SIDCompanhia Siderúrgica Nacional
Is it safe?
Caution warranted: heavy debt (B) and big price swings.
Highly leveraged, watch solvency. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -87% · now 40% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can SID take a bad year?
Companhia Siderúrgica Nacional carries $33.6B of net debt at 4.17× EBITDA: a heavy load to carry through a bad year.
Net debt · as at FY2024 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 4.17×
Net debt / EBITDA · 3.19× a year ago · the load is going up
- Interest cover
- 0.59×
Interest cover · operating profit does not cover the interest bill
- Annualised volatility
- 58%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtFY2024
- $56.9B
- Cash and short-term investments
- $23.3B
- Net debt
- $33.6B
- EBITDA, trailing twelve months
- $8.06B
- Operating profit, trailing twelve months
- $4.27B
- Debt / equity
- 4.64×
- Total debt / EBITDA
- 7.06×
- Annualised volatilitytwo years of daily moves
- 58%
- Worst drawdown on file
- −87%
- Below its 52-week high
- 40%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.