Gerdau SA ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Gerdau SA ADR reported revenue of $69.9B (+4.2% year on year) and net income of $1.4B (-69.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| NET SALES | $69.9B | $67.0B | $68.9B | $82.4B |
| Cost of sales | ($61.9B) | ($57.8B) | ($57.6B) | ($63.7B) |
| GROSS PROFIT | $8.0B | $9.2B | $11.3B | $18.8B |
| Selling expenses | ($782.4M) | ($762.6M) | ($716.2M) | ($733.0M) |
| General and administrative expenses | ($1.3B) | ($1.4B) | ($1.5B) | ($1.5B) |
| Other operating income | $164.5M | $306.4M | $1.0B | $246.3M |
| Other operating expenses | ($393.0M) | ($999.0M) | ($522.5M) | ($210.0M) |
| Impairment of financial assets | ($10.2M) | ($30.9M) | ($10.7M) | ($81.0K) |
| Impairment of assets | ($2.0B) | ($199.6M) | — | — |
| Equity in earnings of unconsolidated companies | $95.6M | $464.5M | $827.6M | $1.2B |
| INCOME BEFORE FINANCIAL INCOME (EXPENSES) AND TAXES | $3.7B | $7.5B | $10.5B | $17.8B |
| Financial income | $693.6M | $726.2M | $903.0M | $606.4M |
| Financial expenses | ($2.1B) | ($1.5B) | ($1.4B) | ($1.6B) |
| Exchange variations, net | $210.8M | ($1.1B) | ($850.4M) | ($974.7M) |
| (Losses) Gains on financial instruments, net | ($45.6M) | ($176.9M) | ($15.0M) | $39.1M |
| INCOME BEFORE TAXES | $2.5B | $5.5B | $9.3B | $15.9B |
| Current | ($1.1B) | ($1.2B) | ($1.8B) | ($3.7B) |
| Deferred | $13.4M | $295.0M | $837.0K | ($670.1M) |
| Income and social contribution taxes | ($1.1B) | ($864.7M) | ($1.8B) | ($4.4B) |
| Owners of the parent | $1.4B | $4.6B | $7.5B | $11.4B |
| Non-controlling interests | $31.4M | $32.7M | $35.4M | $54.0M |
| NET INCOME | $1.4B | $4.6B | $7.5B | $11.5B |
| Basic earnings per share - (R$) | $1.38 | $4.36 | $8.58 | $13.06 |
| Diluted earnings per share - (R$) | $1.38 | $4.36 | $8.52 | $6.50 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $5.9B | $7.8B | $3.0B | $2.5B |
| Short-term investments | $445.6M | $509.0M | $2.3B | $3.0B |
| Trade accounts receivable - net | $4.8B | $5.2B | $4.9B | $5.0B |
| Inventories | $14.7B | $16.5B | $15.2B | $17.8B |
| Tax credits | $1.3B | $1.2B | $1.0B | $1.4B |
| Income and social contribution taxes recoverable | $685.8M | $914.4M | $986.1M | $815.2M |
| Dividends receivable | $5.0M | $125.0K | $1.0M | $5.0M |
| Fair value of derivatives | $36.6M | $16.9M | $766.0K | $3.3M |
| Other current assets | $678.9M | $626.1M | $543.3M | $789.9M |
| TOTAL CURRENT ASSETS | $28.6B | $32.7B | $29.2B | $31.3B |
| Tax credits | $1.4B | $1.7B | $1.9B | $511.5M |
| Deferred income taxes | $2.6B | $2.4B | $2.2B | $2.2B |
| Judicial deposits | $150.9M | $332.6M | $2.1B | $1.8B |
| Other non-current assets | $387.7M | $358.8M | $355.4M | $700.4M |
| Prepaid pension cost | $9.3M | $9.7M | $11.7M | $9.2M |
| Investments in associates and joint ventures | $3.9B | $4.2B | $3.9B | $3.9B |
| Goodwill | $12.0B | $13.9B | $10.8B | $11.6B |
| Leasing | $1.3B | $1.2B | $1.2B | $960.9M |
| Other intangibles | $691.4M | $400.6M | $373.7M | $415.2M |
| Property, plant and equipment, net | $30.6B | $29.6B | $22.9B | $20.4B |
| TOTAL NON-CURRENT ASSETS | $53.1B | $54.1B | $45.7B | $42.5B |
| TOTAL ASSETS | $81.7B | $86.8B | $74.9B | $73.8B |
| Trade accounts payable | $5.0B | $5.7B | $5.9B | $6.6B |
| Short-term debt | $897.3M | $697.0M | $1.8B | $2.5B |
| Debentures | $44.6M | $38.0M | $14.4M | $628.9M |
| Taxes payable | $400.3M | $411.4M | $512.9M | $395.2M |
| Income and social contribution taxes payable | $289.9M | $346.2M | $502.8M | $497.2M |
| Payroll and related liabilities | $915.5M | $918.6M | $845.8M | $1.1B |
| Leasing payable | $386.5M | $430.7M | $373.2M | $275.9M |
| Employee benefits | $594.0K | $186.0K | $209.0K | $516.0K |
| Environmental liabilities | $382.8M | $245.4M | $139.4M | $262.0M |
| Fair value of derivatives | $3.3M | $35.9M | $19.0M | $19.1M |
| Other current liabilities | $1.6B | $2.0B | $1.2B | $1.2B |
| TOTAL CURRENT LIABILITIES | $9.9B | $10.9B | $11.3B | $13.5B |
| Long term debt | $8.9B | $9.1B | $8.3B | $8.7B |
| Debentures | $4.4B | $3.8B | $799.2M | $798.9M |
| Deferred income taxes | $353.8M | $163.1M | $204.2M | $96.3M |
| Provision for tax, civil and labor liabilities | $2.3B | $2.3B | $2.2B | $2.0B |
| Environmental liabilities | $237.9M | $413.7M | $378.3M | $222.6M |
| Employee benefits | $404.1M | $545.2M | $706.8M | $893.4M |
| Leasing payable | $1.0B | $849.9M | $904.5M | $754.7M |
| Other non-current liabilities | $471.1M | $587.1M | $859.9M | $533.7M |
| TOTAL NON-CURRENT LIABILITIES | $18.0B | $17.8B | $14.4B | $14.0B |
| Capital | $24.3B | $24.3B | $20.2B | $19.2B |
| Capital reserves | $11.6M | $11.6M | $11.6M | $11.6M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income for the year | $1.4B | $4.6B | $7.5B | $11.5B |
| Depreciation and amortization | $3.7B | $3.1B | $3.0B | $2.9B |
| Impairment of assets | $2.0B | $199.6M | — | — |
| Equity in earnings of unconsolidated companies | ($95.6M) | ($464.5M) | ($827.6M) | ($1.2B) |
| Exchange variation, net | ($210.8M) | $1.1B | $850.4M | $974.7M |
| Losses on derivative financial instruments, net | $45.6M | $176.9M | $15.0M | ($39.1M) |
| Post-employment benefits | $271.2M | $257.4M | $236.0M | $247.0M |
| Long-term incentive plans | $149.2M | $152.4M | $158.0M | $104.7M |
| Income tax | $1.1B | $864.7M | $1.8B | $4.4B |
| Losses on disposal of property, plant and equipment | $75.4M | $45.9M | $27.5M | ($25.6M) |
| Gain from a bargain purchase | ($41.3M) | — | — | — |
| Impairment of financial assets | $10.2M | $30.9M | — | $81.0K |
| Provision of tax, civil, labor and environmental liabilities, net | ($40.4M) | $210.3M | $160.2M | $295.0M |
| Interest income on short-term investments | ($166.3M) | ($274.3M) | ($481.6M) | ($309.8M) |
| Interest expense on debt and debentures | $1.3B | $796.9M | $840.1M | $964.6M |
| Interest expense on leases liabilities | $122.3M | $129.1M | $127.8M | — |
| (Reversal) Provision for net realizable value adjustment in inventory, net | $23.5M | ($33.1M) | $12.0M | $43.8M |
| Cash flows from operations before changes in working capital | $9.6B | $10.0B | $12.4B | $19.8B |
| Decrease (Increase) in trade accounts receivable | $149.6M | $549.5M | ($294.5M) | $290.6M |
| Decrease in inventories | $956.9M | $542.5M | $1.3B | ($2.0B) |
| Decrease in trade accounts payable | ($486.4M) | ($1.2B) | ($355.4M) | ($995.6M) |
| Decrease (Increase) in other receivables | $197.2M | $1.9B | ($107.2M) | ($284.8M) |
| Decrease in other payables | ($203.6M) | ($407.1M) | ($434.1M) | ($1.5B) |
| Dividends from associates and joint ventures | $235.3M | $414.7M | $461.3M | $425.5M |
| Purchases of short-term investments | ($362.9M) | ($924.7M) | ($7.2B) | ($3.6B) |
| Proceeds from maturities and sales of short-term investments | $616.0M | $3.0B | $7.9B | $3.4B |
| Cash provided by operating activities | $10.7B | $13.9B | $13.7B | $15.6B |
| Interest paid on loans and financing | ($1.5B) | ($946.9M) | ($858.3M) | ($968.9M) |
| Interest paid on lease liabilities | ($122.3M) | ($129.1M) | ($127.8M) | ($88.4M) |
| Income and social contribution taxes paid | ($1.1B) | ($1.4B) | ($1.6B) | ($3.4B) |
| Net cash provided by operating activities | $8.0B | $11.4B | $11.1B | $11.2B |
| Purchases of property, plant and equipment | ($6.7B) | ($5.8B) | ($5.2B) | ($4.3B) |
| Proceeds from sales of property, plant and equipment, investments and other intangibles | $69.7M | $1.6B | $40.7M | $48.3M |
| Additions in other intangibles | ($171.2M) | ($168.0M) | ($127.2M) | ($189.4M) |
| Payment for acquisition of company control | ($699.1M) | ($455.7M) | — | — |
| Capital increase in associate and joint venture | ($91.4M) | ($191.9M) | ($524.2M) | ($26.8M) |
| Net cash used by investing activities | ($7.6B) | ($5.0B) | ($5.8B) | ($4.5B) |
| Purchases of Treasury stocks | -1.2B | -1.2B | — | -1.1B |
| Dividends and interest on capital paid | ($1.3B) | ($1.7B) | ($2.7B) | ($5.9B) |
| Proceeds from loans and financing | $9.2B | $3.9B | $1.8B | $2.3B |
| Payment of loans and financing | ($8.0B) | ($3.3B) | ($2.8B) | ($3.2B) |
| Leasing payment | ($487.8M) | ($459.5M) | ($388.2M) | ($310.2M) |
| Net cash used in financing activities | ($1.7B) | ($2.7B) | ($4.1B) | ($8.3B) |
| Exchange variation on cash and cash equivalents | ($536.3M) | $1.1B | ($710.7M) | ($119.2M) |
| (Decrease) Increase in cash and cash equivalents | ($1.8B) | $4.8B | $529.8M | ($1.7B) |
Gerdau SA ADR score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.