Stock Analysis on Net
Stock Analysis on Net

Steel Dynamics Inc. (NASDAQ:STLD)

This company has been moved to the archive! The financial data has not been updated since October 26, 2022.

Common-Size Balance Sheet: Assets 

Steel Dynamics Inc., common-size consolidated balance sheet: assets

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Cash and equivalents 9.93 14.77 16.69 10.75 15.00
Short-term investments 0.00 0.00 3.17 2.97 0.00
Accounts receivable, unrelated parties 15.25 10.45 10.17 13.50 12.35
Accounts receivable, related parties 0.04 0.04 0.04 0.05 0.33
Accounts receivable, net of allowances for credit losses 15.29% 10.49% 10.20% 13.55% 12.67%
Inventories 28.18 19.90 20.41 24.13 22.16
Other current assets 1.67 0.80 0.92 0.94 1.33
Current assets 55.07% 45.96% 51.39% 52.35% 51.17%
Property, plant and equipment, net 37.92 44.31 37.89 38.24 39.03
Intangible assets, net 2.36 3.50 3.96 3.51 3.75
Goodwill 3.62 4.93 5.47 5.58 5.64
Other assets 1.03 1.29 1.28 0.33 0.40
Noncurrent assets 44.93% 54.04% 48.61% 47.65% 48.83%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Cash and Equivalents
The percentage of cash and equivalents relative to total assets exhibited a fluctuating trend over the five-year period. After a decline from 15% in 2017 to 10.75% in 2018, the ratio rose sharply to 16.69% in 2019, followed by a slight decrease in 2020 to 14.77%, and then a significant drop to 9.93% in 2021. This pattern indicates variable liquidity management, with a noticeable reduction in liquid assets by the end of the period.
Short-term Investments
Data for short-term investments is partially available, with an introduction at 2.97% in 2018 and a slight increase to 3.17% in 2019, followed by missing values in subsequent years. This suggests either a divestment or reclassification of short-term investments, or a lack of reporting in later periods.
Accounts Receivable (Unrelated Parties)
The accounts receivable from unrelated parties showed an overall upward trend, starting at 12.35% in 2017, increasing to 13.5% in 2018, then declining to 10.17% in 2019 and 10.45% in 2020, before rising significantly to 15.25% in 2021. The initial increase, mid-period decline, and subsequent rise may reflect changes in sales, credit terms, or collection efficiency with unrelated customers.
Accounts Receivable (Related Parties)
These receivables remained very low and stable, hovering near zero, between 0.33% in 2017 and 0.04% in subsequent years through 2021. This consistency shows minimal activity or negligible impact from related party transactions on total assets.
Accounts Receivable, Net of Allowances for Credit Losses
The net accounts receivable, combining related and unrelated parties after allowances, generally followed the trend seen in unrelated parties alone. The ratio peaked at 13.55% in 2018, then declined to just above 10% in 2019 and 2020, before rising to 15.29% in 2021, indicating changes in net collectible receivables consistent with the overall accounts receivable trends.
Inventories
Inventory levels as a percentage of total assets revealed notable variability. Starting at 22.16% in 2017, inventories rose to 24.13% in 2018, declined to 20.41% in 2019 and further to 19.9% in 2020, but then increased sharply to 28.18% in 2021. This pattern could imply adjustments in production, sales demand variability, or shifts in inventory management strategies.
Other Current Assets
The portion of other current assets relative to total assets showed a declining pattern from 1.33% in 2017 to 0.8% in 2020, followed by a rebound to 1.67% in 2021. This fluctuation might be associated with changes in prepaid expenses, refundable taxes, or miscellaneous current asset components.
Current Assets
The total current assets percentage fluctuated moderately. It peaked slightly above 52% in 2018 and remained near 51% in 2019 before declining to 45.96% in 2020, followed by a recovery to the highest level in the series at 55.07% in 2021. This indicates varying levels of liquidity and working capital availability across the periods.
Property, Plant, and Equipment (PP&E), Net
The share of net PP&E relative to total assets was relatively stable, fluctuating between 37.89% and 44.31%. Notably, it increased in 2020 to 44.31%, its highest level over the period, but returned to 37.92% in 2021. This rise and fall could be linked to capital expenditure timings or asset disposals.
Intangible Assets, Net
Intangible assets as a percentage of total assets showed a gradual decline from 3.75% in 2017 to 2.36% in 2021, suggesting amortization exceeding acquisitions or impairment losses over time.
Goodwill
Goodwill decreased steadily from 5.64% in 2017 to 3.62% in 2021, indicating possible impairment or write-offs, or absence of new acquisitions contributing to goodwill.
Other Assets
Other assets demonstrated an increase from 0.33% in 2018 to a peak of 1.29% in 2020, followed by a slight decline to 1.03% in 2021, reflecting minor fluctuations in miscellaneous asset components.
Noncurrent Assets
The noncurrent asset component closely mirrored PP&E and intangible assets trends, declining from 48.83% in 2017 to 44.93% in 2021 after peaking at 54.04% in 2020. The pronounced rise in 2020 suggests significant investment or capitalizing activities during that year, with a reduction the following year possibly due to asset sales or depreciation.
Total Assets
By definition, total assets remained consistent at 100% across all periods, serving as the denominator for other ratios.