OakChart

Gerdau SA ADR

GGBBasic Materials·Steel·Brazil·Mid·NYSE·Nov 11 • 3:59 PM ET

4.59-0.04 (-0.86%)
2026-11-12 06:30 CET
Market cap
5,714.46 USD m
Revenue, TTM
13,501.15 USD m
Net income, TTM
540.24 USD m
Free cash flow, TTM
712.60 USD m
EPS diluted, TTM
0.27
P/E
16.76
Compare

Price

GGB against its 20, 50 and 200-day averages
2050200missearnings
4.004.505.005.5019.7M39.5MVolumeMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26GGBclose 4.5920-day 4.7850-day 4.90200-day 4.484.5952w high

16.2% under the 52-week high of 5.48 on 5 Oct 2026. 52-week low 3.14 on 19 Mar 2026. Last 15 sessions, 20.9% high to low

Volume 0.80× normal · the line is the 50-bar volume average

Profile

GGB
52-week range, 62% of the way up
3.145.48

Gerdau SA engages in the production and commercialization of steel products. It operates through the following segments: Brazil Operation, North America Operation, South Africa Operation, and Special Steels Operation. The Brazil Operation segment includes rebar, bars, shapes, drawn products, billets, blooms, slabs; wire rod, structural shapes, and iron ore. The North America Operation segment consists of rebar, bars, wire rod, and light and heavy structural shapes. The South Africa Operation segment covers rebar, bars, and drawn products. The Special Steels Operation segment comprises of stainless steel, round, square and flat bars, and wire rod. The company was founded by Joao Gerdau and Hugo Gerdau on January 16, 1901 and is headquartered in Sao Paulo, Brazil.

Employees25817
IPOMar 10, 1999
Beta1.53
ATR, 14d0.19
Rel volume0.80
Short float2.86%
Insider own0.00%
Inst own33.37%

Snapshot

6 groups

Valuation

Index-
Market Cap5.71B
Enterprise Value7.58B
Income540.24M
Sales13.50B
Book/sh5.39
Cash/sh0.94
Dividend Est.0.18 (3.87%)
Dividend TTM0.15 (3.29%)
Dividend Ex-DateNov 12, 2026
Dividend Gr. 3/5Y-42.64% 14.87%
Payout82.17%
Employees25817
IPOMar 10, 1999

Ratios

P/E16.76
Forward P/E7.34
PEG0.11
P/S0.42
P/B0.85
P/C4.89
P/FCF8.02
EV/EBITDA3.93
EV/Sales0.56
Quick Ratio1.34
Current Ratio2.90
Debt/Eq0.28
LT Debt/Eq0.26
Option/ShortYes / Yes

Earnings

EPS (ttm)0.27
EPS next Y0.63
EPS next Q0.13
EPS this Y313.09%
EPS next Y13.10%
EPS next 5Y64.51%
EPS past 3/5Y-50.78% -10.35%
Sales past 3/5Y-7.81% 8.04%
EPS Y/Y TTM4.20%
Sales Y/Y TTM10.25%
EPS Q/Q55.05%
Sales Q/Q10.24%
EarningsOct 27 BMO
EPS/Sales Surpr.-13.86% -3.73%

Ownership

Insider Own0.00%
Insider Trans-
Inst Own33.37%
Inst Trans1.42%
ROA3.31%
ROE5.19%
ROIC4.05%
Gross Margin14.75%
Oper. Margin9.03%
Profit Margin4.00%
SMA20-4.01%
SMA50-6.39%
SMA2002.51%
Trades-

Technical

Shs Outstand1.24B
Shs Float1.24B
Short Float2.86%
Short Ratio2.49
Short Interest35.65M
52W High5.48 -16.24%
52W Low3.14 46.18%
Volatility4.03% 3.97%
ATR (14)0.19
RSI (14)43.51
Beta1.53
Rel Volume0.80
Avg Volume14.33M
Volume11,509,072

Performance

Perf Week-0.22%
Perf Month-11.39%
Perf Quarter-4.37%
Perf Half Y-1.92%
Perf YTD24.39%
Perf Year25.75%
Perf 3Y16.47%
Perf 5Y35.23%
Perf 10Y78.60%
Recom1.92
Target Price5.61
Prev Close4.63
Price4.59
Change %-0.86%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Aug 21, 2026DowngradeHHSBC SecuritiesBuy → Hold
Aug 20, 2026DowngradeBBofA SecuritiesBuy → Neutral$5.10+11.1%
Apr 01, 2026UpgradeIItau BBAMarket Perform → Outperform$4.60+0.2%
Jun 09, 2025UpgradeUUBSNeutral → Buy
Apr 07, 2025DowngradeBBofA SecuritiesBuy → Neutral
Mar 12, 2025InitiatedUUBSNeutral
May 24, 2024UpgradeBBofA SecuritiesNeutral → Buy$4.50 → $5+8.9%
Apr 15, 2024UpgradeJJP MorganNeutral → Overweight
Nov 20, 2023DowngradeBBofA SecuritiesBuy → Neutral
Feb 09, 2023DowngradeJJP MorganOverweight → Neutral$7 → $6+30.7%

Peers

Mkt cap
TickerCompanyMkt cap
NUENucor Corp59.30B
SIMGrupo Simec SAB de CV ADR4.04B
STLDSteel Dynamics Inc33.99B
SIDCompanhia Siderurgica Nacional ADR1.10B
TXTernium SA ADR10.12B
CMCCommercial Metals Co7.11B
MTArcelorMittal SA49.89B
CLFCleveland-Cliffs Inc7.50B
MTUSMetallus Inc724.92M
RSReliance Inc21.90B

Insider trading

latest 14 of 27
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Johannpeter ClaudioVice-Chairman of BoardSep 23 '26Sale4.9485,607422,8990Sep 25 04:32 PM
Lopes Rafael GamboaExecutive Vice PresidentSep 17 '26Sale5.0951,800263,66283,399Sep 21 04:30 PM
Mattiello Marcos ZillesSenior ManagementJun 08 '26Sale5.1110,38753,0780Aug 14 08:55 AM
Johannpeter Andre Bier GerdauChairman of Board of DirectorsAug 10 '26Sale4.9499,200490,048247,380Aug 12 04:46 PM
Japur Rafael DornelesVP, CFO and IR OfficerAug 06 '26Sale5.1010,00051,00086,967Aug 10 04:16 PM
Da Cunha Gustavo WerneckCEO and Board MemberJun 12 '26Buy4.73165,224781,510165,224Jun 15 04:39 PM
Wang Chia YuanSenior ManagementJun 02 '26Sale4.4930,935138,8980Jun 03 04:54 PM
Metz MauricioExecutive Vice PresidentJun 02 '26Sale4.857,00033,95022,536Jun 03 04:27 PM
Metz MauricioExecutive Vice PresidentMay 26 '26Sale4.705,00023,50029,536May 28 04:10 PM
Japur Rafael DornelesVP, CFO and IR OfficerMay 22 '26Sale4.755,00023,75096,967May 26 04:31 PM
Peres Cesar Obino da RosaOfficerMay 19 '26Sale4.608,00036,8008May 22 08:47 AM
Metz MauricioExecutive Vice PresidentMay 13 '26Sale4.855,00024,25034,536May 15 04:41 PM
Da Cunha Gustavo WerneckCEO and Board MemberMay 08 '26Sale4.87432,8542,107,9990May 12 07:12 PM
Metz MauricioExecutive Vice PresidentMay 05 '26Sale4.692,0009,38039,536May 08 04:34 PM

Held by

AUM
TickerCompanyAUM
ILFiShares Latin America 40 ETFAUM: 3.38B
AVEMAvantis Emerging Markets Equity ETFAUM: 26.77B
SPEMState Street SPDR Portfolio Emerging Markets ETFAUM: 16.35B
MFSIMFS Active International ETFAUM: 1.28B
JIVEJPMorgan International Value ETFAUM: 4.70B
VEUVanguard FTSE All-World ex-US ETFAUM: 66.74B
DFEMDimensional Emerging Markets Core Equity 2 ETFAUM: 8.86B
SLXVanEck Steel ETFAUM: 149.91M
DFAEDimensional Emerging Core Equity Market ETFAUM: 9.14B
DFAXDimensional World ex U.S. Core Equity 2 ETFAUM: 12.02B

News

latest 14 of 200

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-10-270.1480.1720.1483,5003,6353
2026Q22026-08-040.1450.1470.1463,4803,4154
2026Q12026-04-280.1020.1240.0973,3353,3555
2025Q42026-02-23-0.1280.074-0.1223,2943,1525
2025Q32025-10-300.1000.1140.0993,3393,3185
2025Q22025-07-310.0760.0870.0753,1583,2115
2025Q12025-04-290.0660.0870.0633,0782,9115
2024Q42025-03-110.0260.0540.0272,8882,8566
2024Q32024-11-050.1120.1130.1153,0383,0765
2024Q22024-07-310.0740.0820.0782,9333,0334
2024Q12024-05-020.1890.1000.1633,1973,1894
2023Q42024-02-210.0610.0950.0552,9833,1134
2023Q32023-11-070.1630.1540.1533,5053,3895
2023Q22023-08-090.2110.2300.204--6
2023Q12023-05-030.2921.3120.2923,76618,5056
2022Q42023-03-010.143-0.1103,459-7

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2018FY0.2830.2860.29412,27412,383
2019FY0.1000.1700.1429,0649,451
2020FY0.2050.2240.2138,0827,974
2021FY1.4151.2251.33015,58014,118
2022FY1.1421.1411.03315,86716,082
2023FY0.7050.7610.71113,96414,152
2024FY0.3740.4030.40411,50611,551
2025FY0.1340.3390.13413,55913,061
2026FY-0.553--13,438
2027FY-0.626--13,992
2028FY-0.596--14,331
2029FY-0.678--16,645

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-093113,3173,1683,429
2026Q4S2026-10-273213,3173,1683,429
2026Q4S2026-10-263213,3173,1683,430
2026Q4S2026-10-153213,3173,1683,430
2026Q4S2026-09-033213,3323,2523,430
2026Q4S2026-08-263213,3163,2033,430
2026Q4S2026-08-213113,2873,2033,345
2026Q4S2026-08-153103,3323,2033,447
2026Q4S2026-08-053203,3323,2033,447
2026Q4S2026-07-133203,3323,2033,447
2026Q4S2026-07-093203,3413,2033,473
2026Q4S2026-06-243113,3123,1173,473
2026Q4S2026-06-013103,3463,2213,473
2026Q4S2026-04-283013,3313,2213,473

Estimate history

EPS, annual-0.0520.2940.1420.2131.331.0330.7110.4040.1230.2739
Period201720182019202020212022202320242025TTM
EPS, quarterly0.1150.0270.0630.0750.099-0.1220.0970.1460.154
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual11563.51212624.73210049.8038494.23714518.61915957.39413797.41712433.18512504.34313501.15
Period201720182019202020212022202320242025TTM
Sales, quarterly3133.6712881.652971.2153092.1573300.4043146.3233180.1373536.4643638.221
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual1433.0341416.5371420.0361422.8341428.6111375.4561378.7961322.431257.781244.981
Period201720182019202020212022202320242025MRQ
Shares, quarterly1364.991322.431310.61279.6711267.1111257.781225.1291246.171244.981
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue13,501.1512,504.3412,433.1813,797.4215,957.3914,518.628,494.2410,049.8012,624.73
Cost of Goods Sold Incl. D&A11,509.9811,078.2010,726.0211,528.6012,326.6510,660.827,344.498,984.2710,942.86
Gross Profit1,991.161,426.141,707.172,268.813,630.753,857.801,149.741,065.541,681.87
Selling, General and Administrative Excl. Other772.37733.08420.22444.13423.60390.20388.98367.96454.78
Other Operating Expense0.000.000.000.000.00-257.830.000.000.00
Operating Income1,218.79693.061,286.951,824.693,207.153,725.42760.76697.581,227.09
Interest Expense234.65242.92147.83168.19186.78196.41198.22237.81383.34
Unusual Expense3.718.1738.553.00-7.5745.7346.543.83-8.78
Net Income Before Taxes895.22434.75777.391,705.552,847.743,682.67648.12428.87700.66
Income Taxes374.67197.97160.39362.30847.99873.51214.73116.06-46.21
Consolidated Net Income547.37253.89853.111,508.942,222.772,883.32462.97308.48636.27
Net Income From Continuing Operations540.24248.27847.031,501.852,212.312,871.31458.64305.15630.11
Net Income540.24248.27847.031,501.852,212.312,871.31458.64305.15630.11
EPS (Recurring)0.280.130.420.711.031.340.230.140.29
EPS (Basic, Before Extraordinaries)0.280.120.410.721.041.340.210.140.29
EPS (Diluted)0.270.120.400.711.031.330.210.140.29
EBITDA1,928.691,352.401,866.852,434.753,762.224,218.101,245.251,223.421,744.51
Non-Operating Income (Expense)-85.22-7.22-323.1852.04-180.20199.38132.12-27.07-151.87
Other After Tax Adjustments0.000.000.000.000.000.000.000.000.00
Stock Option Compensation Expense17.5317.6318.6618.9813.387.998.047.34-
Price To Earnings Ratio16.6816.686.975.293.502.7516.1424.429.27
Price To Sales Ratio0.690.590.490.620.590.580.940.830.51
Gross Margin14.7511.4113.7316.4422.7526.5713.5410.6013.32
Operating Margin9.035.5410.3513.2220.1025.668.966.949.72
Net Margin4.001.996.8110.8913.8619.785.403.044.99
Shares Outstanding1,244.981,257.781,322.431,378.801,375.461,428.611,422.831,420.041,416.54
Market Capitalization5,714.465,714.463,847.655,571.705,954.125,274.374,795.735,022.033,844.14

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue3,638.223,536.463,180.143,146.323,300.403,092.162,971.222,881.65
Cost of Goods Sold Incl. D&A2,985.942,976.592,743.732,803.732,907.272,733.902,638.352,535.63
Gross Profit652.28559.88436.41342.60393.13358.26332.86346.02
Selling, General and Administrative Excl. Other106.21102.36104.69459.1094.0398.7293.51134.65
Other Operating Expense0.000.000.000.000.000.000.000.00
Operating Income546.07457.51331.71-116.51299.10259.54239.36211.37
Interest Expense56.1953.2553.7071.5065.7762.4744.2837.65
Unusual Expense1.113.063.61-4.075.271.295.40-3.05
Net Income Before Taxes439.04389.85272.32-205.99247.25198.34182.7649.22
Income Taxes140.52110.5495.1428.4763.5250.4854.767.32
Consolidated Net Income304.27290.12192.79-239.81200.02152.53129.5955.32
Net Income From Continuing Operations302.53287.69190.64-240.62198.10151.08128.1654.13
Net Income302.53287.69190.64-240.62198.10151.08128.1654.13
EPS (Recurring)0.150.150.10-0.120.100.080.060.03
EPS (Basic, Before Extraordinaries)0.150.150.10-0.120.100.080.060.03
EPS (Diluted)0.150.150.10-0.120.100.080.060.03
EBITDA728.64639.73503.3956.92471.17424.78388.78354.04
Non-Operating Income (Expense)-49.73-11.35-2.08-22.0519.192.56-6.92-127.55
Other After Tax Adjustments0.000.000.000.000.000.000.000.00
Stock Option Compensation Expense4.384.634.973.564.594.814.624.28
Price To Earnings Ratio16.6827.0431.1713.9711.0510.307.396.97
Price To Sales Ratio0.690.610.560.580.510.490.480.47
Gross Margin17.9315.8313.7210.8911.9111.5911.2012.01
Operating Margin15.0112.9410.43-3.709.068.398.067.34
Net Margin8.328.145.99-7.656.004.894.311.88
Shares Outstanding1,244.981,246.171,225.131,257.781,267.111,279.671,310.601,322.43
Market Capitalization5,714.465,021.284,512.794,628.963,923.273,756.873,684.703,847.65

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments1,163.341,339.761,100.081,029.401,218.471,474.401,564.77864.251,018.01
Short Term Receivables1,237.951,172.671,414.761,365.911,491.861,153.24909.781,077.121,253.57
Inventories2,688.282,671.633,134.843,374.703,027.201,765.321,904.132,365.402,020.26
Other Current Assets130.58104.09361.10150.23122.52232.55154.53209.281,129.19
Total Current Assets5,220.145,288.156,010.775,920.255,860.054,625.524,533.204,516.055,421.03
Net Property, Plant & Equipment5,823.684,979.084,953.724,050.123,519.483,478.544,146.174,011.224,957.26
Total Investments and Advances747.36743.111,219.231,083.84897.69788.85945.66904.581,019.96
Long-Term Note Receivable---0.000.4825.8723.737.21163.69
Intangible Assets2,315.272,307.222,305.432,282.232,322.672,450.062,521.332,566.852,671.98
Deferred Tax Assets467.54392.96456.90409.96525.91534.621,012.06999.56920.80
Other Assets333.29342.01470.02231.28125.88249.14242.40225.789.64
Total Assets14,907.2814,052.5415,416.0813,977.6813,252.1712,152.6013,424.5613,231.2515,164.38
Short Term Debt Incl. Current Port. of LT Debt242.42188.70446.88643.42366.53320.21438.70470.86604.24
Accounts Payable914.22925.581,214.841,253.641,439.341,046.93935.381,062.78958.65
Income Tax Payable52.9056.04103.5094.18154.96155.9750.98102.0982.36
Other Current Liabilities594.83586.18557.87558.61559.24687.47420.59558.49680.31
Total Current Liabilities1,804.361,756.502,323.082,549.852,520.072,210.571,845.662,194.222,325.56
Long Term Debt2,599.192,225.922,058.661,939.672,318.943,216.783,751.063,375.294,372.87
Provision for Risks Charges535.49532.18673.35595.11628.40617.00579.37567.40698.13
Deferred Tax Liabilities64.5726.4142.0318.2517.7711.85128.6230.5424.93
Other Liabilities85.9895.03182.50105.7980.17111.79364.90371.27539.63
Total Liabilities5,089.594,636.035,279.625,208.675,565.346,167.996,669.616,538.727,961.12
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.000.00
Common Equity9,778.809,380.0910,099.428,734.547,648.885,941.296,700.906,638.877,128.27
Total Shareholders Equity9,778.809,380.0910,099.428,734.547,648.885,941.296,700.906,638.877,128.27
Accumulated Minority Interest38.8936.4237.0434.4737.9543.3154.0553.6674.99
Total Equity9,817.699,416.5110,136.468,769.017,686.835,984.606,754.956,692.537,203.26
Total Liabilities & Stockholders Equity14,907.2814,052.5415,416.0813,977.6813,252.1712,152.6013,424.5613,231.2515,164.38
Book Value Per Share4.954.604.814.173.562.773.133.113.31
Tangible Book Value Per Share5.935.355.654.693.732.452.942.873.11
Full-Time Employees25,81725,55727,37128,19727,73924,61324,78724,542-
Price to Book Ratio0.850.590.841.001.041.221.130.870.73
Return on Assets1.715.7510.2216.2522.603.592.294.44-0.70
Return on Equity2.598.7015.9527.0142.267.264.589.15-1.55
Return on Invested Capital2.017.3012.3520.7328.815.012.926.29-0.98
Quick Ratio1.401.491.241.001.121.291.420.981.46
Current Ratio2.893.012.592.322.332.092.462.062.33

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Net Income560.92253.89853.111,508.942,222.772,883.32462.97308.48636.27
Depreciation712.32659.34579.91610.07555.08492.67484.49525.84517.42
Other Funds (Non Cash)453.77385.6136.34-141.2594.6412.84-4.5618.79312.31
Funds from Operations1,746.821,274.551,390.681,952.012,985.133,451.59969.63908.231,247.70
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-109.16109.86331.74140.81-796.34-1,240.43136.82308.05-732.91
Cash from Operating Activities1,637.661,384.411,722.422,092.822,188.782,211.161,106.451,216.28514.79
Capital Expenditures-958.12-1,226.63-1,103.04-1,068.36-867.70-591.59-349.94-468.19-345.25
Net Assets From Acquisitions-58.490.00-120.13-104.94-5.18-5.10-8.29--
Sale of Fixed Assets and Businesses4.3212.48289.3217.559.3641.4611.8810.681,099.82
Purchase or Sale of Investments-22.50-141.510.000.000.000.000.00-24.00-102.69
Purchase of Investments-22.50-141.510.000.000.000.000.00-24.00-102.69
Sale Or Maturity of Investments0.000.000.000.000.000.000.000.000.00
Other Uses16.270.000.000.000.000.00-85.790.000.00
Other Sources0.000.000.000.000.000.000.000.000.00
Cash from Investing Activities-1,018.53-1,355.65-933.85-1,155.75-863.52-555.23-432.15-481.51651.89
Cash Dividends Paid-295.08-230.13-307.26-537.22-1,140.80-989.480.000.00-163.86
Change in Capital Stock-101.88-209.30-221.620.00-207.790.000.000.00-66.57
Repurchase of Common Pref Stock-101.88-209.30-221.620.00-207.790.000.000.00-66.57
Sale of Common Pref Stock0.000.000.000.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.000.000.000.00
Issuance or Reduction of Debt, Net-219.56120.28-211.02-181.59-835.21-380.62177.57-940.75
Net Financing Active Other Cash Flow0.000.00-4.640.02-8.4125.86-54.79-138.997.04
Other Financing Activities Uses0.000.00-4.640.00-8.940.00-54.79-138.990.00
Cash from Financing Activities-1,345.73-307.18-498.47-825.93-1,598.66-1,849.95-483.46-2.43-1,164.13
Exchange Rate Effect3.87-95.99204.51-142.28-23.070.9856.324.5056.90
Net Change in Cash-722.73-374.41494.61-31.14-296.47-193.04247.16736.8459.44
Free Cash Flow712.60188.43650.561,049.921,357.751,650.39786.42773.51169.54
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.000.000.00
Price to Free Cash Flow22.28-17.6116.6543.4012.7610.1610.831,125.33
Deferred Taxes & Investment Tax Credit--2.40-54.72-0.17129.7475.5038.6955.12-218.30

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments1,168.241,051.111,070.451,163.341,854.001,644.21
Short Term Receivables1,410.811,405.041,382.911,237.951,415.421,389.01
Inventories3,187.643,110.462,908.942,688.282,867.772,939.34
Other Current Assets157.31120.97109.51130.58134.51130.00
Total Current Assets5,923.995,687.585,471.815,220.146,271.696,102.56
Net Property, Plant & Equipment6,326.236,237.156,129.525,823.686,059.395,881.01
Total Investments and Advances709.77747.85769.65747.36826.74790.53
Intangible Assets2,427.802,312.522,309.732,315.272,378.632,322.19
Deferred Tax Assets491.53500.49490.21467.54442.34420.31
Other Assets347.84351.64349.62333.29405.57397.01
Total Assets16,227.1615,837.2315,520.5514,907.2816,384.3615,913.61
Short Term Debt Incl. Current Port. of LT Debt205.95214.05264.81242.42694.21543.01
Accounts Payable1,267.591,194.361,139.90914.221,032.401,020.06
Income Tax Payable28.5775.1982.4952.9034.4916.05
Other Current Liabilities541.89498.20496.81594.83558.56531.97
Total Current Liabilities2,044.001,981.801,984.011,804.362,319.662,111.09
Long Term Debt2,786.512,716.902,679.452,599.193,059.263,033.38
Provision for Risks Charges599.02592.18558.50535.49571.69564.89
Deferred Tax Liabilities79.3377.2370.7464.5756.488.51
Other Liabilities115.8187.5083.7685.9898.8895.75
Total Liabilities5,624.675,455.615,376.455,089.596,105.985,813.62
Non-Equity Reserves0.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.00
Common Equity10,565.1310,344.8710,105.899,778.8010,241.0410,063.11
Total Shareholders Equity10,565.1310,344.8710,105.899,778.8010,241.0410,063.11
Accumulated Minority Interest37.3536.7538.2138.8937.3436.87
Total Equity10,602.4810,381.6210,144.109,817.6910,278.3810,099.99
Total Liabilities & Stockholders Equity16,227.1615,837.2315,520.5514,907.2816,384.3615,913.61
Book Value Per Share5.395.275.204.955.165.04
Tangible Book Value Per Share6.546.456.365.936.206.05
Full-Time Employees---25,817--
Price to Book Ratio0.850.780.730.720.620.61
Return on Assets3.312.751.961.633.383.75
Return on Equity5.194.273.012.475.215.77
Return on Invested Capital2.272.201.49-1.941.491.15
Quick Ratio1.341.301.291.401.471.50
Current Ratio2.902.872.762.892.702.89

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Net Income303.34292.02192.79-227.23201.09151.79
Depreciation181.82184.81171.68174.00174.83164.57
Other Funds (Non Cash)126.11-63.03132.66258.03119.67-42.09
Funds from Operations614.02405.93497.83229.04461.36257.74
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital-85.72-110.99-244.25331.8060.32-74.49
Cash from Operating Activities528.30294.94253.58560.84521.68183.25
Capital Expenditures-222.92-221.95-229.28-283.97-329.51-299.50
Net Assets From Acquisitions-58.490.000.000.00132.18-42.92
Sale of Fixed Assets and Businesses1.601.040.820.866.482.86
Purchase or Sale of Investments0.00-0.020.00-22.49-119.770.00
Purchase of Investments0.00-0.020.00-22.49-119.770.00
Sale Or Maturity of Investments0.000.000.000.000.000.00
Other Uses0.000.02-0.0216.27-16.270.00
Other Sources0.000.000.000.000.000.00
Cash from Investing Activities-279.82-220.91-228.47-289.33-326.89-339.56
Cash Dividends Paid-82.79-71.97-35.58-104.74-46.23-45.72
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock-5.98-21.60-39.27-35.04-41.38-85.95
Repurchase of Common Pref Stock-5.98-21.60-39.27-35.04-41.38-85.95
Sale of Common Pref Stock0.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.00
Issuance or Reduction of Debt, Net-24.6110.98-41.58-795.49107.91704.00
Net Financing Active Other Cash Flow0.000.000.000.000.000.00
Other Financing Activities Uses0.000.000.000.000.000.00
Cash from Financing Activities-138.52-109.22-137.62-960.37-1.64551.55
Exchange Rate Effect0.11-5.04-45.3354.14-38.99-42.70
Net Change in Cash110.07-40.23-157.85-634.72154.17352.55
Free Cash Flow314.9680.6631.38285.61201.35-109.05
Price to Free Cash Flow22.2823.4440.25--35.42

Revenue breakdown

Brazil2024: 5.45B 2025: 5.10B
North America2024: 5.93B 2025: 6.40B
South America Countries Excluding Brazil2024: 1.07B 2025: 995.29M
Brazil Operation2024: 5.61B 2025: 5.31B
Consolidation, Policy2024: -163.67M 2025: -210.85M
North America Operation2024: 5.93B 2025: 6.40B
South America Operation2024: 1.07B 2025: 995.29M

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-302.86%35.7M1245.0M13.58M
2026-10-153.30%40.9M1239.2M12.56M
2026-09-303.29%40.8M1239.2M13.01M
2026-09-153.49%43.2M1239.2M13.94M
2026-08-312.91%36.1M1239.2M15.20M
2026-08-142.80%34.8M1239.2M16.24M
2026-07-312.96%36.6M1239.2M17.37M
2026-07-151.91%23.7M1242.9M17.98M
2026-06-301.90%23.6M1242.9M18.77M
2026-06-152.40%29.8M1242.9M19.11M
2026-05-290.68%8.4M1242.9M18.94M
2026-05-150.44%5.5M1242.9M18.38M
2026-04-300.49%6.1M1242.9M21.29M
2026-04-150.45%5.6M1250.1M21.55M
2026-03-310.35%4.4M1250.1M20.15M
2026-03-130.08%1.0M1250.1M18.57M
2026-02-270.12%1.5M1250.1M17.39M
2026-02-130.38%4.8M1257.8M17.26M
2026-01-302.09%26.2M1254.5M13.79M
2026-01-152.03%25.5M1254.5M14.87M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call2.501.702.151.652.78333.000.000.887-0.0350.001
call5.000.000.200.051.23111910.000.371-0.0190.003
call7.500.000.050.001.9210.000.000.085-0.0120.001
call10.000.000.700.002.8770.000.000.065-0.0150.001
put2.500.000.250.104.5595.000.00-0.112-0.0350.001
put5.000.000.700.611.59613.000.00-0.628-0.0190.003
put7.502.003.803.105.7022.000.00-0.915-0.0120.001
put10.004.406.305.606.8440.000.00-0.934-0.0140.001

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-10-276-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-10-27SEC
2026-10-266-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-10-26SEC
2026-10-266-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-10-26SEC
2026-10-266-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-10-26SEC
2026-10-266-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-10-23SEC
2026-09-254Statement of changes in beneficial ownership of securities2026-09-23SEC
2026-09-214Statement of changes in beneficial ownership of securities2026-09-17SEC
2026-09-016-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-31SEC
2026-08-273/A2026-05-05SEC
2026-08-274Statement of changes in beneficial ownership of securities2026-07-15SEC
2026-08-144Statement of changes in beneficial ownership of securities2026-06-08SEC
2026-08-143/A2026-08-06SEC
2026-08-124Statement of changes in beneficial ownership of securities2026-08-10SEC
2026-08-104Statement of changes in beneficial ownership of securities2026-08-06SEC
2026-08-066-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-06SEC
2026-08-056-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-05SEC
2026-08-046-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-04SEC
2026-08-046-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-04SEC
2026-08-046-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-08-04SEC
2026-07-216-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-07-20SEC
2026-06-154Statement of changes in beneficial ownership of securities2026-06-12SEC
2026-06-156-KCurrent report of foreign issuer pursuant to Rules 13a-16 and 15d-162026-06-15SEC
2026-06-034Statement of changes in beneficial ownership of securities2026-06-02SEC
2026-06-034Statement of changes in beneficial ownership of securities2026-06-02SEC
2026-06-033/A2026-06-02SEC
2026-05-284Statement of changes in beneficial ownership of securities2026-05-26SEC
2026-05-264Statement of changes in beneficial ownership of securities2026-05-22SEC
2026-05-26SDSpecialized Disclosure ReportSEC
2026-05-224Statement of changes in beneficial ownership of securities2026-05-19SEC
2026-05-154Statement of changes in beneficial ownership of securities2026-05-13SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-0900686.56K2
2026-0800541.05K2
2026-070000
2026-06781.51K1225.93K3
2026-05002.42M7
2026-04001.71M11
2026-0300281.65K1
2026-020000
2026-010000
2025-120000
2025-110000

Institutional holders

Manager% owned
ACADIAN ASSET MANAGEMENT LLC3.72%
Ninety One UK Ltd2.49%
Capital World Investors2.16%
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC2.07%
CONTRARIAN CAPITAL MANAGEMENT, L.L.C.1.53%
BlackRock, Inc.1.47%
DONALD SMITH & CO., INC.1.41%
Aquamarine Financial1.35%
MACKENZIE FINANCIAL CORP1.29%
TWO SIGMA INVESTMENTS, LP1.24%

Funds

Fund% owned
New Perspective Fund1.62%
iShares Latin America 40 ETF0.61%
Avantis Emerging Markets Equity ETF0.54%
VANGUARD SELECTED VALUE FUND0.43%
Strategic Advisers Fidelity Emerging Markets Fund0.38%
Fidelity Series Emerging Markets Fund0.27%
MFS International New Discovery Fund0.27%
State Street(R) SPDR(R) Portfolio Emerging Markets ETF0.25%
DIMENSIONAL EMERGING MARKETS VALUE FUND0.22%
Strategic Advisers Emerging Markets Fund0.22%

OakChart. GGB. Cached 15 minutes.