1. Brazil Stocks

  2. •

    Basic Materials

  3. •

    Steel
Usinas Siderúrgicas de Minas Gerais S.A.

Usinas Siderúrgicas de Minas Gerais S.A.

USIM3.SA
Usinas Siderúrgicas de Minas Gerais S.A.BR flagB3 S.A.
9.10
BRL
-0.68
- -
11.20BMarket Cap
Usinas Siderúrgicas de Minas Gerais S.A.
USIM3.SA
(B3 S.A.)

Recent

price

9.10

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
13.13
12.06
12.88
12.99
11.89
10.31
7.54
8.74
11.18
12.16
13.08
27.41
26.38
22.45
21.02
21.34
21.6
Revenue per Share
1.6
0.24
-0.72
-0.14
0.13
-3.28
-0.6
0.19
0.59
0.17
0.55
7.37
1.31
1.13
-0.12
-2.5
0.3
Basic EPS, GAAP
-1.88
-3.05
0.76
0.07
0.24
-0.66
-0.48
0.54
0.06
1.05
2.41
3.13
-0.88
1.29
- -
0.82
-0.18
Free Cash Flow per Basic Share
0.6
0.38
0.1
0.11
0.15
0.04
- -
0.02
0.1
0.21
0.06
1.5
1
0.59
0.31
0.03
0.04
Dividend per Share
12.31
12.31
12.31
12.31
12.3
12.3
11.78
10.75
10.74
10.74
10.73
10.73
10.73
10.72
10.72
10.72
10.97
Book Value per Share
17.51
16.8
16.31
16.64
16.59
14.84
12.93
11.82
12.21
12.07
12.39
18.45
19.43
19.97
20.07
17.62
20.28
Tangible Book Value per Share
987
987
987
987
988
988
1,121
1,228
1,229
1,229
1,230
1,231
1,231
1,231
1,231
1,231
1,240
Basic Weighted Avg Shares
12,962
11,902
12,711
12,829
11,742
10,186
8,454
10,734
13,737
14,949
16,088
33,737
32,471
27,638
25,870
26,263
26,781
Sales/Revenue/Turnover
14.68
4.83
-3.66
3.13
4.38
-7.46
-7.13
8.81
11.18
6
11.01
34.91
11.84
2.54
0.99
2.33
2.7
Operating Margin (%)
823
857
965
1,072
1,115
1,312
1,216
1,172
1,030
992
1,000
983
903
1,062
1,226
1,275
1,248
Depreciation Expense
1,584
233
-707
-142
130
-3,236
-670
233
727
213
673
9,071
1,616
1,391
-146
-3,078
376
Net Income, GAAP
28.78
17.7
- -
- -
- -
- -
- -
25.15
32.92
14.91
30.02
18.45
36.17
- -
- -
- -
22.84
Effective Tax Rate (%)
12.22
1.96
-5.56
-1.1
1.1
-31.77
-7.92
2.17
5.29
1.43
4.18
26.89
4.98
5.03
-0.56
-11.72
1.4
Profit Margin (%)
8,774
8,421
5,305
4,373
3,476
2,399
4,668
4,208
4,989
5,972
7,351
13,667
14,966
12,417
12,648
12,723
13,721
Working Capital
6,904
7,479
6,339
5,511
4,978
5,957
6,857
5,646
5,383
5,061
5,870
6,181
6,152
5,855
6,717
6,288
7,554
LT Debt
19,029
19,014
18,513
18,834
18,762
14,994
15,192
15,184
15,697
15,566
16,838
24,359
25,888
26,549
26,684
23,701
27,149
Total Equity
5.54
1.72
- -
- -
- -
- -
- -
3.16
4.57
3.46
5.42
34
7.48
- -
- -
- -
1.6
Return on Invested Capital (%)
8.09
1.79
- -
- -
- -
- -
- -
3.01
4.32
2.1
1.36
36.82
6.57
- -
- -
- -
2.56
Return on Capital (%)
13.06
1.92
-5.82
-1.17
1.07
-26.63
-5.29
1.77
5.5
1.62
5.1
68.71
12.24
10.54
-1.11
-23.32
2.82
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
1,041
885
917
LT Borrowings
6,618
7,665
7,463
LT Finance Leases
100
93
90
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,231
1,231
1,231
Market Capitalization
6,677
7,041
5,133

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
17,431
18,340
18,065
Cash, Cash Equivalents & STI
5,954
6,556
6,744
Accounts Receivable, Net
3,157
3,557
3,251
Inventories
7,452
7,320
7,168
Total Current Liabilities
4,783
4,301
4,344
Payables & Accruals
- -
- -
- -
ST Debt
1,041
885
917
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.48%
8.57%
-11.18%
Free Cash Flow
-1,597.34%
-3,473.6%
-16,923.74%
Net Income, GAAP
319.33%
610.15%
2,009.13%
Sales/Revenue/Turnover
14.06%
17.24%
1.52%
Total Cash Common Dividend
85,279.46%
481.15%
-88.86%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6,223
6,350
6,817
6,480
25,870
2025
6,858
6,626
6,175
- -
26,263
2026
5,871
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
-0.11
0.13
- -
-0.12
2025
0.24
0.08
- -
- -
-2.5
2026
0.63
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.27
- -
- -
0.31
2025
- -
0.01
- -
- -
0.03
2026
0.03
- -
- -
- -
- -
Similar Companies
Lloyds Metals and Energy Limited (LLOYDSME.BO)
Tekno S.A. Indústria e Comércio (TKNO4.SA)
Tree Island Steel Ltd. (TSL.TO)
Unitech International Limited (UNITINT.BO)
Newton Resources Ltd (1231.HK)
TMT Steel Public Company Limited (TMT.BK)
Business
Usinas Siderúrgicas de Minas Gerais S.A. (Usiminas) manufactures and markets flat steel products in Brazil and internationally. The company produces ordinary heavy plates, Sincron series premium heavy plates, hot-rolled strips and coils, cold-rolled products, galvanized sheets and coils, slabs, electrogalvanized products, and hot-dip galvanized coils; it also extracts and processes iron ore including pellet feed, sinter feed, and granulated iron ore, while providing mining, logistics services such as storage, handling, road and rail cargo transportation, and operates highway and railway terminals. Usiminas serves sectors including automotive, civil construction, energy, white goods, oil and gas, machinery, equipment, railways, offshore platforms, and distribution, with primary sales in the Brazilian domestic market and exports to the United States, Argentina, and Turkey. Founded in 1956 and headquartered in Belo Horizonte, Minas Gerais, Brazil, the company operates major plants in Ipatinga (Minas Gerais) and Cubatão (São Paulo), along with mining operations through Mineração Usiminas S.A. (MUSA) in Itatiaiuçu (Minas Gerais). In recent developments, Ternium agreed to acquire the remaining stake of Nippon Steel in Usiminas' controlling group; the company entered a partnership with Embratel to deploy private LTE and 5G networks at its facilities; it secured a long-term power purchase agreement with Recurrent Energy for the 152 MW Jaiba III solar project; and ongoing investments include a new PCI plant set for completion in early 2026, coke battery upgrades projected for 2028-2029, blast furnace modernizations, and CapEx focused on operational efficiency amid a 45% nine-month EBITDA increase in 2025.