--- title: "Steel Dynamics: Competitors" description: "Steel Dynamics compared with companies that share its SEC industry classification: revenue, growth and margins from SEC filings, and how peers are chosen." canonical: https://www.getswoopr.com/stocks/companies/steel-dynamics/competitors/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Steel Dynamics: Competitors & Industry Structure ## Direct Answer SEC EDGAR classifies Steel Dynamics under SIC code 3312 (Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)). Among Swoopr's S&P 500 Equal Weight companies, 5 others share that classification; by latest reported revenue, Steel Dynamics ranks 2 of 6. A filing classification is a starting point: a company's real competitors depend on its segments, which its 10-K describes. ## How Does Steel Dynamics Compare With Its Peers? | Company | Revenue (latest FY) | Revenue growth | Operating margin | Net margin | | --- | --- | --- | --- | --- | | [Nucor (NUE)](https://www.getswoopr.com/stocks/companies/nucor/) | $32.5 billion FY2025 | 5.7% | n/a | 5.4% | | **Steel Dynamics (STLD)** | $18.2 billion FY2025 | 3.6% | 8.1% | 6.5% | | [Commercial Metals Company (CMC)](https://www.getswoopr.com/stocks/companies/commercial-metals-company/) | $7.8 billion FY2025 | -1.6% | n/a | 1.1% | | [Carpenter Technology Corporation (CRS)](https://www.getswoopr.com/stocks/companies/carpenter-technology-corporation/) | $2.9 billion FY2025 | 4.3% | 18.1% | 13.1% | | [SunCoke Energy Inc. (SXC)](https://www.getswoopr.com/stocks/companies/suncoke-energy-inc/) | $1.8 billion FY2025 | -5.1% | -2.4% | -2.4% | | [Titan International Inc. (TWI)](https://www.getswoopr.com/stocks/companies/titan-international-inc/) | $1.8 billion FY2025 | -0.9% | 1.1% | -3.3% | Revenue growth compares each company's latest fiscal year with the one before. Fiscal years do not always end on the same date, so treat close comparisons with care. ![Bar chart of operating margin for Steel Dynamics and 3 peers: Steel Dynamics (STLD) 8.1%, Carpenter Technology Corporation (CRS) 18.1%, SunCoke Energy Inc. (SXC) -2.4%, Titan International Inc. (TWI) 1.1%.](https://www.getswoopr.com/images/charts/steel-dynamics-competitors-peer-margins.webp) *Operating margin of Steel Dynamics against companies sharing its SEC industry classification, from the table above. Select the chart to open it full size.* ## How Does Steel Dynamics Rank Among All SEC Filers in Its Industry Code? 6 companies with annual reports in Swoopr's SEC dataset share SIC code 3312 (Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)), a wider group than the S&P 500 Equal Weight companies above. Ranks run from 1 (highest) and use each company's latest fiscal year, in U.S. dollars. | Measure | Steel Dynamics | Median of filers | Rank | | --- | --- | --- | --- | | Revenue | $18.2 billion | $5.3 billion | 2 of 6 | | Revenue growth | 3.6% | 1.3% | 3 of 6 | | Net margin | 6.5% | 3.2% | 2 of 6 | A SIC code reflects the filer's main business as the SEC records it, so the group mixes companies of very different size; the median is a better guide than the average, and a rank near the top by revenue says nothing about quality. ## Where These Numbers Come From Every figure on this page is a value Steel Dynamics reported in its own SEC filings, read from the SEC's XBRL data (accession 0001104659-26-021395 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### Who are Steel Dynamics's competitors? Companies sharing Steel Dynamics's SEC classification (SIC code 3312 (Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens))) include Nucor (NUE), Commercial Metals Company (CMC), Carpenter Technology Corporation (CRS), SunCoke Energy Inc. (SXC), Titan International Inc. (TWI). Its 10-K names the competitors it considers most relevant. ### How does Steel Dynamics compare with its peers on margins? Steel Dynamics's fiscal 2025 operating margin was 8.1%, against a peer median of 1.1%. ### How are these peers chosen? By the SEC Standard Industrial Classification code each company files under, within Swoopr's S&P 500 Equal Weight company set, falling back to the two-digit major group when fewer than two companies share the exact code. Classification codes are broad, so read the peer list as a screen, not a verdict. ### How does Steel Dynamics rank among all companies in its SEC industry? Among 6 SEC filers under SIC code 3312, Steel Dynamics ranks 2 by latest revenue. ## References - [SEC EDGAR: STEEL DYNAMICS INC Form 10-K filed February 27, 2026](https://www.sec.gov/Archives/edgar/data/1022671/000110465926021395/stld-20251231x10k.htm) - [SEC EDGAR: STEEL DYNAMICS INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1022671&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Steel Dynamics company dossier](https://www.getswoopr.com/stocks/companies/steel-dynamics/) - [Steel Dynamics financial metrics](https://www.getswoopr.com/stocks/companies/steel-dynamics/metrics/) - [Steel Dynamics financial risk indicators](https://www.getswoopr.com/stocks/companies/steel-dynamics/risks/) - [Steel Dynamics peer comparison](https://www.getswoopr.com/stocks/companies/steel-dynamics/competitors/) - [Steel Dynamics business model and revenue mix](https://www.getswoopr.com/stocks/companies/steel-dynamics/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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