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Metalurgica GerdauBSP:GOAU4 +1.05%54 Return-on-Tangible-Equity is 21.44% as of Mar. 2026, which is 58% below its 10-year median of 51.37. GuruFocus rates BSP:GOAU4 with a GF Score™ of 54/100 and a GF Value™ of R$7.44 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 615 Steel companies, Metalurgica Gerdau ranks better than 71.22% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Metalurgica Gerdau's annualized net income for the quarter that ended in Mar. 2026 was R$1,426 Mil. Metalurgica Gerdau's average shareholder tangible equity for the quarter that ended in Mar. 2026 was R$6,650 Mil. Therefore, Metalurgica Gerdau's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 21.44%.
The historical rank and industry rank for Metalurgica Gerdau's Return-on-Tangible-Equity or its related term are showing as below:
BSP:GOAU4'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.79 Med: 51.37 Max: 1302.82
Current: 8.74
During the past 13 years, Metalurgica Gerdau's highest Return-on-Tangible-Equity was 1,302.82%. The lowest was 7.79%. And the median was 51.37%.
BSP:GOAU4's Return-on-Tangible-Equity is ranked better than 71.22% of 615
companies
in the Steel industry
Industry Median: 4.23
vs BSP:GOAU4: 8.74
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Metalurgica Gerdau Return-on-Tangible-Equity Related Terms
Metalurgica Gerdau Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Metalurgica Gerdau's Return-on-Tangible-Equity 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:GOAU4 vs NUE, STLD, RS: Return-on-Tangible-Equity Comparison
For the Steel subindustry, Metalurgica Gerdau's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, Metalurgica Gerdau's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Metalurgica Gerdau's Return-on-Tangible-Equity 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 21.44% mean?
Metalurgica Gerdau (BSP:GOAU4) has a Return-on-Tangible-Equity of 21.44% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Metalurgica Gerdau and its competitors. This is 58% below median its historical median of 51.37. Over the past decade, Metalurgica Gerdau's Return-on-Tangible-Equity has ranged from 7.79 to 1,302.82. According to the industry distribution chart, Metalurgica Gerdau ranks #177 out of 615 companies in the Steel industry, placing it in the top 28.8%.
Is Metalurgica Gerdau's Return-on-Tangible-Equity too high?
Metalurgica Gerdau's current Return-on-Tangible-Equity of 21.44% is 58% below median its 10-year median of 51.37. Over the past 10 years, this metric has ranged from a low of 7.79 to a high of 1,302.82. The Steel industry median Return-on-Tangible-Equity is 4.23. Metalurgica Gerdau's value of 21.44% is 406.9% above this industry median. Based on the distribution chart, Metalurgica Gerdau ranks #177 out of 615 companies in the Steel industry, which is above the industry midpoint. Overall, Metalurgica Gerdau has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Metalurgica Gerdau's Return-on-Tangible-Equity compare to NUE and STLD?
According to the Steel industry distribution chart, Metalurgica Gerdau ranks #177 out of 615 companies for Return-on-Tangible-Equity. This puts Metalurgica Gerdau in the upper half of its industry. The industry median Return-on-Tangible-Equity is 4.23. Metalurgica Gerdau's value of 21.44% is 406.9% above this benchmark. Historically, Metalurgica Gerdau's own Return-on-Tangible-Equity has ranged from 7.79 to 1,302.82 over the past decade. While the company's 10-year median is 51.37 vs. the industry median of 4.23, 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 Return-on-Tangible-Equity for a Steel company?
The median Return-on-Tangible-Equity among Steel companies is 4.23, based on 615 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Metalurgica Gerdau's current Return-on-Tangible-Equity of 21.44% is 406.9% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Metalurgica Gerdau and its competitors. For the Steel industry, the median Return-on-Tangible-Equity is 4.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Metalurgica Gerdau's current Return-on-Tangible-Equity is 21.44%, which is 58% below median its own 10-year median of 51.37. 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:GOAU4) is currently considered Significantly Overvalued. The stock's GF Value™ is R$7.44, compared to a current price of R$11.53 — trading 55% above its estimated fair value. The current Return-on-Tangible-Equity is 21.44%, which is 58% below median its 10-year median of 51.37 and 406.9% above the Steel industry median of 4.23. Metalurgica Gerdau's overall GF Score™ is 54/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Metalurgica Gerdau (BSP:GOAU4), the current Return-on-Tangible-Equity is 21.44% as of Mar. 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:GOAU4) Overvalued in 2026?
Based on GuruFocus' analysis, Metalurgica Gerdau stock appears to be overvalued.
The current stock price of R$11.53 is trading 55% above its estimated GF Value™ of R$7.44.
GuruFocus considers Metalurgica Gerdau to be Significantly Overvalued.
Key valuation signals for BSP:GOAU4:
Return-on-Tangible-Equity: 21.44% (58% below median its 10-year median of 51.37)
GF Value™: R$7.44 vs. price of R$11.53 (55% above fair value)
Industry Position: 406.9% above the Steel median (#177 of 615)
No single metric tells the full story. See the BSP:GOAU4 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.
54GF Score
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