English

NATIONAL STEEL CO

EDGAR

SID Foreign issuer report (6-K) · filed 2026-10-30

Annual consolidated revenue for 2025: about BRL 44.8B, using the latest reported figures. The previous period, 2024, was about BRL 43.69B.

Inspect reported changes Compare with another company Historical disclosures Search filings Segments

Watchlist

Latest fiscal year

Revenue

44.8 billion BRL

2025 · BRL

Exact inputs and evidence

Revenue: 44797946000 BRL Source

Operating margin

10.75%

2025 · %

Exact inputs and evidence

Operating Income: 4816674000 BRL Source
Revenue: 44797946000 BRL Source

Operating cash flow

-973 million BRL

2025 · BRL

Exact inputs and evidence

Operating Cash Flow: -973179000 BRL Source

Free cash flow

-6.91 billion BRL

2025 · BRL

Exact inputs and evidence

Operating Cash Flow: -973179000 BRL Source
Capital Expenditure: 5935897000 BRL Source

Cash and cash equivalents: 14.4 billion BRL 2025-12-31 Source
Exact value

14421022000 BRL
Long-term debt including current maturities: Not available
Shares outstanding: Not available

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-30.

Financial data available through: 2025-12-31.

Coverage by financial measure

Revenue: 9 of 11 periods available· newest 2025-12-31
Operating income: 9 of 11 periods available· newest 2025-12-31
Net income: 9 of 11 periods available· newest 2025-12-31
Operating cash flow: 9 of 11 periods available· newest 2025-12-31
Capital expenditure: 9 of 11 periods available· newest 2025-12-31
Total assets: 8 of 11 periods available· newest 2025-12-31
Total liabilities: 2 of 11 periods available· newest 2020-12-31
Current assets: 4 of 11 periods available· newest 2021-12-31
Current liabilities: 8 of 11 periods available· newest 2025-12-31
Cash and cash equivalents: 10 of 11 periods available· newest 2025-12-31
long term debt: No compatible figures in this window
shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

Revenue
+2.5%

Prior period

BRL 43.69 billion

2024-01-01 – 2024-12-31
Current period

BRL 44.8 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

44797946000 − 43687460000 = 1110486000 BRL

43687460000 BRL · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
44797946000 BRL · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Revenue · NATIONAL STEEL CO · 2025-12-31 NATIONAL STEEL CO (edgar:1049659) Year-over-year change in Revenue: 1110486000 BRL Concept: fundies:Revenue Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:Revenue: 44797946000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#6411263 Filing: 000129281426002714 Input fundies:Revenue: 43687460000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#6485732 Filing: 000129281426002714
The citation records this snapshot. The page link may show a newer release later.
Net income
+BRL 589.48 million

Prior period

−BRL 2.59 billion

2024-01-01 – 2024-12-31
Current period

−BRL 2 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

-2002374000 − -2591851000 = 589477000 BRL

-2591851000 BRL · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
-2002374000 BRL · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Net income · NATIONAL STEEL CO · 2025-12-31 NATIONAL STEEL CO (edgar:1049659) Year-over-year change in Net income: 589477000 BRL Concept: fundies:NetIncome Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:NetIncome: -2002374000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#6145555 Filing: 000129281426002714 Input fundies:NetIncome: -2591851000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#6145915 Filing: 000129281426002714
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
-111.2%

Prior period

BRL 8.65 billion

2024-01-01 – 2024-12-31
Current period

−BRL 973.18 million

2025-01-01 – 2025-12-31

Exact inputs and evidence

-973179000 − 8650505000 = -9623684000 BRL

8650505000 BRL · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
-973179000 BRL · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Operating cash flow · NATIONAL STEEL CO · 2025-12-31 NATIONAL STEEL CO (edgar:1049659) Year-over-year change in Operating cash flow: -9623684000 BRL Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:OperatingCashFlow: -973179000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3122182 Filing: 000129281426002714 Input fundies:OperatingCashFlow: 8650505000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3122696 Filing: 000129281426002714
The citation records this snapshot. The page link may show a newer release later.
Capital expenditure
+8%

Prior period

BRL 5.49 billion

2024-01-01 – 2024-12-31
Current period

BRL 5.94 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

5935897000 − 5494335000 = 441562000 BRL

5494335000 BRL · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
5935897000 BRL · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Capital expenditure · NATIONAL STEEL CO · 2025-12-31 NATIONAL STEEL CO (edgar:1049659) Year-over-year change in Capital expenditure: 441562000 BRL Concept: fundies:CapitalExpenditure Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:CapitalExpenditure: 5935897000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3126782 Filing: 000129281426002714 Input fundies:CapitalExpenditure: 5494335000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3127181 Filing: 000129281426002714
The citation records this snapshot. The page link may show a newer release later.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

Revenue BRL 44.8 billion 100% of revenue
Operating costs Derived BRL 39.98 billion 89% of revenue
Operating income BRL 4.82 billion 11% of revenue
Tax, interest and other Derived BRL 6.82 billion 15% of revenue
Net income −BRL 2 billion −4.5% of revenue

Cash

Operating cash flow −BRL 973.18 million −2.2% of revenue
Capital expenditure BRL 5.94 billion 13% of revenue
Free cash flow Derived −BRL 6.91 billion −15% of revenue

Share of revenue by period

Net income
Tax, interest and other
Operating costs

2017 16%84%
2018 22%70%
2019 86%
2020 13%81%
2021 26%17%57%
2022 14%83%
2023 Net loss: net income was −0.7% of revenue.
2024 Net loss: net income was −5.9% of revenue.
2025 Net loss: net income was −4.5% of revenue.

Values and sources

Revenue breakdown by annual reporting period
Period	Revenue	Operating costs	Operating income	Tax, interest and other	Net income	Free cash flow	Source
2017 2017-01-01 – 2017-12-31	18524601000	15540636000 Derived	2983965000	2973693000 Derived	10272000	-487630000 Derived	Source 2017-01-01 – 2017-12-31: 18524601000 BRL Inspect Revenue Open source 2017-01-01 – 2017-12-31: 2983965000 BRL Inspect Operating Income Open source 2017-01-01 – 2017-12-31: 10272000 BRL Inspect Net Income Open source 2017-01-01 – 2017-12-31: 571851000 BRL Inspect Operating Cash Flow Open source 2017-01-01 – 2017-12-31: 1059481000 BRL Inspect Capital Expenditure Open source
2018 2018-01-01 – 2018-12-31	22968885000	16022325000 Derived	6946560000	1872424000 Derived	5074136000	891003000 Derived	Source 2018-01-01 – 2018-12-31: 22968885000 BRL Inspect Revenue Open source 2018-01-01 – 2018-12-31: 6946560000 BRL Inspect Operating Income Open source 2018-01-01 – 2018-12-31: 5074136000 BRL Inspect Net Income Open source 2018-01-01 – 2018-12-31: 2208105000 BRL Inspect Operating Cash Flow Open source 2018-01-01 – 2018-12-31: 1317102000 BRL Inspect Capital Expenditure Open source
2019 2019-01-01 – 2019-12-31	25436417000	21894500000 Derived	3541917000	1752850000 Derived	1789067000	2655996000 Derived	Source 2019-01-01 – 2019-12-31: 25436417000 BRL Inspect Revenue Open source 2019-01-01 – 2019-12-31: 3541917000 BRL Inspect Operating Income Open source 2019-01-01 – 2019-12-31: 1789067000 BRL Inspect Net Income Open source 2019-01-01 – 2019-12-31: 4871879000 BRL Inspect Operating Cash Flow Open source 2019-01-01 – 2019-12-31: 2215883000 BRL Inspect Capital Expenditure Open source
2020 2020-01-01 – 2020-12-31	30064020000	24349583000 Derived	5714437000	1920142000 Derived	3794295000	7893035000 Derived	Source 2020-01-01 – 2020-12-31: 30064020000 BRL Inspect Revenue Open source 2020-01-01 – 2020-12-31: 5714437000 BRL Inspect Operating Income Open source 2020-01-01 – 2020-12-31: 3794295000 BRL Inspect Net Income Open source 2020-01-01 – 2020-12-31: 9576874000 BRL Inspect Operating Cash Flow Open source 2020-01-01 – 2020-12-31: 1683839000 BRL Inspect Capital Expenditure Open source
2021 2021-01-01 – 2021-12-31	47912039000	27372077000 Derived	20539962000	8281334000 Derived	12258628000	11928556000 Derived	Source 2021-01-01 – 2021-12-31: 47912039000 BRL Inspect Revenue Open source 2021-01-01 – 2021-12-31: 20539962000 BRL Inspect Operating Income Open source 2021-01-01 – 2021-12-31: 12258628000 BRL Inspect Net Income Open source 2021-01-01 – 2021-12-31: 14793263000 BRL Inspect Operating Cash Flow Open source 2021-01-01 – 2021-12-31: 2864707000 BRL Inspect Capital Expenditure Open source
2022 2022-01-01 – 2022-12-31	44362120000	36720658000 Derived	7641462000	6087402000 Derived	1554060000	-1309417000 Derived	Source 2022-01-01 – 2022-12-31: 44362120000 BRL Inspect Revenue Open source 2022-01-01 – 2022-12-31: 7641462000 BRL Inspect Operating Income Open source 2022-01-01 – 2022-12-31: 1554060000 BRL Inspect Net Income Open source 2022-01-01 – 2022-12-31: 2042793000 BRL Inspect Operating Cash Flow Open source 2022-01-01 – 2022-12-31: 3352210000 BRL Inspect Capital Expenditure Open source
2023 2023-01-01 – 2023-12-31	45437950000	40251201000 Derived	5186749000	5504955000 Derived	-318206000	2884489000 Derived	Source 2023-01-01 – 2023-12-31: 45437950000 BRL Inspect Revenue Open source 2023-01-01 – 2023-12-31: 5186749000 BRL Inspect Operating Income Open source 2023-01-01 – 2023-12-31: -318206000 BRL Inspect Net Income Open source 2023-01-01 – 2023-12-31: 7292608000 BRL Inspect Operating Cash Flow Open source 2023-01-01 – 2023-12-31: 4408119000 BRL Inspect Capital Expenditure Open source
2024 2024-01-01 – 2024-12-31	43687460000	39417438000 Derived	4270022000	6861873000 Derived	-2591851000	3156170000 Derived	Source 2024-01-01 – 2024-12-31: 43687460000 BRL Inspect Revenue Open source 2024-01-01 – 2024-12-31: 4270022000 BRL Inspect Operating Income Open source 2024-01-01 – 2024-12-31: -2591851000 BRL Inspect Net Income Open source 2024-01-01 – 2024-12-31: 8650505000 BRL Inspect Operating Cash Flow Open source 2024-01-01 – 2024-12-31: 5494335000 BRL Inspect Capital Expenditure Open source
2025 2025-01-01 – 2025-12-31	44797946000	39981272000 Derived	4816674000	6819048000 Derived	-2002374000	-6909076000 Derived	Source 2025-01-01 – 2025-12-31: 44797946000 BRL Inspect Revenue Open source 2025-01-01 – 2025-12-31: 4816674000 BRL Inspect Operating Income Open source 2025-01-01 – 2025-12-31: -2002374000 BRL Inspect Net Income Open source 2025-01-01 – 2025-12-31: -973179000 BRL Inspect Operating Cash Flow Open source 2025-01-01 – 2025-12-31: 5935897000 BRL Inspect Capital Expenditure Open source

Amounts are exact, in BRL.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

BRL 44.8B 2025

Values and sources

Revenue values and source evidence
Period	Series	Value(BRL)	Source evidence
20172017-12-31	Revenue	18524601000	Revenue: 18524601000 Open source
20182018-12-31	Revenue	22968885000	Revenue: 22968885000 Open source
20192019-12-31	Revenue	25436417000	Revenue: 25436417000 Open source
20202020-12-31	Revenue	30064020000	Revenue: 30064020000 Open source
20212021-12-31	Revenue	47912039000	Revenue: 47912039000 Open source
20222022-12-31	Revenue	44362120000	Revenue: 44362120000 Open source
20232023-12-31	Revenue	45437950000	Revenue: 45437950000 Open source
20242024-12-31	Revenue	43687460000	Revenue: 43687460000 Open source
20252025-12-31	Revenue	44797946000	Revenue: 44797946000 Open source

Revenue growth

Change in revenue from the same financial period one year earlier.

2.5% 2025

Values and sources

Revenue growth values and source evidence
Period	Series	Value	Source evidence
20172017-12-31	Year over year	No prior comparable period	Revenue: 18524601000 Open source
20182018-12-31	Year over year	24%	Revenue: 22968885000 Open source Revenue: 18524601000 Open source
20192019-12-31	Year over year	10.7%	Revenue: 25436417000 Open source Revenue: 22968885000 Open source
20202020-12-31	Year over year	18.2%	Revenue: 30064020000 Open source Revenue: 25436417000 Open source
20212021-12-31	Year over year	59.4%	Revenue: 47912039000 Open source Revenue: 30064020000 Open source
20222022-12-31	Year over year	-7.4%	Revenue: 44362120000 Open source Revenue: 47912039000 Open source
20232023-12-31	Year over year	2.4%	Revenue: 45437950000 Open source Revenue: 44362120000 Open source
20242024-12-31	Year over year	-3.9%	Revenue: 43687460000 Open source Revenue: 45437950000 Open source
20252025-12-31	Year over year	2.5%	Revenue: 44797946000 Open source Revenue: 43687460000 Open source

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 10.8% 2025

Net margin -4.5% 2025

Free cash flow margin -15.4% 2025

Operating margin
Net margin
Free cash flow margin

Values and sources

Profit margins values and source evidence
Period	Series	Value	Source evidence
20172017-12-31	Operating margin	16.1%	Operating Income: 2983965000 Open source Revenue: 18524601000 Open source
20182018-12-31	Operating margin	30.2%	Operating Income: 6946560000 Open source Revenue: 22968885000 Open source
20192019-12-31	Operating margin	13.9%	Operating Income: 3541917000 Open source Revenue: 25436417000 Open source
20202020-12-31	Operating margin	19%	Operating Income: 5714437000 Open source Revenue: 30064020000 Open source
20212021-12-31	Operating margin	42.9%	Operating Income: 20539962000 Open source Revenue: 47912039000 Open source
20222022-12-31	Operating margin	17.2%	Operating Income: 7641462000 Open source Revenue: 44362120000 Open source
20232023-12-31	Operating margin	11.4%	Operating Income: 5186749000 Open source Revenue: 45437950000 Open source
20242024-12-31	Operating margin	9.8%	Operating Income: 4270022000 Open source Revenue: 43687460000 Open source
20252025-12-31	Operating margin	10.8%	Operating Income: 4816674000 Open source Revenue: 44797946000 Open source
20172017-12-31	Net margin	0.1%	Net Income: 10272000 Open source Revenue: 18524601000 Open source
20182018-12-31	Net margin	22.1%	Net Income: 5074136000 Open source Revenue: 22968885000 Open source
20192019-12-31	Net margin	7%	Net Income: 1789067000 Open source Revenue: 25436417000 Open source
20202020-12-31	Net margin	12.6%	Net Income: 3794295000 Open source Revenue: 30064020000 Open source
20212021-12-31	Net margin	25.6%	Net Income: 12258628000 Open source Revenue: 47912039000 Open source
20222022-12-31	Net margin	3.5%	Net Income: 1554060000 Open source Revenue: 44362120000 Open source
20232023-12-31	Net margin	-0.7%	Net Income: -318206000 Open source Revenue: 45437950000 Open source
20242024-12-31	Net margin	-5.9%	Net Income: -2591851000 Open source Revenue: 43687460000 Open source
20252025-12-31	Net margin	-4.5%	Net Income: -2002374000 Open source Revenue: 44797946000 Open source
20172017-12-31	Free cash flow margin	-2.6%	Revenue: 18524601000 Open source Operating Cash Flow: 571851000 Open source Capital Expenditure: 1059481000 Open source
20182018-12-31	Free cash flow margin	3.9%	Revenue: 22968885000 Open source Operating Cash Flow: 2208105000 Open source Capital Expenditure: 1317102000 Open source
20192019-12-31	Free cash flow margin	10.4%	Revenue: 25436417000 Open source Operating Cash Flow: 4871879000 Open source Capital Expenditure: 2215883000 Open source
20202020-12-31	Free cash flow margin	26.3%	Revenue: 30064020000 Open source Operating Cash Flow: 9576874000 Open source Capital Expenditure: 1683839000 Open source
20212021-12-31	Free cash flow margin	24.9%	Revenue: 47912039000 Open source Operating Cash Flow: 14793263000 Open source Capital Expenditure: 2864707000 Open source
20222022-12-31	Free cash flow margin	-3%	Revenue: 44362120000 Open source Operating Cash Flow: 2042793000 Open source Capital Expenditure: 3352210000 Open source
20232023-12-31	Free cash flow margin	6.3%	Revenue: 45437950000 Open source Operating Cash Flow: 7292608000 Open source Capital Expenditure: 4408119000 Open source
20242024-12-31	Free cash flow margin	7.2%	Revenue: 43687460000 Open source Operating Cash Flow: 8650505000 Open source Capital Expenditure: 5494335000 Open source
20252025-12-31	Free cash flow margin	-15.4%	Revenue: 44797946000 Open source Operating Cash Flow: -973179000 Open source Capital Expenditure: 5935897000 Open source

Operating cash flow

Cash generated by the company’s normal business operations.

BRL -973.2M 2025

Values and sources

Operating cash flow values and source evidence
Period	Series	Value(BRL)	Source evidence
20172017-12-31	Operating cash flow	571851000	Operating Cash Flow: 571851000 Open source
20182018-12-31	Operating cash flow	2208105000	Operating Cash Flow: 2208105000 Open source
20192019-12-31	Operating cash flow	4871879000	Operating Cash Flow: 4871879000 Open source
20202020-12-31	Operating cash flow	9576874000	Operating Cash Flow: 9576874000 Open source
20212021-12-31	Operating cash flow	14793263000	Operating Cash Flow: 14793263000 Open source
20222022-12-31	Operating cash flow	2042793000	Operating Cash Flow: 2042793000 Open source
20232023-12-31	Operating cash flow	7292608000	Operating Cash Flow: 7292608000 Open source
20242024-12-31	Operating cash flow	8650505000	Operating Cash Flow: 8650505000 Open source
20252025-12-31	Operating cash flow	-973179000	Operating Cash Flow: -973179000 Open source

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

BRL -6.9B 2025

Values and sources

Free cash flow values and source evidence
Period	Series	Value(BRL)	Source evidence
20172017-12-31	Free cash flow	-487630000	Operating Cash Flow: 571851000 Open source Capital Expenditure: 1059481000 Open source
20182018-12-31	Free cash flow	891003000	Operating Cash Flow: 2208105000 Open source Capital Expenditure: 1317102000 Open source
20192019-12-31	Free cash flow	2655996000	Operating Cash Flow: 4871879000 Open source Capital Expenditure: 2215883000 Open source
20202020-12-31	Free cash flow	7893035000	Operating Cash Flow: 9576874000 Open source Capital Expenditure: 1683839000 Open source
20212021-12-31	Free cash flow	11928556000	Operating Cash Flow: 14793263000 Open source Capital Expenditure: 2864707000 Open source
20222022-12-31	Free cash flow	-1309417000	Operating Cash Flow: 2042793000 Open source Capital Expenditure: 3352210000 Open source
20232023-12-31	Free cash flow	2884489000	Operating Cash Flow: 7292608000 Open source Capital Expenditure: 4408119000 Open source
20242024-12-31	Free cash flow	3156170000	Operating Cash Flow: 8650505000 Open source Capital Expenditure: 5494335000 Open source
20252025-12-31	Free cash flow	-6909076000	Operating Cash Flow: -973179000 Open source Capital Expenditure: 5935897000 Open source

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

0.5% 2020

Values and sources

Liabilities to assets values and source evidence
Period	Series	Value	Source evidence
2017-12-31	Liabilities / assets	Not reported	No source recorded
2018-12-31	Liabilities / assets	Not reported	Total Assets: 47327524000 Open source
20192019-12-31	Liabilities / assets	0.8%	Total Liabilities: 419894000 Open source Total Assets: 50869276000 Open source
20202020-12-31	Liabilities / assets	0.5%	Total Liabilities: 344488000 Open source Total Assets: 63002149000 Open source
2021-12-31	Liabilities / assets	Not reported	Total Assets: 79379103000 Open source
2022-12-31	Liabilities / assets	Not reported	Total Assets: 85354359000 Open source
2023-12-31	Liabilities / assets	Not reported	Total Assets: 91529720000 Open source
2024-12-31	Liabilities / assets	Not reported	Total Assets: 103906654000 Open source
2025-12-31	Liabilities / assets	Not reported	Total Assets: 100575369000 Open source

Current assets to current liabilities

Current assets divided by current liabilities.

1.43× 2021

Values and sources

Current assets to current liabilities values and source evidence
Period	Series	Value	Source evidence
2017-12-31	Current assets / current liabilities	Not reported	No source recorded
20182018-12-31	Current assets / current liabilities	1.05×	Current Assets: 12014483000 Open source Current Liabilities: 11438552000 Open source
20192019-12-31	Current assets / current liabilities	1.1×	Current Assets: 12725805000 Open source Current Liabilities: 11619957000 Open source
20202020-12-31	Current assets / current liabilities	1.59×	Current Assets: 23386194000 Open source Current Liabilities: 14725696000 Open source
20212021-12-31	Current assets / current liabilities	1.43×	Current Assets: 34972354000 Open source Current Liabilities: 24541616000 Open source
2022-12-31	Current assets / current liabilities	Not reported	Current Liabilities: 22475119000 Open source
2023-12-31	Current assets / current liabilities	Not reported	Current Liabilities: 25017103000 Open source
2024-12-31	Current assets / current liabilities	Not reported	Current Liabilities: 25116475000 Open source
2025-12-31	Current assets / current liabilities	Not reported	Current Liabilities: 28074399000 Open source

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
Period	Net income	Operating cash flow	Capital expenditure	Free cash flow
2017 2017-01-01 – 2017-12-31	BRL 10.27 million Exact value Exact value: 10272000 BRL 2017-01-01 – 2017-12-31: 10272000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2017-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: 10272000 BRL Concept: fundies:NetIncome Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=BRL&dimensions= Input fundies:NetIncome: 10272000 BRL (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281420001301/sid-20191231.xml#1075198 Filing: 000129281420001301 The citation records this snapshot. The page link may show a newer release later.	BRL 571.85 million Exact value Exact value: 571851000 BRL 2017-01-01 – 2017-12-31: 571851000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2017-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: 571851000 BRL Concept: fundies:OperatingCashFlow Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: 571851000 BRL (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281420001301/sid-20191231.xml#1179417 Filing: 000129281420001301 The citation records this snapshot. The page link may show a newer release later.	BRL 1.06 billion Exact value Exact value: 1059481000 BRL 2017-01-01 – 2017-12-31: 1059481000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2017-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 1059481000 BRL Concept: fundies:CapitalExpenditure Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 1059481000 BRL (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281420001301/sid-20191231.xml#1180674 Filing: 000129281420001301 The citation records this snapshot. The page link may show a newer release later.	−BRL 487.63 million Calculation and evidence 571851000 − 1059481000 BRL Exact free cash flow: -487630000 BRL 2017-01-01 – 2017-12-31: 571851000 BRL · Inspect Operating Cash Flow · Source 2017-01-01 – 2017-12-31: 1059481000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2017-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: -487630000 BRL Concept: free-cash-flow Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 571851000 BRL (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281420001301/sid-20191231.xml#1179417 Filing: 000129281420001301 Input fundies:CapitalExpenditure: 1059481000 BRL (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281420001301/sid-20191231.xml#1180674 Filing: 000129281420001301 The citation records this snapshot. The page link may show a newer release later.
2018 2018-01-01 – 2018-12-31	BRL 5.07 billion Exact value Exact value: 5074136000 BRL 2018-01-01 – 2018-12-31: 5074136000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2018-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: 5074136000 BRL Concept: fundies:NetIncome Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=BRL&dimensions= Input fundies:NetIncome: 5074136000 BRL (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281421001501/sid-20201231.xml#1489338 Filing: 000129281421001501 The citation records this snapshot. The page link may show a newer release later.	BRL 2.21 billion Exact value Exact value: 2208105000 BRL 2018-01-01 – 2018-12-31: 2208105000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2018-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: 2208105000 BRL Concept: fundies:OperatingCashFlow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: 2208105000 BRL (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281421001501/sid-20201231.xml#1695435 Filing: 000129281421001501 The citation records this snapshot. The page link may show a newer release later.	BRL 1.32 billion Exact value Exact value: 1317102000 BRL 2018-01-01 – 2018-12-31: 1317102000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2018-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 1317102000 BRL Concept: fundies:CapitalExpenditure Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 1317102000 BRL (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281421001501/sid-20201231.xml#1696990 Filing: 000129281421001501 The citation records this snapshot. The page link may show a newer release later.	BRL 891 million Calculation and evidence 2208105000 − 1317102000 BRL Exact free cash flow: 891003000 BRL 2018-01-01 – 2018-12-31: 2208105000 BRL · Inspect Operating Cash Flow · Source 2018-01-01 – 2018-12-31: 1317102000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2018-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: 891003000 BRL Concept: free-cash-flow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 2208105000 BRL (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281421001501/sid-20201231.xml#1695435 Filing: 000129281421001501 Input fundies:CapitalExpenditure: 1317102000 BRL (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281421001501/sid-20201231.xml#1696990 Filing: 000129281421001501 The citation records this snapshot. The page link may show a newer release later.
2019 2019-01-01 – 2019-12-31	BRL 1.79 billion Exact value Exact value: 1789067000 BRL 2019-01-01 – 2019-12-31: 1789067000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2019-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: 1789067000 BRL Concept: fundies:NetIncome Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=BRL&dimensions= Input fundies:NetIncome: 1789067000 BRL (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281422002374/sidform20f_2021.htm#6565286 Filing: 000129281422002374 The citation records this snapshot. The page link may show a newer release later.	BRL 4.87 billion Exact value Exact value: 4871879000 BRL 2019-01-01 – 2019-12-31: 4871879000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2019-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: 4871879000 BRL Concept: fundies:OperatingCashFlow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: 4871879000 BRL (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281422002374/sidform20f_2021.htm#2960893 Filing: 000129281422002374 The citation records this snapshot. The page link may show a newer release later.	BRL 2.22 billion Exact value Exact value: 2215883000 BRL 2019-01-01 – 2019-12-31: 2215883000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2019-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 2215883000 BRL Concept: fundies:CapitalExpenditure Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 2215883000 BRL (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281422002374/sidform20f_2021.htm#2966418 Filing: 000129281422002374 The citation records this snapshot. The page link may show a newer release later.	BRL 2.66 billion Calculation and evidence 4871879000 − 2215883000 BRL Exact free cash flow: 2655996000 BRL 2019-01-01 – 2019-12-31: 4871879000 BRL · Inspect Operating Cash Flow · Source 2019-01-01 – 2019-12-31: 2215883000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2019-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: 2655996000 BRL Concept: free-cash-flow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 4871879000 BRL (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281422002374/sidform20f_2021.htm#2960893 Filing: 000129281422002374 Input fundies:CapitalExpenditure: 2215883000 BRL (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281422002374/sidform20f_2021.htm#2966418 Filing: 000129281422002374 The citation records this snapshot. The page link may show a newer release later.
2020 2020-01-01 – 2020-12-31	BRL 3.79 billion Exact value Exact value: 3794295000 BRL 2020-01-01 – 2020-12-31: 3794295000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2020-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: 3794295000 BRL Concept: fundies:NetIncome Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=BRL&dimensions= Input fundies:NetIncome: 3794295000 BRL (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281423001912/sidform20f_2022.htm#5987666 Filing: 000129281423001912 The citation records this snapshot. The page link may show a newer release later.	BRL 9.58 billion Exact value Exact value: 9576874000 BRL 2020-01-01 – 2020-12-31: 9576874000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2020-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: 9576874000 BRL Concept: fundies:OperatingCashFlow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: 9576874000 BRL (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281423001912/sidform20f_2022.htm#3089195 Filing: 000129281423001912 The citation records this snapshot. The page link may show a newer release later.	BRL 1.68 billion Exact value Exact value: 1683839000 BRL 2020-01-01 – 2020-12-31: 1683839000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2020-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 1683839000 BRL Concept: fundies:CapitalExpenditure Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 1683839000 BRL (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281423001912/sidform20f_2022.htm#3093674 Filing: 000129281423001912 The citation records this snapshot. The page link may show a newer release later.	BRL 7.89 billion Calculation and evidence 9576874000 − 1683839000 BRL Exact free cash flow: 7893035000 BRL 2020-01-01 – 2020-12-31: 9576874000 BRL · Inspect Operating Cash Flow · Source 2020-01-01 – 2020-12-31: 1683839000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2020-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: 7893035000 BRL Concept: free-cash-flow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 9576874000 BRL (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281423001912/sidform20f_2022.htm#3089195 Filing: 000129281423001912 Input fundies:CapitalExpenditure: 1683839000 BRL (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281423001912/sidform20f_2022.htm#3093674 Filing: 000129281423001912 The citation records this snapshot. The page link may show a newer release later.
2021 2021-01-01 – 2021-12-31	BRL 12.26 billion Exact value Exact value: 12258628000 BRL 2021-01-01 – 2021-12-31: 12258628000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2021-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: 12258628000 BRL Concept: fundies:NetIncome Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=BRL&dimensions= Input fundies:NetIncome: 12258628000 BRL (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281424001763/sidform20f_2023.htm#5864350 Filing: 000129281424001763 The citation records this snapshot. The page link may show a newer release later.	BRL 14.79 billion Exact value Exact value: 14793263000 BRL 2021-01-01 – 2021-12-31: 14793263000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2021-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: 14793263000 BRL Concept: fundies:OperatingCashFlow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: 14793263000 BRL (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281424001763/sidform20f_2023.htm#2949174 Filing: 000129281424001763 The citation records this snapshot. The page link may show a newer release later.	BRL 2.86 billion Exact value Exact value: 2864707000 BRL 2021-01-01 – 2021-12-31: 2864707000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2021-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 2864707000 BRL Concept: fundies:CapitalExpenditure Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 2864707000 BRL (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281424001763/sidform20f_2023.htm#2954959 Filing: 000129281424001763 The citation records this snapshot. The page link may show a newer release later.	BRL 11.93 billion Calculation and evidence 14793263000 − 2864707000 BRL Exact free cash flow: 11928556000 BRL 2021-01-01 – 2021-12-31: 14793263000 BRL · Inspect Operating Cash Flow · Source 2021-01-01 – 2021-12-31: 2864707000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2021-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: 11928556000 BRL Concept: free-cash-flow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 14793263000 BRL (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281424001763/sidform20f_2023.htm#2949174 Filing: 000129281424001763 Input fundies:CapitalExpenditure: 2864707000 BRL (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281424001763/sidform20f_2023.htm#2954959 Filing: 000129281424001763 The citation records this snapshot. The page link may show a newer release later.
2022 2022-01-01 – 2022-12-31	BRL 1.55 billion Exact value Exact value: 1554060000 BRL 2022-01-01 – 2022-12-31: 1554060000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2022-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: 1554060000 BRL Concept: fundies:NetIncome Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=BRL&dimensions= Input fundies:NetIncome: 1554060000 BRL (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281425001805/sidform20f_2024.htm#5446031 Filing: 000129281425001805 The citation records this snapshot. The page link may show a newer release later.	BRL 2.04 billion Exact value Exact value: 2042793000 BRL 2022-01-01 – 2022-12-31: 2042793000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2022-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: 2042793000 BRL Concept: fundies:OperatingCashFlow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: 2042793000 BRL (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281425001805/sidform20f_2024.htm#2814458 Filing: 000129281425001805 The citation records this snapshot. The page link may show a newer release later.	BRL 3.35 billion Exact value Exact value: 3352210000 BRL 2022-01-01 – 2022-12-31: 3352210000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2022-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 3352210000 BRL Concept: fundies:CapitalExpenditure Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 3352210000 BRL (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281425001805/sidform20f_2024.htm#2819995 Filing: 000129281425001805 The citation records this snapshot. The page link may show a newer release later.	−BRL 1.31 billion Calculation and evidence 2042793000 − 3352210000 BRL Exact free cash flow: -1309417000 BRL 2022-01-01 – 2022-12-31: 2042793000 BRL · Inspect Operating Cash Flow · Source 2022-01-01 – 2022-12-31: 3352210000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2022-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: -1309417000 BRL Concept: free-cash-flow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 2042793000 BRL (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281425001805/sidform20f_2024.htm#2814458 Filing: 000129281425001805 Input fundies:CapitalExpenditure: 3352210000 BRL (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281425001805/sidform20f_2024.htm#2819995 Filing: 000129281425001805 The citation records this snapshot. The page link may show a newer release later.
2023 2023-01-01 – 2023-12-31	−BRL 318.21 million Exact value Exact value: -318206000 BRL 2023-01-01 – 2023-12-31: -318206000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2023-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: -318206000 BRL Concept: fundies:NetIncome Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=BRL&dimensions= Input fundies:NetIncome: -318206000 BRL (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#6146208 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	BRL 7.29 billion Exact value Exact value: 7292608000 BRL 2023-01-01 – 2023-12-31: 7292608000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2023-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: 7292608000 BRL Concept: fundies:OperatingCashFlow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: 7292608000 BRL (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3123200 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	BRL 4.41 billion Exact value Exact value: 4408119000 BRL 2023-01-01 – 2023-12-31: 4408119000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2023-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 4408119000 BRL Concept: fundies:CapitalExpenditure Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 4408119000 BRL (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3127578 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	BRL 2.88 billion Calculation and evidence 7292608000 − 4408119000 BRL Exact free cash flow: 2884489000 BRL 2023-01-01 – 2023-12-31: 7292608000 BRL · Inspect Operating Cash Flow · Source 2023-01-01 – 2023-12-31: 4408119000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2023-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: 2884489000 BRL Concept: free-cash-flow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 7292608000 BRL (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3123200 Filing: 000129281426002714 Input fundies:CapitalExpenditure: 4408119000 BRL (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3127578 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.
2024 2024-01-01 – 2024-12-31	−BRL 2.59 billion Exact value Exact value: -2591851000 BRL 2024-01-01 – 2024-12-31: -2591851000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2024-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: -2591851000 BRL Concept: fundies:NetIncome Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=BRL&dimensions= Input fundies:NetIncome: -2591851000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#6145915 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	BRL 8.65 billion Exact value Exact value: 8650505000 BRL 2024-01-01 – 2024-12-31: 8650505000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2024-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: 8650505000 BRL Concept: fundies:OperatingCashFlow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: 8650505000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3122696 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	BRL 5.49 billion Exact value Exact value: 5494335000 BRL 2024-01-01 – 2024-12-31: 5494335000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2024-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 5494335000 BRL Concept: fundies:CapitalExpenditure Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 5494335000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3127181 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	BRL 3.16 billion Calculation and evidence 8650505000 − 5494335000 BRL Exact free cash flow: 3156170000 BRL 2024-01-01 – 2024-12-31: 8650505000 BRL · Inspect Operating Cash Flow · Source 2024-01-01 – 2024-12-31: 5494335000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2024-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: 3156170000 BRL Concept: free-cash-flow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 8650505000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3122696 Filing: 000129281426002714 Input fundies:CapitalExpenditure: 5494335000 BRL (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3127181 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.
2025 2025-01-01 – 2025-12-31	−BRL 2 billion Exact value Exact value: -2002374000 BRL 2025-01-01 – 2025-12-31: -2002374000 BRL Inspect Net Income Open source Share or cite Citation for Net Income · NATIONAL STEEL CO · 2025-12-31 NATIONAL STEEL CO (edgar:1049659) Net Income: -2002374000 BRL Concept: fundies:NetIncome Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ANetIncome&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=BRL&dimensions= Input fundies:NetIncome: -2002374000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#6145555 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	−BRL 973.18 million Exact value Exact value: -973179000 BRL 2025-01-01 – 2025-12-31: -973179000 BRL Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · NATIONAL STEEL CO · 2025-12-31 NATIONAL STEEL CO (edgar:1049659) Operating Cash Flow: -973179000 BRL Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3AOperatingCashFlow&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=BRL&dimensions= Input fundies:OperatingCashFlow: -973179000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3122182 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	BRL 5.94 billion Exact value Exact value: 5935897000 BRL 2025-01-01 – 2025-12-31: 5935897000 BRL Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · NATIONAL STEEL CO · 2025-12-31 NATIONAL STEEL CO (edgar:1049659) Capital Expenditure: 5935897000 BRL Concept: fundies:CapitalExpenditure Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659/explain?concept=fundies%3ACapitalExpenditure&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=BRL&dimensions= Input fundies:CapitalExpenditure: 5935897000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3126782 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.	−BRL 6.91 billion Calculation and evidence -973179000 − 5935897000 BRL Exact free cash flow: -6909076000 BRL 2025-01-01 – 2025-12-31: -973179000 BRL · Inspect Operating Cash Flow · Source 2025-01-01 – 2025-12-31: 5935897000 BRL · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · NATIONAL STEEL CO · 2025-12-31 NATIONAL STEEL CO (edgar:1049659) Free cash flow: -6909076000 BRL Concept: free-cash-flow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T20:11:57Z Snapshot: 1cb6f4bbe2ab555d4cad83fa401e44f589c83483be0f2f269aa5ceec42a54e21 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1049659?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -973179000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3122182 Filing: 000129281426002714 Input fundies:CapitalExpenditure: 5935897000 BRL (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1049659/000129281426002714/sidform20f_2025.htm#3126782 Filing: 000129281426002714 The citation records this snapshot. The page link may show a newer release later.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

755 filings · 896 latest values · 896 originally reported values

Dataset published 2026-11-02. Source filing dates and reporting periods are shown separately.

Identifiers: 0001049659, 1049659, SID, edgar:1049659

Also known as NATIONAL STEEL CO

NATIONAL STEEL CO

Latest fiscal year

Revenue

Operating margin

Operating cash flow

Free cash flow

Company performance

What changed year over year

Revenue

Net income

Operating cash flow

Capital expenditure

Where revenue goes

2025 2025-01-01 – 2025-12-31

Cash

Share of revenue by period

Growth

Profit and cash

Balance sheet

Cash generation