(APAM) Aperam - Overview
Stock: Stainless Steel, Electrical Steel, Specialty Alloys, Metal Recycling
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 7.19% |
| Yield on Cost 5y | 7.36% |
| Yield CAGR 5y | 3.39% |
| Payout Consistency | 72.8% |
| Payout Ratio | 76.3% |
| Risk 5d forecast | |
|---|---|
| Volatility | 48.1% |
| Relative Tail Risk | -15.2% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.38 |
| Alpha | 49.31 |
| Character TTM | |
|---|---|
| Beta | 0.380 |
| Beta Downside | 0.851 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.33% |
| CAGR/Max DD | 0.34 |
Description: APAM Aperam January 14, 2026
Aperam S.A. (AS:APAM) is a Luxembourg-based producer of stainless steel and specialty alloys, operating through four segments: Stainless & Electrical Steel, Services & Solutions, Alloys & Specialties, and Recycling & Renewables.
The firm manufactures a broad product slate-including grain-oriented and non-grain-oriented electrical steel, bars, wire rods, cold-rolled strips, and plates-serving aerospace, automotive, construction, medical, and oil-and-gas customers via a global network of service centers and transformation facilities.
Beyond primary production, Aperam runs the Recyco electric-arc furnace to recycle dust, sludge, and metal scrap into stainless-steel feedstock, and it harvests wood and charcoal from its eucalyptus plantations, aligning operations with ESG and cost-efficiency goals.
Key industry metrics that affect Aperam include: (1) 2023 EBITDA margin of roughly 7 % on €3.8 bn revenue, (2) annual stainless-steel capacity of ~1.8 Mt with utilization hovering around 80 % amid tightening European supply, and (3) nickel price volatility, which can swing raw-material costs by ±15 % given nickel’s ~30 % share of input expenses.
Given the modest growth outlook for stainless steel (≈3 % CAGR globally) and rising demand for high-performance alloys in clean-energy applications, Aperam’s exposure to renewable-energy-related metal demand could be a material upside driver.
For a deeper dive into Aperam’s valuation metrics, you might find ValueRay’s analyst toolkit useful.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: -8.00m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 1.49 > 1.0 |
| NWC/Revenue: 16.45% < 20% (prev 19.59%; Δ -3.14% < -1%) |
| CFO/TA 0.08 > 3% & CFO 430.0m > Net Income -8.00m |
| Net Debt (1.04b) to EBITDA (354.0m): 2.95 < 3 |
| Current Ratio: 1.92 > 1.5 & < 3 |
| Outstanding Shares: last quarter (72.3m) vs 12m ago 0.12% < -2% |
| Gross Margin: 5.59% > 18% (prev 0.77%; Δ 481.9% > 0.5%) |
| Asset Turnover: 120.5% > 50% (prev 127.3%; Δ -6.76% > 0%) |
| Interest Coverage Ratio: 1.51 > 6 (EBITDA TTM 354.0m / Interest Expense TTM 72.0m) |
Altman Z'' 4.46
| A: 0.19 (Total Current Assets 2.13b - Total Current Liabilities 1.11b) / Total Assets 5.30b |
| B: 0.55 (Retained Earnings 2.91b / Total Assets 5.30b) |
| C: 0.02 (EBIT TTM 109.0m / Avg Total Assets 5.14b) |
| D: 1.20 (Book Value of Equity 2.51b / Total Liabilities 2.09b) |
| Altman-Z'' Score: 4.46 = AA |
Beneish M 1.00
| DSRI: 0.82 (Receivables 342.0m/429.0m, Revenue 6.19b/6.33b) |
| GMI: 13.75 (GM 5.59% / 76.80%) |
| AQI: 0.91 (AQ_t 0.18 / AQ_t-1 0.19) |
| SGI: 0.98 (Revenue 6.19b / 6.33b) |
| TATA: -0.08 (NI -8.00m - CFO 430.0m) / TA 5.30b) |
| Beneish M-Score: 8.22 (Cap -4..+1) = D |
What is the price of APAM shares?
Over the past week, the price has changed by +14.14%, over one month by +16.70%, over three months by +37.36% and over the past year by +52.93%.
Is APAM a buy, sell or hold?
What are the forecasts/targets for the APAM price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 31.3 | -24.7% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 49.7 | 19.8% |
APAM Fundamental Data Overview February 07, 2026
P/E Forward = 9.9404
P/S = 0.4844
P/B = 0.8401
P/EG = 0.85
Revenue TTM = 6.19b EUR
EBIT TTM = 109.0m EUR
EBITDA TTM = 354.0m EUR
Long Term Debt = 434.0m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 678.0m EUR (from shortTermDebt, last quarter)
Debt = 1.36b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.04b EUR (from netDebt column, last quarter)
Enterprise Value = 3.31b EUR (2.26b + Debt 1.36b - CCE 320.0m)
Interest Coverage Ratio = 1.51 (Ebit TTM 109.0m / Interest Expense TTM 72.0m)
EV/FCF = 11.21x (Enterprise Value 3.31b / FCF TTM 295.0m)
FCF Yield = 8.92% (FCF TTM 295.0m / Enterprise Value 3.31b)
FCF Margin = 4.76% (FCF TTM 295.0m / Revenue TTM 6.19b)
Net Margin = -0.13% (Net Income TTM -8.00m / Revenue TTM 6.19b)
Gross Margin = 5.59% ((Revenue TTM 6.19b - Cost of Revenue TTM 5.85b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.62 (Enterprise Value 3.31b / Total Assets 5.30b)
Interest Expense / Debt = 1.76% (Interest Expense 24.0m / Debt 1.36b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = 81.8m (EBIT 109.0m * (1 - 25.00%))
Current Ratio = 1.92 (Total Current Assets 2.13b / Total Current Liabilities 1.11b)
Debt / Equity = 0.43 (Debt 1.36b / totalStockholderEquity, last quarter 3.19b)
Debt / EBITDA = 2.95 (Net Debt 1.04b / EBITDA 354.0m)
Debt / FCF = 3.54 (Net Debt 1.04b / FCF TTM 295.0m)
Total Stockholder Equity = 3.26b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.16% (Net Income -8.00m / Total Assets 5.30b)
RoE = -0.25% (Net Income TTM -8.00m / Total Stockholder Equity 3.26b)
RoCE = 2.95% (EBIT 109.0m / Capital Employed (Equity 3.26b + L.T.Debt 434.0m))
RoIC = 2.38% (NOPAT 81.8m / Invested Capital 3.43b)
WACC = 5.06% (E(2.26b)/V(3.63b) * Re(7.32%) + D(1.36b)/V(3.63b) * Rd(1.76%) * (1-Tc(0.25)))
Discount Rate = 7.32% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.30%
[DCF Debug] Terminal Value 84.10% ; FCFF base≈258.2m ; Y1≈211.8m ; Y5≈151.0m
Fair Price DCF = 49.50 (EV 4.62b - Net Debt 1.04b = Equity 3.58b / Shares 72.3m; r=5.90% [WACC]; 5y FCF grow -21.59% → 2.90% )
EPS Correlation: -61.96 | EPS CAGR: -50.04% | SUE: -0.68 | # QB: 0
Revenue Correlation: -50.29 | Revenue CAGR: 0.27% | SUE: -1.14 | # QB: 0
EPS next Year (2026-12-31): EPS=2.42 | Chg30d=-0.568 | Revisions Net=-2 | Growth EPS=+1627.7% | Growth Revenue=+11.8%