Steel Dynamics (STLD) Operating Margin (2009 - 2026)
Steel Dynamics (STLD) posted Operating Margin of 11.5% for Q2 2026, up 11.25% sequentially from 10.34% in Q1 2026, and up 311.0% YoY from 2.8% in Q2 2025.
Steel Dynamics (STLD) Operating Margin (2009 - 2026) Analysis & Trends
Steel Dynamics has reported Operating Margin for 18 years, with the latest figure at 11.5% in Q2 2026.
- Quarterly Operating Margin rose 311.0% year-over-year to 11.5% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 10.01% (up 248.0% YoY) and the FY2025 annual result came in at 8.12%, down 296.0% from the prior year.
- Operating Margin improved to 11.5% in Q2 2026 per STLD's latest filing, from 10.34% in the prior quarter.
- Over five years, Operating Margin peaked at 26.84% in Q1 2022 and troughed at 6.13% in Q4 2024.
- A 5-year average of 14.1% and a median of 12.16% in 2023 frame the typical range for Operating Margin.
- The widest YoY moves for Operating Margin: up 1007 bps in 2022, down 1118 bps in 2022.
- Over 5 years, Operating Margin stood at 15.73% in 2022, then declined by 22 bps to 12.25% in 2023, then sank by 50 bps to 6.13% in 2024, then gained by 15 bps to 7.03% in 2025, then jumped by 64 bps to 11.5% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 11.5%, 10.34%, and 7.03% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ternium | 106.22 Bn | 96.33 Bn | 941.02 Mn | 31.54% |
| 2 | Nucor | 55.03 Bn | 52.34 Bn | 2.03 Bn | 15.67% |
| 3 | ArcelorMittal | 54.04 Bn | 49.19 Bn | - | - |
| 4 | Steel Dynamics | 31.61 Bn | 31.03 Bn | 958.97 Mn | 11.50% |
| 5 | Reliance | 19.53 Bn | 19.29 Bn | 1.30 Bn | 9.54% |
| 6 | Cleveland-Cliffs | 6.15 Bn | 6.08 Bn | 132.00 Mn | -0.94% |
| 7 | Gerdau | 5.42 Bn | 4.28 Bn | 558.98 Mn | 17.67% |
| 8 | GRUPO SIMEC, S.A.B. de C.V | 4.56 Bn | 3.00 Bn | - | - |
| 9 | Posco Holdings | 4.34 Bn | 1.84 Bn | 1.04 Bn | 2.35% |
| 10 | Worthington Steel | 1.70 Bn | 1.61 Bn | 118.80 Mn | -8.02% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 11.50% |
| Mar 31, 2026 | 10.34% |
| Dec 31, 2025 | 7.03% |
| Sep 30, 2025 | 10.52% |
| Jun 30, 2025 | 8.39% |
| Mar 31, 2025 | 6.30% |
| Dec 31, 2024 | 6.13% |
| Sep 30, 2024 | 9.11% |
| Jun 30, 2024 | 12.07% |
| Mar 31, 2024 | 16.00% |
| Dec 31, 2023 | 12.25% |
| Sep 30, 2023 | 15.99% |
| Jun 30, 2023 | 20.93% |
| Mar 31, 2023 | 17.07% |
| Dec 31, 2022 | 15.73% |
| Sep 30, 2022 | 21.58% |
| Jun 30, 2022 | 26.04% |
| Mar 31, 2022 | 26.84% |
| Dec 31, 2021 | 26.91% |
| Sep 30, 2021 | 25.98% |