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Steel Dynamics STLD Steel Fabrication Operations — Operating Income

Other segment segments

Steel Operations
$555.49M+143%
Corporate And Other
-$82.47M-24.1%
Aluminum Operations
-$64.59M-125%
Metals Recycling Operations
$47.47M+84.6%

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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$35.4B+86.0%
Enterprise value$39.05B+74.6%
P/E25.8×+7.5×
P/S1.9×+0.8×

Profitability

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Gross margin14%+0.6pp
Operating margin9.1%+0.6pp
Net margin7.2%+0.4pp
FCF margin3.5%+2.9pp

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

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 steel fabrication operations — operating income?
Steel Dynamics (STLD) reported steel fabrication operations — operating income of $89.51M in Q1 2026.
How has Steel Dynamics's steel fabrication operations — operating income changed year-over-year?
Steel Dynamics's steel fabrication operations — operating income decreased by 23.3% year-over-year, from $116.75M to $89.51M.
What is the long-term trend for Steel Dynamics's steel fabrication operations — operating income?
Over 4 years (2021 to 2025), Steel Dynamics's steel fabrication operations — operating income has grown at a 2.8% compound annual growth rate (CAGR), from $365.25M to $407.43M.
What does steel fabrication operations — operating income mean?
The profit or loss generated by the steel fabrication segment after deducting operating expenses from revenue. It measures the core operational profitability of the fabrication business before interest, taxes, and corporate-level allocations.