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Gerdau S.A.

GGB Basic Materials Steel

Gerdau S.A.’s revenue for fiscal 2025 (year ended December 2025) was $12.5 billion, up 0.68% from fiscal 2024. In the quarter to June 2026, revenue grew 14.3%, EPS grew 87.5%, free cash flow grew 172.0% and total debt fell 4.72%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

5.02 0.03 −0.59%
Market cap
$6.3B
P/E
21.8×
Fwd P/E
—
Dividend yield
2.99%
F-score
5/9
Altman Z
2.56
Beneish M
−2.86
Dividend safety
16/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.78
Total sells 5.86
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — 1 — — — —
Sell — — — — 1 10 7 3 — 2 2 —
Insider Ownership 36.94%

Capital & Financial Ratios $m

Market Cap 6,260.00
Revenue 13,163.30
Net Income 458.38
Free Cash Flow 650.56
Net Debt 1,714.65
Current Ratio 2.87 (at or above 1.5: strong)
Debt/Equity 0.26 (at or below 0.5: strong)
P/E ratio 21.83
Fwd P/E —
P/S ratio 0.75
P/B ratio 0.93
Past 5Y EPS Growth (10.95%) (below 0%: weak)
This Y EPS Growth 302.58% (at or above 15%: strong)
Next Y EPS Growth 8.41%
Next Y revenue growth —
Next 5Y EPS Growth 60.58% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.9×, against a ten-year median of 0.8×; over the ten years it ranged from 0.5× in 2022 to 1.3× in 2021.
P/E against its own 10 years 81.65%
10-year low 10-year high
P/S against its own 10 years 88.28%
10-year low 10-year high
P/B against its own 10 years 60.63%
10-year low 10-year high
EV/Sales against its own 10 years 76.52%
10-year low 10-year high
EV/FCF against its own 10 years 78.88%
10-year low 10-year high

Dividends

Payout Ratio 0.65
Annual Dividend Rate 0.15
Annual Dividend Yield 2.99%
total individual payouts
2026 0.10
0.02
0.03
0.04
2025 0.11
0.02
0.02
0.02
0.05
2024 0.14
0.02
0.05
0.02
0.05
2023 0.19
0.03
0.08
0.07
0.08
2022 0.24
0.03
0.09
0.11
0.06
2021 0.21
0.02
0.06
0.08
0.05
0.03
2020 0.05
0.00
0.02
0.02
2019 0.06
0.02
0.01
0.01
0.01
2018 0.06
0.01
0.02
0.03
0.03
2017 0.01
0.01
0.01
2016 0.01
0.01
0.00
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,070 1,535 1,142 1,077
Receivables 1,377 1,343 1,215 1,439
Inventory 3,050 3,060 2,638 3,186
Other 351 119 128 124
5,848 6,057 5,123 5,826
2023 2024 2025 Q'26
Payables 1,182 1,060 897 1,223
ST’ Debt 3 7 8 8
Other 271 425 348 323
2,260 2,012 1,771 2,030

Compound Annual Growth %

10y 5y 3y
Sales (0.61%) 8.04% (7.80%)
Cash Flow (4.15%) 2.85% (12.83%)
Earnings 0.00% (11.55%) (51.76%)
Book Value (0.13%) 9.83% 2.42%

Revenue $m

Mar Jun Sep Dec Year
’26 3,174 3,537 — — —
’25 2,966 3,093 3,302 3,151 12,512
’24 3,273 3,184 3,133 2,837 12,427
’23 3,633 3,690 3,495 2,987 13,804
’22 3,891 4,667 4,035 3,370 15,963
’21 2,991 3,612 4,080 3,835 14,517
’20 2,085 1,631 2,275 2,510 8,500
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 287 316 — — —
’25 154 184 551 542 1,431
’24 168 362 1,019 560 2,110
’23 378 668 495 690 2,231
’22 444 811 543 361 2,160
’21 287 113 499 1,421 2,319
’20 262 (15) 462 534 1,243
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 59 89 — — —
’25 (163) (124) 208 295 216
’24 247 124 726 200 1,297
’23 190 405 178 397 1,170
’22 326 606 351 18 1,301
’21 201 (3) 337 1,208 1,743
’20 148 (47) 398 406 905
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.10 0.15 — — —
’25 0.06 0.08 0.10 (0.12) 0.12
’24 0.20 0.08 0.12 0.03 0.40
’23 0.29 0.20 0.15 0.06 0.71
’22 0.26 0.40 0.27 0.12 1.05
’21 0.21 0.34 0.49 0.29 1.33
’20 0.02 0.02 0.07 0.09 0.21
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 0.63 2.06 2.67 2.17 1.31 3.30 3.13 3.50 2.86 2.27

Analyst estimates 2026–2028

Powerpack
High 3.42 3.48 4.22 3.94 4.24 5.77 5.25 5.29 4.08 3.80
People
People Employees 30,014 28,612 24,542 24,787 24,613 27,739 28,197 27,371 25,557 25,817
Revenue/emp, $m 0.36 0.40 0.51 0.41 0.35 0.52 0.57 0.50 0.49 0.48
Income, $m
Income, $m Revenue 10,795 11,563 12,629 10,046 8,500 14,517 15,963 13,804 12,427 12,512
Gross margin, % 9.20 9.76 13.32 10.60 13.54 26.57 22.75 16.44 13.73 11.41
EBT (740) (14) 590 424 678 3,757 3,072 1,872 1,013 452
EBT margin, % (6.86) (0.12) 4.67 4.22 7.98 25.88 19.24 13.56 8.15 3.61
Net income (827) (106) 636 308 463 2,883 2,224 1,510 853 254
Depreciation 727 655 518 526 485 493 555 610 580 660
Per share, $
Per share, $ Revenue 5.03 5.37 5.89 4.70 3.97 6.76 7.60 6.58 5.95 6.24
Earnings (0.35) (0.06) 0.29 0.13 0.21 1.33 1.05 0.72 0.40 0.12
Cash flow 0.47 0.30 0.26 0.19 0.58 1.08 1.03 1.06 1.01 0.71
Capex (0.14) (0.05) 0.35 (0.22) (0.16) (0.27) (0.41) (0.51) (0.39) (0.61)
Free cash flow 0.33 0.25 0.61 (0.02) 0.42 0.81 0.62 0.56 0.62 0.11
Book value 3.24 3.48 3.31 3.22 2.81 3.69 4.27 4.70 5.16 4.81
Shares, m 2,148 2,153 2,144 2,139 2,143 2,148 2,099 2,099 2,090 2,004
Valuation, ×
Valuation, × P/E 0.00 0.00 10.15 27.24 18.20 2.91 4.09 5.65 6.94 30.75
P/S 0.53 0.58 0.51 0.83 0.94 0.58 0.57 0.61 0.48 0.59
P/B 0.82 0.90 0.90 1.21 1.32 1.06 1.01 0.85 0.56 0.77
EV/Sales 0.80 0.89 0.76 1.05 1.14 0.67 0.63 0.68 0.57 0.70
EV/FCF 12.32 19.05 7.34 36.35 10.73 5.62 7.78 7.97 5.43 40.85
Cash, $m
Cash, $m Operating cash flow 1,008 650 547 416 1,243 2,319 2,160 2,231 2,110 1,431
Capex (307) (112) 755 (462) (338) (576) (859) (1,061) (813) (1,215)
Free cash flow 702 538 1,302 (46) 905 1,743 1,301 1,170 1,297 216
Balance, $m
Balance, $m Working capital 2,631 3,216 2,462 2,740 2,314 3,447 3,447 3,588 4,045 3,352
Total debt 5,995 5,148 4,078 3,828 3,243 2,677 2,105 2,006 2,557 2,559
Net debt 4,249 4,091 3,162 2,233 1,757 1,420 1,053 936 1,022 1,417
Shareholders’ equity 6,960 7,484 7,097 6,886 6,031 7,934 8,968 9,863 10,785 9,635
Returns, %
Returns, % ROA (4.47) (0.72) 4.23 2.20 3.54 22.15 15.82 10.26 5.45 1.62
ROIC (2.60) 1.92 6.75 5.53 8.09 26.03 21.45 12.12 7.35 3.79
ROE (9.84) (1.56) 8.65 4.36 7.11 41.12 26.19 15.96 8.20 2.43
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Gerdau S.A. vs peers in Steel (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RS Reliance, Inc. $20.8B 23.8× 20.2× +26.51% (above 0%: growing) +42.57% (above 0%: growing) −45.43% (below 0%: shrinking) 28.09% 9.54% Compare
PKX POSCO Holdings Inc. $16.7B 20.8× — +9.70% (above 0%: growing) +271.43% (above 0%: growing) −156.79% (below 0%: shrinking) 8.62% 4.25% Compare
TX Ternium S.A. $11.2B 16.0× 9.2× +9.97% (above 0%: growing) +59.09% (above 0%: growing) −174.72% (below 0%: shrinking) 21.68% 12.17% Compare
CLF Cleveland-Cliffs Inc. $6.9B — (loss-making) — (loss-making) +5.92% (above 0%: growing) n/m +208.96% (above 0%: growing) 2.53% (0.94%) Compare
GGB Gerdau S.A. $6.3B 21.8× — +14.33% (above 0%: growing) +87.50% (above 0%: growing) +171.99% (above 0%: growing) 15.83% 13.05%
SIM Grupo Simec, S.A. de C.V. $4.6B 23.3× 28.5× +29.60% (above 0%: growing) n/m +51.13% (above 0%: growing) 24.99% 15.91% Compare
WS Worthington Steel, Inc. $2.0B — (loss-making) 14.3× +212.36% (above 0%: growing) n/m −42.57% (below 0%: shrinking) 9.58% 2.05% Compare
SID National Steel Company $1.5B — (loss-making) 199× +18.55% (above 0%: growing) n/m +8.38% (above 0%: growing) 25.92% 5.54% Compare
MTL Mechel PAO $1.2B 0.8× 10.3× +70.05% (above 0%: growing) n/m +467.53% (above 0%: growing) 44.33% 0.00% Compare
Median of peers $5.8B 20.8× 17.3× +22.53% +59.09% −17.10% 23.34% 4.90%

All 21 Steel stocks →

Gerdau S.A. (GGB) key facts

  • Strength: Gerdau S.A.’s revenue for fiscal 2025 (year ended December 2025) was $12.5 billion, up 0.68% from fiscal 2024.
  • Gerdau S.A. (GGB) is a Steel company in the Basic Materials sector, traded in the US as an ADR.
  • As of October 16, 2026, GGB traded at $5.02, a market capitalization of $6.3 billion.
  • Gerdau S.A. pays an annual dividend of $0.15 per share, a yield of 2.99%, with a payout ratio of 65.4%.
  • Return on equity was 2.43% and debt-to-equity 0.26.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.56 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Gerdau S.A. (GGB) Latest News

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stockrow.com/GGB · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com