White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
Gerdau S.A., together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, and South America Business segments. The company offers rebars, bars, wires, thick plates, hot rolled coils, billets, blooms, plates, wire rods, and structural profiles.
Show more
Gerdau S.A., together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, and South America Business segments. The company offers rebars, bars, wires, thick plates, hot rolled coils, billets, blooms, plates, wire rods, and structural profiles. It also provides special steel products for agricultural, automotive, construction, distribution, energy, industrial, and mining markets. In addition, it operates mines that produce iron ore located in Brazil. The company was founded in 1901 and is headquartered in São Paulo, Brazil.
Gerdau S.A (GGBN) currently trades at 84.08 MXN, while our model-based Fair Value estimate is 39.51 MXN, 53.0% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of 77.27 MXN per share, and 7 of the 25 models we run sit above the 84.08 MXN price.
Bear case: the Earnings-Based group reads lowest at 14.12 MXN, and 18 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: 29.63 MXN (bear) to 45.35 MXN (bull), the price of 84.08 MXN sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Gerdau S.A reported revenue of R$69.9B in FY2025 versus R$78.3B in FY2021, a compound −2.8%/yr. Reported net income was R$1.4B in FY2025, compounding −45.4%/yr from FY2021.
Key figures
Market cap 166B MXN (≈ $9.2B) · P/E ratio 29.7 · P/S ratio 0.59 · EPS (TTM) 2.81 MXN · Dividend yield 0.8% · Net margin 2.0% · Return on equity 3.1% · Return on assets (EBIT) 15.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 47% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at −53%, GGBN screens richer than that median.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.61 MXN per share) are deliberately not added.
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
20.95 MXN
37.54 MXN
61.35 MXN
75
Growth DCF
21.54 MXN
36.33 MXN
56.36 MXN
73
Residual Income
67.12 MXN
65.27 MXN
65.46 MXN
73
All 25 models by family
DCF Models
FCF DCF
20.95 MXN
37.54 MXN
61.35 MXN
75
5Y Revenue Exit
53.47 MXN
100.29 MXN
160.22 MXN
67
5Y EBITDA Exit
68.29 MXN
127.58 MXN
196.47 MXN
70
5Y P/E Exit
16.96 MXN
33.02 MXN
49.47 MXN
66
10Y Revenue Exit
38.19 MXN
77.27 MXN
129.76 MXN
61
10Y EBITDA Exit
49.94 MXN
95.65 MXN
156.42 MXN
63
10Y P/E Exit
18.14 MXN
31.98 MXN
48.27 MXN
60
Earnings-Based
Graham-Dodd
16.61 MXN
47.90 MXN
63.21 MXN
60
Lynch FV
9.88 MXN
14.12 MXN
18.35 MXN
57
PEG = 1.0
9.88 MXN
14.12 MXN
18.35 MXN
53
EPV
32.01 MXN
39.10 MXN
45.21 MXN
72
Dividend Discount
Gordon GGM
19.88 MXN
39.62 MXN
59.99 MXN
62
DDM Multi-Stage
19.88 MXN
31.28 MXN
41.82 MXN
62
Multiples
P/E Multiple
31.14 MXN
41.52 MXN
51.90 MXN
61
P/S Multiple
31.14 MXN
41.52 MXN
51.90 MXN
56
P/B Multiple
31.14 MXN
41.52 MXN
51.90 MXN
53
EV/EBIT
90.81 MXN
125.37 MXN
159.93 MXN
64
EV/EBITDA
109.83 MXN
150.73 MXN
191.64 MXN
66
EV/Revenue
76.99 MXN
115.50 MXN
154.01 MXN
52
Asset-Based
NCAV (Graham)
47.18 MXN
63.22 MXN
94.35 MXN
52
Growth DCF
Growth DCF
21.54 MXN
36.33 MXN
56.36 MXN
73
Rev-Margin DCF
53.47 MXN
99.59 MXN
151.10 MXN
68
Economic Profit
Residual Income
67.12 MXN
65.27 MXN
65.46 MXN
73
ROIC Compounder
32.01 MXN
39.10 MXN
45.21 MXN
69
Growth Earnings
Growth-Adj P/E
25.66 MXN
36.66 MXN
47.66 MXN
64
Open the full fair value analysis →
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
10 more Steel stocks, each showing price versus our Fair Value estimate.
Pick a strategy and jump into the live analysis with that exact screen applied.
Is Gerdau S.A (GGBN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 39.51 MXN versus the last price from Sep 25, 2026 of 84.08 MXN, about −53% upside (overvalued).
What is the fair value of GGBN?
Our model-based fair value for Gerdau S.A is 39.51 MXN (as of Sep 23, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): 84.08 MXN.
What is the quality score of GGBN?
Gerdau S.A has a Quality Score of 51/100. 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 price target for Gerdau S.A (GGBN)?
Our model-based price target is the fair value of 39.51 MXN (as of Sep 23, 2026) from 25 valuation models. Cautious scenario 29.63 MXN, optimistic scenario 45.35 MXN. It is a calculation from audited fundamentals, not an analyst target.
What is the Gerdau S.A stock forecast for 2026?
Our models put fair value at 39.51 MXN, about −53% upside versus the last price from Sep 25, 2026 of 84.08 MXN (overvalued). Cautious scenario 29.63 MXN, optimistic scenario 45.35 MXN. The calculation is refreshed regularly with new filings.
What is the revenue of Gerdau S.A (GGBN)?
Gerdau S.A reported trailing-twelve-month revenue of about R$69.2B (latest available figure, as of Sep 23, 2026).
Does Gerdau S.A pay a dividend?
Gerdau S.A currently shows a dividend yield of about 0.81% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Gerdau S.A (GGBN)?
For today's price to be fair in a discounted-cash-flow model, Gerdau S.A would have to grow free cash flow by +32.3 % per year for five years (discount rate 11.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of GGBN use?
Our models discount Gerdau S.A at 11.7 %: a base by market capitalisation (mid), damped by beta 0.90, country premium for Mexico. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Gerdau S.A that is +32.3 % per year a year over ten years, using the same discount rate (11.7 %) and the same formula as our fair value.
How much growth has Gerdau S.A (GGBN) delivered so far?
Over the past 5 years revenue at Gerdau S.A grew +9.8 % a year. The price currently implies +32.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Gerdau S.A (GGBN) growing?
The median revenue growth in the sector is +8.0 % a year. That is the yardstick for the growth priced into Gerdau S.A (+32.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Gerdau S.A (GGBN)?
The free-cash-flow yield on the price is 2.38 %: that much free cash flow Gerdau S.A produces per unit of market value. When it exceeds the discount rate of our models (11.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Gerdau S.A (GGBN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gerdau S.A it is 39.51 MXN per share (as of Sep 23, 2026), against a price of 84.08 MXN. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Gerdau S.A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, GGBN trades above its calculated fair value: price 84.08 MXN, fair value 39.51 MXN, a gap of about −53% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GGBN?
No. The price is what the market pays today (84.08 MXN); the fair value is what the company's own numbers justify (39.51 MXN). For Gerdau S.A the two are 44.57 MXN per share apart. That gap is exactly why we show both numbers side by side.
How much is Gerdau S.A worth?
The market values Gerdau S.A at about 166B MXN (market capitalisation, as of Sep 23, 2026). Per share that is 84.08 MXN; our models calculate a fair value of 39.51 MXN per share.
What do the bullish and bearish scenarios say about GGBN?
Our models span a range for Gerdau S.A: cautious scenario 29.63 MXN, base 39.51 MXN, optimistic 45.35 MXN per share (as of Sep 23, 2026, price 84.08 MXN). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is GGBN from its 52-week high?
Gerdau S.A trades at 84.08 MXN, about 3% below its 52-week high of 86.75 MXN and 47% above the low of 57.20 MXN (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of 39.51 MXN is for.
Which stocks are comparable to Gerdau S.A?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Gerdau S.A stock attractive at the current price?
The data as of Sep 23, 2026: price 84.08 MXN, calculated fair value 39.51 MXN (−53%), Quality Score 51/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GGBN calculated?
We run Gerdau S.A through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 39.51 MXN, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Gerdau S.A itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on
is it worth investing now.
What is the share price of Gerdau S.A (GGBN)?
The latest price we hold is from Sep 25, 2026 and stands at 84.08 MXN. Our model-based fair value is 39.51 MXN, about −53% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gerdau S.A right now?
The price sits above even our optimistic bull case (45.35 MXN). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Gerdau S.A
How large is the market capitalisation of Gerdau S.A (GGBN)?
The market capitalisation of Gerdau S.A is 166B MXN (≈ $9.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Gerdau S.A (GGBN)?
The price-to-earnings ratio of Gerdau S.A is 29.7 (as of Jul 17, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Gerdau S.A (GGBN)?
The price-to-sales ratio of Gerdau S.A is 0.59 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Gerdau S.A (GGBN)?
Earnings per share at Gerdau S.A are 2.81 MXN (price ÷ EPS = P/E 29.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Gerdau S.A (GGBN)?
The dividend yield of Gerdau S.A is 0.8% (payout 24.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Gerdau S.A (GGBN)?
The net margin of Gerdau S.A is 2.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Gerdau S.A (GGBN)?
The return on equity (ROE) of Gerdau S.A is 3.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Gerdau S.A (GGBN)?
On an EBIT basis the return on assets of Gerdau S.A is 15.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Gerdau S.A (GGBN)?
The operating margin of Gerdau S.A is 10.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gerdau S.A (GGBN)?
Revenue at Gerdau S.A is growing −3.8% versus a year earlier (3y avg −5.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Gerdau S.A (GGBN)?
Earnings per share at Gerdau S.A are growing +37.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Gerdau S.A (GGBN) carry?
The net debt of Gerdau S.A is R$8.3B (fiscal year 2025, ≈ 7.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.