Steel Dynamics Inc (STLD)
Return on total capital
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 1,563,010 | 2,039,230 | 3,151,180 | 5,112,610 | 4,266,280 |
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 8,957,180 | 8,934,290 | 8,866,670 | 8,130,360 | 6,304,640 |
| Return on total capital | 17.45% | 22.82% | 35.54% | 62.88% | 67.67% |
December 31, 2025 calculation
Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $1,563,010K ÷ ($—K + $8,957,180K)
= 17.45%
Peer comparison
Dec 31, 2025
Company name
Symbol
Return on total capital
Steel Dynamics Inc
STLD
17.45%
Commercial Metals Company
CMC
3.65%
Nucor Corp
NUE
12.55%