Gerdau S.A. (GGB)

NYSE: GGB · Steel Works, Blast Furnaces & Rolling & Finishing Mills · filing with the SEC since 2000

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Grade4.8

◀ Past 6.3● Present 4.3▶ Future 3.8

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Gerdau S.A.

Nine metrics read from its own filings, by tense

Headline grade

4.8/10

◀ Past6.330% of the headline

● Present4.340% of the headline

▶ Future3.830% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.3/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

7.1/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 33% of this tense · 71st percentile among 31 sector filers · read for itself

From the record

Gerdau S.A.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

5.7/10

What has it actually done, year after year?

+7.1% a year over 10 filed years; profitable in 8 of 10.

weight 45% of this tense · 57th percentile among 29 sector filers · read for its customers

From the record

Gerdau S.A.'s 10 filed years say what it did: revenue went from BRL 38 billion in fiscal 2016 to BRL 70 billion in fiscal 2025, up 7.1% a year; it rose in 5 of 9 years; the deepest fall was 19% from fiscal 2022 to fiscal 2024; net income was positive in 8 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span7.1%top 45% of its family
the share of years revenue rosebottom 40% of its family
the share of filed years with a profittop 39% of its family
the deepest fall from a revenue peak18.7%top 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

6.5/10

How has it treated the people who own it?

SI estimate 6.5/10, confidence 35 of 100 (one part).

weight 22% of this tense · 65th percentile among 30 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the cash returned against operating cash flow, which ranks in the top 35% of 30 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: cash returned against operating cash flow, the one part on file, ranked among 30 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Gerdau S.A.'s shareholder treatment is put at 6.5 of 10 with a confidence of 35 of 100, because read from one part only, the cash returned against operating cash flow, which ranks in the top 35% of 30 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

4.4/10

Is it financially healthy right now?

ROE 3%: 3¢ of profit per shareholder dollar. Leverage 34%: owes 34¢ per asset dollar.

weight 45% of this tense · 44th percentile among 30 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Gerdau S.A. earned about 3 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 10 cents per dollar of everything the company owns. Leverage: it owed about 34 cents per dollar of assets (the filed statements).

What it rests on

what it owes per dollar of assetstop 25% of its family
return on equitybottom 43% of its family
gross profit against assetsbottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

3.5/10

How strong is its position in its industry?

bottom 35% of 28 in its family; net margin 2%.

weight 33% of this tense · 35th percentile among 28 sector filers · read for its customers

From the record

Gerdau S.A.'s standing among 28 graded names in its industry family: revenue of BRL 70 billion in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of 2% ranks in the top 46%; revenue growth of -5.4% a year over the last 3 filed years ranks in the bottom 16% (its annual reports).

What it rests on

net margin2.0%top 46% of its family
three-year revenue growth-5.4%bottom 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.2/10

What are the people in charge doing?

SI estimate 5.2/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 24 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 24 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 24 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Gerdau S.A.'s leadership is put at 5.2 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 24 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.8/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

4.5/10

How much room does it have to grow?

bottom 45% of 27 in its family for room to expand.

weight 45% of this tense · 45th percentile among 27 sector filers · read for itself

From the record

Gerdau S.A.'s room to grow, from the newest filed statements (fiscal 2025): cash of BRL 5.9 billion against no long-term debt tagged leaves 7.3% of its assets as net cash, top 25% of its family; cash from operations less capital spending is 1.9% of revenue (bottom 31%); a gross margin of 11.4% (bottom 28%) (its annual report).

What it rests on

cash less debt against assets7.3%top 25% of its family
cash from operations less capital spending against revenue1.9%bottom 31% of its family
gross margin11.4%bottom 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.1/10

What could actually drive growth from here?

bottom 32% of 29 in its family for growth drivers.

weight 33% of this tense · 32nd percentile among 29 sector filers · read for its customers

From the record

Gerdau S.A.'s growth drivers, from the filed years to fiscal 2025: revenue grew -5.4% a year over the last three filed years against 7.1% over all 10, slowing (bottom 9% of its family); the newest year grew 4.2% (bottom 23%); capital spending grew 15.9% a year (top 37%) (its annual reports). Gerdau S.A. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-12.5 points a yearbottom 9% of its family
the newest year's revenue growth4.2%bottom 23% of its family
three-year growth of capital spending15.9%top 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

3.2/10

Did its newest year beat what its own record pointed to?

bottom 32% of 26 in its family for expectations against reality.

weight 22% of this tense · 32nd percentile among 26 sector filers · read for its shareholders

From the record

Gerdau S.A.'s newest year against its own record: revenue of BRL 70 billion in fiscal 2025 came in 15.6% above the BRL 60 billion its prior three years' pace pointed to (top 44% of its family); net income of BRL 1.4 billion against a prior three-year average of BRL 7.9 billion (bottom 24%); a net margin of 2% against 10.6% before (bottom 17%) (its annual reports).

What it rests on

revenue against the prior three years' pace15.6%top 44% of its family
net income against the prior three years' average-82%bottom 24% of its family
net margin against its prior average-8.5 pointsbottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton GGB · research, not advice