Flagship explainer
How Steel Dynamics, Inc. makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
| Filed line | Value | % of revenue | Source |
|---|---|---|---|
| $18.2B | 100% |
| |
| Cost of revenue | $15.8B | 87% |
|
| $2.4B | 13% |
| |
| $1.5B | 8% |
| |
| Income before tax | $1.5B | 8% |
|
| Income tax | $306M | 2% |
|
| $1.2B | 7% |
|
Source:
- SEC filing · FY 2025Filing detailsAccession 0001104659-26-021395