Usinas Siderurgicas de Minas Gerais (BSP:USIM3) Shiller PE Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:USIM3 Usinas Siderurgicas de Minas Gerais SA BSP:USIM3
62 GF Score
Price R$6.48
GF Value R$5.87
Valuation Fairly Valued
! 5 Warning Signs
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What is Usinas Siderurgicas de Minas Gerais Shiller PE Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Usinas Siderurgicas de Minas Gerais  (BSP:USIM3) Shiller PE Ratio Explanation

Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.

Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.


Be Aware

Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.


Usinas Siderurgicas de Minas Gerais Shiller PE Ratio Related Terms


Usinas Siderurgicas de Minas Gerais Shiller PE Ratio Historical Data

* Premium members only.

The historical data trend for Usinas Siderurgicas de Minas Gerais's Shiller PE Ratio 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.

Usinas Siderurgicas de Minas Gerais Shiller PE Ratio Chart

Usinas Siderurgicas de Minas Gerais Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Shiller PE Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 53.53 13.57 12.96 7.49 5.84

Usinas Siderurgicas de Minas Gerais Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Shiller PE Ratio 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 6.87 4.43 5.10 5.63 5.71

BSP:USIM3 vs NUE, STLD, RS: Shiller PE Ratio Comparison

For the Steel subindustry, Usinas Siderurgicas de Minas Gerais's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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.


Usinas Siderurgicas de Minas Gerais Shiller PE Ratio vs Steel Industry

For the Steel industry and Basic Materials sector, Usinas Siderurgicas de Minas Gerais's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Usinas Siderurgicas de Minas Gerais's Shiller PE Ratio falls into.


BSP:USIM3
62GF Score
Usinas Siderurgicas de Minas Gerais SA BSP:USIM3
Shiller PE Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Usinas Siderurgicas de Minas Gerais Shiller PE Ratio Calculation

For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Usinas Siderurgicas de Minas Gerais's E10 for the quarter that ended in Mar. 2026 is calculated as:

For example, Usinas Siderurgicas de Minas Gerais's adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.6267/175.0655*175.0655
=0.627

Current CPI (Mar. 2026) = 175.0655.

Usinas Siderurgicas de Minas Gerais Quarterly Data

Earnings per Share (Diluted) CPI Adj_EPS
201606 -0.126 108.851 -0.203
201609 -0.093 109.986 -0.148
201612 -0.223 110.802 -0.352
201703 0.072 111.869 0.113
201706 0.095 112.115 0.148
201709 0.063 112.777 0.098
201712 -0.041 114.068 -0.063
201803 0.114 114.868 0.174
201806 -0.026 117.038 -0.039
201809 0.215 117.881 0.319
201812 0.289 118.340 0.427
201903 0.038 120.124 0.056
201906 0.107 120.977 0.155
201909 -0.150 121.292 -0.216
201912 0.178 123.436 0.253
202003 -0.388 124.092 -0.547
202006 -0.380 123.557 -0.538
202009 0.046 125.095 0.065
202012 1.267 129.012 1.719
202103 0.757 131.660 1.007
202106 3.387 133.871 4.429
202109 1.270 137.913 1.611
202112 1.957 141.992 2.412
202203 0.968 146.537 1.156
202206 0.722 149.784 0.844
202209 0.420 147.800 0.497
202212 -0.798 150.207 -0.930
202303 0.385 153.352 0.440
202306 0.207 154.519 0.234
202309 -0.172 155.464 -0.194
202312 0.711 157.148 0.792
202403 0.012 159.372 0.013
202406 -0.112 161.052 -0.122
202409 0.133 162.342 0.143
202412 -0.149 164.740 -0.158
202503 0.244 168.102 0.255
202506 0.077 169.670 0.080
202509 -2.876 170.739 -2.949
202512 0.053 171.765 0.054
202603 0.627 175.066 0.627

Add all the adjusted EPS together and divide 10 will get our E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Usinas Siderurgicas de Minas Gerais (BSP:USIM3) Overvalued in 2026?

Based on GuruFocus' analysis, Usinas Siderurgicas de Minas Gerais stock appears to be overvalued. The current stock price of R$6.48 is trading 10.4% above its estimated GF Value™ of R$5.87. GuruFocus considers Usinas Siderurgicas de Minas Gerais to be Fairly Valued.

Key valuation signals for BSP:USIM3:

  • Shiller PE Ratio:
  • GF Value™: R$5.87 vs. price of R$6.48 (10.4% above fair value)
  • GF Score™: 62/100 with 5 warning signs

No single metric tells the full story. See the BSP:USIM3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Usinas Siderurgicas de Minas Gerais Business Description

Address Av. do Contorno, 6594, 11th Floor Funcionarios, Belo Horizonte, MG, BRA, 30110-044
Usinas Siderurgicas de Minas Gerais SA is a Brazil-based company engaged in producing and distributing flat steel products. The company's product portfolio comprises ordinary heavy plates, Sincron series premium heavy plates, hot strips, cold-rolled, and galvanized products. These products are used in automotive, civil construction, railway, electric, white goods, offshore platforms, and agricultural and construction machinery. The Brazilian domestic market represents the majority of the company's sales, while the United States, Argentina, and Turkey are the export destination markets for the company.
62GF Score

Get the complete analysis for BSP:USIM3

Shiller PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$6.48
Price
R$5.87
GF Value