Financials in USD. Standardized financial statements.
A compact view of how Steel Dynamics, Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $18.18B | $17.54B | $18.80B | $22.26B | $18.41B | $9.60B | $10.46B | $11.82B | $9.54B | $7.78B |
| Revenue Growth? | +3.6% | -6.7% | -15.6% | +20.9% | +91.7% | -8.3% | -11.5% | +23.9% | +22.7% | 0.0% |
| Cost of Revenue? | $15.81B | $14.74B | $14.75B | $16.14B | $13.05B | $8.17B | $8.93B | $9.50B | $7.96B | $6.44B |
| Gross Profit? | $2.36B | $2.80B | $4.05B | $6.12B | $5.36B | $1.43B | $1.53B | $2.32B | $1.58B | $1.33B |
| Gross Margin? | +13.0% | +16.0% | +21.5% | +27.5% | +29.1% | +14.9% | +14.6% | +19.6% | +16.6% | +17.2% |
| Operating Expenses? | $888.29M | $859.55M | $894.70M | $1.03B | $1.06B | $587.59M | $544.10M | $600.40M | $515.13M | $606.90M |
| Operating Income? | $1.48B | $1.94B | $3.15B | $5.09B | $4.30B | $847.14M | $986.88M | $1.72B | $1.07B | $727.97M |
| EBITDA? | $2.11B | $2.52B | $3.73B | $5.50B | $4.61B | $1.13B | $1.32B | $2.06B | $1.37B | $1.01B |
| Income Before Tax | $1.49B | $1.98B | $3.22B | $5.02B | $4.21B | $705.48M | $875.34M | $1.62B | $935.24M | $564.13M |
| Income Tax Expense | $305.66M | $432.93M | $751.61M | $1.14B | $962.26M | $134.65M | $197.44M | $363.97M | $129.44M | $204.13M |
| Net Income? | $1.19B | $1.54B | $2.45B | $3.86B | $3.21B | $550.82M | $671.10M | $1.26B | $812.74M | $382.12M |
| EPS? | $8.02 | $9.89 | $14.72 | $21.06 | $15.67 | $2.61 | $3.06 | $5.38 | $3.38 | $1.57 |
| Diluted EPS? | $7.99 | $9.84 | $14.64 | $20.92 | $15.56 | $2.59 | $3.04 | $5.35 | $3.36 | $1.56 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality