Steel Dynamics annual operating margin
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2025
Steel Dynamics Operating Margin Growth & History (STLD)
Steel Dynamics's operating margin was 8.12% for fiscal 2025.
View full Steel Dynamics company overviewSteel Dynamics annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 8.12% | −2.96 pp |
| 2024 | 2024-12-31 | 11.08% | −5.69 pp |
| 2023 | 2023-12-31 | 16.77% | −6.11 pp |
| 2022 | 2022-12-31 | 22.87% | −0.49 pp |
| 2021 | 2021-12-31 | 23.36% | +14.53 pp |
| 2020 | 2020-12-31 | 8.84% | −0.61 pp |
| 2019 | 2019-12-31 | 9.44% | −5.15 pp |
| 2018 | 2018-12-31 | 14.59% | +3.20 pp |
| 2017 | 2017-12-31 | 11.39% | +1.82 pp |
| 2016 | 2016-12-31 | 9.57% | +10.53 pp |
| 2015 | 2015-12-31 | −0.96% | −4.62 pp |
| 2014 | 2014-12-31 | 3.66% | −1.58 pp |
| 2013 | 2013-12-31 | 5.24% | −0.12 pp |
| 2012 | 2012-12-31 | 5.37% | −1.95 pp |
| 2011 | 2011-12-31 | 7.31% | +1.52 pp |
| 2010 | 2010-12-31 | 5.79% | +2.77 pp |
| 2009 | 2009-12-31 | 3.02% | −7.45 pp |
| 2008 | 2008-12-31 | 10.47% | −5.28 pp |
| 2007 | 2007-12-31 | 15.75% | — |
Steel Dynamics quarterly operating margin
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Q2.23
Q3.23
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Q2.24
Q3.24
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Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 11.50% | +3.11 pp |
| Q1 2026 | 2026-03-31 | 10.34% | +4.04 pp |
| Q4 2025 | 2025-12-31 | 7.03% | +0.89 pp |
| Q3 2025 | 2025-09-30 | 10.52% | +1.41 pp |
| Q2 2025 | 2025-06-30 | 8.39% | −3.68 pp |
| Q1 2025 | 2025-03-31 | 6.30% | −9.70 pp |
| Q4 2024 | 2024-12-31 | 6.13% | −6.12 pp |
| Q3 2024 | 2024-09-30 | 9.11% | −6.88 pp |
| Q2 2024 | 2024-06-30 | 12.07% | −8.86 pp |
| Q1 2024 | 2024-03-31 | 16.00% | −1.07 pp |
| Q4 2023 | 2023-12-31 | 12.25% | −1.69 pp |
| Q3 2023 | 2023-09-30 | 15.99% | −6.44 pp |
| Q2 2023 | 2023-06-30 | 20.93% | −6.20 pp |
| Q1 2023 | 2023-03-31 | 17.07% | −10.56 pp |
| Q4 2022 | 2022-12-31 | 13.94% | −12.85 pp |
| Q3 2022 | 2022-09-30 | 22.43% | −3.59 pp |
| Q2 2022 | 2022-06-30 | 27.13% | +5.67 pp |
| Q1 2022 | 2022-03-31 | 27.63% | +10.83 pp |
| Q4 2021 | 2021-12-31 | 26.78% | +16.81 pp |
| Q3 2021 | 2021-09-30 | 26.02% | +19.32 pp |
| Q2 2021 | 2021-06-30 | 21.46% | +13.87 pp |
| Q1 2021 | 2021-03-31 | 16.80% | +6.15 pp |
| Q4 2020 | 2020-12-31 | 9.97% | +2.21 pp |
| Q3 2020 | 2020-09-30 | 6.70% | −2.34 pp |
| Q2 2020 | 2020-06-30 | 7.59% | −2.71 pp |
| Q1 2020 | 2020-03-31 | 10.64% | +0.27 pp |
| Q4 2019 | 2019-12-31 | 7.75% | −4.85 pp |
| Q3 2019 | 2019-09-30 | 9.04% | −7.47 pp |
| Q2 2019 | 2019-06-30 | 10.30% | −5.97 pp |
| Q1 2019 | 2019-03-31 | 10.37% | −2.08 pp |
| Q4 2018 | 2018-12-31 | 12.61% | +3.54 pp |
| Q3 2018 | 2018-09-30 | 16.50% | +5.41 pp |
| Q2 2018 | 2018-06-30 | 16.27% | +5.18 pp |
| Q1 2018 | 2018-03-31 | 12.45% | −1.68 pp |
| Q4 2017 | 2017-12-31 | 9.06% | +5.85 pp |
| Q3 2017 | 2017-09-30 | 11.09% | −2.42 pp |
| Q2 2017 | 2017-06-30 | 11.10% | −1.56 pp |
| Q1 2017 | 2017-03-31 | 14.13% | +6.55 pp |
| Q4 2016 | 2016-12-31 | 3.22% | +27.17 pp |
| Q3 2016 | 2016-09-30 | 13.51% | +6.79 pp |
| Q2 2016 | 2016-06-30 | 12.65% | +8.79 pp |
| Q1 2016 | 2016-03-31 | 7.58% | +2.71 pp |
| Q4 2015 | 2015-12-31 | −23.96% | −20.73 pp |
| Q3 2015 | 2015-09-30 | 6.72% | −1.35 pp |
| Q2 2015 | 2015-06-30 | 3.87% | −2.50 pp |
| Q1 2015 | 2015-03-31 | 4.87% | +0.45 pp |
| Q4 2014 | 2014-12-31 | −3.22% | −9.01 pp |
| Q3 2014 | 2014-09-30 | 8.07% | +2.14 pp |
| Q2 2014 | 2014-06-30 | 6.37% | +2.53 pp |
| Q1 2014 | 2014-03-31 | 4.42% | −0.94 pp |
| Q4 2013 | 2013-12-31 | 5.78% | +0.22 pp |
| Q3 2013 | 2013-09-30 | 5.93% | +1.63 pp |
| Q2 2013 | 2013-06-30 | 3.84% | −1.59 pp |
| Q1 2013 | 2013-03-31 | 5.36% | −0.69 pp |
| Q4 2012 | 2012-12-31 | 5.57% | +1.13 pp |
| Q3 2012 | 2012-09-30 | 4.29% | −1.03 pp |
| Q2 2012 | 2012-06-30 | 5.43% | −3.62 pp |
| Q1 2012 | 2012-03-31 | 6.05% | −4.14 pp |
| Q4 2011 | 2011-12-31 | 4.44% | +1.37 pp |
| Q3 2011 | 2011-09-30 | 5.32% | +0.97 pp |
| Q2 2011 | 2011-06-30 | 9.05% | +1.91 pp |
| Q1 2011 | 2011-03-31 | 10.18% | +1.68 pp |
| Q4 2010 | 2010-12-31 | 3.06% | −9.60 pp |
| Q3 2010 | 2010-09-30 | 4.36% | +3.56 pp |
| Q2 2010 | 2010-06-30 | 7.14% | −5.76 pp |
| Q1 2010 | 2010-03-31 | 8.50% | −6.42 pp |
| Q3 2009 | 2009-09-30 | 12.66% | — |
| Q2 2009 | 2009-06-30 | 0.79% | — |
| Q3 2008 | 2008-09-30 | 12.91% | — |
| Q2 2008 | 2008-06-30 | 14.93% | — |
Steel Dynamics operating margin trends
Over the last five reported fiscal years, Steel Dynamics's operating margin decreased from 8.84% to 8.12%, a change of −0.72 percentage points. The latest reported quarter, Q2 2026, shows 11.50%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Steel Dynamics filings at SEC.gov ↗