Grupo Simec SAB de CV SIM

MaterialsMetals & MiningMexico

Last close 25.65 USD on Nov 1, 2026, −13.5% year to date

Quant rating

Quant rating D Rank 192 of 220 in Materials

Growth D 189 of 220
Valuation D 156 of 220
Quality C 115 of 220
Revisions D 193 of 220
Momentum C 135 of 220

Historical valuation

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

Key data

Market cap: 4.2B
Enterprise value: 2.6B
52-week range: 24.70 – 34.35
3-year range: 22.15 – 34.35
Dividend yield: –
Beta (5 years): 0.22
Shares outstanding: 498M
Next earnings: –

About the company

Grupo Simec SAB de CV is a Mexico-based company primarily engaged in producing, processing and distributing special steels and structural steel sections. The Company identifies its operating segments by regions: Mexico and the United States of America. The Firm's Mexican segment includes the Mexicali, Guadalajara, Tlaxcala and San Luis Potosi plants. The United States segment includes seven plants, six of which are located in the states of Ohio, Indiana and New York. The segments manufacture and sell steel products destined mainly for the construction and automotive industries. The Company, through its subsidiaries, is also present in Brazil and the Netherlands.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2019	2018	2017	2016	2015	5Y avg
Revenue (mil)	1,682	1,617	2,427	2,781	2,715	–
Revenue growth	4.1%	−33.4%	−12.7%	2.4%	50.0%	−1.4%
EPS (basic, normalized)	–	1.19	0.39	1.13	0.30	–
EPS growth	–	205.6%	−65.5%	275.8%	–	–
Gross margin	25.2%	22.7%	24.4%	26.7%	28.1%	25.4%
Net margin	5.1%	31.2%	10.4%	14.2%	17.0%	15.6%
ROE	2.6%	19.2%	8.8%	17.1%	24.8%	14.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,629
Current ratio	5.79x
Long-term debt (mil)	0
Net debt (mil)	−1,627
Total equity (mil)	3,486
Net debt / equity	−0.47x
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
2019 actual	1,682	+4.1%	1.6x	–	–	–	–	–	–

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
2020	–	–	–	–	–	–	–	–
2021	–	–	–	–	–	–	–	–
2022	–	–	–	–	–	–	–	–

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	8,500	7,595
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	5.88	4.11	8.37	3.58	2.55	2.28	4.92	–	–	–
EPS mean	4.96	6.08	5.22	5.46	2.72	4.15	4.77	–	–	–
Surprise	+18.5%	−32.4%	+60.3%	−34.5%	−6.3%	−45.1%	+3.1%	–	–	–

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
SIM Grupo Simec SAB de CV	4.2B	–	5.1%	1.17x	–	–	–	–
5411 JFE Holdings, Inc.	7.2B	5.43x	1.5%	0.43x	8.6x	8.4x	7.1x	6.8x
RIO Rio Tinto plc	140.8B	–	17.3%	2.03x	10.0x	10.0x	5.7x	5.4x
FMG Fortescue Ltd	30.9B	–	16.9%	1.52x	17.1x	14.4x	5.5x	5.1x
MT ArcelorMittal SA	46.4B	1.76x	5.1%	0.83x	16.0x	8.5x	7.2x	5.5x
CMC Commercial Metals Co	7.0B	1.91x	7.0%	1.50x	9.0x	9.0x	6.3x	6.1x
Mean		3.03x	8.8%	1.25x	12.1x	10.1x	6.4x	5.8x
Median		1.91x	6.1%	1.34x	10.0x	9.0x	6.3x	5.5x

Technical analysis

1M−11.5%
3M−10.0%
1Y−7.7%
3Y−16.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Grupo Simec SAB de CV, fiscal years, most recent first
	2019	2018	2017	2016	2015	2014
Total revenue	1,682	1,617	2,427	2,781	2,715	1,810
Cost of revenue	1,258	1,250	1,834	2,038	1,951	1,471
Gross profit	424	366	592	743	764	338
Selling, general & administrative expenses	156	129	138	126	99.7	91.3
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	–	–
Other operating expenses	−29.5	−17.6	5.9	−3.7	3.8	−27.9
Operating income	298	255	448	621	661	275
Net interest income (expense)	−139	344	−97.5	−15.9	14.8	2.6
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	3.3	3.8	−40.0	0	0
Net income before taxes	159	602	355	565	675	277
Provision for taxes	74.4	99.0	103	169	214	67.2
Minority interest	0	0.4	0.5	0.1	−0.1	0.1
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	85.2	504	253	396	461	210
Extraordinary items	–	–	–	–	–	–
Net income	85.2	504	253	396	461	210
EBIT, normalized	298	255	448	621	661	275
EBITDA, normalized	358	306	509	678	718	338
Basic EPS, normalized	–	1.19	0.39	1.13	0.30	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Grupo Simec SAB de CV, fiscal years, most recent first
	2019	2018	2017	2016	2015	2014
Assets
Cash & short-term investments	1,585	1,401	1,391	1,106	739	366
Receivables	449	274	420	396	361	554
Total inventory	511	536	602	657	573	470
Prepaid expenses	–	21.3	49.1	76.0	73.5	–
Other current assets	0	0	0	0	0	0
Total current assets	2,546	2,232	2,462	2,235	1,746	1,391
Property, plant & equipment	1,178	943	1,059	862	782	803
Goodwill	101	87.1	107	93.2	88.6	91.3
Intangibles	26.3	21.5	28.5	26.2	24.3	25.7
Long-term investments	35.6	64.4	86.2	90.3	–	–
Note receivable	–	91.7	107	90.0	83.9	–
Other long-term assets	84.0	81.1	89.7	76.5	74.6	46.2
Total assets	3,970	3,521	3,939	3,473	2,799	2,357
Liabilities
Accounts payable	364	200	439	483	337	270
Payable/accrued	–	–	–	–	–	–
Accrued expenses	12.8	–	–	–	–	8.1
Short-term debt	–	0.3	0.3	0.3	15.3	–
Current portion of long-term debt	0.3	–	–	–	0.3	0.3
Other current liabilities	86.9	289	326	295	179	163
Total current liabilities	464	490	765	778	532	442
Long-term debt	–	0	0	0	0	–
Minority interest	1.1	1.4	1.5	1.9	2.0	1.3
Other liabilities	208	185	237	230	219	193
Total liabilities	673	677	1,003	1,010	753	636
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	157	136	167	145	138	143
Additional paid-in capital	254	220	270	235	223	230
Retained earnings (accumulated deficit)	3,022	2,661	2,656	2,097	1,622	1,116
Treasury stock	−255	–	–	–	–	−106
Other equity	119	−172	−157	−14.7	63.0	338
Total equity	3,297	2,844	2,936	2,463	2,046	1,721
Total liabilities & shareholders' equity	3,970	3,521	3,939	3,473	2,799	2,357

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Grupo Simec SAB de CV, fiscal years, most recent first
	2019	2018	2017	2016	2015	2014
Operating activities
Net income	85.1	503	252	395	461	210
Depreciation, depletion & amortization	60.1	51.2	61.1	57.4	57.4	63.8
Deferred taxes	–	–	–	–	–	–
Non-cash items	14.3	17.7	53.9	190	215	64.6
Changes in working capital	−125	−306	−116	−191	−324	−282
Cash from operations	34.5	266	251	451	409	56.8
Investing activities
Capital expenditures	−165	−102	−147	−87.1	−52.1	−45.0
Other investing cash flows	110	88.8	71.3	−125	2.8	6.2
Cash from investing	−55.8	−13.3	−75.7	−212	−49.3	−38.9
Financing activities
Financing cash flow items	−6.2	−0.2	−9.1	−2.9	−4.3	−2.7
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−6.4	−6.1	−5.3	118	−3.6	−2.1
Cash from financing	−12.6	−6.3	−14.3	115	−7.9	−4.8
Foreign exchange effects	−0.2	20.8	−41.3	−24.2	9.1	−21.8
Net change in cash	−34.1	268	120	329	361	−8.7
Free cash flow	−131	164	104	364	357	11.7

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 1, 2026 after market close.