Steel Dynamics Inc (STLD)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	17,540,390	17,901,670	18,147,110	18,596,110	18,795,320	19,388,190	20,452,840	21,584,090	22,260,780	22,745,150	22,181,730	20,434,160	18,408,860	15,699,440	12,941,980	10,570,970	9,601,470	9,370,720	9,566,730	10,242,950
Property, plant and equipment	US$ in thousands	—	—	—	—	—	6,313,370	5,783,620	5,491,200	5,484,300	5,146,610	4,886,560	4,827,960	4,751,430	4,654,190	4,526,890	4,340,410	4,105,570	3,862,380	3,587,450	3,327,600
Fixed asset turnover		—	—	—	—	—	3.07	3.54	3.93	4.06	4.42	4.54	4.23	3.87	3.37	2.86	2.44	2.34	2.43	2.67	3.08

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $17,540,390K ÷ $—K
= —

Steel Dynamics Inc's fixed asset turnover has shown a fluctuating trend over the past few years. The ratio has ranged from a low of 2.34 in December 2020 to a high of 4.54 in June 2022. This indicates that the company generated $2.34 to $4.54 in sales for every dollar invested in fixed assets during the respective periods.

The general trend is an improvement in fixed asset turnover from 2020 to 2023, signifying that the company has become more efficient in utilizing its fixed assets to generate sales. However, starting from March 2023, the ratio experienced a slight decline. It is noteworthy that fixed asset turnover figures were not available for the later periods of 2023 and the entirety of 2024, which could suggest data availability issues or fluctuations in business operations.

Overall, a higher fixed asset turnover ratio indicates greater efficiency in asset utilization, while a declining trend may warrant further investigation into potential causes such as changes in production capacity, asset base, or sales volume.