Steel Dynamics Inc (STLD)

Operating return on assets (Operating ROA)

		Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating income	US$ in thousands	1,475,990	1,943,040	3,151,180	5,091,820	4,301,100
Total assets	US$ in thousands	16,412,900	14,935,200	14,908,400	14,160,000	12,531,200
Operating ROA		8.99%	13.01%	21.14%	35.96%	34.32%

December 31, 2025 calculation

Operating ROA = Operating income ÷ Total assets
= $1,475,990K ÷ $16,412,900K
= 8.99%

Peer comparison

Dec 31, 2025

Company name

Symbol

Operating ROA

Steel Dynamics Inc

STLD

8.99%

Commercial Metals Company