| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 56 | 21.7x | 17.8x | Around median | |
Growth | 53 | 19.8% | 7.1% | Around median | |
Quality | 50 | 12.3% | 4.5% | Around median | |
Safety | 77 | 1.4x | 2.6x | Top tier | |
Capital Return | 48 | 0.86% | 2.12% | Around median | |
Momentum | 86 | 99.6% | 2.9% | Top tier | |
Sentiment | 81 | 9 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Steel Dynamics operates through an interconnected system that includes flat and long steel production, metals recycling, steel joist and deck fabrication, and an aluminum rolled-sheet platform. The company benefits from converting scrap into value-added metal products and from using its internal fabrication business to support steel mill utilization; in fiscal Q2 2026, the steel mills benefited from this system by achieving a utilization rate of 90%, compared with an estimated 81% for the domestic industry.
In fiscal Q2 2026, revenue was $6.1 billion, gross profit was $959.0 million with a gross margin of approximately 15.7%, net income was $534.1 million with a net margin of approximately 8.8%, and diluted earnings per share were $3.69. Operating income was $700 million and adjusted earnings before interest, taxes, depreciation, and amortization were $921 million, supported by record quarterly steel shipments of 3.7 million tons and a $105-per-ton increase in the average selling price.
Steel was the primary earnings driver in fiscal Q2 2026, generating operating income of $721 million, up 30% sequentially, while metals recycling generated $48 million and fabrication generated $85 million. In contrast, aluminum operations recorded an operating loss of $33 million during startup, in addition to a noncash impairment of $16 million, despite aluminum sheet shipments rising to 53 thousand metric tons from 22.5 thousand metric tons in fiscal Q1 2026.
The average analyst price target is $274.17, within a range of $260 to $300, with a consensus rating of “Buy.” The average is approximately 5% below the 52-week range high of $288.74, while the highest target exceeds that high by approximately 3.9%, and the wide 52-week range between $126.88 and $288.74 indicates high sensitivity to the metals pricing cycle and execution of the aluminum expansion. The context does not provide a usable earnings multiple, so the stock's valuation here is based on the target range and the breadth of the 52-week range rather than inferring an unavailable multiple.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Revenue was $6.1 billion, net income was $534.1 million, and diluted earnings per share were $3.69 in fiscal Q2 2026. The company achieved record steel shipments of 3.7 million tons, and the average selling price increased by $105 per ton. This raised operating income for the steel segment by 30% sequentially to $721 million, while adjusted earnings before interest, taxes, depreciation, and amortization were $921 million.
Management said on July 21, 2026, that it expects aluminum operations to become profitable in the second half of fiscal 2026. The mill operated at an average of approximately 50% in fiscal Q2 2026, while the June rate was closer to 60%, with a target monthly rate of at least 90% by the end of fiscal 2026. Annual nameplate capacity remains 650 thousand metric tons, and management estimates through-cycle earnings before interest, taxes, depreciation, and amortization of $650–700 million after full operational maturity.
The steel fabrication backlog volume increased by more than 45% year over year through July 2026, and management confirmed that the increase came from volume rather than prices. The business generated operating income of $85 million in fiscal Q2 2026, compared with $90 million in fiscal Q1 2026, because higher steel costs offset the effect of increased volume and stable prices. Management expected strong volumes in the second half of fiscal 2026, with realized pricing beginning to improve within six to nine months of the call date.
Automated analysis for informational purposes only — not investment advice.
Aluminum operations recorded an operating loss of $33 million in fiscal Q2 2026, and the company also incurred a noncash impairment of $16 million due to relocating the second recycled slab center. Shipments were 53 thousand metric tons, below the previous range of 60–70 thousand metric tons, due to intermittent issues that included packaging and material that could not be shipped. The relocation also adds $10–20 million to capital spending in Columbus and delays full operation of internal supply until the first half of fiscal 2027.
The company repurchased $350 million of shares during the first half of fiscal 2026, with $489 million of authorization remaining at the end of June 2026. On August 14, 2026, it declared a dividend of $0.53 per share for fiscal Q3 2026, payable on October 9, 2026, to shareholders of record on September 30, 2026. This policy is supported by liquidity of $2 billion at the end of fiscal Q2 2026, but the pace of repurchases will remain tied to cash flow generation and working capital requirements.
According to the August 4, 2026, announcement, the board of directors unanimously approved the appointment of Theresa Wagler as chief executive officer effective January 1, 2027. On the same date, Mark Millett, the current chief executive officer and a co-founder, will transition. Until that date, Theresa Wagler was serving as executive vice president and chief financial officer during the July 21, 2026, call.
