Steel Dynamics revenue and financials
$238.17Change from previous close: −1.19%Absolute change: −$2.87
In the fiscal year ended December 2025, Steel Dynamics reported revenue of $18.18B (+3.63% year over year). Net income was $1.19B, a net margin of 6.5%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +3.63%
- 2025 vs 2024
- Net income growth
- −22.87%
- 2025 vs 2024
- Net margin
- 6.5%
- 2024: 8.8%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 428 | 148 | 273 | 723 | 302 | 153 | 347 | 760 | 383 | 355 | 865 | 1,114 |
| Depreciation and amortization | 174 | 159 | 146 | 138 | 133 | 134 | 126 | 121 | 117 | 115 | 112 | 107 |
| Capital expenditure | -124 | -138 | -188 | -166 | -288 | -306 | -453 | -621 | -419 | -374 | -515 | -558 |
| Investing cash flow | -118 | -139 | -370 | -121 | -306 | -179 | 51.2 | -852 | -210 | -293 | -735 | -453 |
| Financing cash flow | -299 | -223 | 96.8 | -290 | -725 | 623 | -824 | 277 | -382 | -424 | -494 | -371 |
| Dividends paid | -76.6 | -72.5 | -73.1 | -73.9 | -74.7 | -69.5 | -70.4 | -71.6 | -72.6 | -68.0 | -69.5 | -70.7 |
| Share repurchases | -200 | -115 | -240 | -210 | -200 | -250 | -295 | -310 | -309 | -298 | -387 | -331 |
| Debt issued | 695 | 599 | 1,255 | 408 | 484 | 1,406 | 337 | 1,186 | 581 | 379 | 299 | 346 |
| Debt repaid | -716 | -612 | -824 | -408 | -903 | -433 | -792 | -528 | -590 | -414 | -325 | -317 |
| Net change in cash | 11.2 | -214 | -0.4 | 312 | -729 | 597 | -426 | 185 | -209 | -362 | -365 | 290 |
| Free cash flow | 304 | 10.3 | 84.2 | 557 | 13.3 | -153 | -106 | 138 | -36.6 | -19.1 | 350 | 555 |
| Levered free cash flow | 140 | -85.0 | -139 | 317 | -126 | -163 | -181 | -73.4 | -66.2 | 1.1 | 249 | 485 |