BLUESCOPE STEEL LIMITED (BSL)
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BSL

BSL - BLUESCOPE STEEL LIMITED

FNArena Sector : Steel & Scrap
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.04
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

BlueScope Steel is an Australian manufacturer of coated and painted flat steel products for the construction and engineering sector. It was de-merged from BHP and listed in 2002.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$32.19

16 Oct
2026

1.350

OPEN

$32.15

4.38%

HIGH

$32.65

2,229,444

LOW

$31.67

TARGET
$35.338 9.8% upside
OTHER COMPANIES IN THE SAME SECTOR
SGM . VSL .
FNARENA'S MARKET CONSENSUS FORECASTS
BSL: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 183.0 278.9 xxx
DPS (cps) xxx 300.0 172.5 xxx
EPS Growth xxx 100.0% 52.4% xxx
DPS Growth xxx 100.0% - 42.5% xxx
PE Ratio xxx N/A 11.5 xxx
Dividend Yield xxx N/A 5.4% xxx
Div Pay Ratio(%) xxx 164.0% 61.9% xxx

Dividend yield today if purchased 3 years ago: 16.90%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 9.36

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 08/09 - (franking ex-div 70.00c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx183.0
DPS All xxxxxxxxxxxxxxx300.0
Sales/Revenue xxxxxxxxxxxxxxx16,662.6 M
Book Value Per Share xxxxxxxxxxxxxxx2,354.5
Net Operating Cash Flow xxxxxxxxxxxxxxx1,725.6 M
Net Profit Margin xxxxxxxxxxxxxxx4.79 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx7.60 %
Return on Invested Capital xxxxxxxxxxxxxxx6.85 %
Return on Assets xxxxxxxxxxxxxxx4.96 %
Return on Equity xxxxxxxxxxxxxxx7.60 %
Return on Total Capital xxxxxxxxxxxxxxx8.08 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-596.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx182 M
Long Term Debt xxxxxxxxxxxxxxx1,585 M
Total Debt xxxxxxxxxxxxxxx1,767 M
Goodwill - Gross xxxxxxxxxxxxxxx2,345 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,167 M
Price To Book Value xxxxxxxxxxxxxxx1.35

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx1,485.7 M
Capex % of Sales xxxxxxxxxxxxxxx8.92 %
Cost of Goods Sold xxxxxxxxxxxxxxx14,400 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,260 M
Research & Development xxxxxxxxxxxxxxx32 M
Investments - Total xxxxxxxxxxxxxxx33 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

18/08/2026

3

Equal-weight

$34.00

5.62%

Morgan Stanley retains an Equal-weight rating and an In-Line industry view for BlueScope Steel with its target price increased to $34.00 from $32.35 following strong FY26 results and upbeat 1H27 EBIT guidance.

Underlying EBIT reached $1.27bn, exceeding consensus estimates by 2% and driven by robust performance across North Star.

The analyst highlights that 1H27 EBIT guidance of $860m to $960m sits 11% above consensus expectations at the midpoint, supported by elevated US steel spreads and additional net cost-out benefits of $150m projected for FY27.

The broker's estimates project FY27 and FY28 EBIT growth of 30.5% and 3.0% respectively, underpinned by lower capital expenditure and strong cash generation.

Management plans shareholder returns of $3.00 per share in 2027, combining ordinary dividends with buy-backs and special dividends.

FORECAST
Morgan Stanley forecasts a full year FY27 dividend of 300.00 cents and EPS of 258.40 cents.
Morgan Stanley forecasts a full year FY28 dividend of 140.00 cents and EPS of 257.60 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

25/08/2026

3

Neutral

$32.70

1.58%

Jarden maintains its Neutral recommendation for BlueScope Steel with its target price reduced to $32.70 from $34.80 following implications from a reported tentative agreement between the United States and Canada to potentially lower tariffs on Canadian steel and aluminium to 25% from 50%, affecting North Star operations.

The analyst reduces estimates for United States benchmark spreads over the FY27-FY29 period due to the potential for cheaper Canadian steel imports alongside updated foreign exchange assumptions.

These adjustments lower earnings per share forecasts by -4%-10%.
Access Extra Coverage Research History >

BSL STOCK CHART

FNArena News on BSL

1
Weekly Ratings, Targets, Forecast Changes – 16-10-26

10:00 AM - Weekly Reports
2
Rudi’s View: Stocks To Own & Best To Avoid

Oct 15 2026 - Rudi's View
3
Rudi’s View: Ampol, BlueScope, Evolution, Infratil, Ramelius & More

Sep 24 2026 - Rudi's View
4
Rudi’s View: Resilient, But August Fails To Excite

Sep 02 2026 - Rudi's View
5
Australian Broker Call *Extra* Edition – Aug 25, 2026

Aug 25 2026 - Daily Market Reports

Latest Steel & Scrap News

1
Sims Has Further Room To Run

Mar 25 2025 - Technicals
2
Treasure Chest: Sims

May 31 2024 - Treasure Chest
3
ESG Focus: The Little Big Things – 23-11-2023

Nov 23 2023 - ESG Focus
4
Short Term Pain Continues For Sims

Sep 14 2023 - Australia
5
ESG Focus: Green Steel Innovation On Fire

Jun 22 2023 - ESG Focus
6
ESG Focus: Green Steel Rolling In

Jun 15 2023 - ESG Focus
7
BlueScope Steel Undervalued?

Nov 21 2022 - Australia
8
BlueScope Steel Committed To Emissions Targets

Sep 28 2022 - ESG Focus
9
BlueScope Steel Transforms US Operations

Apr 13 2022 - Australia
10
Sims Shines In The Scrap Yard

Feb 16 2022 - Australia