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General information

Country: MEXICO

Sector: Steel

Grupo Simec, S.A.B. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, and Canada. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold finished bars, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products. Its SBQ steel products are used across a range of engineered end-user applications, including axles, hubs, and crankshafts for automobiles and light trucks, machine tools, and off-highway equipment; and structural steel products are used in the non-residential construction market and other construction applications. The company also exports its steel products to Central and South America, and Europe. The company was founded in 1969 and is headquartered in Guadalajara, Mexico. Grupo Simec, S.A.B. de C.V. is a subsidiary of Industrias CH, S.A.B. de C.V.
Website: gsimec.com.mx



Growth: Pretty weak revenue growth rate 0.9%, there is slowdown compared to average historical growth rates 22.6%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is positive, +26.3%. On average the margin is improving unsteadily. Gross margin is normal, +30.7%. In the last quarter the company beat the estimated EPS, +4.2%. The company was ahead of estimated EPS in 25% of quarters (showing a gain of -$0.05 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 0.0%. Free cash flow yield 7.1% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 137.7% higher than minimum and 10.8% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 3.4x by EV / Sales multiple , the company can be >100% undervalued

Key Financials (Download financials)

Ticker: SIM
Share price, USD:  (0.0%)33
year average price 32.52  


year start price 34.73 2023-04-21

max close price 37.00 2023-08-09

min close price 28.40 2023-11-01

current price 33.00 2024-04-19
Common stocks: 165 904 683

Dividend Yield:  0.0%
FCF Yield LTM: 7.1%
EV / LTM EBITDA: 6.1x
EV / EBITDA annualized: 5.0x
Last revenue growth (y/y):  0.9%
Last growth of EBITDA (y/y):  17.9%
Historical revenue growth:  22.6%
Historical growth of EBITDA:  66.9%
EV / Sales: 1.6x
Margin (EBITDA LTM / Revenue): 26.3%
Fundamental value created in LTM:
Market Cap ($m): 5 475
Net Debt ($m): -896
EV (Enterprise Value): 4 579
Price to Book: 2.2x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol SIM SIM SIM SIM SIM SIM
reportedCurrency MXN MXN MXN MXN MXN MXN
cik 887 153 887 153 887 153 887 153 887 153 887 153
fillingDate 2024-02-28 2023-10-30 2023-07-21 2023-04-21 2022-12-31 2022-09-30
acceptedDate 2024-02-27 19:24:54 2023-10-30 11:33:10 2023-07-20 20:08:04 2023-04-20 18:11:07 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
revenue 8 815M 9 454M 10 122M 12 825M 10 147M 13 433M
costOfRevenue 6 283M 7 178M 7 510M 9 618M 7 441M 10 271M
grossProfit 2 533M 2 277M 2 612M 3 207M 2 706M 3 162M
grossProfitRatio 0.287 0.241 0.258 0.250 0.267 0.235
researchAndDevelopmentExpenses 0 0 0 0 0 0
generalAndAdministrativeExpenses 0 485M 515M 586M 732M 595M
sellingAndMarketingExpenses 0 53M 0 0 0 0
sellingGeneralAndAdministrativeExpenses 761M 485M 515M 586M 732M 595M
otherExpenses 0 0 0 -58M -65M -5M
operatingExpenses 761M 461M 430M 529M 667M 590M
costAndExpenses 7 044M 7 639M 7 939M 10 147M 8 108M 10 861M
interestIncome 198M 126M 190M 215M 93M 123M
interestExpense 17M 98M 15M 25M 192M 19M
depreciationAndAmortization 205M 264M 278M 495M 785M 469M
ebitda 1 976M 2 204M 2 694M 3 174M 2 824M 3 041M
ebitdaratio 0.224 0.233 0.266 0.247 0.278 0.226
operatingIncome 1 772M 1 815M 2 182M 2 678M 2 039M 2 572M
operatingIncomeRatio 0.201 0.192 0.216 0.209 0.201 0.191
totalOtherIncomeExpensesNet -645M 255M -703M -1 116M -1 026M 164M
incomeBeforeTax 1 127M 2 098M 1 698M 1 562M 1 014M 2 737M
incomeBeforeTaxRatio 0.128 0.222 0.168 0.122 0.100 0.204
incomeTaxExpense -236M 298M 712M 531M 1 349M 798M
netIncome 1 365M 1 802M 987M 1 033M -335M 1 940M
netIncomeRatio 0.155 0.191 0.097 0.081 -0.033 0.144
eps 2.740 3.900 5.940 6.210 -2.020 11.700
epsdiluted 0 3.900 5.940 6.210 -2.020 11.700
weightedAverageShsOut 0 462M 166M 166M 166M 166M
weightedAverageShsOutDil 0 462M 166M 166M 166M 166M
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Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol SIM SIM SIM SIM SIM SIM
reportedCurrency MXN MXN MXN MXN MXN MXN
cik 887 153 887 153 887 153 887 153 887 153 887 153
fillingDate 2024-02-28 2023-10-30 2023-07-21 2023-04-21 2022-12-31 2022-09-30
acceptedDate 2024-02-27 19:24:54 2023-10-30 11:33:10 2023-07-20 20:08:04 2023-04-20 18:11:07 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 23 583M 23 509M 20 861M 21 234M 21 546M 21 621M
shortTermInvestments 0 0 0 0 0 0
cashAndShortTermInvestments 23 583M 23 509M 20 861M 21 234M 21 546M 21 621M
netReceivables 8 977M 9 792M 9 855M 10 866M 9 460M 9 726M
inventory 12 182M 11 947M 12 833M 11 524M 12 791M 13 147M
otherCurrentAssets 88M 1 133M 960M 1 563M 1 480M 1 809M
totalCurrentAssets 44 830M 46 382M 44 509M 45 186M 45 277M 46 302M
propertyPlantEquipmentNet 18 114M 17 248M 17 074M 17 221M 16 783M 16 302M
goodwill 1 814M 1 814M 1 814M 1 814M 1 814M 0
intangibleAssets 0 499M 515M 520M 511M 0
goodwillAndIntangibleAssets 1 814M 2 313M 2 329M 2 335M 2 325M 2 325M
longTermInvestments 1 462M 1 385M 1 543M 1 747M 0 0
taxAssets 497M 0 0 0 0 0
otherNonCurrentAssets 1 305M 1 351M 1 319M 1 381M 1 489M 1 508M
totalNonCurrentAssets 23 192M 22 297M 22 265M 22 683M 20 597M 20 134M
otherAssets 1.000 0 0 0 1 759M 0
totalAssets 68 022M 68 678M 66 774M 67 869M 67 633M 66 437M
accountPayables 8 364M 8 011M 7 982M 8 794M 9 410M 8 476M
shortTermDebt 5M 5M 5M 5M 6M 6M
taxPayables 2 005M 2 316M 2 136M 2 217M 2 347M 2 378M
deferredRevenue 2 005M 2 330M 2 160M 0 0 0
otherCurrentLiabilities 3 241M 3 445M 3 391M 5 929M 5 737M 5 619M
totalCurrentLiabilities 13 615M 13 792M 13 538M 14 729M 15 154M 14 100M
longTermDebt 0 0 0 0 0 0
deferredRevenueNonCurrent 0 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 4 011M 4 177M 4 141M 4 199M 4 223M 4 160M
otherNonCurrentLiabilities 300M 254M 247M 257M 262M -3 944M
totalNonCurrentLiabilities 4 311M 4 430M 4 388M 4 456M 4 485M 4 538M
otherLiabilities 1.000 0 0 0 0 0
capitalLeaseObligations 0 0 0 0 0 0
totalLiabilities 17 926M 18 222M 17 926M 19 184M 19 639M 18 638M
preferredStock 0 0 0 0 0 0
commonStock 2 832M 2 832M 2 832M 2 832M 2 832M 2 832M
retainedEarnings 43 288M 48 923M 47 121M 46 135M 44 038M 42 595M
accumulatedOtherComprehensiveIncomeLoss 3 728M -1 568M -1 405M -617M 55M 0
othertotalStockholdersEquity 220M 239M 268M 300M 1 032M 2 331M
totalStockholdersEquity 50 068M 50 426M 48 817M 48 650M 47 957M 47 758M
totalEquity 50 095M 50 456M 48 848M 48 650M 47 957M 47 758M
totalLiabilitiesAndStockholdersEquity 68 022M 68 678M 66 774M 67 869M 67 633M 66 396M
minorityInterest 27M 30M 31M 34M 38M 0
totalLiabilitiesAndTotalEquity 68 022M 68 678M 66 774M 67 869M 67 633M 66 396M
totalInvestments 1 462M 1 385M 1 543M 1 747M 0 0
totalDebt 5M 5M 5M 5M 6M 6M
netDebt -23 578M -23 504M -20 856M -21 228M -21 541M -21 615M
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Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol SIM SIM SIM SIM SIM SIM
reportedCurrency MXN MXN MXN MXN MXN MXN
cik 887 153 887 153 887 153 887 153 887 153 887 153
fillingDate 2024-02-28 2023-10-30 2023-07-21 2023-04-21 2022-12-31 2022-09-30
acceptedDate 2024-02-27 19:24:54 2023-10-30 11:33:10 2023-07-20 20:08:04 2023-04-20 18:11:07 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
netIncome 1 365M 2 098M 1 698M 1 562M 1 014M 2 737M
depreciationAndAmortization 205M 264M 278M 281M 283M 285M
deferredIncomeTax -136M -8M 674 000 0 0 0
stockBasedCompensation 176M 8M -674 000 0 0 0
changeInWorkingCapital 178M 403M -1 706M -1 292M -1 789M 2 406M
accountsReceivables 167M -292M 1 515M -1 528M 1 180M -540M
inventory 655M 963M -1 765M 973M -26M 824M
accountsPayables -236M -140M -629M -483M 1 176M 17M
otherWorkingCapital -407M -129M -827M -254M -4 118M 2 105M
otherNonCashItems -242M -24M -175M -190M 530M -135M
netCashProvidedByOperatingActivities 1 546M 2 740M 96M 361M 38M 5 293M
investmentsInPropertyPlantAndEquipment -1 117M -394M -266M -1 088M -1 104M -153M
acquisitionsNet 0 0 0 0 0 0
purchasesOfInvestments 0 0 0 0 0 0
salesMaturitiesOfInvestments 0 0 0 0 0 0
otherInvestingActivites -104M 288M 307M 595M -2 626M 193M
netCashUsedForInvestingActivites -1 221M -107M 41M -493M -3 730M 40M
debtRepayment 0 0 0 0 0 0
commonStockIssued 0 0 0 0 90M 0
commonStockRepurchased -20M -29M -32M -8M -22M -30M
dividendsPaid 0 0 0 0 0 0
otherFinancingActivites 0 -98M -15M -25M 3 898M -1 609M
netCashUsedProvidedByFinancingActivities -20M -127M -47M -33M 3 967M -1 639M
effectOfForexChangesOnCash -232M 142M -462M -148M -349M 20M
netChangeInCash 73M 2 649M -373M -313M -74M 3 714M
cashAtEndOfPeriod 23 583M 23 509M 20 861M 21 234M 21 546M 21 621M
cashAtBeginningOfPeriod 23 509M 20 861M 21 234M 21 546M 21 621M 17 907M
operatingCashFlow 1 546M 2 740M 96M 361M 38M 5 293M
capitalExpenditure -1 117M -394M -266M -1 088M -1 104M -153M
freeCashFlow 429M 2 346M -170M -726M -1 066M 5 140M
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Earning call transcript

Press-releases

Show financial reports only

2024-02-27 17:31 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE TWELVE-MONTH PERIOD ENDED DECEMBER 31, 2023 AUDITED
2023-11-21 21:34 ET
Grupo Simec, S.A.B. de C.V. (NYSE: SIM) SIGNIFICANT EVENT (UNUSUAL MOVEMENTS)
2023-10-25 22:34 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST NINE MONTHS OF 2023
2023-08-10 22:43 ET
Grupo Simec to Idle Steelmaking Operations Indefinitely at Its Republic Steel Mills in Canton, Ohio and Lackawanna, N.Y.
2023-07-20 21:26 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST SIX MONTHS OF 2023
2023-04-27 22:24 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST QUARTER, OF 2023, ENDED MARCH 31, 2023
2023-04-20 20:25 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE TWELVE-MONTH PERIOD ENDED DECEMBER 31, 2022 AUDITED.
2023-03-17 20:27 ET
Grupo Simec Files a Form 20-F/A for the 2021 Financial Year
2023-02-13 16:38 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE TWELVE-MONTH PERIOD ENDED DECEMBER 31, 2022.
2022-10-27 16:53 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST NINE MONTHS OF 2022
2022-09-28 15:13 ET
GRUPO SIMEC, S.A.B.de C.V. (NYSE: SIM) PROTECT YOURSELF FROM FRAUD
2022-07-20 19:39 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST SIX MONTHS OF 2022
2022-04-28 22:19 ET
Grupo Simec Announces Results of Operations for the Twelve-Month Period Ended December 31, 2021 Audited
2022-04-28 19:59 ET
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST QUARTER, OF 2022, ENDED MARCH 31, 2022
2022-02-16 16:31 ET
/C O R R E C T I O N -- Grupo Simec, S.A.B. de C.V./
2021-10-28 16:42 ET
Grupo Simec Announces Results Of Operations For The First Nine Months Of 2021
2021-07-13 21:47 ET
Grupo Simec Announces Results of Operations for the First Six Months of 2021
2021-07-08 19:43 ET
Grupo Simec, S.A.B.de C.V. (NYSE: SIM) Significant Event (Unusual Movements)
2021-06-14 19:03 ET
Grupo Simec, S.A.B. de C.V. (NYSE: SIM) significant event (unusual movements)
2021-05-25 14:00 ET
Grupo Simec Files Its Form 20-F For The 2020 Financial Year
2021-05-21 20:33 ET
Grupo Simec Receives Noncompliance Notice Regarding Late Form 20-F Filing From The NYSE
2021-05-11 19:02 ET
Grupo Simec, S.A.B.de C.V. (NYSE: SIM) Significant Event (Unusual Movements)
2021-05-10 22:03 ET
Grupo Simec, S.A.B. de C.V. (NYSE: SIM) Significant Event (Unusual Movements)
2021-05-03 18:51 ET
Grupo Simec Announces Results of Operations for the Twelve-Month Period Ended December 31, 2020 Audited
2021-04-30 14:25 ET
Grupo Simec Announces Results of Operations for the First Quarter, of 2021, Ended March 31, 2021
2021-02-09 15:30 ET
Grupo Simec Announces Results Of Operations For The Twelve-Month Period Ended December 31, 2020
2021-01-13 19:11 ET
Grupo Simec Files Amendment to its Form 20-F for the 2019 Financial Year
2020-10-28 16:03 ET
Grupo Simec Announces Results Of Operations For The First Nine Months Of 2020
2020-07-27 23:43 ET
Grupo Simec Announces Results of Operations for the First Six Months of 2020
2020-07-07 17:39 ET
Grupo Simec S.A.B.de C.V. (NYSE: SIM) Significant Event (Unusual Movements)
2019-10-28 17:58 ET
Grupo Simec Announces Results of Operations for the First Nine Months of 2019

SEC forms

Show financial reports only

SEC form 6
2024-02-27 19:24 ET
Grupo Simec published news for 2023 q4
SEC form 6
2024-02-27 19:24 ET
Grupo Simec published news for 2023 q4
SEC form 6
2023-10-30 11:33 ET
Grupo Simec published news for 2023 q3
SEC form 6
2023-07-20 20:08 ET
Grupo Simec published news for 2023 q2
SEC form 6
2023-05-01 17:59 ET
Grupo Simec published news for 2023 q1
SEC form 6
2023-05-01 16:58 ET
Grupo Simec published news for 2023 q1
SEC form 6
2023-04-28 15:36 ET
Grupo Simec published news for 2023 q1
SEC form 6
2023-04-20 18:11 ET
Grupo Simec published news for 2023 q1
SEC form 6
2023-03-17 16:34 ET
Grupo Simec published news for 2022 q4
SEC form 6
2023-03-17 16:05 ET
Grupo Simec published news for 2022 q4
SEC form 6
2023-02-13 17:04 ET
Grupo Simec published news for 2022 q4
SEC form 6
2022-10-28 10:18 ET
Grupo Simec published news for 2022 q3
SEC form 6
2022-07-20 18:53 ET
Grupo Simec published news for 2022 q2
SEC form 6
2022-07-11 09:27 ET
Grupo Simec published news for 2022 q2
SEC form 6
2022-05-18 17:07 ET
Grupo Simec published news for 2022 q1
SEC form 6
2022-04-29 16:16 ET
Grupo Simec published news for 2022 q1
SEC form 6
2022-04-29 09:18 ET
Grupo Simec published news for 2022 q1
SEC form 6
2022-04-28 20:49 ET
Grupo Simec published news for 2022 q1
SEC form 6
2022-02-16 18:21 ET
Grupo Simec published news for 2021 q4
SEC form 6
2021-10-28 12:22 ET
Grupo Simec published news for 2021 q3
SEC form 6
2021-07-14 11:10 ET
Grupo Simec published news for 2021 q2
SEC form 6
2021-05-25 12:38 ET
Grupo Simec published news for 2021 q1
SEC form 6
2021-05-24 17:30 ET
Grupo Simec published news for 2021 q1
SEC form 6
2021-05-21 19:19 ET
Grupo Simec published news for 2021 q1
SEC form 6
2021-05-03 16:33 ET
Grupo Simec published news for 2021 q1
SEC form 6
2021-04-30 17:45 ET
Grupo Simec published news for 2021 q1
SEC form 6
2021-04-30 16:56 ET
Grupo Simec published news for 2021 q1
SEC form 6
2021-02-09 13:03 ET
Grupo Simec published news for 2020 q4
SEC form 6
2021-01-13 16:38 ET
Grupo Simec published news for 2020 q4
SEC form 6
2021-01-12 17:01 ET
Grupo Simec published news for 2020 q4
SEC form 6
2020-10-28 13:30 ET
Grupo Simec published news for 2020 q3