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Australian steelmaker known for coated flat steel products (Colorbond, Zincalume), with major operations in the US and Asia.
Australian steelmaker known for coated flat steel products (Colorbond, Zincalume), with major operations in the US and Asia.
Sells value-added products: coated and painted steel such as Colorbond roofing and cladding in Australia, steel buildings in North America, and, in the US, steel made in a recycled-scrap electric-arc mill. Margins depend on the gap between steel prices and input costs more than on volume. Nippon Steel is a long-time partner in its Asian coated-steel joint ventures.
In one line: Australia's Nucor/Steel Dynamics.
Moat: narrow (brand, scale, installed base). Strong Colorbond brand recognition in Australian building products plus an efficient US electric-arc mini-mill.
Headquarters: Melbourne, Australia · Founded: 2002 · Employees: 15,800
Size Bluescope Steel (BSL.AX) is an Australia Industrials company (Metal Fabrication) with a market value of $9.53B, the 37th largest of 316 Australia companies the cockpit tracks. Shares closed at A$31.41 on 6 Nov 2026.
Performance Over six months the shares gained 4.3%, against -15.9% for the median peer and +4.1% for the Australia market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 2.4% over the last twelve months (peer median +21.8%); the operating margin is 6.0% (peer median 11.6%).
Valuation It trades at 10.3× forward earnings against a peer median of 24.7× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.4 points below its cost of capital (11.3% WACC).
Next results Next results expected around 15 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$16.7B | A$16.7B | A$16.3B | A$17.1B | A$18.2B |
| Revenue growth | — | +2% | -4% | -6% | — |
| Gross profit | A$2.26B | A$2.26B | A$1.83B | A$2.46B | A$2.67B |
| EBITDA | A$1.70B | A$1.70B | A$1.30B | A$1.84B | A$2.04B |
| Net income | A$802M | A$802M | A$83.8M | A$806M | A$1.01B |
| Free cash flow | A$258M | A$258M | A$197M | A$447M | A$1.35B |
| Capital expenditure | A$1.49B | A$1.49B | A$1.23B | A$976M | A$809M |
| Total debt | n/a | A$1.77B | A$886M | A$722M | A$786M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Bluescope Steel BSL.AX | $9.53B | +4% | +2% | 6% | 10.3× | 16.7% |
| Nucor NUE | $55.6B | +8% | +22% | 13% | 10.2× | 12.0% |
| Steel Dynamics STLD | $31.7B | -5% | +26% | 12% | 9.7× | 11.7% |
| Tata Steel TATASTEEL.NS | $24.6B | -14% | +11% | 9% | 14.0× | 8.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BSL.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | -7.8% | 4th highest of 21 |
| 6-month return | +4.3% | -15.9% | 6th highest of 21 |
| Distance from 52-week high | -10.9% | -30.0% | 5th highest of 21 |
| Revenue growth (TTM) | +2.4% | +21.8% | 4th lowest of 21 |
| Operating margin | 6.0% | 11.6% | 4th lowest of 21 |
| Forward P/E | 10.3× | 24.7× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 16.7% | 12.5% | 5th most demanding of 11 |
| Growth delivered (Del g) | +5.3% | +16.8% | 2nd lowest of 11 |
| Hurdle (Req g minus delivered) | +11.4 pp | +1.2 pp | 3rd most demanding of 11 |
| ROIC minus cost of capital | -5.4 pp | +0.9 pp | 6th lowest of 21 |
| EV / EBITDA | 8.8× | 13.7× | 2nd cheapest of 12 |
| Net debt / EBITDA | 0.3× | 0.4× | 7th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bluescope Steel BSL.AX | Australia | $9.53B | +4% | +2% | 6% | 10.3× | 16.7% | +5.3% |
| SSAB SSAB-A.ST | Sweden | $9.31B | +10% | +3% | 8% | 12.2× | n/a | n/a |
| Bharat Forge BHARATFORG.NS | India | $9.01B | -13% | +18% | 11% | 51.4× | 46.3% | +21.6% |
| Anhui Tongguan Copper Foil 301217.SZ | China | $8.60B | -12% | +36% | 5% | 105.6× | n/a | n/a |
| Mueller Industries MLI | United States | $11.5B | -25% | +21% | 20% | 12.0× | 0.0% | +11.7% |
| Valmont Industries VMI | United States | $7.74B | -21% | +5% | 14% | 15.9× | 10.7% | +7.2% |
| Himile Mechanical Science & Technology (Shandong) 002595.SZ | China | $7.40B | -29% | +17% | 20% | 19.8× | 8.4% | +15.9% |
| SKF SKF-A.ST | Sweden | $12.7B | +18% | -10% | 12% | 16.4× | 5.8% | +4.1% |
| SFS SFSN.SW | Switzerland | $6.68B | +15% | +2% | 12% | 19.8× | -2.1% | +12.3% |
| RBC Bearings RBC | United States | $15.0B | -22% | +17% | 26% | 29.6× | 26.0% | +25.2% |
| Schaeffler India SCHAEFFLER.NS | India | $5.83B | -17% | +23% | 15% | 40.4× | 29.7% | +20.8% |
| Jiujiang Defu Technology 301511.SZ | China | $5.09B | -28% | +69% | 6% | 44.4× | n/a | n/a |
| JL MAG Rare-Earth 6680.HK | Hong Kong | $4.59B | -27% | +46% | 11% | 17.3× | 14.3% | +25.2% |
| POCO 300811.SZ | China | $4.24B | -15% | +48% | 24% | 38.4× | n/a | n/a |
| Hengdian Group DMEGC Magnetics 002056.SZ | China | $4.16B | -9% | +3% | 7% | 14.5× | n/a | n/a |
| PTC Industries PTCIL.NS | India | $4.09B | +45% | +95% | 19% | 174.5× | n/a | n/a |
| Shyam Metalics & Energy SHYAMMETL.NS | India | $3.84B | +47% | +26% | 9% | 19.3× | n/a | n/a |
| Endurance Technologies ENDURANCE.NS | India | $3.71B | -1% | +32% | 8% | 32.3× | 29.9% | +17.6% |
| Sinomach Precision Industry 002046.SZ | China | $3.47B | -17% | -1% | 4% | 75.7× | n/a | n/a |
| Shandong Hongqiao Aluminum Industry 002379.SZ | China | $28.8B | -41% | +9,614% | 20% | 6.3× | n/a | n/a |
| Shaanxi Sirui Advanced Materials 688102.SS | China | $2.99B | -39% | +38% | 11% | 96.5× | n/a | n/a |