CapEx
Steel Dynamics CapEx decreased by 26.8% to $137.98M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 54.8%, from $305.51M to $137.98M. Over 4 years (FY 2021 to FY 2025), CapEx shows relatively stable performance with a -1.5% CAGR.
Analysis
How to read this metric
High levels indicate aggressive growth or maintenance investment, while low levels may signal capital efficiency or underinvestment in infrastructure.
Detailed definition
Capital expenditures represent the cash outflows used to acquire, upgrade, or maintain physical assets such as property,...
Peer comparison
Commonly reported as 'Capital Expenditures' or 'Purchases of Property, Plant, and Equipment' in the investing section of the cash flow statement.
anet_capital_expendituresHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $277.21M | $214.63M | $204.54M | $159.33M | $164.14M | $241.23M | $344.20M | $226.32M | $358.28M | $558.36M | $514.95M | $374.31M | $419.17M | $621.36M | $453.18M | $305.51M | $288.33M | $165.69M | $188.50M | $137.98M |
| QoQ Change | — | -22.6% | -4.7% | -22.1% | +3.0% | +47.0% | +42.7% | -34.2% | +58.3% | +55.8% | -7.8% | -27.3% | +12.0% | +48.2% | -27.1% | -32.6% | -5.6% | -42.5% | +13.8% | -26.8% |
| YoY Change | — | — | — | — | -40.8% | +12.4% | +68.3% | +42.0% | +118.3% | +131.5% | +49.6% | +65.4% | +17.0% | +11.3% | -12.0% | -18.4% | -31.2% | -73.3% | -58.4% | -54.8% |
Business Segments
| Segment | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|
| Steel Operations | $257.25M | $200.72M | $196.44M | $136.19M | $135.86M | $131.75M | $207.35M | $120.54M |
| Corporate And Other | $9.56M | $3.58M | — | $7.89M | $8.51M | $93.36M | $102.39M | $81.59M |
| Metals Recycling Operations | $7.32M | $6.87M | $8.25M | $11.56M | $15.20M | $11.14M | $30.18M | $19.70M |
| Steel Fabrication Operations | $3.08M | $3.46M | $3.78M | $3.69M | $4.57M | $4.98M | $4.29M | $4.50M |
| Total | $277.21M | $214.63M | $204.54M | $159.33M | $164.14M | $241.23M | $344.20M | $226.32M |
Corporate And Other, Metals Recycling Operations, Steel Fabrication Operations, Steel Operations were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
CapEx at Other Companies
Frequently Asked Questions
- What is Steel Dynamics's capex?
- Steel Dynamics (STLD) reported capex of $137.98M in Q1 2026.
- How has Steel Dynamics's capex changed year-over-year?
- Steel Dynamics's capex decreased by 54.8% year-over-year, from $305.51M to $137.98M.
- What is the long-term trend for Steel Dynamics's capex?
- Over 4 years (2021 to 2025), Steel Dynamics's capex has grown at a -1.5% compound annual growth rate (CAGR), from $1.01B to $948.03M.
- What does capex mean?
- Cash spent on purchasing or maintaining long-term physical assets.