Steel Dynamics (STLD) Shares Outstanding (Diluted) (2009 - 2026)
Steel Dynamics' Shares Outstanding (Diluted) came in at 144.59 million for Q2 2026, down 2.9% from 148.96 million a year earlier and down 0.5% from the prior quarter.
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Analysis
Steel Dynamics (STLD) Shares Outstanding (Diluted) (2009 - 2026) Analysis & Trends
For FY2025, Steel Dynamics' Shares Outstanding (Diluted) was 148.4 million, down 5.0% from FY2024.
- Shares Outstanding (Diluted) has declined in each of the last nine years, with a five-year compound annual growth rate of -6.9% (FY2020 to FY2025).
- Going back by year, Shares Outstanding (Diluted) was 156.14 million in FY2024 (-6.7%), 167.43 million in FY2023 (-9.3%), 184.62 million in FY2022 (-10.6%) and 206.62 million in FY2021 (-2.7%).
- The Q2 2026 figure represents the lowest quarterly Shares Outstanding (Diluted) in data going back to Q2 2009.
- Year-over-year, Shares Outstanding (Diluted) has declined for 37 consecutive quarters, with an average decline of 5.1% over the last eight quarters.
- Over the past five years, the year-over-year decline in Shares Outstanding (Diluted) ranged from 2.7% (Q4 2021) to 11.1% (Q2 2022).
- Business Quant data shows STLD's Shares Outstanding (Diluted) at 145.32 million (Q1 2026), 148.4 million (Q4 2025) and 147.6 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 181.90 Bn | 148.03 Bn | - | 1.64 Bn |
| 2 | Southern Copper | 169.19 Bn | 148.06 Bn | 2.90 Bn | 829.10 Mn |
| 3 | Newmont | 121.55 Bn | 89.73 Bn | 4.03 Bn | 1.07 Bn |
| 4 | Ternium | 108.92 Bn | 73.97 Bn | 941.02 Mn | - |
| 5 | Freeport-Mcmoran | 100.46 Bn | 96.62 Bn | 2.19 Bn | 1.44 Bn |
| 6 | Agnico Eagle Mines | 91.62 Bn | 91.62 Bn | 2.43 Bn | 503.43 Mn |
| 7 | Barrick Mining | 68.12 Bn | 52.86 Bn | 2.90 Bn | 1.71 Bn |
| 8 | Nucor | 53.04 Bn | 43.58 Bn | 2.03 Bn | 228.50 Mn |
| 9 | ArcelorMittal | 50.74 Bn | 31.77 Bn | - | 766.00 Mn |
| 10 | Steel Dynamics | 31.83 Bn | 28.70 Bn | 958.97 Mn | 144.59 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 144.59 Mn |
| Mar 31, 2026 | 145.32 Mn |
| Dec 31, 2025 | 148.40 Mn |
| Sep 30, 2025 | 147.60 Mn |
| Jun 30, 2025 | 148.96 Mn |
| Mar 31, 2025 | 150.81 Mn |
| Dec 31, 2024 | 156.14 Mn |
| Sep 30, 2024 | 154.81 Mn |
| Jun 30, 2024 | 157.58 Mn |
| Mar 31, 2024 | 159.35 Mn |
| Dec 31, 2023 | 167.43 Mn |
| Sep 30, 2023 | 166.11 Mn |
| Jun 30, 2023 | 168.87 Mn |
| Mar 31, 2023 | 172.48 Mn |
| Dec 31, 2022 | 184.62 Mn |
| Sep 30, 2022 | 181.61 Mn |
| Jun 30, 2022 | 187.74 Mn |
| Mar 31, 2022 | 193.24 Mn |
| Dec 31, 2021 | 206.62 Mn |
| Sep 30, 2021 | 204.17 Mn |
API Access
Steel Dynamics Shares Outstanding (Diluted) API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=shares-outstanding-diluted&ticker=STLD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "ticker": "STLD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=shares-outstanding-diluted&ticker=STLD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();