Steel Dynamics Inc (STLD)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 4,045,880 | 6,117,830 | 5,362,420 | 1,434,730 | 1,530,980 |
| Revenue | US$ in thousands | 18,718,800 | 22,260,800 | 18,408,800 | 9,601,480 | 10,465,000 |
| Gross profit margin | 21.61% | 27.48% | 29.13% | 14.94% | 14.63% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $4,045,880K ÷ $18,718,800K
= 21.61%
The gross profit margin of Steel Dynamics Inc. has fluctuated over the past five years. In 2023, the gross profit margin decreased to 21.53% from 27.48% in 2022 and 29.13% in 2021. This decline suggests a decrease in the percentage of revenue remaining after deducting the cost of goods sold. The lower gross profit margin in 2023 may indicate challenges in managing production costs or pricing pressures that affected the company's profitability. Further analysis of the company's cost structure and pricing strategies may be necessary to understand the factors contributing to the decrease in gross profit margin.
Peer comparison
Dec 31, 2023