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Companhia Siderúrgica Nacional, (SID) Fair Value & Analysis

Basic Materials · AR · Market cap 19.9T ARS

CS Companhia Siderúrgica Nacional, SID · BA
Price13,670 ARS
Fair Value15,838 ARS
Upside+15.9%
Quality37/100
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Weak Growth
Loss-making · -4.5% net margin
High debt · negative free cash flow
Trails peers (4/11)
Narrow moat 15/100
Evidence: Low Range 11,871 ARS – 19,804 ARS Share as image

Fair value as of: Aug 13, 2026

From 5 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from 15,940 ARS to 15,838 ARS (−0.6%) since Jul 19, 2026. Share price −8.8% over the past month.

Below-average quality, screening 16% undervalued on our models.

What matters now

  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • Our model range runs from 11,871 ARS (bear) to 19,804 ARS (bull), base 15,838 ARS. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 37/100 (below-average quality) with low evidence: read the verdict with care.
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Price vs Fair Value (5 years)

34,303 ARS 1,810 ARS Fair Value 15,838 ARS Feb 2021 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 1,810 ARS – 34,303 ARS · fair‑value band 11,871 ARS – 19,804 ARS · the 13,670 ARS price screens below the 15,838 ARS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Companhia Siderúrgica Nacional, (SID) currently trades at 13,670 ARS, while our model-based Fair Value estimate is 15,838 ARS, implying the stock looks roughly 15.9% undervalued today. The Quality Score stands at 37/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Over the trailing twelve months, Companhia Siderúrgica Nacional, generated revenue of 44.5B ARS at a net margin of -4.5%. Revenue declined 2.8% year over year. It earns a return on equity of -8.3%. Net debt stands at 37.9B ARS. Fundamentals as of Aug 13, 2026

Our scenario range runs from 11,871 ARS (bear case) to 19,804 ARS (bull case); at 13,670 ARS, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 48% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -22% fair-value upside, at 16%, SID screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
ROIC Compounder 4,648 ARS 7,579 ARS 10,948 ARS 72
EPV 4,643 ARS 7,202 ARS 9,478 ARS 59
EV/EBIT 9,412 ARS 15,838 ARS 22,258 ARS 53
All 5 models by family
Earnings-Based
EPV 4,643 ARS 7,202 ARS 9,478 ARS 59
Multiples
EV/EBIT 9,412 ARS 15,838 ARS 22,258 ARS 53
EV/Revenue 6,653 ARS 13,725 ARS 20,798 ARS 43
Asset-Based
NCAV (Graham) 2,257 ARS 3,029 ARS 4,518 ARS 50
Economic Profit
ROIC Compounder 4,648 ARS 7,579 ARS 10,948 ARS 72

Widest divergence: Multiples (13,725 ARS) versus Asset-Based (3,029 ARS). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) 44.5B ARS
Revenue growth (YoY) -2.8%
Net margin -4.5%
Return on equity -8.3%
Free cash flow −6.9B ARS FY2025
Operating margin 2.9%
More key figures
EPS (TTM) -421.56 ARS
Net debt 37.9B ARS FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 35 · Market factors (momentum, volatility) 24

Profitability 12
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Companhia Siderúrgica Nacional, together with its subsidiaries, operates as an integrated steel producer in Brazil and internationally. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The Steel Segment offers produce and sells of flat and long steel.

Full company description

Companhia Siderúrgica Nacional, together with its subsidiaries, operates as an integrated steel producer in Brazil and internationally. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The Steel Segment offers produce and sells of flat and long steel. The Mining Segment engages in extraction, processing and marketing of iron ore, tin, limestone, and dolomite. The Logistics Segment supplies railways, port concessions, and road fleet. The Cement Segment produces and sells bagged and bulk cement, as well as aggregates, concrete, and other products. The Energy segment is involved in generation and commercialization of energy originating from renewables. It offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products including, reinforcing bars, iron rods, and laminated profiles; food and chemical packaging solutions; and carbochemical products. It also provides steel cutting services; produces and sells cement; operates railways; and generates electric power from its hydroelectric power plants. In addition, the company offers steel solutions and distributions; packaging; logistics services; and certifications. Companhia Siderúrgica Nacional was founded in 1941 and is headquartered in São Paulo, Brazil.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Companhia Siderúrgica Nacional, reported revenue of 44.8B ARS in FY2025 versus 47.9B ARS in FY2021, a compound −1.7%/yr. Reported net income was −2.0B ARS in FY2025.

Growth Quality 12/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
44.8B ARS
Latest YoY
+2.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.3%
Revenue −1.7%/yr
FY21 47.9B ARS
FY22 44.4B ARS
FY23 45.4B ARS
FY24 43.7B ARS
FY25 44.8B ARS
Net income
FY21 12.3B ARS
FY22 1.6B ARS
FY23 −318M ARS
FY24 −2.6B ARS
FY25 −2.0B ARS

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Cite: Fair Value Calculator (2026). "Companhia Siderúrgica Nacional, Fair Value". https://www.fairvalue-calculator.com/stock/SID

Peer Group

Steel · 382 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 37 · Bottom 25%
Fair Value upside +16% · Above median
Return on assets 2% · Above median
Net margin (TTM) -4% · Bottom 25%
Operating margin (TTM) 3% · Below median
Revenue growth -3% · Below median
Debt / equity 3.30× · Higher than 75% of peers

Valuation Multiples vs Steel median · lower = cheaper

P/B 1.08× · Pricier than median
P/S (TTM) 0.31× · Cheaper than median
EV/EBITDA 5.7× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 55 · sector 16
FUTURE 0 · sector 4
PAST 0 · sector 16
HEALTH 0 · sector 95
DIVIDEND 0 · sector 40

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
JSW Steel Limited JSWSTEEL ₹1,269 ₹1,140 -10%
Tata Steel Limited TATASTEEL ₹186.20 ₹145.39 -22%
Baoshan Iron & Steel Co 600019 ¥5.74 ¥8.07 +41%
China Steel Corporation 2002A 37.25 TWD 8.74 TWD -77%
POSCO Holdings 005490 325,000 KRW 155,270 KRW -52%
Jindal Steel Limited JINDALSTEL ₹1,112 ₹516.27 -54%
Lloyds Metals and Energy Limited LLOYDSME ₹1,894 ₹771.10 -59%
Gerdau S.A GGBN 83.50 MXN 39.22 MXN -53%
Ternium S.A TXR 17,780 ARS 27,472 ARS +55%
NMDC Limited NMDC ₹85.00 ₹112.98 +33%

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Frequently asked questions

Is Companhia Siderúrgica Nacional, (SID) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 15,838 ARS versus a price of 13,670 ARS, about +16% (undervalued).
What is the fair value of SID?
Our model-based fair value for Companhia Siderúrgica Nacional, is 15,838 ARS (as of Aug 13, 2026), built from audited fundamentals. The current price is 13,670 ARS.
What is the quality score of SID?
Companhia Siderúrgica Nacional, has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Companhia Siderúrgica Nacional, (SID)?
Companhia Siderúrgica Nacional, reported trailing-twelve-month revenue of about 44.5B ARS (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SID?
The net profit margin of Companhia Siderúrgica Nacional, is about -4.5%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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