Gerdau Balance Sheet

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	5,276	5,929	7,768	3,006	2,476	4,161
Short-Term Investments	313.95	445.63	509.03	2,338	2,959	2,626
Cash & Short-Term Investments	5,590	6,375	8,277	5,344	5,435	6,787
Cash Growth	-18.63%	-22.98%	54.89%	-1.68%	-19.92%	-11.38%
Accounts Receivable	5,863	4,811	5,177	4,875	4,999	5,414
Other Receivables	1,359	1,973	2,068	1,997	2,213	2,896
Receivables	7,221	6,784	7,245	6,872	7,212	8,310
Inventory	15,190	14,731	16,505	15,228	17,818	16,861
Other Current Assets	571.87	715.52	643.07	1,754	793.17	682.44
Total Current Assets	28,574	28,605	32,669	29,198	31,257	32,640
Property, Plant & Equipment	32,008	31,912	30,760	24,063	21,384	19,604
Long-Term Investments	3,863	3,944	4,222	3,858	3,897	3,432
Goodwill	11,376	11,996	13,853	10,825	11,634	12,428
Other Intangible Assets	684.97	691.37	400.57	373.71	415.16	509.76
Long-Term Deferred Tax Assets	2,560	2,562	2,428	2,219	2,164	2,929
Other Long-Term Assets	1,982	1,977	2,481	4,347	3,047	2,269
Total Assets	81,048	81,688	86,814	74,885	73,799	73,815
Accounts Payable	5,953	4,628	5,258	5,317	5,966	7,209
Accrued Expenses	1,422	1,699	1,576	1,498	1,714	1,979
Current Portion of Long-Term Debt	909.84	945.21	735.04	1,798	3,121	1,766
Current Portion of Leases	472.96	386.47	430.73	373.15	275.93	275.09
Current Income Taxes Payable	183.27	289.86	346.21	502.77	497.24	863.14
Other Current Liabilities	1,420	1,938	2,506	1,796	1,888	1,944
Total Current Liabilities	10,360	9,887	10,851	11,285	13,463	14,037
Long-Term Debt	12,925	13,240	12,901	9,121	9,511	12,298
Long-Term Leases	1,067	1,003	849.94	904.45	754.71	643.28
Pension & Post-Retirement Benefits	367.01	404.09	545.21	706.77	893.38	1,415
Long-Term Deferred Tax Liabilities	369.39	353.83	163.14	204.15	96.34	98.98
Other Long-Term Liabilities	2,987	3,001	3,330	3,426	2,782	2,507
Total Liabilities	28,076	27,890	28,641	25,646	27,500	30,999
Common Stock	24,273	24,273	24,273	20,215	19,249	19,249
Retained Earnings	23,723	23,055	24,238	25,915	22,173	17,838
Treasury Stock	-553.73	-520.07	-734.28	-150.18	-180	-152.41
Comprehensive Income & Other	5,330	6,778	10,172	3,079	4,874	5,669
Total Common Equity	52,772	53,585	57,949	49,059	46,116	42,604
Minority Interest	199.54	213.1	225.03	179.9	182	211.37
Shareholders' Equity	52,972	53,798	58,174	49,239	46,298	42,816
Total Liabilities & Equity	81,048	81,688	86,814	74,885	73,799	73,815
Total Debt	15,375	15,575	14,917	12,196	13,663	14,983
Net Cash (Debt)	-9,785	-9,200	-6,640	-6,852	-8,228	-8,196
Net Cash Per Share	-4.90	-4.57	-3.16	-3.25	-3.90	-3.80
Filing Date Shares Outstanding	1,967	1,975	2,041	2,099	2,096	2,149
Total Common Shares Outstanding	1,967	1,975	2,041	2,099	2,096	2,149
Working Capital	18,213	18,718	21,818	17,913	17,795	18,604
Book Value Per Share	26.82	27.13	28.39	23.37	22.00	19.82
Tangible Book Value	40,711	40,898	43,695	37,860	34,067	29,667
Tangible Book Value Per Share	20.69	20.71	21.41	18.03	16.25	13.80
Land	-	12,902	12,744	10,873	10,430	10,221
Machinery	-	49,877	48,252	40,167	39,661	37,883
Construction In Progress	-	8,660	8,600	5,517	3,715	3,621

Source: S&P Global Market Intelligence. Standard template. Financial Sources.