Usinas Siderurgicas de Minas Gerais SA USIMINAS

股票价格

5.92 BRL

公允价值

8.99 BRL

8.4%

Normalized EBIT Margin

4.8%

Normalized CapEx as % of Revenue

28.0%

Normalized Tax Rate

Earnings Power Value

股票价格

5.92 BRL

公允价值

8.99 BRL

看涨

50.6%

Adj EBIT Margin

Normalized EBIT Margin

Normalized Tax Rate

CapEx

Adj Earnings

Fair Value


Estimate Adjusted EBIT Margin

	Fiscal Year Ending					LTM
	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-24
(BRL in millions)	FY-4	FY-3	FY-2	FY-1	FY	LTM

Revenue	16,088	33,737	32,471	27,638	25,870	25,870

Adjusted EBITDA Build-up
EBT, Incl. Unusual Items	1,846	12,336	3,279	1,166	(96)	(96)
(+) Net Interest Expense	1,082	(846)	(612)	(197)	(57)	(57)
(+) Other Non Operating Exp.	(160)	(219)	(221)	(570)	431	431
(+) D&A	1,000	983	903	984	1,148	1,148
(+) Non-recurring Items				269	(39)	(39)
Adjusted EBITDA	3,769	12,254	3,348	1,652	1,387	1,387

(-) D&A	(1,000)	(983)	(903)	(984)	(1,148)	(1,148)

Adjusted EBIT	2,769	11,272	2,445	668	239	239
% of Revenue	17.2%	33.4%	7.5%	2.4%	0.9%	0.9%


	Low	Median	High

Adjusted EBIT Margin	0.9%	7.5%	33.4%

支持的计算方式

Equity Waterfall


Equity Waterfall

	Model
(BRL in millions)	Low	Mid	High	Market
Enterprise Value	1,079	14,228	67,534	10,512
(+) Cash & Short Term Investments	5,954	5,954	5,954	5,954
(+) Investments & Other	1,442	1,442	1,442	1,442
(-) Debt	(7,758)	(7,758)	(7,758)	(7,758)
(-) Other Liabilities	(2,802)	(2,802)	(2,802)	(2,802)
(-) Preferred Stock	0	0	0	0
(-) Other	0	0	0	0
Value of Common Equity	(2,084)	11,064	64,371	7,349
(/) Shares Outstanding	1,230.9	1,230.9	1,230.9	1,230.9
Implied Stock Price (BRL)	0.00	8.99	52.29	5.97
FX Rate: BRL/BRL	1.00	1.00	1.00	1.00
Implied Stock Price (BRL)	0.00	8.99	52.29	5.97

Upside / (Downside)	-100.00%	50.56%	775.94%


Stock Price	5.97
Stock Price Close	5.97
Restatment Type	Original
Reporting Currency	BRL
Trading Currency	BRL
FX Rate: BRL/BRL	1.00
Market Cap	7,338.5
Shares Outstanding	1,230.9
Share Exchange Ratio	1.0
Liquid Long-term Investments	0

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