Steel Dynamics (STLD) FY2021 results: revenue $18.4 billion, up 91.7% on the year
Steel Dynamics Inc. (STLD) reported revenue of $18.4 billion for fiscal 2021, the year ended 31 December 2021, up 91.7% on the year before. Net income was $3.2 billion, up 483.5%, and diluted earnings per share $15.56. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.
Revenue
$18.4 billion
+91.7% on the year
FY2014FY2021
Operating margin
23.4%
8.8% a year earlier
FY2014FY2021
Net income
$3.2 billion
+483.5% on the year
FY2014FY2021
Diluted EPS
$15.56
+500.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,204
987
1,396
+123.3%
Capital expenditure
1,006
1,198
452
-16.0%
Free cash flow
1,198
-211
944
Free cash flow margin
6.5%
-2.2%
9.0%
Cash from investing
-999
-993
-577
Cash from financing
-1,329
-7.0
-267
Depreciation and amortisation
348
326
321
+6.7%
Share-based compensation
57.7
55.6
47.6
+3.8%
Buybacks
1,061
107
349
+895.6%
Dividends paid
213
209
200
+1.8%
Dividend per share
$1.04
$1.00
$0.96
+4.0%
Diluted shares, weighted
207m
212m
221m
-2.7%
Shares outstanding at period end
195m
211m
215m
-7.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
6,305
4,345
4,076
+45.1%
Non-controlling interest
-196
-156
-155
Redeemable equity
211
159
144
+33.3%
Debt
3,106
3,103
2,734
+0.1%
Operating lease liabilities
82.3
72.6
57.9
+13.3%
Other liabilities
3,023
1,742
1,419
+73.5%
Total liabilities and equity
12,531
9,266
8,276
+35.2%
Fixed assets
4,751
4,106
3,136
+15.7%
Goodwill
454
457
453
-0.7%
Intangible assets
295
325
328
-9.0%
Investments
n/a
0.0
262
Cash and equivalents
1,244
1,369
1,381
-9.1%
Receivables
1,911
968
841
+97.5%
Inventory
3,531
1,844
1,689
+91.5%
Other assets
344
198
185
+73.8%
Total assets
12,531
9,266
8,276
+35.2%
10-K for the year ended 31 December 2021, filed 28 February 2022: the filing.