Steel Dynamics Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $18.18B | $17.54B | $18.80B | $22.26B | $18.41B | $9.60B | $10.49B |
| Steel Operations | — | — | — | $12.30B | $15.12B | $14.04B | $7.05B | $7.71B |
| Metals Recycling Operations | — | — | — | $1.88B | $2.31B | $2.38B | $1.62B | $1.81B |
| Steel Fabrication Operations | — | — | — | $3.32B | $4.24B | $1.99B | $930.9M | $977.9M |
| Other Operations | — | — | — | $1.29B | $594.8M | $0 | $0 | $0 |
| Cost of Revenue | — | $15.78B | $14.74B | $14.75B | $16.14B | $13.05B | $8.17B | $8.93B |
| Gross Profit | — | $2.39B | $2.80B | $4.05B | $6.12B | $5.36B | $1.43B | $1.53B |
| Gross Margin | — | 13.2% | 16.0% | 21.5% | 27.5% | 29.1% | 14.9% | 14.6% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | $765.3M | $664.1M | $588.6M | $545.6M | $644.0M | — | — |
| Operating Income | — | $1.48B | $1.94B | $3.15B | $5.09B | $4.30B | $847.1M | $986.9M |
| Operating Margin | — | 8.1% | 11.1% | 16.8% | 22.9% | 23.4% | 8.8% | 9.4% |
| Interest Expense | — | — | — | $76.5M | $91.5M | $57.2M | $94.9M | $127.1M |
| Pretax Income | — | $1.49B | $1.98B | $3.22B | $5.02B | $4.21B | $705.5M | $875.3M |
| Income Tax Expense | — | $305.7M | $432.9M | $751.6M | $1.14B | $962.3M | $134.7M | $197.4M |
| Net Income | — | $1.19B | $1.54B | $2.45B | $3.86B | $3.21B | $570.8M | $677.9M |
| Net Margin | — | 6.5% | 8.8% | 13.0% | 17.4% | 17.5% | 5.9% | 6.5% |
| EPS (Basic) | — | $8.02 | $9.89 | $14.72 | $21.06 | $15.67 | $2.61 | $3.06 |
| EPS (Diluted) | — | $7.99 | $9.84 | $14.64 | $20.92 | $15.56 | $2.59 | $3.04 |
| Shares Outstanding (Basic) | 144.9M | 147.8M | 155.4M | 166.6M | 183.4M | 205.1M | 211.1M | 219.6M |
| Shares Outstanding (Diluted) | 144.9M | 148.4M | 156.1M | 167.4M | 184.6M | 206.6M | 212.3M | 220.7M |
| Dividends Per Share | — | $2.00 | $1.84 | $1.70 | $1.36 | $1.04 | $1.00 | $0.96 |