Nucor Corp (NUE) is overvalued and Steel Dynamics Inc (STLD) is overvalued.
Both trade above our estimate of their intrinsic value. NUE is the closer of the two: -84%, against -129% for STLD.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 12.1% (average of 3 methods) values the shares at $133.22; the price of $245.66 is 84% above that value, and 66% of that value comes from beyond year five.
Leak Score 41/100 on 9 of 12 signals
Discounting its cash flows at 11.0% (average of 3 methods) values the shares at $102.14; the price of $233.99 is 129% above that value, and 69% of that value comes from beyond year five.
Leak Score 45/100 on 10 of 12 signals
| Metric | NUE | STLD |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $245.66 | $233.99 |
| Intrinsic value | $133.22 | $102.14 |
| Margin of safety | -84% | -129% |
| Leak Score | 41/100 (9/12) | 45/100 (10/12) |
| Market cap | $55.7B | $33.5B |
| Revenue growth, 5 years | 10.0% | 13.6% |
| Operating margin | 11.5% | 10.0% |
| Net margin | 8.0% | 7.8% |
| Return on equity | 13.5% | 17.6% |
| Debt to equity | 0.32 | 0.44 |
| P/E | 19.6x | 21.2x |
| Forward P/E | 12.6x | 11.7x |
| P/B | 2.5x | 3.6x |
| Dividend yield | 0.9% | 0.9% |