Steel producer financial model, built free.
A three-statement Excel model for a steel producer, built from your own figures and checked to balance.
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- Usually ready within the hour
We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more
Makes steel in integrated blast-furnace mills or scrap-based electric-arc-furnace mini-mills and rolls it into long and flat products, earning the metal spread over iron ore and coking coal or scrap, with high energy and carbon costs and major reline cycles.
In short
- 01
Three linked statements
Income statement, balance sheet and cash flow, linked in every period.
- 02
Valued two ways
Discounted cash flow and trading multiples, side by side.
- 03
Monthly to annual
Monthly, quarterly, half-yearly or annual periods, for up to 30 years.
- 04
Checked every period
A Checks sheet shows the balance sheet balances and the cash reconciles.
The sample, as Excel draws it.
Built by the same system and checks as yours, on illustrative figures: every sheet as Excel draws it, or live.
Illustrative figures: the sample describes no real business. The live preview shows values; your model’s Excel file has every formula.
How the model works for a steel producer.
- How it earns revenue3 formulasProduct pricing and plant revenue · All plantsImport parity priceLanded price in model currencyImport dutyPort and delivery costsProduct pricing and plant revenue · All plantsPlant sales revenueProduction (feed × yield)from capacity and productionRealised price per unitProduct pricing and plant revenue · All plantsRealised price per unitImport parity priceDiscount to import parityProduct mix and service premium
- What drives its costs3 formulasDirect labour · All plantsDirect labourFixed labourVariable labour (production × cost per unit)Maintenance · All plantsTurnaround cost capitalisedTurnaround costShare of the turnaround cost capitalisedMaintenance · All plantsMaintenance costRoutine maintenanceTurnaround cost expensed
- What it invests in3 formulasPlant capex and depreciation · All plantsPlant capital expenditureSustaining capexRebuild capexPlant capex and depreciation · All plantsPlant depreciationDepreciation of existing assetsDepreciation of the current campaign (to the next rebuild)from to the next rebuildDepreciation of sustaining additionsDepreciation of rebuildsPlant capex and depreciation · All plantsClosing net book valueOpening net book valuePlant capital expenditurePlant depreciation
- How it is funded3 formulasDebtClosing balanceOpening balanceDrawdowns allocatedRepaid at maturityPlanned repayments and prepayments allocatedDebtOpening drawn balance (all facilities)Facility 1 (revolver) — Opening drawn balancefrom revolver) — Opening drawn balanceFacility 2 (term loan) — Opening drawn balancefrom term loan) — Opening drawn balanceFacility 3 (notes) — Opening drawn balancefrom notes) — Opening drawn balanceDividends and distributionsClosing dividends payableOpening dividends payableDividends declaredDividends paid
- How profit becomes cash3 formulasWorking capitalTrade receivablesRevenuefrom statementsDebtor daysDays in periodWorking capitalInventoryDirect costs (positive)from statementsInventory daysDays in periodWorking capitalTrade payablesCash operating costs (positive)from statementsCreditor daysDays in period
25 parts, each one tested.
Every part is a tested building block with its own checks: yours is put together from the ones your business needs.
- CPI forecastConsensus curve with long-run anchor
- Exchange rate (US dollar)Exchange rate by financial year
- Operating expensesOperating expense line items
- Corporate costsFixed cost base indexed to CPI
- Working capitalDays-based working capital
- Income taxCorporate rate with tax losses
- Corporate fixed assetsStraight-line over remaining life
- DebtFacility register with limits and refinancing
- Dividends and distributionsPayout of net profit
- Discounted cash flow valuationDCF on free cash flow to the firm
- Multiples valuationEV / EBITDA multiple
- Interest-rate hedgingSwap book
- LeasesLease register
- InventoryWeighted average costRaw materials, work-in-progress and finished goods held to support production and sales (used in place of the inventory part of working capital), and the cost-of-sales effect of the costing method and stock provisions.
- Key-metric summaryLast-twelve-month and run-rate metrics
- Discount rate (WACC)Peer asset beta relevered
- Terminal valueExit multiple
- Capacity and productionFeed × conversion yieldHow much a plant can make and how much it does make, from capacity, operating time, utilisation and yield.
- Direct labourFixed plus variable labourWages and on-costs of the production workforce at each plant.
- MaintenanceRoutine maintenance plus turnaroundsRoutine maintenance and periodic shutdowns needed to keep plant running.
- Plant fixed overheadsStep-fixed with shifts and linesSite costs that do not vary with output: site management and supervision, quality, site services, insurance, rates and other production overheads of each plant.
- Plant capex and depreciationMajor reline and rebuild cycleSustaining and expansion capital expenditure on plant, and the depreciation and book value that follow.
- Energy and carbonCarbon cost above a declining baselineElectricity, gas and fuel used by a plant, and the cost of the carbon it emits.
- Feedstock and raw materialsSteelmaking charge and metallicsRaw materials consumed by a process plant, from consumption rates and input prices.
- Product pricing and plant revenueBenchmark or import-parity priceRealised price of what a process plant sells and the revenue it earns.
The numbers it tracks.
- 01despatches (t)
- 02metal spread per tonne
- 03EBITDA per tonne
- 04utilisation
- 05carbon cost
- 06net debt
What it is used for.
- Operating forecastGuide · Financial projections
- Budget and rolling forecastGuide · Cash flow forecast
- ValuationGuide · DCF valuation model
- Lending and credit analysisGuide · Three-statement model
- Restructuring and liquidityGuide · Financial modelling services
- Merger or acquisition (strategic)Guide · Financial modelling services
- Scenarios and sensitivities
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Looking for a steel producer financial model template? Ours arrives built for your business, with your figures in it.
See a finished model, sheet by sheetThe sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.