1. Brazil Stocks

  2. •

    Basic Materials

  3. •

    Steel
Gerdau S.A.

Gerdau S.A.

GGBR3.SA
Gerdau S.A.BR flagB3 S.A.
19.42
BRL
+0.04
- -
38.63BMarket Cap
Gerdau S.A.
GGBR3.SA
(B3 S.A.)

Recent

price

19.42

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
17.48
17.11
17.73
18.56
19.81
20.51
17.49
17.14
21.6
18.52
20.44
36.45
38.7
32.83
32.84
35.37
34.84
Revenue per Share
1.19
0.97
0.67
0.74
0.65
-2.14
-1.34
-0.17
1.08
0.56
1.1
7.21
5.36
3.57
2.24
0.7
0.48
Basic EPS, GAAP
1.53
-0.19
0.49
0.62
0.08
2.22
0.99
0.54
0.35
-0.1
2.15
4.34
3.13
2.76
2.66
0.57
1.21
Free Cash Flow per Basic Share
0.57
0.27
0.24
0.2
0.21
0.17
0.04
0.04
0.28
0.23
0.13
2.48
2.77
1.28
0.81
0.65
0.64
Dividend per Share
3.08
13.33
13.27
13.84
14.42
12.31
10.69
10.48
11.26
11.63
12.38
17.26
19.45
21.97
23.77
23.96
24.16
Book Value per Share
6.02
7.77
8.12
8.93
8.92
7.06
6.26
6.98
7.48
7.96
8.57
13.9
16.08
18.12
21.52
20.81
20.6
Tangible Book Value per Share
1,796
2,070
2,143
2,147
2,148
2,125
2,153
2,154
2,137
2,141
2,143
2,149
2,130
2,099
2,041
1,975
1,986
Basic Weighted Avg Shares
31,393
35,407
37,982
39,863
42,546
43,581
37,652
36,918
46,159
39,644
43,815
78,345
82,412
68,916
67,027
69,859
69,199
Sales/Revenue/Turnover
10.41
7.95
6.16
6.77
5.88
4.14
3.59
5.53
9.64
8.07
12.45
25.55
20.14
13.97
9.57
8.03
8.65
Operating Margin (%)
1,893
1,772
1,827
2,030
2,227
2,608
2,536
2,093
1,892
2,074
2,499
2,659
2,867
3,047
3,126
3,684
3,712
Depreciation Expense
2,142
2,006
1,426
1,584
1,403
-4,551
-2,891
-359
2,304
1,204
2,366
15,494
11,426
7,502
4,566
1,387
1,640
Net Income, GAAP
16.96
10.77
4.05
- -
- -
- -
- -
- -
- -
27.34
31.69
23.25
27.62
19.36
15.83
43.81
43.44
Effective Tax Rate (%)
6.82
5.66
3.75
3.97
3.3
-10.44
-7.68
-0.97
4.99
3.04
5.4
19.78
13.86
10.89
6.81
1.99
2.37
Profit Margin (%)
7,924
10,542
8,587
10,941
12,910
14,314
9,175
10,268
8,999
10,811
11,927
18,604
17,795
17,913
21,818
18,718
18,213
Working Capital
12,977
11,927
12,086
14,868
17,484
24,075
16,125
14,505
13,083
15,089
16,731
12,941
10,266
10,025
13,751
14,243
13,992
LT Debt
20,148
26,520
28,798
32,021
33,255
31,970
24,275
23,894
25,939
27,173
31,085
42,816
46,298
49,239
58,174
53,798
52,972
Total Equity
7.5
6.61
5.3
- -
- -
- -
- -
- -
- -
5.41
7.82
27.97
20.05
12.61
7.93
4.39
4.78
Return on Invested Capital (%)
8.83
8.33
4.88
- -
- -
- -
- -
- -
- -
4.62
6.98
33.34
22.45
14.32
8.52
3.34
3.72
Return on Capital (%)
16.94
12.11
5.09
5.45
4.62
-15.94
-11.76
-1.58
9.88
4.92
9.2
48.7
29.11
17.14
9.65
2.89
1.97
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
3,697
1,328
1,383
LT Borrowings
15,329
13,240
12,925
LT Finance Leases
964
1,003
1,067
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,985
1,975
1,967
Market Capitalization
29,879
35,052
35,137

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
33,400
28,605
28,574
Cash, Cash Equivalents & STI
9,874
6,375
5,590
Accounts Receivable, Net
5,878
4,811
5,863
Inventories
15,272
14,731
15,190
Total Current Liabilities
12,353
9,887
10,360
Payables & Accruals
7,005
6,615
7,163
ST Debt
3,697
1,328
1,383
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.49%
12.57%
-7.52%
Free Cash Flow
-264.38%
-4.87%
-79.12%
Net Income, GAAP
-43.08%
77.12%
-69.62%
Sales/Revenue/Turnover
7.5%
13.82%
4.22%
Total Cash Common Dividend
219.37%
347.63%
-22.38%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
16,210
16,616
17,378
16,823
67,027
2025
17,375
17,526
17,983
16,974
69,859
2026
16,716
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.97
0.41
0.22
0.15
2.24
2025
0.37
0.43
- -
-0.66
0.7
2026
0.51
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.08
0.28
0.12
0.32
0.81
2025
0.1
0.13
- -
0.29
0.65
2026
0.09
- -
- -
- -
- -
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Business
Gerdau S.A. (GGBR3.SA) produces long steel, special steel, flat steel and iron ore; offers merchant bars, rebar, wire rod, billets, slabs, structural shapes, piling products, special bar quality steel, forged and cast steel components; and provides downstream fabricated products including nails and engineered solutions for construction, automotive, industrial, agricultural, energy, mining and infrastructure sectors. Founded in 1901 and headquartered in Sao Paulo, Brazil, the company operates through Brazil Business, North America Business, South America Business and Special Steel Business segments with industrial facilities in Brazil, the United States, Canada, Mexico, Argentina, Uruguay, Peru and Colombia. Gerdau maintains over 30 steel mills and service centers, two iron ore mines, and 230,000 hectares of eucalyptus forests as the largest steel scrap recycler in Latin America, transforming about 10-11 million tonnes annually into steel with roughly 70% scrap-based production. In February 2025, Gerdau completed the full acquisition of Gerdau Summit Aços Fundidos e Forjados S.A. for $32.6 million from Sumitomo Corporation and Japan Steel Works, gaining 100% ownership of the cast and forged steel producer with 40,000-tonne annual capacity to expand high-value-added products; in September 2024, it acquired Dales Recycling Partnership assets for $60 million to bolster North American scrap supply; the company invests R$5.2 billion in major projects through 2027 including Midlothian mill expansion and solar parks via Gerdau Next, down from prior R$9.2 billion estimates, targeting R$1.5 billion annual EBITDA uplift, alongside renewable energy commitments and B Corp certification for Siderperu.