Steel Dynamics Inc (STLD)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	17,540,400	18,795,300	22,260,800	18,408,800	9,601,480
Property, plant and equipment	US$ in thousands	—	—	5,484,300	4,751,430	4,105,570
Fixed asset turnover		—	—	4.06	3.87	2.34

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $17,540,400K ÷ $—K
= —

Steel Dynamics Inc's fixed asset turnover ratio has shown a consistently improving trend over the past few years. The ratio increased from 2.34 in December 31, 2020, to 3.87 in December 31, 2021, and further to 4.06 in December 31, 2022. This indicates that the company is generating more revenue per dollar of fixed assets invested, suggesting improved efficiency in utilizing its fixed assets to generate sales. However, the data for December 31, 2023, and December 31, 2024 are missing, which limits the ability to assess the trend over a longer period. In general, a higher fixed asset turnover ratio is favorable as it indicates better asset utilization and efficiency in operations.