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Stocks · Materials · Steel Works, Blast Furnaces & Rolling & Finishing Mills

GERDAU S.A.

GGB Clue Score45
Brazil Fiscal year ends December CIK 0001073404
$5.12 +4.07% Close, 9 Oct 2026
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Price $5.12 +5.13% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue37.65Operating income−1.64Net income−2.89EPS, diluted−1.70Fiscal year 2017Revenue36.92 −1.9%Operating income1.10Net income−0.36EPS, diluted−0.21Fiscal year 2018Revenue46.16 +25.0%Operating income4.05Net income2.30EPS, diluted1.34Fiscal year 2019Revenue39.64 −14.1%Operating income3.18Net income1.20 −47.8%EPS, diluted0.70 −47.8%Fiscal year 2020Revenue43.81 +10.5%Operating income5.19Net income2.37 +96.5%EPS, diluted1.38 +97.1%Fiscal year 2021Revenue78.35 +78.8%Operating income21.02Net income15.49 +554.9%EPS, diluted9.04 +555.1%Fiscal year 2022Revenue82.41 +5.2%Operating income17.75Net income11.43 −26.3%EPS, diluted6.50 −28.1%Fiscal year 2023Revenue68.92 −16.4%Operating income10.45Net income7.50 −34.3%Fiscal year 2024Revenue67.03 −2.7%Operating income7.49Net income4.57 −39.1%Fiscal year 2025Revenue69.86 +4.2%Operating income3.74Net income1.39 −69.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 37.65 36.92 46.16 39.64 43.81 78.35 82.41 68.92 67.03 69.86
Growth −1.9% +25.0% −14.1% +10.5% +78.8% +5.2% −16.4% −2.7% +4.2%
Operating income −1.64 1.10 4.05 3.18 5.19 21.02 17.75 10.45 7.49 3.74
Net income −2.89 −0.36 2.30 1.20 2.37 15.49 11.43 7.50 4.57 1.39
Growth −47.8% +96.5% +554.9% −26.3% −34.3% −39.1% −69.6%
EPS, diluted −1.70 −0.21 1.34 0.70 1.38 9.04 6.50 n/a n/a n/a
Growth −47.8% +97.1% +555.1% −28.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin9.2%Operating margin−4.3%Net margin−7.7%Free cash flow margin5.8%Fiscal year 2017Gross margin9.8%Operating margin3.0%Net margin−1.0%Free cash flow margin3.3%Fiscal year 2018Gross margin13.3%Operating margin8.8%Net margin5.0%Free cash flow margin1.7%Fiscal year 2019Gross margin10.6%Operating margin8.0%Net margin3.0%Free cash flow margin−0.3%Fiscal year 2020Gross margin13.5%Operating margin11.9%Net margin5.4%Free cash flow margin10.9%Fiscal year 2021Gross margin26.6%Operating margin26.8%Net margin19.8%Free cash flow margin12.1%Fiscal year 2022Gross margin22.8%Operating margin21.5%Net margin13.9%Free cash flow margin8.3%Fiscal year 2023Gross margin16.4%Operating margin15.2%Net margin10.9%Free cash flow margin8.6%Fiscal year 2024Gross margin13.7%Operating margin11.2%Net margin6.8%Free cash flow margin8.4%Fiscal year 2025Gross margin11.4%Operating margin5.4%Net margin2.0%Free cash flow margin1.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 9.2% 9.8% 13.3% 10.6% 13.5% 26.6% 22.8% 16.4% 13.7% 11.4%
Operating margin −4.3% 3.0% 8.8% 8.0% 11.9% 26.8% 21.5% 15.2% 11.2% 5.4%
Net margin −7.7% −1.0% 5.0% 3.0% 5.4% 19.8% 13.9% 10.9% 6.8% 2.0%
Free cash flow margin 5.8% 3.3% 1.7% −0.3% 10.9% 12.1% 8.3% 8.6% 8.4% 1.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow3.52Capital expenditure−1.32Free cash flow2.19Buybacks−0.10Dividends paid−0.09Fiscal year 2017Operating cash flow2.08Capital expenditure−0.87Free cash flow1.20 −45.1%Dividends paid−0.09Fiscal year 2018Operating cash flow2.00Capital expenditure−1.19Free cash flow0.80 −33.1%Buybacks−0.24Dividends paid−0.60Fiscal year 2019Operating cash flow1.64Capital expenditure−1.75Free cash flow−0.10 −112.9%Buybacks0.00Dividends paid−0.48Fiscal year 2020Operating cash flow6.41Capital expenditure−1.65Free cash flow4.76Buybacks0.00Dividends paid−0.27Fiscal year 2021Operating cash flow12.52Capital expenditure−3.03Free cash flow9.49 +99.5%Dividends paid−5.34Fiscal year 2022Operating cash flow11.15Capital expenditure−4.29Free cash flow6.86 −27.7%Buybacks−1.07Dividends paid−5.89Fiscal year 2023Operating cash flow11.14Capital expenditure−5.21Free cash flow5.93 −13.5%Dividends paid−2.68Fiscal year 2024Operating cash flow11.38Capital expenditure−5.78Free cash flow5.60 −5.5%Buybacks−1.19Dividends paid−1.66Fiscal year 2025Operating cash flow7.99Capital expenditure−6.68Free cash flow1.31 −76.7%Buybacks−1.17Dividends paid−1.29
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 3.52 2.08 2.00 1.64 6.41 12.52 11.15 11.14 11.38 7.99
Capital expenditure −1.32 −0.87 −1.19 −1.75 −1.65 −3.03 −4.29 −5.21 −5.78 −6.68
Free cash flow 2.19 1.20 0.80 −0.10 4.76 9.49 6.86 5.93 5.60 1.31
Growth −45.1% −33.1% −112.9% +99.5% −27.7% −13.5% −5.5% −76.7%
Buybacks −0.10 n/a −0.24 0.00 0.00 n/a −1.07 n/a −1.19 −1.17
Dividends paid −0.09 −0.09 −0.60 −0.48 −0.27 −5.34 −5.89 −2.68 −1.66 −1.29

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash5.06Shareholders’ equity24.03Fiscal year 2017Cash2.56Shareholders’ equity23.65Fiscal year 2018Cash2.89Shareholders’ equity25.73Fiscal year 2019Cash2.64Shareholders’ equity26.96Fiscal year 2020Cash4.62Shareholders’ equity30.86Fiscal year 2021Cash4.16Shareholders’ equity42.60Fiscal year 2022Cash2.48Shareholders’ equity46.12Fiscal year 2023Cash3.01Shareholders’ equity49.06Fiscal year 2024Cash7.77Shareholders’ equity57.95Fiscal year 2025Cash5.93Shareholders’ equity53.59
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 5.06 2.56 2.89 2.64 4.62 4.16 2.48 3.01 7.77 5.93
Shareholders’ equity 24.03 23.65 25.73 26.96 30.86 42.60 46.12 49.06 57.95 53.59

In billions of BRL, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of BRL, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
37.65 36.92 46.16 39.64 43.81 78.35 82.41 68.92 67.03 69.86
Growth −1.9% +25.0% −14.1% +10.5% +78.8% +5.2% −16.4% −2.7% +4.2%
34.19 33.31 40.01 35.44 37.88 57.53 63.66 57.58 57.82 61.89
3.46 3.60 6.15 4.20 5.93 20.82 18.75 11.33 9.20 7.97
Growth +4.1% +70.6% −31.6% +41.1% +251.0% −9.9% −39.6% −18.8% −13.4%
2.24 1.65 1.65 1.43 1.53 2.11 2.19 2.21 2.17 2.12
−1.64 1.10 4.05 3.18 5.19 21.02 17.75 10.45 7.49 3.74
Growth +267.9% −21.3% +63.1% +304.7% −15.6% −41.1% −28.4% −50.1%
−2.58 −0.04 2.16 1.67 3.50 20.27 15.86 9.35 5.46 2.52
0.30 0.30 −0.17 0.46 1.11 4.71 4.38 1.81 0.86 1.11
−2.89 −0.36 2.30 1.20 2.37 15.49 11.43 7.50 4.57 1.39
Growth −47.8% +96.5% +554.9% −26.3% −34.3% −39.1% −69.6%
Per share
−1.70 −0.21 1.35 0.71 1.39 9.09 n/a n/a n/a n/a
−1.70 −0.21 1.34 0.70 1.38 9.04 6.50 n/a n/a n/a
Growth −47.8% +97.1% +555.1% −28.1%
571.9 571.9 n/a n/a n/a n/a n/a n/a n/a n/a

Shown in BRL as filed; the screener converts to dollars.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.8% a year over five years.
  • Operating margin is down 6.5 points on five years ago, at 5.4%.
  • A net loss in 2 of 10 years on file.