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.
Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Steel Dynamics's retained earnings for the quarter that ended in Mar. 2026 was MXN288,809 Mil.
Steel Dynamics's quarterly retained earnings
declined
from Sep. 2025 (MXN284,254 Mil) to Dec. 2025 (MXN282,492 Mil) but then
increased
from Dec. 2025 (MXN282,492 Mil) to Mar. 2026 (MXN288,809 Mil).
Steel Dynamics's annual retained earnings
increased
from Dec. 2023 (MXN229,926 Mil) to Dec. 2024 (MXN308,624 Mil) but then
declined
from Dec. 2024 (MXN308,624 Mil) to Dec. 2025 (MXN282,492 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Steel Dynamics Retained Earnings Historical Data
* Premium members only.
The historical data trend for Steel Dynamics's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of MXN288,809 Mil mean?
Steel Dynamics (MEX:STLD) has a Retained Earnings of MXN288,809 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Steel Dynamics and its competitors.
Is Steel Dynamics' Retained Earnings too high?
Steel Dynamics' current Retained Earnings is MXN288,809 Mil. 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' Retained Earnings compare to RS and NUE?
Steel Dynamics' Retained Earnings of MXN288,809 Mil can be compared against companies in the Steel industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Steel company?
A good Retained Earnings depends on the Steel industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Steel Dynamics and its competitors. Steel Dynamics's current Retained Earnings is MXN288,809 Mil. 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 Retained Earnings is MXN288,809 Mil. 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 Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Steel Dynamics (MEX:STLD), the current Retained Earnings is MXN288,809 Mil as of Mar. 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:
Retained Earnings: MXN288,809 Mil
GF Value™: MXN2,834.69 vs. price of MXN4,107.96 (44.9% above fair value)
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
Retained Earnings 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 
