Steel Dynamics Inc.

Steel Dynamics Inc.

STLD

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Market Cap$36.01B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Steel Dynamics Inc.Steel Dynamics Inc.22.70.82%17%1.80.4

Earnings Call Q2 2026

July 21, 2026 - AI Summary

Strong Q2 “core” steel performance; tailwind from pricing lag + value-added spreads - Record steel shipments: 3.7 million tons. - Adjusted EBITDA: $921M; net income: $534M ($3.69/share); revenues: $6.1B. - Steel operating income: $721M, +30% sequential, driven by higher realized steel pricing and improved value-added spreads to hot band (+$70/ton vs late 4Q’25 lows). - Management emphasized that ~80%+ of flat-rolled pricing is contract-linked with ~2-month lag, so recent price increases and improved spreads should help Q3 results. - No major negative takeaway in steel—utilization and spreads appear supportive.
Steel fabrication: demand strength + improving order/pricing, but realized pricing timing still matters - Fabrication operating income: $85M (roughly in line with Q1; offsetting effects: higher volume/steady pricing vs higher steel input costs). - Order activity strong: steel fabrication backlog +45% YoY. - Pricing: management cautioned that backlog pricing improvements won’t fully show up immediately—some projects are in later 2026 / 2027, so Q3 realized pricing may not jump as much as backlog pricing. - Expect pricing improvement over the next ~6–9 months, with volume supporting margins.
Metals recycling: steady earnings; scrap flows strong, ferrous spreads lower - Metals recycling operating income: $48M (in line sequentially). - Benefit from increased scrap availability/shipments (seasonally strong). - Challenge/offset: lower ferrous metal spreads. - Guidance tone: scrap pricing expected to stay relatively steady in coming months; also leaning into better scrap separation tech to increase recycled content and mitigate supply issues.

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$270.00

Target Price by Analysts

7.5% upsideSteel Dynamics Target Price DetailsTarget Price
$61.15

Current Fair Value

75.7% downside

Overvalued by 75.7% based on the discounted cash flow analysis.

Share Statistics

Market cap$36.01 Billion
Enterprise Value$39.66 Billion
Dividend Yield$2.06 (0.82%)
Earnings per Share$8.02
Beta1.54
Outstanding Shares144,397,000

Return

Return on Equity17.06%ROE
Return on Assets9.39%
Return on Invested Capital15.23%

Valuation & Multiples

P/E Ratio22.7P/E Ratio
PEG28.81PEG
Price to Sales1.77Price to Sales
Price to Book Ratio3.93Price to Book Ratio
Enterprise Value to Revenue1.93
Enterprise Value to EBIT17.57
Enterprise Value to Net Income24
Total Debt to Enterprise0.11
Debt to Equity0.45Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 21, 2026
EPS Estimate
$4.18
Average shareholder expectation
Revenue Estimate
$5.68 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 19, 2026
EPS Estimate
$5.31
Average shareholder expectation
Revenue Estimate
$6.28 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio16.0714 1526.50%
Total Calls1,400 99.85%
Total Puts22,500 97.06%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %4.33% 77.01%
Total Invested$1.44B 93.21%
Investors Holding415 550.00%

ESG Score

No data

About Steel Dynamics Inc.

CEO: Mark Millett

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official revenue estimates and technical analysis for all tax legislation. Its influence directly shapes corporate tax structures and policies that are critical for Steel Dynamics' financial planning and profitability.

Finance

This powerful committee drives tax policy (corporate rates, investment credits) and trade policy (tariffs, customs duties) which directly and significantly impact Steel Dynamics' profitability, capital investment, and competitiveness against imports.

Appropriations

This committee directly allocates federal spending for infrastructure, defense, and other government projects that consume large amounts of steel, thereby directly affecting demand and order books for companies like Steel Dynamics.

Health, Education, Labor, and Pensions

This committee's jurisdiction over labor laws, including minimum wage and union regulations, directly impacts Steel Dynamics' workforce costs and operational environment, which are significant for heavy manufacturing.

Banking, Housing, and Urban Affairs

This committee's regulation of financial systems impacts Steel Dynamics' access to capital and borrowing costs. Its influence on housing and urban development directly affects demand for steel in construction.

Energy and Natural Resources

This committee dictates national energy policy, which directly affects the cost of electricity and natural gas, critical inputs for energy-intensive steel production. It also influences regulations for mining and resource extraction relevant to raw materials.

Environment and Public Works

This committee directly impacts steel demand through federal highway and infrastructure programs. Its regulation of the EPA also sets environmental compliance costs for steel mills, a significant operational factor for Steel Dynamics.

Foreign Relations

U.S. foreign policy, particularly sanctions and trade agreements, can heavily influence steel tariffs (e.g., Section 232), global steel prices, and raw material access, directly impacting Steel Dynamics.