Steel Dynamics authorizes $3B for stock buybacks

How big is it?

Steel Dynamics bought back $831M of stock in the twelve months to Sep 30, 2026. At that pace, $3.0B covers about 3.6 years of buybacks.

The amount equals 274% of its free cash flow over the same twelve months ($1.1B).

Its diluted share count is down 2.7% from a year earlier.

An authorization is permission, not a promise: the company can buy less, more slowly, or not at all, and usually doesn't have to say when it buys.

Full Steel Dynamics buyback record →