Revenue vs Net income
Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.
Margin trend
Gross, operating and net margin. Margins are derived from reported dollars.
Revenue YoY growth
Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).
Income statement
From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $18.4B | $22.3B | $18.8B | $17.5B | $18.2B |
| YoY | — | +20.9% | -15.6% | -6.7% | +3.6% |
| Cost of goods sold | $13.0B | $16.1B | $14.7B | $14.7B | $15.8B |
| YoY | — | +23.7% | -8.6% | -0.1% | +7.1% |
| Gross profit | $5.4B | $6.1B | $4.0B | $2.8B | $2.4B |
| YoY | — | +14.1% | -33.9% | -30.7% | -14.6% |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | $644.0M | $545.6M | $588.6M | $664.1M | $765.3M |
| YoY | — | -15.3% | +7.9% | +12.8% | +15.2% |
| Operating income | $4.3B | $5.1B | $3.2B | $1.9B | $1.5B |
| YoY | — | +18.4% | -38.1% | -38.3% | -24.0% |
| Pretax income | $4.2B | $5.0B | $3.2B | $2.0B | $1.5B |
| YoY | — | +19.3% | -35.9% | -38.4% | -24.7% |
| Income tax | $962.3M | $1.1B | $751.6M | $432.9M | $305.7M |
| YoY | — | +18.6% | -34.2% | -42.4% | -29.4% |
| Net income | $3.2B | $3.9B | $2.5B | $1.5B | $1.2B |
| YoY | — | +20.2% | -36.5% | -37.3% | -22.9% |
| EPS — basic | $15.67 | $21.06 | $14.72 | $9.89 | $8.02 |
| YoY | — | +34.4% | -30.1% | -32.8% | -18.9% |
| EPS — diluted | $15.56 | $20.92 | $14.64 | $9.84 | $7.99 |
| YoY | — | +34.4% | -30.0% | -32.8% | -18.8% |
| Weighted shares — basic | 205.1M | 183.4M | 166.6M | 155.4M | 147.8M |
| Weighted shares — diluted | 206.6M | 184.6M | 167.4M | 156.1M | 148.4M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $1.2B | $1.6B | $1.4B | $589.5M | $769.9M |
| YoY | — | +30.9% | -14.0% | -57.9% | +30.6% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $1.9B | $2.1B | $1.6B | $1.4B | $1.7B |
| YoY | — | +7.3% | -21.8% | -11.9% | +18.7% |
| Inventory | $3.5B | $3.1B | $2.9B | $3.1B | $3.7B |
| YoY | — | -11.4% | -7.5% | +7.6% | +20.1% |
| Total current assets | $6.9B | $7.6B | $6.8B | $5.4B | $6.5B |
| YoY | — | +10.7% | -11.1% | -20.0% | +19.4% |
| Total assets | $12.5B | $14.2B | $14.9B | $14.9B | $16.4B |
| YoY | — | +13.0% | +5.3% | +0.2% | +9.9% |
| Total current liabilities | $2.2B | $2.0B | $2.3B | $2.2B | $2.1B |
| YoY | — | -8.8% | +14.8% | -7.8% | -1.3% |
| Total liabilities | $6.2B | $6.1B | $6.1B | $6.0B | $7.5B |
| YoY | — | -2.4% | +0.1% | -1.3% | +25.0% |
| Total equity | $6.3B | $8.1B | $8.9B | $8.9B | $9.0B |
| YoY | — | +29.0% | +9.1% | +0.8% | +0.3% |
| Shares outstanding | 195.0M | 172.9M | 160.0M | 151.1M | 144.9M |
| YoY | — | -11.3% | -7.5% | -5.6% | -4.1% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.2B | $4.5B | $3.5B | $1.8B | $1.4B |
| YoY | — | +102.4% | -21.1% | -47.6% | -21.4% |
| Capital expenditures | $1.0B | $908.9M | $1.7B | $1.9B | $948.0M |
| YoY | — | -9.7% | +82.4% | +12.7% | -49.3% |
| Free cash flow | $1.2B | $3.6B | $1.9B | $-23.5M | $501.5M |
| YoY | — | +196.5% | -47.6% | -101.3% | +2234.0% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $1.1B | $1.8B | $1.5B | $1.2B | $900.9M |
| YoY | — | +69.8% | -19.4% | -16.5% | -25.7% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 29.1% | 27.5% | 21.5% | 16.0% | 13.2% |
| Operating margin | 23.4% | 22.9% | 16.8% | 11.1% | 8.1% |
| Net margin | 17.5% | 17.4% | 13.0% | 8.8% | 6.5% |
| Free cash flow margin | 6.5% | 16.0% | 9.9% | -0.1% | 2.8% |
| Effective tax rate | 22.9% | 22.7% | 23.3% | 21.8% | 20.5% |
| Current ratio | 3.10x | 3.76x | 2.91x | 2.53x | 3.06x |
| Total liabilities / equity | 0.99x | 0.75x | 0.68x | 0.67x | 0.84x |
Peer comparison — latest full year
Same sector (Materials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| STLD FY25 · this stock | $18.2B | +3.6% | 13.2% | 8.1% | 6.5% | 2.8% |
| DOW FY25 | $40.0B | -7.0% | — | — | — | — |
| LIN FY25 | $34.0B | +3.0% | — | 26.3% | 20.3% | 15.0% |
| NUE FY25 | $32.5B | +5.7% | — | — | 5.4% | -0.6% |
| FCX FY25 | $25.9B | +1.8% | — | 25.2% | — | — |
| SHW FY25 | $23.6B | +2.1% | 48.8% | — | 10.9% | — |
| NEM FY25 | $22.7B | +21.3% | — | — | 31.3% | — |
| CTVA FY25 | $17.4B | +2.9% | — | — | 6.3% | — |
| ECL FY25 | $16.1B | +2.2% | — | 17.0% | 12.9% | 11.8% |
| PPG FY25 | $15.9B | +0.2% | — | — | 9.9% | 7.3% |
| MOS FY25 | $12.1B | +8.4% | 15.8% | 6.8% | 4.5% | -4.4% |
Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.