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Steel Dynamics vs Titan International: revenue, profit, margins and growth compared

Steel Dynamics brought in $18.2B of revenue in fiscal 2025, Titan International $1.8B in fiscal 2025. Revenue changed by +3.6% at Steel Dynamics and -0.9% at Titan International on the year before, so Steel Dynamics grew faster. Steel Dynamics kept 6.5% of its revenue as net profit, Titan International -3.5%. Free cash flow was $501.5M at Steel Dynamics and -$24.6M at Titan International.

Side by side, latest fiscal year

STLDTWI
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$18.2B$1.8B
Revenue growth+3.6%-0.9%
Net income$1.2B-$63.5M
Net margin6.5%-3.5%
Free cash flow$501.5M-$24.6M
Free cash flow margin2.8%-1.3%
Earnings per share (diluted)$7.99-$1.00
Cash$769.9M$202.9M
Debt$4.2B$587.9M
Price to earnings29.2n/a
Market value$33.5B$456.3M
Dividend yield0.86%n/a
Rank by revenue in sector#33 of 451 · Industrials#227 of 451 · Industrials

Over the years

Revenue
STLD FY2018: $11.8BSTLD FY2019: $10.5BSTLD FY2020: $9.6BSTLD FY2021: $18.4BSTLD FY2022: $22.3BSTLD FY2023: $18.8BSTLD FY2024: $17.5BSTLD FY2025: $18.2BTWI FY2018: $1.6BTWI FY2019: $1.4BTWI FY2020: $1.3BTWI FY2021: $1.8BTWI FY2022: $2.2BTWI FY2023: $1.8BTWI FY2024: $1.8BTWI FY2025: $1.8BFY18FY19FY20FY21FY22FY23FY24FY25
STLD $18.2BTWI $1.8B
Net income
STLD FY2018: $1.3BSTLD FY2019: $671.1MSTLD FY2020: $550.8MSTLD FY2021: $3.2BSTLD FY2022: $3.9BSTLD FY2023: $2.5BSTLD FY2024: $1.5BSTLD FY2025: $1.2BTWI FY2018: $16.1MTWI FY2019: -$48.4MTWI FY2020: -$60.4MTWI FY2021: $49.6MTWI FY2022: $176.3MTWI FY2023: $78.8MTWI FY2024: -$5.6MTWI FY2025: -$63.5MFY18FY19FY20FY21FY22FY23FY24FY25
STLD $1.2BTWI -$63.5M
Net margin
STLD FY2018: 10.6%STLD FY2019: 6.4%STLD FY2020: 5.7%STLD FY2021: 17.5%STLD FY2022: 17.4%STLD FY2023: 13.0%STLD FY2024: 8.8%STLD FY2025: 6.5%TWI FY2018: 1.0%TWI FY2019: -3.3%TWI FY2020: -4.8%TWI FY2021: 2.8%TWI FY2022: 8.1%TWI FY2023: 4.3%TWI FY2024: -0.3%TWI FY2025: -3.5%FY18FY19FY20FY21FY22FY23FY24FY25
STLD 6.5%TWI -3.5%
Revenue growth
STLD FY2019: -11.5%STLD FY2020: -8.3%STLD FY2021: +91.7%STLD FY2022: +20.9%STLD FY2023: -15.6%STLD FY2024: -6.7%STLD FY2025: +3.6%TWI FY2019: -9.6%TWI FY2020: -13.1%TWI FY2021: +41.4%TWI FY2022: +21.9%TWI FY2023: -16.0%TWI FY2024: +1.3%TWI FY2025: -0.9%FY19FY20FY21FY22FY23FY24FY25
STLD +3.6%TWI -0.9%
Free cash flow
STLD FY2018: $1.2BSTLD FY2019: $944.3MSTLD FY2020: -$211MSTLD FY2021: $1.2BSTLD FY2022: $3.6BSTLD FY2023: $1.9BSTLD FY2024: -$23.5MSTLD FY2025: $501.5MTWI FY2018: -$75.2MTWI FY2019: $9MTWI FY2020: $35.5MTWI FY2021: -$28.1MTWI FY2022: $113.7MTWI FY2023: $118.6MTWI FY2024: $75.9MTWI FY2025: -$24.6MFY18FY19FY20FY21FY22FY23FY24FY25
STLD $501.5MTWI -$24.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Steel Dynamics and Titan International

Which is bigger by revenue, Steel Dynamics or Titan International?

Steel Dynamics is bigger by revenue: $18.2B in fiscal 2025, against $1.8B for Titan International in fiscal 2025.

Which keeps more of its revenue as profit, Steel Dynamics or Titan International?

Steel Dynamics had a net margin of 6.5% in fiscal 2025; Titan International had -3.5% in fiscal 2025.

Which grew revenue faster, Steel Dynamics or Titan International?

In their latest fiscal years revenue changed by +3.6% at Steel Dynamics and -0.9% at Titan International.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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