HWM vs STLD
Howmet Aerospace Inc. and Steel Dynamics Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | HWM | STLD |
|---|---|---|
| Revenue | $8.3B | $18.2B |
| Net income | $1.5B | $1.2B |
| Gross margin | 34.2% | 13.2% |
| Net margin | 18.3% | 6.5% |
| Return on equity | 30.4% | 13.3% |
| Diluted EPS | $3.71 | $7.99 |
| Dividend / share | $0.44 | $2.00 |
| Payout ratio | · | 24.6% |
| Free cash flow | $1.4B | $501.5M |
| Equity | $5.4B | $9.0B |
| Net debt / equity | 0.43× | 0.38× |
| Current ratio | 2.13× | 3.06× |
| Revenue CAGR 5y | 9.4% | 13.6% |
| Profit CAGR 5y | 42.0% | · |
STLD bills 2.2× the revenue of HWM, and HWM keeps more of each dollar of revenue as profit (18.3% against 6.5%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | HWM | STLD |
|---|---|---|
| FY2025 | $8.3B | $18.2B |
| FY2024 | $7.4B | $17.5B |
| FY2023 | $6.6B | $18.8B |
| FY2022 | $5.7B | $22.3B |
| FY2021 | $5.0B | $18.4B |
| FY2020 | $5.3B | $9.6B |
| FY2019 | $7.1B | $10.5B |
| FY2018 | $6.8B | $11.8B |
| FY2017 | $13.0B | $9.5B |
| FY2016 | $12.4B | $7.8B |
Bottom line
| Fiscal year | HWM | STLD |
|---|---|---|
| FY2025 | $1.5B | $1.2B |
| FY2024 | $1.2B | $1.5B |
| FY2023 | $765.0M | $2.5B |
| FY2022 | $469.0M | $3.9B |
| FY2021 | $258.0M | $3.2B |
| FY2020 | $261.0M | $570.8M |
| FY2019 | $470.0M | $677.9M |
| FY2018 | $642.0M | $1.3B |
| FY2017 | $-74.0M | $805.8M |
| FY2016 | $-941.0M | $360.0M |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$9,924,581,000 | STLD |
| FY2024 | −$10,110,390,000 | STLD |
| FY2023 | −$12,155,316,000 | STLD |
| FY2022 | −$16,597,774,000 | STLD |
| FY2021 | −$13,436,850,000 | STLD |
| FY2020 | −$4,342,482,000 | STLD |
| FY2019 | −$3,366,991,000 | STLD |
| FY2018 | −$5,043,839,000 | STLD |
| FY2017 | +$3,421,203,000 | HWM |
| FY2016 | +$4,616,891,000 | HWM |
| FY2015 | +$4,818,589,000 | HWM |
| FY2014 | +$3,786,048,000 | HWM |
| FY2013 | +$15,659,076,000 | HWM |
| FY2012 | +$16,409,766,000 | HWM |
| FY2011 | +$16,953,500,000 | HWM |
| FY2010 | +$14,712,113,000 | HWM |
| FY2009 | +$14,480,194,000 | HWM |
| FY2008 | +$18,820,479,000 | HWM |
| FY2007 | +$24,895,451,000 | HWM |
The higher-revenue side has changed between HWM and STLD over this period. The gap has narrowed since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +11.7 pp | HWM |
| FY2024 | +6.7 pp | HWM |
| FY2023 | −1.6 pp | STLD |
| FY2022 | −9.1 pp | STLD |
| FY2021 | −12.4 pp | STLD |
| FY2020 | −1.0 pp | STLD |
| FY2019 | +0.1 pp | HWM |
| FY2018 | −1.2 pp | STLD |
| FY2017 | −9.0 pp | STLD |
| FY2016 | −11.7 pp | STLD |
| FY2015 | +0.3 pp | HWM |
| FY2014 | +0.4 pp | HWM |
| FY2013 | −12.0 pp | STLD |
| FY2012 | −1.3 pp | STLD |
| FY2011 | −0.1 pp | STLD |
| FY2010 | −0.2 pp | STLD |
| FY2009 | −5.6 pp | STLD |
| FY2008 | −5.1 pp | STLD |
| FY2007 | +1.0 pp | HWM |
The higher net margin has changed hands between HWM and STLD over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
HWM's net margin has been more volatile than STLD's over the 19 comparable fiscal years — 7.2 percentage points of standard deviation against 5.3.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between HWM and STLD over these 19 fiscal years — HWM led in 6 and STLD in 13.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
STLD's return on equity has been more volatile than HWM's over the 8 comparable fiscal years — 20.2 percentage points of standard deviation against 13.1.
8 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between HWM and STLD over these 8 fiscal years — HWM led in 2 and STLD in 6.
8 of 19 comparable fiscal years — a year missing data on either side is not counted.