Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
Steel Dynamics Inc (STLD): Sinton Ramp-Up & Aluminum Ambitions- What’s the Earnings Impact, Outlook & its 5 Key Strategic & Competitive Levers ? – Forecasts, 4Q Earnings Review, DCF, Valuation, peer comps & Risks
Steel Dynamics, Inc. (SDI) delivered a solid performance in 2024, showcasing the resilience of its diversified business model amid steel pricing pressures and seasonally weaker demand. The company reported Q4 adjusted EPS of $1.36, beating estimates by $0.07, while revenue of $3.87 billion missed expectations by $89.67 million. Full-year net income totaled $1.5 billion, supported by strong cash flow conversion of $1.8 billion and a robust three-year after-tax return on invested capital of 23%. Operationally, the steel segment faced headwinds from a 5% shipment decline and lower realized steel prices, while steel fabrication benefited from an extended backlog into 1H 2025. The Sinton facility’s ramp-up reached 80% utilization by Q4 and exceeded 90% in early 2025, with profitability improvements expected in the coming quarters. SDI’s strategic focus on high-margin coated products and its aluminum expansion, with initial ingot production in January and ramp-up to 75% capacity by 2026, position the company for long-term margin growth. Key tailwinds include infrastructure investments and reshoring trends, while risks stem from pricing volatility and raw material inflation. With Sinton and aluminum ramping up, can SDI effectively balance growth investments and capital returns to sustain earnings momentum amid evolving market dynamics?