Nucor vs Steel Dynamics
Nucor is the larger business, with $32.49bn of revenue in fiscal 2025 against $18.18bn for Steel Dynamics (1.8 times as much). Nucor grew faster (5.7% against 3.6%). Steel Dynamics kept more of each dollar of sales as profit: a net margin of 6.5% against 5.4%.
| Latest fiscal year | NucorNUE, 2025 | Steel DynamicsSTLD, 2025 |
|---|---|---|
| Revenue | $32.49bn | $18.18bn |
| Revenue growth | 5.7% | 3.6% |
| Net income | $1.74bn | $1.19bn |
| Operating margin | — | 8.1% |
| Net margin | 5.4% | 6.5% |
| Return on equity | 8.5% | 13.3% |
| Free cash flow | −$188m | $502m |
| Cash | $2.26bn | $770m |
| Total debt | $7.12bn | $4.29bn |
| Debt to equity | — | 47.9% |
| Dividend per share | $2.21 | $2.00 |
| Dividend yield | 0.8% | 0.8% |
| Share buybacks | $700m | $901m |
| Employees | 33,000 | 14,400 |
| Market value | $62.52bn | $35.40bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 56 (Moderate) | 66 (Moderate) |
| Insider trades, 12 months | 0 buys, 41 sales | 0 buys, 13 sales |