# Steel Dynamics Inc (STLD) — Stock CV

Steel Dynamics Inc is a $34.2B industrial company. Revenue grew 19.8% over the last year, it keeps 8¢ of every dollar of sales as profit, and its net debt equals ~3.6 years of free cash flow. It trades at 21.3× earnings — in the most expensive third of its own history.

> Steel Dynamics Inc operates as a domestic steel producer and metal recycler in the United States. The company's product portfolio comprises hot rolled sheet, hot rolled plate, painted sheet products, cold rolled sheet, and others.

## Identity

- **Ticker**: STLD
- **Sector**: Industrials
- **Industry**: Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
- **Headquarters**: FORT WAYNE, IN
- **Employees**: 14 400
- **Website**: https://www.steeldynamics.com
- **Market cap**: $34.2B
- **Last price**: $238.38
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $20.5B
- **Net income**: $1.61B
- **Free cash flow**: $956M
- **Net debt**: $3.41B
- **P/E**: 21.3
- **Revenue growth (YoY)**: 19.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 42 |
| Growth | 50 |
| Profitability | 57 |
| Health | 87 |
| Quality | 70 |
| Moat | 50 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +19.8% YoY
- [x] Profitable — $1.61B TTM
- [ ] Profit growing — -27.4% YoY
- [x] Generates cash — $956M TTM
- [x] Debt under control — ~3.6y of cash flow to repay
- [x] Established company — $34.2B market cap
- [x] Not printing shares — -30.1% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [x] Financially stable — Altman Z 5.3 — safe
- [x] Pays a dividend — yield 0.87%
- [x] Valuation not extreme — P/E 21.3

## Experience (career milestones)

- **FY2022** — Best year on record: $3.86B net income
- **FY2018** — Revenue crossed $10B: $11.8B for the year
- **2018** — The company acquired the former Kentucky Electric Steel plant in Coalton, Kentucky
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $7.78B in first reported year
- **2016** — The company acquired Vulcan Threaded Products for $126 million
- **2014** — The company acquired Severstal Columbus for $1.625 billion
- **2007** — The company acquired The Techs, three hot-dip galvanization plants in Pittsburgh that coat flat-rolled steel
- **1993** — Steel Dynamics was founded in 1993 by three former executives of Nucor with $370 million in funding

## Strengths

- Revenue growing 19.8% year over year
- Interest covered 22.3× by operating earnings
- Altman Z-Score 5.27 — low bankruptcy-risk zone

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $18.4B | $3.21B | $1.20B |
| FY2022 | $22.3B | $3.86B | $3.55B |
| FY2023 | $18.8B | $2.45B | $1.86B |
| FY2024 | $17.5B | $1.54B | -$23.5M |
| FY2025 | $18.2B | $1.19B | $502M |

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Source: https://stockcv.com/STLD — derived from company filings; may be delayed or incomplete. Information, not investment advice.