Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM Ps Multiple | 1.5x - 1.7x | 1.6x |
| Selected Fwd Ps Multiple | 1.7x - 1.8x | 1.8x |
| Fair Value | R$4.73 - R$5.23 | R$4.98 |
| Upside | -20.7% - -12.3% | -16.5% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| Vale S.A. | - | BOVESPA:VALE3 |
| Metalurgica Gerdau S.A. | - | BOVESPA:GOAU3 |
| Cia de Ferro Ligas da Bahia S.A. - FERBASA | - | BOVESPA:FESA3 |
| Gerdau S.A. | - | BOVESPA:GGBR3 |
| Companhia Siderúrgica Nacional | - | BOVESPA:CSNA3 |
| CSN Mineração S.A. | - | BOVESPA:CMIN3 |
| Select Price / LTM Sales Ratio | ||||||||
| Benchmark Companies | ||||||||
| VALE3 | GOAU3 | FESA3 | GGBR3 | CSNA3 | CMIN3 | |||
| BOVESPA:VALE3 | BOVESPA:GOAU3 | BOVESPA:FESA3 | BOVESPA:GGBR3 | BOVESPA:CSNA3 | BOVESPA:CMIN3 | |||
| Historical Sales Growth | ||||||||
| 5Y CAGR | 7.3% | 11.1% | 11.8% | 11.1% | 11.4% | 7.6% | ||
| 3Y CAGR | -11.1% | -5.1% | -2.2% | -5.1% | -3.0% | -4.7% | ||
| Latest Twelve Months | -1.0% | -2.7% | -8.1% | -2.7% | -3.9% | -12.6% | ||
| Historical Net Income Profit Margin | ||||||||
| 5 Year Average Margin | 25.4% | 11.2% | 18.8% | 11.2% | 9.4% | 25.4% | ||
| Prior Fiscal Year | 19.2% | 3.7% | 15.7% | 10.9% | -0.7% | 18.9% | ||
| Latest Fiscal Year | 15.3% | 2.3% | 14.7% | 6.8% | -5.9% | 27.4% | ||
| Latest Twelve Months | 15.3% | 2.3% | 14.7% | 6.8% | -5.9% | 27.4% | ||
| Current Trading Multiples | ||||||||
| EV / LTM EBITDA | 4.1x | 5.6x | 8.0x | 3.9x | 5.6x | 4.3x | ||
| Price / LTM Sales | 1.2x | 0.1x | 1.4x | 0.5x | 0.3x | 2.0x | ||
| LTM P/E Ratio | 7.7x | 5.9x | 9.3x | 7.1x | -4.6x | 7.2x | ||
| Low | Mid | High | ||||||
| Benchmark LTM P/S Ratio | 0.1x | 0.5x | 1.4x | |||||
| Historical LTM P/S Ratio | 0.0x | 1.9x | 2.5x | |||||
| Selected Price / Sales Multiple | 1.5x | 1.6x | 1.7x | |||||
| (x) LTM Sales | 16,496 | 16,496 | 16,496 | |||||
| (=) Equity Value | 24,840 | 26,147 | 27,454 | |||||
| (/) Shares Outstanding | 5,432.0 | 5,432.0 | 5,432.0 | |||||
| Implied Value Range | 4.57 | 4.81 | 5.05 | |||||
| FX Rate: BRL/BRL | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 4.57 | 4.81 | 5.05 | 5.96 | ||||
| Upside / (Downside) | -23.3% | -19.2% | -15.2% | |||||
| Equity Value | |||||||
| Benchmark Companies | |||||||
| (in millions) | VALE3 | GOAU3 | FESA3 | GGBR3 | CSNA3 | CMIN3 | |
| Value of Common Equity | 243,018 | 9,207 | 3,019 | 31,413 | 11,922 | 32,375 | |
| (/) Shares Outstanding | 4,268.7 | 999.7 | 246.4 | 2,029.3 | 1,326.1 | 5,432.0 | |
| Implied Stock Price | 56.93 | 9.21 | 12.25 | 15.48 | 8.99 | 5.96 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 56.93 | 9.21 | 12.25 | 15.48 | 8.99 | 5.96 | |
| Trading Currency | BRL | BRL | BRL | BRL | BRL | BRL | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |