Usinas Siderurgicas de Minas Gerais (USNZY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Usinas Siderurgicas de Minas Gerais $0.99, price $1.44, upside -31.3%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $0.7600 – $3.39 · fair‑value band $0.6700 – $1.31 · the $1.44 price screens above the $0.9900 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Usinas Siderúrgicas de Minas Gerais S.A. operates in the steel industry and related activities in Brazil and internationally. It operates in two segments, Steel Metallurgy and Mining, and Logistics.
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Usinas Siderúrgicas de Minas Gerais S.A. operates in the steel industry and related activities in Brazil and internationally. It operates in two segments, Steel Metallurgy and Mining, and Logistics. The company offers thick plates, hot strips, colled rolled, electrogalvanized, and hot dip galvanized products for the automotive, construction, distribution, energy, oil and gas, and machinery and equipment markets. It is also involved in the extraction and processing of iron ore as pellet feed, sinter feed, and granulated iron ore; steel transformation solutions; operating a distribution center; manufacture and installation of equipment for various industries; and transformation of cold-rolled coils into hot dip galvanized coils. In addition, the company engages in the operation of highway and railway cargo terminals, storage and handling of iron ore and steel products, and road cargo transportation; and rendering of services, rectification of cylinders, and rolling mill rolls. Usinas Siderúrgicas de Minas Gerais S.A. was incorporated in 1956 and is headquartered in Belo Horizonte, Brazil.
Stock analysis
Usinas Siderurgicas de Minas Gerais (USNZY) currently trades at $1.44, while our model-based Fair Value estimate is $0.9900, 31.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $3.06 per share, and 9 of the 15 models we run sit above the $1.44 price.
Bear case: the Earnings-Based group reads lowest at $0.3100, and 6 of the 15 models stay below the price. Evidence for this calculation is medium.
Scenario range: $0.6700 (bear) to $1.31 (bull), the price of $1.44 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 49/100 (below-average 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.
Usinas Siderurgicas de Minas Gerais reported revenue of R$25.8B in FY2025 versus R$33.7B in FY2021, a compound −6.4%/yr. Reported net income was −R$3.0B in FY2025.
Key figures
Market cap $2.1B · P/S ratio 0.08 · EPS (TTM) $−0.4100 · Dividend yield 2.0% · Net margin −11.7% · Return on equity −9.3% · Return on assets (EBIT) 9.4% · Operating margin 5.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 89% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at −31%, USNZY screens cheaper than that median.
Fair Value models
Bear $0.6700Fair Value $0.9900Bull $1.31
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.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.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−0.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−7.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.9%
Start year 2020 (pandemic). Over 10 years: +9.8% a year
Revenue growth 23 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.1%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
8.3% (2020) → 2.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−7.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in BRL, Brazil: IMF forecast 3.3% a year to 2030, 5.4% from 2016 to 2025) that is about −10.4% a year for the price and 0.0% for the forecasts.
Compare Usinas Siderurgicas de Minas Gerais with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Steel · 405 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−31.7% · Below median
Profitability
Return on assets0.9% · Below median
Net margin (TTM)−10.3% · Bottom 25%
Operating margin (TTM)5.6% · Above median
Growth and dividend
Revenue growth−14.4% · Bottom 25%
Dividend yield (TTM)2.0% · Below median
Balance sheet
Debt / equity0.30× · Highest 25%
Valuation Multiplesvs Steel median · lower = cheaper
P/B0.10× · Cheapest 25%
P/S (TTM)0.08× · Cheapest 25%
P/FCF1.7× · Cheapest 25%
EV/EBITDA1.9× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 19
FUTURE (revenue growth)0· sector 33
PAST (return on equity)0· sector 18
HEALTH (low debt)85· sector 95
DIVIDEND (yield)40· sector 51
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Usinas Siderurgicas de Minas Gerais Fair Value". https://www.fairvalue-calculator.com/stock/USNZY
Frequently asked questions
Is Usinas Siderurgicas de Minas Gerais (USNZY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.9900 versus a price of $1.44, about −31% upside (overvalued).
What is the fair value of USNZY?
Our model-based fair value for Usinas Siderurgicas de Minas Gerais is $0.9900 (as of Sep 24, 2026), built from audited fundamentals. The current price: $1.44.
What is the quality score of USNZY?
Usinas Siderurgicas de Minas Gerais has a Quality Score of 49/100. 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 Usinas Siderurgicas de Minas Gerais (USNZY)?
Our model-based price target is the fair value of $0.9900 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario $0.6700, optimistic scenario $1.31. It is a calculation from audited fundamentals, not an analyst target.
What is the Usinas Siderurgicas de Minas Gerais stock forecast for 2026?
Our models put fair value at $0.9900, about −31% upside versus a price of $1.44 (overvalued). Cautious scenario $0.6700, optimistic scenario $1.31. The calculation is refreshed regularly with new filings.
What is the revenue of Usinas Siderurgicas de Minas Gerais (USNZY)?
Usinas Siderurgicas de Minas Gerais reported trailing-twelve-month revenue of about R$25.3B (latest available figure, as of Sep 24, 2026).
Does Usinas Siderurgicas de Minas Gerais pay a dividend?
Usinas Siderurgicas de Minas Gerais currently shows a dividend yield of about 1.99% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Usinas Siderurgicas de Minas Gerais (USNZY)?
For today's price to be fair in a discounted-cash-flow model, Usinas Siderurgicas de Minas Gerais would have to grow free cash flow by -7.5 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of USNZY use?
Our models discount Usinas Siderurgicas de Minas Gerais at 10.2 %: a base by market capitalisation (mid), damped by beta 1.18, country premium for USA. 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 Usinas Siderurgicas de Minas Gerais that is -7.5 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Usinas Siderurgicas de Minas Gerais (USNZY) delivered so far?
Over the past 5 years revenue at Usinas Siderurgicas de Minas Gerais grew +9.9 % a year. The price currently implies -7.5 % 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 Usinas Siderurgicas de Minas Gerais (USNZY) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Usinas Siderurgicas de Minas Gerais (-7.5 % 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 Usinas Siderurgicas de Minas Gerais (USNZY)?
The free-cash-flow yield on the price is 13.53 %: that much free cash flow Usinas Siderurgicas de Minas Gerais produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Usinas Siderurgicas de Minas Gerais (USNZY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Usinas Siderurgicas de Minas Gerais it is $0.9900 per share (as of Sep 24, 2026), against a price of $1.44. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Usinas Siderurgicas de Minas Gerais stock overvalued or undervalued in 2026?
As of Sep 24, 2026, USNZY trades above its calculated fair value: price $1.44, fair value $0.9900, a gap of about −31% (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 USNZY?
No. The price is what the market pays today ($1.44); the fair value is what the company's own numbers justify ($0.9900). For Usinas Siderurgicas de Minas Gerais the two are $0.4500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Usinas Siderurgicas de Minas Gerais worth?
The market values Usinas Siderurgicas de Minas Gerais at about $2.1B (market capitalisation, as of Sep 24, 2026). Per share that is $1.44; our models calculate a fair value of $0.9900 per share.
What do the bullish and bearish scenarios say about USNZY?
Our models span a range for Usinas Siderurgicas de Minas Gerais: cautious scenario $0.6700, base $0.9900, optimistic $1.31 per share (as of Sep 24, 2026, price $1.44). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Usinas Siderurgicas de Minas Gerais (USNZY)?
Balance-sheet figures for Usinas Siderurgicas de Minas Gerais (as of Sep 24, 2026): return on equity −9.3%, debt of 0.30 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is USNZY from its 52-week high?
Usinas Siderurgicas de Minas Gerais trades at $1.44, about 39% below its 52-week high of $2.35 and 89% above the low of $0.7610 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $0.9900 is for.
Which stocks are comparable to Usinas Siderurgicas de Minas Gerais?
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 Usinas Siderurgicas de Minas Gerais stock attractive at the current price?
The data as of Sep 24, 2026: price $1.44, calculated fair value $0.9900 (−31%), Quality Score 49/100, from 15 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 USNZY calculated?
We run Usinas Siderurgicas de Minas Gerais through 15 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 $0.9900, 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. Usinas Siderurgicas de Minas Gerais 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 Usinas Siderurgicas de Minas Gerais (USNZY)?
The closing price on Oct 2, 2026 was $1.44. Our model-based fair value is $0.9900, about −31% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Usinas Siderurgicas de Minas Gerais right now?
The price sits above even our optimistic bull case ($1.31). The favourable scenario is already priced in. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($0.6700 to $1.31) leaves room in how you read the outcome.
Key figures of Usinas Siderurgicas de Minas Gerais
How large is the market capitalisation of Usinas Siderurgicas de Minas Gerais (USNZY)?
The market capitalisation of Usinas Siderurgicas de Minas Gerais is $2.1B. 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/S ratio of Usinas Siderurgicas de Minas Gerais (USNZY)?
The price-to-sales ratio of Usinas Siderurgicas de Minas Gerais is 0.08 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Usinas Siderurgicas de Minas Gerais (USNZY)?
Earnings per share at Usinas Siderurgicas de Minas Gerais are $−0.4100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Usinas Siderurgicas de Minas Gerais (USNZY)?
The dividend yield of Usinas Siderurgicas de Minas Gerais is 2.0%. 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 Usinas Siderurgicas de Minas Gerais (USNZY)?
The net margin of Usinas Siderurgicas de Minas Gerais is −11.7% (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 Usinas Siderurgicas de Minas Gerais (USNZY)?
The return on equity (ROE) of Usinas Siderurgicas de Minas Gerais is −9.3% (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 Usinas Siderurgicas de Minas Gerais (USNZY)?
On an EBIT basis the return on assets of Usinas Siderurgicas de Minas Gerais is 9.4% (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 Usinas Siderurgicas de Minas Gerais (USNZY)?
The operating margin of Usinas Siderurgicas de Minas Gerais is 5.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Usinas Siderurgicas de Minas Gerais (USNZY)?
Revenue at Usinas Siderurgicas de Minas Gerais is growing −14.4% versus a year earlier (3y avg −7.3%). 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 Usinas Siderurgicas de Minas Gerais (USNZY)?
Earnings per share at Usinas Siderurgicas de Minas Gerais are growing +156% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Usinas Siderurgicas de Minas Gerais (USNZY) carry?
The net debt of Usinas Siderurgicas de Minas Gerais is R$1.9B (fiscal year 2025, ≈ 1.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Sep 24, 2026