Mechel PAO (MTL) vs National Steel Company (SID)

Mechel PAO and National Steel Company are both Steel companies. National Steel Company is the larger, with a market value of $1.5B against $1.2B — 1.2× the size. National Steel Company has negative trailing earnings, so its P/E is not meaningful; Mechel PAO trades at 0.8×. Mechel PAO grew revenue faster over the last twelve months: 48.0% against 9.26%. Mechel PAO has the higher net margin (20.0% vs −5.61%) and the lower return on invested capital (0.00% vs 3.18%). Across the 19 metrics below, Mechel PAO leads on 14 and National Steel Company on 5.

Valuation

Metric MTL SID Steel median
P/E 0.84 n/m 21.10
P/S 0.10 0.17 0.70
P/B n/m 0.48 1.39
Price to free cash flow 0.50 n/m 23.71
EV/EBITDA 2.62 6.66 10.71
EV/Sales 0.78 1.08 0.85
Earnings yield 119.61% (30.91%) 4.56%
Free cash flow yield 201.98% (86.32%) 0.00%

Profitability

Metric MTL SID Steel median
Gross margin 44.30% 27.75% 13.91%
Operating margin 0.00% 6.41% 4.77%
Net margin 20.04% (5.61%) 3.40%
Free cash flow margin 23.08% (13.90%) 0.00%
Return on equity (40.08%) (15.97%) 2.21%
Return on assets 37.90% (2.54%) 1.83%
Return on invested capital 0.00% 3.18% 2.52%

Growth

Metric MTL SID Steel median
Revenue growth (TTM) 48.03% 9.26% 11.33%
EPS growth (last fiscal year) 10,700.00% 25.00% —
Revenue growth, 5-year CAGR 5.72% 6.59% 6.73%
Net income growth, 5-year CAGR 59.28% 0.00% 0.00%

Health

Metric MTL SID Steel median
Debt to equity (1.81) 3.50 0.22
Current ratio 0.32 1.15 2.58
Net debt to EBITDA 2.26 4.48 0.10

Dividend

Metric MTL SID Steel median
Dividend yield — 14.27% 2.48%
Payout ratio 0.00 5.08 0.04

Size

Metric MTL SID Steel median
Market cap 1.21b 1.46b 1.46b

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