(APAM) Aperam - Ratings and Ratios
Stainless Steel, Electrical Steel, Specialty Alloys, Metal Recycling
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 6.06% |
| Yield on Cost 5y | 8.51% |
| Yield CAGR 5y | 3.39% |
| Payout Consistency | 72.0% |
| Payout Ratio | 76.3% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 33.0% |
| Value at Risk 5%th | 47.0% |
| Relative Tail Risk | -13.34% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.84 |
| Alpha | 22.24 |
| CAGR/Max DD | 0.37 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.420 |
| Beta | 0.332 |
| Beta Downside | 0.756 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.33% |
| Mean DD | 17.69% |
| Median DD | 18.20% |
Description: APAM Aperam November 11, 2025
Aperam S.A. (ticker APAM) manufactures and sells stainless steel and specialty alloys through four operating segments: Stainless & Electrical Steel, Services & Solutions, Alloys & Specialties, and Recycling & Renewables. The firm produces a broad product slate-including grain-oriented and non-grain-oriented electrical steel, cold-rolled strips, wire rods, bars, and plates-while also offering transformation services that add value through customization and direct sales channels.
The company’s downstream footprint spans aerospace, automotive, construction, medical, and oil-and-gas customers, delivered via a network of steel service centers, transformation facilities, and sales offices worldwide. Its Recycling & Renewables segment operates the “Recyco” electric-arc furnace, which recycles dust, sludge, and metal scrap into primary stainless-steel feedstock, and it generates wood and charcoal from eucalyptus plantations to diversify revenue.
Key quantitative signals (as of FY 2023) include an EBITDA margin of roughly 10 % and a capacity utilization rate near 85 % at its primary European plants-both metrics that are highly sensitive to electricity pricing and the CRU stainless-steel price index. The recycling stream now supplies about 30 % of the company’s raw-material input, mitigating exposure to volatile nickel and chromium markets, while the ongoing shift toward low-carbon steel in automotive and construction sectors remains a primary growth driver.
For a deeper quantitative assessment of Aperam’s valuation metrics and scenario analysis, see the detailed profile on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income (-8.00m TTM) > 0 and > 6% of Revenue (6% = 371.6m TTM) |
| FCFTA 0.05 (>2.0%) and ΔFCFTA 1.22pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 16.45% (prev 19.59%; Δ -3.14pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.08 (>3.0%) and CFO 430.0m > Net Income -8.00m (YES >=105%, WARN >=100%) |
| Net Debt (443.0m) to EBITDA (345.0m) ratio: 1.28 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.92 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (NaN) change vs 12m ago NaN% (target <= -2.0% for YES) |
| Gross Margin 98.95% (prev 76.80%; Δ 22.15pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 120.5% (prev 127.3%; Δ -6.76pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.13 (EBITDA TTM 345.0m / Interest Expense TTM 47.0m) >= 6 (WARN >= 3) |
Altman Z'' 4.65
| (A) 0.19 = (Total Current Assets 2.13b - Total Current Liabilities 1.11b) / Total Assets 5.30b |
| (B) 0.55 = Retained Earnings (Balance) 2.91b / Total Assets 5.30b |
| (C) 0.02 = EBIT TTM 100.0m / Avg Total Assets 5.14b |
| (D) 1.39 = Book Value of Equity 2.91b / Total Liabilities 2.09b |
| Total Rating: 4.65 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 49.30
| 1. Piotroski 6.0pt |
| 2. FCF Yield 10.80% |
| 3. FCF Margin 4.54% |
| 4. Debt/Equity 0.21 |
| 5. Debt/Ebitda 1.28 |
| 6. ROIC - WACC (= -3.78)% |
| 7. RoE -0.25% |
| 8. Rev. Trend -50.50% |
| 9. EPS Trend -61.96% |
What is the price of APAM shares?
Over the past week, the price has changed by +5.39%, over one month by +3.29%, over three months by +29.99% and over the past year by +32.37%.
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 | -5.2% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 38.3 | 16.2% |
APAM Fundamental Data Overview November 26, 2025
Market Cap EUR = 2.26b (2.26b EUR * 1.0 EUR.EUR)
P/E Forward = 8.2919
P/S = 0.3726
P/B = 0.7107
P/EG = 0.85
Beta = 1.591
Revenue TTM = 6.19b EUR
EBIT TTM = 100.0m EUR
EBITDA TTM = 345.0m EUR
Long Term Debt = 434.0m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 225.0m EUR (from shortLongTermDebt, last fiscal year)
Debt = 659.0m EUR (Calculated: Short Term 225.0m + Long Term 434.0m)
Net Debt = 443.0m EUR (from netDebt column, last fiscal year)
Enterprise Value = 2.60b EUR (2.26b + Debt 659.0m - CCE 320.0m)
Interest Coverage Ratio = 2.13 (Ebit TTM 100.0m / Interest Expense TTM 47.0m)
FCF Yield = 10.80% (FCF TTM 281.0m / Enterprise Value 2.60b)
FCF Margin = 4.54% (FCF TTM 281.0m / Revenue TTM 6.19b)
Net Margin = -0.13% (Net Income TTM -8.00m / Revenue TTM 6.19b)
Gross Margin = 98.95% ((Revenue TTM 6.19b - Cost of Revenue TTM 65.0m) / Revenue TTM)
Gross Margin QoQ = 95.39% (prev 100.0%)
Tobins Q-Ratio = 0.49 (Enterprise Value 2.60b / Total Assets 5.30b)
Interest Expense / Debt = 7.13% (Interest Expense 47.0m / Debt 659.0m)
Taxrate = -40.0% (negative due to tax credits) (6.00m / -15.0m)
NOPAT = 140.0m (EBIT 100.0m * (1 - -40.00%)) [negative tax rate / tax credits]
Current Ratio = 1.92 (Total Current Assets 2.13b / Total Current Liabilities 1.11b)
Debt / Equity = 0.21 (Debt 659.0m / totalStockholderEquity, last quarter 3.19b)
Debt / EBITDA = 1.28 (Net Debt 443.0m / EBITDA 345.0m)
Debt / FCF = 1.58 (Net Debt 443.0m / FCF TTM 281.0m)
Total Stockholder Equity = 3.26b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.15% (Net Income -8.00m / Total Assets 5.30b)
RoE = -0.25% (Net Income TTM -8.00m / Total Stockholder Equity 3.26b)
RoCE = 2.70% (EBIT 100.0m / Capital Employed (Equity 3.26b + L.T.Debt 434.0m))
RoIC = 4.08% (NOPAT 140.0m / Invested Capital 3.43b)
WACC = 7.86% (E(2.26b)/V(2.92b) * Re(7.24%) + D(659.0m)/V(2.92b) * Rd(7.13%) * (1-Tc(-0.40)))
Discount Rate = 7.24% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -33.33 | Cagr: -3.31%
[DCF Debug] Terminal Value 75.04% ; FCFE base≈249.8m ; Y1≈205.0m ; Y5≈146.4m
Fair Price DCF = 37.38 (DCF Value 2.70b / Shares Outstanding 72.3m; 5y FCF grow -21.59% → 3.0% )
EPS Correlation: -61.96 | EPS CAGR: -50.04% | SUE: -0.68 | # QB: 0
Revenue Correlation: -50.50 | Revenue CAGR: 0.27% | SUE: -1.14 | # QB: 0