STLD vs TX: Steel Dynamics and Ternium SA ADR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Steel Dynamics is the larger company, worth $33.3B, about 3.1 times Ternium SA ADR.
- Steel Dynamics grew revenue faster over the last year (+33.4% vs -11.6%).
- Steel Dynamics keeps more of each dollar of revenue as operating profit (10.0% vs 4.5%).
- On earnings, Steel Dynamics is the cheaper stock (24.7x vs 264.5x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | STLD | TX |
|---|---|---|
| Market cap | $33.3B | $10.8B |
| Share price | $238.38 | $58.18 |
| Revenue (last fiscal year) | $18.2B | $15.6B |
| Free cash flow (last fiscal year) | $502M | -$345M |
| Revenue growth, last year | +33.4% | -11.6% |
| Revenue growth per year, last 5 fiscal years | -0.3% | -0.8% |
| Operating margin | 10.0% | 4.5% |
| Net margin | 7.8% | 2.7% |
| Return on equity | 17.1% | 3.6% |
| P/E (trailing) | 24.7x | 264.5x |
| Price / free cash flow | 66.3x | — |
| EV / EBITDA | 13.7x | 4.64x |
| FCF growth the price implies | 20.8% | — |
| Dividend yield | 0.87% | 4.0% |
| Debt / equity | 0.82x | 0.63x |
| Fundamental grade | B | D |
| Superinvestors holding it | 2 | 2 |
| Insider purchases, last 12 months | 1 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Steel Dynamics
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $18.4B | $1.2B | 23.4% |
| 2022 | $22.3B | $3.6B | 22.9% |
| 2023 | $18.8B | $1.9B | 16.8% |
| 2024 | $17.5B | -$24M | 11.1% |
| 2025 | $18.2B | $502M | 8.1% |
Ternium SA ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $16.1B | $2.2B | 32.8% |
| 2022 | $16.4B | $2.2B | 16.4% |
| 2023 | $17.6B | $1.3B | 12.5% |
| 2024 | $17.6B | $85M | 7.2% |
| 2025 | $15.6B | -$345M | 4.5% |
Where the revenue comes from
Steel Dynamics · by regions, 2025
U.S.$17.0B94%
Non-U.S.$1.2B6%
Ternium SA ADR · by segments, 2021
Steel$16.0B97%
Mining$526M3%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open STLD in InvestinglyQuestions
Which is bigger, Steel Dynamics or Ternium SA ADR?
Steel Dynamics (STLD), at $33.3B against $10.8B.
Is STLD or TX cheaper?
By trailing P/E, Steel Dynamics (24.7x) is cheaper than Ternium SA ADR (264.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, STLD or TX?
Steel Dynamics: revenue grew +33.4% over the last year, against -11.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.