Gerdau S.A. (GGB) Income Statement
GGB 2025 at a glance
Fiscal year ended December 31, 2025 · Brazilian reaisGGB revenue and net income
Where GGB's revenue goes
2025Each bar shows an amount and its share of revenue. GGB kept 2.0% of revenue as net income.
GGB profit margins
GGB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.2% | −5.4% | +9.8% | +4.8% |
| Gross profit | −13.4% | −24.8% | +6.1% | +6.4% |
| Operating income | −12.6% | −30.4% | −0.9% | — |
| Net income | −69.6% | −50.5% | −10.1% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GGB income statement in Brazilian reais
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | R$69.86B | R$67.03B | R$68.92B | R$82.41B | R$78.35B | R$43.81B | R$39.64B | R$46.16B | R$36.92B | R$37.65B |
| Cost of revenue | R$61.89B | R$57.82B | R$57.58B | R$63.66B | R$57.53B | R$37.88B | R$35.44B | R$40.01B | R$33.31B | R$34.19B |
| Gross profit | R$7.97B | R$9.20B | R$11.33B | R$18.75B | R$20.82B | R$5.93B | R$4.20B | R$6.15B | R$3.60B | R$3.46B |
| Research & development | — | — | — | R$154.6M | R$177.7M | R$188.1M | R$157.3M | R$171.2M | R$149.2M | R$149.9M |
| Sales, general & admin | R$2.12B | R$2.17B | R$1.49B | R$1.45B | R$1.39B | R$1.53B | R$954.1M | R$1.65B | R$1.65B | R$2.24B |
| Total operating expenses | R$2.36B | R$2.79B | R$1.71B | R$2.15B | R$797.5M | R$5.93B | R$1.02B | R$2.10B | R$2.50B | R$5.10B |
| Operating income | R$5.61B | R$6.41B | R$9.63B | R$16.60B | R$20.02B | R$5.86B | R$3.18B | R$4.05B | R$1.10B | −R$1.64B |
| Interest income | R$404.1M | R$372.7M | R$306.6M | R$1.89B | R$1.52B | R$194.1M | R$1.51B | R$1.67B | R$1.51B | R$1.09B |
| Interest expense | R$242.9M | R$796.9M | R$168.2M | R$186.8M | R$196.4M | R$198.2M | R$237.8M | R$1.58B | R$1.73B | R$2.01B |
| Income before taxes | R$2.52B | R$5.46B | R$9.35B | R$15.86B | R$20.27B | R$3.50B | R$1.67B | R$2.16B | −R$43.3M | −R$2.58B |
| Income taxes | R$1.11B | R$864.7M | R$1.81B | R$4.38B | R$4.71B | R$1.11B | R$457.8M | −R$169.0M | R$295.4M | R$304.3M |
| Net income | R$1.39B | R$4.57B | R$7.50B | R$11.43B | R$15.49B | R$2.37B | R$1.20B | R$2.30B | −R$359.4M | −R$2.89B |
| EBITDA | R$7.57B | R$9.39B | R$13.23B | R$19.69B | R$23.99B | R$7.02B | R$4.69B | R$5.23B | R$3.37B | R$1.50B |
| Gross margin | 11.4% | 13.7% | 16.4% | 22.8% | 26.6% | 13.5% | 10.6% | 13.3% | 9.8% | 9.2% |
| Operating margin | 8.0% | 9.6% | 14.0% | 20.1% | 25.6% | 13.4% | 8.0% | 8.8% | 3.0% | −4.3% |
| Net margin | 2.0% | 6.8% | 10.9% | 13.9% | 19.8% | 5.4% | 3.0% | 5.0% | −1.0% | −7.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | R$17.87B | R$16.72B | R$16.97B | R$17.98B | R$16.82B | R$17.38B | R$16.62B | R$16.21B | R$14.72B | R$17.06B | R$18.27B | R$18.87B |
| Cost of revenue | R$15.04B | R$14.42B | R$15.13B | R$15.84B | R$14.80B | R$14.80B | R$14.43B | R$13.79B | R$13.08B | R$14.27B | R$14.99B | R$15.24B |
| Gross profit | R$2.83B | R$2.29B | R$1.85B | R$2.14B | R$2.02B | R$2.58B | R$2.19B | R$2.42B | R$1.63B | R$2.79B | R$3.28B | R$3.63B |
| Sales, general & admin | R$517.3M | R$521.9M | R$508.6M | R$512.4M | R$586.4M | R$354.5M | R$530.7M | R$500.9M | R$384.6M | R$354.8M | R$388.2M | R$363.8M |
| Total operating expenses | R$534.1M | R$542.0M | R$645.9M | R$572.1M | R$1.11B | R$455.1M | R$571.9M | R$534.8M | R$540.8M | R$408.5M | R$393.4M | −R$663.8M |
| Operating income | R$2.30B | R$1.75B | R$1.20B | R$1.57B | R$915.0M | R$2.12B | R$1.62B | R$1.88B | R$1.09B | R$2.38B | R$2.88B | R$4.29B |
| Interest income | R$65.6M | R$68.4M | R$126.6M | R$106.2M | R$110.2M | R$89.7M | R$109.7M | R$63.1M | R$115.4M | R$323.7M | R$422.7M | R$62.8M |
| Interest expense | R$269.1M | R$282.3M | R$391.6M | R$358.4M | R$37.7M | R$38.2M | R$34.7M | R$37.3M | R$42.2M | R$42.8M | R$44.1M | R$39.3M |
| Income before taxes | R$2.02B | R$1.51B | −R$1.14B | R$1.44B | R$365.7M | R$1.80B | R$1.02B | R$2.28B | R$735.7M | R$1.91B | R$2.46B | R$4.24B |
| Income taxes | R$558.6M | R$500.1M | R$153.6M | R$346.1M | R$42.7M | R$442.4M | R$155.8M | R$223.7M | R$148.9M | R$314.3M | R$319.4M | R$1.03B |
| Net income | R$1.45B | R$1.00B | −R$1.30B | R$1.08B | R$316.0M | R$1.35B | R$859.1M | R$2.04B | R$577.9M | R$1.58B | R$2.14B | R$3.21B |
| EBITDA | R$3.21B | R$2.70B | R$220.9M | R$2.73B | R$1.42B | R$2.81B | R$1.97B | R$3.19B | R$1.74B | R$2.90B | R$3.43B | R$5.08B |
| Gross margin | 15.8% | 13.7% | 10.9% | 11.9% | 12.0% | 14.8% | 13.2% | 14.9% | 11.1% | 16.4% | 17.9% | 19.2% |
| Operating margin | 12.8% | 10.5% | 7.1% | 8.7% | 5.4% | 12.2% | 9.7% | 11.6% | 7.4% | 14.0% | 15.8% | 22.7% |
| Net margin | 8.1% | 6.0% | −7.6% | 6.0% | 1.9% | 7.8% | 5.2% | 12.6% | 3.9% | 9.3% | 11.7% | 17.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in Brazilian reais as reported in GGB's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GGB financial results
In fiscal year 2025 (ended December 31, 2025), Gerdau reported revenue of R$69.9 billion, up 4.2% from the year before. It had net income of R$1.4 billion (down 69.6%), a net profit margin of 2.0%. Over five years revenue grew at an average rate of 9.8% a year. Figures are in Brazilian reais, the currency of its financial statements.
See the GGB stock overview for the latest quote and news, or the GGB chart for price history and technical indicators.
GGB income statement FAQ
What is Gerdau's annual revenue?
Gerdau reported total revenue of R$69.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 4.2% from R$67.0 billion the previous year.
Is Gerdau profitable?
Yes. Gerdau reported net income of R$1.4 billion in fiscal 2025, a net profit margin of 2.0%; its operating margin was 8.0%.
What is Gerdau's gross margin?
Gerdau's gross margin was 11.4% in fiscal 2025: for every $100 of revenue, Gerdau kept $11 after the direct cost of its products and services.
How fast is Gerdau growing?
Revenue grew 9.8% a year on average over the last five fiscal years, from R$43.8 billion to R$69.9 billion.
When will Gerdau report its next earnings?
Gerdau is expected to report results for the quarter ending September 30, 2026 on October 26, 2026 after the market closes.
When does Gerdau's fiscal year end?
Gerdau's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.