Gerdau S.A. (GGB) Stock Price & How to Invest
Last updated July 2026
Short answer
GGB is the NYSE-listed ADR of Gerdau S.A., Brazil's largest steelmaker and a leading long-steel and mini-mill producer across the Americas. Investors typically treat it as a cyclical, dividend-paying way to gain exposure to steel demand in Brazil and North America.
GGB stock price
As of 2026-07-22, Gerdau S.A. (GGB) last closed at $4.77, up 53.4% over the past year. Over the past 52 weeks it has traded between $2.86 and $4.93.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Gerdau S.A.'s investor relations page. Walnut is informational, not investment advice.
What does Gerdau S.A. (GGB) do?
Gerdau S.A. is Brazil's largest steel producer and one of the biggest long-steel and special-steel makers in the Americas. It operates through three main segments: Brazil, North America (the United States, Canada, and Mexico), and South America (Argentina, Peru, and Uruguay), and it relies heavily on electric-arc mini-mills that recycle scrap into rebar, wire rod, merchant bars, and special steels used in construction, autos, and industry. The company also runs a Gerdau Next division targeting businesses adjacent to steel, and produces some iron ore and flat steel for its own use in Brazil.
As an ADR, GGB gives US investors exposure to a cyclical, commodity-linked business whose earnings move with steel prices, construction and industrial demand, scrap and energy costs, and the Brazilian real. In 2025, strong North American demand and higher shipments offset weakness in Brazil, where record steel imports pressured margins. The stock is generally viewed as a value-oriented, dividend-paying way to play the steel cycle, with results that can be lumpy from quarter to quarter depending on regional conditions and pricing.
What's driving Gerdau S.A. (GGB)?
1. North America strength
Gerdau's North American segment delivered rising shipments and a meaningful EBITDA increase in 2025, benefiting from steady construction and industrial demand and healthy mill utilization. Continued US infrastructure and reshoring activity, plus trade protections on imported steel, support this region as a key earnings pillar.
2. Capital investment and modernization
The company approved roughly R$4.7 billion in capital expenditure for 2026, funding capacity, efficiency, and modernization projects. These investments aim to lower costs and improve competitiveness in its mini-mill footprint, though they also absorb free cash flow in the near term.
3. Shareholder returns and cyclicality
Gerdau pays regular dividends and has a history of returning cash to shareholders when the cycle is favorable. The mini-mill, scrap-based model is relatively flexible on volumes, which can help the company manage downturns better than some integrated peers.
4. Brazil recovery potential
The Brazil segment was pressured in 2025 by record import volumes and weaker margins. Any tightening of import controls, a firmer domestic construction market, or better steel pricing in Brazil could restore a large portion of earnings that is currently depressed.
What are the risks to Gerdau S.A. (GGB)?
Steel is deeply cyclical, so revenue and profit can fall sharply when construction and industrial demand slow or when steel prices decline. Brazilian operations face intense competition from imports (which hit record volumes in 2025) and from domestic rivals, compressing margins. As a Brazilian ADR, GGB carries currency risk from the real, plus Brazilian political, tax, and regulatory exposure that can affect reported dollar results. Scrap, energy, and iron-ore input costs are volatile, and heavy capital spending can weigh on free cash flow in soft years. Trade policy and tariffs in North America can cut both ways for demand and pricing.
How is Gerdau S.A. (GGB) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Gerdau S.A.'s investor relations page or your broker.
- Revenue (TTM): ~$13 billion (roughly R$70 billion for 2025)
- Net income (TTM): ~$560 million
- Adjusted EBITDA (2025): ~R$10.1 billion (down ~7% YoY)
- Market cap: ~$8 to 9 billion
- P/E ratio: ~14 trailing, ~9 forward
- Dividend yield: ~2.5%
Gerdau trades at cyclical-value multiples, with an EV/EBITDA around 6 and a low double-digit trailing P/E that compresses further on forward estimates. Steel shipments grew about 6% to roughly 11.6 million tonnes in 2025, but weaker Brazil margins pulled adjusted EBITDA down modestly for the year. Reported figures move with steel prices and the real, so trailing metrics can shift quickly across quarters.
Who competes with Gerdau S.A. (GGB)?
North American mini-mill and steel producers
Nucor, Steel Dynamics, Commercial Metals Company (CMC), and Cleveland-Cliffs compete with Gerdau's North American long-steel and special-steel operations, where Gerdau ranks among the largest mini-mill producers.
Brazilian and Latin American steelmakers
ArcelorMittal Brazil, Companhia Siderurgica Nacional (CSN), Usiminas, and Ternium compete in the Brazilian and broader Latin American market, with ArcelorMittal and Gerdau together accounting for a large share of Brazilian steel output.
Steel imports and global producers
Low-cost imported steel, much of it from Asia, has increasingly pressured Gerdau's Brazil segment, with import volumes hitting record levels and weighing on domestic pricing and margins.
How to invest in Gerdau S.A. (GGB)
There are three common ways to get GGB exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so GGB sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where GGB fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Gerdau S.A. (GGB)
GGB offers ADR exposure to a large, established Americas steel producer whose fortunes swing with construction demand, steel prices, and currency, so it tends to behave as a cyclical value name rather than a steady grower.
More on Gerdau S.A. (GGB)
Whether GGB is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is GGB a buy?, and where the stock could go from here in the GGB stock forecast.
For income investors, whether GGB pays a dividend and how the payout looks is covered in does GGB pay a dividend?
Build a basket around GGB with Walnut
Use Gerdau S.A. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is GGB stock?
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GGB is the New York Stock Exchange ADR (American Depositary Receipt) for Gerdau S.A., Brazil's largest steel producer and a major long-steel and special-steel maker across the Americas. Buying GGB gives US investors exposure to Gerdau's common shares.
What does Gerdau do?
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Gerdau makes steel, primarily long steel such as rebar, wire rod, and merchant bars, plus special steels for autos and industry. It runs electric-arc mini-mills that recycle scrap and operates in Brazil, North America, and South America.
Where does Gerdau operate?
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Gerdau reports three main segments: Brazil, North America (United States, Canada, and Mexico), and South America (Argentina, Peru, and Uruguay). North America was its strongest region in 2025, while Brazil faced pressure from imports.
Is GGB a dividend stock?
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Gerdau pays regular dividends and has a history of returning cash to shareholders. Its dividend yield has recently been around 2.5%, though the amount can vary with earnings since payouts are tied to a cyclical steel business.
How did Gerdau perform in 2025?
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Steel shipments rose about 6% to roughly 11.6 million tonnes in 2025, and North American earnings grew, but weaker Brazil margins from record imports pulled adjusted EBITDA down about 7% year over year to roughly R$10.1 billion.
Who are Gerdau's main competitors?
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In North America, Gerdau competes with Nucor, Steel Dynamics, Commercial Metals, and Cleveland-Cliffs. In Brazil and Latin America, rivals include ArcelorMittal, CSN, Usiminas, and Ternium, plus a rising tide of imported steel.
What are the main risks of GGB?
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Gerdau is highly cyclical and sensitive to steel prices, construction demand, and input costs. As a Brazilian ADR it carries currency risk from the real plus Brazilian political and regulatory exposure, and its Brazil segment faces heavy import competition.
How is GGB valued?
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As of July 2026, GGB carried a market cap of roughly $8 to 9 billion, a trailing P/E near 14 (single-digit on a forward basis), and an EV/EBITDA around 6, reflecting the low multiples typical of a cyclical steel producer.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Gerdau S.A.'s investor relations page or your broker before making investment decisions.