(SZG) Salzgitter - Overview
Sector: Basic Materials | Industry: Steel | Exchange: XETRA (Germany) | Market Cap: 3.083m EUR | Total Return: 157.9% in 12m
Avg Turnover: 7.95M
Qual. Beats: 0
Rev. Trend: -98.7%
Qual. Beats: 0
Warnings
High Debt while negative Cash Flow
Interest Coverage Ratio -0.2 is critical
Tailwinds
Rs Leader, Idiosyncratic Leader
Salzgitter AG is a vertically integrated German industrial group organized into four primary segments: Steel Production, Steel Processing, Trading, and Technology. The company manufactures a diverse range of products including hot-rolled strip, heavy plate, and precision tubes, while maintaining a global distribution network and a specialized engineering arm for beverage packaging machinery.
Operating in the cyclical steel sector, the company’s business model relies on high capital intensity and raw material procurement to supply the automotive, energy, and construction industries. As a major European producer, Salzgitter is currently navigating the industry-wide transition toward green steel production via hydrogen-based technologies to reduce carbon emissions. Investors looking for deeper fundamental insights may find further value in exploring the detailed metrics available on ValueRay. The firm also provides internal support services ranging from logistics and IT to research and development.
- European energy prices and raw material costs dictate steel production margins
- Cyclical demand from automotive and construction sectors drives core steel revenue
- Multi-billion euro transition to green hydrogen-based steel production impacts capital expenditure
- Global steel price volatility and Chinese export levels influence trading segment profitability
- Performance of KHS packaging machinery division provides non-cyclical revenue diversification offsets
| Net Income: 42.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.05 > 0.02 and ΔFCF/TA 0.84 > 1.0 |
| NWC/Revenue: 27.03% < 20% (prev 21.04%; Δ 5.99% < -1%) |
| CFO/TA 0.05 > 3% & CFO 569.8m > Net Income 42.0m |
| Net Debt (1.09b) to EBITDA (284.7m): 3.83 < 3 |
| Current Ratio: 1.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (54.1m) vs 12m ago -0.29% < -2% |
| Gross Margin: 22.79% > 18% (prev 0.26%; Δ 2.25k% > 0.5%) |
| Asset Turnover: 85.38% > 50% (prev 94.23%; Δ -8.85% > 0%) |
| Interest Coverage Ratio: -0.23 > 6 (EBITDA TTM 284.7m / Interest Expense TTM 128.7m) |
| A: 0.22 (Total Current Assets 5.72b - Total Current Liabilities 3.29b) / Total Assets 10.8b |
| B: 0.41 (Retained Earnings 4.48b / Total Assets 10.8b) |
| C: -0.00 (EBIT TTM -29.0m / Avg Total Assets 10.5b) |
| D: 0.75 (Book Value of Equity 4.67b / Total Liabilities 6.25b) |
| Altman-Z'' = 3.59 = A |
| DSRI: 1.01 (Receivables 1.68b/1.80b, Revenue 9.00b/9.66b) |
| GMI: 1.14 (GM 22.79% / 26.09%) |
| AQI: 0.98 (AQ_t 0.22 / AQ_t-1 0.23) |
| SGI: 0.93 (Revenue 9.00b / 9.66b) |
| TATA: -0.05 (NI 42.0m - CFO 569.8m) / TA 10.8b) |
| Beneish M = -3.00 (Cap -4..+1) = AA |
As of May 26, 2026, the stock is trading at EUR 58.45 with a total of 113,418 shares traded.
Over the past week, the price has changed by +5.32%,
over one month by +18.08%,
over three months by +6.08% and
over the past year by +157.94%.
Salzgitter has no consensus analysts rating.
P/E Forward = 4.2141
P/S = 0.3427
P/B = 0.6586
P/EG = 0.8262
Revenue TTM = 9.00b EUR
EBIT TTM = -29.0m EUR
EBITDA TTM = 284.7m EUR
Long Term Debt = 1.01b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.09b EUR (from shortTermDebt, last quarter)
Debt = 2.49b EUR (from shortLongTermDebtTotal, last quarter) + Leases 176.9m
Net Debt = 1.09b EUR (calculated: Debt 2.49b - CCE 1.40b)
Enterprise Value = 4.17b EUR (3.08b + Debt 2.49b - CCE 1.40b)
Interest Coverage Ratio = -0.23 (Ebit TTM -29.0m / Interest Expense TTM 128.7m)
EV/FCF = -8.39x (Enterprise Value 4.17b / FCF TTM -497.4m)
FCF Yield = -11.92% (FCF TTM -497.4m / Enterprise Value 4.17b)
FCF Margin = -5.53% (FCF TTM -497.4m / Revenue TTM 9.00b)
Net Margin = 0.47% (Net Income TTM 42.0m / Revenue TTM 9.00b)
Gross Margin = 22.79% ((Revenue TTM 9.00b - Cost of Revenue TTM 6.95b) / Revenue TTM)
Gross Margin QoQ = 11.90% (prev 8.65%)
Tobins Q-Ratio = 0.39 (Enterprise Value 4.17b / Total Assets 10.8b)
Interest Expense / Debt = 5.17% (Interest Expense 128.7m / Debt 2.49b)
Taxrate = 14.06% (13.4m / 95.3m)
NOPAT = -24.9m (EBIT -29.0m * (1 - 14.06%)) [loss with tax shield]
Current Ratio = 1.74 (Total Current Assets 5.72b / Total Current Liabilities 3.29b)
Debt / Equity = 0.55 (Debt 2.49b / totalStockholderEquity, last quarter 4.56b)
Debt / EBITDA = 3.83 (Net Debt 1.09b / EBITDA 284.7m)
Debt / FCF = -2.19 (negative FCF - burning cash) (Net Debt 1.09b / FCF TTM -497.4m)
Total Stockholder Equity = 4.44b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.40% (Net Income 42.0m / Total Assets 10.8b)
RoE = 0.95% (Net Income TTM 42.0m / Total Stockholder Equity 4.44b)
RoCE = -0.53% (EBIT -29.0m / Capital Employed (Equity 4.44b + L.T.Debt 1.01b))
RoIC = -0.34% (negative operating profit) (NOPAT -24.9m / Invested Capital 7.23b)
WACC = 7.54% (E(3.08b)/V(5.57b) * Re(10.04%) + D(2.49b)/V(5.57b) * Rd(5.17%) * (1-Tc(0.14)))
Discount Rate = 10.04% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 16.71 | Cagr: 0.0%
[DCF] Fair Price = unknown (Cash Flow -497.4m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.18 | # QB: 0
Revenue Correlation: -98.68 | Revenue CAGR: -9.04% | SUE: 0.55 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.30 | Chg30d=-24.82% | Revisions=-20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.61 | Chg30d=N/A | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=6.02 | Chg30d=+122.93% | Revisions=+33% | GrowthEPS=+634.5% | GrowthRev=+4.2%
EPS next Year (2027-12-31): EPS=6.26 | Chg30d=+18.84% | Revisions=+14% | GrowthEPS=+4.0% | GrowthRev=+7.3%
[Analyst] Revisions Ratio: +33%