Companhia Siderúrgica Nacional AI Stock Analysis
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Companhia Siderúrgica Nacional (SID) AI Stock Analysis
Companhia Siderúrgica Nacional
(NYSE:SID)
Overall score is held down primarily by weak financial performance (persistent net losses, high leverage, and negative recent cash generation) and bearish technicals (below key moving averages with negative MACD). The earnings call adds support due to improving operational momentum, positive Q2 free cash flow, and deleveraging actions, but execution risks (imports, capex needs, and leverage) remain. Valuation provides limited help because earnings are negative and no dividend yield is available.
Companhia Siderúrgica Nacional (SID) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $1.10B
- Dividend Yield
- ―
- Average Volume (3M)
- 8.50M
- Price to Earnings (P/E)
- -2.5
- Beta (1Y)
- 1.21
- Revenue Growth
- 9.29%
- EPS Growth
- -26.44%
- Country
- US
- Employees
- 24,924
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Steel
Companhia Siderúrgica Nacional Business Overview & Revenue Model
Company Description
Companhia Siderúrgica Nacional (CSN) operates as an integrated steel manufacturer, holding a significant presence across Brazil and Latin America. Its operations are diversified across five key divisions: Steel, Mining, Logistics, Energy, and Cement....
How the Company Makes Money
CSN primarily makes money by selling products and services across several business segments. (1) Steel: The company generates revenue by producing and selling steel products (notably flat steel) to domestic and export markets. Earnings in this segmen...
Companhia Siderúrgica Nacional Earnings Call Summary
The call conveyed a generally positive operational momentum: consolidated EBITDA grew ~5% and several segments delivered record or near-record EBITDA (cement, logistics), free cash flow turned positive (BRL 808 million), and management is executing liability-management and asset-sale plans (binding offers for cement; nonbinding interest in infrastructure). Offsetting risks include mining revenue pressure from freight and FX, persistent import competition for steel (circumvention risk), remaining P15 CapEx (~BRL 4 billion) and a small increase in leverage (3.36x to 3.49x). On balance, the progress on cash generation, inventory reduction, segment recoveries (steel and cement) and capital markets actions materially outweigh the headwinds reported.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management guided to a stronger second half driven by operational improvement and asset sales: consolidated EBITDA rose ~5% (12‑month EBITDA ~BRL 6.0bn) and free cash flow was BRL 808m in Q2, with working‑capital releases of roughly BRL 900m this quarter and a further ~BRL 1bn targeted by year‑end to support deleveraging; steel recovered to a 10.5% EBITDA margin in Q2 with a target of 15–17% in H2 while capturing 600–700k tons from imports (import penetration seen falling from ~25% to ~15–17%) and aiming for slab costs near BRL 3,000–3,150/t and inventory targets (~500k tons in‑house, overall inventories down from BRL 3bn toward BRL 1bn); mining unit revenue was $18/t in Q2 with EBITDA margin >30%; cement posted record EBITDA >BRL 420m and >30% margin and has received binding offers for a sale; logistics achieved ~45% margin (second‑best EBITDA ever); net leverage edged from 3.36x to 3.49x, P15 CapEx remaining ~BRL 4bn (completion end‑2027, ramp‑up 2028, full ops 2029), and a new 2030 bond saw ~77% adherence.
Companhia Siderúrgica Nacional Financial Statement Overview
Summary
Financial statements remain strained despite improving operations. Revenue rebounded sharply and operating margins are positive (EBIT ~9.8%, EBITDA ~19.4%), but net losses persist (net margin ~-5.4%). Leverage is a major risk (debt-to-equity ~4.47x; negative ROE ~-18.6%), and cash generation has weakened with slightly negative operating cash flow and deeply negative free cash flow (about -6.3B).
Income Statement
34NegativeBalance Sheet
27NegativeCash Flow
22Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.08B | 43.92B | 43.69B | 45.44B | 44.36B | 47.91B |
| Gross Profit | 12.34B | 11.87B | 11.70B | 11.30B | 13.31B | 22.07B |
| EBITDA | 5.79B | 7.08B | 6.85B | 8.58B | 10.07B | 23.08B |
| Net Income | -2.63B | -1.96B | -2.59B | -318.21M | 1.55B | 12.26B |
Balance Sheet | ||||||
| Total Assets | 100.45B | 100.52B | 103.91B | 91.53B | 85.35B | 79.38B |
| Cash, Cash Equivalents and Short-Term Investments | 14.27B | 15.06B | 24.22B | 17.59B | 13.46B | 19.30B |
| Total Debt | 54.32B | 53.99B | 57.10B | 45.26B | 41.55B | 32.57B |
| Total Liabilities | 85.23B | 84.80B | 88.45B | 71.84B | 63.54B | 56.00B |
| Stockholders Equity | 12.15B | 12.87B | 12.27B | 17.50B | 19.49B | 20.31B |
Cash Flow | ||||||
| Free Cash Flow | -6.22B | -6.77B | 3.16B | 2.88B | -3.33B | 11.93B |
| Operating Cash Flow | -242.27M | -954.06M | 8.65B | 7.29B | 2.04B | 14.79B |
| Investing Cash Flow | -5.89B | -6.00B | -1.12B | -4.59B | -11.45B | 447.93M |
| Financing Cash Flow | 1.38B | -1.74B | -103.83M | 1.32B | 4.75B | -8.53B |
Companhia Siderúrgica Nacional Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SID, the sentiment is Negative. The current price of 0.83 is below the 20-day moving average (MA) of 0.91, below the 50-day MA of 1.08, and below the 200-day MA of 1.22, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 40.96 is Neutral, neither overbought nor oversold. The STOCH value of 66.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SID.
Companhia Siderúrgica Nacional Risk Analysis
Companhia Siderúrgica Nacional disclosed 41 risk factors in its most recent earnings report. Companhia Siderúrgica Nacional reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
1 New RiskCompanhia Siderúrgica Nacional Peers Comparison
Overall Rating
SIM66Neutral
GGB63Neutral
TX63Neutral
CLF58Neutral
MT54Neutral- SID44.35Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SIM | 66Neutral | $4.23B | 11.42 | 9.07% | ― | 16.64% | 51.26% |
| GGB | 63Neutral | $8.50B | 15.49 | 5.06% | 3.54% | 10.25% | 4.20% |
| TX | 63Neutral | $10.03B | 10.47 | 7.82% | 4.27% | 7.26% | 66.04% |
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| CLF | 58Neutral | $7.34B | -14.76 | -8.14% | ― | 8.10% | 75.20% |
| MT | 54Neutral | $48.30B | 48.20 | 1.91% | 1.10% | 3.25% | -27.63% |
| SID | 44Neutral | $1.03B | -2.49 | -18.55% | ― | 9.29% | -26.44% |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SID | Companhia Siderúrgica Nacional | 0.83 | -0.80 | -49.14% | |
| MT | ArcelorMittal | 66.17 | 26.50 | 66.81% | |
| CLF | Cleveland-Cliffs | 13.14 | 2.63 | 25.02% | |
| GGB | Gerdau | 4.59 | 1.09 | 31.07% | |
| SIM | Grupo Simec S.a. De C.v. | 25.07 | -2.83 | -10.14% | |
| TX | Ternium | 51.54 | 16.26 | 46.08% |
Companhia Siderúrgica Nacional Corporate Events
CSN Enters R$12.7 Billion Exclusivity Deal to Sell Cement Unit to Huaxin
On October 30, 2026, CSN announced it had entered a 10‑day exclusivity agreement with China’s Huaxin Building Materials Group for the potential sale of CSN Cimentos Brasil S.A. shares. The deal framework assigns CSN Cimentos an enterprise value of R$...
CSN Reshapes Top Leadership With New CEO and Confirmed Board in September 2026
On September 2026, CSN disclosed an updated composition of its board of directors and executive officers, formalizing governance roles across its main corporate bodies. The release confirms longstanding directors, including Chairman Benjamin Steinbru...
Companhia Siderúrgica Nacional Reports Mid‑2026 Balance Sheet Position
Companhia Siderúrgica Nacional released its consolidated and parent-company balance sheet for the period ended June 30, 2026, reported in thousands of reais. The filing details the company’s asset composition, including cash, financial investments, t...
CSN Posts Strong 2Q26 Operating Gains but Swings to Deeper Net Loss on FX Costs
On August 12, 2026, CSN reported its second-quarter 2026 results, highlighting a 6.6% quarter-on-quarter and 5.7% year-on-year rise in net revenue to R$11.3 billion, driven by seasonally stronger demand, higher steel prices and increased sales volume...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 27, 2026