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Steel · Basic Materials · Fiscal year ends Dec 31 · Reports in MXN
GRUPO SIMEC, S.A.B. de C.V. reported revenue of MXN 30.3B in the fiscal year ended Dec 2025, down 10.0% from the year before. Operating income was MXN 2.8B, an operating margin of 9.3%, and net income was MXN 1.5B. Operating cash flow of MXN 523M less capital expenditure of MXN 2.9B left free cash flow of −MXN 2.4B. It held more cash than debt (net cash MXN 27.3B).
Ranks among the 10 steel companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 55,620 | 54,159 | 41,139 | 33,658 | 30,291 |
| Cost of revenue | 39,968 | 39,684 | 31,100 | 26,033 | 22,783 |
| Gross profit | 15,652 | 14,475 | 10,039 | 7,625 | 7,508 |
| Selling, general & admin | 42,011 | 42,141 | 33,417 | 28,635 | 25,613 |
| Operating incomederived: pre-tax income + interest | 13,923 | 11,217 | 6,168 | 12,544 | 2,818 |
| Interest expense | 87.4 | 56.4 | 154 | 3.7 | 111 |
| Pre-tax income | 13,836 | 11,161 | 6,014 | 12,541 | 2,707 |
| Income tax | 4,390 | 3,300 | 1,740 | – | – |
| Net income | 9,446 | 7,861 | 4,274 | 10,480 | 1,495 |
| Diluted EPS | 20.41 | 17.00 | 9.28 | 22.71 | 3.25 |
| Diluted shares | 463 | 462 | 462 | 461 | 461 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 15,130 | 21,546 | 23,584 | 29,158 | 28,551 |
| Receivables | 443 | 564 | 5,680 | 4,492 | 4,566 |
| Inventory | 11,748 | 12,791 | 10,204 | 11,164 | 9,097 |
| Current assets | 35,770 | 43,524 | 41,736 | 46,468 | 43,776 |
| Net PP&E | 16,013 | 16,783 | 17,954 | 19,630 | 21,101 |
| Total assets | 57,343 | 67,633 | 66,788 | 73,298 | 71,279 |
| Payables | 6,910 | 9,410 | 7,443 | 4,167 | 3,074 |
| Current liabilities | 11,062 | 15,154 | 12,971 | 10,200 | 8,334 |
| Short-term debt | 5.8 | 5.8 | 5.1 | 6.2 | 5.4 |
| Long-term debt | 515 | 702 | 703 | – | 1,205 |
| Total liabilities | 15,543 | 19,639 | 16,982 | 14,056 | 12,045 |
| Shareholders' equity | 41,759 | 47,957 | 49,781 | 59,214 | 59,204 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 8,387 | 8,949 | 4,263 | 5,548 | 523 |
| Capital expenditure | 1,066 | 1,696 | 2,493 | 2,127 | 2,892 |
| Free cash flow | 7,321 | 7,253 | 1,771 | 3,421 | −2,368 |
| Depreciation & amortisation | 1,175 | 1,117 | 1,035 | 1,066 | 1,082 |
| Share buybacks | 74.5 | 90.1 | 89.0 | 126 | 116 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −2.6% | −24.0% | −18.2% | −10.0% |
| Operating income growth (YoY) | – | −19.4% | −45.0% | 103.4% | −77.5% |
| EPS growth (YoY) | – | −16.7% | −45.4% | 144.7% | −85.7% |
| Gross margin | 28.1% | 26.7% | 24.4% | 22.7% | 24.8% |
| Operating margin | 25.0% | 20.7% | 15.0% | 37.3% | 9.3% |
| Net margin | 17.0% | 14.5% | 10.4% | 31.1% | 4.9% |
| Return on equityBlank when equity is negative | 22.6% | 16.4% | 8.6% | 17.7% | 2.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 30.1% | 21.4% | 11.5% | 19.9% | 4.5% |
| Free cash flow margin | 13.2% | 13.4% | 4.3% | 10.2% | −7.8% |
| Cash conversion (CFO ÷ net income) | 0.89x | 1.14x | 1.00x | 0.53x | 0.35x |
| Receivable days | 3 | 4 | 50 | 49 | 55 |
| Inventory days | 107 | 118 | 120 | 157 | 146 |
| Payable days | 63 | 87 | 87 | 58 | 49 |
| Interest cover | 159x | 199x | 40.1x | 3360x | 25.4x |
| Debt ÷ equity | 0.01x | 0.01x | 0.01x | – | 0.02x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −14,609 | −20,839 | −22,876 | – | −27,341 |
| Current ratio | 3.23x | 2.87x | 3.22x | 4.56x | 5.25x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.