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Metalurgica GerdauBSP:GOAU3 +1.38%64 Piotroski F-Score is 6 as of Sep. 02, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates BSP:GOAU3 with a GF Score™ of 64/100 and a GF Value™ of R$8.71 (Fairly Valued). The stock has 8 warning signs investors should review. Among 625 Steel companies, Metalurgica Gerdau ranks better than 75.84% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Metalurgica Gerdau has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Metalurgica Gerdau's Piotroski F-Score or its related term are showing as below:
BSP:GOAU3'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 9
Current: 6
During the past 13 years, the highest Piotroski F-Score of Metalurgica Gerdau was 9. The lowest was 3. And the median was 5.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Metalurgica Gerdau Piotroski F-Score Related Terms
Metalurgica Gerdau Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Metalurgica Gerdau's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BSP:GOAU3 vs NUE, STLD, RS: Piotroski F-Score Comparison
For the Steel subindustry, Metalurgica Gerdau's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Metalurgica Gerdau Piotroski F-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Metalurgica Gerdau's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Metalurgica Gerdau's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 382.3 + -463.101 + 356.454 + 518.83 = R$794 Mil. Cash Flow from Operations was 2924.93 + 3145.814 + 1501.301 + 1534.18 = R$9,106 Mil. Revenue was 17983.143 + 16974.303 + 16715.661 + 17870.632 = R$69,544 Mil. Gross Profit was 2142.092 + 1848.301 + 2293.867 + 2829.188 = R$9,113 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(86914.266 + 87319.904 + 81758.415 + 81113.434 + 82037.333) / 5 = R$83828.6704 Mil. Total Assets at the begining of this year (Jun25) was R$86,914 Mil. Long-Term Debt & Capital Lease Obligation was R$14,063 Mil. Total Current Assets was R$29,503 Mil. Total Current Liabilities was R$10,260 Mil.
Net Income was 458.271 + 109.797 + 257.764 + 299.529 = R$1,125 Mil.
Revenue was 17378.032 + 16822.544 + 17375.336 + 17525.75 = R$69,102 Mil. Gross Profit was 2576.615 + 2020.01 + 1946.553 + 2030.547 = R$8,574 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(82741.56 + 82103.769 + 86948.529 + 85631.889 + 86914.266) / 5 = R$84868.0026 Mil. Total Assets at the begining of last year (Jun24) was R$82,742 Mil. Long-Term Debt & Capital Lease Obligation was R$16,556 Mil. Total Current Assets was R$33,367 Mil. Total Current Liabilities was R$11,534 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Metalurgica Gerdau's current Net Income (TTM) was 794.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Metalurgica Gerdau's return on assets of this year was 0.009141. Metalurgica Gerdau's return on assets of last year was 0.01360092.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Metalurgica Gerdau's gearing of this year was 0.16775311. Metalurgica Gerdau's gearing of last year was 0.19507658.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Metalurgica Gerdau's current ratio of this year was 2.87549874. Metalurgica Gerdau's current ratio of last year was 2.89295694.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Metalurgica Gerdau's number of shares in issue this year was 838.105. Metalurgica Gerdau's number of shares in issue last year was 838.323.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Metalurgica Gerdau's gross margin of this year was 0.13104628. Metalurgica Gerdau's gross margin of last year was 0.12407408.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Metalurgica Gerdau's asset turnover of this year was 0.80014182. Metalurgica Gerdau's asset turnover of last year was 0.83515058.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Metalurgica Gerdau has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Metalurgica Gerdau (BSP:GOAU3) has a Piotroski F-Score of 6 as of Sep. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Metalurgica Gerdau and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Metalurgica Gerdau's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Metalurgica Gerdau ranks #151 out of 625 companies in the Steel industry, placing it in the top 24.2%.
Is Metalurgica Gerdau's Piotroski F-Score too high?
Metalurgica Gerdau's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Steel industry median Piotroski F-Score is 5.00. Metalurgica Gerdau's value of 6 is 20% above this industry median. Based on the distribution chart, Metalurgica Gerdau ranks #151 out of 625 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Metalurgica Gerdau has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Metalurgica Gerdau's Piotroski F-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Metalurgica Gerdau ranks #151 out of 625 companies for Piotroski F-Score. This places Metalurgica Gerdau in the top 24% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Metalurgica Gerdau's value of 6 is 20% above this benchmark. Historically, Metalurgica Gerdau's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Metalurgica Gerdau has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Steel company?
The median Piotroski F-Score among Steel companies is 5.00, based on 625 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Metalurgica Gerdau's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Metalurgica Gerdau and its competitors. For the Steel industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Metalurgica Gerdau's current Piotroski F-Score is 6, which is 20% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Metalurgica Gerdau stock overvalued right now?
Based on GuruFocus' analysis, Metalurgica Gerdau (BSP:GOAU3) is currently considered Fairly Valued. The stock's GF Value™ is R$8.71, compared to a current price of R$9.52 — trading 9.3% above its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Steel industry median of 5.00. Metalurgica Gerdau's overall GF Score™ is 64/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Metalurgica Gerdau (BSP:GOAU3), the current Piotroski F-Score is 6 as of Sep. 02, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Metalurgica Gerdau (BSP:GOAU3) Overvalued in 2026?
Based on GuruFocus' analysis, Metalurgica Gerdau stock appears to be overvalued.
The current stock price of R$9.52 is trading 9.3% above its estimated GF Value™ of R$8.71.
GuruFocus considers Metalurgica Gerdau to be Fairly Valued.
Key valuation signals for BSP:GOAU3:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: R$8.71 vs. price of R$9.52 (9.3% above fair value)
Industry Position: 20% above the Steel median (#151 of 625)
No single metric tells the full story. See the BSP:GOAU3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Metalurgica Gerdau SA produces steel and steel products used in construction, industrial, agricultural and automotive sectors. Its products include steel columns, nails, transfer bars for the construction sector; billet, electrodes, mechanical construction wire rods for the industrial sector; staples, steel posts, tribars, galvanized wires for agricultural sector; mechanical construction ingots, mechanical construction wires, and various other products for the automotive sector. Its revenue is generated by sales of long steel to nonresidential construction and infrastructure sector in North America.
64GF Score
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