Obermatt

Steel Dynamics

NSQ:STLD · US8581191009
Metals & MiningLarge

360

71
EV / EBIT46
Price / Owner Earnings17
Owner Earnings Yield65
Dividend Yield71
Price/Sales65
EV / Gross Profit5
Price/Book24
Return on Capital85
Cash Return on Capital79
Return on Equity86
EBIT Margin68
Gross Profitability55
Cash Conversion20
Accruals14
Owner Earnings Margin77
Sales growth37
Profit Growth92
Long-Term EPS Growth79
Reinvestment17
Price momentum78
Debt load34
Refinancing73
Debt Payback52
Liquidity63
Analyst ratings40
Opinion Changes81
Price Target Upside22
Market mood68
Value Creation20/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Steel Dynamics generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryUSA
IndustryMetals & Mining
SizeLarge
TypePublic Company
ExchangeNASDAQGS
Founded1993
Employees2,110
ISINUS8581191009
Last UpdateApr 2, 2026
Themes
Urban MiningDisposal and RecyclingGreen SteelIndustrial ManufacturingMiningPrecious MetalsRecycling

Description

Steel Dynamics, Inc. (SDI) operates as a primary industrial metals solutions company, with facilities located throughout the United States and Mexico. The company operates a circular manufacturing model, producing high-quality, lower-carbon-emission…

Analysis

Hope premium

Steel Dynamics, Inc. is priced well ahead of what the underlying numbers justify, a pattern we describe as a hope premium. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is expensive. The owner-earnings multiple stands at 34.4×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 13% a year, against analyst forecasts of 18%. The price, in other words, assumes less than the experts do.

Growth is solid; the safety picture is adequate. The company scores 20/20 on our value-creation score: strong value creator.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
74
2023202420252026

All-time high

99

Jan 2023

All-time low

32

Jan 2025

Average rank

65

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
65
60
62
74
Price/Earnings
36
48
83
91
Price/Book
24
28
23
40
Dividend Yield
71
58
63
53
Value (overall)
54
45
65
81

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →