57/100B222.960
USD
1.08
(0.49%)
Pre Open
Fair valueNot reliable
Q4 FY2026 · Earnings report
EPS estimate 5.87Revenue estimate 6.36B
Q4 FY2026 · Earnings report
EPS estimate 5.87Revenue estimate 6.36B
Steel Dynamics total debt 1995–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Steel Dynamics's total debt was 4.20B USD on 30 September 2026, up 11.1% on a year before. At the end of fiscal year 2025 it was 4.21B USD.
Last updated 6 Nov 2026 · Next report 25 Jan 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 4.20B | +11.14% | 928.56M | -3.28B | 0.43 |
| FY2025 | 31 Dec 2025 | 4.21B | +25.88% | 769.88M | -3.44B | 0.47 |
| FY2024 | 31 Dec 2024 | 3.35B | +8.93% | 737.28M | -2.61B | 0.37 |
| FY2023 | 31 Dec 2023 | 3.07B | +0.02% | 2.12B | -948.96M | 0.35 |
| FY2022 | 31 Dec 2022 | 3.07B | -1.14% | 2.26B | -813.94M | 0.38 |
| FY2021 | 31 Dec 2021 | 3.11B | +0.10% | 1.24B | -1.86B | 0.49 |
| FY2020 | 31 Dec 2020 | 3.10B | +13.47% | 1.37B | -1.73B | 0.71 |
| FY2019 | 31 Dec 2019 | 2.73B | +15.05% | 1.64B | -1.09B | 0.67 |
| FY2018 | 31 Dec 2018 | 2.38B | -0.22% | 1.06B | -1.32B | 0.60 |
| FY2017 | 31 Dec 2017 | 2.38B | +1.07% | 1.03B | -1.35B | 0.71 |
| FY2016 | 31 Dec 2016 | 2.36B | -9.17% | 841.48M | -1.52B | 0.81 |
| FY2015 | 31 Dec 2015 | 2.59B | -12.98% | 727.03M | -1.87B | 0.97 |
| FY2014 | 31 Dec 2014 | 2.98B | +41.48% | 361.36M | -2.62B | 1.02 |
| FY2013 | 31 Dec 2013 | 2.11B | -4.30% | 395.16M | -1.71B | 0.83 |
| FY2012 | 31 Dec 2012 | 2.20B | -7.47% | 407.44M | -1.79B | 0.92 |
| FY2011 | 31 Dec 2011 | 2.38B | -0.28% | 475.59M | -1.90B | 1.03 |
| FY2010 | 31 Dec 2010 | 2.39B | +7.38% | 186.51M | -2.20B | 1.14 |
| FY2009 | 31 Dec 2009 | 2.22B | -16.13% | 9.01M | -2.21B | 1.12 |
| FY2008 | 31 Dec 2008 | 2.65B | +30.57% | 16.23M | -2.63B | 1.63 |
| FY2007 | 31 Dec 2007 | 2.03B | +362.51% | 28.49M | -2.00B | 1.33 |
| FY2006 | 31 Dec 2006 | 438.88M | -0.39% | 29.37M | -409.51M | 0.36 |
| FY2005 | 31 Dec 2005 | 440.58M | -1.74% | 65.52M | -375.06M | 0.50 |
| FY2004 | 31 Dec 2004 | 448.38M | -26.20% | 16.33M | -432.05M | 0.53 |
| FY2003 | 31 Dec 2003 | 607.57M | +9.38% | 65.43M | -542.14M | 1.03 |
| FY2002 | 31 Dec 2002 | 555.45M | -7.41% | 24.22M | -531.23M | 1.06 |
| FY2001 | 31 Dec 2001 | 599.92M | +12.66% | 78.24M | -521.68M | 1.43 |
| FY2000 | 31 Dec 2000 | 532.52M | +5.24% | 10.18M | -522.34M | 1.27 |
| FY1999 | 31 Dec 1999 | 506.00M | +4.57% | 16.60M | -489.40M | 1.29 |
| FY1998 | 31 Dec 1998 | 483.90M | +120.46% | 5.20M | -478.70M | 1.38 |
| FY1997 | 31 Dec 1997 | 219.50M | +5.83% | 8.60M | -210.90M | 0.65 |
| FY1996 | 31 Dec 1996 | 207.40M | -7.04% | 57.50M | -149.90M | 0.78 |
| FY1995 | 31 Dec 1995 | 223.10M | — | 6.90M | -216.20M | 3.54 |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 4.20B | +11.14% | 928.56M | -3.28B | 0.43 |
| Q2 FY2026 | 30 Jun 2026 | 4.18B | +10.61% | 567.71M | -3.61B | 0.44 |
| Q1 FY2026 | 31 Mar 2026 | 4.20B | +0.11% | 556.53M | -3.64B | 0.46 |
| Q4 FY2025 | 31 Dec 2025 | 4.21B | +30.34% | 769.88M | -3.44B | 0.47 |
| Q3 FY2025 | 30 Sept 2025 | 3.78B | +2.68% | 770.36M | -3.01B | 0.42 |
| Q2 FY2025 | 30 Jun 2025 | 3.78B | +24.85% | 497.63M | -3.28B | 0.43 |
| Q1 FY2025 | 31 Mar 2025 | 4.20B | +38.12% | 1.21B | -2.99B | 0.48 |
| Q4 FY2024 | 31 Dec 2024 | 3.23B | +5.21% | 737.28M | -2.49B | 0.36 |
| Q3 FY2024 | 30 Sept 2024 | 3.68B | +19.02% | 1.66B | -2.02B | 0.41 |
| Q2 FY2024 | 30 Jun 2024 | 3.03B | -1.28% | 1.25B | -1.78B | 0.33 |
| Q1 FY2024 | 31 Mar 2024 | 3.04B | -0.75% | 1.69B | -1.35B | 0.33 |
| Q4 FY2023 | 31 Dec 2023 | 3.07B | +0.02% | 2.12B | -948.96M | 0.35 |
| Q3 FY2023 | 30 Sept 2023 | 3.10B | +1.98% | 2.27B | -828.76M | 0.35 |
| Q2 FY2023 | 30 Jun 2023 | 3.07B | +0.64% | 2.09B | -980.64M | 0.35 |
| Q1 FY2023 | 31 Mar 2023 | 3.06B | -0.57% | 2.32B | -741.10M | 0.37 |
| Q4 FY2022 | 31 Dec 2022 | 3.07B | -1.14% | 2.26B | -813.94M | 0.38 |
| Q3 FY2022 | 30 Sept 2022 | 3.04B | -1.27% | 2.00B | -1.03B | 0.38 |
| Q2 FY2022 | 30 Jun 2022 | 3.05B | -1.99% | 1.36B | -1.69B | 0.40 |
| Q1 FY2022 | 31 Mar 2022 | 3.08B | -0.61% | 1.19B | -1.89B | 0.44 |
| Q4 FY2021 | 31 Dec 2021 | 3.11B | +0.10% | 1.24B | -1.86B | 0.49 |
| Q3 FY2021 | 30 Sept 2021 | 3.07B | +13.07% | 1.10B | -1.98B | 0.55 |
| Q2 FY2021 | 30 Jun 2021 | 3.11B | +14.73% | 1.11B | -2.00B | 0.62 |
| Q1 FY2021 | 31 Mar 2021 | 3.10B | +14.04% | 1.25B | -1.85B | 0.66 |
| Q4 FY2020 | 31 Dec 2020 | 3.10B | +13.47% | 1.37B | -1.73B | 0.71 |
| Q3 FY2020 | 30 Sept 2020 | 2.72B | +11.55% | 1.27B | -1.45B | 0.65 |
| Q2 FY2020 | 30 Jun 2020 | 2.71B | +11.64% | 1.57B | -1.14B | 0.65 |
| Q1 FY2020 | 31 Mar 2020 | 2.72B | +11.53% | 1.45B | -1.26B | 0.66 |
| Q4 FY2019 | 31 Dec 2019 | 2.73B | +15.05% | 1.64B | -1.09B | 0.67 |
| Q3 FY2019 | 30 Sept 2019 | 2.44B | +2.98% | 1.22B | -1.22B | 0.60 |
| Q2 FY2019 | 30 Jun 2019 | 2.43B | +2.43% | 1.09B | -1.34B | 0.60 |
| Q1 FY2019 | 31 Mar 2019 | 2.44B | +3.05% | 965.17M | -1.47B | 0.61 |
| Q4 FY2018 | 31 Dec 2018 | 2.38B | -0.22% | 1.06B | -1.32B | 0.60 |
| Q3 FY2018 | 30 Sept 2018 | 2.37B | -6.61% | 999.32M | -1.37B | 0.59 |
| Q2 FY2018 | 30 Jun 2018 | 2.37B | -0.16% | 810.45M | -1.56B | 0.63 |
| Q1 FY2018 | 31 Mar 2018 | 2.36B | +0.28% | 1.03B | -1.34B | 0.68 |
| Q4 FY2017 | 31 Dec 2017 | 2.38B | +1.07% | 1.03B | -1.35B | 0.71 |
| Q3 FY2017 | 30 Sept 2017 | 2.53B | -2.04% | 1.10B | -1.43B | 0.82 |
| Q2 FY2017 | 30 Jun 2017 | 2.37B | -8.37% | 908.84M | -1.47B | 0.77 |
| Q1 FY2017 | 31 Mar 2017 | 2.36B | -9.30% | 966.83M | -1.39B | 0.78 |
| Q4 FY2016 | 31 Dec 2016 | 2.36B | -9.17% | 841.48M | -1.52B | 0.81 |
| Q3 FY2016 | 30 Sept 2016 | 2.59B | -2.28% | 1.05B | -1.54B | 0.87 |
| Q2 FY2016 | 30 Jun 2016 | 2.59B | -2.39% | 1.05B | -1.54B | 0.91 |
| Q1 FY2016 | 31 Mar 2016 | 2.60B | -2.11% | 976.95M | -1.62B | 0.96 |
| Q4 FY2015 | 31 Dec 2015 | 2.59B | -12.98% | 727.03M | -1.87B | 0.97 |
| Q3 FY2015 | 30 Sept 2015 | 2.65B | -13.54% | 473.79M | -2.17B | 0.89 |
| Q2 FY2015 | 30 Jun 2015 | 2.65B | +47.16% | 419.40M | -2.24B | 0.91 |
| Q1 FY2015 | 31 Mar 2015 | 2.65B | +26.46% | 160.98M | -2.49B | 0.91 |
| Q4 FY2014 | 31 Dec 2014 | 2.98B | +41.48% | 361.36M | -2.62B | 1.02 |
| Q3 FY2014 | 30 Sept 2014 | 3.06B | +45.18% | 159.59M | -2.90B | 1.03 |
| Q2 FY2014 | 30 Jun 2014 | 1.80B | -14.04% | 357.49M | -1.45B | 0.62 |
| Q1 FY2014 | 31 Mar 2014 | 2.10B | -8.78% | 342.92M | -1.76B | 0.82 |
| Q4 FY2013 | 31 Dec 2013 | 2.11B | -4.30% | 395.16M | -1.71B | 0.83 |
| Q3 FY2013 | 30 Sept 2013 | 2.11B | -4.31% | 370.06M | -1.74B | 0.85 |
| Q2 FY2013 | 30 Jun 2013 | 2.10B | -11.38% | 243.75M | -1.85B | 0.86 |
| Q1 FY2013 | 31 Mar 2013 | 2.30B | -2.99% | 477.86M | -1.82B | 0.94 |
| Q4 FY2012 | 31 Dec 2012 | 2.20B | -7.47% | 407.44M | -1.79B | 0.92 |
| Q3 FY2012 | 30 Sept 2012 | 2.20B | -7.40% | 287.12M | -1.92B | 0.93 |
| Q2 FY2012 | 30 Jun 2012 | 2.37B | -0.48% | 430.94M | -1.94B | 1.00 |
| Q1 FY2012 | 31 Mar 2012 | 2.37B | -0.33% | 422.79M | -1.95B | 1.01 |
| Q4 FY2011 | 31 Dec 2011 | 2.38B | -0.28% | 475.59M | -1.90B | 1.03 |
| Q3 FY2011 | 30 Sept 2011 | 2.38B | -1.56% | 456.69M | -1.92B | 1.03 |
| Q2 FY2011 | 30 Jun 2011 | 2.38B | -1.19% | 277.69M | -2.10B | 1.05 |
| Q1 FY2011 | 31 Mar 2011 | 2.38B | -1.11% | 160.81M | -2.22B | 1.09 |
| Q4 FY2010 | 31 Dec 2010 | 2.39B | +7.38% | 186.51M | -2.20B | 1.14 |
| Q3 FY2010 | 30 Sept 2010 | 2.42B | +13.13% | 270.12M | -2.15B | 1.16 |
| Q2 FY2010 | 30 Jun 2010 | 2.41B | +12.27% | 191.59M | -2.22B | 1.16 |
| Q1 FY2010 | 31 Mar 2010 | 2.41B | -4.31% | 225.51M | -2.18B | 1.18 |
| Q4 FY2009 | 31 Dec 2009 | 2.22B | -16.13% | 9.01M | -2.21B | 1.12 |
| Q3 FY2009 | 30 Sept 2009 | 2.14B | -25.69% | 8.09M | -2.13B | 1.08 |
| Q2 FY2009 | 30 Jun 2009 | 2.14B | -15.44% | 18.22M | -2.13B | 1.12 |
| Q1 FY2009 | 31 Mar 2009 | 2.51B | +24.61% | 16.07M | -2.50B | 1.63 |
| Q4 FY2008 | 31 Dec 2008 | 2.65B | +30.57% | 16.23M | -2.63B | 1.63 |
| Q3 FY2008 | 30 Sept 2008 | 2.88B | +139.37% | 22.14M | -2.85B | 1.65 |
| Q2 FY2008 | 30 Jun 2008 | 2.54B | +229.45% | 115.41M | -2.42B | 1.28 |
| Q1 FY2008 | 31 Mar 2008 | 2.02B | +345.08% | 58.89M | -1.96B | 1.25 |
| Q4 FY2007 | 31 Dec 2007 | 2.03B | +362.51% | 28.49M | -2.00B | 1.33 |
| Q3 FY2007 | 30 Sept 2007 | 1.20B | +177.91% | 10.81M | -1.19B | 1.11 |
| Q2 FY2007 | 30 Jun 2007 | 769.95M | +93.20% | 12.21M | -757.74M | 0.65 |
| Q1 FY2007 | 31 Mar 2007 | 453.38M | +4.49% | 28.33M | -425.05M | 0.37 |
| Q4 FY2006 | 31 Dec 2006 | 438.88M | -0.39% | 29.37M | -409.51M | 0.36 |
| Q3 FY2006 | 30 Sept 2006 | 432.33M | -9.34% | 20.84M | -411.49M | 0.37 |
| Q2 FY2006 | 30 Jun 2006 | 398.53M | -30.50% | 53.95M | -344.58M | 0.33 |
| Q1 FY2006 | 31 Mar 2006 | 433.92M | -7.52% | 195.71M | -238.21M | 0.45 |
| Q4 FY2005 | 31 Dec 2005 | 440.58M | -1.74% | 65.52M | -375.06M | 0.50 |
| Q3 FY2005 | 30 Sept 2005 | 476.87M | -13.45% | 30.60M | -446.27M | 0.58 |
| Q2 FY2005 | 30 Jun 2005 | 573.41M | +0.90% | 1.65M | -571.77M | 0.73 |
| Q1 FY2005 | 31 Mar 2005 | 469.18M | -22.30% | 3.75M | -465.43M | 0.56 |
| Q4 FY2004 | 31 Dec 2004 | 448.38M | -26.20% | 16.33M | -432.05M | 0.53 |
| Q3 FY2004 | 30 Sept 2004 | 551.00M | +0.71% | 159.67M | -391.33M | 0.67 |
| Q2 FY2004 | 30 Jun 2004 | 568.29M | +3.26% | 38.44M | -529.85M | 0.81 |
| Q1 FY2004 | 31 Mar 2004 | 603.85M | +9.38% | 58.29M | -545.56M | 0.96 |
| Q4 FY2003 | 31 Dec 2003 | 607.57M | +9.38% | 65.43M | -542.14M | 1.03 |
| Q3 FY2003 | 30 Sept 2003 | 547.10M | -0.48% | 21.58M | -525.51M | 0.98 |
| Q2 FY2003 | 30 Jun 2003 | 550.34M | -0.24% | 11.93M | -538.41M | 1.01 |
| Q1 FY2003 | 31 Mar 2003 | 552.06M | +1.17% | 3.24M | -548.82M | 1.02 |
| Q4 FY2002 | 31 Dec 2002 | 555.45M | -7.41% | 24.22M | -531.23M | 1.06 |
| Q3 FY2002 | 30 Sept 2002 | 549.74M | +2.90% | 24.17M | -525.57M | 1.12 |
| Q2 FY2002 | 30 Jun 2002 | 551.68M | +2.09% | 48.75M | -502.93M | 1.19 |
| Q1 FY2002 | 31 Mar 2002 | 545.67M | +4.96% | 32.32M | -513.35M | 1.23 |
| Q4 FY2001 | 31 Dec 2001 | 599.92M | +12.66% | 78.24M | -521.68M | 1.43 |
| Q3 FY2001 | 30 Sept 2001 | 534.26M | -3.84% | 14.80M | -519.45M | 1.26 |
| Q2 FY2001 | 30 Jun 2001 | 540.40M | -1.22% | 18.17M | -522.23M | 1.28 |
| Q1 FY2001 | 31 Mar 2001 | 519.90M | +2.48% | 5.52M | -514.38M | 1.24 |
| Q4 FY2000 | 31 Dec 2000 | 532.52M | +5.24% | 10.18M | -522.34M | 1.27 |
| Q3 FY2000 | 30 Sept 2000 | 555.57M | +7.71% | 4.62M | -550.95M | 1.35 |
| Q2 FY2000 | 30 Jun 2000 | 547.08M | +9.31% | 9.68M | -537.40M | 1.33 |
| Q1 FY2000 | 31 Mar 2000 | 507.33M | +0.56% | 16.16M | -491.17M | 1.25 |
| Q4 FY1999 | 31 Dec 1999 | 506.00M | +4.57% | 16.60M | -489.40M | 1.29 |
| Q3 FY1999 | 30 Sept 1999 | 515.80M | +24.47% | 7.10M | -508.70M | 1.37 |
| Q2 FY1999 | 30 Jun 1999 | 500.50M | +41.78% | 2.50M | -498.00M | 1.37 |
| Q1 FY1999 | 31 Mar 1999 | 504.50M | +94.34% | 10.90M | -493.60M | 1.42 |
| Q4 FY1998 | 31 Dec 1998 | 483.90M | +120.46% | 5.20M | -478.70M | 1.38 |
| Q3 FY1998 | 30 Sept 1998 | 414.40M | +103.54% | 4.00M | -410.40M | 1.21 |
| Q2 FY1998 | 30 Jun 1998 | 353.00M | +71.86% | 10.20M | -342.80M | 1.04 |
| Q1 FY1998 | 31 Mar 1998 | 259.60M | +25.78% | 5.10M | -254.50M | 0.75 |
| Q4 FY1997 | 31 Dec 1997 | 219.50M | +5.83% | 8.60M | -210.90M | 0.65 |
| Q3 FY1997 | 30 Sept 1997 | 203.60M | — | 15.10M | -188.50M | 0.62 |
| Q2 FY1997 | 30 Jun 1997 | 205.40M | — | 22.30M | -183.10M | 0.70 |
| Q1 FY1997 | 31 Mar 1997 | 206.40M | — | 48.20M | -158.20M | 0.74 |
| Q4 FY1996 | 31 Dec 1996 | 207.40M | -7.04% | 57.50M | -149.90M | 0.78 |
| Q4 FY1995 | 31 Dec 1995 | 223.10M | — | 6.90M | -216.20M | 3.54 |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Steel Dynamics's debt
Source: Financial Modeling Prep