Question 1

What is Steel Dynamics's P/B ratio?

Accepted Answer

Steel Dynamics (STLD) P/B ratio is 4.2× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Steel Dynamics?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Steel Dynamics specifically, the relevant sector benchmark is the current sector median of 2.9×.

Question 5

Is Steel Dynamics's P/B ratio high or low?

Accepted Answer

Steel Dynamics's P/B ratio of 4.2× is above its own 5-year average of 2.2× and above the sector median of 2.9×. That places the current reading at the 100th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Steel Dynamics's historical P/B ratio range?

Accepted Answer

In the available daily series, Steel Dynamics (STLD) P/B ratio has ranged from a low of 0.9× in 2011 to a high of 4.4× in 2026. The 5-year average is 2.2× and the 5-year median is 2.1×.

Question 7

What was Steel Dynamics's P/B ratio in 2025?

Accepted Answer

Steel Dynamics (STLD) P/B ratio at the end of 2025 was 2.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Steel Dynamics's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$24.68B	$8.96B	2.8×	+0.8×	Dec 31, 2025
2024	$17.35B	$8.93B	1.9×	-0.2×	Dec 31, 2024
2023	$19.07B	$8.87B	2.2×	+0.1×	Dec 31, 2023
2022	$17.07B	$8.13B	2.1×	+0.2×	Dec 31, 2022
2021	$12.25B	$6.30B	1.9×	+0.2×	Dec 31, 2021
2020	$7.76B	$4.35B	1.8×	-0.0×	Dec 31, 2020
2019	$7.32B	$4.08B	1.8×	+0.0×	Dec 31, 2019
2018	$6.89B	$3.94B	1.8×	-1.3×	Dec 31, 2018
2017	$10.23B	$3.35B	3.1×	+0.1×	Dec 31, 2017
2016	$8.67B	$2.93B	3.0×	+1.4×	Dec 31, 2016
2015	$4.31B	$2.68B	1.6×	-0.0×	Dec 31, 2015
2014	$4.75B	$2.91B	1.6×	-0.1×	Dec 31, 2014
2013	$4.34B	$2.55B	1.7×	+0.5×	Dec 31, 2013
2012	$3.01B	$2.41B	1.3×	+0.0×	Dec 31, 2012
2011	$2.88B	$2.32B	1.2×	-0.7×	Dec 31, 2011
2010	$3.98B	$2.09B	1.9×	-0.0×	Dec 31, 2010
2009	$3.82B	$1.99B	1.9×	+0.7×	Dec 31, 2009
2008	$2.03B	$1.62B	1.3×	-2.4×	Dec 31, 2008
2007	$5.55B	$1.53B	3.6×	+1.2×	Dec 31, 2007
2006	$3.00B	$1.23B	2.4×	+0.7×	Dec 31, 2006
2005	$1.53B	$879.87M	1.7×	-0.4×	Dec 31, 2005
2004	$1.81B	$847.12M	2.1×	+0.2×	Dec 31, 2004
2003	$1.11B	$587.23M	1.9×	+0.8×	Dec 31, 2003
2002	$572.63M	$521.66M	1.1×	-0.2×	Dec 31, 2002
2001	$530.61M	$418.57M	1.3×	—	Dec 31, 2001


Linde (LIN)	6.0×
RPM International (RPM)	4.6×
Freeport-McMoRan (FCX)	4.4×
Vulcan Materials (VMC)	4.3×
Air Products and Chemicals (APD)	4.1×
Agnico Eagle Mines (AEM)	3.9×
CF Industries Holdings (CF)	3.7×
Newmont (NEM)	3.4×
Martin Marietta Materials (MLM)	3.1×
CRH (CRH)	3.0×
PPG Industries (PPG)	3.0×
LyondellBasell (LYB)	2.6×
Corteva (CTVA)	2.3×
Albemarle (ALB)	2.1×
Dow (DOW)	2.0×
Weyerhaeuser (WY)	1.9×
Nucor (NUE)	1.8×
H.B. Fuller (FUL)	1.7×
Eastman Chemical (EMN)	1.4×
Avient (AVNT)	1.4×
Ashland (ASH)	1.4×
DuPont de Nemours (DD)	1.3×
International Flavors & Fragrances (IFF)	1.3×
Stepan (SCL)	1.0×
Mosaic (MOS)	0.7×

P/B Ratio for Steel Dynamics (STLD)

P/B Ratio daily chart for Steel Dynamics (STLD)

Historical P/B Ratio for Steel Dynamics (STLD) from 2001 to 2025

About P/B Ratio at Steel Dynamics (STLD)

Steel Dynamics P/B Ratio by Year

Steel Dynamics P/B Ratio 2025: 2.8×

Steel Dynamics P/B Ratio 2024: 1.9×

Steel Dynamics P/B Ratio 2023: 2.2×

Steel Dynamics P/B Ratio 2022: 2.1×

Steel Dynamics P/B Ratio 2021: 1.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Steel Dynamics (STLD) Key Financials

P/B Ratio daily chart for Steel Dynamics (STLD)

Historical P/B Ratio for Steel Dynamics (STLD) from 2001 to 2025

About P/B Ratio at Steel Dynamics (STLD)

Steel Dynamics P/B Ratio by Year

Steel Dynamics P/B Ratio 2025: 2.8×

Steel Dynamics P/B Ratio 2024: 1.9×

Steel Dynamics P/B Ratio 2023: 2.2×

Steel Dynamics P/B Ratio 2022: 2.1×

Steel Dynamics P/B Ratio 2021: 1.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Steel Dynamics's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Steel Dynamics?

+Is Steel Dynamics's P/B ratio high or low?

+What is Steel Dynamics's historical P/B ratio range?

+What was Steel Dynamics's P/B ratio in 2025?

+Why does Steel Dynamics's P/B ratio change over time?

Steel Dynamics (STLD) Key Financials