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 Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Steel Dynamics Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Turnover Ratios
Inventory turnover 4.70 4.15 4.01 3.69 4.03 4.11 3.95 4.43 5.00 5.21 5.30 5.29 5.25 5.35 5.22 5.11 4.93 4.84 5.13 5.24
Receivables turnover 9.75 8.34 8.65 9.61 8.29 8.24 7.74 9.88 10.18 11.31 10.24 12.39 11.16 10.92 10.53 11.33 9.16 8.88 9.90 10.98
Payables turnover 13.61 10.97 11.61 10.19 9.55 8.62 7.71 10.61 11.24 11.64 14.23 17.40 17.56 18.38 16.47 17.25 14.95 12.79 14.58 16.26
Working capital turnover 4.00 3.99 4.04 3.94 3.99 3.79 3.27 3.20 3.49 3.29 3.29 3.22 3.65 3.78 3.98 3.92 3.65 3.80 3.50 3.61
Average No. Days
Average inventory processing period 78 88 91 99 91 89 92 82 73 70 69 69 69 68 70 71 74 75 71 70
Add: Average receivable collection period 37 44 42 38 44 44 47 37 36 32 36 29 33 33 35 32 40 41 37 33
Operating cycle 115 132 133 137 135 133 139 119 109 102 105 98 102 101 105 103 114 116 108 103
Less: Average payables payment period 27 33 31 36 38 42 47 34 32 31 26 21 21 20 22 21 24 29 25 22
Cash conversion cycle 88 99 102 101 97 91 92 85 77 71 79 77 81 81 83 82 90 87 83 81

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Steel Dynamics Inc. inventory turnover ratio improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.
Receivables turnover An activity ratio equal to revenue divided by receivables. Steel Dynamics Inc. receivables turnover ratio deteriorated from Q1 2022 to Q2 2022 but then improved from Q2 2022 to Q3 2022 exceeding Q1 2022 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Steel Dynamics Inc. payables turnover ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 exceeding Q1 2022 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Steel Dynamics Inc. working capital turnover ratio deteriorated from Q1 2022 to Q2 2022 but then slightly improved from Q2 2022 to Q3 2022.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Steel Dynamics Inc. number of days of inventory outstanding improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Steel Dynamics Inc. number of days of receivables outstanding deteriorated from Q1 2022 to Q2 2022 but then improved from Q2 2022 to Q3 2022 exceeding Q1 2022 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Steel Dynamics Inc. operating cycle improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Steel Dynamics Inc. number of days of payables outstanding increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Steel Dynamics Inc. cash conversion cycle improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.

Inventory Turnover

Steel Dynamics Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Costs of goods sold 4,187,278 4,329,536 3,787,389 3,548,820 3,487,659 3,265,616 2,744,331 2,158,992 2,038,017 1,809,874 2,159,871 2,033,787 2,167,006 2,349,349 2,383,865 2,382,657 2,537,466 2,438,443 2,140,459 2,015,655 2,046,864 1,998,202 1,896,062
Inventories 3,376,532 3,647,061 3,516,815 3,531,130 2,894,970 2,481,832 2,217,534 1,843,548 1,609,216 1,567,017 1,644,538 1,689,043 1,767,020 1,802,759 1,867,700 1,859,168 1,853,862 1,787,109 1,600,058 1,519,347 1,487,516 1,418,732 1,361,550
Short-term Activity Ratio
Inventory turnover1 4.70 4.15 4.01 3.69 4.03 4.11 3.95 4.43 5.00 5.21 5.30 5.29 5.25 5.35 5.22 5.11 4.93 4.84 5.13 5.24
Benchmarks
Inventory Turnover, Competitors2
Freeport-McMoRan Inc. 3.07 3.09 3.25 3.12 3.25 3.01 2.84 2.99 3.08 3.19 3.34 3.22

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Inventory turnover = (Costs of goods soldQ3 2022 + Costs of goods soldQ2 2022 + Costs of goods soldQ1 2022 + Costs of goods soldQ4 2021) ÷ Inventories
= (4,187,278 + 4,329,536 + 3,787,389 + 3,548,820) ÷ 3,376,532 = 4.70

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Steel Dynamics Inc. inventory turnover ratio improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.

Receivables Turnover

Steel Dynamics Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Net sales 5,651,707 6,212,878 5,569,902 5,310,657 5,088,288 4,465,308 3,544,597 2,601,245 2,330,832 2,094,305 2,575,100 2,350,196 2,526,845 2,770,515 2,817,435 2,903,892 3,223,547 3,090,525 2,603,875 2,336,479 2,443,382 2,390,720 2,368,216
Accounts receivable, net 2,333,994 2,660,715 2,363,668 1,916,434 1,892,795 1,571,024 1,366,463 971,918 918,842 844,056 998,408 844,336 986,946 1,072,879 1,143,395 1,043,756 1,228,190 1,180,183 987,655 868,837 923,017 886,894 883,147
Short-term Activity Ratio
Receivables turnover1 9.75 8.34 8.65 9.61 8.29 8.24 7.74 9.88 10.18 11.31 10.24 12.39 11.16 10.92 10.53 11.33 9.16 8.88 9.90 10.98
Benchmarks
Receivables Turnover, Competitors2
Freeport-McMoRan Inc. 27.47 24.84 16.00 19.56 22.75 17.22 13.02 15.92 15.25 18.01 26.03 19.44

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Receivables turnover = (Net salesQ3 2022 + Net salesQ2 2022 + Net salesQ1 2022 + Net salesQ4 2021) ÷ Accounts receivable, net
= (5,651,707 + 6,212,878 + 5,569,902 + 5,310,657) ÷ 2,333,994 = 9.75

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Steel Dynamics Inc. receivables turnover ratio deteriorated from Q1 2022 to Q2 2022 but then improved from Q2 2022 to Q3 2022 exceeding Q1 2022 level.

Payables Turnover

Steel Dynamics Inc., payables turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Costs of goods sold 4,187,278 4,329,536 3,787,389 3,548,820 3,487,659 3,265,616 2,744,331 2,158,992 2,038,017 1,809,874 2,159,871 2,033,787 2,167,006 2,349,349 2,383,865 2,382,657 2,537,466 2,438,443 2,140,459 2,015,655 2,046,864 1,998,202 1,896,062
Accounts payable 1,165,147 1,380,814 1,213,558 1,280,555 1,220,437 1,183,604 1,134,672 769,455 715,681 701,932 612,160 513,344 528,629 525,156 591,467 550,754 611,028 675,801 562,618 489,448 528,683 484,003 530,958
Short-term Activity Ratio
Payables turnover1 13.61 10.97 11.61 10.19 9.55 8.62 7.71 10.61 11.24 11.64 14.23 17.40 17.56 18.38 16.47 17.25 14.95 12.79 14.58 16.26

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Payables turnover = (Costs of goods soldQ3 2022 + Costs of goods soldQ2 2022 + Costs of goods soldQ1 2022 + Costs of goods soldQ4 2021) ÷ Accounts payable
= (4,187,278 + 4,329,536 + 3,787,389 + 3,548,820) ÷ 1,165,147 = 13.61

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Steel Dynamics Inc. payables turnover ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 exceeding Q1 2022 level.

Working Capital Turnover

Steel Dynamics Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Current assets 7,813,444 7,756,010 7,149,635 6,901,023 5,987,572 5,265,109 4,896,906 4,258,447 3,854,895 4,016,120 4,142,968 4,253,025 4,020,320 4,023,601 4,028,890 4,032,657 4,131,477 3,817,664 3,652,242 3,508,342 3,572,145 3,251,657 3,244,965
Less: Current liabilities 2,131,396 2,201,872 2,090,646 2,227,369 2,054,289 1,852,245 1,661,189 1,258,787 1,175,628 1,115,426 1,031,720 1,006,698 1,005,275 925,736 1,003,090 1,019,137 1,049,665 1,058,586 860,740 868,519 1,066,529 795,892 881,447
Working capital 5,682,048 5,554,138 5,058,989 4,673,654 3,933,283 3,412,864 3,235,717 2,999,660 2,679,267 2,900,694 3,111,248 3,246,327 3,015,045 3,097,865 3,025,800 3,013,520 3,081,812 2,759,078 2,791,502 2,639,823 2,505,616 2,455,765 2,363,518
 
Net sales 5,651,707 6,212,878 5,569,902 5,310,657 5,088,288 4,465,308 3,544,597 2,601,245 2,330,832 2,094,305 2,575,100 2,350,196 2,526,845 2,770,515 2,817,435 2,903,892 3,223,547 3,090,525 2,603,875 2,336,479 2,443,382 2,390,720 2,368,216
Short-term Activity Ratio
Working capital turnover1 4.00 3.99 4.04 3.94 3.99 3.79 3.27 3.20 3.49 3.29 3.29 3.22 3.65 3.78 3.98 3.92 3.65 3.80 3.50 3.61
Benchmarks
Working Capital Turnover, Competitors2
Freeport-McMoRan Inc. 2.47 2.37 2.78 2.56 2.56 2.68 2.60 2.41 2.74 3.04 3.18 3.06

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Working capital turnover = (Net salesQ3 2022 + Net salesQ2 2022 + Net salesQ1 2022 + Net salesQ4 2021) ÷ Working capital
= (5,651,707 + 6,212,878 + 5,569,902 + 5,310,657) ÷ 5,682,048 = 4.00

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Steel Dynamics Inc. working capital turnover ratio deteriorated from Q1 2022 to Q2 2022 but then slightly improved from Q2 2022 to Q3 2022.

Average Inventory Processing Period

Steel Dynamics Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Inventory turnover 4.70 4.15 4.01 3.69 4.03 4.11 3.95 4.43 5.00 5.21 5.30 5.29 5.25 5.35 5.22 5.11 4.93 4.84 5.13 5.24
Short-term Activity Ratio (no. days)
Average inventory processing period1 78 88 91 99 91 89 92 82 73 70 69 69 69 68 70 71 74 75 71 70
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Freeport-McMoRan Inc. 119 118 112 117 112 121 129 122 118 114 109 113

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 4.70 = 78

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Steel Dynamics Inc. number of days of inventory outstanding improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.

Average Receivable Collection Period

Steel Dynamics Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Receivables turnover 9.75 8.34 8.65 9.61 8.29 8.24 7.74 9.88 10.18 11.31 10.24 12.39 11.16 10.92 10.53 11.33 9.16 8.88 9.90 10.98
Short-term Activity Ratio (no. days)
Average receivable collection period1 37 44 42 38 44 44 47 37 36 32 36 29 33 33 35 32 40 41 37 33
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Freeport-McMoRan Inc. 13 15 23 19 16 21 28 23 24 20 14 19

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 9.75 = 37

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Steel Dynamics Inc. number of days of receivables outstanding deteriorated from Q1 2022 to Q2 2022 but then improved from Q2 2022 to Q3 2022 exceeding Q1 2022 level.

Operating Cycle

Steel Dynamics Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 78 88 91 99 91 89 92 82 73 70 69 69 69 68 70 71 74 75 71 70
Average receivable collection period 37 44 42 38 44 44 47 37 36 32 36 29 33 33 35 32 40 41 37 33
Short-term Activity Ratio
Operating cycle1 115 132 133 137 135 133 139 119 109 102 105 98 102 101 105 103 114 116 108 103
Benchmarks
Operating Cycle, Competitors2
Freeport-McMoRan Inc. 132 133 135 136 128 142 157 145 142 134 123 132

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 78 + 37 = 115

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Steel Dynamics Inc. operating cycle improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.

Average Payables Payment Period

Steel Dynamics Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Payables turnover 13.61 10.97 11.61 10.19 9.55 8.62 7.71 10.61 11.24 11.64 14.23 17.40 17.56 18.38 16.47 17.25 14.95 12.79 14.58 16.26
Short-term Activity Ratio (no. days)
Average payables payment period1 27 33 31 36 38 42 47 34 32 31 26 21 21 20 22 21 24 29 25 22

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 13.61 = 27

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Steel Dynamics Inc. number of days of payables outstanding increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022.

Cash Conversion Cycle

Steel Dynamics Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 78 88 91 99 91 89 92 82 73 70 69 69 69 68 70 71 74 75 71 70
Average receivable collection period 37 44 42 38 44 44 47 37 36 32 36 29 33 33 35 32 40 41 37 33
Average payables payment period 27 33 31 36 38 42 47 34 32 31 26 21 21 20 22 21 24 29 25 22
Short-term Activity Ratio
Cash conversion cycle1 88 99 102 101 97 91 92 85 77 71 79 77 81 81 83 82 90 87 83 81

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q3 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 78 + 3727 = 88

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Steel Dynamics Inc. cash conversion cycle improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.