Gerdau S.A. (GGB) Financial Ratios
28 years of historical data (1998–2025) · Basic Materials · Steel
EV/EBITDA
↑
5.55
↑+338% vs avg
5yr avg: 1.27
30Y Low0.7·High22.2
P/FCF
↑
33.06
↑+1516% vs avg
5yr avg: 2.05
30Y Low0.4·High31.1
P/B Ratio
↓
0.80
↑+434% vs avg
5yr avg: 0.15
30Y Low0.1·High0.9
ROE
↓
2.5%
↑-87% vs avg
5yr avg: 18.9%
30Y Low-14%·High47%
Debt/EBITDA
↑
1.64
↑+49% vs avg
5yr avg: 1.10
30Y Low0.6·High22.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GGB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Gerdau S.A. trades at 31.2x earnings, 1641% above its 5-year average of 1.8x, sitting at the 100th percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.6x, the stock trades at a premium of 32%. On a free-cash-flow basis, the stock trades at 33.1x P/FCF, 1516% above the 5-year average of 2.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.4B | $7.4B | $6.0B | $8.5B | $8.1B | $7.0B | $6.6B | $6.9B | $5.3B | $5.3B | $4.5B |
| Enterprise Value | $10.2B | $17.1B | $13.2B | $17.7B | $19.3B | $17.8B | $20.4B | $21.2B | $17.3B | $19.2B | $20.0B |
| P/E Ratio → | 31.22 | 5.35 | 1.32 | 1.14 | 0.71 | 0.45 | 2.77 | 5.72 | 2.27 | — | — |
| P/S Ratio | 0.62 | 0.11 | 0.09 | 0.12 | 0.10 | 0.09 | 0.15 | 0.18 | 0.11 | 0.14 | 0.12 |
| P/B Ratio | 0.80 | 0.14 | 0.10 | 0.17 | 0.18 | 0.16 | 0.21 | 0.26 | 0.20 | 0.22 | 0.18 |
| P/FCF | 33.06 | 5.68 | 1.11 | 1.47 | 1.22 | 0.75 | 1.44 | — | 7.20 | 4.55 | 2.09 |
| P/OCF | 5.40 | 0.93 | 0.53 | 0.77 | 0.73 | 0.56 | 1.03 | 4.22 | 2.65 | 2.55 | 1.27 |
P/E links to full P/E history page with 30-year chart
GGB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Gerdau S.A.'s enterprise value stands at 5.5x EBITDA, 338% above its 5-year average of 1.3x. The Basic Materials sector median is 11.0x, placing the stock at a 50% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.24 | 0.20 | 0.26 | 0.23 | 0.23 | 0.47 | 0.53 | 0.38 | 0.52 | 0.53 |
| EV / EBITDA | 5.55 | 1.79 | 1.39 | 1.47 | 0.95 | 0.72 | 2.44 | 4.02 | 2.92 | 6.03 | 22.22 |
| EV / EBIT | 9.05 | 3.04 | 2.11 | 1.74 | 1.15 | 0.83 | 4.52 | 8.10 | 5.19 | 15.04 | — |
| EV / FCF | — | 13.06 | 2.43 | 3.05 | 2.90 | 1.91 | 4.43 | — | 23.50 | 16.52 | 9.35 |
GGB Profitability
Margins and return-on-capital ratios measuring operating efficiency
Gerdau S.A. earns an operating margin of 8.4%, roughly in line with the Basic Materials sector average. Operating margins have compressed from 13.1% to 8.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 2.5% is modest. ROIC of 6.8% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.4% | 11.4% | 13.7% | 16.4% | 22.8% | 26.6% | 13.5% | 10.6% | 13.3% | 9.8% | 9.2% |
| Operating Margin | 8.4% | 8.4% | 9.5% | 13.1% | 21.1% | 28.2% | 13.4% | 8.0% | 8.8% | 3.0% | -4.3% |
| Net Profit Margin | 2.0% | 2.0% | 6.8% | 10.9% | 13.9% | 19.8% | 5.4% | 3.1% | 5.0% | -0.9% | -7.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.5% | 2.5% | 8.5% | 15.7% | 25.6% | 41.9% | 8.1% | 4.6% | 9.3% | -1.4% | -10.3% |
| ROA | 1.6% | 1.6% | 5.6% | 10.1% | 15.5% | 22.6% | 4.0% | 2.3% | 4.6% | -0.6% | -4.6% |
| ROIC | 6.8% | 6.8% | 7.7% | 11.7% | 23.4% | 33.6% | 10.2% | 6.0% | 8.0% | 2.1% | -2.7% |
| ROCE | 7.9% | 7.9% | 9.1% | 14.6% | 28.9% | 39.6% | 11.9% | 7.1% | 9.5% | 2.5% | -3.0% |
GGB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Gerdau S.A. carries a Debt/EBITDA ratio of 1.6x, which is manageable (33% below the sector average of 2.4x). Net debt stands at $9.6B ($15.6B total debt minus $5.9B cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.26 | 0.25 | 0.30 | 0.35 | 0.59 | 0.62 | 0.57 | 0.69 | 0.85 |
| Debt / EBITDA | 1.64 | 1.64 | 1.58 | 1.01 | 0.68 | 0.61 | 2.20 | 3.21 | 2.51 | 5.17 | 22.88 |
| Net Debt / Equity | — | 0.18 | 0.12 | 0.19 | 0.24 | 0.25 | 0.44 | 0.52 | 0.46 | 0.58 | 0.64 |
| Net Debt / EBITDA | 1.01 | 1.01 | 0.75 | 0.76 | 0.55 | 0.44 | 1.65 | 2.70 | 2.02 | 4.37 | 17.25 |
| Debt / FCF | — | 7.38 | 1.32 | 1.58 | 1.68 | 1.16 | 2.99 | — | 16.30 | 11.98 | 7.26 |
| Interest Coverage | — | — | 7.86 | 60.57 | 90.07 | 108.61 | 22.79 | 10.99 | 2.11 | 0.74 | -0.52 |
GGB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Gerdau S.A.'s current ratio of 2.89x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.40x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.59x to 2.89x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.89 | 2.89 | 3.01 | 2.59 | 2.32 | 2.33 | 2.04 | 2.46 | 2.06 | 2.33 | 2.06 |
| Quick Ratio | 1.40 | 1.40 | 1.49 | 1.24 | 1.00 | 1.12 | 1.24 | 1.42 | 0.98 | 1.46 | 1.33 |
| Cash Ratio | 0.64 | 0.64 | 0.76 | 0.47 | 0.40 | 0.48 | 0.67 | 0.85 | 0.39 | 0.44 | 0.71 |
| Asset Turnover | — | 0.86 | 0.77 | 0.92 | 1.12 | 1.06 | 0.69 | 0.73 | 0.90 | 0.73 | 0.69 |
| Inventory Turnover | 4.20 | 4.20 | 3.50 | 3.78 | 3.57 | 3.41 | 4.13 | 4.63 | 4.36 | 4.97 | 5.40 |
| Days Sales Outstanding | — | 25.13 | 39.45 | 25.82 | 22.14 | 25.22 | 49.90 | 33.70 | 33.01 | 36.47 | 45.61 |
GGB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Gerdau S.A. returns 5.7% to shareholders annually — split between a 3.0% dividend yield and 2.7% buyback yield. The payout ratio of 92.7% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 3.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.0% | 17.3% | 27.4% | 31.4% | 72.5% | 76.4% | 4.1% | 7.0% | 11.3% | 1.6% | 1.9% |
| Payout Ratio | 92.7% | 92.7% | 36.3% | 35.8% | 51.6% | 34.5% | 11.6% | 39.8% | 25.8% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 18.7% | 75.7% | 87.9% | 140.7% | 222.8% | 36.1% | 17.5% | 44.0% | — | — |
| FCF Yield | 3.0% | 17.6% | 89.9% | 68.0% | 82.1% | 133.5% | 69.5% | — | 13.9% | 22.0% | 47.9% |
| Buyback Yield | 2.7% | 15.8% | 19.8% | 0.0% | 13.2% | 0.0% | 0.0% | 0.0% | 4.6% | 0.0% | 2.1% |
| Total Shareholder Yield | 5.7% | 33.1% | 47.2% | 31.4% | 85.7% | 76.4% | 4.1% | 7.0% | 15.9% | 1.6% | 4.1% |
| Shares Outstanding | — | $2.0B | $2.1B | $2.1B | $1.8B | $1.8B | $1.8B | $1.8B | $1.8B | $1.8B | $1.8B |
Peer Comparison
Compare GGB with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GGBYou | $8B | 31.2 | 5.5 | 33.1 | 11.4% | 8.4% | 2.5% | 6.8% | 1.6 |
 NUE | $56B | 32.4 | 14.6 | — | 11.9% | 8.2% | 8.0% | 7.7% | 1.7 |
 STLD | $36B | 31.3 | 19.6 | 72.2 | 13.0% | 8.1% | 13.3% | 9.2% | 2.1 |
 CLF | $7B | -4.1 | — | — | -4.6% | -7.5% | -22.4% | -7.5% | — |
 RS | $20B | 28.4 | 16.9 | 40.3 | 26.8% | 7.2% | 10.3% | 8.9% | 1.5 |
 CMC | $8B | 97.8 | 10.4 | 25.7 | 15.6% | 6.7% | 2.0% | 8.5% | 1.7 |
 WS | $2B | 18.6 | 10.4 | 20.2 | 12.6% | 4.8% | 9.6% | 8.2% | 1.1 |
 ZEUS | $533M | 24.3 | 10.6 | 127.1 | 23.2% | 2.5% | 4.1% | 4.3% | 4.0 |
 SXC | $733M | -16.6 | 6.0 | 17.3 | 7.1% | 3.5% | -6.6% | 4.3% | 3.1 |
 CAT | $459B | 52.4 | 36.5 | 44.6 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 VMC | $39B | 37.3 | 19.1 | 34.6 | 27.3% | 20.1% | 13.0% | 8.8% | 2.3 |
| Basic Materials Median | — | 23.6 | 11.0 | 29.0 | 30.9% | 10.3% | -0.0% | 4.6% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
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GGB — Frequently Asked Questions
Quick answers to the most common questions about buying GGB stock.
What is Gerdau S.A.'s P/E ratio?
Gerdau S.A.'s current P/E ratio is 31.2x. The historical average is 3.7x. This places it at the 100th percentile of its historical range.
What is Gerdau S.A.'s EV/EBITDA?
Gerdau S.A.'s current EV/EBITDA is 5.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.3x.
What is Gerdau S.A.'s ROE?
Gerdau S.A.'s return on equity (ROE) is 2.5%. The historical average is 14.3%.
Is GGB stock overvalued?
Based on historical data, Gerdau S.A. is trading at a P/E of 31.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Gerdau S.A.'s dividend yield?
Gerdau S.A.'s current dividend yield is 2.97% with a payout ratio of 92.7%.
What are Gerdau S.A.'s profit margins?
Gerdau S.A. has 11.4% gross margin and 8.4% operating margin.
How much debt does Gerdau S.A. have?
Gerdau S.A.'s Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.