Steel Dynamics (STLD) FY2024 results: revenue $17.5 billion, down 6.7% on the year
Steel Dynamics Inc. (STLD) reported revenue of $17.5 billion for fiscal 2024, the year ended 31 December 2024, down 6.7% on the year before. Net income was $1.5 billion, down 37.3%, and diluted earnings per share $9.84. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.
Revenue
$17.5 billion
-6.7% on the year
FY2017FY2024
Operating margin
11.1%
16.8% a year earlier
FY2017FY2024
Net income
$1.5 billion
-37.3% on the year
FY2017FY2024
Diluted EPS
$9.84
-32.8% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,845
3,520
4,460
-47.6%
Capital expenditure
1,868
1,658
909
+12.7%
Free cash flow
-23.5
1,862
3,552
Free cash flow margin
-0.1%
9.9%
16.0%
Cash from investing
-1,303
-1,970
-1,879
Cash from financing
-1,353
-1,777
-2,197
Depreciation and amortisation
479
438
384
+9.4%
Share-based compensation
66.6
61.7
59.2
+7.8%
Buybacks
1,212
1,452
1,801
-16.5%
Dividends paid
283
271
237
+4.2%
Dividend per share
$1.84
$1.70
$1.36
+8.2%
Diluted shares, weighted
156m
167m
185m
-6.7%
Shares outstanding at period end
151m
160m
173m
-5.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
8,934
8,867
8,130
+0.8%
Non-controlling interest
-160
-198
-216
Redeemable equity
171
171
182
0.0%
Debt
3,231
3,071
3,071
+5.2%
Operating lease liabilities
94.4
107
91.8
-11.9%
Other liabilities
2,665
2,891
2,902
-7.8%
Total liabilities and equity
14,935
14,908
14,160
+0.2%
Fixed assets
8,118
6,734
5,374
+20.5%
Goodwill
477
477
502
0.0%
Intangible assets
227
258
268
-11.8%
Investments
148
721
628
-79.5%
Cash and equivalents
589
1,401
1,628
-57.9%
Receivables
1,417
1,608
1,976
-11.9%
Inventory
3,114
2,895
3,130
+7.6%
Other assets
844
814
654
+3.7%
Total assets
14,935
14,908
14,160
+0.2%
10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.