Income Statement

Revenue

-18%

+89%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	18	19	24	30	35	39	37	34	35	36	39	39	37	36	35	34	34	34	32	32	31	30	38	55	78	106	129	145	151	153	150	141	143	149	159	170	176	177	178	177	175	171	168	159	152	142	132	128	124	122	123	137	150	157	162	154	148	147	147	146	143	140	138	134	132	130	127	127	126	127	126	127	124	119	107	95	84	71	65	57	57	67	80	92	97	92	86	76	66	58	57	56	57	61	58	0
Revenue	620 N/A	676 +9%	760 +12%	864 +14%	933 +8%	938 +1%	951 +1%	987 +4%	1 136 +15%	1 443 +27%	1 824 +26%	2 145 +18%	2 331 +9%	2 352 +1%	2 216 -6%	2 185 -1%	2 280 +4%	2 555 +12%	2 969 +16%	3 239 +9%	3 439 +6%	3 529 +3%	3 773 +7%	4 385 +16%	5 421 +24%	6 914 +28%	8 321 +20%	8 081 -3%	6 993 -13%	5 381 -23%	3 989 -26%	3 959 -1%	4 700 +19%	5 541 +18%	5 953 +7%	6 301 +6%	6 761 +7%	7 208 +7%	7 667 +6%	7 998 +4%	7 964 0%	7 794 -2%	7 444 -4%	7 290 -2%	7 104 -3%	6 995 -2%	7 214 +3%	7 373 +2%	7 407 +0%	7 676 +4%	8 103 +6%	8 756 +8%	8 973 +2%	8 909 -1%	8 520 -4%	7 594 -11%	7 288 -4%	7 307 +0%	7 458 +2%	7 777 +4%	8 404 +8%	8 771 +4%	9 113 +4%	9 539 +5%	9 774 +2%	10 474 +7%	11 254 +7%	11 822 +5%	12 035 +2%	11 715 -3%	11 019 -6%	10 465 -5%	10 223 -2%	9 546 -7%	9 350 -2%	9 601 +3%	10 571 +10%	12 942 +22%	15 699 +21%	18 409 +17%	20 434 +11%	22 182 +9%	22 745 +3%	22 261 -2%	21 584 -3%	20 453 -5%	19 388 -5%	18 795 -3%	18 596 -1%	18 147 -2%	17 902 -1%	17 540 -2%	17 216 -2%	17 148 0%	17 635 +3%	18 177 +3%
Gross Profit
Cost of Revenue	(534)	(562)	(596)	(647)	(685)	(711)	(758)	(842)	(949)	(1 151)	(1 350)	(1 541)	(1 676)	(1 721)	(1 701)	(1 700)	(1 764)	(1 954)	(2 228)	(2 409)	(2 552)	(2 622)	(2 883)	(3 469)	(4 374)	(5 604)	(6 795)	(6 849)	(6 150)	(4 949)	(3 785)	(3 560)	(4 050)	(4 767)	(5 256)	(5 625)	(6 000)	(6 363)	(6 762)	(7 066)	(7 127)	(7 051)	(6 744)	(6 570)	(6 409)	(6 335)	(6 513)	(6 654)	(6 701)	(6 894)	(7 230)	(7 790)	(7 983)	(7 970)	(7 641)	(6 863)	(6 508)	(6 318)	(6 288)	(6 442)	(6 833)	(7 188)	(7 542)	(7 957)	(8 201)	(8 641)	(9 132)	(9 499)	(9 742)	(9 653)	(9 283)	(8 934)	(8 710)	(8 171)	(8 042)	(8 167)	(8 751)	(10 207)	(11 657)	(13 046)	(14 089)	(15 153)	(15 853)	(16 143)	(16 193)	(15 638)	(15 086)	(14 749)	(14 626)	(14 709)	(14 810)	(14 738)	(14 907)	(14 996)	(15 330)	(15 784)
Gross Profit	86 N/A	113 +32%	164 +45%	218 +32%	248 +14%	227 -9%	193 -15%	145 -25%	187 +29%	292 +56%	474 +62%	603 +27%	656 +9%	630 -4%	515 -18%	485 -6%	516 +6%	601 +17%	741 +23%	830 +12%	887 +7%	907 +2%	891 -2%	916 +3%	1 047 +14%	1 310 +25%	1 526 +17%	1 231 -19%	843 -32%	433 -49%	204 -53%	399 +96%	650 +63%	773 +19%	696 -10%	676 -3%	761 +13%	845 +11%	905 +7%	932 +3%	837 -10%	743 -11%	700 -6%	720 +3%	695 -3%	660 -5%	701 +6%	719 +3%	706 -2%	781 +11%	873 +12%	966 +11%	990 +2%	939 -5%	879 -6%	732 -17%	781 +7%	989 +27%	1 169 +18%	1 335 +14%	1 571 +18%	1 583 +1%	1 571 -1%	1 582 +1%	1 573 -1%	1 833 +16%	2 122 +16%	2 323 +9%	2 293 -1%	2 062 -10%	1 736 -16%	1 531 -12%	1 513 -1%	1 376 -9%	1 309 -5%	1 435 +10%	1 820 +27%	2 735 +50%	4 043 +48%	5 362 +33%	6 345 +18%	7 028 +11%	6 892 -2%	6 118 -11%	5 391 -12%	4 815 -11%	4 303 -11%	4 046 -6%	3 971 -2%	3 439 -13%	3 092 -10%	2 803 -9%	2 308 -18%	2 152 -7%	2 305 +7%	2 392 +4%
Operating Income
Operating Expenses	(61)	(62)	(65)	(59)	(66)	(61)	(61)	(49)	(52)	(59)	(71)	(97)	(101)	(100)	(95)	(92)	(98)	(120)	(143)	(171)	(188)	(194)	(202)	(225)	(274)	(346)	(406)	(385)	(363)	(305)	(259)	(280)	(285)	(298)	(300)	(298)	(323)	(336)	(343)	(347)	(338)	(328)	(313)	(320)	(327)	(319)	(327)	(332)	(335)	(347)	(363)	(386)	(651)	(654)	(652)	(376)	(821)	(851)	(878)	(474)	(640)	(643)	(644)	(515)	(518)	(541)	(570)	(600)	(602)	(588)	(565)	(544)	(544)	(533)	(539)	(568)	(652)	(770)	(912)	(1 061)	(1 143)	(1 164)	(1 130)	(1 026)	(959)	(937)	(911)	(895)	(904)	(876)	(868)	(860)	(841)	(861)	(901)	(916)
Selling, General & Administrative	(61)	(62)	(65)	(59)	(66)	(61)	(61)	(49)	(66)	(73)	(85)	(97)	(101)	(100)	(95)	(92)	(98)	(120)	(143)	(171)	(187)	(190)	(196)	(213)	(252)	(319)	(370)	(344)	(317)	(253)	(206)	(226)	(235)	(251)	(253)	(253)	(266)	(281)	(302)	(307)	(299)	(290)	(277)	(285)	(284)	(285)	(294)	(301)	(304)	(318)	(335)	(358)	(364)	(368)	(366)	(351)	(367)	(396)	(422)	(445)	(479)	(481)	(482)	(486)	(489)	(512)	(542)	(573)	(574)	(560)	(537)	(515)	(514)	(503)	(508)	(539)	(603)	(722)	(863)	(1 032)	(1 114)	(1 136)	(1 102)	(998)	(932)	(906)	(878)	(861)	(869)	(845)	(837)	(829)	(811)	(832)	(873)	(888)
Depreciation & Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(1)	(4)	(7)	(12)	(23)	(27)	(36)	(41)	(46)	(51)	(52)	(54)	(49)	(47)	(47)	(46)	(44)	(43)	(41)	(40)	(39)	(38)	(36)	(36)	(35)	(34)	(33)	(32)	(31)	(29)	(28)	(28)	(27)	(26)	(26)	(25)	(26)	(27)	(28)	(29)	(29)	(29)	(30)	(29)	(29)	(28)	(27)	(28)	(28)	(28)	(28)	(30)	(30)	(30)	(30)	(29)	(29)	(29)	(30)	(29)	(29)	(29)	(28)	(28)	(28)	(31)	(33)	(34)	(35)	(32)	(31)	(31)	(30)	(29)	(28)	(28)
Other Operating Expenses	0	0	0	0	0	0	0	0	14	14	14	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(13)	(13)	0	0	0	0	0	0	(8)	0	0	0	0	0	0	0	(260)	(260)	(260)	0	(429)	(429)	(429)	0	(133)	(133)	(133)	0	0	0	0	0	0	0	0	0	0	0	0	0	(19)	(19)	(19)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	25 N/A	51 +103%	99 +94%	158 +60%	182 +15%	166 -9%	132 -21%	97 -27%	135 +39%	232 +73%	403 +73%	507 +26%	555 +9%	531 -4%	419 -21%	393 -6%	418 +6%	481 +15%	598 +24%	659 +10%	699 +6%	713 +2%	688 -3%	691 +0%	772 +12%	963 +25%	1 120 +16%	846 -24%	480 -43%	128 -73%	(55) N/A	120 N/A	365 +206%	476 +30%	396 -17%	378 -5%	438 +16%	509 +16%	562 +10%	585 +4%	499 -15%	415 -17%	387 -7%	399 +3%	368 -8%	342 -7%	374 +10%	387 +3%	371 -4%	434 +17%	509 +17%	580 +14%	339 -42%	285 -16%	227 -20%	356 +57%	(41) N/A	138 N/A	291 +111%	861 +196%	931 +8%	940 +1%	927 -1%	1 067 +15%	1 056 -1%	1 292 +22%	1 553 +20%	1 722 +11%	1 691 -2%	1 474 -13%	1 170 -21%	987 -16%	969 -2%	843 -13%	770 -9%	867 +12%	1 168 +35%	1 965 +68%	3 131 +59%	4 301 +37%	5 202 +21%	5 864 +13%	5 762 -2%	5 092 -12%	4 432 -13%	3 878 -13%	3 392 -13%	3 151 -7%	3 067 -3%	2 562 -16%	2 224 -13%	1 943 -13%	1 467 -24%	1 291 -12%	1 403 +9%	1 476 +5%
Pre-Tax Income
Interest Income Expense	(18)	(19)	(24)	(30)	(35)	(39)	(37)	(34)	(35)	(36)	(39)	(39)	(37)	(36)	(35)	(34)	(34)	(34)	(32)	(32)	(31)	(30)	(38)	(55)	(78)	(106)	(129)	(145)	(151)	(153)	(150)	(141)	(143)	(149)	(159)	(166)	(176)	(177)	(178)	(177)	(175)	(171)	(168)	(159)	(152)	(142)	(132)	(128)	(124)	(122)	(123)	(137)	(150)	(157)	(162)	(154)	(148)	(147)	(147)	(146)	(143)	(140)	(138)	(134)	(132)	(130)	(127)	(127)	(126)	(127)	(126)	(127)	(124)	(119)	(107)	(95)	(84)	(71)	(65)	(57)	(57)	(67)	(80)	(92)	(97)	(92)	(86)	(76)	(66)	(58)	(57)	(56)	(57)	(61)	(58)	(70)
Non-Reccuring Items	0	0	0	0	0	0	0	14	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(13)	0	0	(13)	0	0	0	(8)	(8)	0	(9)	(1)	(0)	0	0	0	(260)	0	0	0	(429)	0	0	0	(133)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(19)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Other Income	(7)	(7)	(6)	(4)	0	1	1	(1)	2	4	5	7	6	3	4	2	2	3	3	5	5	(8)	(9)	(6)	2	30	38	33	26	8	2	4	6	10	14	15	20	23	20	16	2	(2)	(30)	(29)	(17)	(18)	8	4	4	4	(20)	(18)	(35)	(36)	(14)	(15)	3	3	(1)	(18)	(16)	(14)	(12)	3	4	5	14	24	26	25	23	16	12	(21)	(29)	(47)	(59)	(41)	(45)	(35)	(45)	(31)	(10)	21	76	104	129	144	136	123	114	96	87	91	81	87
Pre-Tax Income	1 N/A	26 +4 129%	69 +167%	124 +81%	147 +18%	127 -13%	96 -25%	75 -21%	101 +34%	200 +98%	369 +84%	475 +29%	523 +10%	497 -5%	388 -22%	361 -7%	385 +7%	450 +17%	569 +26%	632 +11%	673 +7%	674 +0%	642 -5%	630 -2%	696 +10%	887 +27%	1 029 +16%	735 -29%	355 -52%	(16) N/A	(202) -1 132%	(18) +91%	229 N/A	337 +47%	252 -25%	213 -15%	282 +32%	355 +26%	391 +10%	424 +8%	326 -23%	242 -26%	181 -25%	204 +13%	198 -3%	173 -13%	250 +45%	263 +5%	251 -4%	316 +26%	366 +16%	165 -55%	154 -6%	92 -40%	51 -44%	(242) N/A	(186) +23%	(6) +97%	143 N/A	564 +293%	772 +37%	786 +2%	777 -1%	935 +20%	927 -1%	1 167 +26%	1 440 +23%	1 620 +12%	1 591 -2%	1 372 -14%	1 067 -22%	875 -18%	857 -2%	703 -18%	635 -10%	705 +11%	1 024 +45%	1 852 +81%	3 021 +63%	4 209 +39%	5 100 +21%	5 766 +13%	5 671 -2%	5 021 -11%	4 411 -12%	3 889 -12%	3 435 -12%	3 219 -6%	3 137 -3%	2 628 -16%	2 281 -13%	1 983 -13%	1 498 -24%	1 321 -12%	1 426 +8%	1 493 +5%
Net Income
Tax Provision	(0)	(10)	(26)	(47)	(55)	(48)	(36)	(28)	(38)	(75)	(139)	(180)	(199)	(190)	(149)	(139)	(148)	(167)	(212)	(235)	(250)	(254)	(240)	(236)	(260)	(334)	(389)	(280)	(134)	10	77	7	(87)	(132)	(100)	(84)	(112)	(135)	(147)	(159)	(123)	(95)	(68)	(62)	(57)	(47)	(79)	(99)	(95)	(117)	(131)	(73)	(69)	(48)	(36)	97	75	11	(44)	(204)	(274)	(276)	(270)	(308)	(273)	(304)	(329)	(364)	(356)	(303)	(243)	(197)	(193)	(157)	(137)	(135)	(205)	(400)	(673)	(962)	(1 185)	(1 348)	(1 335)	(1 142)	(995)	(871)	(756)	(752)	(726)	(602)	(514)	(433)	(318)	(271)	(294)	(306)
Income from Continuing Operations	0	16	43	78	92	80	60	47	63	125	230	295	324	308	239	222	237	283	357	397	423	420	402	394	435	553	640	455	222	(6)	(125)	(11)	142	205	152	130	170	219	244	266	203	147	113	142	142	126	171	164	156	199	236	92	85	44	15	(145)	(111)	4	100	360	497	510	506	627	654	864	1 110	1 256	1 235	1 069	824	678	664	546	498	571	819	1 452	2 348	3 247	3 915	4 418	4 336	3 879	3 416	3 018	2 679	2 467	2 410	2 026	1 767	1 550	1 180	1 050	1 133	1 187
Income to Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(0)	(1)	4	9	11	13	8	3	3	4	7	11	11	12	12	12	15	17	20	21	24	25	25	26	24	24	21	65	64	65	63	15	12	8	9	22	23	22	22	7	7	6	4	3	(0)	(2)	(4)	(7)	(10)	(11)	(13)	(20)	(25)	(31)	(37)	(33)	(28)	(23)	(18)	(17)	(20)	(19)	(18)	(16)	(13)	(13)	(13)	(13)	(10)	(9)	(6)	(2)
Net Income (Common)	0 N/A	16 +3 934%	43 +167%	78 +80%	92 +18%	80 -13%	60 -25%	47 -21%	63 +34%	125 +98%	230 +83%	295 +29%	324 +10%	308 -5%	239 -22%	222 -7%	237 +7%	283 +19%	357 +26%	397 +11%	423 +7%	420 -1%	402 -4%	395 -2%	435 +10%	552 +27%	644 +17%	463 -28%	233 -50%	6 -97%	(118) N/A	(8) +93%	145 N/A	210 +45%	160 -24%	141 -12%	182 +29%	231 +27%	256 +11%	278 +9%	218 -22%	164 -25%	133 -19%	164 +23%	166 +2%	151 -9%	195 +30%	189 -3%	180 -5%	223 +24%	257 +15%	157 -39%	149 -5%	108 -27%	78 -28%	(130) N/A	(98) +25%	12 N/A	109 +801%	382 +251%	520 +36%	532 +2%	528 -1%	813 +54%	839 +3%	1 048 +25%	1 293 +23%	1 258 -3%	1 235 -2%	1 067 -14%	820 -23%	671 -18%	654 -3%	535 -18%	484 -10%	551 +14%	794 +44%	1 421 +79%	2 311 +63%	3 214 +39%	3 887 +21%	4 395 +13%	4 318 -2%	3 863 -11%	3 396 -12%	2 999 -12%	2 661 -11%	2 451 -8%	2 398 -2%	2 014 -16%	1 754 -13%	1 537 -12%	1 170 -24%	1 041 -11%	1 127 +8%	1 186 +5%
EPS (Diluted)	0 N/A	0.08 N/A	0.22 +175%	0.41 +86%	0.47 +15%	0.41 -13%	0.31 -24%	0.23 -26%	0.28 +22%	0.55 +96%	1 +82%	1.32 +32%	1.47 +11%	1.49 +1%	1.19 -20%	1.09 -8%	1.19 +9%	1.28 +8%	1.62 +27%	1.89 +17%	2.08 +10%	2.12 +2%	2.11 0%	2.01 -5%	2.18 +8%	2.69 +23%	3.27 +22%	2.38 -27%	1.28 -46%	0.03 -98%	-0.5 N/A	-0.04 +92%	0.62 N/A	0.89 +44%	0.68 -24%	0.59 -13%	0.76 +29%	0.97 +28%	1.08 +11%	1.17 +8%	0.92 -21%	0.69 -25%	0.6 -13%	0.69 +15%	0.69 N/A	0.66 -4%	0.81 +23%	0.79 -2%	0.74 -6%	0.92 +24%	1.05 +14%	0.64 -39%	0.63 -2%	0.45 -29%	0.32 -29%	-0.54 N/A	-0.4 +26%	0.05 N/A	0.45 +800%	1.56 +247%	2.13 +37%	2.18 +2%	2.19 +0%	3.36 +53%	3.53 +5%	4.42 +25%	5.48 +24%	5.35 -2%	5.49 +3%	4.79 -13%	3.74 -22%	3.04 -19%	3.05 +0%	2.53 -17%	2.27 -10%	2.59 +14%	3.75 +45%	6.71 +79%	11.32 +69%	15.56 +37%	20.11 +29%	23.4 +16%	23.77 +2%	20.92 -12%	19.68 -6%	17.75 -10%	16.02 -10%	14.64 -9%	15.04 +3%	12.77 -15%	11.33 -11%	9.84 -13%	7.75 -21%	6.98 -10%	7.63 +9%	7.99 +5%

Income Statement Balance Sheet Cash Flow Statement

Steel Dynamics Inc
NASDAQ:STLD

Income Statement

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Steel Dynamics Inc

Income Statement
Steel Dynamics Inc

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Steel Dynamics Inc NASDAQ:STLD

Income Statement

Earnings Waterfall Steel Dynamics Inc

Income Statement Steel Dynamics Inc

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Steel Dynamics Inc
NASDAQ:STLD

Earnings Waterfall
Steel Dynamics Inc

Income Statement
Steel Dynamics Inc