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

$32.15

19 Aug
2026

0.650

OPEN

$32.70

2.06%

HIGH

$32.75

2,373,977

LOW

$31.68

TARGET
$33.713 4.9% 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 183.0 266.1 xxx
DPS (cps) xxx 300.0 172.5 xxx
EPS Growth xxx 100.0% 45.4% xxx
DPS Growth xxx 100.0% - 42.5% xxx
PE Ratio xxx N/A 11.2 xxx
Dividend Yield xxx N/A 5.8% xxx
Div Pay Ratio(%) xxx 164.0% 64.8% xxx

Dividend yield today if purchased 3 years ago: 14.59%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 10.05

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: 20/02 - ex-div 65.00c (franking 100%)

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

0.1

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

18/08/2026

4

Downgrade to Lighten from Hold

$29.00

-9.80%

BlueScope Steel delivered FY26 underlying earnings of almost $1.3bn, up from $535m in FY25. Earnings in the second half were $716m, above the $620m–$700m guidance range, and 3% ahead of consensus.

FY26 earnings were largely driven by North Star, Ord Minnett notes, as steel spreads strengthened and capacity utilisation reached 100%.

In contrast, Australian earnings fell –28% due to low Asian steel spreads and higher raw material costs, even though volumes were strong.

First-half FY27 guidance is for earnings to be between $860m–$960m, significantly above consensus of $812m and the $558m a year ago.

Ord Minnett lowers its rating to Lighten from Hold, as the broker thinks a lot of good news is now factored in.

Target unchanged at $29.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 130.00 cents and EPS of 236.00 cents.
Ord Minnett forecasts a full year FY28 dividend of 130.00 cents and EPS of 212.00 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

-1

xx xxxxxx

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

20/08/2026

3

Neutral

$34.80

8.24%

Jarden maintains a Neutral rating for BlueScope Steel with its target price increased to $34.80 from $34.40 following an FY26 result that highlights leverage to robust United States steel spreads.

The analyst highlights that group underlying EBIT reached $1,273m, up 73% against FY25, supported heavily by the North Star operation where underlying EBIT rose to $805m from $267m.

The broker's estimates reflect structural undersupply in the United States alongside import price parity risks that frame the duration of the current environment.

Management plans to repeat the $3.00 per share distribution in 2027, backed by a capital expenditure step-down from $1.5bn in FY26.

The valuation is supported by strong near-term spread conditions.

FORECAST
Jarden forecasts a full year FY27 dividend of 300.00 cents and EPS of 0.00 cents.
Jarden forecasts a full year FY28 dividend of 0.00 cents and EPS of 0.00 cents.
Access Extra Coverage Research History >

BSL STOCK CHART

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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