Steel Dynamics Inc (STLD)

Pretax 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
Earnings before tax but after interest (EBT) (ttm) US$ in thousands 1,982,881 2,281,157 2,627,731 3,136,939 3,218,947 3,435,158 3,889,029 4,411,129 5,021,070 5,671,470 5,765,560 5,099,938 4,209,067 3,021,034 1,851,834 1,024,081 705,478 634,724 702,615 856,530
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
Pretax margin 11.30% 12.74% 14.48% 16.87% 17.13% 17.72% 19.01% 20.44% 22.56% 24.93% 25.99% 24.96% 22.86% 19.24% 14.31% 9.69% 7.35% 6.77% 7.34% 8.36%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,982,881K ÷ $17,540,390K
= 11.30%

Steel Dynamics Inc has shown a fluctuating trend in its pretax margin over the past few years. The pretax margin started at a moderate level of 8.36% in March 2020, decreased slightly to 7.34% by June 2020, and further declined to 6.77% by September 2020. However, there was a rebound in the margin to 7.35% by December 2020.

The trend then changed significantly, with a notable increase to 9.69% by March 2021, followed by a substantial growth to 14.31% by June 2021, 19.24% by September 2021, and 22.86% by December 2021. The pretax margin peaked at 25.99% in June 2022, before gradually declining to 11.30% by December 2024.

Overall, there has been significant volatility in Steel Dynamics Inc's pretax margin, with both highs and lows observed throughout the period. This indicates fluctuations in the company's profitability before accounting for taxes, which may be influenced by various factors such as revenues, expenses, and economic conditions.