Is Steel Dynamics (STLD) overvalued or fairly valued?

MarketChacha shows Steel Dynamics's valuation in context — a trailing P/E of about 21.8, a forward P/E of about 11.4, a price-to-book of about 3.5 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Steel Dynamics's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.32×) from reported figures — education, not a rating.

What is Steel Dynamics's revenue?

Steel Dynamics reported revenue of $18.2B for FY2025, with net profit of $1.2B, per official filings.

What is the share price of Steel Dynamics (STLD)?

Steel Dynamics last traded at $244.37 (-0.3% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Steel Dynamics

STLD · NYSE · Materials · United States

Snapshot

TickerSTLD

ExchangeNYSE

SectorMaterials

IndustrySteel

CountryUnited States

Employees14,400

HeadquartersFort Wayne, United States

Websitewww.steeldynamics.com

Filings tracked25

About Steel Dynamics

Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through four segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Aluminum Operations. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, large unequal leg angles, and reinforcing steel bars, standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products. This segment also engages in turning, polishing, straightening, chamfering, precision saw-cutting, and heat treating of bar products. Its products are used in construction, automotive, manufacturing, transportation, heavy and agricultural equipment, energy, and pipe and tube markets. The Metals Recycling Operations segment is involved in the ferrous and nonferrous scrap metal processing, transportation, marketing, brokerage, and scrap management services. Its ferrous products include heavy melting steel, busheling, bundled scrap, shredded scrap, steel turnings, and cast-iron products; and nonferrous products comprise aluminum, brass, copper, stainless steel, and other nonferrous metals. The Steel Fabrication Operations segment produces steel non-residential building components, such as steel joists, joist girders, and steel deck products for non-residential steel fabricators, metal building companies, general construction contractors, developers, property owners, brokers, and governmental entities. The Aluminum Operations segment offers recycled aluminum flat rolled products. The company also exports its products. Steel Dynamics, Inc. was incorporated in 1993 and is headquartered in Fort Wayne, Indiana.

Who owns it

Insiders6.6%
Institutions86.4%
Public & other7.0%

1,449 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.8.65%
Vanguard Capital Management LLC6.21%
FMR, LLC5.39%
State Street Corporation5.15%
Vanguard Portfolio Management LLC4.71%
Geode Capital Management, LLC2.64%
Capital Research Global Investors2.54%
Morgan Stanley2.33%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 6.5 points over the period — profitability is trending down.

Cash conversion1.32×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend13.0% → 6.5%

Margin has compressed by about 6.5 points over the period — profitability is trending down.

Growth qualityrev -2% · PAT -30%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $6.4B · EPS 5.68

Est. earnings growth +104.4%

Next fiscal year

Rev $24.6B · EPS 21.34

Est. earnings growth +23.4%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$18.2B

Net margin

6.5%

ROE

13.2%

Revenue CAGR (2y)

-1.7%

Profit CAGR (2y)

-30.4%

EPS (FY2025)

7.99

Net profit (FY2025)

$1.2B

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$18.2B	$1.2B	7.99	6.5%	13.2%
FY2024	$17.5B	$1.5B	9.84	8.8%	17.2%
FY2023	$18.8B	$2.5B	14.64	13.0%	27.6%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$6.1B	$534.1M	3.69	8.8%
2026Q1	$5.2B	$403.4M	2.78	7.8%
2025Q3	$4.8B	$403.7M	2.74	8.4%
2025Q2	$4.6B	$298.7M	2.01	6.5%
2025Q1	$4.4B	$217.2M	1.44	5.0%
2024Q3	$4.3B	$317.8M	2.05	7.3%
2024Q2	$4.6B	$428.0M	2.72	9.2%
2024Q1	$4.7B	$584.0M	3.67	12.4%
2023Q3	$4.6B	$577.2M	3.47	12.6%
2023Q2	$5.1B	$812.1M	4.81	16.0%
2023Q1	$4.9B	$637.3M	3.70	13.0%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K/A — Executive/director change
SEC8/18/2026
8-K — Other events, Exhibits
SEC8/14/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC8/4/2026material
10-Q filing
SEC7/28/2026
8-K — Results of operations, Exhibits
SEC7/21/2026material
8-K — Reg FD disclosure, Exhibits
SEC6/18/2026material
8-K — Shareholder vote results, Other events, Exhibits
SEC5/8/2026material
10-Q filing
SEC4/27/2026
8-K — Results of operations, Exhibits
SEC4/21/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC3/27/2026material
8-K — Reg FD disclosure, Exhibits
SEC3/18/2026material
10-K filing
SEC2/27/2026
8-K — Other events, Exhibits
SEC2/23/2026material
8-K — Reg FD disclosure, Exhibits
SEC2/17/2026material
8-K — Results of operations, Exhibits
SEC1/27/2026material
8-K — Reg FD disclosure, Exhibits
SEC1/6/2026material

2025

8-K — Material agreement
SEC12/23/2025material
8-K — Reg FD disclosure, Exhibits
SEC12/17/2025material
8-K — Other events, Exhibits
SEC12/2/2025material
8-K — Material agreement, Material financial obligation, Other events, Exhibits
SEC11/21/2025material
8-K — Other events, Exhibits
SEC11/12/2025material
8-K — Other events, Exhibits
SEC11/10/2025material
10-Q filing
SEC10/24/2025
8-K — Results of operations, Exhibits
SEC10/21/2025material
8-K/A — Executive/director change
SEC9/30/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.