What is Steel Dynamics's total cost of revenue?

Steel Dynamics (STLD) reported total cost of revenue of $4.44B in Q1 2026.

How has Steel Dynamics's total cost of revenue changed year-over-year?

Steel Dynamics's total cost of revenue increased by 14.4% year-over-year, from $3.88B to $4.44B.

What is the long-term trend for Steel Dynamics's total cost of revenue?

Over 4 years (2021 to 2025), Steel Dynamics's total cost of revenue has grown at a 4.9% compound annual growth rate (CAGR), from $13.05B to $15.78B.

What does total cost of revenue mean?

The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.

Steel Dynamics STLD Total Cost of Revenue

Total Cost of Revenue at other companies

Commercial MetalsCMC

$1.74B+13.6%

NucorNUE

$8B+10.7%

Cleveland-CliffsCLF

$5B-0.4%

RelianceRS

$2.85B+16.4%

MetallusMTUS

$283.2M+9.5%

Worthington SteelWS

$693.7M+14.4%

Segments

By segment

See full

Steel Operations$3.03B+5.6%

Metals Recycling Operations$1.05B+3.0%

Corporate And Other$481.07M+38.8%

Aluminum Operations$297.73M+225%

Steel Fabrication Operations$239.41M+13.0%

Other financials

Income statement

See full

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

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:CostOfGoodsAndServicesSold.

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 total cost of revenue?: Steel Dynamics (STLD) reported total cost of revenue of $4.44B in Q1 2026.
How has Steel Dynamics's total cost of revenue changed year-over-year?: Steel Dynamics's total cost of revenue increased by 14.4% year-over-year, from $3.88B to $4.44B.
What is the long-term trend for Steel Dynamics's total cost of revenue?: Over 4 years (2021 to 2025), Steel Dynamics's total cost of revenue has grown at a 4.9% compound annual growth rate (CAGR), from $13.05B to $15.78B.
What does total cost of revenue mean?: The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.