Steel Dynamics Inc (STLD)

Net profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	2,450,882	2,661,476	2,998,606	3,396,049	3,862,669	4,318,305	4,394,743	3,887,484	3,214,061	2,320,511	1,429,891	803,096	559,929	486,698	537,603	656,409	673,397	819,530	1,066,857	1,235,004
Revenue (ttm)	US$ in thousands	18,718,840	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	9,350,430	9,546,440	10,222,660	10,465,000	11,018,690	11,715,400	12,035,400
Net profit margin		13.09%	13.73%	14.66%	15.73%	17.35%	18.99%	19.81%	19.02%	17.46%	14.78%	11.05%	7.60%	5.83%	5.21%	5.63%	6.42%	6.43%	7.44%	9.11%	10.26%

December 31, 2023 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $2,450,882K ÷ $18,718,840K
= 13.09%

The net profit margin of Steel Dynamics Inc., as evidenced by the data provided, has exhibited a declining trend over the quarters analyzed. The net profit margin decreased from 17.35% in Q4 2022 to 13.04% in Q4 2023. This decline suggests a reduction in the percentage of revenue that translates into profit over time.

The trend indicates potential challenges in managing costs and expenses relative to revenue generation. A decreasing net profit margin may imply inefficiencies in the company's operations or an inability to sustain profitability amidst changing market conditions or increased competition.

It is important for stakeholders and investors to monitor this trend closely to assess the company's financial health and ability to generate sustainable profits in the long run. Further analysis and investigation into the factors influencing the net profit margin decline are warranted to determine any underlying issues that need to be addressed for improvement.