Steel Dynamics Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	18,177	17,540	18,795	22,261	18,409
Revenue Growth (YoY)	3.63%	-6.68%	-15.57%	20.92%	91.73%
Cost of Revenue	15,784	14,738	14,749	16,143	13,046
Gross Profit	2,392	2,803	4,046	6,118	5,362
Selling, General & Admin	888.29	829.02	860.65	998.17	1,032
Amortization of Goodwill & Intangibles	27.9	30.53	34.05	27.84	29.23
Operating Expenses	916.2	859.55	894.7	1,026	1,061
Operating Income	1,476	1,943	3,151	5,092	4,301
Interest Expense	-70.04	-56.35	-76.48	-91.54	-57.21
Interest & Investment Income	-	90.1	111.9	29.3	-
Currency Exchange Gain (Loss)	-	-18.7	10.5	-	-
Other Non Operating Income (Expenses)	87.03	24.79	21.85	-8.52	-34.83
EBT Excluding Unusual Items	1,493	1,983	3,219	5,021	4,209
Pretax Income	1,493	1,983	3,219	5,021	4,209
Income Tax Expense	305.66	432.93	751.61	1,142	962.26
Earnings From Continuing Operations	1,187	1,550	2,467	3,879	3,247
Minority Interest in Earnings	-1.72	-12.82	-16.45	-16.82	-32.75
Net Income	1,186	1,537	2,451	3,863	3,214
Net Income to Common	1,186	1,537	2,451	3,863	3,214
Net Income Growth	-22.87%	-37.28%	-36.55%	20.18%	483.50%
Shares Outstanding (Basic)	148	155	167	183	205
Shares Outstanding (Diluted)	148	156	167	185	207
Shares Change (YoY)	-4.95%	-6.75%	-9.31%	-10.64%	-2.70%
EPS (Basic)	8.02	9.89	14.72	21.06	15.67
EPS (Diluted)	7.99	9.84	14.64	20.92	15.56
EPS Growth	-18.80%	-32.79%	-30.02%	34.45%	500.77%
Free Cash Flow	501.51	-23.5	1,862	3,552	1,198
Free Cash Flow Per Share	3.38	-0.15	11.12	19.24	5.80
Dividend Per Share	2.000	1.840	1.700	1.360	1.040
Dividend Growth	8.70%	8.24%	25.00%	30.77%	4.00%
Gross Margin	13.16%	15.98%	21.53%	27.48%	29.13%
Operating Margin	8.12%	11.08%	16.77%	22.87%	23.36%
Profit Margin	6.52%	8.76%	13.04%	17.35%	17.46%
Free Cash Flow Margin	2.76%	-0.13%	9.91%	15.95%	6.51%
EBITDA	2,027	2,422	3,589	5,476	4,649
EBITDA Margin	11.15%	13.81%	19.10%	24.60%	25.25%
D&A For EBITDA	551.39	478.91	437.8	384.2	347.65
EBIT	1,476	1,943	3,151	5,092	4,301
EBIT Margin	8.12%	11.08%	16.77%	22.87%	23.36%
Effective Tax Rate	20.47%	21.83%	23.35%	22.74%	22.86%
Revenue as Reported	-	17,540	18,795	22,261	18,409

Updated Jan 26, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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