Steel Dynamics, Inc. Financial Ratios — STLD Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	12.62	6.93	7.64	5.75	-4.66	13.63	25.89	34.54	16.75	13.08	60.36	53.52	28.84	17.27	13.25
Return on Assets (%)	4.81	2.77	3.22	2.39	-1.94	6.05	12.24	17.29	8.4	6.28	29.49	28.94	16.86	10.3	7.56
Return on Capital (%)	8.66	6.27	6.27	5.62	- -	9.46	17.11	22.74	11.68	8.53	38.22	38.04	21.61	13.02	9.79
Return on Invested Capital (%)	7.92	5.79	5.12	3.36	- -	8.85	16.85	22.39	11.71	9.63	39.31	38.19	20.94	12.61	9.25
Gross Margin (%)	11.65	9.87	9.75	11.03	9.63	17.16	16.59	19.65	14.63	14.94	29.13	27.48	21.53	15.98	13.16
EBITDA Margin (%)	10.1	8.45	8.37	6.67	2.92	13.17	14.32	17.25	12.5	12.22	25.25	24.6	19.1	13.81	11.15
Operating Margin (%)	7.85	5.85	5.62	7.11	4.99	11.99	12.14	15.89	10.18	9.67	25.47	24.91	18.21	12.02	8.8
Incremental Operating Margin (%)	13.26	28.5	- -	15.03	20.98	302.85	12.83	31.55	59.95	15.82	42.7	22.2	61.21	104.81	- -
Pretax Margin (%)	5.31	2.8	3.56	1.88	-3.19	7.25	9.8	13.7	8.36	7.35	22.86	22.56	17.13	11.3	8.21
Profit Margin (%)	3.48	2.24	2.57	1.79	-1.72	4.91	8.52	10.64	6.41	5.74	17.46	17.35	13.04	8.76	6.52
Net Income to Common Margin (%)	3.48	2.24	2.57	1.79	-1.72	4.91	8.52	10.64	6.41	5.74	17.46	17.35	13.04	8.76	6.52
Effective Tax Rate (%)	37.38	30.28	37.79	44.39	- -	36.18	13.84	22.47	22.56	19.09	22.86	22.74	23.35	21.83	20.47
Dvd Payout Ratio (%)	32.33	72.42	68.85	401.05	-79.72	40.18	18.22	13.48	29.25	35.42	6.49	6.09	10.92	18.08	24.49
Sustainable Growth Rate (%)	8.54	1.91	2.38	-17.31	-8.37	8.15	21.17	29.88	11.85	8.45	56.44	50.26	25.69	14.15	10.01

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	2,380	2,202	2,108	2,982	2,595	2,357	2,382	2,377	2,734	3,103	3,106	3,071	3,071	3,231	4,211
ST Debt	444	30	342	46	17	4	29	24	89	87	97	57	460	427	35
LT Debt	1,936	2,173	1,766	2,935	2,578	2,353	2,353	2,352	2,645	3,016	3,009	3,013	2,611	2,804	4,177
Total Debt/EBITDA	2.95	3.57	3.41	5.11	11.7	2.3	1.74	1.17	2.09	2.65	0.67	0.56	0.86	1.33	2.08
Net Debt/EBITDA	2.46	2.96	2.77	4.49	8.42	1.48	0.99	0.76	1.03	1.48	0.4	0.26	0.47	1.09	1.7
Total Debt/EBIT	4.07	5.63	5.45	9.31	-35.65	3.24	2.23	1.38	2.77	3.66	0.72	0.6	0.97	1.66	2.85
Net Debt/EBIT	3.4	4.67	4.43	8.18	-25.66	2.08	1.27	0.9	1.37	2.05	0.43	0.28	0.53	1.36	2.33
EBITDA to Interest Expense	4.56	3.89	4.83	4.25	1.44	7.01	10.16	16.11	10.29	12.36	81.26	59.82	46.92	42.98	28.94
EBITDA-CapEx/Interest Expense	3.62	2.48	3.37	3.44	0.7	5.66	8.94	14.22	6.73	-0.26	63.67	49.89	25.25	9.83	15.41
EBIT to Interest Expense	3.55	2.69	3.25	4.53	2.46	6.38	8.62	14.83	8.38	9.78	81.97	60.57	44.76	37.41	22.83
Interest Expense	177	159	128	137	154	146	134	127	127	95	57	92	76	56	70
Common Equity/Total Assets	38.73	41.36	42.93	40.27	43.21	45.57	48.89	51.08	49.25	46.9	50.31	57.42	59.47	59.82	54.55
Long-Term Debt/Equity (%)	81.67	87.72	67.6	100.46	96.5	81.46	71.17	60.52	65.07	69.36	47.6	37.22	29.54	31.35	46.77
Long-Term Debt/Capital (%)	40.75	46.43	37.42	49.72	48.95	44.86	41.37	37.56	38.9	40.48	31.92	26.98	21.92	23.03	31.78
Long-Term Debt/Total Assets (%)	32.38	37.36	29.77	40.58	41.57	36.63	34.32	30.54	31.96	32.55	24.01	21.28	17.51	18.77	25.44
Total Debt/Equity (%)	100.4	88.92	80.68	102.05	97.13	81.59	72.04	61.14	67.27	71.35	49.14	37.93	34.74	36.12	47.16
Total Debt/Capital (%)	50.1	47.07	44.65	50.51	49.27	44.93	41.87	37.94	40.22	41.64	32.95	27.5	25.78	26.54	32.04
Total Debt/Total Assets (%)	39.81	37.87	35.52	41.22	41.84	36.69	34.74	30.85	33.04	33.49	24.79	21.68	20.6	21.63	25.65
Net Debt to Equity	83.92	73.74	65.55	89.69	69.91	52.46	40.93	39.84	33.28	39.88	29.46	17.81	18.89	29.53	38.53
Net Debt/Capital (%)	45.63	42.44	39.6	47.28	41.15	34.41	29.04	28.49	24.97	28.51	22.76	15.12	15.89	22.8	27.82
EBITDA	807	616	617	584	222	1,024	1,366	2,040	1,308	1,173	4,649	5,476	3,589	2,422	2,027
EBITDA-CapEx	640	393	431	472	107	826	1,201	1,800	856	-25	3,643	4,567	1,931	554	1,079
Operating Income (Loss)	628	426	415	622	379	932	1,158	1,878	1,065	928	4,689	5,544	3,423	2,108	1,599

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.43	0.67	0.41	0.42	1.36	1.18	1.18	1.04	1.63	1.09	0.56	1.11	0.91	0.34	0.36
Current Ratio	2.23	3.77	2.54	3.45	4.74	4.11	4.04	3.96	4.22	3.38	3.1	3.76	2.91	2.53	3.06
Quick Ratio	1.1	1.72	1.14	1.49	2.5	2.2	2.18	2.06	2.47	1.86	1.42	2.12	1.6	1	1.16
CFO/Avg Current Liab	0.59	0.52	0.39	0.69	1.52	1.37	0.94	1.5	1.38	0.87	1.26	2.09	1.61	0.82	0.68
Common Equity/Total Assets	38.73	41.36	42.93	40.27	43.21	45.57	48.89	51.08	49.25	46.9	50.31	57.42	59.47	59.82	54.55
Long-Term Debt/Equity (%)	81.67	87.72	67.6	100.46	96.5	81.46	71.17	60.52	65.07	69.36	47.6	37.22	29.54	31.35	46.77
Long-Term Debt/Capital (%)	40.75	46.43	37.42	49.72	48.95	44.86	41.37	37.56	38.9	40.48	31.92	26.98	21.92	23.03	31.78
Long-Term Debt/Total Assets (%)	32.38	37.36	29.77	40.58	41.57	36.63	34.32	30.54	31.96	32.55	24.01	21.28	17.51	18.77	25.44
Total Debt/Equity (%)	100.4	88.92	80.68	102.05	97.13	81.59	72.04	61.14	67.27	71.35	49.14	37.93	34.74	36.12	47.16
Total Debt/Capital (%)	50.1	47.07	44.65	50.51	49.27	44.93	41.87	37.94	40.22	41.64	32.95	27.5	25.78	26.54	32.04
Total Debt/Total Assets (%)	39.81	37.87	35.52	41.22	41.84	36.69	34.74	30.85	33.04	33.49	24.79	21.68	20.6	21.63	25.65
CFO/Total Liabilities	13.48	13.35	9.4	14.57	29.84	24.12	20.83	37.09	33.16	20.07	35.49	73.55	58	30.79	19.35
CFO/CapEx	2.91	1.99	1.67	5.62	9.2	4.3	4.48	5.91	3.09	0.82	2.19	4.91	2.12	0.99	1.53
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	12.24	10.68	10.82	10.79	10.02	11.58	11.93	12.36	11.09	10.57	12.75	11.21	10.26	11.6	11.73
Days Sales Outstanding	29.82	34.17	33.74	33.84	36.44	31.52	30.59	29.53	32.93	34.52	28.63	32.57	35.58	31.48	31.12
Inventory Turnover	6.11	5.47	5.29	5.31	4.96	5.31	5.69	5.62	5.04	4.62	4.85	4.85	4.9	4.91	4.61
Days Inventory Outstanding	59.76	66.72	69.04	68.72	73.6	68.69	64.1	64.91	72.48	78.94	75.18	75.31	74.54	74.4	79.23
Accounts Payable Turnover	18.92	16.83	17.46	17.48	16.1	19.36	18.54	18.92	16.47	12.97	14.37	13.7	13.79	14.46	14.84
Accounts Payable Turnover Days	19.29	21.68	20.9	20.88	22.68	18.85	19.69	19.29	22.16	28.13	25.39	26.64	26.48	25.24	24.59
Cash Conversion Cycle	70.29	79.21	81.88	81.68	87.37	81.36	75	75.14	83.25	85.33	78.43	81.23	83.65	80.65	85.76
Inventory to Cash Days	-29.93	-32.55	-35.31	-34.88	-37.16	-37.16	-33.51	-35.38	-39.55	-44.42	-46.55	-42.74	-38.96	-42.92	-48.1
Inventories	1,200	1,203	1,315	1,618	1,149	1,275	1,519	1,859	1,689	1,844	3,531	3,130	2,895	3,114	3,739
Raw Materials	861	873	954	1,139	816	899	1,050	1,248	1,185	1,291	2,423	2,237	1,938	2,129	2,558
Work In Process	107	83	85	129	90	104	129	195	155	163	402	256	297	269	414
Finished Goods	232	247	276	350	243	273	341	416	349	390	706	636	660	716	766
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	391	376	395	361	727	841	1,029	828	1,381	1,369	1,244	1,628	1,401	589	770
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	55	71	65	9	-8	-38	-45	-48	-11	3	16	-35	-27	11	-27
+ Total Debt	2,380	2,202	2,108	2,982	2,595	2,357	2,382	2,377	2,734	3,103	3,106	3,071	3,071	3,231	4,211
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Capital	4,751	4,679	4,720	5,904	5,266	5,246	5,688	6,264	6,799	7,451	9,426	11,166	11,911	12,176	13,142
Total Debt/Capital (%)	50.1	47.07	44.65	50.51	49.27	44.93	41.87	37.94	40.22	41.64	32.95	27.5	25.78	26.54	32.04
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	7,998	7,290	7,373	8,756	7,594	7,777	9,539	11,822	10,465	9,601	18,409	22,261	18,795	17,540	18,177
TTM EBITDA	807	616	617	584	222	1,024	1,366	2,040	1,308	1,173	4,649	5,476	3,589	2,422	2,027
TTM Operating Income	628	426	415	622	379	932	1,158	1,878	1,065	928	4,689	5,544	3,423	2,108	1,599
TTM Cash Flow to Firm	597	556	392	705	- -	946	855	1,514	1,495	1,064	2,248	4,531	3,579	1,889	1,505
TTM Free Cash Flow to Firm	430	333	205	593	- -	748	690	1,274	1,043	-134	1,242	3,622	1,921	21	557

Multiples (USD)

Valuation Multiples API ChatGPT

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Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	219	220	223	241	243	244	237	225	215	211	195	173	160	151	145
Diluted Weighted Avg Shares	236	237	239	242	242	245	242	235	221	212	207	185	167	156	148
Basic Weighted Avg Shares	218	219	221	233	242	244	240	234	220	211	205	183	167	155	148
Revenue per Share	36.61	33.26	33.37	37.65	31.38	31.93	39.72	50.54	47.65	45.47	89.75	121.38	112.85	112.86	122.98
EBITDA per Share	3.7	2.81	2.79	2.51	0.92	4.2	5.69	8.72	5.96	5.56	22.66	29.86	21.55	15.58	13.72
Operating Income per Share	2.87	1.95	1.88	2.68	1.57	3.83	4.82	8.03	4.85	4.4	22.86	30.23	20.55	13.56	10.82
Basic EPS, GAAP	1.27	0.75	0.86	0.68	-0.54	1.57	3.38	5.38	3.06	2.61	15.67	21.06	14.72	9.89	8.02
Basic EPS from Cont Ops	1.22	0.65	0.74	0.39	-0.6	1.48	3.36	5.37	3.09	2.7	15.83	21.15	14.81	9.97	8.03
Diluted EPS, GAAP	1.18	0.69	0.79	0.65	-0.54	1.56	3.36	5.35	3.04	2.59	15.56	20.92	14.64	9.84	7.99
Diluted EPS from Cont Ops	1.13	0.6	0.68	0.38	-0.6	1.47	3.33	5.34	3.07	2.69	15.71	21.01	14.74	9.93	8
Dividend per Share	0.37	0.4	0.43	0.45	0.53	0.56	0.61	0.72	0.91	0.99	1.04	1.29	1.63	1.82	1.97
Cash Flow per Share	2.23	2.03	1.41	2.7	4.35	3.5	3.08	6.05	6.36	4.67	10.75	24.32	21.13	11.87	9.81
Free Cash Flow per Basic Share	1.46	1.01	0.57	2.22	3.88	2.69	2.39	5.03	4.3	-1	5.84	19.37	11.18	-0.15	3.39
Cash & Equivalents per Share	2.17	1.86	1.77	1.5	2.99	3.45	4.33	4.69	7.66	6.49	6.38	13.05	13.26	4.88	5.31
Book Value per Share	10.58	10.96	11.43	12.06	11.02	12.01	14.12	17.47	19	20.6	32.33	47.01	55.41	59.12	61.8
Tangible Book Value per Share	5.12	5.7	6.41	7.44	8.24	9.23	11.41	14.36	15.36	16.89	28.49	42.56	50.82	54.46	56.22