# Steel Dynamics, Inc. (STLD) · Edgar & Edgarette company card

> Steel Dynamics (STLD) grew revenue 3.6% in FY2025 to $18.2 billion, operating margin 8.1% against a 6.8% median for steel works, blast furnaces & rolling mills (coke ovens), equity 54.6% of assets, and dividend per share up 13 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1022671 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/STLD) · [JSON](https://www.pops4.com/boards/company/STLD.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $18.2B |
| Revenue growth, 1 year | 3.6% |
| Revenue growth per year | -0.3% |
| Operating margin | 8.1% (prior year 11.1%) |
| Net margin | 6.5% |
| Operating cash flow | $1.4B |
| Capital spending | $948M |
| Free cash flow | $502M |
| Cash | $770M |
| Long-term debt | $4.2B |
| Total assets | $16.4B |
| Total equity | $9.0B |
| Equity ÷ assets | 54.6% |
| Return on equity | 13.3% |
| Dividend per share | $2 |
| Dividend years rising | 13 |

## Readings, computed from those figures

- Altman Z: 6.72 (safe zone)
- Piotroski F: 5 of 9 (middling)
- Beneish M: -2.4 (below the −1.78 line)
- Health Harbor boat: Sound ship · one warning sign · slow and jumpy: growing slower than its size class, with revenue that swings more
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $18.2B (FY2025), total debt $4.2B. Experience: revenue up 3.6% on the year, down 0.3% a year over 4 years; operating margin 8.1%, down from 11.1%. Soundness: equity 54.6% of assets, return on equity 13.3%, payout 24.5% of profit, dividend per share up 13 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $14.7B and $20.3B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $12.8B to $23.1B. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, its industry group): operating margin 8.1% against a 6.8% median; growth 3.6% against 5.7%.

Range logged 2026-09-26, receipt 5af81b10c8ecc0fc, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-08-04 ([filing](https://www.sec.gov/Archives/edgar/data/1022671/000110465926090129/0001104659-26-090129-index.htm))

## Recent filings

- 8-K · filed 2026-11-10 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1022671/000110465926125064/0001104659-26-125064-index.htm)
- 10-Q · filed 2026-10-23 · [filing](https://www.sec.gov/Archives/edgar/data/1022671/000110465926118461/0001104659-26-118461-index.htm)
- 8-K · filed 2026-10-20 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1022671/000110465926117217/0001104659-26-117217-index.htm)
- 8-K · filed 2026-10-19 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1022671/000110465926116898/0001104659-26-116898-index.htm)
- 8-K · filed 2026-09-18 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1022671/000110465926108777/0001104659-26-108777-index.htm)
- 8-K · filed 2026-08-14 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1022671/000110465926096861/0001104659-26-096861-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001022671.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1022671

## Cite

POPS4, Edgar & Edgarette: Steel Dynamics, Inc. (STLD) company card, from the company's own SEC filings, accessed 2026-11-10, https://www.pops4.com/boards/company/STLD. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.