Also trades as: SID (NYSE) · $vol 6M

R$6.20 ($1.19)

+0.22 (+3.68%)

Weekly Expected Move ±10.8%

R$5 R$5 R$6 R$7 R$7

SAO · Basic Materials · Steel · Tech Score Neutral · Power 45 · R$8.2B mcap · 625M float · 2.91% daily turnover

Revenue

$44.8B +2.5% ▲

5Y CAGR: +8.3%

Gross Profit

$12.1B +6.2% ▲

5Y CAGR: +2.1%

Operating Income

$4.7B +11.1% ▲

5Y CAGR: -8.8%

Net Income

-$2.0B +22.7% ▲

EPS (Diluted)

$-1.51 +22.6% ▲

EBITDA

$8.9B +15.9% ▲

5Y CAGR: -1.8%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$47.9B	$44.4B	$45.4B	$43.7B	$44.8B
YoY Growth	+59.4%	-7.4%	+2.4%	-3.9%	+2.5%
Cost of Revenue	$25.8B	$31.1B	$34.1B	$32.3B	$32.7B
Gross Profit	$22.1B	$13.3B	$11.3B	$11.4B	$12.1B
Gross Margin	46.1%	30.0%	24.9%	26.1%	27.0%
R&D Expenses	$77M	$59M	$58M	$57M	$0
SG&A Expenses	$3.0B	$3.3B	$4.5B	$6.4B	$6.1B
Operating Expenses	$3.5B	$4.3B	$6.1B	$7.1B	$7.4B
Operating Income	$18.6B	$9.0B	$5.2B	$4.3B	$4.7B
Operating Margin	38.7%	20.2%	11.4%	9.8%	10.6%
Interest Expense	$2.6B	$3.3B	$4.8B	$4.6B	$4.7B
Income Before Tax	$18.6B	$4.1B	$1.0B	-$1.5B	-$1.7B
Tax Expense	$5.0B	$2.0B	$633M	-$5M	-$173M
Net Income	$12.3B	$1.6B	-$318M	-$2.6B	-$2.0B
Net Margin	25.6%	3.5%	-0.7%	-5.9%	-4.5%
EPS (Diluted)	$8.91	$1.17	$-0.24	$-1.95	$-1.51
EBITDA	$23.2B	$10.3B	$8.6B	$7.7B	$8.9B
Shares Outstanding	1.38B	1.33B	1.33B	1.33B	1.33B

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$11.1B	$12.0B	$10.9B	$10.7B	$11.8B	$11.4B	$10.6B	$11.3B
Cost of Revenue	$8.3B	$8.5B	$8.4B	$8.0B	$8.3B	$7.9B	$8.2B	$8.4B
Gross Profit	$2.7B	$3.5B	$2.5B	$2.7B	$3.5B	$3.5B	$2.5B	$2.9B
Gross Margin	24.7%	29.0%	23.2%	25.5%	29.4%	31.1%	23.1%	25.5%
R&D Expenses	$15M	$17M	$0	$0	$0	$30M	$13M	$24M
SG&A Expenses	$1.9B	$1.6B	$1.3B	$1.5B	$1.5B	$2.0B	$1.3B	$1.6B
Operating Expenses	$3.7B	$2.1B	$1.6B	$1.3B	$1.7B	$2.6B	$1.6B	$1.8B
Operating Income	$781M	$1.4B	$888M	$1.1B	$1.7B	$959M	$819M	$1.1B
Operating Margin	7.1%	11.3%	8.1%	9.8%	14.6%	8.4%	7.7%	9.4%
Interest Expense	$1.5B	$791M	$1.5B	$1.1B	$1.1B	$1.2B	$1.1B	$1.1B
Income Before Tax	-$1.2B	$30M	-$963M	-$257M	$281M	-$740M	-$1.0B	-$1.1B
Tax Expense	-$399M	$115M	-$231M	-$127M	$204M	-$19M	-$457M	-$305M
Net Income	-$840M	-$633M	-$732M	-$130M	$76M	-$1.1B	-$616M	-$794M
Net Margin	-7.6%	-5.3%	-6.7%	-1.2%	0.6%	-9.5%	-5.8%	-7.0%
EPS (Diluted)	$-0.63	$-0.48	$-0.55	$-0.13	$0.06	$-0.81	$-0.46	$-0.60
EBITDA	$1.6B	$2.6B	$1.8B	$2.5B	$2.6B	$2.0B	$2.0B	$2.2B
Shares Outstanding	1.33B	1.33B	1.33B	1.33B	1.33B	1.33B	1.33B	1.33B

CSNA3.SA SAO