STLD vs TS
Steel Dynamics Inc. and Tenaris SA, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | STLD | TS |
|---|---|---|
| Revenue | $18.2B | $12.0B |
| Net income | $1.2B | $1.9B |
| Gross margin | 13.2% | 34.4% |
| Net margin | 6.5% | 16.5% |
| Return on equity | 13.3% | 11.6% |
| Diluted EPS | $7.99 | $1.83 |
| Dividend / share | $2.00 | · |
| Payout ratio | 24.6% | 46.6% |
| Free cash flow | $501.5M | · |
| Equity | $9.0B | $16.6B |
| Net debt / equity | 0.38× | −0.02× |
| Current ratio | 3.06× | 3.87× |
| Revenue CAGR 5y | 13.6% | 18.4% |
| Profit CAGR 5y | · | · |
STLD bills 1.5× the revenue of TS, and TS keeps more of each dollar of revenue as profit (16.5% 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 | STLD | TS |
|---|---|---|
| FY2025 | $18.2B | $12.0B |
| FY2024 | $17.5B | $12.5B |
| FY2023 | $18.8B | $14.9B |
| FY2022 | $22.3B | $11.8B |
| FY2021 | $18.4B | $6.5B |
| FY2020 | $9.6B | $5.1B |
| FY2019 | $10.5B | $7.3B |
| FY2018 | $11.8B | $7.7B |
| FY2017 | $9.5B | $5.3B |
| FY2016 | $7.8B | $4.3B |
Bottom line
| Fiscal year | STLD | TS |
|---|---|---|
| FY2025 | $1.2B | $1.9B |
| FY2024 | $1.5B | $2.0B |
| FY2023 | $2.5B | $3.9B |
| FY2022 | $3.9B | $2.6B |
| FY2021 | $3.2B | $1.1B |
| FY2020 | $570.8M | $-634.4M |
| FY2019 | $677.9M | $742.7M |
| FY2018 | $1.3B | $876.1M |
| FY2017 | $805.8M | $544.7M |
| FY2016 | $360.0M | $55.3M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$6,195,424,000 | STLD |
| FY2024 | +$5,016,456,000 | STLD |
| FY2023 | +$3,926,456,000 | STLD |
| FY2022 | +$10,498,248,000 | STLD |
| FY2021 | +$11,887,643,000 | STLD |
| FY2020 | +$4,454,748,000 | STLD |
| FY2019 | +$3,170,936,000 | STLD |
| FY2018 | +$4,163,251,000 | STLD |
| FY2017 | +$4,250,293,000 | STLD |
| FY2016 | +$3,483,517,000 | STLD |
| FY2015 | +$691,288,000 | STLD |
STLD has reported the higher revenue in every one of these 11 fiscal years. The gap has widened since the earliest year compared.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −9.9 pp | TS |
| FY2024 | −7.7 pp | TS |
| FY2023 | −13.5 pp | TS |
| FY2022 | −4.2 pp | TS |
| FY2021 | +1.5 pp | STLD |
| FY2020 | +18.4 pp | STLD |
| FY2019 | −3.5 pp | TS |
| FY2018 | −0.8 pp | TS |
| FY2017 | −1.7 pp | TS |
| FY2016 | +3.3 pp | STLD |
| FY2015 | −0.8 pp | TS |
The higher net margin has changed hands between STLD and TS over this period.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TS's net margin has been more volatile than STLD's over the 11 comparable fiscal years — 10.6 percentage points of standard deviation against 5.4.
11 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 STLD and TS over these 11 fiscal years — STLD led in 3 and TS in 8.
11 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 TS's over the 5 comparable fiscal years — 19.0 percentage points of standard deviation against 6.0.
5 of 15 comparable fiscal years — a year missing data on either side is not counted.
Year by year
STLD led in return on equity in every one of the 5 comparable fiscal years — a structural lead, not a recent swing.
5 of 15 comparable fiscal years — a year missing data on either side is not counted.