| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 70 | — | 17.8x | Top tier | |
Growth | 23 | -1.5% | 7.1% | Bottom tier | |
Quality | 34 | 7.2% | 4.5% | Bottom tier | |
Safety | 24 | 6.1x | 2.6x | Bottom tier | |
Capital Return | 5 | — | 2.12% | Bottom tier | |
Momentum | 31 | -30.1% | 2.9% | Bottom tier | |
Sentiment | 2 | 1 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Companhia Siderúrgica Nacional operates through an integrated industrial portfolio spanning steel, mining, cement, logistics services, and energy. Operating income comes from selling steel products within and outside Brazil, producing and selling iron ore, selling cement through 24 distribution centers and a base of 32 thousand customers, as well as freight transportation and power generation. This diversification reduces the dependence of results on a single sector, as improvements in steel, cement, and logistics services in Q2 FY2026 offset the pressures faced by mining.
In FY2024, revenue declined to $43.7 billion from $45.4 billion in FY2023, while gross profit reached $11.7 billion versus $12.0 billion. These figures represent a gross profit margin of approximately 26.8% in FY2024, but the net result turned into a loss of $1.5 billion and negative earnings per share of 1.9545, compared with net income of $402.6 million in FY2023. The longer-term trajectory shows a significant decline from FY2021, when the company recorded revenue of $47.9 billion and net income of $13.6 billion.
In Q2 FY2026, consolidated earnings before interest, taxes, depreciation, and amortization increased 5% both quarter over quarter and year over year, and free cash flow reached BRL 808 million after several negative quarters. Steel sales increased 17% quarter over quarter and the segment margin returned to 10.5%, while the mining margin exceeded 30% despite higher freight costs and foreign exchange effects. Cement recorded earnings before interest, taxes, depreciation, and amortization exceeding BRL 420 million at a margin above 30%, and logistics services maintained a margin above 45%, but leverage increased from 3.36 times to 3.49 times.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus for SID stock is Sell, with an average target of $1.4 and both the highest and lowest targets matching at the same level; this target falls within the 52-week range of $0.84–$2.2 and is approximately 36% below its high. A positive price-to-earnings ratio is unavailable given the FY2024 loss of $1.5 billion and negative earnings per share, so the valuation is tied more to the company's ability to restore profitability and reduce leverage than to currently stable earnings.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
Steel benefited from anti-dumping measures implemented in March 2026 and reduced import pressure on domestic producers. Segment sales increased 17% quarter over quarter in Q2 FY2026, and domestic sales grew 10% year over year, while overseas sales reached their highest level since Q1 FY2023. The segment margin returned to 10.5%, and on August 13, 2026, management guided to a potential range between 15% and 17% during H2 FY2026.
The company recorded positive free cash flow of BRL 808 million in Q2 FY2026 after several negative quarters. The improvement came mainly from the release of working capital and financing raised, and helped absorb debt amortization and prepayment contracts. Management estimated the potential to release an additional BRL 1 billion by the end of FY2026 by reducing inventories of raw materials, products, and maintenance parts.
Cement revenue grew 14% quarter over quarter and 10% year over year in Q2 FY2026, and earnings before interest, taxes, depreciation, and amortization exceeded BRL 420 million at a margin above 30%. The operation serves 32 thousand customers through 24 distribution centers and benefited from the Minha Casa, Minha Vida program and infrastructure projects. The company had received binding bids for the sale of the cement asset by August 13, 2026, but as of that date had not announced the buyer, final value, or transaction terms.
Leverage increased from 3.36 times to 3.49 times in Q2 FY2026, despite free cash flow returning to positive territory. The company moved more than $1 billion of January 2028 maturities to later dates, but it still depends on improving cash flow and selling assets to reduce debt. The P15 project also requires remaining capital expenditure of BRL 4 billion, with completion targeted by the end of 2027, production ramp-up beginning in 2028, and full operation reached in 2029.
The mine was shut down for 15 days for scheduled work, and the production or sales volume cited in the presentation declined by 5.5%. Higher freight costs and foreign exchange effects also pressured unit revenue, which reached $18 per ton and declined 20% from the previous quarter. Nevertheless, the segment recorded the fourth-best sales result in its history and maintained an earnings before interest, taxes, depreciation, and amortization margin above 30%.
The average price target is $1.4, which is also the highest and lowest available target, compared with a 52-week range between $0.84 and $2.2. A positive price-to-earnings ratio is unavailable, as the company recorded a net loss of $1.5 billion and negative earnings per share of 1.9545 in FY2024. Leverage of 3.49 times, mining pressures, and the dependence of debt reduction on completing asset sales add execution risks that explain the cautious consensus.
