Steel Dynamics Inc (STLD)

Operating profit margin

		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
Operating income (ttm)	US$ in thousands	1,943,037	2,224,071	2,562,184	3,066,801	3,151,186	3,391,698	3,877,988	4,432,308	5,091,818	5,761,900	5,864,100	5,201,775	4,301,104	3,130,724	1,964,540	1,167,655	847,142	770,353	842,542	968,724
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
Operating profit margin		11.08%	12.42%	14.12%	16.49%	16.77%	17.49%	18.96%	20.54%	22.87%	25.33%	26.44%	25.46%	23.36%	19.94%	15.18%	11.05%	8.82%	8.22%	8.81%	9.46%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,943,037K ÷ $17,540,390K
= 11.08%

Steel Dynamics Inc's operating profit margin has seen fluctuations over the past few years. From March 2020 to June 2021, the operating profit margin showed a general increasing trend, indicating improved efficiency in generating profits from its core operations. The margin rapidly increased from 9.46% in March 2020 to 15.18% in June 2021, peaking at 26.44% in June 2022.

However, starting from September 2022, the operating profit margin began to decline steadily, reaching 11.08% by December 2024. This downward trend may suggest potential challenges in controlling costs or maintaining revenue growth relative to expenses.

Overall, while Steel Dynamics Inc achieved strong operating profit margins in the mid-2020s, it's important for the company to monitor and address the factors contributing to the recent decline in profitability to ensure sustainable performance in the future.