Steel Dynamics annual operating margin
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
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
Q2.08
Q3.08
Q2.09
Q3.09
Q1.10
Q2.10
Q3.10
Q4.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
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% | +16.83 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 | 9.95% | +2.20 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 | 7.74% | −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 | 12.59% | +4.20 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 | 8.39% | +5.45 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 | 2.93% | +26.89 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% | — |
| Q3 2010 | 2010-09-30 | 4.36% | −8.31 pp |
| Q2 2010 | 2010-06-30 | 7.14% | +6.35 pp |
| Q1 2010 | 2010-03-31 | 8.50% | — |
| Q3 2009 | 2009-09-30 | 12.66% | −0.24 pp |
| Q2 2009 | 2009-06-30 | 0.79% | −14.14 pp |
| Q3 2008 | 2008-09-30 | 12.91% | — |
| Q2 2008 | 2008-06-30 | 14.93% | — |
Steel Dynamics operating margin trends
Over the last five 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 source filings ↗Community posts
Steel Dynamics expects higher earnings and record steel shipments
Steel Dynamics ($STLD) forecast third-quarter earnings of $5.34–5.38 per share, up from $3.69 in the preceding quarter and $2.74 a year earlier. Management expects record steel shipments and stronger steelmaking margins, reflecting higher s ...
