Inside the research
Steel Dynamics, Inc.
STLD Research profile · latest available data
Price overview
$233.66
▼ -1.54 (-0.7%)
| 52w hi | $282.12 |
|---|---|
| 52w lo | $134.48 |
| Vol | 508.80K |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.26
| Short | +0.15 |
|---|---|
| Medium | +0.25 |
| Long | +0.53 |
computed 2026-09-27
Key fundamentals
Steel Dynamics, Inc.
Basic Materials · Steel
| Market cap | $33.49B |
|---|---|
| Enterprise value | $37.26B |
| Trailing P/E | 21.18x |
| Forward P/E | 11.94x |
| EV / EBITDA | 13.93x |
| P / S (ttm) | 1.63x |
| Profit margin | 7.8% |
| Return on equity | 17.6% |
| Revenue growth | +33.4% |
| Earnings growth | +83.6% |
| Debt / equity | 46.92 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.44 | |
| Sector | -0.02 | |
| Technical | +0.11 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
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.
Risk Metrics
| Beta vs SPX | 1.20 |
|---|---|
| Corr SPX | 0.51 |
| Annual vol | 37.6% |
| Annual ret | +40.4% |
| Sharpe | 1.08 |
| Max DD | -29.2% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $231.70 |
|---|---|
| High / Low | $265.00 / $142.73 |
| Median | $240.00 |
| Analysts | 11 |
| Strong Buy | 1 | |
|---|---|---|
| Buy | 6 | |
| Hold | 3 | |
| Sell | 1 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-04-22 | Wells Fargo | → Overweight |
| 2026-04-22 | Keybanc | → Overweight |
| 2026-04-22 | Citigroup | → Buy |
| 2026-04-22 | BMO Capital | → Outperform |
| 2026-04-16 | Wells Fargo | → Overweight |
| 2026-04-14 | JP Morgan | → Neutral |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-14 | Other Material Event, Exhibits | read |
| 2026-08-04 | Officer / Director Change, Reg FD Disclosure… | read |
| 2026-07-21 | Earnings Release, Exhibits | read |
| 2026-06-18 | Reg FD Disclosure, Exhibits | read |
| 2026-05-08 | Shareholder Vote, Other Material Event… | read |
| 2026-04-21 | Earnings Release, Exhibits | read |
| 2026-03-27 | Officer / Director Change, Reg FD Disclosure… | read |
| 2026-03-18 | Reg FD Disclosure, Exhibits | read |
| 2026-02-23 | Other Material Event, Exhibits | read |
| 2026-02-17 | Reg FD Disclosure, Exhibits | read |
| 2026-01-27 | Earnings Release, Exhibits | read |
| 2026-01-06 | Reg FD Disclosure, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-08-13 | Hamann Jennifer L | Grant | 72 | — | |
| 2026-07-28 | MILLETT MARK D | Chairman and CEO | Gift | 300 | — |
| 2026-07-10 | Sierra Luis Manuel | Grant | 7 | — | |
| 2026-07-10 | Seaman Bradley S | Grant | 109 | — | |
| 2026-07-10 | Hamann Jennifer L | Grant | 18 | — | |
| 2026-07-10 | DOLAN TRACI M | Grant | 102 | — | |
| 2026-07-10 | Cornew Kenneth W. | Grant | 2 | — | |
| 2026-07-10 | BARGABOS SHEREE L | Grant | 43 | — | |
| 2026-06-05 | Anderson James Stanley | Senior Vice President | Sell | 1.10K | $294.08K |
| 2026-06-05 | Anderson James Stanley | Senior Vice President | Sell | 4.18K | $1.12M |
Flow & Concentration
| Insider 180d net | -$2.69M |
|---|---|
| Insider buys / sells | 0 / 4 |
| Insider bias | Sellers |
| 13F holders | 8 |
| Top-5 share | 97.6% |
| HHI | 3,863 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| Fidelity / FMR LLC | $1.77B | 7.72M |
| State Street Corp | $1.70B | 7.38M |
| Citadel Advisors | $236.34M | 1.03M |
| Bridgewater Associates | $86.85M | 378.49K |
| Capital Research / Capital World | $83.11M | 362.19K |
| AQR Capital Management | $80.74M | 351.89K |
| Millennium Management | $15.70M | 68.42K |
| T. Rowe Price Group | $488.91K | 2.13M |
As of 2026-06-30
Dividends
| Yield (TTM) | 0.65% |
|---|---|
| $ / share (TTM) | $1.53 |
| 5y CAGR | +14.9% |
Annual dividend per share
| 2021 | $1.04 |
|---|---|
| 2022 | $1.36 |
| 2023 | $1.70 |
| 2024 | $1.84 |
| 2025 | $2.00 |
| 2026 | $0.53 |
SEC Filings
The Long Run
FY 2009–2025 · 17 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $18.80B | +10.2% | |
| Gross profit | $2.39B | +11.8% | |
| Operating income | $3.15B | +10.0% | |
| Net income | $1.19B | +103.5% | |
| Cash from ops | $1.45B | +7.3% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $235.44 | $236.48 | $231.68 | $233.66 | 508.80K |
| Sep 24 | $233.74 | $237.76 | $233.29 | $235.20 | 563.00K |
| Sep 23 | $231.99 | $237.46 | $231.06 | $234.29 | 662.40K |
| Sep 22 | $229.99 | $234.42 | $229.53 | $233.99 | 920.80K |
| Sep 21 | $234.49 | $235.91 | $229.24 | $229.99 | 863.20K |
Understand the score. Research layers are inputs to a model, and the available data has limits.
Read the methodology →