Urban MiningDisposal and RecyclingGreen SteelIndustrial ManufacturingMiningPrecious MetalsRecycling
Description
Steel Dynamics, Inc. (SDI) operates as a primary industrial metals solutions company, with facilities located throughout the United States and Mexico.
The company operates a circular manufacturing model, producing high-quality, lower-carbon-emission…
Analysis
Hope premium
Steel Dynamics, Inc. is priced well ahead of what the underlying numbers justify, a pattern we describe as a hope premium. Worth noting: the cash the business generates has lagged behind what the income statement shows.
On valuation, the picture is expensive. The owner-earnings multiple stands at 34.4×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 13% a year, against analyst forecasts of 18%. The price, in other words, assumes less than the experts do.
Growth is solid; the safety picture is adequate. The company scores 20/20 on our value-creation score: strong value creator.
Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.
360° rank · history
1007550250
Jan 202399
74
2023202420252026
All-time high
99
Jan 2023
All-time low
32
Jan 2025
Average rank
65
across all years
Detailed & Historical Ranks
Deep dive into 15 detailed ranks and 3 years of history.
Current202520242023
Price/Sales
65
60
62
74
Price/Earnings
36
48
83
91
Price/Book
24
28
23
40
Dividend Yield
71
58
63
53
Value (overall)
54
45
65
81
Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.