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Steel Dynamics STLD Operating margin

Operating margin at other companies

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RelianceRS
7.5%-0.2pp
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Carpenter TechnologyCRS
21.3%+5.0pp
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CSXCSX
33.4%-1.2pp
ATI logo
ATIATI
14.3%0.0pp
Republic Services logo
Republic ServicesRSG
19.9%-0.3pp
Waste Management logo
Waste ManagementWM
17.3%-0.4pp

Other financials

Income statement

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Revenue$5.2B+19.1%
Gross profit$763.2M+56.9%
Operating income$538.0M+95.5%
Net income$403.4M+85.8%
EPS (diluted)$2.78+93.1%

Balance sheet

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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

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Operating cash flow$148.3M-2.8%
CapEx$138.0M-54.8%
Free cash flow$10.3M+107%

Valuation

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Market cap$38.96B+38.9%
Enterprise value$42.6B+36.5%
P/E28.4×+4.4×
P/S2.1×+0.4×

Profitability

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Gross margin14%+0.6pp
Net margin7.2%+0.4pp

Returns & leverage

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Return on equity15.3%+2.2pp
Debt / equity0.5×0.0×
Current ratio3.1×+0.4×

Where this comes from

Calculated from Steel Dynamics’s reported figures.

Based on trailing twelve months.

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 margin?
Steel Dynamics (STLD) reported operating margin of 9.1% in Q1 2026.
How has Steel Dynamics's operating margin changed year-over-year?
Steel Dynamics's operating margin increased by 7.3% year-over-year, from 8.5% to 9.1%.
What is the long-term trend for Steel Dynamics's operating margin?
Over 4 years (2021 to 2025), Steel Dynamics's operating margin has grown at a -17.6% compound annual growth rate (CAGR), from 69.5% to 32.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.