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 | 1.4x - 1.6x | 1.5x |
| Selected Fwd Ps Multiple | 1.6x - 1.7x | 1.6x |
| Fair Value | R$4.51 - R$4.99 | R$4.75 |
| Upside | -17.8% - -9.2% | -13.5% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| Vale S.A. | - | BOVESPA:VALE3 |
| Gerdau S.A. | - | BOVESPA:GGBR3 |
| Cia de Ferro Ligas da Bahia S.A. - FERBASA | - | BOVESPA:FESA3 |
| Metalurgica Gerdau S.A. | - | BOVESPA:GOAU3 |
| Companhia Brasileira de Alumínio | - | BOVESPA:CBAV3 |
| CSN Mineração S.A. | - | BOVESPA:CMIN3 |
| Select Price / LTM Sales Ratio | ||||||||
| Benchmark Companies | ||||||||
| VALE3 | GGBR3 | FESA3 | GOAU3 | CBAV3 | CMIN3 | |||
| BOVESPA:VALE3 | BOVESPA:GGBR3 | BOVESPA:FESA3 | BOVESPA:GOAU3 | BOVESPA:CBAV3 | BOVESPA:CMIN3 | |||
| Historical Sales Growth | ||||||||
| 5Y CAGR | 7.3% | 11.1% | 11.8% | 11.1% | 9.2% | 7.6% | ||
| 3Y CAGR | -11.1% | -5.1% | -2.2% | -5.1% | -1.0% | -4.7% | ||
| Latest Twelve Months | 2.6% | 2.9% | 2.2% | 2.9% | 23.7% | -5.5% | ||
| Historical Net Income Profit Margin | ||||||||
| 5 Year Average Margin | 26.1% | 11.4% | 18.8% | 11.4% | -0.8% | 25.2% | ||
| Prior Fiscal Year | 19.2% | 10.9% | 15.7% | 3.7% | -12.4% | 18.9% | ||
| Latest Fiscal Year | 15.3% | 6.8% | 14.7% | 2.3% | -2.2% | 27.4% | ||
| Latest Twelve Months | 14.9% | 4.8% | 13.6% | 1.6% | 2.0% | 21.4% | ||
| Current Trading Multiples | ||||||||
| EV / LTM EBITDA | 4.1x | 4.3x | 7.7x | 6.0x | 4.4x | 3.9x | ||
| Price / LTM Sales | 1.1x | 0.5x | 1.3x | 0.1x | 0.4x | 1.8x | ||
| LTM P/E Ratio | 7.5x | 9.6x | 9.4x | 35.1x | 17.1x | 8.5x | ||
| Low | Mid | High | ||||||
| Benchmark LTM P/S Ratio | 0.1x | 0.5x | 1.3x | |||||
| Historical LTM P/S Ratio | 0.0x | 1.8x | 2.5x | |||||
| Selected Price / Sales Multiple | 1.4x | 1.5x | 1.6x | |||||
| (x) LTM Sales | 16,897 | 16,897 | 16,897 | |||||
| (=) Equity Value | 23,817 | 25,070 | 26,324 | |||||
| (/) Shares Outstanding | 5,432.0 | 5,432.0 | 5,432.0 | |||||
| Implied Value Range | 4.38 | 4.62 | 4.85 | |||||
| FX Rate: BRL/BRL | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 4.38 | 4.62 | 4.85 | 5.49 | ||||
| Upside / (Downside) | -20.1% | -15.9% | -11.7% | |||||
| Equity Value | |||||||
| Benchmark Companies | |||||||
| (in millions) | VALE3 | GGBR3 | FESA3 | GOAU3 | CBAV3 | CMIN3 | |
| Value of Common Equity | 233,246 | 30,727 | 3,154 | 8,586 | 3,047 | 29,822 | |
| (/) Shares Outstanding | 4,268.8 | 2,028.2 | 277.7 | 993.7 | 651.1 | 5,432.0 | |
| Implied Stock Price | 54.64 | 15.15 | 11.36 | 8.64 | 4.68 | 5.49 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 54.64 | 15.15 | 11.36 | 8.64 | 4.68 | 5.49 | |
| 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 | |