STLD vs. BLD

Last updated Jun 13, 2026

STLD (Steel Dynamics, Inc.) and BLD (TopBuild Corp.) are both stocks. STLD operates in Steel (Basic Materials), while BLD operates in Engineering & Construction (Industrials). Over the past 10 years, STLD returned 29.92%/yr vs 27.86%/yr for BLD. At a 0.36 correlation, their price movements are largely independent.

Performance

STLD vs. BLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Steel Dynamics, Inc. (STLD) and TopBuild Corp. (BLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STLD achieves a 67.39% return, which is significantly higher than BLD's -1.46% return. Over the past 10 years, STLD has outperformed BLD with an annualized return of 29.92%, while BLD has yielded a comparatively lower 27.86% annualized return.

STLD

• 1D: 1.15%
• 1M: 23.29%
• YTD: 67.39%
• 6M: 65.42%
• 1Y: 114.70%
• 3Y*: 40.23%
• 5Y*: 36.27%
• 10Y*: 29.92%

BLD

• 1D: 0.30%
• 1M: 2.58%
• YTD: -1.46%
• 6M: -5.70%
• 1Y: 37.70%
• 3Y*: 19.98%
• 5Y*: 16.32%
• 10Y*: 27.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

STLD vs. BLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
STLD Steel Dynamics, Inc.	67.39%	50.70%	-1.99%	22.75%	60.14%	71.42%	12.46%	16.78%	-29.02%	23.34%
BLD TopBuild Corp.	-1.46%	34.00%	-16.81%	139.16%	-43.28%	49.89%	78.58%	129.07%	-40.59%	112.75%

Correlation

The correlation between STLD and BLD is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jul 1, 2015	0.36

Fundamentals

Market Cap STLD : $40.94B BLD : $11.56B
EPS STLD : $9.33 BLD : $17.76
PE Ratio STLD : 30.30 BLD : 23.15
PS Ratio STLD : 2.19 BLD : 2.07
PB Ratio STLD : 4.47 BLD : 4.81
Total Revenue (TTM) STLD : $19.01B BLD : $5.62B
Gross Profit (TTM) STLD : $2.66B BLD : $1.62B
EBITDA (TTM) STLD : $2.23B BLD : $933.40M

Return for Risk

STLD vs. BLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

STLD

STLD Risk / Return Rank: 95
STLD Sharpe Ratio Rank: 97
STLD Sortino Ratio Rank: 96
STLD Omega Ratio Rank: 94
STLD Calmar Ratio Rank: 94
STLD Martin Ratio Rank: 96

BLD

BLD Risk / Return Rank: 65
BLD Sharpe Ratio Rank: 67
BLD Sortino Ratio Rank: 69
BLD Omega Ratio Rank: 63
BLD Calmar Ratio Rank: 61
BLD Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

STLD vs. BLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Steel Dynamics, Inc. (STLD) and TopBuild Corp. (BLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	STLD	BLD	Difference
Sharpe ratio: Return per unit of total volatility	3.54	0.76	+2.78
Sortino ratio: Return per unit of downside risk	4.17	1.57	+2.60
Omega ratio: Gain probability vs. loss probability	1.50	1.17	+0.33
Calmar ratio: Return relative to maximum drawdown	5.81	0.85	+4.96
Martin ratio: Return relative to average drawdown	19.49	2.11	+17.38

STLD vs. BLD - Sharpe Ratio Comparison

The current STLD Sharpe Ratio is 3.54, which is higher than the BLD Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of STLD and BLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

STLD vs. BLD - Drawdown Comparison

The maximum STLD drawdown since its inception was -87.05%, which is greater than BLD's maximum drawdown of -52.26%. Use the drawdown chart below to compare losses from any high point for STLD and BLD.

Drawdown Indicators

	STLD	BLD	Difference
Max Drawdown Largest peak-to-trough decline	-87.05%	-52.26%	-34.79%
Max Drawdown (1Y) Largest decline over 1 year	-20.33%	-39.12%	+18.79%
Max Drawdown (3Y) Largest decline over 3 years	-28.66%	-42.41%	+13.75%
Max Drawdown (5Y) Largest decline over 5 years	-32.20%	-49.39%	+17.19%
Max Drawdown (10Y) Largest decline over 10 years	-68.46%	-52.26%	-16.20%
Current Drawdown Current decline from peak	0.00%	-25.38%	+25.38%
Average Drawdown Average peak-to-trough decline	-33.27%	-15.10%	-18.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.04%	15.68%	-9.64%

Volatility

STLD vs. BLD - Volatility Comparison

Steel Dynamics, Inc. (STLD) has a higher volatility of 9.70% compared to TopBuild Corp. (BLD) at 9.02%. This indicates that STLD's price experiences larger fluctuations and is considered to be riskier than BLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STLD	BLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.70%	9.02%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	24.96%	33.81%	-8.85%
Volatility (1Y) Calculated over the trailing 1-year period	33.38%	43.80%	-10.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.03%	41.43%	-3.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.31%	42.78%	-3.47%

Dividends

STLD vs. BLD - Dividend Comparison

STLD's dividend yield for the trailing twelve months is around 0.72%, while BLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLD TopBuild Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
STLD Steel Dynamics, Inc.	0.72%	1.18%	1.61%	1.44%	1.39%	1.68%	2.71%	2.82%	2.50%	1.44%	1.57%	3.08%

Financials

STLD vs. BLD - Profitability Comparison

The chart below illustrates the profitability comparison between Steel Dynamics, Inc. and TopBuild Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

STLD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a gross profit of 763.22M and revenue of 5.20B. Therefore, the gross margin over that period was 14.7%.

BLD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TopBuild Corp. reported a gross profit of 400.25M and revenue of 1.45B. Therefore, the gross margin over that period was 27.7%.

STLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported an operating income of 538.00M and revenue of 5.20B, resulting in an operating margin of 10.3%.

BLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TopBuild Corp. reported an operating income of 175.04M and revenue of 1.45B, resulting in an operating margin of 12.1%.

STLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a net income of 403.44M and revenue of 5.20B, resulting in a net margin of 7.8%.

BLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TopBuild Corp. reported a net income of 104.81M and revenue of 1.45B, resulting in a net margin of 7.3%.

Frequently Asked Questions

Can I hold both STLD and BLD in my portfolio?

STLD and BLD have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STLD or BLD?

STLD has higher volatility (9.70%) compared to BLD (9.02%). In terms of maximum drawdown, STLD dropped -87.05% vs BLD's -52.26%.

Which has better risk-adjusted returns?

STLD currently has the higher Sharpe Ratio (3.54 vs 0.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.