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Companhia Siderurgica Nacional (MEX:SID N) Piotroski F-Score : 5 (As of Jul. 13, 2025)


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What is Companhia Siderurgica Nacional Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Companhia Siderurgica Nacional 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 Companhia Siderurgica Nacional's Piotroski F-Score or its related term are showing as below:

MEX:SID N' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of Companhia Siderurgica Nacional was 9. The lowest was 3. And the median was 5.


Companhia Siderurgica Nacional Piotroski F-Score Historical Data

The historical data trend for Companhia Siderurgica Nacional'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.

* Premium members only.

Companhia Siderurgica Nacional Piotroski F-Score Chart

Companhia Siderurgica Nacional Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 8.00 4.00 4.00 5.00

Companhia Siderurgica Nacional Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 4.00 4.00 5.00 5.00

Competitive Comparison of Companhia Siderurgica Nacional's Piotroski F-Score

For the Steel subindustry, Companhia Siderurgica Nacional'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.


Companhia Siderurgica Nacional's Piotroski F-Score Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Companhia Siderurgica Nacional's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Companhia Siderurgica Nacional's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was -1798.571 + -2987.917 + -2163.968 + -2199.79 = MXN-9,150 Mil.
Cash Flow from Operations was 7664.243 + 12321.264 + 12128.559 + -4098.657 = MXN28,015 Mil.
Revenue was 37012.792 + 39348.56 + 41110.236 + 38754.182 = MXN156,226 Mil.
Gross Profit was 10166.819 + 9719.896 + 12931.929 + 8996.915 = MXN41,816 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(306087.732 + 317767.195 + 344459.892 + 355195.215 + 354435.435) / 5 = MXN335589.0938 Mil.
Total Assets at the begining of this year (Mar24) was MXN306,088 Mil.
Long-Term Debt & Capital Lease Obligation was MXN169,735 Mil.
Total Current Assets was MXN126,373 Mil.
Total Current Liabilities was MXN77,203 Mil.
Net Income was 648.51 + -544.854 + 2006.047 + -1965.305 = MXN144 Mil.

Revenue was 38814.97 + 39238.204 + 41589.024 + 32370.636 = MXN152,013 Mil.
Gross Profit was 7924.161 + 9894.369 + 12709.696 + 7302.059 = MXN37,830 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(299675.72 + 296226.967 + 311822.677 + 317083.997 + 306087.732) / 5 = MXN306179.4186 Mil.
Total Assets at the begining of last year (Mar23) was MXN299,676 Mil.
Long-Term Debt & Capital Lease Obligation was MXN126,618 Mil.
Total Current Assets was MXN108,370 Mil.
Total Current Liabilities was MXN83,826 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.

Companhia Siderurgica Nacional's current Net Income (TTM) was -9,150. ==> Negative ==> Score 0.

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.

Score 1 if positive, 0 if negative.

Companhia Siderurgica Nacional's current Cash Flow from Operations (TTM) was 28,015. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=-9150.246/306087.732
=-0.02989419

ROA (Last Year)=Net Income/Total Assets (Mar23)
=144.398/299675.72
=0.00048185

Companhia Siderurgica Nacional's return on assets of this year was -0.02989419. Companhia Siderurgica Nacional's return on assets of last year was 0.00048185. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Companhia Siderurgica Nacional's current Net Income (TTM) was -9,150. Companhia Siderurgica Nacional's current Cash Flow from Operations (TTM) was 28,015. ==> 28,015 > -9,150 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=169734.84/335589.0938
=0.50578175

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=126617.841/306179.4186
=0.41354132

Companhia Siderurgica Nacional's gearing of this year was 0.50578175. Companhia Siderurgica Nacional's gearing of last year was 0.41354132. ==> Last year is lower than this year ==> Score 0.

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

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=126372.829/77203.028
=1.63688954

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=108369.932/83826.475
=1.29278885

Companhia Siderurgica Nacional's current ratio of this year was 1.63688954. Companhia Siderurgica Nacional's current ratio of last year was 1.29278885. ==> This year's current ratio is higher. ==> Score 1.

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.

Companhia Siderurgica Nacional's number of shares in issue this year was 1326.094. Companhia Siderurgica Nacional's number of shares in issue last year was 1326.094. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=41815.559/156225.77
=0.26766108

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=37830.285/152012.834
=0.24886244

Companhia Siderurgica Nacional's gross margin of this year was 0.26766108. Companhia Siderurgica Nacional's gross margin of last year was 0.24886244. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=156225.77/306087.732
=0.5103954

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=152012.834/299675.72
=0.50725776

Companhia Siderurgica Nacional's asset turnover of this year was 0.5103954. Companhia Siderurgica Nacional's asset turnover of last year was 0.50725776. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+0+1+1+1+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Companhia Siderurgica Nacional has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Companhia Siderurgica Nacional  (MEX:SID N) Piotroski F-Score Explanation

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.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

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.


Companhia Siderurgica Nacional Piotroski F-Score Related Terms

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Companhia Siderurgica Nacional Business Description

Traded in Other Exchanges
Address
Avenue Brigadeiro Faria Lima, 3400, 20th Floor, Sao Paulo, SP, BRA, 04538-132
Companhia Siderurgica Nacional is an integrated steel producer. together with its subsidiaries operates in five main business segments: Steel industry: production and marketing of flat and long steels; Mining: extraction, processing and marketing of iron ore, tin, limestone and dolomite; Cement: production and commercialization of bagged and bulk cement, in addition to aggregates, concrete, and other related products; Energy: generation and sale of energy from almost all renewable sources; and Logistics: participations in railways and port terminals. The group generates the majority of its revenue from the Steel industry segment. Geographically, it derives a majority of revenue from Asia.

Companhia Siderurgica Nacional Headlines

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