A Business at a Glance
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GERDAU S.A.
GGB
$6.1B
Mkt Cap
$4.81
+0.84%
GERDAU S.A. (GGB) has a current P/E ratio of 21.0, compared to its historical median P/E of 11.9. The stock is currently considered Expensive based on its historical valuation range.
GERDAU S.A. (GGB) has a 5-year average return on invested capital (ROIC) of 28.8%. This indicates strong capital allocation and a potential competitive advantage.
GERDAU S.A. (GGB) has a market capitalization of $6.1B. It is classified as a mid-cap stock.
Yes, GERDAU S.A. (GGB) pays a dividend with a trailing twelve-month yield of 3.82%.
Based on historical P/E analysis, GERDAU S.A. (GGB) appears expensive. The current P/E of 21.0 is 77% above its historical median of 11.9. The estimated fair value CAGR (P/E method) is 17.4%.
GERDAU S.A. (GGB) operates in the Steel Works, Blast Furnaces & Rolling & Finishing Mills industry, within the Materials sector.
GERDAU S.A. (GGB) reported annual revenue of $12.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
ITEM 4. COMPANY INFORMATION A.HISTORY AND DEVELOPMENT OF THE COMPANY Gerdau S.A. is a Brazilian corporation (Sociedade Anônima) that was incorporated on November 20, 1961, under the laws of Brazil. Its main registered office is located at Av. Dra. Ruth Cardoso, 8501 – 8th floor, São Paulo, SP, Brazil, and the telephone number is +55 (11) 3094 6300. Gerdau’s shares are listed on the São Paulo (B3) and New York (NYSE) stock exchanges. Recent History The Company is the product of several corporate acquisitions, mergers and other transactions dating back to 1901. The Company began operating in 1901 as the Pontas de Paris nail factory controlled by the Gerdau family based in Porto Alegre, who is still the Company’s indirect controlling shareholder. In 1969, Pontas de Paris was renamed Metalúrgica Gerdau S.A., which today is the holding company controlled by the Gerdau family and the parent company of Gerdau S.A.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 12.6B | 12.6B | 12.4B | 13.9B | 16.0B | 14.5B |
| Net Income | 255M | 255M | 848M | 1.5B | 2.2B | 2.9B |
| EPS | $0.07 | $0.07 | $0.23 | $0.34 | $0.57 | $0.76 |
| Free Cash Flow | 235M | 235M | 1.0B | 1.2B | 2.2B | 2.3B |
| ROIC | 4.3% | 4.5% | 12.9% | 18.7% | 43.0% | 64.6% |
| Gross Margin | 11.4% | 11.4% | 13.7% | 16.4% | 22.8% | 26.6% |
| Debt/Equity | 0.02 | 0.02 | 0.01 | 0.52 | 0.59 | 0.72 |
| Dividends/Share | $0.18 | $0.18 | $0.24 | $0.36 | - | - |
| Operating Income | 673M | 673M | 1.4B | 2.1B | 3.5B | 3.9B |
| Operating Margin | 5.4% | 5.4% | 11.2% | 15.2% | 21.5% | 26.8% |
| ROE | 2.6% | 2.5% | 8.6% | 15.8% | 25.8% | 42.1% |
| Shares Outstanding | 1,258M | 1,258M | 1,258M | 1,509M | 1,585M | 1,590M |
| Metric | 2015 | 2016 | TTM | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 13.1B | 10.9B | 11.5B | 12.6B | 10.1B | 8.5B | 14.5B | 16.0B | 13.9B | 12.4B | 12.6B | 12.6B |
| Gross Margin | 9.8% | 9.2% | 9.8% | 13.3% | 10.6% | 13.5% | 26.6% | 22.8% | 16.4% | 13.7% | 11.4% | 11.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 539M | 444M | 516M | 455M | 363M | 296M | 390M | 426M | 300M | 259M | 241M | 241M |
| EBIT | -965M | -476M | 343M | 1.1B | 807M | 1.0B | 3.9B | 3.5B | 2.1B | 1.4B | 673M | 673M |
| Op. Margin | -7.4% | -4.3% | 3.0% | 8.8% | 8.0% | 11.9% | 26.8% | 21.5% | 15.2% | 11.2% | 5.4% | 5.4% |
| Net Income | -1.4B | -839M | -106M | 637M | 308M | 462M | 2.9B | 2.2B | 1.5B | 848M | 255M | 255M |
| Net Margin | -10.5% | -7.7% | -0.9% | 5.0% | 3.1% | 5.5% | 19.9% | 13.9% | 10.9% | 6.9% | 2.0% | 2.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||||||
| ROIC | -14.1% | -10.3% | 5.2% | 18.2% | 13.4% | 20.4% | 64.6% | 43.0% | 18.7% | 12.9% | 4.5% | 4.3% |
| ROE | -14.1% | -10.3% | -1.4% | 9.3% | 4.6% | 8.2% | 42.1% | 25.8% | 15.8% | 8.6% | 2.5% | 2.6% |
| ROA | -12.7% | -9.8% | -0.7% | 4.6% | 2.3% | 4.1% | 22.7% | 15.6% | 10.1% | 5.7% | 1.7% | 1.7% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 2.1B | 1.0B | 648M | 548M | 416M | 1.2B | 2.3B | 2.2B | 2.2B | 2.1B | 1.4B | 1.4B |
| Free Cash Flow | 1.5B | 638M | 648M | 548M | 416M | 1.2B | 2.3B | 2.2B | 1.2B | 1.0B | 235M | 235M |
| Owner Earnings | 1.4B | 285M | -5.1M | 30M | -109M | 756M | 1.8B | 1.6B | 1.6B | 1.5B | 774M | 774M |
| CapEx | 697M | 385M | 0 | 0 | 0 | 0 | 0 | 0 | 1.0B | 1.1B | 1.2B | 1.2B |
| Maint. CapEx | 782M | 737M | 653M | 518M | 526M | 484M | 492M | 558M | 613M | 576M | 663M | 663M |
| Growth CapEx | 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A | 435M | 489M | 539M | 539M |
| D&A | 782M | 737M | 653M | 518M | 526M | 484M | 492M | 558M | 613M | 576M | 663M | 663M |
| CapEx/OCF | 32.5% | 37.6% | 42.1% | 59.8% | 106.3% | 25.8% | 24.2% | 38.5% | 46.8% | 50.8% | N/A | 83.7% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 107M | 25M | 28M | 0 | 0 | 0 | 0 | 0 | 540M | 305M | 231M | 231M |
| Dividend Yield | 7.0% | 1.7% | 1.2% | N/A | N/A | N/A | N/A | N/A | 9.3% | 7.4% | N/A | 3.8% |
| Share Buybacks | 0 | 0 | 30M | 67M | 62M | 47M | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 1.5B | 1.3B | 0 | 0 | 0 | 0 | 0 | 0 | 569M | 603M | 1.4B | 1.4B |
| Balance Sheet | ||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -1.3B | -905M | -905M |
| Cash & Equiv. | 1.7B | 1.5B | 797M | 792M | 670M | 893M | 770M | 482M | 604M | 1.4B | 1.1B | 1.1B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 161M |
| Debt/Equity | 1.19 | 1.25 | 1.11 | 0.98 | 0.99 | 1.03 | 0.72 | 0.59 | 0.52 | 0.01 | 0.02 | 0.02 |
| Interest Coverage | -1.8 | -0.8 | 0.6 | 2.6 | 2.2 | 3.6 | 14.7 | 11.4 | 7.5 | 5.0 | 1.8 | 1.8 |
| Equity | 9.6B | 7.1B | 7.4B | 7.1B | 6.9B | 6.0B | 7.9B | 9.0B | 9.9B | 10.7B | 9.7B | 9.7B |
| Total Assets | 21.0B | 15.9B | 15.7B | 14.0B | 13.7B | 12.2B | 13.7B | 14.4B | 15.1B | 16.0B | 14.7B | 14.7B |
| Total Liabilities | 11.4B | 8.8B | 8.2B | 6.9B | 6.8B | 6.2B | 5.7B | 5.4B | 5.2B | 5.3B | 5.0B | 5.0B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | 1.0B | 1.3B | 1.4B | 1.4B | 3.3B | 4.3B | 5.2B | 4.5B | 4.1B | 4.1B |
| Working Capital | N/A | N/A | 3.2B | 2.5B | 2.7B | 2.3B | 3.4B | 3.5B | 739M | 4.0B | 3.4B | 3.4B |
| Current Assets | N/A | N/A | 5.6B | 4.8B | 4.6B | 4.5B | 6.0B | 6.1B | 2.2B | 6.0B | 5.1B | 5.1B |
| Current Liabilities | N/A | N/A | 2.4B | 2.3B | 1.9B | 2.2B | 2.6B | 2.6B | 1.4B | 2.0B | 1.8B | 1.8B |
| Per Share Data | ||||||||||||
| EPS | -0.37 | -0.22 | -0.03 | 0.17 | 0.08 | 0.12 | 0.76 | 0.57 | 0.34 | 0.23 | 0.07 | 0.07 |
| Owner EPS | 1.08 | 0.23 | -0.00 | 0.02 | -0.09 | 0.57 | 1.15 | 1.02 | 1.08 | 1.21 | 0.62 | 0.62 |
| Book Value | 7.57 | 5.57 | 5.88 | 5.61 | 5.45 | 4.54 | 4.98 | 5.69 | 6.56 | 8.53 | 7.69 | 7.69 |
| Cash Flow/Share | 1.70 | 0.81 | 0.51 | 0.43 | 0.33 | 0.94 | 1.46 | 1.37 | 1.48 | 1.67 | 1.14 | 0.73 |
| Dividends/Share | 0.08 | 0.02 | 0.02 | N/A | N/A | N/A | N/A | N/A | 0.36 | 0.24 | 0.18 | 0.18 |
| Shares Out. | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 1.6B | 1.6B | 1.5B | 1.3B | 1.3B | 1.3B |
| Valuation | ||||||||||||
| P/E Ratio | N/A | N/A | N/A | 11.9 | 32.3 | 19.8 | 3.7 | 6.6 | 9.4 | 12.4 | N/A | 67.9 |
| P/FCF | 0.5 | 3.3 | 3.8 | 4.6 | 7.9 | 2.7 | 2.0 | 2.9 | 4.9 | 3.5 | N/A | 25.8 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.2 | 1.9 | N/A | 7.6 |
| Price/Book | 0.1 | 0.3 | 0.3 | 0.4 | 0.5 | 0.5 | 0.5 | 0.6 | 0.5 | 0.3 | N/A | 0.6 |
| Price/Sales | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | N/A | 0.5 |
| FCF Yield | 185.7% | 30.3% | 26.6% | 21.9% | 12.7% | 40.9% | 62.0% | 43.8% | 24.6% | 28.7% | N/A | 3.9% |
| Market Cap | 781M | 2.1B | 2.4B | 2.5B | 3.3B | 3.0B | 3.7B | 5.0B | 4.9B | 3.6B | 0 | 6.1B |
| Avg. Price | 1.22 | 1.13 | 1.77 | 2.22 | 1.98 | 1.89 | 2.98 | 3.34 | 3.84 | 3.29 | 0.00 | 4.81 |
| Year-End Price | 0.62 | 1.66 | 1.92 | 1.97 | 2.59 | 2.52 | 2.95 | 3.93 | 3.84 | 2.85 | 0.00 | 4.81 |
GERDAU S.A. passes 5 of 9 quality checks, suggesting mixed fundamentals.
GERDAU S.A. trades at 21.0x trailing earnings, compared to its 15-year median P/E of 11.9x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 5.9x vs a median of 3.5x. The company's 5-year average ROIC is 28.8% with a gross margin of 18.2%. Total shareholder yield (dividends) is 3.8%. At current prices, the estimated annualized return to fair value is +33.2%.
GERDAU S.A. (GGB) has a net profit margin of 2.0%. This is a modest margin.
GERDAU S.A. (GGB) generated $235 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
GERDAU S.A. (GGB) has a debt-to-equity ratio of 0.02. This indicates a conservatively financed balance sheet.
GERDAU S.A. (GGB) reported earnings per share (EPS) of $0.07 in its most recent fiscal year.
GERDAU S.A. (GGB) has a return on equity (ROE) of 2.5%. This indicates moderate shareholder returns.
GERDAU S.A. (GGB) has a 5-year average gross margin of 18.2%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 11 years of financial data for GERDAU S.A. (GGB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
GERDAU S.A. (GGB) has a book value per share of $7.69, based on its most recent annual SEC filing.