Steel Dynamics Inc (STLD)

Pretax margin

		Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Earnings before tax but after interest (EBT)	US$ in thousands	1,492,970	1,982,880	3,218,940	5,021,070	4,209,070
Revenue	US$ in thousands	18,176,600	17,540,400	18,795,300	22,260,800	18,408,800
Pretax margin		8.21%	11.30%	17.13%	22.56%	22.86%

December 31, 2025 calculation

Pretax margin = EBT ÷ Revenue
= $1,492,970K ÷ $18,176,600K
= 8.21%

Peer comparison

Dec 31, 2025

Company name

Symbol

Pretax margin

Steel Dynamics Inc

STLD

8.21%

Commercial Metals Company