Nucor vs Steel Dynamics
Nucor reported revenue of $32.5 billion in fiscal 2025, 1.8 times Steel Dynamics' $18.2 billion in fiscal 2025. Nucor's revenue grew 5.7% in its latest year, and Steel Dynamics' grew 3.6%. Free cash flow was −$188 million at Nucor and $502 million at Steel Dynamics.
Side by side
| Nucor | Steel Dynamics | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $32.5B | $18.2B |
| Revenue growth | 5.7% | 3.6% |
| Revenue growth a year, last 5 years | 10.0% | 13.6% |
| Gross margin | 11.9% | 13.2% |
| Operating margin | — | 8.1% |
| Net margin | 5.4% | 6.5% |
| Free cash flow | −$188M | $502M |
| Free cash flow margin | −0.6% | 2.8% |
| Return on capital | 8.6% | 10.0% |
| Net debt to EBITDA | 1.0x | 1.7x |
| Dividends and buybacks | $1.2B | $1.2B |
| Change in diluted share count | −3.1% | −5.0% |
| Last close | $257.35 | $237.55 |
| P/E at the last close | 20.5× | 17.5× |
| Insider trades, last 12 months | sold $57.0 million | sold $8.9 million |
| Piotroski F-score | 6 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
NucorSteel Dynamics
Operating margin
Percent of revenue
NucorSteel Dynamics
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
NucorSteel Dynamics
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Nucor and Steel Dynamics pages.