Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Steel DynamicsMEX:STLD 75 Piotroski F-Score is 8 as of Jul. 21, 2026, which is 33% above its 10-year median of 6.00. GuruFocus rates MEX:STLD with a GF Score™ of 75/100 and a GF Value™ of MXN2,834.69 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 622 Steel companies, Steel Dynamics ranks better than 97.91% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Steel Dynamics has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Steel Dynamics's Piotroski F-Score or its related term are showing as below:
MEX:STLD'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 9
Current: 8
During the past 13 years, the highest Piotroski F-Score of Steel Dynamics was 9. The lowest was 4. And the median was 6.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Steel Dynamics Piotroski F-Score Related Terms
Steel Dynamics Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Steel Dynamics's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:STLD vs RS, NUE, TX: Piotroski F-Score Comparison
For the Steel subindustry, Steel Dynamics's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Steel Dynamics Piotroski F-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Steel Dynamics's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Steel Dynamics's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 5624.772 + 7405.278 + 4790.11 + 7275.04 = MXN25,095 Mil. Cash Flow from Operations was 5679.094 + 13255.666 + 4910.37 + 2674.538 = MXN26,520 Mil. Revenue was 85957.614 + 88569.742 + 79478.024 + 93857.643 = MXN347,863 Mil. Gross Profit was 11645.258 + 13902.702 + 9530.255 + 13762.971 = MXN48,841 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(325907.882 + 292768.415 + 292865.703 + 295649.633 + 301510.693) / 5 = MXN301740.4652 Mil. Total Assets at the begining of this year (Mar25) was MXN325,908 Mil. Long-Term Debt & Capital Lease Obligation was MXN75,353 Mil. Total Current Assets was MXN122,535 Mil. Total Current Liabilities was MXN39,144 Mil.
Net Income was 7840.967 + 6257.617 + 4323.241 + 4442.519 = MXN22,864 Mil.
Revenue was 84870.332 + 85487.702 + 80756.148 + 89385.865 = MXN340,500 Mil. Gross Profit was 14195.094 + 11916.904 + 9212.672 + 9953.814 = MXN45,278 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(249387.775 + 275923.78 + 308346.574 + 311484.739 + 325907.882) / 5 = MXN294210.15 Mil. Total Assets at the begining of last year (Mar24) was MXN249,388 Mil. Long-Term Debt & Capital Lease Obligation was MXN77,273 Mil. Total Current Assets was MXN127,183 Mil. Total Current Liabilities was MXN46,368 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Steel Dynamics's current Net Income (TTM) was 25,095.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Steel Dynamics's return on assets of this year was 0.0770009. Steel Dynamics's return on assets of last year was 0.0916819.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Steel Dynamics's gearing of this year was 0.24972681. Steel Dynamics's gearing of last year was 0.26264669.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Steel Dynamics's current ratio of this year was 3.1303775. Steel Dynamics's current ratio of last year was 2.74291648.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Steel Dynamics's number of shares in issue this year was 145.321. Steel Dynamics's number of shares in issue last year was 150.809.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Steel Dynamics's gross margin of this year was 0.1404035. Steel Dynamics's gross margin of last year was 0.13297644.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Steel Dynamics's asset turnover of this year was 1.06736609. Steel Dynamics's asset turnover of last year was 1.36534378.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
0
+
1
+
1
+
1
+
1
+
1
+
0
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Steel Dynamics has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Steel Dynamics (MEX:STLD) has a Piotroski F-Score of 8 as of Jul. 21, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Steel Dynamics and its competitors. This is 33% above median its historical median of 6.00. Over the past decade, Steel Dynamics' Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Steel Dynamics ranks #13 out of 622 companies in the Steel industry, placing it in the top 2.1%.
Is Steel Dynamics' Piotroski F-Score too high?
Steel Dynamics' current Piotroski F-Score of 8 is 33% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Steel industry median Piotroski F-Score is 5.00. Steel Dynamics' value of 8 is 60% above this industry median. Based on the distribution chart, Steel Dynamics ranks #13 out of 622 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Steel Dynamics has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Steel Dynamics' Piotroski F-Score compare to RS and NUE?
According to the Steel industry distribution chart, Steel Dynamics ranks #13 out of 622 companies for Piotroski F-Score. This places Steel Dynamics in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Steel Dynamics' value of 8 is 60% above this benchmark. Historically, Steel Dynamics' own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Steel Dynamics has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Steel company?
The median Piotroski F-Score among Steel companies is 5.00, based on 622 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steel Dynamics's current Piotroski F-Score of 8 is 60% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Steel Dynamics and its competitors. For the Steel industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steel Dynamics's current Piotroski F-Score is 8, which is 33% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steel Dynamics stock overvalued right now?
Based on GuruFocus' analysis, Steel Dynamics (MEX:STLD) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN2,834.69, compared to a current price of MXN4,107.96 — trading 44.9% above its estimated fair value. The current Piotroski F-Score is 8, which is 33% above median its 10-year median of 6.00 and 60% above the Steel industry median of 5.00. Steel Dynamics' overall GF Score™ is 75/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Steel Dynamics (MEX:STLD), the current Piotroski F-Score is 8 as of Jul. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Steel Dynamics (MEX:STLD) Overvalued in 2026?
Based on GuruFocus' analysis, Steel Dynamics stock appears to be overvalued.
The current stock price of MXN4,107.96 is trading 44.9% above its estimated GF Value™ of MXN2,834.69.
GuruFocus considers Steel Dynamics to be Significantly Overvalued.
Key valuation signals for MEX:STLD:
Piotroski F-Score: 8 (33% above median its 10-year median of 6.00)
GF Value™: MXN2,834.69 vs. price of MXN4,107.96 (44.9% above fair value)
Industry Position: 60% above the Steel median (#13 of 622)
No single metric tells the full story. See the MEX:STLD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steel Dynamics Inc operates as a domestic steel producer and metal recycler in the United States. The company's product portfolio comprises hot rolled sheet, hot rolled plate, painted sheet products, cold rolled sheet, and others. Its reportable segments are steel operations, metals recycling operations, steel fabrication operations, and aluminum operations. Maximum revenue is generated from its steel operations segment, which consists of manufacturing various steel products and numerous coating operations. Its primary sources of revenue are currently from the manufacture and sale of steel products, the processing and sale of recycled ferrous and nonferrous metals, and the fabrication and sale of steel joists and deck products.
75GF Score
Get the complete analysis for MEX:STLD
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:STLD has been successfully added to your 
