APAM Stock Analysis: Aperam | AS
Steel | AS, Netherlands | Market Cap: 2.793m EUR | 12M Return: 23.5% | LU0569974404 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.09M
Rev. Trend: -94.7%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Aperam S.A. is a Luxembourg-based producer and global seller of stainless steel and alloy products, operating through four segments: Stainless & Electrical Steel, Services & Solutions, Alloys & Specialties, and Recycling & Renewables. Its product range covers flat stainless and electrical steel, specialty carbon products, specialty alloys, and tubes, complemented by value-added and customized steel solutions. The company also collects, trades, processes, and recycles stainless steel scrap and high-performance alloys, serving end-markets such as aerospace, automotive, construction, medical, and oil and gas. Distribution is handled through a network of steel service centers, transformation facilities, and sales offices, and the company was incorporated in 2010.
The steel industry is capital-intensive and historically cyclical, with profitability sensitive to raw material input costs (notably nickel, chromium, and iron ore) and global industrial demand. Aperams vertical integration across scrap collection, processing, and finished product manufacturing reflects a broader industry trend toward circular-economy practices and recycled-content production, which can help reduce exposure to volatile raw material markets.
- Nickel price swings pressure stainless steel margins
- European auto and construction demand lifts shipment volumes
- Recycling and Renewables segment expands amid sustainability push
| Net Income: 127.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 3.63 > 1.0 |
| NWC/Revenue: 22.07% < 20% (prev 14.50%; Δ 7.57% < -1%) |
| CFO/TA 0.08 > 3% & CFO 459.0m > Net Income 127.0m |
| Net Debt (1.11b) to EBITDA (391.0m): 2.84 < 3 |
| Current Ratio: 2.77 > 1.5 & < 3 |
| Outstanding Shares: last quarter (73.2m) vs 12m ago 0.32% < -2% |
| Gross Margin: 4.86% > 18% (prev 6.84%; Δ -1.98% > 0.5%) |
| Asset Turnover: 111.9% > 50% (prev 117.2%; Δ -5.34% > 0%) |
| Interest Coverage Ratio: 2.07 > 6 (EBIT TTM 145.0m / Interest Expense TTM 70.0m) |
| A: 0.25 (Total Current Assets 2.08b - Total Current Liabilities 751.0m) / Total Assets 5.43b |
| B: 0.51 (Retained Earnings 2.76b / Total Assets 5.43b) |
| C: 0.03 (EBIT TTM 145.0m / Avg Total Assets 5.39b) |
| D: 1.53 (Book Value of Equity 3.27b / Total Liabilities 2.14b) |
| Altman-Z'' = 5.05 = AAA |
| DSRI: 1.00 (Receivables 714.0m/746.0m, Revenue 6.03b/6.28b) |
| GMI: 1.41 (GM 6.84% / 4.86%) |
| AQI: 1.15 (AQ_t 0.20 / AQ_t-1 0.18) |
| SGI: 0.96 (Revenue 6.03b / 6.28b) |
| TATA: -0.06 (NI 127.0m - CFO 459.0m) / TA 5.43b) |
| Beneish M = -2.60 (Cap -4..+1) = A |
As of October 12, 2026, the stock is trading at EUR 38.94 with a total of 141,594 shares traded. Over the past week, the price has changed by -7.20%, over one month by -16.58%, over three months by -8.80% and over the past year by +23.46%.
Current recommended Stop Loss: 34.70 (which is 10.9% or 2.7 ATR below the current price).
Aperam has no consensus analysts rating.
P/E Trailing = 22.0229
P/E Forward = 11.0497
P/S = 0.463
P/B = 0.9926
P/EG = 0.7398
Revenue TTM = 6.03b EUR
EBIT TTM = 145.0m EUR
EBITDA TTM = 391.0m EUR
Long Term Debt = 1.01b EUR (from longTermDebt, last quarter)
Short Term Debt = 224.0m EUR (from shortTermDebt, last quarter)
Debt = 1.44b EUR (from shortLongTermDebtTotal, last quarter) + Leases 117.0m
Net Debt = 1.11b EUR (calculated: Debt 1.44b - CCE 334.0m)
Enterprise Value = 3.90b EUR (2.79b + Debt 1.44b - CCE 334.0m)
Interest Coverage Ratio = 2.07 (Ebit TTM 145.0m / Interest Expense TTM 70.0m)
EV/FCF = 11.12x (Enterprise Value 3.90b / FCF TTM 351.0m)
FCF Yield = 8.99% (FCF TTM 351.0m / Enterprise Value 3.90b)
FCF Margin = 5.82% (FCF TTM 351.0m / Revenue TTM 6.03b)
Net Margin = 2.11% (Net Income TTM 127.0m / Revenue TTM 6.03b)
Gross Margin = 4.86% ((Revenue TTM 6.03b - Cost of Revenue TTM 5.74b) / Revenue TTM)
Gross Margin QoQ = 6.04% (prev 5.71%)
Tobins Q-Ratio = 0.72 (Enterprise Value 3.90b / Total Assets 5.43b)
Interest Expense / Debt = 4.85% (Interest Expense 70.0m / Debt 1.44b)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 108.8m (EBIT 145.0m * (1 - 25.00%))
Current Ratio = 2.77 (Total Current Assets 2.08b / Total Current Liabilities 751.0m)
Debt / Equity = 0.44 (Debt 1.44b / totalStockholderEquity, last quarter 3.27b)
Debt / EBITDA = 2.84 (Net Debt 1.11b / EBITDA 391.0m)
Debt / FCF = 3.16 (Net Debt 1.11b / FCF TTM 351.0m)
Total Stockholder Equity = 3.22b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.36% (Net Income 127.0m / Total Assets 5.43b)
RoE = 3.94% (Net Income TTM 127.0m / Total Stockholder Equity 3.22b)
RoCE = 3.42% (EBIT 145.0m / Capital Employed (Equity 3.22b + L.T.Debt 1.01b))
RoIC = 2.36% (NOPAT 108.8m / Invested Capital 4.60b)
WACC = 7.44% (E(2.79b)/V(4.24b) * Re(9.40%) + D(1.44b)/V(4.24b) * Rd(4.85%) * (1-Tc(0.25)))
Discount Rate = 9.40% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 84.17 | Cagr: 0.59%
[DCF] Terminal Value 77.97% ; FCFF base≈271.4m ; Y1≈311.1m ; Y5≈457.9m
[DCF] Fair Price = 79.77 (EV 6.89b - Net Debt 1.11b = Equity 5.78b / Shares 72.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -94.67 | Revenue CAGR: -3.28% | SUE: -0.46 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.39 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=2.38 | Chg30d=-0.87% | Revisions=+17% | GrowthEPS=+137.7% | GrowthRev=+8.7%
EPS next Year (2027-12-31): EPS=4.61 | Chg30d=-0.21% | Revisions=+50% | GrowthEPS=+94.0% | GrowthRev=+11.4%
[Analyst] Revisions Ratio: +44% (up=5, down=1)