
Companhia Siderúrgica Nacional (SID)
ValueMarkers Composite Index
93% below intrinsic value ($3)
Companhia Siderúrgica Nacional (SID) — VMCI valuation read
Companhia Siderúrgica Nacional (SID) carries a VMCI composite of 47/100, 3 points below the Basic Materials sector median of 50. Among mid-cap names, that gap places SID in the bottom third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).
The SID insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.
**Investor frame.** Value reads SID trades at 16.0x earnings, 11% below the Basic Materials median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Basic Materials 12.0x. Quality: ROIC of 14.0% sits 4.0pp above the Basic Materials median (10.0%). Risk: net debt to EBITDA of -1.1x leaves covenant headroom, the line to track on Companhia Siderúrgica Nacional's next 10-Q.
SID fell 3.5% over the trailing 7 days, with a -0.3% read on a 30-day basis.
Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates in five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products that consist of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries. It primarily explores for iron ore reserves at Casa de Pedra and Engenho mines located in the city of Congonhas; and limestone and dolomite at the Bocaina mine located in the city of Arcos in the state of Minas Gerais, Brazil, as well as produces tin. In addition, the company operates railway and port facilities; produces and sells cement to construction material stores, home centers, concrete producers, construction companies, mortar industries, and cement artifact producers; and generates electric power from its thermoelectric co-generation and hydroelectric power plants. It also exports its products. The company was incorporated in 1941 and is headquartered in São Paulo, Brazil. Companhia Siderúrgica Nacional operates as a subsidiary of Vicunha Aços S.A.
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