Steel Dynamics Inc risk profile
65 Stretched several inputs deteriorating together
Measured 21 October 2026 from STLD's filed statements. Recomputed nightly.
65 (Stretched), driven by Concentration at 92, over 6 weighted categories on the MANUFACTURER profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 32 | Normal | Stable | One-year price volatility — 36.2% |
| Operating pressure | 79 | Stretched | Easing | Operating-margin drift — -14.8 percentage points |
| Cash conversion | 46 | Elevated | Easing | Capital spending against operating cash — 0.65x |
| Leverage and coverage | 14 | Contained | Stable | Net debt to EBITDA — 1.70x |
| Competitive position | 69 | Stretched | Stable | Operating-margin gap against peers — -6.3 percentage points |
| Concentration | 92 | Acute | Stable | Geographic concentration — 8,770 HHI |
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.
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Financials, valuation and price history for Steel Dynamics Inc