Companhia Siderurgica Nacional Financials

SID

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2009 Currency USD FYE December

This page shows Companhia Siderurgica Nacional (SID) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SID FY2009 2026-04-30

Companhia Siderrgica Nacional stayed accounting-profitable, but cash conversion and balance-sheet efficiency weakened sharply under sustained reinvestment.

Net income was still $1.3B, but operating cash flow fell to only $40M, meaning reported profit barely arrived as cash because working-capital and timing demands absorbed most of it. With free cash flow at -$890M and financing cash inflow of $872M, the business effectively had to lean on external funding to keep investing even while earnings remained positive.

The current ratio improved to 3.3x because current liabilities dropped to $2.1B, which points to easier near-term liquidity rather than a cash-rich reset of the whole balance sheet. That matters because total liabilities were still $14.9B and debt-to-equity remained 3.5x, so the leverage burden appears to have shifted longer rather than disappeared.

Total assets reached $19.2B while return on assets was only 6.7%, so the business produced less profit per dollar tied up in assets than the income statement alone suggests. That makes the prior year's margin spike look more like a peak operating year than a level the larger asset base could automatically carry.

Financial Health Signals

Financial Profile 55/100

Based on FY2009 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Companhia Siderurgica Nacional's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Companhia Siderurgica Nacional has an operating margin of 23.2%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 89/100, reflecting efficient cost management and pricing power. This is down from 39.6% the prior year.

Growth

Companhia Siderurgica Nacional's revenue declined 30.2% year-over-year, from $7.2B to $5.0B. This contraction results in a growth score of 26/100.

Leverage

Companhia Siderurgica Nacional has a moderate D/E ratio of 3.50. This balance of debt and equity financing earns a leverage score of 31/100.

Liquidity

Companhia Siderurgica Nacional's current ratio of 3.27 indicates adequate short-term liquidity, earning a score of 63/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Companhia Siderurgica Nacional generated $40.0M in operating cash flow, capex of $930.0M consumed most of it, leaving -$890.0M in free cash flow. This results in a low score of 21/100, reflecting heavy capital investment rather than weak cash generation.

Returns

100

Companhia Siderurgica Nacional earns a strong 30.0% return on equity (ROE), meaning it generates $30 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 80.0% the prior year.

Piotroski F-Score Weak

3/9

Companhia Siderurgica Nacional passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.03x

For every $1 of reported earnings, Companhia Siderurgica Nacional generates $0.03 in operating cash flow ($40.0M OCF vs $1.3B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$5.0B

YoY-30.2%

Companhia Siderurgica Nacional generated $5.0B in revenue in fiscal year 2009. This represents a decrease of 30.2% from the prior year.

EBITDA

$821.0M

YoY-67.2%

Companhia Siderurgica Nacional's EBITDA was $821.0M in fiscal year 2009, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 67.2% from the prior year.

Net Income

$1.3B

YoY-51.7%

Companhia Siderurgica Nacional reported $1.3B in net income in fiscal year 2009. This represents a decrease of 51.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$890.0M

YoY-175.4%

Companhia Siderurgica Nacional generated -$890.0M in free cash flow in fiscal year 2009, representing cash available after capex. This represents a decrease of 175.4% from the prior year.

Cash & Debt

$4.0B

YoY+12.4%

Companhia Siderurgica Nacional held $4.0B in cash against $0 in long-term debt as of fiscal year 2009.

Dividends Per Share

$0.81

YoY-12.9%

Companhia Siderurgica Nacional paid $0.81 per share in dividends in fiscal year 2009. This represents a decrease of 12.9% from the prior year.

Shares Outstanding

1.51B

Companhia Siderurgica Nacional had 1.51B shares outstanding in fiscal year 2009.

Margins & Returns

Gross Margin

35.2%

YoY-14.7pp

Companhia Siderurgica Nacional's gross margin was 35.2% in fiscal year 2009, indicating the percentage of revenue retained after direct costs. This is down 14.7 percentage points from the prior year.

Operating Margin

23.2%

YoY-16.4pp

Companhia Siderurgica Nacional's operating margin was 23.2% in fiscal year 2009, reflecting core business profitability. This is down 16.4 percentage points from the prior year.

Net Margin

25.6%

YoY-11.4pp

Companhia Siderurgica Nacional's net profit margin was 25.6% in fiscal year 2009, showing the share of revenue converted to profit. This is down 11.4 percentage points from the prior year.

Return on Equity

30.0%

YoY-50.0pp

Companhia Siderurgica Nacional's ROE was 30.0% in fiscal year 2009, measuring profit generated per dollar of shareholder equity. This is down 50.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$930.0M

YoY+5.0%

Companhia Siderurgica Nacional invested $930.0M in capex in fiscal year 2009, funding long-term assets and infrastructure. This represents an increase of 5.0% from the prior year.

SID Income Statement

Metric	FY09	FY08	FY07
Revenue	$5.0B-30.2%	$7.2B+30.3%	$5.5B
Cost of Revenue	$3.3B-9.8%	$3.6B+17.1%	$3.1B
Gross Profit	$1.8B-50.8%	$3.6B+46.9%	$2.4B
R&D Expenses	N/A	N/A	N/A
SG&A Expenses	$208.0M-5.0%	$219.0M+18.4%	$185.0M
Operating Income	$1.2B-59.1%	$2.8B+52.8%	$1.9B
Interest Expense	N/A	N/A	N/A
Income Tax	$219.0M-47.1%	$414.0M-22.5%	$534.0M
Net Income	$1.3B-51.7%	$2.7B+55.8%	$1.7B
EPS (Diluted)	N/A	N/A	N/A

Metric	Q4'09	Q4'08
Revenue	N/A	N/A
Cost of Revenue	N/A	N/A
Gross Profit	N/A	N/A
R&D Expenses	N/A	N/A
SG&A Expenses	N/A	N/A
Operating Income	N/A	N/A
Interest Expense	N/A	N/A
Income Tax	N/A	N/A
Net Income	N/A	N/A
EPS (Diluted)	N/A	N/A

SID Balance Sheet

Metric	FY09	FY08	FY07
Total Assets	$19.2B+22.1%	$15.7B	N/A
Current Assets	$6.8B-6.4%	$7.3B	N/A
Cash & Equivalents	$4.0B+12.4%	$3.5B+192.0%	$1.2B
Inventory	$1.3B+13.7%	$1.2B	N/A
Accounts Receivable	N/A	N/A	N/A
Goodwill	$168.0M+32.3%	$127.0M	N/A
Total Liabilities	$14.9B+20.4%	$12.4B	N/A
Current Liabilities	$2.1B-45.2%	$3.8B	N/A
Long-Term Debt	N/A	N/A	N/A
Total Equity	$4.3B+28.6%	$3.3B	N/A
Retained Earnings	N/A	N/A	N/A

Metric	Q4'09	Q4'08
Total Assets	$19.2B+22.1%	$15.7B
Current Assets	$6.8B-6.4%	$7.3B
Cash & Equivalents	$4.0B+12.4%	$3.5B
Inventory	$1.3B+13.7%	$1.2B
Accounts Receivable	N/A	N/A
Goodwill	$168.0M+32.3%	$127.0M
Total Liabilities	$14.9B+20.4%	$12.4B
Current Liabilities	$2.1B-45.2%	$3.8B
Long-Term Debt	N/A	N/A
Total Equity	$4.3B+28.6%	$3.3B
Retained Earnings	N/A	N/A

SID Cash Flow Statement

Metric	FY09	FY08	FY07
Operating Cash Flow	$40.0M-98.1%	$2.1B+63.5%	$1.3B
Capital Expenditures	$930.0M+5.0%	$886.0M+40.2%	$632.0M
Free Cash Flow	-$890.0M-175.4%	$1.2B+86.9%	$632.0M
Investing Cash Flow	-$829.0M+35.8%	-$1.3B-18.4%	-$1.1B
Financing Cash Flow	$872.0M-53.3%	$1.9B+1630.3%	-$122.0M
Dividends Paid	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A

Metric	Q4'09	Q4'08
Operating Cash Flow	N/A	N/A
Capital Expenditures	N/A	N/A
Free Cash Flow	N/A	N/A
Investing Cash Flow	N/A	N/A
Financing Cash Flow	N/A	N/A
Dividends Paid	N/A	N/A
Share Buybacks	N/A	N/A

SID Financial Ratios

Metric	FY09	FY08	FY07
Gross Margin	35.2%-14.7pp	49.9%+5.6pp	44.3%
Operating Margin	23.2%-16.4pp	39.6%+5.8pp	33.7%
Net Margin	25.6%-11.4pp	36.9%+6.1pp	30.9%
Return on Equity	30.0%-50.0pp	80.0%	N/A
Return on Assets	6.7%-10.2pp	16.9%	N/A
Current Ratio	3.27+1.4	1.92	N/A
Debt-to-Equity	3.50-0.2	3.74	N/A
FCF Margin	-17.8%-34.2pp	16.4%+5.0pp	11.5%

Metric	Q4'09	Q4'08
Gross Margin	N/A	N/A
Operating Margin	N/A	N/A
Net Margin	N/A	N/A
Return on Equity	N/A	N/A
Return on Assets	N/A	N/A
Current Ratio	3.27+1.4	1.92
Debt-to-Equity	3.50-0.2	3.74
FCF Margin	N/A	N/A

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Frequently Asked Questions

What is Companhia Siderurgica Nacional's annual revenue?

Companhia Siderurgica Nacional (SID) reported $5.0B in total revenue for fiscal year 2009. This represents a -30.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Companhia Siderurgica Nacional's revenue growing?

Companhia Siderurgica Nacional (SID) revenue declined by 30.2% year-over-year, from $7.2B to $5.0B in fiscal year 2009.

Is Companhia Siderurgica Nacional profitable?

Yes, Companhia Siderurgica Nacional (SID) reported a net income of $1.3B in fiscal year 2009, with a net profit margin of 25.6%.

What is Companhia Siderurgica Nacional's EBITDA?

Companhia Siderurgica Nacional (SID) had EBITDA of $821.0M in fiscal year 2009, measuring earnings before interest, taxes, depreciation, and amortization.

What is Companhia Siderurgica Nacional's gross margin?

Companhia Siderurgica Nacional (SID) had a gross margin of 35.2% in fiscal year 2009, indicating the percentage of revenue retained after direct costs of goods sold.

What is Companhia Siderurgica Nacional's operating margin?

Companhia Siderurgica Nacional (SID) had an operating margin of 23.2% in fiscal year 2009, reflecting the profitability of core business operations before interest and taxes.

What is Companhia Siderurgica Nacional's net profit margin?

Companhia Siderurgica Nacional (SID) had a net profit margin of 25.6% in fiscal year 2009, representing the share of revenue converted into profit after all expenses.

Does Companhia Siderurgica Nacional pay dividends?

Yes, Companhia Siderurgica Nacional (SID) paid $0.81 per share in dividends during fiscal year 2009.

What is Companhia Siderurgica Nacional's return on equity (ROE)?

Companhia Siderurgica Nacional (SID) has a return on equity of 30.0% for fiscal year 2009, measuring how efficiently the company generates profit from shareholder equity.

What is Companhia Siderurgica Nacional's free cash flow?

Companhia Siderurgica Nacional (SID) generated -$890.0M in free cash flow during fiscal year 2009. This represents a -175.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Companhia Siderurgica Nacional's operating cash flow?

Companhia Siderurgica Nacional (SID) generated $40.0M in operating cash flow during fiscal year 2009, representing cash generated from core business activities.

What are Companhia Siderurgica Nacional's total assets?

Companhia Siderurgica Nacional (SID) had $19.2B in total assets as of fiscal year 2009, including both current and long-term assets.

What are Companhia Siderurgica Nacional's capital expenditures?

Companhia Siderurgica Nacional (SID) invested $930.0M in capital expenditures during fiscal year 2009, funding long-term assets and infrastructure.

How many shares does Companhia Siderurgica Nacional have outstanding?

Companhia Siderurgica Nacional (SID) had 1.51B shares outstanding as of fiscal year 2009.

What is Companhia Siderurgica Nacional's current ratio?

Companhia Siderurgica Nacional (SID) had a current ratio of 3.27 as of fiscal year 2009, which is generally considered healthy.

What is Companhia Siderurgica Nacional's debt-to-equity ratio?

Companhia Siderurgica Nacional (SID) had a debt-to-equity ratio of 3.50 as of fiscal year 2009, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Companhia Siderurgica Nacional's return on assets (ROA)?

Companhia Siderurgica Nacional (SID) had a return on assets of 6.7% for fiscal year 2009, measuring how efficiently the company uses its assets to generate profit.

What is Companhia Siderurgica Nacional's Piotroski F-Score?

Companhia Siderurgica Nacional (SID) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Companhia Siderurgica Nacional's earnings high quality?

Companhia Siderurgica Nacional (SID) has an earnings quality ratio of 0.03x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Companhia Siderurgica Nacional?

Companhia Siderurgica Nacional (SID) scores 55 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.