What is Steel Dynamics's operating income?

Steel Dynamics (STLD) reported operating income of $538M in Q1 2026.

How has Steel Dynamics's operating income changed year-over-year?

Steel Dynamics's operating income increased by 95.5% year-over-year, from $275.14M to $538M.

What is the long-term trend for Steel Dynamics's operating income?

Over 4 years (2021 to 2025), Steel Dynamics's operating income has grown at a -23.5% compound annual growth rate (CAGR), from $4.3B to $1.48B.

What does operating income mean?

Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

Steel Dynamics STLD Operating Income

Operating Income at other companies

Cleveland-CliffsCLF

-$213M+60.8%

RelianceRS

$367.9M+34.1%

Worthington SteelWS

$3.1M-83.1%

Suncoke EnergySXC

$4.4M-85.4%

MP MaterialsMP

-$24.12M+30.6%

Republic ServicesRSG

$830M+3.2%

Segments

By segment

See full

Steel Operations$555.49M+143%

Steel Fabrication Operations$89.51M-23.3%

Corporate And Other-$82.47M-24.1%

Aluminum Operations-$64.59M-125%

Metals Recycling Operations$47.47M+84.6%

Other financials

Income statement

See full

Revenue$5.2B+19.1%

Gross profit$763.2M+56.9%

Net income$403.4M+85.8%

EPS (diluted)$2.78+93.1%

Balance sheet

See full

Cash & equivalents$556.5M-53.1%

Total debt$4.2B+0.1%

Total equity$9.2B+3.9%

Total assets$16.7B+5.0%

Cash flow

See full

Operating cash flow$148.3M-2.8%

CapEx$138.0M-54.8%

Free cash flow$10.3M+107%

Valuation

See full

Market cap$35.4B+86.0%

Enterprise value$39.05B+74.6%

P/E25.8×+7.5×

P/S1.9×+0.8×

Profitability

See full

Gross margin14%+0.6pp

Operating margin9.1%+0.6pp

Net margin7.2%+0.4pp

FCF margin3.5%+2.9pp

Returns & leverage

See full

Return on equity15.3%+2.2pp

Debt / equity0.5×0.0×

Current ratio3.1×+0.4×

Where this comes from

Reported directly by Steel Dynamics in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The official record: Steel Dynamics’s 10-Q, filed April 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Steel Dynamics's operating income?: Steel Dynamics (STLD) reported operating income of $538M in Q1 2026.
How has Steel Dynamics's operating income changed year-over-year?: Steel Dynamics's operating income increased by 95.5% year-over-year, from $275.14M to $538M.
What is the long-term trend for Steel Dynamics's operating income?: Over 4 years (2021 to 2025), Steel Dynamics's operating income has grown at a -23.5% compound annual growth rate (CAGR), from $4.3B to $1.48B.
What does operating income mean?: Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.