STLD Steel Dynamics margins

Relative Growth: Rel. Growth: 90

Relative Strength: Rel. Strength: 78

Relative Valuation: Rel. Valuation: 82

Relative Profitability: Rel. Profitability: 69

Gross margin

15.9%

Operating margin

11.5%

EBITDA margin

14.8%

Net margin

8.8%

The Steel Dynamics reports a gross margin of 15.9%, an operating margin of 11.5%, an EBITDA margin of 14.8%, and a net margin of 8.8%. Operating margin led the improvement across the available margins, expanding by 3.5 percentage points.

STLD margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Steel Dynamics's margins averaged 15.99% gross, 11.13% operating, 14.43% EBITDA, and 8.77% net. For Steel Dynamics, operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

STLD margin expansion

Year-over-year margin changes in percentage points

Gross margin expanded by 2.8 percentage points, operating margin by 3.5 percentage points, EBITDA margin by 3.4 percentage points, and net margin by 2.4 percentage points, led by operating margin with an increase of 3.5 percentage points.

Gross margin expansion

2.8pp

Operating margin expansion

3.5pp

EBITDA margin expansion

3.4pp

Net margin expansion

2.4pp

STLD Gross margin

Over the last 3 years, Steel Dynamics's gross margin averaged 15.99%. The current gross margin of 15.9% is 0.1 percentage points below its three-year average. During this period, gross margin reached a high of 21.5% in Dec 2023 and a low of 12.5% in Jun 2025.

STLD Operating margin

Over the last 3 years, Steel Dynamics's operating margin averaged 11.13%. As of the latest period, Steel Dynamics's current operating margin is 11.5%, which is 0.4 percentage points above its three-year average. During this period, operating margin reached a high of 16.8% in Dec 2023 and a low of 7.5% in Jun 2025.

STLD EBITDA margin

Looking at the last 3 years, Steel Dynamics had an average EBITDA margin of 14.43%. Against its three-year average, Steel Dynamics's EBITDA margin is currently 14.8%, 0.4 percentage points above its three-year average. Looking back over the last 3 years, Steel Dynamics's EBITDA margin reached 19.8% at its highest point in Dec 2023 and 11% at its lowest in Jun 2025.

STLD Net margin

Across the last 3 years, Steel Dynamics had an average net margin of 8.77%. Against its three-year average, Steel Dynamics's net margin is currently 8.8%, 0 percentage points above its three-year average. Looking back over the last 3 years, Steel Dynamics's net margin reached 13% at its highest point in Dec 2023 and 6.1% at its lowest in Jun 2025.

STLD margin group comparison

Margins compared with peer-group, industry and sector averages

Steel Dynamics's gross margin of 15.9% is above the industry average but below the Basic Materials sector and its peers average. Compared to its Basic Materials sector average of 32%, Steel Dynamics's gross margin is 50% lower.

STLD margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Steel Dynamics's gross margin?

As of Sep 30, 2026, STLD has a gross margin of 15.9%.

What is Steel Dynamics's operating margin?

For the period ending Sep 30, 2026, STLD recorded an operating margin of 11.5%.

What is Steel Dynamics's EBITDA margin?

For the period ending Sep 30, 2026, STLD recorded an EBITDA margin of 14.8%.

What is Steel Dynamics's net margin?

For the period ending Sep 30, 2026, STLD recorded a net margin of 8.8%.

What are the average margins of STLD?

Steel Dynamics's average margins over the last 3 years were 16.0% gross, 11.1% operating, 14.4% EBITDA, and 8.8% net.

What are the highest historical margins of STLD?

Steel Dynamics's highest recorded margins during the past 5 years were 31.7% gross in Jun 2022, 26.4% operating in Jun 2022, 27.8% EBITDA in Jun 2022, and 19.8% net in Jun 2022.

What are the lowest historical margins of STLD?

Over the last 5 years, Steel Dynamics's lowest margins were 12.5% gross in Jun 2025, 7.5% operating in Jun 2025, 11% EBITDA in Jun 2025, and 6.1% net in Jun 2025.