Stock fact sheet · data as of
Companhia Siderúrgica Nacional (SID): fair value, margin of safety and Wheel Score
Ticker symbol SID · Basic Materials · Steel · Brazil · ADR · Speculative Income
SID is an American depositary share (ADR): the US listing of Companhia Siderúrgica Nacional, whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.
Is SID undervalued?
Companhia Siderúrgica Nacional (SID) closed at 0.7766 on 5 Nov 2026. The GLS average fair value - the simple average of the 2 valuation models that produced a positive number - is 8.77, which puts the price 91% below it. 2 of the 2 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
Only 2 of the nine models produced a value (DCF, DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files SID under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan. It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for SID
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 16.15 | +1980% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 1.38 | +78% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -7.51 | -1067% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 1.40 | +80% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: SID passes 3 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 4.6 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC -2.9%, ROE -15.3%, ROA -2.0% - with debt at 4.20 times equity and negative free cash flow. Debt of 4.20 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 12.09% (payout ratio -70%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 1/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | -2.9% |
|---|---|---|---|
| GLS Moat | 4.6 / 10 | ROE | -15.3% |
| Debt / equity | 4.20 | ROA | -2.0% |
| Free-cash-flow yield | -115.1% | Payout ratio | -70% |
| Institutions | 1 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 27: Weak
SID scores 27 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 4, financially healthy - Piotroski 3/9 (under 6); and filter 5, can repay its debt - debt with no positive cash flow to repay it; and filter 6, no serious red flags - Red Flags score 55 (under 60); and filter 7, a premium worth selling - implied volatility 167% (over 80%); and filter 9, not a penny stock - price 0.78 (under $5), and the parts are thin too - value strong, premium weak, moat fair, health weak, red flags weak, option trading weak, stability weak. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 167%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is 10,476 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 7.4M shares a day on a market cap of $1.0B, with a beta of 1.51 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that weak.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 3/9 (under 6) |
| 5 | Can repay its debt | Fails | debt with no positive cash flow to repay it |
| 6 | No serious red flags | Fails | Red Flags score 55 (under 60) |
| 7 | A premium worth selling | Fails | implied volatility 167% (over 80%) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Fails | price 0.78 (under $5) |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 91% below fair value | |
| Premium | Weak | implied volatility 167% | |
| Moat | Fair | moat 4.6/10 | |
| Health | Weak | Piotroski 3/9 | |
| Red Flags | Weak | Red Flags score 55/100 | |
| Option trading | Weak | 478 contracts a day, 10,476 open interest | |
| Stability | Weak | beta 1.51, $1.0B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Companhia Siderúrgica Nacional reports earnings on 12 Nov 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Steel
The 12 companies below are the closest to Companhia Siderúrgica Nacional by market cap within the Steel industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| SXC SunCoke Energy, Inc. | 10.45 | 20.15 | +48% | 46Weak | $887M |
| MTUS Metallus Inc. | 17.87 | 13.96 | -28% | 34Weak | $741M |
| ASTL Algoma Steel Group Inc. | 5.27 | 1.48 | -256% | 20Weak | $557M |
| WS Worthington Steel, Inc. | 40.48 | 25.82 | -57% | 25Weak | $2.1B |
| FRD Friedman Industries, Incorporated | 38.79 | 27.23 | -42% | 15No options | $280M |
| WEBC Webco Industries, Inc. | 400.00 | 353.07 | -13% | 17No options | $273M |
| SIM Grupo Simec, S.A.B. de C.V. | 24.80 | 23.39 | -6% | 19No options | $4.1B |
| MSB Mesabi Trust | 17.63 | 16.76 | -5% | 30Weak | $231M |
| HLP Hongli Group Inc. | 2.93 | 0.2893 | -913% | 19No options | $219M |
| CMC Commercial Metals Company | 66.46 | 59.09 | -12% | 37Weak | $7.3B |
| CLF Cleveland-Cliffs Inc. | 12.84 | 22.31 | +42% | 50Fair | $7.3B |
| GGB Gerdau S.A. | 4.60 | 5.98 | +23% | 49Weak | $9.1B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about SID
Is SID undervalued right now?
By the GLS models, yes: at 0.7766 the stock is 91% below the average fair value of 8.77 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of SID and what does it mean?
SID scores 27 out of 100 (Weak) - it fails Wheel Trade Filters 2, 4, 5, 6, 7, 9. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for SID?
8.77 per share as of 5 Nov 2026 - the simple average of the 2 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Companhia Siderúrgica Nacional report earnings next?
The next earnings report is due on 12 Nov 2026 (after the close), 7 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does SID have listed options, and how liquid are they?
Yes. The nightly snapshot found 8 listed contracts with 10,476 open interest across all expiries and implied volatility of 167% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.
Is SID an ADR?
Yes. SID is an American depositary share (ADR): the US listing of Companhia Siderúrgica Nacional, whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.