B3 · BRL

CSNA3

Companhia Siderurgica Nacional

R$5.77+6.85% (R$0.37)Updated 9/30/26, 6:31 PM

Day's range: R$5.45 – R$5.82
Day's volume: R$166.7M
52-week range: R$4.19 – R$11.32

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CSNA3 in numbers

Market cap: R$7.7B

P/E: -2.91

P/B: 0.63

Dividend yield (12m): 0.00%

Net debt/EBITDA: 5.06

CSNA3 price history

10/01/202509/30/2026

Compare with

CSNA3 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	-38.88%	-43.06%	-62.31%
Volatility (annualized)	51.19%	48.43%	46.63%
Largest drawdown	-54.12%	-73.97%	-73.97%
Positive months	6/12	14/36	23/60

How much did investing in CSNA3 return?

Amount invested

R$1,000.00 invested on 09/01/2021 would be worth R$306.13 today.

Value today in CSNA3: R$306.13

Return over the period: -69.39%

Return per year: -21.08%

In the Ibovespa: R$1,657.66

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

CSNA3 fundamentals

Valuation

P/E
-2.91
P/B
0.63
EV/EBITDA
6.05
EV/EBIT
13.97
EV/Revenue
1.04
P/EBIT
2.29
P/S
0.17
P/OCF
-31.23
P/FCF
-1.25
Earnings yield
7.16%
PEG ratio
—
Earnings per share
-R$1.98
Book value per share
R$9.17

Debt

Net debt
R$39.1B
Net debt/EBITDA
5.06
Net debt/Equity
2.56
Debt/Equity
3.50
Current ratio
1.15
Quick ratio
0.79
Cash ratio
0.55

Efficiency

Gross margin
27.91%
EBITDA margin
17.13%
Operating margin
7.42%
Net margin
-4.37%
Asset turnover
0.45

Profitability

ROE
-21.59%
ROA
-1.96%
ROIC
4.76%
Payout
—

Growth

Revenue CAGR (5 years)
-0.31%
Earnings CAGR (5 years)
—
Revenue growth (year)
2.54%
Earnings growth (year)
22.74%
Revenue growth (quarter)
0.92%
Earnings growth (quarter)
-16.31%

What is CSNA3's fair price?

Two classic value formulas, with today's numbers. The current price is R$5.77.

Graham's fair price: —; Does not apply to CSNA3: the formula needs positive earnings and book value.

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: R$25.76; 346.46% above the price

R$1.55 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

CSNA3's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	-5.92	-4.53	-81.93	12.42	2.85	11.65	10.94	2.42
P/B	0.75	0.76	1.32	0.88	1.49	3.93	1.72	1.22
EV/EBITDA	5.54	5.52	6.23	4.45	2.11	7.99	8.66	4.62
Dividend yield	0.00%	14.30%	12.65%	14.11%	7.64%	0.99%	6.73%	7.29%
Earnings per share	-R$1.51	-R$1.95	-R$0.24	R$1.17	R$8.83	R$2.73	R$1.29	R$3.66
Book value per share	R$11.87	R$11.66	R$14.84	R$16.45	R$16.85	R$8.11	R$8.19	R$7.22
ROE	-12.72%	-16.77%	-1.62%	7.12%	52.44%	33.72%	15.75%	50.67%
ROIC	8.06%	8.84%	4.29%	8.14%	41.04%	15.21%	9.95%	18.57%
Gross margin	27.67%	26.77%	26.33%	30.00%	46.07%	36.39%	32.13%	29.88%
EBITDA margin	20.02%	18.44%	18.84%	23.70%	47.49%	27.38%	19.90%	35.79%
Net margin	-4.47%	-5.93%	-0.70%	3.50%	25.59%	12.62%	7.03%	22.09%
Net debt/EBITDA	4.22	4.06	3.19	2.61	0.58	2.62	4.79	3.12

CSNA3's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$44.8B	R$43.7B	R$45.4B	R$44.4B	R$47.9B	R$30.1B
Cost of revenue	-R$32.4B	-R$32B	-R$33.5B	-R$31.1B	-R$25.8B	-R$19.1B
Gross profit	R$12.4B	R$11.7B	R$12B	R$13.3B	R$22.1B	R$10.9B
EBITDA	R$9B	R$8.1B	R$8.6B	R$10.5B	R$22.8B	R$8.2B
EBIT	R$4.8B	R$4.3B	R$5.2B	R$7.6B	R$20.5B	R$5.7B
Financial result	-R$6.5B	-R$5.8B	-R$4.2B	-R$3.5B	-R$1.9B	-R$796.3M
Income before tax	-R$1.7B	-R$1.5B	R$1B	R$4.1B	R$18.6B	R$4.9B
Income tax	R$172.8M	R$5.2M	-R$632.7M	-R$2B	-R$5B	-R$625.5M
Net income	-R$2B	-R$2.6B	-R$318.2M	R$1.6B	R$12.3B	R$3.8B

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

CSNA3 against its sector

The same indicators for the company's other shares and the sector's largest stocks.

Stock	P/E	P/B	Dividend yield (12m)	ROE	Market cap
CSNA3Cia Siderurgica Nacional	-2.91	0.63	0.00%	-21.59%	R$7.7B
VALE3VALE S.A.	29.93	1.58	8.03%	5.27%	R$310.3B
GGBR4GERDAU S.A.	21.46	0.90	3.26%	4.18%	R$45.4B
GGBR3GERDAU S.A.	18.25	0.76	3.83%	4.18%	R$45.4B
CMIN3CSN MINERAÇÃO S.A.	11.66	3.71	7.70%	31.79%	R$27.2B
KLBN4KLABIN S.A.	127.00	2.37	6.52%	1.86%	R$22.8B

Does CSNA3 pay dividends?

Dividend yield per year

0.00%2017
7.29%2018
6.73%2019
0.99%2020
7.64%2021
14.11%2022
12.65%2023
14.30%2024
0.00%2025
0.00%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	11/21/2024	11/28/2024	R$0.55
Dividend	05/14/2024	05/29/2024	R$0.72
Dividend	11/20/2023	11/29/2023	R$0.74
Dividend	04/28/2023	05/17/2023	R$0.59
Dividend	04/28/2023	05/17/2023	R$0.63
Interest on equity	12/28/2022	05/17/2023	R$0.53
Dividend	11/25/2022	12/02/2022	R$1.18
Dividend	04/29/2022	12/02/2022	R$0.34
Dividend	04/29/2022	05/20/2022	R$0.34
Interest on equity	01/04/2022	05/20/2022	R$0.19
Dividend	07/30/2021	08/10/2021	R$1.27
Dividend	04/30/2021	05/12/2021	R$0.65

See all 73 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	05/06/2020	12/31/2020	R$0.31
Dividend	05/06/2020	12/30/2020	R$0.01
Dividend	09/23/2019	09/30/2019	R$0.30
Dividend	05/02/2019	05/29/2019	R$0.65
Dividend	08/22/2018	08/30/2018	R$0.64
Dividend	03/11/2015	03/18/2015	R$0.20
Dividend	02/28/2014	03/11/2014	R$0.58
Interest on equity	04/01/2013	04/25/2013	R$0.08
Dividend	04/27/2012	06/29/2012	R$0.82
Interest on equity	04/29/2011	05/09/2011	R$0.24
Dividend	04/29/2011	05/06/2011	R$1.03
Dividend	04/30/2010	06/25/2010	R$1.03
Interest on equity	12/17/2009	04/30/2010	R$0.34
Interest on equity	04/30/2009	05/11/2009	R$0.35
Dividend	03/24/2009	03/31/2009	R$1.98
Dividend	08/20/2008	11/27/2008	R$0.21
Dividend	04/18/2008	05/05/2008	R$1.62
Interest on equity	04/18/2008	05/05/2008	R$0.09
Interest on equity	12/21/2007	01/08/2008	R$0.53
Dividend	12/21/2007	01/08/2008	R$2.59
Dividend	04/30/2007	09/04/2007	R$1.99
Interest on equity	04/30/2007	09/04/2007	R$0.68
Dividend	08/03/2006	08/10/2006	R$1.29
Interest on equity	04/28/2006	05/08/2006	R$1.01
Dividend	04/28/2006	05/08/2006	R$0.50
Interest on equity	04/29/2005	06/14/2005	R$0.87
Dividend	04/29/2005	06/14/2005	R$7.35
Dividend	06/14/2004	06/15/2004	R$0.12
Interest on equity	04/29/2004	06/11/2004	R$3.42
Dividend	04/29/2004	06/11/2004	R$6.58
Interest on equity	04/29/2003	06/11/2003	R$4.09
Dividend	04/29/2003	06/11/2003	R$7.06
Interest on equity	04/30/2002	06/10/2002	R$1.25
Interest on equity	04/12/2002	06/10/2002	R$0.70
Interest on equity	06/08/2001	06/15/2001	R$1.81
Dividend	06/08/2001	06/15/2001	R$9.84
Dividend	03/09/2001	03/15/2001	R$13.92
Interest on equity	03/09/2001	03/15/2001	R$8.21
Interest on equity	12/28/2000	02/23/2001	R$4.60
Interest on equity	02/28/2000	03/16/2000	R$0.74
Interest on equity	12/27/1999	01/10/2000	R$0.98
Interest on equity	06/01/1999	06/15/1999	R$1.67
Dividend	12/30/2014	—	R$0.20
Dividend	02/28/2014	—	R$0.29
Interest on equity	11/13/2013	—	R$0.07
Dividend	11/13/2013	—	R$0.27
Interest on equity	08/07/2013	—	R$0.06
Dividend	08/07/2013	—	R$0.14
Interest on equity	04/01/2013	—	R$0.38
Dividend	12/27/2012	—	R$0.21
Interest on equity	12/17/2009	—	R$0.10
Dividend	06/23/2006	—	R$1.61
Dividend	02/01/2006	—	R$3.64
Interest on equity	12/17/1998	—	R$1.39
Interest on equity	07/28/1998	—	R$2.03
Interest on equity	04/28/1998	—	R$0.55
Interest on equity	12/29/1997	—	R$1.50
Interest on equity	07/29/1997	—	R$1.17
Dividend	04/22/1997	—	R$1.16
Dividend	08/19/1996	—	R$0.39
Dividend	04/23/1996	—	R$0.48

Splits, reverse splits and bonus shares
Event	Last day to own	Ratio
Split	03/25/2010	2 for 1
Split	01/23/2008	3 for 1
Reverse split	05/28/2004	1 for 250
Bonus shares	03/14/1988	900.00% in shares

About Cia Siderurgica Nacional

Sector: Materiais Básicos
Segment: Siderurgia
Listing segment: Traditional
Tag along: 80.00%
Free float: 54.86%
Shares issued: 1.33B common
Average daily trading: R$101.3M
Ibovespa weight: 0.15%
Listed since: 08/02/1993
CNPJ: 33.042.730/0001-04

A Companhia Siderúrgica Nacional (CSN) é um grupo industrial brasileiro com atuação em siderurgia, mineração, cimento, logística e energia. A empresa opera usinas integradas de aço e ativos de minério de ferro, com presença relevante na cadeia de materiais básicos no Brasil. A operação siderúrgica inclui produtos planos e revestidos destinados a segmentos como automotivo, construção civil, distribuição e embalagens. Em paralelo, a companhia mantém integração com ativos logísticos e portuários para escoamento de minério e produtos industriais. As ações da CSN são negociadas na B3 sob o ticker CSNA3. A empresa foi fundada em 1941 e reporta aproximadamente 19 mil empregados.

Investor website

ShareholdersAs of 12/31/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Common	Preferred	Total
VICUNHA AÇOS S.A.Controlling	41.66%	0.00%	41.66%
CFL Ana Participações S.A.	4.57%	0.00%	4.57%
RIO IACO PARTICIPAÇÕES S.A.Controlling	3.45%	0.00%	3.45%
AVELINA PARTICIPAÇÕES S.A.	3.18%	0.00%	3.18%
Outros	47.15%	0.00%	47.15%

Questions about CSNA3

How much is CSNA3 today?

CSNA3 is at R$5.77 (6.85% on the day), last traded on 09/30/2026.

How much did CSNA3 pay in dividends in 2025?

CSNA3 paid R$0.00 per share in 2025, a dividend yield of 0.00%.

What are the P/E and P/B of CSNA3?

CSNA3 trades at a P/E of -2.91 and a P/B of 0.63.

How much did CSNA3 return in 12 months?

CSNA3 returned -38.88% in 12 months, with annualized volatility of 51.19% and a largest drawdown of -54.12%.

What sector is CSNA3 in?

Cia Siderurgica Nacional is in the Materiais Básicos sector, Siderurgia segment.