Steel Dynamics, Inc.

STLDNASDAQBasic Materials● Active

$268.66

+$0.16(+0.06%)

Market Cap$38.7B

P/E Ratio—

52W High$277.79

52W Low$119.89

Avg Volume1.2M

Open$269.65

Beta1.52

Free Cash Flow Financials Revenue

Steel Dynamics, Inc. (STLD) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

STLD · free cash flow · updated Jun 8, 2026

Core FCF metrics

STLD · FCF · TTM · margin & CAGR

Free cash flow was $501.5M for FY2025 (fiscal year ending 2025-12-31), up 2233.8% year-over-year The FCF margin was 2.8%.

FY2025 Free Cash Flow$501.5M▲ +2233.8% YoY

Trailing 12M (TTM)$664.7Mtrailing 4 quarters sum

FCF Margin2.8%$501.5M ÷ revenue

3-Year CAGR-47.9%FY2022 → FY2025

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

STLD · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.45B(948M)$501.5M▲ +2233.8%2.8%

FY2024$1.84B(1.87B)−$23.5M▼ 101.3%-0.1%

FY2023$3.52B(1.66B)$1.86B▼ 47.6%9.9%

FY2022$4.46B(909M)$3.55B▲ +196.5%15.9%

FY2021$2.20B(1.01B)$1.20B▲ +667.7%6.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

STLD · P/FCF · FCF yield · FCF per share

Steel Dynamics, Inc. (STLD) trades at a FCF yield of 1.72% and a price-to-free-cash-flow ratio of 59.7x. FCF per share stands at $4.50, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.72%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$4.50

TTM FCF ÷ Shares Outstanding

Price / FCF

x59.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x63.5

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

STLD · cash flow statement · operating / investing / financing

For FY2025, Steel Dynamics, Inc. generated $1.45B in operating cash flow and spent 948M in capital expenditures, yielding $501.5M in free cash flow.

Operating Activities

+$1.45B

Cash from core business operations

2025-12-31

Investing Activities

−$975.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$294.3M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.45B) − |CapEx| (948M) = FCF ($501.5M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Basic Materials)

STLD vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Steel Dynamics, Inc.YOU

STLD

$501.5M+2233.8%2.8%

Southern Copper Corporation

Basic Materials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Steel Dynamics, Inc. (STLD) reported free cash flow of $501.5M for FY2025 (fiscal year ending 2025-12-31), up 2233.8% year-over-year. The FCF margin was 2.8%.

Based on available data, Steel Dynamics, Inc. has maintained positive free cash flow for at least 13 fiscal year(s). FCF peaked at $3.55B in FY2022.

Steel Dynamics, Inc.'s FCF yield is 1.72% and price-to-FCF ratio is 59.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

STLD free cash flow · 8 questions

Steel Dynamics, Inc. free cash flow was $501.5M for FY2025, up 2233.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $664.7M.

STLD free cash flowSTLD FCFSTLD FCF 2025STLD free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Steel Dynamics, Inc. · Steel Dynamics, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026