Stock Analysis on Net

Steel Dynamics Inc. (NASDAQ:STLD)

This company has been moved to the archive! The financial data has not been updated since October 26, 2022.

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Steel Dynamics Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net fixed asset turnover 3.87 2.34 3.34 4.01 3.56
Net fixed asset turnover (including operating lease, right-of-use asset) 3.79 2.29 3.26 4.01 3.56
Total asset turnover 1.47 1.04 1.26 1.53 1.39
Equity turnover 2.92 2.21 2.57 3.00 2.85

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Steel Dynamics Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Steel Dynamics Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Steel Dynamics Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Steel Dynamics Inc. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Net Fixed Asset Turnover

Steel Dynamics Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Net sales 18,408,850 9,601,482 10,464,991 11,821,839 9,538,797
Property, plant and equipment, net 4,751,430 4,105,569 3,135,886 2,945,767 2,675,904
Long-term Activity Ratio
Net fixed asset turnover1 3.87 2.34 3.34 4.01 3.56
Benchmarks
Net Fixed Asset Turnover, Competitors2
Freeport-McMoRan Inc. 0.76 0.48 0.49
Net Fixed Asset Turnover, Industry
Materials 0.95 0.71 0.73

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 18,408,850 ÷ 4,751,430 = 3.87

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Steel Dynamics Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Steel Dynamics Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Net sales 18,408,850 9,601,482 10,464,991 11,821,839 9,538,797
 
Property, plant and equipment, net 4,751,430 4,105,569 3,135,886 2,945,767 2,675,904
Right-of-use assets under operating leases (included in Other assets, noncurrent) 100,124 90,280 75,176
Property, plant and equipment, net (including operating lease, right-of-use asset) 4,851,554 4,195,849 3,211,062 2,945,767 2,675,904
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 3.79 2.29 3.26 4.01 3.56
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Freeport-McMoRan Inc. 0.75 0.48 0.49
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Materials 0.94 0.70 0.71

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 18,408,850 ÷ 4,851,554 = 3.79

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Steel Dynamics Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Total Asset Turnover

Steel Dynamics Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Net sales 18,408,850 9,601,482 10,464,991 11,821,839 9,538,797
Total assets 12,531,234 9,265,562 8,275,765 7,703,563 6,855,732
Long-term Activity Ratio
Total asset turnover1 1.47 1.04 1.26 1.53 1.39
Benchmarks
Total Asset Turnover, Competitors2
Freeport-McMoRan Inc. 0.48 0.34 0.35
Total Asset Turnover, Industry
Materials 0.41 0.32 0.33

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= 18,408,850 ÷ 12,531,234 = 1.47

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Steel Dynamics Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Equity Turnover

Steel Dynamics Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Net sales 18,408,850 9,601,482 10,464,991 11,821,839 9,538,797
Total Steel Dynamics, Inc. equity 6,304,641 4,345,164 4,075,834 3,935,071 3,351,574
Long-term Activity Ratio
Equity turnover1 2.92 2.21 2.57 3.00 2.85
Benchmarks
Equity Turnover, Competitors2
Freeport-McMoRan Inc. 1.63 1.40 1.55
Equity Turnover, Industry
Materials 0.92 0.72 0.73

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Equity turnover = Net sales ÷ Total Steel Dynamics, Inc. equity
= 18,408,850 ÷ 6,304,641 = 2.92

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Steel Dynamics Inc. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.