Steel Dynamics Inc (STLD)

Debt-to-assets ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	2,611,070	3,009,010	3,010,830	3,014,360	3,013,240	3,012,120	3,011,120	3,010,110	3,008,700	3,019,180	3,016,490	3,016,200	3,015,780	2,636,620	2,636,720	2,646,010	2,644,990	2,355,240	2,355,920	2,354,430
Total assets	US$ in thousands	14,908,400	14,929,000	14,551,400	14,219,800	14,160,000	14,047,700	13,711,200	13,056,600	12,531,200	11,536,000	10,687,300	10,127,900	9,265,560	8,617,560	8,468,340	8,344,920	8,275,760	7,943,250	7,857,910	7,857,230
Debt-to-assets ratio		0.18	0.20	0.21	0.21	0.21	0.21	0.22	0.23	0.24	0.26	0.28	0.30	0.33	0.31	0.31	0.32	0.32	0.30	0.30	0.30

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,611,070K ÷ $14,908,400K
= 0.18

The debt-to-assets ratio of Steel Dynamics Inc. has remained relatively stable over the past eight quarters, ranging from 0.21 to 0.24. This indicates that the company's level of debt in relation to its total assets has been consistent and within a moderate range during this period. A lower debt-to-assets ratio suggests lower financial risk and indicates that the company has a higher proportion of assets financed by equity rather than debt. Conversely, a higher ratio may signal higher financial leverage and increased risk. The slight increase in the debt-to-assets ratio from Q1 2022 to Q1 2023 may indicate a slightly higher reliance on debt financing within the past year, although the overall ratio remains at a relatively manageable level. It is important for investors and stakeholders to continue monitoring this ratio to assess the company's financial health and risk profile.