U.S was Steel Dynamics’s largest segment in fiscal 2025, bringing in $12.49B of $13.10B (95%).
| Segment | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S | $11.60B | $11.31B | $12.49B | |||||||||||
| Total Net Sales | — | — | — | |||||||||||
| Non-U.S | $1.04B | $749.93M | $611.29M | |||||||||||
| Total | $12.64B | $12.06B | $13.10B |
Steel Dynamics brought in $13.10B from its two segments in fiscal 2025, the year ended December 31, 2025. That is less than the $18.18B it reports by related and nonrelated parties, so these segments do not cover all of its revenue. U.S was the largest at $12.49B (95.3%), ahead of Non-U.S at $611.29M (4.7%).
Compared with fiscal 2024, U.S grew 10.4% to $12.49B, while Non-U.S fell 18.5% to $611.29M.
Unrelated Parties was Steel Dynamics’s largest revenue line in fiscal 2025, bringing in $17.55B of $18.18B (97%).
| Related and Nonrelated Parties | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Unrelated Parties | $21.47B | $18.12B | $16.82B | $17.55B | |
| Related Parties | $791.52M | $680.00M | $720.74M | $622.00M | |
| Total | $22.26B | $18.80B | $17.54B | $18.18B |
Steel Dynamics brought in $18.18B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 3.6% from $17.54B in fiscal 2024. Unrelated Parties was the largest at $17.55B (96.6%), ahead of Related Parties at $622.00M (3.4%).
Compared with fiscal 2024, Unrelated Parties grew 4.4% to $17.55B, while Related Parties fell 13.7% to $622.00M. From fiscal 2022 to 2025, combined revenue from these revenue lines fell from $22.26B to $18.18B, a compound annual decline of 6.5%. Unrelated Parties' share held steady at about 96.6%.
Operating was Steel Dynamics’s largest revenue line in fiscal 2022, bringing in $14.34B of $11.56B (124%).
| Consolidated Entities | FY 2022 |
|---|---|
| Operating | $14.34B |
| Eliminations | -$2.78B |
| Total | $11.56B |
Steel Dynamics brought in $11.56B from its two revenue lines in fiscal 2022, the year ended December 31, 2022. Operating was the largest at $14.34B (124.1%).
The total is net of Eliminations, which took $2.78B off revenue in fiscal 2022.
Steel Dynamics (STLD) reports its revenue by segment, by related and nonrelated parties and by consolidated entities. In fiscal 2025, U.S was its largest segment, bringing in $12.49B (95.3% of the total), followed by Non-U.S at $611.29M (4.7%).
U.S was Steel Dynamics' largest segment in fiscal 2025, bringing in $12.49B, or 95.3% of the $13.10B total across its two segments.
Unrelated Parties was Steel Dynamics' largest revenue line in fiscal 2025, bringing in $17.55B, or 96.6% of the $18.18B total across its two revenue lines.
U.S grew faster than Non-U.S in fiscal 2025, up 10.4% from $11.31B to $12.49B. Non-U.S fell 18.5% to $611.29M.
Every figure comes from Steel Dynamics' annual financial filings, as reported. Each line keeps the name Steel Dynamics gives it, and years follow its fiscal calendar.
Steel Dynamics' revenue by segment goes back to fiscal 2011, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.