SZG Stock Analysis: Salzgitter | XETRA
Steel | XETRA, Germany | Market Cap: 2.609m EUR | 12M Return: 48.6% | DE0006202005 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.78M
Qual. Beats: 0
Rev. Trend: -98.8%
Qual. Beats: -1
Warnings
Tailwinds
No distinct edge detected
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.
Salzgitter AG is a Germany-based industrial group that operates across the global steel value chain, with additional activities in machinery engineering and related services. Founded in 1858 and headquartered in Salzgitter, Germany, the company is organized into four segments: Steel Production, which manufactures hot-rolled wide strip, steel sheet, sections, tailored blanks, and trades scrap; Steel Processing, which produces heavy plate, line pipes, HFI-welded tubes, and precision tubes; Trading, which runs a European sales network supplemented by international trading companies and agencies; and Technology, which supplies machinery for beverage filling and packaging, as well as special machinery for elastomer production. Beyond its core segments, the group also offers IT, facility management, logistics, automotive engineering, and R&D services, and supplies raw materials.
The company is listed on XETRA under the ticker SZG and is classified in the GICS Materials sector within the Steel sub-industry. As a European steelmaker, Salzgitter competes in a cyclical, capital-intensive industry where earnings are closely tied to global steel prices, demand from construction and automotive customers, and the cost of key inputs such as iron ore, coking coal, and scrap. The diversified Technology segment, which includes filling and packaging equipment for the beverage industry, provides a partial hedge against steel-market volatility by exposing the group to the more stable capital-goods sector.
- EU carbon allowance costs squeeze steel production margins
- Weak auto demand pressures European hot-rolled coil prices
- EU steel safeguard quotas restrict import volumes lifting local pricing
| Net Income: 57.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.05 > 0.02 and ΔFCF/TA -0.14 > 1.0 |
| NWC/Revenue: 26.82% < 20% (prev 19.29%; Δ 7.52% < -1%) |
| CFO/TA 0.04 > 3% & CFO 407.7m > Net Income 57.1m |
| Net Debt (1.29b) to EBITDA (419.8m): 3.07 < 3 |
| Current Ratio: 1.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (55.0m) vs 12m ago 1.79% < -2% |
| Gross Margin: 17.46% > 18% (prev 32.38%; Δ -14.93% > 0.5%) |
| Asset Turnover: 84.15% > 50% (prev 91.50%; Δ -7.36% > 0%) |
| Interest Coverage Ratio: 0.84 > 6 (EBIT TTM 108.9m / Interest Expense TTM 129.5m) |
| A: 0.22 (Total Current Assets 5.59b - Total Current Liabilities 3.21b) / Total Assets 10.9b |
| B: 0.41 (Retained Earnings 4.40b / Total Assets 10.9b) |
| C: 0.01 (EBIT TTM 108.9m / Avg Total Assets 10.6b) |
| D: 0.72 (Book Value of Equity 4.54b / Total Liabilities 6.31b) |
| Altman-Z'' = 3.59 = A |
| DSRI: 0.95 (Receivables 1.64b/1.83b, Revenue 8.90b/9.43b) |
| GMI: 1.86 (GM 32.38% / 17.46%) |
| AQI: 0.99 (AQ_t 0.23 / AQ_t-1 0.23) |
| SGI: 0.94 (Revenue 8.90b / 9.43b) |
| TATA: -0.03 (NI 57.1m - CFO 407.7m) / TA 10.9b) |
| Beneish M = -2.34 (Cap -4..+1) = BBB |
As of October 12, 2026, the stock is trading at EUR 49.94 with a total of 260,255 shares traded. Over the past week, the price has changed by +3.52%, over one month by -16.91%, over three months by +4.04% and over the past year by +48.64%.
Current recommended Stop Loss: 46.20 (which is 7.5% or 1.4 ATR below the current price).
Salzgitter has no consensus analysts rating.
P/E Trailing = 45.9429
P/E Forward = 4.2141
P/S = 0.293
P/B = 0.6284
P/EG = 0.8262
Revenue TTM = 8.90b EUR
EBIT TTM = 108.9m EUR
EBITDA TTM = 419.8m EUR
Long Term Debt = 1.01b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 985.0m EUR (from shortTermDebt, last quarter)
Debt = 2.49b EUR (from shortLongTermDebtTotal, last quarter) + Leases 157.2m
Net Debt = 1.29b EUR (calculated: Debt 2.49b - CCE 1.20b)
Enterprise Value = 3.90b EUR (2.61b + Debt 2.49b - CCE 1.20b)
Interest Coverage Ratio = 0.84 (Ebit TTM 108.9m / Interest Expense TTM 129.5m)
EV/FCF = -7.05x (Enterprise Value 3.90b / FCF TTM -553.2m)
FCF Yield = -14.19% (FCF TTM -553.2m / Enterprise Value 3.90b)
FCF Margin = -6.21% (FCF TTM -553.2m / Revenue TTM 8.90b)
Net Margin = 0.64% (Net Income TTM 57.1m / Revenue TTM 8.90b)
Gross Margin = 17.46% ((Revenue TTM 8.90b - Cost of Revenue TTM 7.35b) / Revenue TTM)
Gross Margin QoQ = 13.00% (prev 11.90%)
Tobins Q-Ratio = 0.36 (Enterprise Value 3.90b / Total Assets 10.9b)
Interest Expense / Debt = 5.20% (Interest Expense 129.5m / Debt 2.49b)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 81.7m (EBIT 108.9m * (1 - 25.00%))
Current Ratio = 1.74 (Total Current Assets 5.59b / Total Current Liabilities 3.21b)
Debt / Equity = 0.55 (Debt 2.49b / totalStockholderEquity, last quarter 4.54b)
Debt / EBITDA = 3.07 (Net Debt 1.29b / EBITDA 419.8m)
Debt / FCF = -2.33 (negative FCF - burning cash) (Net Debt 1.29b / FCF TTM -553.2m)
Total Stockholder Equity = 4.48b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.54% (Net Income 57.1m / Total Assets 10.9b)
RoE = 1.27% (Net Income TTM 57.1m / Total Stockholder Equity 4.48b)
RoCE = 1.98% (EBIT 108.9m / Capital Employed (Equity 4.48b + L.T.Debt 1.01b))
RoIC = 1.00% (NOPAT 81.7m / Invested Capital 8.19b)
WACC = 7.79% (E(2.61b)/V(5.10b) * Re(11.51%) + D(2.49b)/V(5.10b) * Rd(5.20%) * (1-Tc(0.25)))
Discount Rate = 11.51% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 55.52 | Cagr: 1.02%
[DCF] Fair Price = unknown (Cash Flow -553.2m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.02 | # QB: 0
Revenue Correlation: -98.76 | Revenue CAGR: -8.08% | SUE: -4.0 | # QB: -1
EPS current Quarter (2026-09-30): EPS=0.64 | Chg30d=+0.00% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=5.45 | Chg30d=+0.00% | Revisions=+50% | GrowthEPS=+583.9% | GrowthRev=+7.8%
EPS next Year (2027-12-31): EPS=7.46 | Chg30d=+0.30% | Revisions=+50% | GrowthEPS=+36.9% | GrowthRev=+12.0%
[Analyst] Revisions Ratio: +50% (up=6, down=1)