Steel Dynamics (STLD) stock
Materials · Steel
Steel Dynamics (STLD) is a Steel company in the Materials sector, headquartered in Fort Wayne, Indiana. As of October 23, 2026, STLD closed at $241.53, a market capitalization of $34.35 billion, the 301st largest company in the S&P 500. Over the last twelve months it generated $22.22 billion in revenue (+35% year over year) and $955.56 million in free cash flow. The stock trades at 17.8x trailing earnings and 11.3x forward earnings.
- 1-year total return: +62.0% (dividends reinvested)
- 5-year return: +32.6% a year
- 52-week range: $150.03 – $288.74
- Gross margin 15.9%, operating margin 15.5%
- Dividend yield: 0.88%, 13 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 10th largest of 24 Materials stocks in the S&P 500
STLD price chart
1Y price change: +60.3% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| STLD | +3.3% | +43.6% | +62.0% | +36.6% | +32.6% | +27.3% | +15.9% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1996.
STLD key statistics
- Market cap
- $34.3B
- #301 in S&P 500
- P/E (TTM)
- 17.8x
- Forward P/E
- 11.3x
- EPS (TTM)
- $13.54
- Revenue (TTM)
- $22.2B
- +35%
- Free cash flow
- $955.6M
- Gross margin
- 15.9%
- Operating margin
- 15.5%
- Return on equity
- 20.8%
- Dividend yield
- 0.88%
- 52-week range
- $150.03 – $288.74
- Beta
- 1.49
- Price / sales
- 1.5x
- EV / EBITDA
- 11.8x
- Debt / equity
- 0.45x
- Employees
- 14,400
STLD report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth34.8%A
- Gross margin15.9%D
- Operating margin15.5%C
- FCF margin4.3%D
- Return on equity20.8%B
- Net debt / EBITDA1.1xC
- Forward P/E11.3xA
- PEG ratio11.9xF
- Shareholder yield3.5%B
- Share count change / yr-6.9%A
Steel Dynamics financials
Revenue went from $7.6B in fiscal 2016 to $18.2B in fiscal 2025, growing 10.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.6B | $9.4B | $11.8B | $10.5B | $9.6B | $18.4B | $22.3B | $18.8B | $17.5B | $18.2B |
| Gross profit | $1.3B | $1.6B | $2.3B | $1.5B | $1.4B | $5.4B | $6.1B | $4.0B | $2.8B | $2.4B |
| Operating income | $728.0M | $1.1B | $1.7B | $986.9M | $847.1M | $4.3B | $5.1B | $3.2B | $1.9B | $1.5B |
| Net income | $360.0M | $805.8M | $1.3B | $677.9M | $570.8M | $3.2B | $3.9B | $2.5B | $1.5B | $1.2B |
| EPS (diluted) | $1.56 | $3.36 | $5.35 | $3.04 | $2.59 | $15.56 | $20.92 | $14.64 | $9.84 | $7.99 |
| Free cash flow | $654.6M | $574.5M | $1.2B | $944.3M | -$211.0M | $1.2B | $3.6B | $1.9B | -$23.5M | $501.5M |
| Buybacks | $25.0M | $252.2M | $523.6M | $348.6M | $106.5M | $1.1B | $1.8B | $1.5B | $1.2B | $900.9M |
| Dividends paid | $135.8M | $145.6M | $168.9M | $200.3M | $209.2M | $213.0M | $237.2M | $271.3M | $282.6M | $291.2M |
| Diluted shares | 245.3M | 241.8M | 235.2M | 220.7M | 212.3M | 206.6M | 184.6M | 167.4M | 156.1M | 148.4M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into STLD?
A reverse DCF asks what growth the current price requires. With an enterprise value of $37.8B and $955.6M of trailing free cash flow, Steel Dynamics needs to grow free cash flow about 28.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 30.2x vs. median 13.2x (10th–90th percentile 5.4x–27.6x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
STLD dividend
- Dividend yield
- 0.88%
- Annual dividend
- $2.12
- Years of increases
- 13
- 5-yr dividend growth
- 14.9%
- per year
- Payout ratio
- 19%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
STLD analyst price targets
14 analysts' average 12-month target is $272.68 (+13% vs. $241.53). Targets range from $205.45 to $310.00. 64% rate it a buy.
STLD earnings
Next report: January 25, 2027.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 19, 2026 | $5.41 | $5.26 | -2.7% |
| Jul 20, 2026 | $3.67 | $3.69 | +0.6% |
| Apr 20, 2026 | $2.79 | $2.78 | -0.2% |
| Jan 26, 2026 | $1.69 | $1.82 | +7.9% |
| Oct 20, 2025 | $2.63 | $2.74 | +4.2% |
| Jul 21, 2025 | $2.08 | $2.01 | -3.5% |
| Apr 22, 2025 | $1.38 | $1.44 | +4.0% |
| Jan 22, 2025 | $1.29 | $1.36 | +5.5% |
Stocks like STLD
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 NUE Nucor | +0.02% | +89% | $58.6B | 20.6x | Compare |
 LIN Linde | -0.30% | +15% | $234.6B | 32.8x | Compare |
 NEM Newmont | -4.59% | +24% | $113.1B | 12.6x | Compare |
 FCX Freeport-McMoRan | +0.91% | +60% | $93.6B | 32.1x | Compare |
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STLD news
- Steel Dynamics Stock Has One Thing Left To Prove · Oct 22, 2026
- Steel Dynamics: 3 Key Takeaways for Long-Term Investors · Oct 21, 2026
- NUE Rides on Expansion Actions, Higher Steel Prices & Acquisitions · Oct 21, 2026
- Steel Dynamics (STLD) Stock Ignores Q3 Earnings As Aluminum Questions Linger · Oct 21, 2026
- Steel Dynamics (STLD) Q3 2026 Earnings Call Transcript · Oct 20, 2026
STLD stock FAQ
What is STLD's market cap?
Steel Dynamics's market capitalization is $34.35 billion as of October 23, 2026, ranking 301st in the S&P 500.
What is STLD's P/E ratio?
STLD trades at a trailing price-to-earnings ratio of 17.8x and a forward P/E of 11.3x. Its median P/E over the period we track is 13.2x.
Does STLD pay a dividend?
Yes. Steel Dynamics pays $2.12 per share a year, a 0.88% yield. It has raised its dividend 13 years in a row. Dividends grew 14.9% a year over the last five years.
How much has STLD stock returned?
Including reinvested dividends, STLD returned +62.0% over one year, +32.6% a year over five years, +27.3% a year over ten years through October 23, 2026.
Is STLD stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Steel Dynamics must grow free cash flow about 28% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the STLD price target?
14 analysts cover STLD with an average 12-month price target of $272.68, +13% from the current price. 64% of them rate it a buy.
When does STLD report earnings?
Steel Dynamics is expected to report earnings on January 25, 2027.
How many employees does Steel Dynamics have?
Steel Dynamics has about 14,400 full-time employees, or $1.5 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology