NATIONAL STEEL CO
boothcheck covers NATIONAL STEEL CO (SID) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 28, 2026.
• Companhia Siderurgica Nacional is not a pure steelmaker; it is a Brazilian conglomerate spanning steel, iron ore mining, cement and logistics, and in the first quarter of 2026 the record cement and logistics performance carried adjusted EBITDA even as steel and mining sagged on seasonality. • Leverage is the whole story: the group closed the first quarter of 2026 with net debt of R$40.5 billion and net debt at 3.36 times trailing EBITDA, against interest coverage of under two times, which is w
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78 institutional managers reported holding SID in 13F filings for the quarter ended 2026-03-31. Together they hold about 67% of the company; the top 10 hold 48%. 17 opened new positions that quarter. Held by Renaissance Technologies, Vanguard Group, Dimensional Fund Advisors, among others. On the short side, 11.6M shares were sold short as of the 2026-06-15 count, about 0.9% of shares outstanding (2.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SID has cut its share count 49.4% over the past five years. It pays a dividend; the current rate is $0.81 a share annually. Cash returned over the past three years: $1.28B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.