SSAB-B Stock Analysis: SSAB (publ) | ST
Steel | ST, Sweden | Market Cap: 102.810m SEK | 12M Return: 63.7% | SE0000120669 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 200M
EPS Trend: -88.8%
Qual. Beats: -1
Rev. Trend: -95.7%
Qual. Beats: 2
Warnings
No concerns identified
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.
SSAB AB is a Swedish steel producer founded in 1878 and headquartered in Stockholm, operating across five segments: SSAB Special Steels (quenched and tempered and advanced high-strength steels), SSAB Europe (strip, heavy plate, and tubular products), SSAB Americas (heavy plates), Tibnor (Nordic/Baltic distribution of steel and non-ferrous metals), and Ruukki Construction (building solutions). The company sells under a broad portfolio of brands including Strenx, Hardox, Docol, GreenCoat, and Toolox, serving end markets such as heavy transport, automotive, construction machinery, energy, and construction. Geographically, SSAB generates revenue across Sweden, Finland, Germany, Poland, Denmark, the rest of Europe, the United States, and Asia, and is notable for offering fossil-free steel products as part of its decarbonization roadmap.
The steel sector is capital-intensive and cyclical, with demand closely tied to construction activity, industrial production, and heavy equipment manufacturing. SSABs business model emphasizes value-added specialty grades-particularly high-strength and wear-resistant steels-rather than commodity flat products, which typically command pricing premiums and serve structural weight-reduction needs in transport and machinery applications.
- Special Steels margins expand on fossil-free steel premium
- European steel demand weakens amid construction slowdown
- US heavy plate pricing benefits from energy transition spending
| Net Income: 5.61b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA 0.87 > 1.0 |
| NWC/Revenue: 40.02% < 20% (prev 41.30%; Δ -1.28% < -1%) |
| CFO/TA 0.11 > 3% & CFO 12.2b > Net Income 5.61b |
| Net Debt (-5.34b) to EBITDA (11.6b): -0.46 < 3 |
| Current Ratio: 2.42 > 1.5 & < 3 |
| Outstanding Shares: last quarter (996.6m) vs 12m ago 0.0% < -2% |
| Gross Margin: 14.02% > 18% (prev 11.89%; Δ 2.13% > 0.5%) |
| Asset Turnover: 91.44% > 50% (prev 96.73%; Δ -5.29% > 0%) |
| Interest Coverage Ratio: 12.04 > 6 (EBIT TTM 7.49b / Interest Expense TTM 622.0m) |
| A: 0.35 (Total Current Assets 66.7b - Total Current Liabilities 27.5b) / Total Assets 112b |
| B: 0.24 (Retained Earnings 26.7b / Total Assets 112b) |
| C: 0.07 (EBIT TTM 7.49b / Avg Total Assets 107b) |
| D: 1.74 (Book Value of Equity 70.8b / Total Liabilities 40.8b) |
| Altman-Z'' = 5.38 = AAA |
| DSRI: 1.20 (Receivables 16.4b/13.9b, Revenue 97.9b/99.1b) |
| GMI: 0.85 (GM 11.89% / 14.02%) |
| AQI: 1.01 (AQ_t 0.03 / AQ_t-1 0.03) |
| SGI: 0.99 (Revenue 97.9b / 99.1b) |
| TATA: -0.06 (NI 5.61b - CFO 12.2b) / TA 112b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of October 12, 2026, the stock is trading at SEK 103.65 with a total of 1,905,251 shares traded. Over the past week, the price has changed by +2.93%, over one month by -0.29%, over three months by +11.57% and over the past year by +63.70%.
Current recommended Stop Loss: 96.90 (which is 6.5% or 2.2 ATR below the current price).
SSAB (publ) has no consensus analysts rating.
P/E Trailing = 18.4833
P/E Forward = 14.771
P/S = 1.0985
P/B = 1.4806
P/EG = 3.7631
Revenue TTM = 97.9b SEK
EBIT TTM = 7.49b SEK
EBITDA TTM = 11.6b SEK
Long Term Debt = 7.25b SEK (from longTermDebt, last quarter)
Short Term Debt = 973.0m SEK (from shortTermDebt, last quarter)
Debt = 14.3b SEK (from shortLongTermDebtTotal, last quarter) + Leases 3.46b
Net Debt = -5.34b SEK (calculated: Debt 14.3b - CCE 19.7b)
Enterprise Value = 97.5b SEK (103b + Debt 14.3b - CCE 19.7b)
Interest Coverage Ratio = 12.04 (Ebit TTM 7.49b / Interest Expense TTM 622.0m)
EV/FCF = -1000.0x (Enterprise Value 97.5b / FCF TTM -26.0m)
FCF Yield = -0.03% (FCF TTM -26.0m / Enterprise Value 97.5b)
FCF Margin = -0.03% (FCF TTM -26.0m / Revenue TTM 97.9b)
Net Margin = 5.73% (Net Income TTM 5.61b / Revenue TTM 97.9b)
Gross Margin = 14.02% ((Revenue TTM 97.9b - Cost of Revenue TTM 84.2b) / Revenue TTM)
Gross Margin QoQ = 15.61% (prev 14.93%)
Tobins Q-Ratio = 0.87 (Enterprise Value 97.5b / Total Assets 112b)
Interest Expense / Debt = 4.34% (Interest Expense 622.0m / Debt 14.3b)
Taxrate = 23.45% (1.72b / 7.33b)
NOPAT = 5.73b (EBIT 7.49b * (1 - 23.45%))
Current Ratio = 2.42 (Total Current Assets 66.7b / Total Current Liabilities 27.5b)
Debt / Equity = 0.20 (Debt 14.3b / totalStockholderEquity, last quarter 70.8b)
Debt / EBITDA = -0.46 (Net Debt -5.34b / EBITDA 11.6b)
Debt / FCF = 205.3 (negative FCF - burning cash) (Net Debt -5.34b / FCF TTM -26.0m)
Total Stockholder Equity = 69.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.24% (Net Income 5.61b / Total Assets 112b)
RoE = 8.10% (Net Income TTM 5.61b / Total Stockholder Equity 69.2b)
RoCE = 9.79% (EBIT 7.49b / Capital Employed (Equity 69.2b + L.T.Debt 7.25b))
RoIC = 7.15% (NOPAT 5.73b / Invested Capital 80.2b)
WACC = 8.38% (E(103b)/V(117b) * Re(9.08%) + D(14.3b)/V(117b) * Rd(4.34%) * (1-Tc(0.23)))
Discount Rate = 9.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -52.31 | Cagr: -0.20%
[DCF] Fair Price = unknown (Cash Flow -26.0m)
EPS Correlation: -88.83 | EPS CAGR: -33.59% | SUE: -1.54 | # QB: -1
Revenue Correlation: -95.69 | Revenue CAGR: -8.38% | SUE: 0.85 | # QB: 2
EPS current Quarter (2026-09-30): EPS=1.60 | Chg30d=-5.88% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=7.34 | Chg30d=+0.65% | Revisions=+40% | GrowthEPS=+49.3% | GrowthRev=+8.8%
EPS next Year (2027-12-31): EPS=9.22 | Chg30d=+7.50% | Revisions=+40% | GrowthEPS=+25.6% | GrowthRev=+8.5%
[Analyst] Revisions Ratio: +38% (up=4, down=1)