BlueScope Steel Limited BLSFY

MaterialsMetals & MiningAustralia

Last close 119.80 USD on Nov 2, 2026, +68.1% year to date

Quant rating

Quant rating B Rank 42 of 220 in Materials

Growth B 55 of 220
Valuation D 155 of 220
Quality C 136 of 220
Revisions A 6 of 220
Momentum A 13 of 220

Wall Street consensus Buy (2.08)Average target 26.04 USD −78.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 10.3B
Enterprise value: 11.1B
52-week range: 67.36 – 119.80
3-year range: 56.13 – 119.80
Dividend yield: 5.74%
Beta (5 years): 0.91
Shares outstanding: 438M
Next earnings: Feb 14, 2027

About the company

BlueScope Steel Limited is a steel production company. The Company is focused on providing steel materials, products, systems and technologies across North America, Australia, New Zealand, Pacific Islands and throughout Asia. It is engaged in manufacturing of coil coating and coated steel products. Its segments include Australian Steel Products (ASP), North Star BlueScope Steel, Coated Products Asia, Buildings and Coated Products North America, and New Zealand & Pacific Islands. ASP segment produces and markets coated and painted flat steel products for Australian building and construction customers as well as offering commodity flat steel products. Coated Products Asia segment offers building products for China, consisting of metal coating, painting, Lysaght operations and engineered building solutions. It manufactures and markets a range of branded products that include pre-painted COLORBOND steel, zinc/aluminum alloy coated ZINCALUME steel and the LYSAGHT range of building products.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	11,549	10,743	11,409	12,160	13,132	–
Revenue growth	7.5%	−5.8%	−6.2%	−7.4%	35.7%	3.6%
EPS (basic, normalized)	1.38	0.62	1.29	1.51	3.83	–
EPS growth	123.2%	−52.2%	−14.1%	−60.6%	–	–
Gross margin	24.2%	21.9%	24.8%	23.6%	32.2%	25.4%
Net margin	4.8%	0.5%	4.7%	5.5%	14.8%	6.0%
ROE	7.6%	0.7%	7.6%	9.9%	32.2%	11.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	11,549	+7.5%	1.0x	1,397	+46.4%	7.9x	1.38	+123.2%	86.8x
2027	12,849	+11.3%	0.9x	1,999	+43.2%	5.5x	2.27	+64.6%	52.8x
2028	12,787	−0.5%	0.9x	1,829	−8.5%	6.1x	1.90	−16.3%	63.1x
2029	13,074	+2.2%	0.8x	1,760	−3.8%	6.3x	1.84	−3.4%	65.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	12,849	+3.6%	+5.3%	+7.8%	2.27	+21.2%	+36.5%	+60.9%
2028	12,787	+2.5%	+1.6%	+1.4%	1.90	+10.6%	+10.6%	+14.6%
2029	13,074	+1.6%	−1.7%	−4.4%	1.84	+3.9%	−0.7%	+1.1%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
BLSFY BlueScope Steel Limited	10.3B	–	4.8%	1.42x	52.8x	63.1x	5.5x	6.1x
AA Alcoa Corp	10.5B	0.21x	9.0%	1.28x	5.9x	7.4x	3.7x	3.8x
TX Ternium SA	10.2B	3.09x	2.7%	0.83x	8.3x	6.8x	5.4x	4.8x
SSAAY SSAB AB (publ)	10.0B	−0.76x	5.1%	1.32x	6.5x	4.6x	6.4x	4.9x
HMY Harmony Gold Mining Company Limited	9.8B	–	29.6%	2.10x	5.1x	4.0x	3.2x	2.6x
HBM Hudbay Minerals Inc.	9.7B	0.60x	25.7%	2.01x	15.0x	10.9x	6.5x	5.1x
Mean		0.79x	12.8%	1.49x	15.6x	16.1x	5.1x	4.5x
Median		0.41x	7.1%	1.37x	7.4x	7.1x	5.5x	4.8x

Technical analysis

1M+11.9%
3M+17.2%
1Y+78.9%
3Y+124.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, BlueScope Steel Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	11,549	10,743	11,409	12,160	13,132	9,674
Cost of revenue	8,758	8,392	8,575	9,285	8,900	6,907
Gross profit	2,790	2,351	2,834	2,875	4,233	2,767
Selling, general & administrative expenses	1,267	1,184	1,216	1,148	1,069	1,002
Research & development	22.3	19.9	20.7	19.3	18.4	18.4
Depreciation/amortization	479	470	462	439	379	366
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−41.0	289	−0.7	33.1	−24.4	1.2
Other operating expenses	309	266	330	321	228	136
Operating income	754	121	806	914	2,562	1,245
Net interest income (expense)	−55.1	−28.2	−25.8	−12.9	−15.8	−21.0
Gain (loss) on sale of assets	34.7	–	–	0	2.9	7.5
Other non-operating income (expense)	51.9	70.7	65.1	61.7	64.0	32.8
Net income before taxes	786	164	845	963	2,613	1,264
Provision for taxes	164	45.8	213	234	557	291
Minority interest	−69.7	−69.2	−95.0	−59.5	−119	−85.6
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	552	48.8	536	669	1,937	887
Extraordinary items	3.0	6.3	0.7	3.9	2.1	7.5
Net income	555	55.1	537	673	1,939	895
EBIT, normalized	793	410	844	1,000	2,555	1,235
EBITDA, normalized	1,272	880	1,306	1,439	2,934	1,601
Basic EPS, normalized	1.38	0.62	1.29	1.51	3.83	–

Balance sheet in millions of USD, fiscal years

Balance sheet, BlueScope Steel Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	807	564	724	993	1,161	1,471
Receivables	1,312	1,237	1,135	1,272	1,502	1,230
Total inventory	2,024	2,019	2,124	2,094	2,539	1,738
Prepaid expenses	–	–	–	–	–	–
Other current assets	89.7	77.3	81.7	146	225	164
Total current assets	4,233	3,898	4,065	4,505	5,427	4,603
Property, plant & equipment	5,591	4,863	4,326	4,019	3,923	3,659
Goodwill	1,027	1,029	1,260	1,266	1,242	887
Intangibles	339	374	570	549	554	350
Long-term investments	5.5	83.4	98.0	112	118	103
Note receivable	22.9	23.3	23.8	25.2	26.7	31.5
Other long-term assets	128	114	111	146	173	226
Total assets	11,346	10,384	10,452	10,622	11,463	9,859
Liabilities
Accounts payable	1,148	1,045	1,028	1,165	1,485	1,301
Payable/accrued	–	–	–	–	–	–
Accrued expenses	338	307	362	387	484	358
Short-term debt	0	0.1	1.5	0.7	5.2	0.6
Current portion of long-term debt	126	95.7	126	114	487	126
Other current liabilities	594	545	541	649	813	674
Total current liabilities	2,207	1,993	2,059	2,316	3,273	2,460
Long-term debt	1,096	487	354	409	416	746
Minority interest	406	399	376	375	459	398
Other liabilities	503	486	516	544	564	534
Total liabilities	4,213	3,365	3,305	3,645	4,712	4,138
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,620	1,551	1,593	1,807	2,062	2,737
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	5,243	5,013	5,193	4,804	4,420	2,931
Treasury stock	−2.7	−0.8	−13.9	−25.0	−20.5	−0.7
Other equity	274	455	375	392	289	52.9
Total equity	7,134	7,019	7,148	6,978	6,751	5,721
Total liabilities & shareholders' equity	11,346	10,384	10,452	10,622	11,463	9,859

Cash flow statement in millions of USD, fiscal years

Cash flow statement, BlueScope Steel Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	88.8	98.9	91.6	61.5	31.0	28.5
Cash from operations	1,194	930	940	1,434	1,706	1,243
Investing activities
Capital expenditures	−1,028	−812	−651	−539	−527	−570
Other investing cash flows	174	2.3	6.2	−114	−687	2.2
Cash from investing	−854	−809	−645	−653	−1,214	−568
Financing activities
Financing cash flow items	−63.1	−71.1	−84.1	−135	−45.1	−20.5
Cash dividends paid	−591	−173	−150	−155	−237	−52.9
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	541	−34.5	−332	−616	−443	−148
Cash from financing	−113	−279	−566	−907	−726	−222
Foreign exchange effects	−13.0	9.7	0.5	1.7	36.8	−32.5
Net change in cash	214	−149	−270	−124	−197	421
Free cash flow	166	118	289	895	1,179	673

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.