluted (TTM)$9.33
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$33.8B
P/E Ratio24.67
ROE15.25%

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Capital Expenditures$453.2M$305.5M$288.3M$165.7M$188.5M$138.0M
Change in Accounts Receivable-$147.8M$303.6M-$19.8M$61.0M—$373.8M
Common Stock Dividends Per Share$0.5$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.5$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Income Taxes Paid, Net$80.3M$3.7M$124.8M$22.2M—$4.5M
Interest Paid, Net$41.5M$28.5M$34.7M$25.6M$67.9M$26.0M
Amortization of capitalized software and acquired intangible assets$7.6M$6.9M$6.9M$6.9M$7.2M$7.8M
Dividends declared (in dollars per share)$0.5$0.5$0.5$0.5$0.5$0.5
Income Taxes Paid, Net$80.3M$3.7M$124.8M$22.2M—$4.5M
Accounts payable-$55.8M$248.6M-$5.3M-$4.8M—$156.9M
Increase (Decrease) in Accounts Receivable-$147.8M$303.6M-$19.8M$61.0M—$373.8M
Accrued liabilities$0.0-$197.4M$39.0M$127.3M-$12.1M-$163.0M
Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable$3.2M$42.8M-$82.7M-$65.1M$157.1M$74.4M
Increase (Decrease) in Inventories$69.5M-$13.8M$163.4M-$64.5M$338.3M$174.4M
Increase (Decrease) in Other Operating Assets—$32.1M-$7.8M$34.6M$18.4M-$21.0M
Interest Expense Nonoperating$14.6M$12.1M$17.4M$13.6M$27.0M$33.2M
Interest Paid, Excluding Capitalized Interest, Operating Activity$41.5M$28.5M$34.7M$25.6M$67.9M$26.0M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$823.8M$623.3M-$724.8M-$289.7M—-$222.8M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation$0.0-$178.8M-$305.7M-$120.5M-$370.0M-$139.1M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$346.9M$152.6M$301.6M$722.6M$272.7M$148.3M
Other income, net (Note 6)$21.0M$17.6M$22.4M$19.7M$27.3M$8.5M
All other operating activities-$7.3M-$4.2M-$890.0K-$8.0M—-$2.3M
Payment for (Proceeds from) Other Investing Activity—$1.1M-$2.6M-$5.6M—$1.1M
Payments for Repurchase of Common Stock$295.1M$250.1M$200.0M$210.4M$240.3M$115.1M
Payments of Ordinary Dividends, Common Stock$70.4M$69.5M$74.7M$73.9M$73.1M$72.5M
Payments to Acquire Property, Plant, and Equipment$453.2M$305.5M$288.3M$165.7M$188.5M$138.0M
Payments to Acquire Short-Term Investments$39.5M$10.0M$29.6M$0.0$0.0—
Issuance of debt$337.4M$1.4B$484.3M$408.0M$1.3B$599.5M
Proceeds from Maturities, Prepayments and Calls of Short-Term Investments$536.4M$137.8M$9.6M$39.6M$0.0—
Financing — other-$3.5M-$30.5M-$31.7M-$5.1M-$20.8M-$22.3M
Repayments of Debt$792.1M$432.5M$902.6M$408.3M$824.4M$612.4M
Revenue From Contract With Customer Excluding Assessed Tax$3.9B$4.4B$4.6B$4.8B$4.4B$5.2B
Stock-based compensation$25.1M$17.0M$14.1M$14.2M$23.6M$17.5M
Cash Dividends, Common Stock$70.4M$69.5M$74.7M$73.9M$73.1M$72.5M
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share (Declared)$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Basic earnings per share$1.42$1.45$2.01$2.75$1.81$2.79
Diluted earnings per share$1.40$1.44$2.01$2.74$1.80$2.78
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common stock dividends per share declared$0.5$0.5$0.5$0.5$0.5$0.5
Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.5$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.5$0.5$0.5$0.5$0.5$0.5
Dividends per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.46$0.50$0.50$0.50$0.50$0.53
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common stock dividends per share declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.5$0.5$0.5$0.5$0.5$0.5
Common stock dividends per share declared$0.5$0.5$0.5$0.5$0.5$0.5
Weighted-average shares, basic—150.3M148.4M146.9M—144.8M
Weighted-average shares, diluted—150.8M149M147.6M—145.3M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$25.1M$17.0M$14.1M$14.2M$23.6M$17.5M
Amortization of Finite-Lived Intangible Assets$7.6M$6.9M$6.9M$6.9M$7.2M$7.8M
Share-Based Compensation Expense$25.1M$17.0M$14.1M$14.2M$23.6M$17.5M
Amortization expense$7.6M$6.9M$6.9M$6.9M$7.2M$7.8M
Depreciation and amortization$125.6M$133.8M$6.9M$6.9M$146.3M$7.8M
Amortization Expense$7.6M$6.9M$6.9M$6.9M$7.2M$7.8M
Amortization of Capitalized Software and Acquired Intangibles$7.6M$6.9M$6.9M$6.9M$7.2M$7.8M
Other Segment Items$21.0M$17.6M$22.4M$19.7M$27.3M$8.5M
Stock-based compensation expense$25.1M$17.0M$14.1M$14.2M$23.6M$17.5M
Selling, general and administrative$176.9M$181.8M$198.0M$200.8M$184.6M$175.2M
Share-Based Compensation$25.1M$17.0M$14.1M$14.2M$23.6M$17.5M
Other Labor Related Expenses$19.8M$22.7M$30.7M$42.4M$27.2M$42.2M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Income Taxes$80.3M$3.7M$124.8M$22.2M—$4.5M
Income Taxes Paid, Net$80.3M$3.7M$124.8M$22.2M—$4.5M
Income tax expense$34.1M$63.0M$86.7M$109.9M$46.1M$113.1M
Income Taxes Paid, Net$80.3M$3.7M$124.8M$22.2M—$4.5M
Income and Other Taxes$80.3M$3.7M$124.8M$22.2M—$4.5M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Interest$41.5M$28.5M$34.7M$25.6M$67.9M$26.0M
Other Charges$21.0M$17.6M$22.4M$19.7M$27.3M$8.5M
Interest expense$14.6M$12.1M$17.4M$13.6M$27.0M$33.2M
Change in Accounts Payable-$55.8M$248.6M-$5.3M-$4.8M—$156.9M
Other income (expense), net$21.0M$17.6M$22.4M$19.7M$27.3M$8.5M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Dividends Declared (Per Share)$0.5$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends$70.4M$69.5M$74.7M$73.9M$73.1M$72.5M
Net income$207.3M$217.2M$298.7M$403.7M$266.0M$403.4M
Common Stock Dividends$70.4M$69.5M$74.7M$73.9M$73.1M$72.5M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$441.7M$486.5M$618.5M$757.9M$529.3M$763.2M
Operating income$237.5M$275.1M$382.9M$507.8M$310.2M$538.0M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$244.0M$280.7M$387.9M$513.8M$310.6M$513.2M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$3.4B$3.9B$3.9B$4.1B$3.9B$4.4B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$3.9B$4.4B$4.6B$4.8B$4.4B$5.2B