Usinas Siderúrgicas de Minas Gerais S.A (USIM3) - Net Assets
Based on the latest financial reports, Usinas Siderúrgicas de Minas Gerais S.A (USIM3) has net assets worth R$23.70 Billion BRL (≈ $4.65 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (R$36.83 Billion ≈ $7.23 Billion USD) and total liabilities (R$13.13 Billion ≈ $2.58 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore USIM3 current and non-current assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | R$23.70 Billion |
| % of Total Assets | 64.36% |
| Annual Growth Rate | 9.22% |
| 5-Year Change | -2.7% |
| 10-Year Change | 56.02% |
| Growth Volatility | 17.49 |
Usinas Siderúrgicas de Minas Gerais S.A - Net Assets Trend (2002–2025)
This chart illustrates how Usinas Siderúrgicas de Minas Gerais S.A's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see USIM3 stock market capitalisation.
Annual Net Assets for Usinas Siderúrgicas de Minas Gerais S.A (2002–2025)
The table below shows the annual net assets of Usinas Siderúrgicas de Minas Gerais S.A from 2002 to 2025. Explore cash flow conversion of Usinas Siderúrgicas de Minas Gerais S.A to assess how effectively this company generates cash.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | R$23.70 Billion ≈ $4.65 Billion |
-11.18% |
| 2024-12-31 | R$26.68 Billion ≈ $5.24 Billion |
+0.51% |
| 2023-12-31 | R$26.55 Billion ≈ $5.21 Billion |
+2.56% |
| 2022-12-31 | R$25.89 Billion ≈ $5.08 Billion |
+6.28% |
| 2021-12-31 | R$24.36 Billion ≈ $4.78 Billion |
+44.66% |
| 2020-12-31 | R$16.84 Billion ≈ $3.30 Billion |
+8.17% |
| 2019-12-31 | R$15.57 Billion ≈ $3.05 Billion |
-0.84% |
| 2018-12-31 | R$15.70 Billion ≈ $3.08 Billion |
+3.38% |
| 2017-12-31 | R$15.18 Billion ≈ $2.98 Billion |
-0.05% |
| 2016-12-31 | R$15.19 Billion ≈ $2.98 Billion |
+1.32% |
| 2015-12-31 | R$14.99 Billion ≈ $2.94 Billion |
-20.08% |
| 2014-12-31 | R$18.76 Billion ≈ $3.68 Billion |
-0.38% |
| 2013-12-31 | R$18.83 Billion ≈ $3.70 Billion |
+1.73% |
| 2012-12-31 | R$18.51 Billion ≈ $3.63 Billion |
-2.64% |
| 2011-12-31 | R$19.01 Billion ≈ $3.73 Billion |
-0.08% |
| 2010-12-31 | R$19.03 Billion ≈ $3.73 Billion |
+18.93% |
| 2009-12-31 | R$16.00 Billion ≈ $3.14 Billion |
+5.86% |
| 2008-12-31 | R$15.12 Billion ≈ $2.97 Billion |
+20.07% |
| 2007-12-31 | R$12.59 Billion ≈ $2.47 Billion |
+19.71% |
| 2006-12-31 | R$10.52 Billion ≈ $2.06 Billion |
+19.00% |
| 2005-12-31 | R$8.84 Billion ≈ $1.73 Billion |
+43.41% |
| 2004-12-31 | R$6.16 Billion ≈ $1.21 Billion |
+49.79% |
| 2003-12-31 | R$4.11 Billion ≈ $807.21 Million |
+31.84% |
| 2002-12-31 | R$3.12 Billion ≈ $612.28 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Usinas Siderúrgicas de Minas Gerais S.A's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 673753300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | R$6.72 Billion | 32.28% |
| Common Stock | R$13.20 Billion | 63.42% |
| Other Comprehensive Income | R$895.17 Million | 4.30% |
| Total Equity | R$20.81 Billion | 100.00% |
Usinas Siderúrgicas de Minas Gerais S.A Competitors by Market Cap
The table below lists competitors of Usinas Siderúrgicas de Minas Gerais S.A ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhongzhong Science & Technology (Tianjin) Co. Ltd. A
SHG:603135
|
$1.11 Billion |
|
Shanghai Hugong Elec(Group)
SHG:603131
|
$1.11 Billion |
|
Holy Stone Enterprise Co Ltd
TW:3026
|
$1.11 Billion |
|
POLESTAR AUTO.ADR/A
F:A4N1
|
$1.11 Billion |
|
Opera Ltd
NASDAQ:OPRA
|
$1.11 Billion |
|
Wuxi Online Offline Communication Information Technology Co. Ltd.
SHE:300959
|
$1.11 Billion |
|
immatics biotechnologies GmbH
F:4A3
|
$1.11 Billion |
|
Preferred Bank
NASDAQ:PFBC
|
$1.11 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Usinas Siderúrgicas de Minas Gerais S.A's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 23,881,787,000 to 20,813,879,000, a change of -3,067,908,000 (-12.8%).
- Net loss of 3,078,192,000 reduced equity.
- Dividend payments of 42,743,000 reduced retained earnings.
- Other comprehensive income increased equity by 700,845,000.
- Other factors decreased equity by 647,818,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | R$-3.08 Billion | -14.79% |
| Dividends Paid | R$42.74 Million | -0.21% |
| Other Comprehensive Income | R$700.85 Million | +3.37% |
| Other Changes | R$-647.82 Million | -3.11% |
| Total Change | R$- | -12.85% |
Book Value vs Market Value Analysis
This analysis compares Usinas Siderúrgicas de Minas Gerais S.A's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.48x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.69x to 0.48x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-12-31 | R$2.99 | R$8.05 | x |
| 2003-12-31 | R$3.95 | R$8.05 | x |
| 2004-12-31 | R$6.03 | R$8.05 | x |
| 2005-12-31 | R$8.87 | R$8.05 | x |
| 2006-12-31 | R$10.55 | R$8.05 | x |
| 2007-12-31 | R$12.64 | R$8.05 | x |
| 2008-12-31 | R$15.22 | R$8.05 | x |
| 2009-12-31 | R$15.85 | R$8.05 | x |
| 2010-12-31 | R$17.36 | R$8.05 | x |
| 2011-12-31 | R$17.21 | R$8.05 | x |
| 2012-12-31 | R$16.82 | R$8.05 | x |
| 2013-12-31 | R$16.93 | R$8.05 | x |
| 2014-12-31 | R$16.93 | R$8.05 | x |
| 2015-12-31 | R$13.58 | R$8.05 | x |
| 2016-12-31 | R$12.08 | R$8.05 | x |
| 2017-12-31 | R$11.22 | R$8.05 | x |
| 2018-12-31 | R$11.61 | R$8.05 | x |
| 2019-12-31 | R$11.42 | R$8.05 | x |
| 2020-12-31 | R$12.09 | R$8.05 | x |
| 2021-12-31 | R$17.67 | R$8.05 | x |
| 2022-12-31 | R$18.81 | R$8.05 | x |
| 2023-12-31 | R$19.38 | R$8.05 | x |
| 2024-12-31 | R$18.99 | R$8.05 | x |
| 2025-12-31 | R$16.91 | R$8.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Usinas Siderúrgicas de Minas Gerais S.A utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -14.79%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -11.68%
- • Asset Turnover: 0.72x
- • Equity Multiplier: 1.77x
- Recent ROE (-14.79%) is below the historical average (9.40%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | -10.71% | -4.90% | 0.43x | 5.12x | R$-628.09 Million |
| 2003 | 32.66% | 15.08% | 0.56x | 3.89x | R$906.23 Million |
| 2004 | 50.74% | 24.66% | 0.72x | 2.85x | R$2.42 Billion |
| 2005 | 44.77% | 30.05% | 0.72x | 2.08x | R$3.04 Billion |
| 2006 | 24.15% | 20.26% | 0.65x | 1.82x | R$1.47 Billion |
| 2007 | 25.43% | 22.94% | 0.67x | 1.66x | R$1.92 Billion |
| 2008 | 21.45% | 20.53% | 0.57x | 1.84x | R$1.72 Billion |
| 2009 | 8.14% | 11.65% | 0.42x | 1.66x | R$-291.54 Million |
| 2010 | 9.08% | 12.22% | 0.41x | 1.82x | R$-159.61 Million |
| 2011 | 1.35% | 1.96% | 0.36x | 1.93x | R$-1.50 Billion |
| 2012 | -4.25% | -5.56% | 0.39x | 1.97x | R$-2.37 Billion |
| 2013 | -0.85% | -1.10% | 0.41x | 1.88x | R$-1.81 Billion |
| 2014 | 0.77% | 1.10% | 0.39x | 1.82x | R$-1.54 Billion |
| 2015 | -24.13% | -31.77% | 0.37x | 2.07x | R$-4.58 Billion |
| 2016 | -4.95% | -7.92% | 0.32x | 1.94x | R$-2.02 Billion |
| 2017 | 1.69% | 2.17% | 0.41x | 1.89x | R$-1.14 Billion |
| 2018 | 5.09% | 5.29% | 0.52x | 1.86x | R$-699.97 Million |
| 2019 | 1.52% | 1.43% | 0.57x | 1.88x | R$-1.19 Billion |
| 2020 | 4.53% | 4.18% | 0.54x | 2.01x | R$-813.96 Million |
| 2021 | 41.70% | 26.89% | 0.85x | 1.82x | R$6.90 Billion |
| 2022 | 6.98% | 4.98% | 0.81x | 1.73x | R$-699.96 Million |
| 2023 | 5.83% | 5.03% | 0.69x | 1.68x | R$-994.64 Million |
| 2024 | -0.61% | -0.56% | 0.65x | 1.67x | R$-2.53 Billion |
| 2025 | -14.79% | -11.68% | 0.72x | 1.77x | R$-5.16 Billion |
Industry Comparison
This section compares Usinas Siderúrgicas de Minas Gerais S.A's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $10,034,904,329
- Average return on equity (ROE) among peers: 8.89%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Usinas Siderúrgicas de Minas Gerais S.A (USIM3) | R$23.70 Billion | -10.71% | 0.55x | $1.11 Billion |
| CSN Mineração S.A (CMIN3) | $9.89 Billion | 8.87% | 0.65x | $4.98 Billion |
| Companhia Siderúrgica Nacional (CSNA3) | $7.38 Billion | -12.66% | 4.98x | $1.62 Billion |
| Cia de Ferro Ligas da Bahia - FERBASA (FESA3) | $1.28 Billion | 7.15% | 0.14x | $291.90 Million |
| Gerdau S.A (GGBR3) | $17.46 Billion | 16.48% | 1.34x | $2.74 Billion |
| Metalurgica Gerdau S.A (GOAU3) | $23.34 Billion | -0.87% | 1.16x | $906.45 Million |
| Panatlântica S.A (PATI3) | $854.35 Million | 34.34% | 1.33x | $149.81 Million |
About Usinas Siderúrgicas de Minas Gerais S.A
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 eq… Read more