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: 0.68
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

$33.15

25 Jun
2026

0.380

OPEN

$33.20

1.16%

HIGH

$33.29

898,652

LOW

$32.88

TARGET
$32.475

+1.66 change from previous day

 -2.0% downside
Franking for last dividend paid out: 100%
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 11.3 xxx
Dividend Yield xxx N/A 5.7% xxx
Div Pay Ratio(%) xxx 164.0% 64.8% xxx

Dividend yield today if purchased 3 years ago: 15.30%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 9.96

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

0.7

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Morgan Stanley

02/06/2026

3

Equal-weight

$29.00

-12.52%

Morgan Stanley highlights banks, consumer stocks, REITs and other housing-linked sectors as particularly exposed to a slowing housing market. A strong historical relationship between house prices and equity valuations is noted.

The broker believes consensus earnings expectations are coming under increasing pressure and suggests peak market earnings growth forecasts have likely been reached.

Within Morgan Stanley's industrials coverage, SGH Ltd and Reece are viewed as the most exposed to Australian housing activity through Boral, Coates Hire and plumbing products distribution, respectively.

BlueScope Steel also has meaningful exposure via its steel building products business, the analysts note.

By contrast, James Hardie and Reliance Worldwide derive most earnings from offshore markets and are more leveraged to the US housing cycle than Australian residential activity.

Unchanged Equal-weight rating and $29 target for BlueScope Steel. Industry view is In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 EPS of 182.60 cents.
Morgan Stanley forecasts a full year FY27 EPS of 207.40 cents.
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

09/03/2026

3

Neutral

$28.50

-14.03%

The BlueScope Steel board "remains open to a transaction" with SGH ((SGH))/Steel Dynamics but considers the revised proposal insufficient on both price and process grounds, outlining the conditions on which it would be prepared to engage further.

Whilst BlueScope Steel's board has now indicated willingness to engage with the consortium under certain conditions, seemingly material differences in views on valuation amidst the consortium's 'best and final' offer stance continue to cloud prospects of a successful transaction, Jarden suggests.

Target falls back to $28.50 from $30.00, Neutral retained.

FORECAST
Jarden forecasts a full year FY26 dividend of 130.00 cents and EPS of 195.00 cents.
Jarden forecasts a full year FY27 dividend of 130.00 cents and EPS of 187.60 cents.
Access Extra Coverage Research History >

BSL STOCK CHART

FNArena News on BSL

Latest Steel & Scrap News

1
BlueScope Steel Transforms US Operations

Apr 13 2022 - Australia
2
Sims Shines In The Scrap Yard

Feb 16 2022 - Australia
3
Positive Trends Should Galvanise Sims

Nov 11 2021 - Australia
4
ESG Focus: Forrest’s Green Steel Plan

Jun 02 2021 - ESG Focus
5
Steel Prices Still Underpinning BlueScope

Apr 28 2021 - Australia
6
Accelerating Demand For Scrap Drives Sims

Apr 20 2021 - Australia
7
BlueScope On Top Of The Housing Boom

Feb 01 2021 - Australia
8
Treasure Chest: Questioning BlueScope Steel Takeover Talk

Nov 24 2020 - Treasure Chest
9
Demand Running In BlueScope’s Favour

Oct 26 2020 - Australia
10
The Short Report – 20 Aug 2020

Aug 20 2020 - Weekly Reports