A Business at a Glance
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NATIONAL STEEL CO
SID
$850M
Mkt Cap
$1.08
+1.89%
NATIONAL STEEL CO (SID) has a 5-year average return on invested capital (ROIC) of 26.1%. This indicates strong capital allocation and a potential competitive advantage.
NATIONAL STEEL CO (SID) has a market capitalization of $850M. It is classified as a small-cap stock.
Yes, NATIONAL STEEL CO (SID) pays a dividend with a trailing twelve-month yield of 298.30%.
NATIONAL STEEL CO (SID) operates in the Steel Works, Blast Furnaces & Rolling & Finishing Mills industry, within the Materials sector.
NATIONAL STEEL CO (SID) reported annual revenue of $43.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
NATIONAL STEEL CO (SID) has a net profit margin of -3.5%. The company is currently unprofitable.
NATIONAL STEEL CO (SID) generated $3.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Item 4. Information on the Company 4A. History and Development of the Company Companhia Siderúrgica Nacional (sociedade por ações) is one of Brazil’s largest and most diversified industrial groups, with integrated operations across the steel, mining, cement, logistics, and energy segments. We were established in 1941, as a state-owned enterprise, and began production in 1946 with the inauguration of the Presidente Vargas Steelworks, located in the city of Volta Redonda, in the state of Rio de Janeiro. This facility was Brazil’s first integrated flat steel mill. We were privatized through a series of auctions held in 1993 and early 1994, through which the Brazilian government sold its 91% ownership interest. After the privatization, we strategically shifted from a state-run steelmaker to a diversified industrial conglomerate.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 43.7B | 43.7B | 45.4B | 44.4B | 47.9B | 30.1B |
| Net Income | -1.5B | -1.5B | 403M | 2.2B | 13.6B | 4.3B |
| EPS | $-1.95 | $-1.95 | $-0.24 | $1.17 | $8.91 | $2.75 |
| Free Cash Flow | 3.2B | 3.2B | 2.9B | -1.3B | 11.9B | 7.9B |
| ROIC | 461.3% | 92.7% | 2.3% | 1.3% | 28.2% | 5.8% |
| Gross Margin | 26.8% | 26.8% | 26.3% | 30.0% | 46.1% | 36.4% |
| Debt/Equity | 0.57 | 0.57 | 0.39 | - | - | - |
| Dividends/Share | $3.22 | $3.22 | $3.00 | $2.03 | $2.16 | $0.20 |
| Operating Income | 5.7B | 5.7B | 450M | 253M | 3.0B | 482M |
| Operating Margin | 13.0% | 13.0% | 1.0% | 0.6% | 6.2% | 1.6% |
| ROE | -9.9% | -8.8% | 1.9% | - | - | - |
| Shares Outstanding | 787M | 787M | 1,326M | 1,851M | 1,526M | 1,561M |
| Metric | 2008 | 2009 | 2015 | 2016 | TTM | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 9.2B | 6.3B | 15.3B | 17.1B | 18.5B | 23.0B | 25.4B | 30.1B | 47.9B | 44.4B | 45.4B | 43.7B | 43.7B |
| Gross Margin | 38.9% | 27.8% | 23.1% | 26.3% | 26.6% | 29.9% | 32.1% | 36.4% | 46.1% | 30.0% | 26.3% | 26.8% | 26.8% |
| 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 | N/A |
| SG&A | 219M | 208M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 2.8B | 1.2B | 3.6B | 664M | 824M | 4.0B | 504M | 482M | 3.0B | 253M | 450M | 5.7B | 5.7B |
| Op. Margin | 30.9% | 18.4% | 23.7% | 3.9% | 4.4% | 17.6% | 2.0% | 1.6% | 6.2% | 0.6% | 1.0% | 13.0% | 13.0% |
| Net Income | 2.7B | 1.3B | 1.2B | 853M | 111M | 5.2B | 2.2B | 4.3B | 13.6B | 2.2B | 403M | -1.5B | -1.5B |
| Net Margin | 28.8% | 20.2% | 8.0% | 5.0% | 0.6% | 22.6% | 8.8% | 14.3% | 28.4% | 4.9% | 0.9% | -3.5% | -3.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 91.1% | 21.2% | N/A | N/A | 12.3% | 53.1% | 7.0% | 5.8% | 28.2% | 1.3% | 2.3% | 92.7% | N/M |
| ROE | 163.8% | 33.8% | N/A | N/A | 1.4% | N/A | N/A | N/A | N/A | N/A | 1.9% | -8.8% | -9.9% |
| ROA | 34.1% | 7.3% | 1557.6% | 1216.0% | N/A | 71.7% | 31.0% | 58.7% | 177.6% | 20.1% | 0.8% | -1.6% | -1.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 2.1B | 40M | 5.1B | 276M | 572M | 2.2B | 4.9B | 9.6B | 14.8B | 2.0B | 7.3B | 8.7B | 8.7B |
| Free Cash Flow | 1.2B | -890M | 3.5B | -1.4B | -488M | 891M | 2.7B | 7.9B | 11.9B | -1.3B | 2.9B | 3.2B | 3.2B |
| Owner Earnings | 1.7B | -303M | 3.9B | -1.0B | -881M | 935M | 3.4B | 7.1B | 12.6B | -835M | 3.9B | 4.9B | 4.9B |
| CapEx | 886M | 930M | 1.6B | 1.6B | 1.1B | 1.3B | 2.2B | 1.7B | 2.9B | 3.4B | 4.4B | 5.5B | 5.5B |
| Maint. CapEx | 341M | 343M | 1.2B | 1.3B | 1.5B | 1.3B | 1.5B | 2.5B | 2.2B | 2.9B | 3.4B | 3.8B | 3.8B |
| Growth CapEx | 545M | 587M | 439M | 306M | 0 | 44M | 697M | 0 | 647M | 475M | 1.0B | 1.7B | 1.7B |
| D&A | 341M | 343M | 1.2B | 1.3B | 1.5B | 1.3B | 1.5B | 2.5B | 2.2B | 2.9B | 3.4B | 3.8B | 3.8B |
| CapEx/OCF | N/A | N/A | 31.9% | 590.3% | 185.3% | 59.6% | 45.5% | 17.6% | 19.4% | 164.1% | 60.4% | 63.5% | 63.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 550M | 53K | 0 | 502M | 1.9B | 309M | 3.3B | 3.8B | 4.0B | 2.5B | 2.5B |
| Dividend Yield | N/A | N/A | 41.8% | 0.0% | N/A | 23.8% | 50.4% | 11.2% | 48.8% | 79.5% | 125.2% | 134.6% | 298.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 879M | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | 2.1% | N/A | N/A | N/A | 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 | N/A |
| Debt Repayment | 919M | 1.4B | 2.4B | 399M | 1.5B | 5.0B | 11.8B | 6.4B | 17.6B | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -616M | 524M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -8.4B | -14.5B | -14.5B |
| Cash & Equiv. | 3.5B | 4.0B | 7.9B | 4.9B | 3.4B | 2.2B | 1.1B | 9.9B | 16.6B | 12.0B | 16.0B | 23.3B | 23.3B |
| Long-Term Debt | 1.6B | 4.1B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 8.8B |
| Debt/Equity | 0.88 | 1.06 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.39 | 0.57 | 0.57 |
| Interest Coverage | N/A | N/A | 0.9 | 0.2 | 0.3 | 1.4 | 0.2 | 0.2 | 1.0 | 0.1 | 0.1 | 0.8 | 0.8 |
| Equity | 3.3B | 4.3B | N/A | N/A | 8.3B | N/A | N/A | N/A | N/A | N/A | 19.7B | 15.5B | 15.5B |
| Total Assets | 15.7B | 19.2B | 78M | 70M | N/A | 7.3B | 7.2B | 7.3B | 7.7B | 10.8B | 91.5B | 103.9B | 103.9B |
| Total Liabilities | 12.4B | 14.9B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 25.0B | 25.1B | 25.1B |
| Intangibles | 127M | 168M | N/A | N/A | N/A | 7.3B | 7.2B | 7.3B | 7.7B | 10.8B | 10.5B | 10.4B | 10.4B |
| Retained Earnings | 1.9B | 3.1B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.9B | 640M | 640M |
| Working Capital | 3.5B | 4.8B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 62M | 137M | 137M |
| Current Assets | 7.3B | 6.8B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 927M | 856M | 856M |
| Current Liabilities | 3.8B | 2.1B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 865M | 719M | 719M |
| Per Share Data | |||||||||||||
| EPS | 1.73 | 0.86 | -0.89 | -0.69 | 0.01 | 3.69 | 1.30 | 2.75 | 8.91 | 1.17 | -0.24 | -1.95 | -1.95 |
| Owner EPS | 1.13 | -0.20 | 2.81 | -0.75 | -0.64 | 0.66 | 1.94 | 4.52 | 8.24 | -0.45 | 2.95 | 6.17 | 6.17 |
| Book Value | 2.16 | 2.86 | N/A | N/A | 5.97 | N/A | N/A | N/A | N/A | N/A | 14.84 | 19.64 | 19.64 |
| Cash Flow/Share | 1.35 | 0.03 | 3.65 | 0.20 | 0.41 | 1.57 | 2.81 | 6.13 | 9.69 | 1.10 | 5.50 | 10.99 | 2.86 |
| Dividends/Share | 0.93 | 0.81 | 0.40 | 0.00 | N/A | 0.36 | 1.11 | 0.20 | 2.16 | 2.03 | 3.00 | 3.22 | 3.22 |
| Shares Out. | 1.5B | 1.5B | 1.4B | 1.4B | 1.4B | 1.4B | 1.7B | 1.6B | 1.5B | 1.9B | 1.3B | 787.0M | 787.0M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 2.3 | 11.4 | 12.0 | 3.0 | 15.9 | N/A | N/A | -0.6 |
| P/FCF | N/A | N/A | 0.2 | N/A | N/A | 2.1 | 1.4 | 0.7 | 0.4 | N/A | 1.7 | 0.4 | 0.3 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 71.1 | -1.6 | -2.4 |
| Price/Book | N/A | N/A | N/A | N/A | 1.4 | N/A | N/A | N/A | N/A | N/A | 2.1 | 0.7 | 0.1 |
| Price/Sales | N/A | N/A | 0.5 | 0.7 | 0.7 | 0.6 | 1.0 | 0.8 | 1.3 | 0.9 | 0.6 | 0.4 | 0.0 |
| FCF Yield | N/A | N/A | 236.1% | -29.6% | -13.6% | 27.7% | 40.8% | 78.9% | 156.1% | -19.5% | 35.5% | 164.3% | 371.3% |
| Market Cap | 0 | 0 | 1.5B | 4.6B | 3.6B | 3.2B | 6.5B | 10.0B | 7.6B | 6.7B | 8.1B | 1.9B | 850M |
| Avg. Price | 0.00 | 0.00 | 0.95 | 1.52 | 1.68 | 1.50 | 2.20 | 1.77 | 4.42 | 2.55 | 2.40 | 2.39 | 1.08 |
| Year-End Price | 0.00 | 0.00 | 0.62 | 1.94 | 1.52 | 1.35 | 2.22 | 3.78 | 2.95 | 2.14 | 3.62 | 1.44 | 1.08 |
NATIONAL STEEL CO passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 2.5x vs a median of 0.7x. The company's 5-year average ROIC is 26.1% with a gross margin of 33.1%. Total shareholder yield (dividends) is 298.3%. At current prices, the estimated annualized return to fair value is +1.6%.
NATIONAL STEEL CO (SID) has a debt-to-equity ratio of 0.57. This indicates moderate leverage.
NATIONAL STEEL CO (SID) reported earnings per share (EPS) of $-1.95 in its most recent fiscal year.
NATIONAL STEEL CO (SID) has a return on equity (ROE) of -8.8%. A negative ROE may indicate losses or negative equity.
NATIONAL STEEL CO (SID) has a 5-year average gross margin of 33.1%. This indicates decent pricing power.
The Ledger Terminal provides 13 years of financial data for NATIONAL STEEL CO (SID), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NATIONAL STEEL CO (SID) has a book value per share of $19.64, based on its most recent annual SEC filing.
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