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Basic Materials

CIA SIDERURGICA NACIONAL

CSNA3 — CIA SIDERURGICA NACIONAL

CNPJ 33.042.730/0001-04 · listed classes: CSNA3 · CVM code 4030

A Companhia Siderúrgica Nacional atua nos setores de mineração, siderurgia, logística, cimento e energia.As filed by the company in its registration form (FCA), reference 2026-01-01 · CVM sector: Metalurgia e Siderurgia

1941founded
São Paulo · SPheadquarters
Privadocontrol
Banco Bradesco S.A.share registrar
Forvis Mazars Auditores Independentes - Sociedade Simples Ltda.auditor
csn.com.brinvestor site
R$ 96.3 mavg. daily traded value (63 sessions)

Verdict

Net margin -3.4%; ROIC 6.2%; debt 4.2x EBITDA; P/E does not apply (negative profit); 2025 data, no relevant restatement.

Confidence flag: Clean data

Data for fiscal year 2025, received by the CVM on 2026-03-11; 4 of the 5 core figures published; last restatement recorded in 2015.

Does the company make money?

Is it sound or indebted?

Is the share expensive or cheap relative to the sector and its own history?

Descriptive: number, numeric band and comparison with the sector, the company's own history and the whole universe. Not investment advice. JSON · how the verdict works

Follow CSNA3: get an e-mail when profit turns into loss, debt or margin change band, or the statements are restated. That is all, and you can cancel in one click. See every event already recorded for CSNA3.

Quote

R$ 5.95close of 2026-09-25 · B3 (COTAHIST), updated nightly — the price the API, the MCP and the dump serve

1m +12.9% · 12m -25.2% · YTD -33.4% · 52-week R$ 4.28–10.89

15-minute delayed quote, shown by TradingView — display only: it never enters our API, MCP or dump
Close, daily, 1 year · return -25.2% · not split-adjustedR$ 5.95 2026-09-25
high 2026-01-28: R$ 10.89low 2026-08-11: R$ 4.282026-09-25: R$ 5.95
2025low R$ 4.28 · high R$ 10.892026

Return by window

1 month3 months1 year2 years5 years10 years
Price+12.9%+23.4%-25.2%-51.1%-79.5%-31.7%
With dividends reinvested+12.9%+23.4%-25.2%-48.7%-69.4%+13.9%
Real, net of inflation (IPCA to 08/2026)+13.0%+23.7%-27.9%-53.0%-76.2%-29.3%
R$ 1,000 would be worthR$ 1,129R$ 1,234R$ 748R$ 513R$ 306R$ 1,139

Closing prices from the base up to 2026-09-25. The starting price is adjusted by the corporate actions checked against the price (the small mark says how many); a jump they do not explain leaves the window blank. Reinvestment buys more shares at the close of the ex-date, with no tax or cost; only the main ticker class. The real line divides the reinvested return by the IPCA accumulated in the window (Banco Central series 433, monthly, edge months pro rata by days); the latest month is only published around the 10th of the following month.

Corporate actions

last day with rightseventmultipliercheck
2010-03-25stock split2.00× shareschecked against the price move
2004-05-28reverse split inferred0.00× sharesnot checked
1988-03-14bonus issue inferred10.00× sharesnot checked
1988-03-14bonus issue inferred10.00× sharesnot checked

Why the price chart jumps: prices are not split-adjusted. Inferred means detected from the share count and the price, not announced in the exchange file.

Valuation

Today

R$ 7.9 bnmarket value
close of 2026-09-25 × sharesprice × shares outstanding
R$ 45.8 bnenterprise value
+ net debt 2025market value + net debt
R$ -1.51EPS 2025
profit per sharenet income for the year ÷ shares
R$ 9.71BVPS 2025
book value per shareshareholders' equity ÷ shares
0.65P/B 2T26
latest quarterly balancetoday's market value ÷ equity to controlling shareholders at quarter end
-20.2%ROE 12m
to 2T26net income of the last 12 months ÷ average equity over the same 12 months
-5.8%net margin 12m
to 2T26net income ÷ net revenue, both over the last 12 months
1.33 bnshares outstandinglatest public count, treasury excluded

Snapshot: today's close over the latest public share count. Cards marked 12m use the last four quarterly filings; the others use the 2025 annual filing. The multiples below are point-in-time: priced on the day the filing became public.

At the filing date (point-in-time)

-4.7P/E 2025
price of 2026-03-11 · sector 12.0 · 10 cos. · 1st of 11price ÷ earnings per share for the year
0.7P/B 2025
price of 2026-03-11 · sector 1.2 · 9 cos. · 2th of 10price ÷ book value per share
5.3EV/EBITDA 2025
price of 2026-03-11 · sector 6.1 · 9 cos. · 3th of 10enterprise value on the filing date ÷ EBITDA for the year (other sites use trailing 12 months and today's price)
-73.1%FCF yield 2025
price of 2026-03-11 · sector 7.9% · 9 cos. · 10th of 10(operating cash flow + capex) ÷ market value
-15.9%ROE 2025
sector 6.1% · 24 cos. · 21th of 25net income to controlling ÷ average equity
6.2%ROIC 2025
sector 7.8% · 16 cos. · 12th of 17EBIT × (1 − effective tax rate) ÷ average invested capital (gross debt + total equity − cash − investments), goodwill included — /metodologia/roic
P/E, P/B and EV/EBITDA use the price of 2026-03-11 (R$ 7.13), the first one after the 2025 filing became public on 2026-03-11 — point-in-time, not the 31 December price. 1 caveat

By theme, fiscal year 2025

Valuation

P/Receita todaymarket value ÷ net revenue for the year0.18×
EV/Receita todayenterprise value ÷ net revenue1.02×
P/EBITDA todaymarket value ÷ EBITDA0.88×
P/EBIT todaymarket value ÷ EBIT1.64×
EV/EBIT todayenterprise value ÷ EBIT9.50×
Earning yield todaynet income ÷ market value (the inverse of P/E)-25.4%

Debt and liquidity

Dívida líquida/PLnet debt ÷ shareholders' equity2.41×
Dívida bruta/PLshort- and long-term borrowings ÷ equity3.36×
Dívida líquida/EBITDAnet debt ÷ EBITDA for the year4.22×
PL/Ativosequity ÷ total assets0.16×
Passivos/Ativos(total assets − equity) ÷ total assets0.84×
Liquidez correntecurrent assets ÷ current liabilities1.08×

Efficiency

Margem brutagross profit ÷ net revenue27.7%
Margem EBITDAEBITDA ÷ net revenue20.0%
Margem EBITEBIT ÷ net revenue10.8%
Margem líquidanet income ÷ net revenue-3.4%

Profitability

ROEnet income to controlling ÷ average equity-15.9%
ROICEBIT × (1 − effective tax rate) ÷ average invested capital (gross debt + total equity − cash − investments), goodwill included6.2%
ROAnet income ÷ total assets-1.5%
Giro do ativonet revenue ÷ total assets0.45×

Growth

Receita, 1 anorevenue this year ÷ previous year − 12.5%
Receita, CAGR 5 anoscompound annual growth of revenue over 5 years8.3%
EBITDA, CAGR 5 anoscompound annual growth of EBITDA over 5 years (positive at both ends only)1.7%

Standardized accounts and published indicators of the fiscal year; items marked today divide today's market value or enterprise value by an account of that year.

Indicators, year by year

Four indicators as charts and the full table below. A hollow point carries a caveat; a gap is a year without the figure — we never draw a line across a hole. In the table, the arrow opens the path from the figure down to the line in the regulator's file; a cell with ! carries a caveat; a dashed dash is a suppressed figure — hover to see why. Nothing is hidden.

Fact checklist 4 of 9

Nine objective checks with the threshold written in each line and the figure behind it. Descriptive, not a recommendation; the thresholds are ours and are declared.

ROE-15.9% 2025
2010: 33.0% — pl_final_sem_media2011: 47.5%2012: -5.1%2013: 6.1%2014: -1.5%2015: 24.2%2016: -13.5%2017: 0.2%2018: 64.5%2019: 19.0%2020: 37.8%2021: 81.1%2022: 7.8%2023: -1.7%2024: -17.4%2025: -15.9%
20102025
ROIC6.2%! 2025
2010: 23.1% — capital_final_sem_media2011: 29.2%2012: 1.9% — aliq_fallback_342013: 10.8%2014: 7.1% — aliq_fallback_342015: 15.1%2016: 3.9% — aliq_fallback_342017: 5.0% — aliq_travada_452018: 19.1%2019: 9.9% — aliq_travada_02020: 14.6%2021: 43.3%2022: 9.8% — aliq_travada_452023: 5.9% — aliq_travada_452024: 5.9% — aliq_fallback_342025: 6.2% — aliq_fallback_34
20102025
Net margin-3.4% 2025
2010: 17.4%2011: 22.2%2012: -2.8%2013: 3.1%2014: -0.7%2015: 10.5%2016: -5.0%2017: 0.6%2018: 22.6%2019: 8.8%2020: 14.3%2021: 28.4%2022: 4.9%2023: 0.9%2024: -3.5%2025: -3.4%
20102025
Point-in-time P/E-4.7x! 2025
2011: 7.5x — acoes_do_fre_sem_tesouraria;acoes_defasadas2012: -31.7x — acoes_do_fre_sem_tesouraria;acoes_defasadas;pl_negativo2013: 29.3x — acoes_do_fre_sem_tesouraria;acoes_defasadas2014: -74.1x — acoes_do_fre_sem_tesouraria;acoes_defasadas;pl_negativo2015: 9.4x — acoes_do_fre_sem_tesouraria2016: -12.7x — acoes_do_fre_sem_tesouraria;acoes_defasadas;pl_negativo2017: 1164.4x — acoes_do_fre_sem_tesouraria;pl_extremo2018: 2.9x — acoes_do_fre_sem_tesouraria;acoes_defasadas2019: 9.6x — acoes_do_fre_sem_tesouraria;acoes_defasadas2020: 13.0x2021: 3.1x2022: 12.6x2023: -69.4x — pl_negativo2024: -4.3x — pl_negativo2025: -4.7x — pl_negativo
20102025

Full table

indicator2010201120122013201420152016201720182019202020212022202320242025sector
ROE ⟶33.0%!47.5%-5.1%6.1%-1.5%24.2%-13.5%0.2%64.5%19.0%37.8%81.1%7.8%-1.7%-17.4%-15.9%6.1%
ROIC ⟶23.1%!29.2%1.9%!10.8%7.1%!15.1%3.9%!5.0%!19.1%9.9%!14.6%43.3%9.8%!5.9%!5.9%!6.2%!7.8%
ROA ⟶6.7%!8.7%-1.0%1.1%-0.2%3.3%-1.8%0.2%11.2%4.6%7.5%19.1%2.6%0.5%-1.6%-1.5%2.9%
Gross margin ⟶46.8%40.7%28.6%28.2%28.1%23.0%26.3%26.6%29.9%32.1%36.4%46.1%30.0%26.3%26.8%27.7%21.3%
EBIT margin ⟶34.6%34.8%3.8%18.0%17.5%33.8%11.3%16.1%30.2%13.9%19.0%42.9%17.2%11.4%9.8%10.8%6.4%
Net margin ⟶17.4%22.2%-2.8%3.1%-0.7%10.5%-5.0%0.6%22.6%8.8%14.3%28.4%4.9%0.9%-3.5%-3.4%5.0%
Revenue growth (1y) ⟶—14.3%2.3%13.7%-6.9%-4.9%12.4%8.0%24.0%10.7%18.2%59.4%-7.4%2.4%-3.9%2.5%4.4%
Revenue growth (5y CAGR) ⟶—————1.2%0.8%4.0%5.8%9.5%14.5%22.8%19.1%14.6%11.4%8.3%10.2%
Net debt/EBITDA ⟶1.70x1.86x8.39x4.15x5.17x4.04x7.59x5.72x3.12x4.79x2.62x0.58x2.61x3.18x4.06x4.22x1.05x
Current ratio ⟶3.54x3.38x3.30x2.95x2.50x3.09x2.26x1.11x1.05x1.10x1.59x1.43x1.36x1.32x1.58x1.08x2.06x

In reais, year by year

The three statements behind the ratios — income statement, balance sheet and cash flow — in the standardized lines, consolidated as filed (or parent-only when that is what the company files). EBITDA and net debt follow the published methodology; gross debt, cash and investments and free cash flow are sums the line names spell out.

line20102011201220132014201520162017201820192020202120222023202420252T26TTM
Income statement
Net revenue (R$ bn)14.516.516.917.316.115.317.118.523.025.430.147.944.445.443.744.811.345.1
Cost of goods and services (R$ bn)-7.7-9.8-12.1-12.4-11.6-11.8-12.6-13.6-16.1-17.3-19.1-25.8-31.1-33.5-32.0-32.4-8.4-32.5
Gross profit (R$ bn)6.86.74.84.94.53.54.54.96.98.210.922.113.312.011.712.42.912.6
EBITDA (R$ bn)5.86.71.94.34.16.43.34.48.25.18.222.810.58.68.19.0——
Depreciation and amortization (R$ bn)0.80.91.21.21.31.21.31.51.31.52.52.22.93.43.84.2——
EBIT (operating result) (R$ bn)5.05.80.63.12.85.21.93.06.93.55.720.57.65.24.34.80.83.3
Pre-tax profit (R$ bn)3.13.8-1.40.6-0.31.8-0.60.55.51.44.918.64.11.0-1.5-1.7-1.1-2.6
Income taxes (R$ bn)-0.6-0.10.9-0.10.2-0.2-0.3-0.4-0.30.8-0.6-5.0-2.0-0.60.00.20.30.6
Net income (R$ bn)2.53.7-0.50.5-0.11.6-0.90.15.22.24.313.62.20.4-1.5-1.5-0.8-2.0
Net income (controlling) (R$ bn)2.53.7-0.40.5-0.11.6-0.90.05.11.83.812.31.6-0.3-2.6-2.0-0.8-2.6
Balance sheet
Total assets (R$ bn)37.846.949.350.449.848.644.245.247.350.963.079.485.491.5103.9100.6100.6100.6
Current assets (R$ bn)15.821.921.116.415.916.412.411.912.012.723.435.030.633.139.830.329.729.7
Current liabilities (R$ bn)4.56.56.45.66.45.35.510.711.411.614.724.522.525.025.128.125.925.9
Gross debt (short + long term) (R$ bn)20.127.930.227.729.934.330.429.528.828.035.332.540.944.956.952.953.453.4
Cash and investments (R$ bn)10.215.414.410.08.78.65.64.13.13.713.719.313.417.624.215.114.314.3
Net debt (R$ bn)9.912.515.717.821.225.724.825.425.724.221.513.227.527.332.737.9——
Shareholders' equity (R$ bn)7.88.49.08.15.78.77.48.310.011.411.323.421.819.715.515.715.215.2
Cash flow
Operating cash flow (R$ bn)2.54.23.52.21.25.10.30.62.24.99.614.82.07.38.7-1.0——
Capital expenditures (R$ bn)-3.7-4.4-3.1-2.5-1.8-1.6-1.6-1.1-1.3-2.2-1.7-2.9-3.4-4.4-5.5-5.9——
Free cash flow (FCO + capex) (R$ bn)-1.2-0.20.3-0.3-0.73.5-1.4-0.50.92.77.911.9-1.32.93.2-6.9——

The two right-hand columns come from the quarterly filing (ITR): the latest quarter alone and the last 12 months (TTM) built by the same identity as the TTM P/E. EBITDA and net debt have no quarterly series here.

The current year, quarter by quarter

As the company filed it in its interim report. The fourth quarter does not exist on its own in that filing — the closed year comes in the annual one, and we do not derive a Q4, so that a figure we computed never sits beside the figures the company reported. Filed on is the date the report became public, and the price is taken from it.

quarterrevenue (R$ m)profit (R$ m)net marginP/E TTMP/Bfiled on
2024T1!9,713.0-479.7-4.9%995.51.062024-05-09
2024T2!10,881.7-222.6-2.0%-22.31.102024-08-12
2024T3!11,066.6-750.9-6.8%-10.81.112024-11-27
2025T1!10,907.6-731.6-6.7%-4.90.982025-05-08
2025T2!10,693.3-130.4-1.2%-4.70.762025-07-31
2025T3!11,793.976.40.6%-7.80.862025-11-04
2026T1!10,603.8-555.0-5.2%-4.20.662026-05-13
2026T2!11,306.2-773.1-6.8%-2.20.472026-08-12

Full series, every quarter: GET /empresas/CSNA3/trimestres

Dividends

No ex-date or payment scheduled in the base (exchange announcements through 2026-09-21 · filings to the regulator through 2026-09-18).

The latest dividend by CSNA3 was a dividend of R$ 0.5505 per share (record date 2024-11-21). In the last 12 months: 0 payments adding up to R$ 0.0000 per share. Average yield of the last 5 full years: 12.4%.

typerecord dateex-datepaymentper share
dividend2024-11-212024-11-22—R$ 0.5505
dividend2024-05-142024-05-15—R$ 0.7164
dividend2023-11-202023-11-21—R$ 0.7428
dividend2023-04-282023-05-02—R$ 0.6311
dividend2023-04-282023-05-02—R$ 0.5860
JCP2022-12-282022-12-29—R$ 0.5279
dividend2022-11-252022-11-28—R$ 1.1795
dividend2022-04-292022-05-02—R$ 0.6816
JCP2022-01-042022-01-05—R$ 0.1915
dividend2021-07-302021-08-02—R$ 1.2680
dividend2021-04-302021-05-03—R$ 0.6529
dividend2020-05-062020-05-07—R$ 0.0089
dividend2019-09-232019-09-24—R$ 0.2990
dividend2019-05-022019-05-03—R$ 0.6509
dividend2015-03-112015-03-12—R$ 0.2026
dividend2014-12-302015-01-02—R$ 0.2024
dividend2014-02-282014-03-05—R$ 0.2915
JCP2013-11-132013-11-14—R$ 0.0686
dividend2013-11-132013-11-14—R$ 0.2744
JCP2013-08-072013-08-08—R$ 0.0617
dividend2013-08-072013-08-08—R$ 0.1440
JCP2013-04-012013-04-02—R$ 0.3841
dividend2012-12-272012-12-28—R$ 0.2058
dividend2012-04-272012-04-30—R$ 0.8231

Ex-date is the first trading session after the record date, from our own price history. Payment date comes from the exchange file; CVM marks a date taken from the filing to the regulator. Only the main ticker class.

Record dates in the last 5 years, by month: Jan1FebMarApr3May1JunJulAugSepOctNov3Dec1

Per year

yearper sharepaymentsyield
2024R$ 1.2669214.3%
2023R$ 1.9599310.0%
2022R$ 2.5805417.7%
2021R$ 1.921027.7%
2020R$ 0.008910.0%
2019R$ 0.949926.7%
2015R$ 0.202615.1%
2014R$ 0.493928.9%
2013R$ 0.932856.5%
2012R$ 1.028828.7%

Yield per year = the year's dividends over the close of its last session; the current year is partial.

Shareholders and free float

54.86%free float
727,462,410 sharesshares outstanding held by the market, as filed in the FRE
89,261shareholders
87,323 individuals · 893 companies · 1,045 institutionalcount at the last shareholders meeting, from the FRE
VICUNHA AÇOS S.A. +1controlling shareholder
as declared in the FREshareholders the company marks as controlling
80% ONtag along (minimum)
no listing segment on fileminimum guaranteed by the listing segment or by law; the bylaws may grant more
shareholdertype% ON% PN% total
VICUNHA AÇOS S.A. ctrl agreementPJ41.66%0.00%41.66%
CFL Ana Participações S.A. agreementPJ4.57%0.00%4.57%
RIO IACO PARTICIPAÇÕES S.A. ctrlPJ3.45%0.00%3.45%
AVELINA PARTICIPAÇÕES S.A. agreementPJ3.18%0.00%3.18%
Others (market)———47.15%
Treasury shares———0.00%

Direct holdings from the reference form (FRE) filed on 2026-09-14, version 5. The chain of control (who owns the holding) is not reproduced here. Names of individuals appear as in the public filing.

Filings and notices

filedcategorysubjectdocument
2026-09-10Valores Mobiliários negociados e detidos (art. 11 da Instr. CVM nº 358) · Posição Individual - Cia, Controladas e Coligadas—open
2026-09-10Valores Mobiliários negociados e detidos (art. 11 da Instr. CVM nº 358) · Posição Consolidada—open
2026-09-04Comunicação sobre Transação entre Partes RelacionadasComunicado sobre transação entre partes relacionadas - CSN e MRSopen
2026-09-03Reunião da Administração · Conselho de AdministraçãoEleição de Diretor(es)||Eleição de Presidente do Conselho de Administraçãoopen
2026-09-02Fato RelevanteEleição do Presidente do Conselhoopen
2026-08-27Dados Econômico-Financeiros · Demonstrações Financeiras AdicionaisDemonstrações Financeiras em Padrões Internacionaisopen
2026-08-20Reunião da Administração · Conselho de AdministraçãoRedefinição das atribuições de Diretor Executivoopen
2026-08-13Comunicado ao Mercado · Apresentações a analistas/agentes do mercado2T26 Apresentação de Resultadosopen
2026-08-12Dados Econômico-Financeiros · Press-release2T25 Release de Resultadosopen
2026-08-12Dados Econômico-Financeiros · Demonstrações Financeiras IntermediáriasDemonstrações Financeiras Intermediáriasopen

The last filings this company sent to the CVM outside its financial statements, newest first, from the regulator's own IPE index. The subject line is the company's own free text. We do not summarise or classify these documents — read the original.

Piotroski F-Score 5/9 (2025) — what each criterion means.

Restated filings for this company

The regulator overwrites the old version; we keep both. Figures in R$ millions: first filing on the left, restatement on the right.

fiscal yearaccountfirst filingrestated
2012BPA 149,295.253,283.3
2012BPP 249,295.253,283.3
2015DRE 3.091,616.0-1,217.9
2015DMPL 5.05.011,616.0-1,216.0
2015DRE 3.111,616.0-1,216.0
2015DRE 3.11.011,617.8-1,214.1
2015DRE 3.08-188.6-2,903.2
2012BPA 1.01.0114,444.911,891.8

Every restatement of this company, year by year

This company appears in

Compare

Side by side, with each figure's caveat and how often each company restated its filings.

CSNA3 × VALE3 · CSNA3 × SUZB3 · CSNA3 × GGBR4 · CSNA3 × BRKM5 · CSNA3 × CMIN3 · CSNA3 × KLBN11

compare with the sector: GGBR4 × CSNA3 × USIM5

Other companies in Basic Materials

31 more with a page, same CVM sector — a classification of the regulator's, not ours.

Take this into your code

Everything on this page is also JSON: GET /empresas/CSNA3/indicadores. WEGE3 is open for testing without a key; for the rest, create a free key (200 calls/day, no card).

Price coverage: 4,151 sessions, 2010-01-04 → 2026-09-25 · methodology · how we verify

Sources: CVM (open data, ODbL) and B3 (COTAHIST). Not affiliated with B3 or the CVM. Not investment advice.

Numbers on this page are live. Data version 2026-09-27-reapresentacao-agreg · page generated 2026-09-27 08:45 UTC. If this does not match /saude, you are reading a cached copy.