Income StatementBalance SheetCash FlowSegments
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Steel Dynamics Business Segments

Business, geographic, and product segment breakdowns

Steel Dynamics generates $19.0B in annual revenue across 4 key segments: Aluminum Operations ($615.3M), Corporate And Other ($1.5B), Metals Recycling Operations ($4.4B), and Steel Fabrication Operations ($1.4B). The company-wide operating margin is 9.15%. Based on the Q1 2026 filing.

Aluminum Operations (TTM)$615.3MCorporate And Other (TTM)$1.5BMetals Recycling Operations (TTM)$4.4BSteel Fabrication Operations (TTM)$1.4BSteel Operations (TTM)$13.9B
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$33.8B
P/E Ratio24.67
ROE15.25%

Geographic

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Segments-$590.0M-$659.3M-$776.8M-$760.2M—-$665.5M
Non Us$307.1M$327.3M$272.7M$321.2M$233.2M$324.5M

Number Of Satellite Recycled Aluminum Slab Centers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
South West America—————1.00

Business Segments

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Steel Operations$8.8B$8.9B$9.0B$8.8B$9.2B$9.4B
Corporate And Other$3.3B$4.2B$3.9B$4.5B$4.6B$4.8B
Aluminum Operations$2.8B$3.1B$3.4B$3.7B$3.9B$4.1B
Metals Recycling Operations$1.3B$1.5B$1.5B$1.5B$1.5B$1.5B
Steel Fabrication Operations$665.9M$623.6M$620.4M$677.8M$667.0M$674.0M

Cost of Goods Sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Steel Operations$2.5B$2.9B$32.3M$3.1B$5.7B$3.0B
Metals Recycling Operations$906.5M$1.0B$1.1B$1.1B$932.0M$1.1B
Corporate And Other$285.5M$346.6M$348.7M$308.1M$301.8M$481.1M
Aluminum Operations$78.8M$91.5M$87.8M$106.9M$211.4M$297.7M
Steel Fabrication Operations$228.1M$211.8M$220.9M$244.0M$229.8M$239.4M

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Steel Operations$85.4M$98.9M$97.4M$101.9M$102.2M$106.1M
Aluminum Operations$4.4M$2.6M$2.8M$3.2M$10.7M$19.1M
Metals Recycling Operations$0.0$15.0M$15.9M$16.5M$16.9M$16.9M
Corporate And Other$32.7M$14.3M$13.5M$13.5M$13.3M$14.3M
Steel Fabrication Operations$2.8M$3.0M$3.3M$3.4M$3.5M$3.7M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Steel Operations$272.1M$272.1M$272.1M$272.1M$272.1M$272.1M
Metals Recycling Operations$189.4M$189.4M$189.4M$189.4M$189.4M$189.4M
Aluminum Operations$14.0M$14.0M$14.0M$14.0M$14.0M$14.0M
Steel Fabrication Operations$1.9M$1.9M$1.9M$1.9M$1.9M$1.9M

Number Of Satellite Recycled Aluminum Slab Centers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum Operations0.002.000.000.00—2.00

Operating Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Steel Operations$171.6M$228.9M$381.1M$496.8M$320.8M$555.5M
Steel Fabrication Operations$142.3M$116.7M$93.1M$107.0M$90.5M$89.5M
Corporate And Other-$85.4M-$66.4M-$65.7M-$72.1M-$77.7M-$82.5M
Aluminum Operations-$16.0M-$28.7M-$40.6M-$56.5M-$47.1M-$64.6M
Metals Recycling Operations$22.1M$25.7M$21.3M$31.5M$18.6M$47.5M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Steel Operations$2.7B$3.2B$3.4B$3.7B$3.2B$3.7B
Metals Recycling Operations$778.1M$1.1B$1.2B$1.1B$977.3M$1.1B
Corporate And Other$287.7M$348.4M$361.4M$320.8M$304.9M$490.6M
Steel Fabrication Operations$396.5M$352.5M$340.7M$378.3M$347.3M$355.5M
Aluminum Operations$81.5M$100.6M$93.6M$104.4M$175.2M$242.1M

Segment Expenditure Addition To Long Lived Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum Operations$323.5M$208.6M$210.5M$65.8M$108.6M$76.3M
Steel Operations$113.0M$92.0M$76.1M$76.1M$73.4M$48.5M
Metals Recycling Operations$16.4M$27.2M$26.9M$30.9M$27.1M$21.2M
Corporate And Other$16.7M$5.5M$6.2M$17.4M$257.0K$7.1M
Steel Fabrication Operations$10.9M$5.2M$3.3M$4.1M$2.5M$1.5M

Segment Reporting Other Item Amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate And Other$87.7M$68.2M$78.4M$84.7M$80.7M$92.0M
Steel Operations$44.9M$55.1M$57.2M$58.3M$74.2M$71.2M
Metals Recycling Operations$14.3M$26.7M$27.3M$26.2M$26.6M$26.9M
Steel Fabrication Operations$26.1M$23.9M$26.7M$27.2M$26.9M$26.5M
Aluminum Operations$31.6M$37.9M$46.3M$54.1M$10.9M$9.0M

Subsidiary Or Equity Method Investee Cumulative Percentage Ownership After All Transactions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum Operations0.0%94.4%0.0%0.0%0.0%94.4%
Steel Operations—18.8%18.8%18.8%18.8%75.0%