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.

Common Stock Valuation Ratios (Price Multiples) 
Quarterly Data

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Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Historical Valuation Ratios (Summary)

Steel Dynamics Inc., historical price multiples (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
Price to earnings (P/E) 3.99 3.18 4.16 4.20 5.39 8.77 14.71 16.86 14.48 11.86 7.81 8.56 7.98 5.80 5.83 6.76 7.40 9.92 13.19 13.80
Price to operating profit (P/OP) 2.99 2.38 3.11 3.14 3.98 6.34 10.00 10.96 9.11 7.54 5.28 5.82 5.59 4.20 4.26 4.94 6.16 8.05 10.49 10.51
Price to sales (P/S) 0.76 0.63 0.79 0.73 0.79 0.96 1.10 0.97 0.75 0.67 0.50 0.55 0.59 0.53 0.60 0.72 0.85 0.99 1.13 1.18
Price to book value (P/BV) 2.16 1.84 2.32 2.14 2.22 2.48 2.47 2.14 1.67 1.53 1.24 1.41 1.61 1.52 1.80 2.16 2.37 2.78 3.19 3.35 2.84 2.79 2.84

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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Steel Dynamics Inc. P/E ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 not reaching Q1 2022 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Steel Dynamics Inc. P/OP ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 not reaching Q1 2022 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Steel Dynamics Inc. P/S ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 not reaching Q1 2022 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Steel Dynamics Inc. P/BV ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 not reaching Q1 2022 level.

Price to Earnings (P/E)

Steel Dynamics Inc., historical P/E 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
No. shares of common stock outstanding1 175,571,409 182,610,729 188,690,008 191,299,162 198,451,226 204,113,883 211,218,956 211,005,100 210,366,497 210,364,813 210,332,119 213,554,449 215,452,169 219,613,147 222,245,142 224,105,246 229,552,226 234,785,650 235,933,638 236,071,369 236,951,784 239,872,874 241,787,407
Selected Financial Data (US$)
Net income attributable to Steel Dynamics, Inc. (in thousands) 914,325 1,209,554 1,103,931 1,090,505 990,763 702,291 430,507 187,843 100,143 75,496 187,340 121,425 151,048 194,302 204,328 270,004 398,375 362,449 227,551 304,733 153,258 153,933 200,817
Earnings per share (EPS)2 24.60 24.07 20.60 16.80 11.65 6.96 3.76 2.61 2.30 2.54 3.11 3.14 3.80 4.86 5.56 5.62 5.63 4.46 3.56 3.44 0.00 0.00 0.00
Share price1, 3 98.04 76.55 85.75 70.58 62.74 61.06 55.28 44.01 33.35 30.19 24.30 26.89 30.36 28.19 32.41 37.95 41.69 44.30 46.92 47.51 37.19 35.84 35.68
Valuation Ratio
P/E ratio4 3.99 3.18 4.16 4.20 5.39 8.77 14.71 16.86 14.48 11.86 7.81 8.56 7.98 5.80 5.83 6.76 7.40 9.92 13.19 13.80
Benchmarks
P/E Ratio, Competitors5
Freeport-McMoRan Inc. 12.97 8.88 11.23 14.75 13.92 18.54 33.67 80.11

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 Data adjusted for splits and stock dividends.

2 Q3 2022 Calculation
EPS = (Net income attributable to Steel Dynamics, Inc.Q3 2022 + Net income attributable to Steel Dynamics, Inc.Q2 2022 + Net income attributable to Steel Dynamics, Inc.Q1 2022 + Net income attributable to Steel Dynamics, Inc.Q4 2021) ÷ No. shares of common stock outstanding
= (914,325,000 + 1,209,554,000 + 1,103,931,000 + 1,090,505,000) ÷ 175,571,409 = 24.60

3 Closing price as at the filing date of Steel Dynamics Inc. Quarterly or Annual Report.

4 Q3 2022 Calculation
P/E ratio = Share price ÷ EPS
= 98.04 ÷ 24.60 = 3.99

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Steel Dynamics Inc. P/E ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 not reaching Q1 2022 level.

Price to Operating Profit (P/OP)

Steel Dynamics Inc., historical P/OP 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
No. shares of common stock outstanding1 175,571,409 182,610,729 188,690,008 191,299,162 198,451,226 204,113,883 211,218,956 211,005,100 210,366,497 210,364,813 210,332,119 213,554,449 215,452,169 219,613,147 222,245,142 224,105,246 229,552,226 234,785,650 235,933,638 236,071,369 236,951,784 239,872,874 241,787,407
Selected Financial Data (US$)
Operating income (in thousands) 1,219,844 1,618,063 1,494,867 1,429,126 1,322,045 955,735 594,199 258,750 155,856 158,850 273,686 181,961 228,045 285,032 291,842 365,553 531,572 501,887 323,397 195,947 271,015 265,353 334,566
Operating profit per share2 32.82 32.11 27.57 22.48 15.78 9.62 5.53 4.01 3.66 4.01 4.61 4.62 5.43 6.71 7.61 7.69 6.76 5.50 4.47 4.52 0.00 0.00 0.00
Share price1, 3 98.04 76.55 85.75 70.58 62.74 61.06 55.28 44.01 33.35 30.19 24.30 26.89 30.36 28.19 32.41 37.95 41.69 44.30 46.92 47.51 37.19 35.84 35.68
Valuation Ratio
P/OP ratio4 2.99 2.38 3.11 3.14 3.98 6.34 10.00 10.96 9.11 7.54 5.28 5.82 5.59 4.20 4.26 4.94 6.16 8.05 10.49 10.51
Benchmarks
P/OP Ratio, Competitors5
Freeport-McMoRan Inc. 6.44 4.65 5.96 7.59 7.00 8.51 13.71 19.69 18.48 34.65 43.85 16.28

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 Data adjusted for splits and stock dividends.

2 Q3 2022 Calculation
Operating profit per share = (Operating incomeQ3 2022 + Operating incomeQ2 2022 + Operating incomeQ1 2022 + Operating incomeQ4 2021) ÷ No. shares of common stock outstanding
= (1,219,844,000 + 1,618,063,000 + 1,494,867,000 + 1,429,126,000) ÷ 175,571,409 = 32.82

3 Closing price as at the filing date of Steel Dynamics Inc. Quarterly or Annual Report.

4 Q3 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 98.04 ÷ 32.82 = 2.99

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Steel Dynamics Inc. P/OP ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 not reaching Q1 2022 level.

Price to Sales (P/S)

Steel Dynamics Inc., historical P/S 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
No. shares of common stock outstanding1 175,571,409 182,610,729 188,690,008 191,299,162 198,451,226 204,113,883 211,218,956 211,005,100 210,366,497 210,364,813 210,332,119 213,554,449 215,452,169 219,613,147 222,245,142 224,105,246 229,552,226 234,785,650 235,933,638 236,071,369 236,951,784 239,872,874 241,787,407
Selected Financial Data (US$)
Net sales (in thousands) 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
Sales per share2 129.55 121.47 108.29 96.23 79.11 63.41 50.05 45.50 44.45 45.38 48.60 49.00 51.14 53.35 54.15 52.75 49.03 44.61 41.43 40.41 0.00 0.00 0.00
Share price1, 3 98.04 76.55 85.75 70.58 62.74 61.06 55.28 44.01 33.35 30.19 24.30 26.89 30.36 28.19 32.41 37.95 41.69 44.30 46.92 47.51 37.19 35.84 35.68
Valuation Ratio
P/S ratio4 0.76 0.63 0.79 0.73 0.79 0.96 1.10 0.97 0.75 0.67 0.50 0.55 0.59 0.53 0.60 0.72 0.85 0.99 1.13 1.18
Benchmarks
P/S Ratio, Competitors5
Freeport-McMoRan Inc. 2.17 1.78 2.34 2.78 2.57 2.78 3.75 3.38 2.04 1.57 0.97 1.23

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 Data adjusted for splits and stock dividends.

2 Q3 2022 Calculation
Sales per share = (Net salesQ3 2022 + Net salesQ2 2022 + Net salesQ1 2022 + Net salesQ4 2021) ÷ No. shares of common stock outstanding
= (5,651,707,000 + 6,212,878,000 + 5,569,902,000 + 5,310,657,000) ÷ 175,571,409 = 129.55

3 Closing price as at the filing date of Steel Dynamics Inc. Quarterly or Annual Report.

4 Q3 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= 98.04 ÷ 129.55 = 0.76

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Steel Dynamics Inc. P/S ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 not reaching Q1 2022 level.

Price to Book Value (P/BV)

Steel Dynamics Inc., historical P/BV 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
No. shares of common stock outstanding1 175,571,409 182,610,729 188,690,008 191,299,162 198,451,226 204,113,883 211,218,956 211,005,100 210,366,497 210,364,813 210,332,119 213,554,449 215,452,169 219,613,147 222,245,142 224,105,246 229,552,226 234,785,650 235,933,638 236,071,369 236,951,784 239,872,874 241,787,407
Selected Financial Data (US$)
Total Steel Dynamics, Inc. equity (in thousands) 7,971,156 7,588,348 6,964,354 6,304,641 5,607,926 5,020,114 4,728,792 4,345,164 4,201,183 4,145,250 4,113,526 4,075,834 4,056,641 4,064,490 4,008,111 3,935,071 4,033,768 3,746,981 3,470,719 3,351,574 3,104,725 3,080,939 3,035,179
Book value per share (BVPS)2 45.40 41.55 36.91 32.96 28.26 24.59 22.39 20.59 19.97 19.71 19.56 19.09 18.83 18.51 18.03 17.56 17.57 15.96 14.71 14.20 13.10 12.84 12.55
Share price1, 3 98.04 76.55 85.75 70.58 62.74 61.06 55.28 44.01 33.35 30.19 24.30 26.89 30.36 28.19 32.41 37.95 41.69 44.30 46.92 47.51 37.19 35.84 35.68
Valuation Ratio
P/BV ratio4 2.16 1.84 2.32 2.14 2.22 2.48 2.47 2.14 1.67 1.53 1.24 1.41 1.61 1.52 1.80 2.16 2.37 2.78 3.19 3.35 2.84 2.79 2.84
Benchmarks
P/BV Ratio, Competitors5
Freeport-McMoRan Inc. 3.36 2.91 3.86 4.54 4.07 4.38 5.57 4.72 3.01 2.26 1.47 1.91 1.63 1.52 1.70

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 Data adjusted for splits and stock dividends.

2 Q3 2022 Calculation
BVPS = Total Steel Dynamics, Inc. equity ÷ No. shares of common stock outstanding
= 7,971,156,000 ÷ 175,571,409 = 45.40

3 Closing price as at the filing date of Steel Dynamics Inc. Quarterly or Annual Report.

4 Q3 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= 98.04 ÷ 45.40 = 2.16

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Steel Dynamics Inc. P/BV ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 not reaching Q1 2022 level.