Gerdau Balance Sheet

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	9,390	7,768	3,006	2,476	4,161	4,617
Short-Term Investments	484.01	509.03	2,338	2,959	2,626	-
Trading Asset Securities	-	-	-	-	-	3,041
Cash & Short-Term Investments	9,874	8,277	5,344	5,435	6,787	7,658
Cash Growth	11.80%	54.89%	-1.68%	-19.92%	-11.38%	21.61%
Accounts Receivable	5,878	5,177	4,875	4,999	5,414	3,737
Other Receivables	1,659	2,068	1,997	2,213	2,896	2,253
Receivables	7,538	7,245	6,872	7,212	8,310	5,990
Inventory	15,272	16,505	15,228	17,818	16,861	9,169
Other Current Assets	716.32	643.07	1,754	793.17	682.44	591.52
Total Current Assets	33,400	32,669	29,198	31,257	32,640	23,409
Property, Plant & Equipment	32,270	30,760	24,063	21,384	19,604	18,068
Long-Term Investments	4,046	4,222	3,858	3,897	3,432	2,272
Goodwill	11,956	13,853	10,825	11,634	12,428	12,104
Other Intangible Assets	711.95	400.57	373.71	415.16	509.76	622.58
Long-Term Deferred Tax Assets	2,356	2,428	2,219	2,164	2,929	3,393
Other Long-Term Assets	2,517	2,481	4,347	3,047	2,269	3,120
Total Assets	87,256	86,814	74,885	73,799	73,815	63,123
Accounts Payable	5,132	5,258	5,317	5,966	7,209	4,712
Accrued Expenses	1,680	1,576	1,498	1,714	1,979	1,318
Current Portion of Long-Term Debt	3,315	735.04	1,798	3,121	1,766	1,432
Current Portion of Leases	381.81	430.73	373.15	275.93	275.09	231.7
Current Income Taxes Payable	183.69	346.21	502.77	497.24	863.14	810.13
Other Current Liabilities	1,660	2,506	1,796	1,888	1,944	2,979
Total Current Liabilities	12,353	10,851	11,285	13,463	14,037	11,482
Long-Term Debt	15,329	12,901	9,121	9,511	12,298	16,107
Long-Term Leases	963.57	849.94	904.45	754.71	643.28	624.77
Pension & Post-Retirement Benefits	457.21	545.21	706.77	893.38	1,415	1,861
Long-Term Deferred Tax Liabilities	300.79	163.14	204.15	96.34	98.98	61.56
Other Long-Term Liabilities	3,114	3,330	3,426	2,782	2,507	1,901
Total Liabilities	32,518	28,641	25,646	27,500	30,999	32,038
Common Stock	24,273	24,273	20,215	19,249	19,249	19,249
Retained Earnings	25,119	24,238	25,915	22,173	17,838	7,292
Treasury Stock	-549.57	-734.28	-150.18	-180	-152.41	-229.31
Comprehensive Income & Other	5,697	10,172	3,079	4,874	5,669	4,548
Total Common Equity	54,539	57,949	49,059	46,116	42,604	30,860
Minority Interest	198.87	225.03	179.9	182	211.37	224.94
Shareholders' Equity	54,738	58,174	49,239	46,298	42,816	31,085
Total Liabilities & Equity	87,256	86,814	74,885	73,799	73,815	63,123
Total Debt	19,989	14,917	12,196	13,663	14,983	18,395
Net Cash (Debt)	-10,116	-6,640	-6,852	-8,228	-8,196	-10,736
Net Cash Per Share	-4.98	-3.16	-3.25	-3.90	-3.80	-4.98
Filing Date Shares Outstanding	1,985	2,041	2,099	2,096	2,149	2,143
Total Common Shares Outstanding	1,985	2,041	2,099	2,096	2,149	2,143
Working Capital	21,047	21,818	17,913	17,795	18,604	11,927
Book Value Per Share	27.48	28.39	23.37	22.00	19.82	14.40
Tangible Book Value	41,872	43,695	37,860	34,067	29,667	18,134
Tangible Book Value Per Share	21.09	21.41	18.03	16.25	13.80	8.46
Land	-	12,744	10,873	10,430	10,221	9,940
Machinery	-	48,252	40,167	39,661	37,883	35,823
Construction In Progress	-	8,600	5,517	3,715	3,621	2,254

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