Last 47 quarters of trend data · Basic Materials · Steel
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 29.04 | 15.55 | 16.19 | 23.28 | 12.72 | 16.00 | 21.72 | 20.97 | 15.38 | 11.90 | 10.10 | 11.31 | 7.72 | 5.66 | 7.64 | 6.77 | 3.53 | 2.57 | 3.65 | 2.83 | 3.01 |
| — | -2.8% | -25.5% | +11.0% | -17.3% | +34.4% | +115.1% | +85.4% | +99.0% | +110.2% | +32.2% | +67.2% | +119.1% | +120.5% | +109.1% | +139.4% | +17.0% | -42.8% | -41.6% | -72.7% | -80.2% | |
| P/S Ratio | 1.84 | 1.36 | 1.25 | 1.40 | 1.07 | 1.05 | 1.08 | 1.13 | 1.14 | 1.10 | 1.26 | 1.13 | 0.97 | 0.90 | 1.00 | 0.89 | 0.57 | 0.50 | 0.72 | 0.58 | 0.59 |
| — | +29.9% | +16.4% | +24.7% | -6.2% | -4.9% | -14.5% | -0.6% | +17.1% | +21.7% | +26.3% | +27.1% | +70.3% | +81.1% | +37.7% | +53.2% | -2.8% | -29.1% | -4.8% | -22.7% | -9.9% | |
| P/B Ratio | 3.86 | 3.54 | 2.85 | 2.78 | 2.29 | 2.16 | 2.13 | 1.95 | 2.17 | 2.24 | 2.61 | 2.17 | 2.01 | 2.12 | 2.35 | 2.12 | 1.62 | 1.65 | 2.31 | 1.95 | 2.12 |
| — | +63.7% | +34.1% | +42.4% | +5.5% | -3.4% | -18.5% | -10.1% | +8.1% | +5.4% | +11.2% | +2.1% | +23.8% | +29.0% | +1.6% | +8.7% | -23.5% | -34.3% | +1.5% | +8.6% | +46.9% | |
| P/FCF | 66.71 | 27.24 | 630.34 | 73.57 | 9.24 | 359.85 | — | — | 35.62 | — | — | 13.70 | 8.02 | 10.23 | 9.61 | 5.38 | 2.57 | 3.71 | 6.11 | 5.94 | 7.17 |
| — | -92.4% | — | — | -74.1% | — | — | — | +344.3% | — | — | +154.9% | +212.3% | +176.0% | +57.2% | -9.5% | -64.2% | -63.5% | — | — | — | |
| EV / EBITDA | 18.20 | 9.93 | 9.94 | 15.46 | 9.13 | 10.88 | 13.33 | 13.82 | 10.84 | 8.36 | 7.39 | 8.26 | 5.69 | 4.25 | 5.56 | 5.41 | 2.75 | 2.11 | 2.85 | 2.34 | 2.47 |
| — | -8.7% | -25.4% | +11.8% | -15.8% | +30.1% | +80.3% | +67.2% | +90.6% | +96.5% | +33.1% | +52.9% | +107.0% | +101.6% | +95.2% | +130.8% | +11.4% | -39.7% | -38.6% | -66.3% | -68.8% | |
| EV / EBIT | 25.00 | 11.42 | 10.67 | 20.90 | 11.18 | 13.84 | 18.62 | 19.41 | 13.18 | 9.78 | 8.24 | 9.35 | 6.19 | 4.56 | 6.02 | 5.95 | 2.94 | 2.23 | 3.05 | 2.50 | 2.65 |
| — | -17.5% | -42.7% | +7.7% | -15.1% | +41.5% | +126.1% | +107.6% | +112.9% | +114.3% | +36.8% | +57.1% | +110.7% | +104.7% | +97.1% | +138.3% | +11.1% | -42.2% | -43.5% | -74.8% | -78.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 13.0% | 15.7% | 14.7% | 11.8% | 15.7% | 13.5% | 11.1% | 11.4% | 13.9% | 16.7% | 20.9% | 17.3% | 20.8% | 25.7% | 21.6% | 20.5% | 25.9% | 30.3% | 32.0% | 33.2% | 31.5% |
| — | +16.2% | +31.7% | +3.7% | +12.6% | -19.0% | -46.7% | -33.9% | -32.8% | -35.0% | -3.2% | -15.6% | -19.9% | -15.2% | -32.6% | -38.3% | -17.6% | +12.8% | +41.7% | +95.1% | +150.4% | |
| Operating Margin | 8.1% | 12.6% | 11.3% | 7.0% | 10.5% | 8.4% | 6.3% | 6.1% | 9.1% | 12.1% | 16.0% | 12.2% | 16.0% | 20.9% | 17.1% | 15.7% | 21.6% | 26.0% | 26.8% | 26.9% | 26.0% |
| — | +49.8% | +79.4% | +14.6% | +15.5% | -30.5% | -60.6% | -49.9% | -43.0% | -42.3% | -6.3% | -22.1% | -25.9% | -19.6% | -36.4% | -41.6% | -16.9% | +21.7% | +60.1% | +170.5% | +288.6% | |
| Net Margin | 6.5% | 8.8% | 7.8% | 6.0% | 8.4% | 6.5% | 5.0% | 5.4% | 7.3% | 9.2% | 12.4% | 10.0% | 12.6% | 16.0% | 13.0% | 13.2% | 16.2% | 19.5% | 19.8% | 20.5% | 19.5% |
| — | +34.0% | +56.0% | +12.6% | +14.2% | -29.2% | -60.1% | -46.6% | -41.8% | -42.2% | -4.5% | -23.8% | -22.2% | -17.9% | -34.3% | -35.9% | -16.9% | +23.8% | +63.2% | +184.4% | +353.2% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.3% | 5.8% | 4.5% | 3.0% | 4.5% | 3.4% | 2.4% | 2.3% | 3.5% | 4.7% | 6.5% | 4.8% | 6.6% | 9.6% | 7.8% | 7.9% | 11.8% | 16.7% | 16.6% | 18.3% | 18.6% |
| — | +70.9% | +82.9% | +29.2% | +29.8% | -28.3% | -62.6% | -52.0% | -47.0% | -50.8% | -16.0% | -39.5% | -44.2% | -42.5% | -53.2% | -56.6% | -36.5% | +15.8% | +75.2% | +315.5% | +674.4% | |
| ROA | 7.6% | 3.2% | 2.4% | 1.6% | 2.6% | 1.9% | 1.4% | 1.4% | 2.1% | 2.8% | 3.9% | 2.8% | 3.9% | 5.6% | 4.5% | 4.5% | 6.6% | 9.0% | 8.6% | 9.1% | 8.9% |
| — | +66.3% | +73.1% | +21.3% | +23.8% | -33.3% | -63.9% | -52.4% | -47.2% | -49.6% | -13.1% | -36.8% | -40.6% | -37.5% | -47.9% | -50.3% | -26.1% | +33.9% | +94.3% | +331.4% | +660.7% | |
| ROIC | 9.2% | 4.5% | 3.5% | 1.9% | 3.2% | 2.4% | 1.8% | 1.5% | 2.6% | 3.8% | 5.2% | 3.8% | 5.4% | 8.0% | 6.5% | 6.0% | 9.6% | 13.1% | 13.2% | 13.6% | 13.6% |
| — | +86.4% | +99.1% | +25.2% | +22.6% | -36.2% | -66.3% | -59.4% | -52.2% | -52.9% | -19.5% | -37.0% | -43.7% | -39.4% | -50.6% | -56.1% | -29.5% | +24.9% | +87.0% | +310.5% | +538.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.47 | 0.45 | 0.46 | 0.47 | 0.42 | 0.43 | 0.47 | 0.36 | 0.41 | 0.33 | 0.34 | 0.35 | 0.35 | 0.35 | 0.37 | 0.38 | 0.38 | 0.40 | 0.44 | 0.49 | 0.55 |
| — | +4.5% | -3.2% | +30.6% | +3.9% | +28.7% | +41.5% | +4.0% | +16.1% | -6.2% | -8.9% | -8.4% | -8.6% | -12.3% | -16.5% | -22.8% | -30.0% | -34.7% | -32.6% | -31.1% | -15.6% | |
| Debt / EBITDA | 2.08 | 4.52 | 5.62 | 9.22 | 5.85 | 7.33 | 10.26 | 8.90 | 7.13 | 4.48 | 3.51 | 4.87 | 3.68 | 2.61 | 3.25 | 3.57 | 2.30 | 1.78 | 1.95 | 2.05 | 2.18 |
| — | -38.3% | -45.2% | +3.7% | -17.9% | +63.7% | +192.6% | +82.6% | +93.8% | +71.5% | +8.1% | +36.7% | +59.9% | +46.8% | +66.8% | +73.9% | +5.5% | -40.4% | -57.2% | -77.3% | -80.9% | |
| Current Ratio | 3.06 | 3.18 | 3.13 | 3.06 | 3.11 | 3.13 | 2.74 | 2.53 | 2.39 | 2.35 | 2.87 | 2.91 | 3.77 | 4.20 | 4.15 | 3.76 | 3.67 | 3.52 | 3.42 | 3.10 | 2.91 |
| — | +1.8% | +14.1% | +21.0% | +29.8% | +33.2% | -4.4% | -13.2% | -36.5% | -44.1% | -30.9% | -22.6% | +2.8% | +19.4% | +21.5% | +21.3% | +25.8% | +23.9% | +16.0% | -8.4% | -11.1% | |
| Quick Ratio | 1.29 | 1.45 | 1.33 | 1.29 | 1.47 | 1.34 | 1.38 | 1.08 | 1.26 | 1.19 | 1.55 | 1.67 | 2.23 | 2.47 | 2.51 | 2.22 | 2.08 | 1.87 | 1.74 | 1.51 | 1.51 |
| — | +8.8% | -3.3% | +20.1% | +16.7% | +12.1% | -11.4% | -35.4% | -43.5% | -51.8% | -38.2% | -24.7% | +7.3% | +32.6% | +44.6% | +46.6% | +38.3% | +24.2% | +7.7% | -21.1% | -21.2% | |
| Interest Coverage | 22.32 | 20.57 | 20.94 | 12.52 | 38.86 | 23.32 | 24.14 | 17.73 | 24.90 | 45.43 | 64.93 | 37.65 | 41.98 | 52.73 | 38.67 | 32.79 | 48.68 | 63.20 | 88.45 | 115.19 | 103.53 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying STLD stock.
Steel Dynamics, Inc.'s current P/E is 29.0x. The average P/E over the last 4 quarters is 16.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Steel Dynamics, Inc.'s current operating margin is 8.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Steel Dynamics, Inc.'s business trajectory between earnings reports.