Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Current Ratio since 2005
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Profitability Ratios (Summary)
Steel Dynamics Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
- Gross Profit Margin
- The gross profit margin exhibits a generally upward trend from March 2017 through the third quarter of 2022. Starting around 16.59% in March 2017, it shows moderate increases with some fluctuations until early 2020, where values stabilize around 14%. Thereafter, a significant and consistent rise occurs, reaching a peak of approximately 31.69% in September 2022, followed by a slight decrease to 30.3% by the end of the observed period. This pattern indicates improving efficiency in production or cost control over time, especially in the latter periods.
- Operating Profit Margin
- The operating profit margin follows a similar overall increasing trend. Initial values around 11.18% in March 2017 increase modestly to about 14.57% by the end of 2018. A decline is observed during the 2019 and 2020 periods, falling to roughly 8.24% by December 2020. Post that period, a substantial recovery ensues, with the margin rising sharply to 26.44% in September 2022. This suggests cyclical pressures impacting operating profitability in 2019-2020, followed by operational improvements and/or market conditions favoring higher margins.
- Net Profit Margin
- The net profit margin reveals a gradual increase from 8.52% in March 2017 up to 11.49% by December 2017. Subsequently, a declining trend takes place through 2019 and 2020, with the margin dropping to near 5.18% in June 2020. From late 2020 onward, a steady and marked improvement is evident, reaching nearly 19.81% in September 2022. This progression mirrors the patterns in gross and operating margins, highlighting recovery and strengthening profitability at the bottom line after a period of contraction.
- Return on Equity (ROE)
- The ROE shows significant variability but with a pronounced upward trajectory over the entire period. Beginning near 24.25% at the start of the data in March 2017, it climbs steadily to just above 32% by the end of 2017. The years 2019 and 2020 reveal a decline with ROE decreasing to approximately 11.53% by mid-2020, indicating weaker shareholder returns during this phase. Following this, a notable and rapid increase transpires, peaking at 57.91% in September 2022 before a slight reduction to 54.17%. Such a high ROE suggests efficient equity utilization and robust profitability in recent quarters.
- Return on Assets (ROA)
- The ROA trends similarly, growing from roughly 11.85% in early 2017 to a peak of around 16.58% by the end of 2017. The years 2019 and 2020 again present a downturn, with ROA falling to nearly 5.62% by December 2020, implying less effective asset utilization in this interval. Post-2020, the ROA improves considerably, reaching an apex of about 32.05% in September 2022 before a minor decline to 30.74%. The enhanced ROA aligns with profitability gains and operational efficiency improvements in the latter periods.
Return on Sales
Return on Investment
Gross Profit Margin
Steel Dynamics Inc., gross profit margin calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Gross profit | ||||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Gross profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Gross profit margin = 100
× (Gross profitQ3 2022
+ Gross profitQ2 2022
+ Gross profitQ1 2022
+ Gross profitQ4 2021)
÷ (Net salesQ3 2022
+ Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Gross Profit
- The gross profit demonstrated variability throughout the observed periods, with an initial decline from 472,154 thousand US dollars in March 2017 to a low of 316,409 thousand US dollars in December 2019. Following this decline, a recovery and substantial increase occurred between 2020 and 2022, peaking at 1,882,342 thousand US dollars in March 2022, before a slight decrease to 1,464,429 thousand US dollars in September 2022. This upward trend in recent periods indicates improved profitability at the gross level.
- Net Sales
- Net sales showed a general upward trend over the entire period, although with some fluctuations. Starting at approximately 2,368,216 thousand US dollars in March 2017, net sales rose steadily with minor downturns, reaching a maximum of 6,212,878 thousand US dollars in June 2022. A notable dip was observed in September 2022, falling to 5,651,707 thousand US dollars. The persistent growth in net sales reflects expanding revenue generation, notwithstanding some volatility.
- Gross Profit Margin
- The gross profit margin data is available starting from December 2017, where it stood at 16.59%. This margin exhibited a progressive upward trend, rising steadily each quarter. Notably, it increased from 14.00% in December 2020 to a high of 31.69% in June 2022 before a slight drop to 30.30% in September 2022. The trend indicates an improvement in cost management or pricing power, enhancing profitability relative to sales over time.
- Summary of Trends
- Overall, the financial data reveals a company experiencing initial pressures on both gross profit and net sales up to around 2019, followed by a significant recovery and growth phase through 2020 to mid-2022. Gross profit margins have substantially improved, doubling and even more than doubling in percentage terms since late 2017. This suggests enhanced operational efficiency or favorable market conditions. The slight declines in gross profit and net sales in the latest quarter could indicate emerging challenges, but the general pattern up to that point is positive.
Operating Profit Margin
Steel Dynamics Inc., operating profit margin calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Operating income | ||||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Operating profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Operating profit margin = 100
× (Operating incomeQ3 2022
+ Operating incomeQ2 2022
+ Operating incomeQ1 2022
+ Operating incomeQ4 2021)
÷ (Net salesQ3 2022
+ Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Operating Income Trend
- The operating income demonstrates notable volatility across the observed quarters. Starting with a high point in the first quarter of 2017, it declines through the second and fourth quarters of 2017, followed by a recovery and peak in the third quarter of 2018. A decline ensues in 2019 and early 2020, with a notable trough in the second and third quarters of 2020. From late 2020 onward, operating income significantly increases, reaching its highest values during 2021, followed by a decrease in the third quarter of 2022.
- Net Sales Pattern
- Net sales consistently increased from early 2017 through the end of 2018, reaching a peak in the third quarter of 2018. Thereafter, sales experienced a decline during 2019 and the early part of 2020 with the lowest point in the second quarter of 2020. Beginning in late 2020, net sales rebounded robustly, achieving the highest sales figures in the second and third quarters of 2022, although there was a slight downturn in the last reported quarter of 2022.
- Operating Profit Margin Evolution
- The operating profit margin data begins in the first quarter of 2018 and shows a generally upward trajectory over the entire period. Initially hovering around 10-12%, margins demonstrate steady improvement with some fluctuations, notably rising above 15% in 2021 and peaking beyond 25% in 2022 before a minor decline in the last quarter. This indicates increasing efficiency or profitability relative to sales over time.
- Overall Insights
- A correlation between net sales and operating income is evident, with both metrics experiencing declines in 2019-2020 and subsequent strong recoveries. The sharp increase in operating profit margins during 2021 and 2022 suggests improved cost management or higher pricing power. The decreased operating income and net sales in the last quarter of 2022 may warrant further attention to determine underlying causes.
Net Profit Margin
Steel Dynamics Inc., net profit margin calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income attributable to Steel Dynamics, Inc. | ||||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| Net profit margin1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Net profit margin = 100
× (Net income attributable to Steel Dynamics, Inc.Q3 2022
+ Net income attributable to Steel Dynamics, Inc.Q2 2022
+ Net income attributable to Steel Dynamics, Inc.Q1 2022
+ Net income attributable to Steel Dynamics, Inc.Q4 2021)
÷ (Net salesQ3 2022
+ Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income
- The net income demonstrates notable fluctuations over the analyzed quarters. Initially, from March 2017 through December 2017, net income grew from 200,817 to 304,733 thousand US dollars, showing a positive upward trajectory. This growth trend continued into 2018, peaking at 398,375 thousand US dollars in September before declining in the last quarter of 2018. During 2019 and early 2020, net income decreased significantly, particularly evident in the second and third quarters of 2020 where the values were substantially lower than previous periods. From the fourth quarter of 2020 onwards, a strong recovery trend was observed, with net income increasing sharply and reaching a peak of over 1.09 million thousand US dollars by December 2021, followed by a slight decline in 2022 but remaining high relative to earlier years.
- Net Sales
- The net sales figures present a consistent upward trend from 2017 through 2021. Starting around 2.37 million thousand US dollars in the first quarter of 2017, net sales increased steadily to a high of approximately 6.21 million thousand US dollars by the second quarter of 2022. There are, however, some quarterly fluctuations, such as the slight declines at the end of 2017 and 2019, and a more pronounced dip in mid-2020, likely reflecting external economic impacts. Nonetheless, the overall growth trajectory is strong, with 2021 registering the highest sales within the period analyzed.
- Net Profit Margin
- The net profit margin was not reported prior to March 2018 but shows a clear upward trend from that point onward. Starting at around 8.52% in March 2018, the margin increased gradually through 2019, despite a mild decline in quarterly margins within that year. A low point occurred in mid-2020, with margins dropping to just above 5%. Following this period, the margin improved significantly, reaching a peak of nearly 20% by September and December 2021, before slightly declining to just under 19% in the third quarter of 2022. This improvement indicates enhanced profitability efficiency over time, particularly notable in the recovery and growth phase after mid-2020.
- Overall Trends and Insights
- Across all three key financial indicators—net income, net sales, and net profit margin—the data reveal a general pattern of growth interspersed with periods of decline, most notably around 2019 and mid-2020. The declines coincide with global economic challenges and appear to have significantly impacted profitability and income, although the company’s sales base retained relative resilience. The rapid recovery and substantial increases in both net income and net profit margin from late 2020 through 2021 suggest effective cost management and improved operational efficiency during this period. Despite a slight contraction in sales and income in 2022 compared to the peaks in 2021, the financial performance remains robust relative to earlier years.
Return on Equity (ROE)
Steel Dynamics Inc., ROE calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income attributable to Steel Dynamics, Inc. | ||||||||||||||||||||||||||||||
| Total Steel Dynamics, Inc. equity | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| ROE1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
ROE = 100
× (Net income attributable to Steel Dynamics, Inc.Q3 2022
+ Net income attributable to Steel Dynamics, Inc.Q2 2022
+ Net income attributable to Steel Dynamics, Inc.Q1 2022
+ Net income attributable to Steel Dynamics, Inc.Q4 2021)
÷ Total Steel Dynamics, Inc. equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends concerning profitability, equity growth, and return on equity over the period examined.
- Net Income
- The net income shows a fluctuating yet generally upward trend over the years. Starting around 200,817 thousand US dollars in the first quarter of 2017, net income initially experienced moderate fluctuations, with peaks such as 398,375 thousand in the third quarter of 2018 and troughs like 75,496 thousand in the second quarter of 2020. Notably, there was a significant increase from early 2021 onwards, with net income reaching 1,109,505 thousand in the fourth quarter of 2021 before slightly declining yet remaining relatively high around 914,325 thousand by the third quarter of 2022. This suggests an overall improvement in profitability with some volatility in the interim periods.
- Total Equity
- Total equity consistently increased throughout the period under review, beginning at 3,035,179 thousand US dollars in the first quarter of 2017 and steadily rising to 7,971,156 thousand by the third quarter of 2022. This over doubling of equity indicates strong capital accumulation and an expanding financial base, reflecting retained earnings, potential capital injections, or revaluation effects.
- Return on Equity (ROE)
- ROE data is not available for the early periods but starts from approximately 24.25% in the first quarter of 2018. There is a steady increase with some fluctuations, reaching a low of about 11.53% in the second quarter of 2020, which corresponds to the period of lowest net income, indicating decreased profitability efficiency during that time. Post-2020, ROE markedly improves, culminating at a peak of 57.91% in the fourth quarter of 2021, signaling very strong returns relative to equity during this period. By the third quarter of 2022, ROE slightly decreases to 54.17% but remains significantly higher than earlier years.
In summary, the data reflects a company experiencing robust growth in net income and equity over nearly six years despite interim volatility, especially during 2020. The ROE trend aligns closely with net income variations, highlighting improvements in the company's ability to generate profit from its equity, particularly after the challenges seen in 2020. The substantial increases in net income and equity combined with high ROE values post-2020 indicate an enhanced operational and financial performance.
Return on Assets (ROA)
Steel Dynamics Inc., ROA calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net income attributable to Steel Dynamics, Inc. | ||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||
| Profitability Ratio | ||||||||||||||||||||||||||||||
| ROA1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
ROA = 100
× (Net income attributable to Steel Dynamics, Inc.Q3 2022
+ Net income attributable to Steel Dynamics, Inc.Q2 2022
+ Net income attributable to Steel Dynamics, Inc.Q1 2022
+ Net income attributable to Steel Dynamics, Inc.Q4 2021)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in profitability, asset growth, and return on assets (ROA) over the examined periods.
- Net Income Attributable to Steel Dynamics, Inc.
- The net income figures fluctuate significantly across quarters but generally exhibit an upward trajectory from 2017 to 2022. Starting at approximately $200.8 million in Q1 2017, net income shows cyclical rises and dips, with strong peaks in late 2018 and a notable reduction in mid-2020. From 2021 onward, a substantial increase is observed, culminating in net income exceeding $1.1 billion by Q4 2021, followed by a slight decline in the subsequent quarters of 2022. This suggests improved profitability with seasonal or market-driven variability.
- Total Assets
- Total assets demonstrate a consistent and steady growth pattern throughout all periods. Beginning at around $6.7 billion at the start of 2017, assets increased gradually, reaching approximately $14.0 billion by Q3 2022. This expansion indicates ongoing capital investment or asset accumulation, supporting operational scaling or strategic acquisitions over time.
- Return on Assets (ROA)
- The ROA metric, available from Q1 2018 onward, reflects an overall improving efficiency in asset utilization to generate profit. Initial values near 11.85% show moderate profitability relative to asset base, followed by an upward trend that peaks during 2021 and early 2022, reaching a maximum surpassing 32%. This high ROA implies enhanced management effectiveness or operational gains achieved over time. The slight pullback to just over 30% in the latest quarter may indicate normalization or emerging pressures.
In summary, the data indicate robust growth in both profitability and asset base, with considerable improvements in asset efficiency as measured by ROA. Seasonal and cyclical variations in net income are apparent, yet the long-term trajectory points toward significantly enhanced financial performance by the end of the observed period.