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Gerdau S.A.

GGB

Gerdau S.A. • NYSE
$3.60 ▲ 0.28% (+0.01)
Market Cap $7.28 B
52w High $3.66
52w Low $2.27
Dividend Yield 0.11%
P/E 12.86
Volume 3.04M
Outstanding Shares 2.02B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $17.983B ▲ $483.343M ▼ $1.079B ▲ 6.002% ▲ $0.54 ▲ $2.732B ▲
Q2-2025 $17.526B ▲ $569.022M ▲ $856.286M ▲ 4.886% ▲ $0.43 ▲ $2.402B ▲
Q1-2025 $17.375B ▲ $565.969M ▼ $749.493M ▲ 4.314% ▲ $0.37 ▼ $2.211B ▲
Q4-2024 $16.823B ▼ $1.103B ▲ $316.023M ▼ 1.879% ▼ $1.48 ▲ $1.418B ▼
Q3-2024 $17.378B $455.148M $1.347B 7.753% $0.22 $2.807B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $9.874B ▲ $87.256B ▲ $32.518B ▲ $54.539B ▼
Q2-2025 $8.974B ▲ $86.854B ▲ $31.73B ▲ $54.923B ▼
Q1-2025 $6.87B ▼ $85.576B ▼ $29.357B ▲ $56.017B ▼
Q4-2024 $8.277B ▼ $86.814B ▲ $28.641B ▲ $57.949B ▲
Q3-2024 $8.832B $81.851B $26.335B $55.295B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.09B ▲ $2.925B ▲ $-1.73B ▲ $-103.292M ▼ $888.639M ▼ $1.162B ▲
Q2-2025 $864.497M ▲ $1.014B ▲ $-1.924B ▲ $3.172B ▲ $2.021B ▲ $-685.958M ▲
Q1-2025 $757.804M ▲ $900.86M ▼ $-2.38B ▲ $594.411M ▲ $-1.288B ▼ $-971.248M ▼
Q4-2024 $322.964M ▼ $2.787B ▼ $-2.424B ▼ $-1.418B ▼ $-306.291M ▼ $875.136M ▼
Q3-2024 $1.356B $5.828B $-1.715B $-838.185M $3.185B $4.128B

Five-Year Company Overview

Income Statement

Income Statement Gerdau’s earnings picture shows a company coming down from an unusually strong peak but still firmly profitable. Revenue and profits surged in 2021–2022, then eased back in 2023–2024 as the steel cycle cooled and margins narrowed. Even with this normalization, the business continues to earn solid operating and net profits compared with pre‑boom levels. The shift toward higher‑value special steels helps support profitability, but results remain sensitive to demand in construction, automotive, and industrial markets, as well as general steel price swings.

Balance Sheet

Balance Sheet The balance sheet looks stronger than a few years ago. Total assets have grown, and shareholders’ equity has increased meaningfully, reflecting years of accumulated profits. Debt is moderate and has trended down compared with earlier in the decade, while cash on hand has risen recently, improving liquidity. Overall, the company appears better capitalized and less stretched than in the past, giving it more flexibility to manage through future steel cycles and fund investments without overreliance on borrowing.

Cash Flow

Cash Flow Cash generation is a key strength. Operating cash flow has been consistently healthy over the last five years, even as earnings moved up and down with the cycle. Free cash flow has remained positive each year, despite steadily higher investment spending. Rising capital expenditures show Gerdau is reinvesting in its plants, technology, and growth projects while still covering these outlays from internal cash. This combination of resilient cash flow and disciplined investment supports both balance sheet stability and long‑term competitiveness.

Competitive Edge

Competitive Edge Gerdau holds a strong position in long and special steels across the Americas, helped by scale, geographic diversification between North and South America, and a heavy use of electric arc furnaces that rely on recycled scrap. Its large recycling network and partial vertical integration into mining and raw materials provide cost and supply advantages versus more traditional steelmakers. A growing focus on higher‑margin special steels and close technical collaboration with customers further differentiate the company. That said, Gerdau remains exposed to intense global competition, demand swings in cyclical end markets, and regional economic conditions, especially in Brazil.

Innovation and R&D

Innovation and R&D Innovation is a clear strategic priority. Gerdau is rolling out digital tools like private 4G/5G networks, real‑time monitoring, AI, and digital twins to improve efficiency and quality. Its R&D teams focus on advanced steel chemistries for demanding applications, often in partnership with universities and research centers. The creation of Gerdau Next adds a new layer of innovation, targeting adjacent areas such as modular construction, graphene‑enhanced materials, logistics, and renewable‑linked businesses, supported by venture investments in startups. Many of these projects are still in early or scaling stages, so their financial impact is uncertain, but they point to a company actively trying to move beyond pure commodity steel.

Summary

Overall, Gerdau looks like a cyclical business coming off a very strong upcycle but landing on a more solid foundation than in the past. Profitability has cooled from peak levels but remains healthy, supported by a stronger balance sheet and steady, robust cash flow. Competitively, the company benefits from its scrap‑based, relatively low‑emission production model, its footprint across the Americas, and its move toward higher‑value steels and services. At the same time, results will continue to be influenced by steel price cycles, construction and industrial activity, and regional macroeconomic conditions. The ongoing push into digitalization, green steel, and new business lines via Gerdau Next represents a notable opportunity for longer‑term growth and differentiation, but also carries typical execution and commercialization risks associated with new ventures.

NEWS

October 30, 2025 · 5:53 PM UTC

GERDAU S.A. - CONSOLIDATED INFORMATION

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