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Steel Dynamics STLD Q3 2025 earnings

Reported October 20, 2025 · After market close

Revenue$4.8BBeat by $63.7M
EPS$2.74Beat by $0.11
Revenue estimate$4.8B
EPS estimate$2.63

Next report

Oct 19, 2026 (in 2 months)
Revenue estimate$6.3B
EPS estimate$5.41

Financials

Q3 2025

Income statement

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Revenue$4.8B+11.2%
Gross profit$757.9M+25.2%
Operating income$507.8M+28.4%
Net income$403.7M+27.0%
EPS (diluted)$2.74+33.7%

Balance sheet

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Cash & equivalents$770.4M-24.1%
Total debt$3.8B+2.7%
Total equity$9.0B-1.0%
Total assets$16.0B+1.9%

Cash flow

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Operating cash flow$722.6M-4.9%
CapEx$165.7M-73.3%
Free cash flow$556.9M+302%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$20.52B+3.8%
Enterprise value$23.54B+4.9%
P/E18.2×+6.9×
P/S1.2×+0.1×

Profitability

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Gross margin13.1%-4.2pp
Operating margin8%-4.5pp
Net margin6.4%-3.4pp
FCF margin1.8%-0.7pp

Returns & leverage

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Return on equity12.5%-7.0pp
Debt / equity0.4×0.0×
Current ratio3.1×+0.7×

Segments

By segment

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Steel Operations$3.7B+20.7%
Metals Recycling Operations$1.1B+3.8%
Steel Fabrication Operations$378.3M-15.9%
Corporate And Other$320.8M-22.1%
Aluminum Operations$104.4M+2,405%

By geography

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Non Us$321.2M-8.9%
Other Segments-$760.2M-15.7%

FAQ

When did Steel Dynamics report Q3 2025 earnings?
Steel Dynamics (STLD) reported Q3 2025 earnings on October 20, 2025 after market close.
What were Steel Dynamics's Q3 2025 revenue and EPS?
Steel Dynamics reported revenue of $4.8B and eps of $2.74 for Q3 2025.
Did Steel Dynamics beat estimates in Q3 2025?
Revenue beat the consensus estimate of $4.8B by $63.7M. EPS beat the consensus estimate of $2.63 by $0.11.
How did Steel Dynamics's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 11.2% from $4.3B a year earlier and eps grew 33.7% from $2.05.
Where can I find Steel Dynamics's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-101080) and the 10-Q periodic report (0001104659-25-102052) directly on SEC EDGAR. The filing index links above go to sec.gov.