Steel Dynamics

Overview

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• TickerSTLD on Nasdaq¹
• Industryiron and steel industry¹
• HeadquartersFort Wayne¹
• Websitewww.steeldynamics.com
• Incorporated inIN⁷
• Business address7575 W Jefferson Blvd, Fort Wayne, In 46804⁷
• Filer categoryLarge accelerated filer⁷
• Legal formFor-Profit Corporation⁴
• LEI549300HGGKEL4FYTTQ83⁴
• StatusActive⁴
• LEI statusIssued and current⁴
• Registered address7575 W JEFFERSON BLVD, 46804 Fort Wayne, United States⁴
• Registered withBusiness Services Division (Secretary of State), 1994061014⁴

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Steel Dynamics, Inc. (SDI) is an American steel producer based in Fort Wayne, Indiana. With a production capacity of 13 million tons of steel, the company is the third largest producer of carbon steel products in the United States. It is among the most profitable American steel companies in terms of profit margins and operating margin per ton. Based on its 2021 revenue, the company ranked 196th on the 2022 edition of the Fortune 500.³

Corporate structure

Steel Dynamics sits at the top of its group. 20 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Steel Dynamics reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Inventory

Properties, in its own words

The following table describes our significant properties as of December 31, 2025. These properties are owned by us and not subject to any significant encumbrances, or are leased by us. We believe these properties are suitable and adequate for our current operations and are appropriately utilized. For additional information regarding our significant facilities please refer to Item 1. Business.

Site · Site

Item 2 of the 10-K filed Feb 27, 2026.¹⁸

The story

From Wikipedia’s article on Steel Dynamics, shared under CC BY-SA 4.0.⁸

Leadership

Who has led Steel Dynamics, and when. Pick a name to see everywhere that person has worked.

• Chief executive officerMark D. Millett Feb 3, 2012 to now¹⁹
• Chief executive officerKeith E. Busse Feb 3, 2006 to Dec 21, 2011²⁰
• ChairMark D. Millett Sep 7, 2021 to now²¹
• ChairKeith E. Busse May 23, 2007 to Dec 21, 2011²²
• PresidentBarry Schneider Mar 1, 2023 to now²³
• PresidentMark D. Millett May 24, 2011 to Feb 28, 2023²⁴
• PresidentRussell B. Rinn Jul 29, 2011 to Feb 4, 2014²⁵
• PresidentKeith E. Busse Feb 3, 2006 to Feb 16, 2007²⁰
• Chief financial officerGlenn Pushis May 23, 2007 to May 30, 2007²⁶
• Chief financial officerTheresa E. Wagler Nov 26, 2007 to now²⁷
• Chief financial officerGary E. Heasley Feb 3, 2006 to Feb 5, 2007²⁸
• Chief operating officerBarry Schneider Mar 1, 2023 to now²³
• Chief operating officerMark D. Millett May 24, 2011 to Nov 23, 2011²⁴

Products and brands

• steel

Listed on Wikidata.¹

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

• Aluminum Dynamics, LLC Indiana⁹
• Mesabi Nugget Delaware, LLC Delaware⁹
• New Millennium Building Systems, LLC Indiana⁹
• New Process Steel, LLC Indiana⁹
• OmniSource, LLC Indiana⁹
• Roanoke Electric Steel Corporation Indiana⁹
• SDI Biocarbon Solutions, LLC Delaware⁹
• STLD Holdings, Inc. Indiana⁹
• Steel Dynamics Columbus, LLC Indiana⁹
• Steel Dynamics Enterprises, Inc. Indiana⁹
• Steel Dynamics Heartland, LLC Indiana⁹
• Steel Dynamics Sales North America, Inc. Indiana⁹
• Steel Dynamics Southwest, LLC Indiana⁹
• Steel of West Virginia, Inc. Indiana⁹
• The Techs Industries, Inc. Indiana⁹
• United Steel Supply, LLC Texas⁹
• Vulcan Threaded Products, Inc. Indiana⁹

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

• STEEL DYNAMICS INCNov 20, 1996 to Oct 9, 2026⁷

Controversies and legal

From Wikipedia’s article on Steel Dynamics, shared under CC BY-SA 4.0.⁸

Timeline

1. Sep 18, 20268-K Regulation FD disclosure⁶⁰
2. Aug 18, 20268-K Executive or director change⁶¹
3. Aug 14, 20268-K Other events⁶²
4. Aug 4, 20268-K Executive or director change; Regulation FD disclosure⁶³
5. Jul 21, 20268-K Results of operations⁶⁴
6. Jun 18, 20268-K Regulation FD disclosure⁶⁵
7. May 8, 20268-K Shareholder vote; Other events⁶⁶
8. Apr 21, 20268-K Results of operations⁶⁷
9. Mar 27, 20268-K Executive or director change; Regulation FD disclosure⁶⁸
10. Mar 18, 20268-K Regulation FD disclosure⁶⁹
11. Feb 23, 20268-K Other events⁷⁰
12. Feb 17, 20268-K Regulation FD disclosure⁷¹
13. Feb 3, 2012New chief executive Mark D. Millett becomes CEO¹⁹
14. Feb 3, 2006New chief executive Keith E. Busse becomes CEO²⁰
15. Nov 22, 1996Went public Listed on NASDAQ¹
16. 1993Founded Founded¹

Calendar

Coming up

1. Around Oct 20, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.

When it reported results

1. Jul 21, 2026Reported quarterly or annual results⁶⁴
2. Apr 21, 2026Reported quarterly or annual results⁶⁷
3. Jan 27, 2026Reported quarterly or annual results⁷²
4. Oct 21, 2025Reported quarterly or annual results⁷³
5. Jul 22, 2025Reported quarterly or annual results⁷⁴
6. Apr 23, 2025Reported quarterly or annual results⁷⁵
7. Jan 23, 2025Reported quarterly or annual results⁷⁶
8. Oct 17, 2024Reported quarterly or annual results⁷⁷

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

694 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 97 major events, 501 insider forms, 13 large holders, 63 other. The latest 20:

1. Oct 9, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
2. Oct 9, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
3. Oct 9, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
4. Oct 9, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
5. Oct 9, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
6. Oct 9, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
7. Sep 18, 20268-K EDGAR
8. Aug 18, 20268-K/A EDGAR
9. Aug 14, 20268-K EDGAR
10. Aug 14, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
11. Aug 6, 2026SCHEDULE 13G EDGAR
12. Aug 4, 20268-K EDGAR
13. Jul 28, 202610-Q EDGAR
14. Jul 28, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
15. Jul 21, 20268-K EDGAR
16. Jul 14, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
17. Jul 14, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
18. Jul 14, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
19. Jul 14, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
20. Jul 14, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

33 open-market trades by officers, directors and large owners since October 2021: 0 buys and 33 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• FMR LLCSCHEDULE 13G, 1 filing Aug 6, 2026⁷⁸
• State Street CorporationSCHEDULE 13G, 1 filing May 12, 2026⁷⁹
• VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 2026⁸⁰
• VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 10, 2022 to Mar 27, 2026⁸¹
• BlackRockSCHEDULE 13G/A, 6 filings Jan 26, 2022 to Feb 5, 2025⁸²

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Steel Dynamics is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARSTEEL DYNAMICS INC²
• CIK0001022671
• Employer ID (EIN)35-1929476¹⁸
• Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company¹⁸
• Incorporated inIndiana¹⁸
• Fiscal year endsDecember 31²
• Industry code (SIC)3312 Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)²
• SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance²
• Business address7575 W Jefferson Blvd, Fort Wayne, IN 46804²
• Phone260 459 3553²
• Shares outstanding143,328,088 as of Jul 23, 2026¹⁶
• Public float$13.0B as of Jun 30, 2025¹⁸
• AuditorErnst & Young LLP, Indianapolis, Indiana PCAOB ID 42; it also attests to the company’s internal control over financial reporting¹⁸
• On EDGAR sinceSep 23, 1996²
• Filings2,766 in all: 4 (1,766), 8-K (457), 10-Q (89), SC 13G/A (62), 3 (30), DEF 14A (30), SC 13G (29), UPLOAD (29)²
  All 45 form types

  10-K (24), 144 (24), CORRESP (23), 5 (18), DEFA14A (17), 4/A (16), SD (13), S-4 (11), S-4/A (10), 424B2 (8), 424B3 (8), FWP (8), 10-Q/A (7), 8-K/A (7), EFFECT (7), S-3/A (7), 10-K405 (6), 424B5 (6), S-1/A (6), 425 (5), S-3ASR (5), S-8 (5), ARS (4), 10-K/A (3), 3/A (3), DEFR14A (3), RW (3), S-3 (3), SCHEDULE 13G (3), POSASR (2), S-1 (2), SCHEDULE 13G/A (2), 424B1 (1), 424B4 (1), 8-A12G (1), POS AM (1), PRE 14A (1)

• Latest filingsAnnual report (10-K) Feb 27, 2026
  Quarterly report (10-Q) Jul 28, 2026
  Proxy statement (DEF 14A) Mar 27, 2026
  Latest 8-K (8-K) Sep 18, 2026

Securities registered for trading

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).¹⁸

Risk factors and legal proceedings

The risks Steel Dynamics names in Item 1A of its 10-K filed Feb 27, 2026: 21 risks under these headings, as written.¹⁸

• Global and National Risks Related to our Business
• Our industries, as well as the industries of many of our customers and suppliers upon whom we are dependent, are affected by domestic and global economic factors including periods of slower than anticipated economic growth and the risk of a recession.
• Global steelmaking overcapacity and imports of steel into the United States may adversely affect United States steel prices, which, together with increased scrap prices, may adversely affect our business, results of operations, financial condition and cash flows.
• Industry Risks Related to our Business
• Our level of production and our sales and earnings are subject to significant fluctuations as a result of the cyclical nature of the metals industries and some of the other industries we serve.
• Volatility and major fluctuations in prices and availability of scrap metal, scrap substitutes and supplies, and our potential inability to pass higher costs on to our customers, may constrain operating levels and reduce profit margins.
• The cost and availability of electricity, natural gas, oil and other energy resources are subject to volatile market conditions.
• Increased environmental, GHG emissions and sustainability considerations from our customers and investors or related regulations could affect demand for our products and add significant costs.
• Compliance with and changes in environmental and remediation requirements may result in substantially increased capital requirements and operating costs.
• Operational and Commercial Risks Related to our Business
• We may face significant price and other forms of competition from other steel and aluminum producers, scrap processors and alternative materials, which may adversely affect our business, financial condition, results of operations and cash flows.
• Availability of an adequate source of supply of scrap is required for our metals recycling operations.

Legal proceedings

We are involved in various litigation matters, including administrative proceedings, regulatory proceedings, governmental investigations, environmental matters, and commercial and construction contract disputes, none of which are currently expected to have a material impact on our financial condition, results of operations, or liquidity.

We may also be involved from time to time in various governmental investigations, regulatory proceedings or judicial actions seeking penalties, injunctive relief, and/or remediation under federal, state and local environmental laws and regulations. The United States EPA has conducted such investigations and proceedings involving us, in some instances along with state environmental regulators, under various environmental laws, including RCRA, CERCLA, the Clean Water Act and the Clean Air Act. Some of these matters have resulted in fines or penalties, exclusive of interest and costs, which did not exceed $1 million in aggregate, as of December 31, 2025.

The opening of Item 3, Legal Proceedings.¹⁸

Links

• Websitewww.steeldynamics.com¹
• WikipediaSteel Dynamics
• WikidataQ7605667
• SEC EDGARCIK 1022671