Direct Answer
Steel Dynamics reports revenue across 2 geographic regions in its fiscal 2025 Form 10-K. United States is the largest, with $17.0 billion of revenue (94% of the total), followed by Outside the United States at $1.2 billion (6%). 94% of revenue came from the United States.
How Does Steel Dynamics Make Money?
United States supplies 94% of revenue, so Steel Dynamics's results move mostly with that one region; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, United States grew fastest (+5.9%) and Outside the United States slowest (-21.2%), so the revenue mix tilts toward United States while that gap lasts.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $17.0 billion | $16.1 billion | 93.6% | 5.9% |
| Outside the United States | $1.2 billion | $1.5 billion | 6.4% | -21.2% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Steel Dynamics's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Steel Dynamics reported in the segment note and revenue disclosures of its Form 10-K filed February 27, 2026 (accession 0001104659-26-021395), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Steel Dynamics's main regions?
In its fiscal 2025 Form 10-K, Steel Dynamics reports revenue for United States and Outside the United States.
Which part of Steel Dynamics brings in the most revenue?
United States, with $17.0 billion of revenue in fiscal 2025, or 94% of the total.
How much of Steel Dynamics's revenue comes from outside the United States?
6% in fiscal 2025, by the geographic breakdown Steel Dynamics reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.