Steel Dynamics Inc. (STLD) stock — is it a good business?

Steel Dynamics Inc. (STLD) stock — is it a good business? — InspectStocks

How it makes money

Steel products72%
Recycled ferrous and nonferrous metals11%
Steel joists and deck8%
Aluminum products2%

Shares of revenue are estimates for FY2025, not figures from a filing.

Competes with

What it sells6

Sheet steel
Hot-rolled, cold-rolled, galvanized and painted steel coils used in vehicles, construction, appliances, pipes and other manufactured goods.
Long steel products
Beams, rails, reinforcing bars, engineered bars and other shapes used in construction, railroads, manufacturing and equipment.
Steel joists and deck
Steel supports and floor or roof decking used to build warehouses, stores, schools, factories and other non-residential buildings.

Show 3 more

Processed ferrous scrap
Prepared steel and iron scrap, including shredded and bundled scrap, sold for reuse in steelmaking and foundries.
Processed nonferrous scrap
Sorted and processed aluminum, copper, brass and stainless steel scrap sold to metal makers and other users.
Recycled-content aluminum coil
Flat aluminum coil made from scrap for beverage cans, vehicles and industrial uses.

Who buys it4

Manufacturers and original equipment makers buy steel for vehicles, machinery, appliances, pipes and other products, directly or through steel processors and service centers.
Steel fabricators, contractors, developers and building owners buy joists and decking for non-residential construction projects.
Steel mills, foundries, smelters and metal brokers buy processed ferrous and nonferrous scrap, often through monthly spot sales.
Beverage-can makers, automotive companies and industrial businesses buy aluminum products; some customers are also existing steel customers.

What it stands on, and what could break it

What the business leans on

1Steelmaking depends on a steady supply of ferrous scrap and other iron-bearing materials; changes in scrap prices can affect production costs and margins.
2Steel mills use substantial electricity, and energy prices and supply arrangements differ by facility.
3Demand and prices are tied to industries including construction, automotive, manufacturing, transportation and energy, as well as steel imports and trade conditions.
4The aluminum business depends on completing its mill start-up and production ramp and on a core group of significant customers.

What could go wrong

1Steel prices and sales can fluctuate with the economic cycle, global steel overcapacity and imports into the United States.
2Scrap may become more costly or harder to obtain, and higher raw-material or energy costs may not be passed on to customers quickly.
3The aluminum mill may encounter production ramp-up problems, while the aluminum business also depends on a core group of significant customers.

Full financial statements →

About Steel Dynamics Inc.

Steel Dynamics melts mostly recycled scrap in electric arc furnaces to make steel sheet, bars, beams and rails. It also processes scrap metal for resale and makes steel joists and decking used in non-residential buildings. Its newer aluminum business makes recycled-content aluminum coil for beverage cans, vehicles and industrial uses.

Head office: Fort Wayne, Indiana
Founded: 1993
Employees: Approximately 14,400 (Dec. 31, 2025, high)
Listed on: Nasdaq
Financial year ends: December 31

Built from Steel Dynamics Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Keep exploring

The themes Steel Dynamics is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Steel

Graded A or B and worth $2B or more: A first, then the largest.

Grade rose recently in Materials

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

How it makes money

Steel products72%
Recycled ferrous and nonferrous metals11%
Steel joists and deck8%
Aluminum products2%

Shares of revenue are estimates for FY2025, not figures from a filing.

Competes with

What it sells6

Sheet steel
Hot-rolled, cold-rolled, galvanized and painted steel coils used in vehicles, construction, appliances, pipes and other manufactured goods.
Long steel products
Beams, rails, reinforcing bars, engineered bars and other shapes used in construction, railroads, manufacturing and equipment.
Steel joists and deck
Steel supports and floor or roof decking used to build warehouses, stores, schools, factories and other non-residential buildings.

Show 3 more

Processed ferrous scrap
Prepared steel and iron scrap, including shredded and bundled scrap, sold for reuse in steelmaking and foundries.
Processed nonferrous scrap
Sorted and processed aluminum, copper, brass and stainless steel scrap sold to metal makers and other users.
Recycled-content aluminum coil
Flat aluminum coil made from scrap for beverage cans, vehicles and industrial uses.

Who buys it4

Manufacturers and original equipment makers buy steel for vehicles, machinery, appliances, pipes and other products, directly or through steel processors and service centers.
Steel fabricators, contractors, developers and building owners buy joists and decking for non-residential construction projects.
Steel mills, foundries, smelters and metal brokers buy processed ferrous and nonferrous scrap, often through monthly spot sales.
Beverage-can makers, automotive companies and industrial businesses buy aluminum products; some customers are also existing steel customers.

What it stands on, and what could break it

What the business leans on

1Steelmaking depends on a steady supply of ferrous scrap and other iron-bearing materials; changes in scrap prices can affect production costs and margins.
2Steel mills use substantial electricity, and energy prices and supply arrangements differ by facility.
3Demand and prices are tied to industries including construction, automotive, manufacturing, transportation and energy, as well as steel imports and trade conditions.
4The aluminum business depends on completing its mill start-up and production ramp and on a core group of significant customers.

What could go wrong

1Steel prices and sales can fluctuate with the economic cycle, global steel overcapacity and imports into the United States.
2Scrap may become more costly or harder to obtain, and higher raw-material or energy costs may not be passed on to customers quickly.
3The aluminum mill may encounter production ramp-up problems, while the aluminum business also depends on a core group of significant customers.

Full financial statements →

About Steel Dynamics Inc.

Head office: Fort Wayne, Indiana
Founded: 1993
Employees: Approximately 14,400 (Dec. 31, 2025, high)
Listed on: Nasdaq
Financial year ends: December 31

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Steel Dynamics Inc.

Keep exploring

The theme it is part of

Highest-graded in Steel

Grade rose recently in Materials

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Steel Dynamics Inc.

Keep exploring

The theme it is part of

Highest-graded in Steel

Grade rose recently in Materials

Steel Dynamics Inc.

Steel & aluminium

Growth & cash — 4 of 5

Business trend

Share price and grade over time

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Steel Dynamics Inc.

Keep exploring

The theme it is part of

Highest-graded in Steel

Grade rose recently in Materials

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Steel Dynamics Inc.

Keep exploring

The theme it is part of

Highest-graded in Steel

Grade rose recently in Materials

Steel Dynamics Inc.

Past performance

Steel & aluminium

Growth & cash — 4 of 5

Business trend

Share price and grade over time