Steel Dynamics Inc
Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through four segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Aluminum Operations. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, large … Read more
Steel Dynamics Inc (STLD) - Net Assets
Latest net assets as of December 2025: $8.93 Billion USD
Based on the latest financial reports, Steel Dynamics Inc (STLD) has net assets worth $8.93 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($16.41 Billion) and total liabilities ($7.48 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $8.93 Billion |
| % of Total Assets | 54.41% |
| Annual Growth Rate | 17.95% |
| 5-Year Change | 41.3% |
| 10-Year Change | 209.15% |
| Growth Volatility | 56.52 |
Steel Dynamics Inc - Net Assets Trend (1995–2025)
This chart illustrates how Steel Dynamics Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Steel Dynamics Inc (1995–2025)
The table below shows the annual net assets of Steel Dynamics Inc from 1995 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $8.93 Billion | -0.17% |
| 2024-12-31 | $8.95 Billion | +1.20% |
| 2023-12-31 | $8.84 Billion | +9.19% |
| 2022-12-31 | $8.10 Billion | +28.09% |
| 2021-12-31 | $6.32 Billion | +45.35% |
| 2020-12-31 | $4.35 Billion | +6.97% |
| 2019-12-31 | $4.06 Billion | +4.57% |
| 2018-12-31 | $3.89 Billion | +17.57% |
| 2017-12-31 | $3.31 Billion | +14.46% |
| 2016-12-31 | $2.89 Billion | +8.13% |
| 2015-12-31 | $2.67 Billion | -8.57% |
| 2014-12-31 | $2.92 Billion | +11.85% |
| 2013-12-31 | $2.61 Billion | +5.48% |
| 2012-12-31 | $2.48 Billion | +4.47% |
| 2011-12-31 | $2.37 Billion | +11.24% |
| 2010-12-31 | $2.13 Billion | +6.38% |
| 2009-12-31 | $2.00 Billion | +22.73% |
| 2008-12-31 | $1.63 Billion | +5.98% |
| 2007-12-31 | $1.54 Billion | +24.97% |
| 2006-12-31 | $1.23 Billion | +39.90% |
| 2005-12-31 | $880.99 Million | +3.70% |
| 2004-12-31 | $849.59 Million | +44.53% |
| 2003-12-31 | $587.85 Million | +11.70% |
| 2002-12-31 | $526.29 Million | +24.32% |
| 2001-12-31 | $423.34 Million | +0.11% |
| 2000-12-31 | $422.87 Million | +7.55% |
| 1999-12-31 | $393.20 Million | +11.99% |
| 1998-12-31 | $351.10 Million | +4.00% |
| 1997-12-31 | $337.60 Million | +27.59% |
| 1996-12-31 | $264.60 Million | +320.00% |
| 1995-12-31 | $63.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Steel Dynamics Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1571894200000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $15.69 Billion | 175.16% |
| Common Stock | $653.00K | 0.01% |
| Other Comprehensive Income | $-598.00K | -0.01% |
| Total Equity | $8.96 Billion | 100.00% |
Steel Dynamics Inc Competitors by Market Cap
The table below lists competitors of Steel Dynamics Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Citizens Financial Group, Inc.
NYSE:CFG
|
$23.71 Billion |
|
Pan American Silver Corp.
NYSE:PAAS
|
$23.77 Billion |
|
Coterra Energy Inc
NYSE:CTRA
|
$23.80 Billion |
|
Sumitomo Realty & Development Co. Ltd
PINK:SURDF
|
$23.82 Billion |
|
Darden Restaurants Inc
NYSE:DRI
|
$23.69 Billion |
|
Jabil Inc
F:JBL
|
$23.66 Billion |
|
The Hartford Financial Services Group, Inc.
SA:H1IG34
|
$23.63 Billion |
|
Restaurant Brands International Inc
NYSE:QSR
|
$23.62 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Steel Dynamics Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 8,934,287,000 to 8,957,182,000, a change of 22,895,000 (0.3%).
- Net income of 1,185,595,000 contributed positively to equity growth.
- Dividend payments of 291,176,000 reduced retained earnings.
- Share repurchases of 900,870,000 reduced equity.
- Other comprehensive income decreased equity by 598,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.19 Billion | +13.24% |
| Dividends Paid | $291.18 Million | -3.25% |
| Share Repurchases | $900.87 Million | -10.06% |
| Other Comprehensive Income | $-598.00K | -0.01% |
| Other Changes | $29.94 Million | +0.33% |
| Total Change | $- | 0.26% |
Book Value vs Market Value Analysis
This analysis compares Steel Dynamics Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.89x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 355.16x to 2.89x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-12-31 | $0.49 | $174.28 | x |
| 1996-12-31 | $1.91 | $174.28 | x |
| 1997-12-31 | $1.73 | $174.28 | x |
| 1998-12-31 | $1.80 | $174.28 | x |
| 1999-12-31 | $2.03 | $174.28 | x |
| 2000-12-31 | $2.23 | $174.28 | x |
| 2001-12-31 | $2.28 | $174.28 | x |
| 2002-12-31 | $2.75 | $174.28 | x |
| 2003-12-31 | $2.67 | $174.28 | x |
| 2004-12-31 | $3.75 | $174.28 | x |
| 2005-12-31 | $4.26 | $174.28 | x |
| 2006-12-31 | $5.82 | $174.28 | x |
| 2007-12-31 | $7.77 | $174.28 | x |
| 2008-12-31 | $8.35 | $174.28 | x |
| 2009-12-31 | $9.91 | $174.28 | x |
| 2010-12-31 | $8.92 | $174.28 | x |
| 2011-12-31 | $9.81 | $174.28 | x |
| 2012-12-31 | $10.17 | $174.28 | x |
| 2013-12-31 | $10.66 | $174.28 | x |
| 2014-12-31 | $12.03 | $174.28 | x |
| 2015-12-31 | $11.07 | $174.28 | x |
| 2016-12-31 | $11.93 | $174.28 | x |
| 2017-12-31 | $13.86 | $174.28 | x |
| 2018-12-31 | $16.73 | $174.28 | x |
| 2019-12-31 | $18.46 | $174.28 | x |
| 2020-12-31 | $20.46 | $174.28 | x |
| 2021-12-31 | $30.51 | $174.28 | x |
| 2022-12-31 | $44.04 | $174.28 | x |
| 2023-12-31 | $52.96 | $174.28 | x |
| 2024-12-31 | $57.22 | $174.28 | x |
| 2025-12-31 | $60.36 | $174.28 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Steel Dynamics Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.24%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.52%
- • Asset Turnover: 1.11x
- • Equity Multiplier: 1.83x
- Recent ROE (13.24%) is below the historical average (15.10%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | -31.59% | -19900.00% | 0.00x | 5.09x | $-26.20 Million |
| 1996 | -3.74% | -3.92% | 0.48x | 1.97x | $-36.36 Million |
| 1997 | 13.03% | 10.47% | 0.66x | 1.90x | $10.24 Million |
| 1998 | 9.03% | 6.16% | 0.57x | 2.58x | $-3.41 Million |
| 1999 | 10.07% | 6.37% | 0.62x | 2.53x | $260.00K |
| 2000 | 12.85% | 7.77% | 0.65x | 2.55x | $11.92 Million |
| 2001 | 0.75% | 0.52% | 0.51x | 2.82x | $-38.71 Million |
| 2002 | 14.93% | 9.01% | 0.68x | 2.45x | $25.71 Million |
| 2003 | 8.03% | 4.78% | 0.68x | 2.47x | $-11.58 Million |
| 2004 | 34.86% | 13.77% | 1.24x | 2.05x | $210.60 Million |
| 2005 | 25.21% | 10.15% | 1.24x | 2.00x | $133.80 Million |
| 2006 | 32.22% | 12.25% | 1.44x | 1.83x | $273.60 Million |
| 2007 | 25.80% | 9.00% | 0.97x | 2.96x | $241.65 Million |
| 2008 | 28.54% | 5.73% | 1.54x | 3.24x | $301.00 Million |
| 2009 | -0.41% | -0.21% | 0.77x | 2.58x | $-207.01 Million |
| 2010 | 6.72% | 2.23% | 1.13x | 2.67x | $-68.58 Million |
| 2011 | 12.01% | 3.48% | 1.34x | 2.58x | $46.53 Million |
| 2012 | 6.80% | 2.24% | 1.25x | 2.42x | $-77.00 Million |
| 2013 | 7.43% | 2.57% | 1.24x | 2.33x | $-65.42 Million |
| 2014 | 5.39% | 1.79% | 1.20x | 2.51x | $-134.28 Million |
| 2015 | -4.86% | -1.72% | 1.22x | 2.31x | $-398.28 Million |
| 2016 | 13.05% | 4.91% | 1.21x | 2.19x | $89.41 Million |
| 2017 | 24.25% | 8.52% | 1.39x | 2.05x | $477.58 Million |
| 2018 | 31.98% | 10.64% | 1.53x | 1.96x | $864.87 Million |
| 2019 | 16.47% | 6.41% | 1.26x | 2.03x | $263.52 Million |
| 2020 | 12.68% | 5.74% | 1.04x | 2.13x | $116.31 Million |
| 2021 | 50.98% | 17.46% | 1.47x | 1.99x | $2.58 Billion |
| 2022 | 47.51% | 17.35% | 1.57x | 1.74x | $3.05 Billion |
| 2023 | 27.64% | 13.04% | 1.26x | 1.68x | $1.56 Billion |
| 2024 | 17.20% | 8.76% | 1.17x | 1.67x | $643.71 Million |
| 2025 | 13.24% | 6.52% | 1.11x | 1.83x | $289.88 Million |
Industry Comparison
This section compares Steel Dynamics Inc's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $10,879,360,340
- Average return on equity (ROE) among peers: 3.47%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Steel Dynamics Inc (STLD) | $8.93 Billion | -31.59% | 0.84x | $23.69 Billion |
| Acerinox S.A. (ACRXF) | $1.93 Billion | -3.09% | 1.28x | $1.71 Billion |
| ArcelorMittal SA (AMSYF) | $11.98 Billion | 27.55% | 1.59x | $12.85 Billion |
| Angang Steel Company Limited (ANGGF) | $50.39 Billion | 11.12% | 0.77x | $641.51 Million |
| Aperam PK (APEMY) | $3.79 Billion | 7.21% | 0.73x | $1.17 Billion |
| Aperam SA (APMSF) | $2.52 Billion | 11.35% | 0.72x | $1.31 Billion |
| ArcelorMittal South Africa Ltd (ARCXF) | $28.00 Billion | 33.51% | 0.34x | $14.02 Million |
| Algoma Steel Group Inc (ASTL) | $173.80 Million | -92.29% | 7.94x | $268.31 Million |
| Algoma Steel Group Inc. Warrant (ASTLW) | $-530.90 Million | 0.00% | 0.00x | $6.22 Million |
| BCI Minerals Limited (BIRNF) | $103.61 Million | 12.45% | 0.26x | $227.67 Million |
| BlueScope Steel Limited (BLSFF) | $10.45 Billion | 26.90% | 0.59x | $5.72 Billion |