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    Steel
Usinas Siderúrgicas de Minas Gerais S.A.

Usinas Siderúrgicas de Minas Gerais S.A.

XUSIO.MC
Usinas Siderúrgicas de Minas Gerais S.A.ES flagMadrid Stock Exchange
1.68
EUR
+0.08
- -
2.07BMarket Cap
Usinas Siderúrgicas de Minas Gerais S.A.
XUSIO.MC
(Madrid Stock Exchange)

Recent

price

1.68

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
6,406
7,214
5,166

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
- -
- -
- -
- -
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Business
Usinas Siderúrgicas de Minas Gerais S.A. (Usiminas) is a Brazilian steelmaker specializing in the manufacture and sale of flat steel products, iron ore, and steel transformation solutions. The company operates through three main segments: Mining and Logistics, Steel Metallurgy, and Steel Transformation. Its core products include flat steel such as thick plates, hot strips, cold rolled, electrogalvanized, and hot dip galvanized steel products; iron ore products including pellet, sinter feed, and granulated iron ore; as well as steel parts for the automotive industry. Usiminas also provides services such as equipment manufacturing and installation for various industries; cold-rolled coils transformed into hot-dip galvanized coils; technology transfer for the steel industry; project management and services for civil construction and capital goods; road transportation of flat steel; rectification of cylinders and rolling mill rolls; hot-dip galvanizing; texturing and chrome plating of cylinders; and steel distribution. The company serves diverse markets including automotive, construction, energy, oil and gas, machinery and equipment, and distribution sectors. It was founded in 1956 and is headquartered in Belo Horizonte, Brazil. Recent significant developments include the strategic acquisition by Ternium, which increased its stake in Usiminas to a controlling 51.5% during 2024, consolidating the company within the larger Latin American steel producer's portfolio. Usiminas reported robust operational performance with a 31% growth in EBITDA for its steel unit compared to 2023, alongside improvements in operational efficiency such as an 11% reduction in cost of goods sold and plans for sustained capital expenditure around BRL1 billion focused on plant modernization, fuel efficiency, and emissions reduction. Additionally, the company continued advancing its decarbonization efforts, including blast furnace refurbishments and emission reductions as part of its 2024 sustainability agenda. The mining unit MUSA remains operational with strategies to extend asset life to 2030 while maintaining cost control measures. These changes reflect Usiminas' focus on operational excellence, sustainability, and strategic integration under Ternium's control to strengthen its market position domestically and internationally. Overall, Usinas Siderúrgicas de Minas Gerais operates primarily in Brazil but supports international sales, especially in the automotive and industrial sectors, managing a broad value chain from raw materials extraction and processing to finished steel product distribution across multiple industries. Its recent strategic ownership changes and operational improvements position it for enhanced competitiveness in the evolving steel market. This description is based on the latest data from company reports, market disclosures, and recent news as of late 2025.