Steel DynamicsSTLD -0.62%91 PB Ratio is 3.47 as of Jul. 05, 2026, which is 57% above its 10-year median of 2.21. GuruFocus rates STLD with a GF Score™ of 91/100 and a GF Value™ of $157.34 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 609 Steel companies, Steel Dynamics ranks worse than 89.66% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-05), Steel Dynamics's share price is $220.26. Steel Dynamics's Book Value per Share for the quarter that ended in Mar. 2026 was $63.45. Hence, Steel Dynamics's PB Ratio of today is 3.47.
The historical rank and industry rank for Steel Dynamics's PB Ratio or its related term are showing as below:
STLD'
s PB Ratio Range Over the Past 10 Years
Min: 0.99 Med: 2.21 Max: 4.46
Current: 3.47
During the past 13 years, Steel Dynamics's highest PB Ratio was 4.46. The lowest was 0.99. And the median was 2.21.
STLD's PB Ratio is ranked worse than 89.66% of 609
companies
in the Steel industry
Industry Median: 0.96
vs STLD: 3.47
During the past 12 months, Steel Dynamics's average Book Value Per Share Growth Rate was 7.40% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 9.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 23.80% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 21.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Steel Dynamics was 75.70% per year. The lowest was 0.20% per year. And the median was 13.30% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Steel Dynamics PB Ratio Related Terms
Steel Dynamics PB Ratio Historical Data
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The historical data trend for Steel Dynamics's PB Ratio 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.
For the Steel subindustry, Steel Dynamics's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Steel Industry
For the Steel industry and Basic Materials sector, Steel Dynamics's PB Ratio distribution charts can be found below:
* The bar in red indicates where Steel Dynamics's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Steel Dynamics's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Steel Dynamics (STLD) has a PB Ratio of 3.47 as of Jul. 05, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Steel Dynamics and its competitors. This is 57% above median its historical median of 2.21. Over the past decade, Steel Dynamics' PB Ratio has ranged from 0.99 to 4.46. According to the industry distribution chart, Steel Dynamics ranks #546 out of 609 companies in the Steel industry, placing it in the top 89.7%.
Is Steel Dynamics' PB Ratio too high?
Steel Dynamics' current PB Ratio of 3.47 is 57% above median its 10-year median of 2.21. Over the past 10 years, this metric has ranged from a low of 0.99 to a high of 4.46. The Steel industry median PB Ratio is 0.96. Steel Dynamics' value of 3.47 is 261.5% above this industry median. Based on the distribution chart, Steel Dynamics ranks #546 out of 609 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Steel Dynamics has a GF Score™ of 91/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Steel Dynamics' PB Ratio compare to RS and NUE?
According to the Steel industry distribution chart, Steel Dynamics ranks #546 out of 609 companies for PB Ratio. This places Steel Dynamics in the lower half of its industry. The industry median PB Ratio is 0.96. Steel Dynamics' value of 3.47 is 261.5% above this benchmark. Historically, Steel Dynamics' own PB Ratio has ranged from 0.99 to 4.46 over the past decade. While the company's 10-year median is 2.21 vs. the industry median of 0.96, 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 PB Ratio for a Steel company?
The median PB Ratio among Steel companies is 0.96, based on 609 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steel Dynamics's current PB Ratio of 3.47 is 261.5% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Steel Dynamics and its competitors. For the Steel industry, the median PB Ratio is 0.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steel Dynamics's current PB Ratio is 3.47, which is 57% above median its own 10-year median of 2.21. 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 (STLD) is currently considered Significantly Overvalued. The stock's GF Value™ is $157.34, compared to a current price of $220.26 — trading 40% above its estimated fair value. The current PB Ratio is 3.47, which is 57% above median its 10-year median of 2.21 and 261.5% above the Steel industry median of 0.96. Steel Dynamics' overall GF Score™ is 91/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Steel Dynamics (STLD), the current PB Ratio is 3.47 as of Jul. 05, 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 (STLD) Overvalued in 2026?
Based on GuruFocus' analysis, Steel Dynamics stock appears to be overvalued.
The current stock price of $220.26 is trading 40% above its estimated GF Value™ of $157.34.
GuruFocus considers Steel Dynamics to be Significantly Overvalued.
Key valuation signals for STLD:
PB Ratio: 3.47 (57% above median its 10-year median of 2.21)
GF Value™: $157.34 vs. price of $220.26 (40% above fair value)
Industry Position: 261.5% above the Steel median (#546 of 609)
No single metric tells the full story. See the 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.
91GF Score
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