Steel Dynamics, Inc. (STLD) Key Metrics
STLD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $34.48B
- Enterprise value
- $37.21B
- P/E (TTM)
- 21.8 10-yr median 11.4
- Forward P/E
- 10.0
- PEG ratio
- 10.91
- Price / sales
- 1.7 10-yr median 0.9
- Price / book
- 3.6 10-yr median 2.1
- EV / EBITDA
- 13.5 10-yr median 7.3
- Dividend yield
- 0.88% $2.12 a year
- Beta
- 1.49
STLD key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSTLD valuation Price multiples at each fiscal year-end price.
STLD returns How much profit the business earns on the capital it uses.
STLD per-share figures Results divided by the shares outstanding at year-end.
STLD financial health Debt, liquidity and how easily interest is covered.
STLD efficiency & capital use Working capital cycle and where the cash goes.
STLD valuation history
STLD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
STLD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
STLD cash returned to shareholders
STLD price vs earnings per share
STLD key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $25.15B | $17.81B | $19.77B | $18.04B | $12.82B | $7.83B | $7.51B | $7.07B | $10.43B | $8.73B |
| Enterprise value | $28.59B | $20.42B | $20.72B | $18.85B | $14.69B | $9.56B | $8.60B | $8.38B | $11.78B | $10.24B |
| P/E ratio | 21.2 | 11.6 | 8.1 | 4.7 | 4.0 | 14.2 | 11.2 | 5.6 | 12.8 | 22.8 |
| Price / sales | 1.4 | 1.0 | 1.1 | 0.8 | 0.7 | 0.8 | 0.7 | 0.6 | 1.1 | 1.1 |
| Price / book | 2.8 | 2.0 | 2.2 | 2.2 | 2.0 | 1.8 | 1.8 | 1.8 | 3.1 | 3.0 |
| Price / free cash flow | 50.1 | — | 10.6 | 5.1 | 10.7 | — | 8.0 | 6.0 | 18.1 | 13.3 |
| Price / operating cash flow | 17.3 | 9.7 | 5.6 | 4.0 | 5.8 | 7.9 | 5.4 | 5.0 | 14.1 | 10.2 |
| EV / sales | 1.6 | 1.2 | 1.1 | 0.8 | 0.8 | 1.0 | 0.8 | 0.7 | 1.2 | 1.3 |
| EV / EBITDA | 13.5 | 8.1 | 6.6 | 3.4 | 3.2 | 8.5 | 6.5 | 4.1 | 8.6 | 10.2 |
| EV / free cash flow | 57.0 | — | 11.1 | 5.3 | 12.3 | — | 9.1 | 7.1 | 20.5 | 15.6 |
| Earnings yield | 4.7% | 8.6% | 12.4% | 21.4% | 25.1% | 7.0% | 8.9% | 17.8% | 7.8% | 4.4% |
| Free cash flow yield | 2.0% | −0.1% | 9.4% | 19.7% | 9.3% | −2.7% | 12.6% | 16.6% | 5.5% | 7.5% |
| Dividend yield | 1.2% | 1.6% | 1.4% | 1.3% | 1.7% | 2.7% | 2.7% | 2.4% | 1.4% | 1.6% |
| Shareholder yield (dividends + buybacks) | 4.7% | 8.4% | 8.7% | 11.3% | 9.9% | 4.0% | 7.3% | 9.8% | 3.8% | 1.8% |
| Share price at fiscal year-end | $169.45 | $114.07 | $118.10 | $97.70 | $62.07 | $36.87 | $34.04 | $30.04 | $43.13 | $35.58 |
| Per share | ||||||||||
| Revenue per share | $122.48 | $112.34 | $112.26 | $120.57 | $89.10 | $45.22 | $47.41 | $50.26 | $39.45 | $31.70 |
| Earnings per share | $7.99 | $9.84 | $14.64 | $20.92 | $15.56 | $2.59 | $3.04 | $5.35 | $3.36 | $1.56 |
| Operating cash flow per share | $9.77 | $11.81 | $21.02 | $24.16 | $10.67 | $4.65 | $6.33 | $6.02 | $3.06 | $3.48 |
| Free cash flow per share | $3.38 | −$0.15 | $11.12 | $19.24 | $5.80 | −$0.99 | $4.28 | $5.00 | $2.38 | $2.67 |
| Cash per share | $5.19 | $4.72 | $12.67 | $12.22 | $6.02 | $6.45 | $7.45 | $4.49 | $4.25 | $3.43 |
| Book value per share | $60.36 | $57.22 | $52.96 | $44.04 | $30.51 | $20.46 | $18.46 | $16.73 | $13.86 | $11.93 |
| Tangible book value per share | $54.91 | $52.71 | $48.57 | $39.87 | $26.89 | $16.78 | $14.93 | $13.76 | $11.20 | $9.17 |
| Dividends per share | $1.96 | $1.81 | $1.62 | $1.28 | $1.03 | $0.99 | $0.91 | $0.72 | $0.60 | $0.55 |
| Capex per share | $6.39 | $11.96 | $9.90 | $4.92 | $4.87 | $5.64 | $2.05 | $1.02 | $0.68 | $0.81 |
| Debt per share | $28.38 | $21.43 | $18.34 | $16.63 | $15.03 | $14.61 | $12.39 | $10.11 | $9.85 | $9.61 |
| Shares outstanding | 148.4M | 156.1M | 167.4M | 184.6M | 206.6M | 212.3M | 220.7M | 235.2M | 241.8M | 245.3M |
| Change in shares outstanding | −5.0% | −6.7% | −9.3% | −10.6% | −2.7% | −3.8% | −6.1% | −2.7% | −1.4% | +1.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 13.3% | 17.3% | 28.8% | 53.5% | 60.4% | 13.1% | 16.8% | 34.5% | 25.9% | 13.6% |
| Return on invested capital (ROIC) | 9.8% | 14.2% | 25.8% | 46.0% | 46.6% | 12.2% | 14.7% | 26.8% | 20.1% | 10.3% |
| Return on assets (ROA) | 7.6% | 10.3% | 16.9% | 28.9% | 29.5% | 6.3% | 8.4% | 17.3% | 12.2% | 6.1% |
| Return on tangible assets | 7.6% | 10.8% | 17.3% | 28.8% | 27.3% | 6.5% | 9.0% | 18.0% | 13.1% | 6.6% |
| Free cash flow margin | 2.8% | −0.1% | 9.9% | 16.0% | 6.5% | −2.2% | 9.0% | 9.9% | 6.0% | 8.4% |
| Income quality (OCF / net income) | 1.22 | 1.20 | 1.44 | 1.15 | 0.69 | 1.79 | 2.08 | 1.12 | 0.91 | 2.23 |
| Financial health | ||||||||||
| Total debt | $4.21B | $3.35B | $3.07B | $3.07B | $3.11B | $3.10B | $2.73B | $2.38B | $2.38B | $2.36B |
| Cash & short-term investments | $769.9M | $737.3M | $2.12B | $2.26B | $1.24B | $1.37B | $1.64B | $1.06B | $1.03B | $841.5M |
| Net debt | $3.44B | $2.61B | $949.0M | $813.9M | $1.86B | $1.73B | $1.09B | $1.32B | $1.35B | $1.52B |
| Debt / equity | 0.47 | 0.37 | 0.35 | 0.38 | 0.49 | 0.71 | 0.67 | 0.60 | 0.71 | 0.81 |
| Debt / assets | 0.26 | 0.22 | 0.21 | 0.22 | 0.25 | 0.33 | 0.33 | 0.31 | 0.35 | 0.37 |
| Net debt / EBITDA | 1.63 | 1.04 | 0.30 | 0.15 | 0.40 | 1.54 | 0.82 | 0.64 | 0.99 | 1.51 |
| Current ratio | 3.06 | 2.53 | 2.91 | 3.76 | 3.10 | 3.38 | 4.22 | 3.96 | 4.04 | 4.11 |
| Quick ratio | 1.29 | 1.08 | 1.67 | 2.22 | 1.51 | 1.92 | 2.55 | 2.13 | 2.29 | 2.32 |
| Interest coverage | 21.1 | 34.5 | 41.2 | 55.6 | 75.2 | 8.9 | 7.8 | 13.6 | 7.9 | 5.0 |
| Working capital | $4.36B | $3.28B | $4.46B | $5.61B | $4.67B | $3.00B | $3.25B | $3.01B | $2.64B | $2.22B |
| Invested capital | $12.40B | $11.54B | $9.82B | $8.94B | $8.17B | $6.08B | $5.17B | $5.25B | $4.70B | $4.44B |
| Tangible asset value | $8.12B | $8.24B | $8.10B | $7.33B | $5.57B | $3.57B | $3.28B | $3.19B | $2.66B | $2.21B |
| Net current asset value | −$998.3M | −$558.6M | $718.9M | $1.57B | $690.0M | −$658.9M | $42.1M | $216.3M | −$41.1M | −$605.4M |
| Graham number | $104.16 | $112.58 | $132.07 | $143.98 | $103.34 | $34.56 | $35.54 | $44.88 | $32.38 | $20.45 |
| Graham net-net per share | −$24.13 | −$16.86 | −$7.72 | −$3.79 | −$8.54 | −$8.94 | −$4.94 | −$4.45 | −$4.59 | −$6.15 |
| Capital allocation | ||||||||||
| Dividends paid | $291.2M | $282.6M | $271.3M | $237.2M | $213.0M | $209.2M | $200.3M | $168.9M | $145.6M | $135.8M |
| Share buybacks (net) | $900.9M | $1.21B | $1.45B | $1.80B | $1.06B | $106.5M | $348.6M | $523.6M | $252.2M | $25.0M |
| Dividend payout ratio | 24.6% | 18.4% | 11.1% | 6.1% | 6.6% | 38.0% | 29.8% | 13.4% | 17.9% | 35.5% |
| Dividends + buybacks / free cash flow | 237.7% | — | 92.6% | 57.4% | 106.3% | — | 58.1% | 58.9% | 69.2% | 24.6% |
| Capex / revenue | 5.2% | 10.6% | 8.8% | 4.1% | 5.5% | 12.5% | 4.3% | 2.0% | 1.7% | 2.5% |
| Capex / operating cash flow | 65.4% | 101.3% | 47.1% | 20.4% | 45.7% | 121.4% | 32.4% | 16.9% | 22.3% | 23.2% |
| Capex / depreciation | 1.72 | 3.90 | 3.79 | 2.37 | 2.89 | 3.68 | 1.41 | 0.75 | 0.55 | 0.67 |
| Stock-based compensation / revenue | 0.4% | 0.4% | 0.3% | 0.3% | 0.3% | 0.6% | 0.5% | 0.4% | 0.4% | 0.4% |
| SG&A / revenue | 4.2% | 3.8% | 3.1% | 2.5% | 3.5% | 5.0% | 4.2% | 3.5% | 4.1% | 4.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 31.1 | 31.5 | 35.6 | 32.6 | 28.6 | 34.5 | 32.9 | 29.5 | 30.6 | 31.5 |
| Days of inventory on hand | 79.1 | 74.4 | 74.5 | 75.3 | 75.2 | 78.9 | 72.5 | 64.9 | 64.1 | 68.7 |
| Days payables outstanding | 25.5 | 25.6 | 26.1 | 26.0 | 28.7 | 28.7 | 21.7 | 20.0 | 20.3 | 19.2 |
| Cash conversion cycle (days) | 84.7 | 80.3 | 84.1 | 81.9 | 75.1 | 84.8 | 83.7 | 74.5 | 74.4 | 81.0 |
| Receivables turnover | 11.73 | 11.60 | 10.26 | 11.21 | 12.75 | 10.57 | 11.09 | 12.36 | 11.93 | 11.58 |
| Payables turnover | 14.30 | 14.25 | 14.01 | 14.05 | 12.73 | 12.73 | 16.79 | 18.26 | 17.99 | 18.99 |
| Inventory turnover | 4.62 | 4.91 | 4.90 | 4.85 | 4.85 | 4.62 | 5.04 | 5.62 | 5.69 | 5.31 |
| Asset turnover | 1.16 | 1.18 | 1.29 | 1.67 | 1.69 | 1.09 | 1.31 | 1.62 | 1.44 | 1.23 |
| Average receivables | $1.55B | $1.51B | $1.83B | $1.99B | $1.44B | $908.1M | $944.0M | $956.3M | $799.3M | $671.7M |
| Average payables | $1.11B | $1.03B | $1.05B | $1.15B | $1.03B | $641.4M | $532.0M | $520.1M | $442.3M | $339.3M |
| Average inventory | $3.43B | $3.00B | $3.01B | $3.33B | $2.69B | $1.77B | $1.77B | $1.69B | $1.40B | $1.21B |
| Intangibles / total assets | 4.9% | 4.7% | 4.9% | 5.4% | 6.0% | 8.4% | 9.4% | 9.1% | 9.4% | 10.5% |
Computed from STLD's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
STLD valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Steel Dynamics traded at 21.2 times earnings, against a 10-year median of 11.4. Based on the latest twelve months, the trailing P/E is 21.8 and the forward P/E is 10.0. Steel Dynamics earned a return on equity of 13.3% and a return on invested capital of 9.8% in fiscal 2025. It ended the year with $4.2 billion of debt and $769.9 million in cash and short-term investments, net debt of $3.4 billion. It returned $1.2 billion to shareholders: $291.2 million in dividends and $900.9 million in share buybacks, 238% of free cash flow. The share count fell 39.5% from 245.3M to 148.4M over 9 years.
See the STLD income statement, the STLD chart for price history, or the STLD stock overview for the latest quote and news.
STLD key metrics FAQ
What is Steel Dynamics's P/E ratio?
Steel Dynamics's trailing P/E ratio is 21.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.0. At the end of fiscal 2025 it was 21.2, compared with a 10-year median of 11.4.
What is Steel Dynamics's EV/EBITDA?
Steel Dynamics's enterprise value was 13.5 times EBITDA at the end of fiscal 2025 (enterprise value $28.6 billion, EBITDA $2.1 billion); the current EV/EBITDA is 13.5.
What is Steel Dynamics's return on equity?
Steel Dynamics's return on equity (ROE) was 13.3% in fiscal 2025: net income of $1.2 billion on average shareholders' equity of $8.9 billion.
What is Steel Dynamics's ROIC?
Steel Dynamics's return on invested capital was 9.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Steel Dynamics have?
Steel Dynamics had total debt of $4.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.47 and $3.4 billion of net debt (1.63 times EBITDA).
What is Steel Dynamics's dividend yield?
Steel Dynamics's forward dividend yield is 0.88%. Steel Dynamics paid $291.2 million in dividends in fiscal 2025 ($1.96 per share), a payout ratio of 24.6%.
Does Steel Dynamics buy back its shares?
Yes. Steel Dynamics spent $900.9 million on net share repurchases in fiscal 2025 Shares outstanding changed −5.0% over the year, to 148.4M..
What is Steel Dynamics's free cash flow yield?
Steel Dynamics generated $501.5 million of free cash flow in fiscal 2025, a free cash flow yield of 2.0% on its market value at year-end ($25.1 billion).
What is Steel Dynamics's current ratio?
Steel Dynamics's current ratio was 3.06 at the end of fiscal 2025: current assets were 3.06 times current liabilities.