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National Steel Company

SID Basic Materials Steel

National Steel Company’s revenue for fiscal 2025 (year ended December 2025) was $8.0 billion, down 0.94% from fiscal 2024.

Revenue
+18.6%
EPS
−500.0%
Free cash flow
+8.38%
Total debt
+16.0%

Quarter to June 2026, against a year earlier

0.78 0.00 0.00%
Market cap
$1.0B
P/E
0.0×
Fwd P/E
199×
Dividend yield
0.00%
F-score
5/9
Altman Z
0.69
Beneish M
−2.60
Dividend safety
2/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 1,030.00
Revenue ttm 8,525.16
Net income ttm (394.10)
Free cash flow ttm (1,184.95)
Net debt Q 7,733.89
Valuation
P/E 0.00
Forward P/E 199.00 (above 35: high)
Price / sales 0.12
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.34
Financial health
Current ratio Q 1.15
Debt / equity Q 3.50 (above 2: weak)
Interest coverage Q 0.38
Growth
Revenue growth Q +18.55% (above 0%: growing)
Operating income growth Q −52.38% (below 0%: shrinking)
EPS, this year −44.18% (below 0%: weak)
EPS, next year A +57.30% (at or above 15%: strong)
Revenue, next year A −64.67% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +40.73% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.0×, against a ten-year median of 1.2×; over the ten years it ranged from 0.4× in 2021 to 3.0× in 2016.
P/S against its own 10 years 0.23%
10-year low 10-year high
P/B against its own 10 years 0.23%
10-year low 10-year high
EV/Sales against its own 10 years 23.18%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
—
Growth, 2018–24
−9.08%/yr
  1. 0.16 ’18
  2. 0.23 ’19 +44
  3. 0.00 ’20 −99
  4. 0.37 ’21 +21471
  5. 0.10 ’22 −72
  6. 0.09 ’24 −12
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3,521 4,491 2,698 2,827
Receivables 1,004 791 676 935
Inventory 1,914 1,936 1,873 1,854
Other 186 159 186 269
6,625 7,376 5,432 5,885
2023 2024 2025 Q'26
Payables 2,393 1,842 1,803 1,752
ST’ Debt 1,525 1,636 1,868 1,648
Other 23 36 75 1,098
5,011 4,657 5,028 5,135

Compound Annual Growth %

10y 5y 3y
Sales 5.54% 6.59% (2.26%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.55% 5.24% (12.63%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.00 Actual −0.12

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.10 0.01 Miss by 0.09
Dec 2025 0.14 −0.15 Miss by 0.29
Mar 2026 0.23 −0.08 Miss by 0.31
Jun 2026 0.00 −0.12 Miss by 0.12
Sep 2026 −0.04 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.08) (0.12) — — —
’25 (0.08) (0.02) 0.01 (0.15) (0.27)
’24 (0.09) (0.08) (0.11) (0.11) (0.36)
’23 (0.13) 0.04 0.01 0.13 0.06
’22 0.17 0.06 0.03 0.03 0.23
’21 0.70 0.75 0.16 0.14 1.65
’20 (0.21) 0.05 0.17 0.52 0.53
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,014 2,237 — — —
’25 1,862 1,887 2,165 2,109 8,023
’24 1,961 2,085 1,995 2,058 8,100
’23 2,179 2,220 2,278 2,424 9,101
’22 2,253 2,147 2,079 2,114 8,593
’21 2,180 2,906 1,961 1,831 8,878
’20 1,205 1,160 1,622 1,845 5,832
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (147) 15 — — —
’25 (197) (50) 62 11 (174)
’24 (124) 556 488 684 1,604
’23 107 230 818 306 1,461
’22 (808) (200) 591 396 396
’21 632 964 2,575 166 2,741
’20 105 174 394 1,184 1,858
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (361) (267) — — —
’25 (389) (292) (219) (338) (1,237)
’24 (283) 457 126 285 585
’23 (35) 38 569 6 578
’22 (808) (513) 591 (254) (254)
’21 564 964 2,212 (1) 2,210
’20 26 186 388 858 1,531
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 4,917 5,802 6,284 6,446 5,832 8,878 8,593 9,101 8,100 8,023 8,525 +5.6% — — — —
Gross margin, % 26.29 26.60 29.88 32.13 36.39 46.07 30.00 26.33 26.77 27.67 27.75 +1.4 pt
EBT (165) 163 1,491 357 954 3,446 799 207 (286) (301) (497) +6.9%
EBT margin, % (3.36) 2.81 23.73 5.55 16.36 38.81 9.30 2.28 (3.53) (3.75) (5.83) (0.4) pt
Net income (245) 35 1,423 569 833 2,519 420 81 (285) (270) (394) +1.1%
Per share, $
Per share, $ Revenue 3.62 4.28 4.58 4.67 4.23 6.45 6.48 6.86 6.11 6.05 6.43 +5.9%
Earnings (0.20) 0.00 0.95 0.33 0.53 1.65 0.23 0.06 (0.36) (0.27) (0.34) +3.6%
Cash flow 0.06 0.13 0.44 0.89 1.35 1.99 0.30 1.10 1.21 (0.13) (0.05) n/m
Capex (0.34) (0.24) (0.26) (0.41) (0.24) (0.39) (0.49) (0.67) (0.77) (0.80) (0.85) +9.8%
Free cash flow (0.29) (0.11) 0.18 0.49 1.11 1.61 (0.19) 0.44 0.44 (0.93) (0.89) +14.0%
Book value 1.56 1.91 2.00 2.09 1.58 3.15 3.18 2.97 2.16 2.13 2.27 +3.5%
Shares, m 1,357 1,357 1,373 1,380 1,380 1,376 1,327 1,326 1,326 1,326 1,326 (0.3%)
Valuation, ×
Valuation, × P/E 0.00 103.50 2.15 9.16 11.23 2.54 9.28 77.80 0.00 0.00 0.00 21.6
P/S 0.98 0.62 0.48 0.74 1.41 0.67 0.42 0.57 0.24 0.26 0.12 0.6
P/B 2.27 1.39 1.10 1.65 3.76 1.38 0.84 1.31 0.67 0.75 0.34 1.5
EV/Sales 2.42 1.99 1.60 1.69 2.12 0.95 1.03 1.17 0.98 1.11 1.03 1.5
EV/FCF (30.73) (75.65) 41.30 16.20 12.66 2.52 (5.60) 21.10 15.60 (6.79) (6.96) (0.9)
Cash, $m
Cash, $m Operating cash flow 79 179 604 1,235 1,858 2,741 396 1,461 1,604 (174) (60) n/m
Capex (468) (332) (361) (562) (327) (531) (649) (883) (1,019) (1,063) (1,125) +9.5%
Free cash flow (389) (153) 243 673 1,531 2,210 (254) 578 585 (1,237) (1,185) +13.7%
Balance, $m
Balance, $m Working capital 1,992 379 158 280 1,680 1,933 1,576 1,615 2,720 404 750 (16.2%)
Net debt 7,113 7,944 7,027 6,144 4,179 2,449 5,321 5,464 6,061 6,781 7,734 (0.5%)
Shareholders’ equity 2,117 2,596 2,740 2,879 2,183 4,331 4,226 3,943 2,866 2,818 3,016 +3.2%
Returns, %
Returns, % ROA (1.95) 0.02 10.24 3.51 5.86 16.87 1.93 (0.37) (2.56) (1.92) (2.54) 0.0 pt
ROIC 3.65 5.34 11.92 6.00 10.75 34.77 9.39 6.44 4.96 5.01 3.18 +1.4 pt
ROE (11.20) 0.14 52.04 16.14 29.08 69.74 7.04 (1.56) (14.11) (12.62) (15.97) (1.4) pt
People
People Employees — 25,189 24,857 24,869 24,857 24,660 26,766 29,563 29,695 29,664 — +2.1%
Revenue/emp, $m 0.00 0.23 0.25 0.26 0.23 0.36 0.32 0.31 0.27 0.27 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

National Steel Company 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
CLF Cleveland-Cliffs Inc. $6.4B — (loss-making) 216× +18.55% (above 0%: growing) n/m +124.00% (above 0%: growing) 8.29% 5.54% Compare
GGB Gerdau S.A. $5.5B 19.2× — +14.33% (above 0%: growing) +87.50% (above 0%: growing) +171.99% (above 0%: growing) 15.83% 13.05% Compare
SIM Grupo Simec, S.A. de C.V. $4.3B 20.7× 28.5× +17.46% (above 0%: growing) +38.87% (above 0%: growing) +96.72% (above 0%: growing) 24.99% 15.91% Compare
WS Worthington Steel, Inc. $1.8B — (loss-making) 8.7× +212.36% (above 0%: growing) n/m −42.57% (below 0%: shrinking) 9.58% 2.05% Compare
SID National Steel Company $1.0B — (loss-making) 199× +18.55% (above 0%: growing) n/m +8.38% (above 0%: growing) 25.92% 5.54%
NWPX NWPX Infrastructure, Inc. $797.7M 14.8× 17.5× +18.75% (above 0%: growing) +35.17% (above 0%: growing) +54.47% (above 0%: growing) 21.29% 13.55% Compare
MTUS Metallus Inc. $650.2M 27.4× 27.3× +10.23% (above 0%: growing) +202.58% (above 0%: growing) +1.56% (above 0%: growing) 10.77% 9.49% Compare
FRD Friedman Industries Inc. $256.1M 6.2× 5.0× +88.21% (above 0%: growing) +584.37% (above 0%: growing) +403.27% (above 0%: growing) 0.00% 12.75% Compare
MSB Mesabi Trust $216.4M 33.4× 56.9× −55.76% (below 0%: shrinking) n/m −94.31% (below 0%: shrinking) 100.00% 100.00% Compare
Median of peers $1.3B 19.9× 27.3× +18.01% +87.50% +75.59% 13.30% 12.90%

All 19 Steel stocks →

National Steel Company (SID) Latest News

17 Aug

Impact 3 ·

14 Aug

Impact 3 · transcript
Impact 3 · · MarketBeat transcript

15 May

Impact 4 · · MarketBeat
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14 May

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12 Mar

Impact 4 · · MarketBeat
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19 Jan

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14 Jan

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7 Jan

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6 Jan

Impact 4 · · Zacks
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10 Nov

Impact 4 · · GuruFocus.com

8 Oct

Impact 3 · · Zacks

8 Aug

Impact 3 ·

2 Aug

Impact 4 · · GuruFocus.com

24 Jun

Impact 3 ·

10 May

Impact 4 ·

14 Mar

Impact 4 · transcript

20 Feb

Impact 4 ·

6 Feb

Impact 3 ·

29 Jan

Impact 3 · · Zacks

23 Dec

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17 Dec

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14 Nov

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7 Nov

Impact 4 · · mining-technology.com
stockrow.com/SID · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com