Gerdau SA ADR (GGB) is slightly undervalued and Nucor Corp (NUE) is overvalued.
Against our estimates of intrinsic value, GGB trades at the wider discount: a margin of safety of +19%, against -84% for NUE.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.6% (average of 3 methods) values the shares at $6.18; the price of $5.02 is 19% below that value, and 74% of that value comes from beyond year five.
Leak Score 49/100 on 3 of 12 signals
Discounting its cash flows at 12.1% (average of 3 methods) values the shares at $133.22; the price of $245.66 is 84% above that value, and 66% of that value comes from beyond year five.
Leak Score 41/100 on 9 of 12 signals
| Metric | GGB | NUE |
|---|---|---|
| Verdict | Slightly undervalued | Overvalued |
| Price | $5.02 | $245.66 |
| Intrinsic value | $6.18 | $133.22 |
| Margin of safety | +19% | -84% |
| Leak Score | 49/100 (3/12) | 41/100 (9/12) |
| Market cap | $6.2B | $55.7B |
| Revenue growth, 5 years | 8.0% | 10.0% |
| Operating margin | 7.4% | 11.5% |
| Net margin | 3.3% | 8.0% |
| Return on equity | 4.3% | 13.5% |
| Debt to equity | 0.28 | 0.32 |
| P/E | 22.9x | 19.6x |
| Forward P/E | 8.7x | 12.6x |
| P/B | 0.9x | 2.5x |
| Dividend yield | 4.1% | 0.9% |