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Acerinox SA (ANIOY)
OTHER OTC:ANIOY
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Acerinox SA
(OTC:ANIOY)
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Rating:56Neutral
Price Target:
$6.50
▲(0.93% Upside)
Acerinox SA's overall stock score reflects a combination of mixed financial performance, challenging technical indicators, and a high valuation. The company's strategic initiatives and positive developments in North America provide some optimism, but are offset by weak demand and market pressures in Europe. The high P/E ratio and weak technical momentum are significant factors in the lower score.
Acerinox SA (ANIOY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.07B
Dividend Yield3.18%
Average Volume (3M)397.00
Price to Earnings (P/E)32.0
Beta (1Y)1.10
Revenue Growth-2.44%
EPS Growth43.14%
CountryUS
Employees9,344
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)0.06
Shares Outstanding498,670,750
10 Day Avg. Volume1,005
30 Day Avg. Volume397
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.51
Enterprise Value/Revenue0.66
Enterprise Value/Gross Profit1.14
Enterprise Value/Ebitda8.64
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Acerinox SA Business Overview & Revenue Model
Company DescriptionAcerinox, S.A., through its subsidiaries, manufactures, transforms, and markets stainless steel products in Spain, the Americas, Africa, Asia, Oceania, and Europe. The company offers flat products, including coil cold rollings, hot rolled and black coils, teardrop steel or coils, and hot and cold rolled sheets, as well as roughing materials, discs, billets, and plates. It also provides long products, which include steel and color coated wires, corrugated wires, hexagonal wire rods, bars, hot and cold rebars, decorticated bars, black bars, steel profiles, and corrugated hot rolls. The company was incorporated in 1970 and is headquartered in Madrid, Spain.
How the Company Makes MoneyAcerinox generates revenue primarily through the sale of its stainless steel products to a diversified customer base across various industries. The company's revenue model is built on both direct sales to end-users and distribution through a network of distributors and wholesalers. Key revenue streams include the production and sale of flat products, which typically account for a significant portion of its sales, as well as long products used in construction and manufacturing. Additionally, Acerinox benefits from economies of scale and strategic partnerships with suppliers and clients that enhance its market reach and operational efficiency. The company's financial performance is also influenced by fluctuations in raw material prices, particularly nickel and chromium, which are essential components in stainless steel production. Acerinox's ability to manage these costs effectively while maintaining competitive pricing is crucial for sustaining its profit margins.
Acerinox SA Earnings Call Summary
Earnings Call Date:Oct 31, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 27, 2026
Earnings Call Sentiment Neutral
Acerinox is navigating a challenging market environment with weak demand and price pressures, particularly in Europe. However, strategic investments, strong cash flow generation, and positive developments in North America provide some optimism for the future.Q3-2025 Updates
Positive Updates
Stable Cash Flow Generation
Despite challenging market conditions, Acerinox generated an operating cash flow of EUR 152 million in Q3 and EUR 299 million year-to-date, covering CapEx and dividends.
Positive Market Developments in North America
The North American Stainless Steel market showed positive signs with inventory levels below historical averages and a reduction in imports, leading to a positive price evolution.
New Trade Measures in the European Union
The European Commission released new trade measures aimed at reducing import market share by 55% for stainless steel, which is expected to improve competitiveness in the European market.
Strategic Investments in Capacity Expansion
Acerinox is increasing capacity at North American Stainless by 20% and investing in increasing VDM's production and efficiency by 15%.
Successful Integration of Haynes
The integration of Haynes is progressing well, with EUR 11 million in synergies achieved in the first year.
Negative Updates
Weak Demand and Market Uncertainty
The market continues to be affected by geopolitical conflicts and tariff uncertainties, with demand remaining weak for three consecutive years.
Price Pressures and Import Challenges in Europe
Prices in Europe are at the lowest levels of the year due to increased imports, which rose by 36%, significantly affecting profitability.
Inventory Adjustments and Depreciation Impact
Acerinox made an inventory adjustment of EUR 31 million due to weak prices, and the depreciation of the U.S. dollar impacted results.
Expected Lower Performance in Q4
Q4 is expected to be lower than Q3 due to strong seasonality in the U.S. and Germany, with continued weak demand.
Company Guidance
In the Acerinox third quarter 2025 results call, the company provided guidance indicating that the fourth quarter is expected to be lower than the third quarter, primarily due to seasonality factors. The company emphasized its focus on cost-cutting and cash generation, with a reported operating cash flow of EUR 152 million for the third quarter. The EBITDA for Q3 was EUR 108 million, slightly below Q2 due to factors like the depreciation of the U.S. dollar. Acerinox also highlighted ongoing challenges, such as geopolitical uncertainties and tariff negotiations, affecting demand and market conditions. The company is optimistic about future recovery, supported by new trade measures in the EU and the U.S., which aim to create a more competitive environment. Additionally, the company continues to implement its strategy of diversification and investment in high-performance alloys and North American Stainless. The integration of Haynes International is progressing well, with synergies expected to gradually increase. Despite current market challenges, Acerinox maintains a positive long-term outlook, driven by its strategic initiatives and market opportunities.Acerinox SA Financial Statement Overview
Summary
Acerinox SA demonstrated mixed financial results, with a strong improvement in gross profit margin but challenges in sustaining revenue and profit growth. The balance sheet reflects stable financial health with moderate leverage, but the cash flow statement indicates potential difficulties in generating free cash flow.Income Statement
Acerinox SA's income statement shows fluctuating revenues, with a recent decline from 2023 to 2024. The gross profit margin improved from 20.79% in 2023 to 34.37% in 2024, indicating enhanced efficiency in production or cost management. The net profit margin decreased slightly to 4.16% in 2024 from 3.45% in 2023, showing a need to improve profitability. EBIT and EBITDA margins in 2024 are 6.43% and 11.26%, respectively, indicating moderate operational efficiency.72
Positive
Balance Sheet
The balance sheet reflects a stable financial position with a relatively high debt-to-equity ratio of 0.94 in 2024, suggesting moderate leverage. Return on equity was modest, with a slight decline from 9.47% in 2023 to 8.90% in 2024, indicating less effective use of equity to generate profit. The equity ratio remained consistent around 39.06% in 2024, showing a balanced capital structure.65
Positive
Cash Flow
Cash flow analysis reveals fluctuating free cash flow, with a significant drop in free cash flow growth rate from 2023 to 2024. The operating cash flow to net income ratio of 1.31 in 2024 suggests adequate cash generation relative to net income. However, the free cash flow to net income ratio decreased to 0.40, indicating less free cash flow available for reinvestment or dividends.68
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.00B | 5.41B | 6.61B | 8.69B | 6.71B | 4.67B |
| Gross Profit | 4.08B | 1.86B | 2.18B | 3.08B | 2.43B | 1.50B |
| EBITDA | 537.83M | 609.63M | 627.52M | 1.09B | 994.38M | 359.23M |
| Net Income | 140.92M | 224.95M | 228.13M | 556.05M | 571.88M | 49.05M |
Balance Sheet | ||||||
| Total Assets | 6.10B | 6.47B | 6.10B | 6.32B | 5.98B | 4.73B |
| Cash, Cash Equivalents and Short-Term Investments | 1.16B | 1.35B | 1.80B | 1.56B | 1.29B | 939.78M |
| Total Debt | 2.36B | 2.38B | 2.15B | 1.99B | 1.85B | 1.69B |
| Total Liabilities | 3.90B | 3.89B | 3.64B | 3.77B | 3.77B | 3.12B |
| Stockholders Equity | 2.15B | 2.53B | 2.41B | 2.47B | 2.16B | 1.57B |
Cash Flow | ||||||
| Free Cash Flow | -82.88M | 88.89M | 306.58M | 407.37M | 285.67M | 319.11M |
| Operating Cash Flow | 175.31M | 293.67M | 481.48M | 544.08M | 387.81M | 420.55M |
| Investing Cash Flow | -874.75M | -896.46M | -174.70M | -125.50M | -90.44M | -372.48M |
| Financing Cash Flow | -63.91M | -36.03M | -5.57M | -216.03M | 10.31M | 67.50M |
Acerinox SA Technical Analysis
Neutral
6.44
Price Trends
6.60
Negative
6.36
Positive
6.00
Positive
Market Momentum
-0.02
Positive
38.51
Neutral
4.12
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANIOY, the sentiment is Neutral. The current price of 6.44 is below the 20-day moving average (MA) of 6.84, below the 50-day MA of 6.60, and above the 200-day MA of 6.00, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 38.51 is Neutral, neither overbought nor oversold. The STOCH value of 4.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ANIOY.
Acerinox SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $6.97B | 12.14 | 4.80% | 7.53% | -16.69% | 585.38% | |
71 Outperform | $6.56B | 13.17 | 5.21% | 3.07% | -2.53% | -36.08% | |
66 Neutral | $4.62B | 23.68 | 5.84% | ― | -16.81% | -67.68% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | $3.07B | 31.98 | 3.83% | 3.18% | -2.44% | 43.14% | |
55 Neutral | $2.23B | -5.50 | -15.57% | 13.99% | -10.77% | -192.16% | |
51 Neutral | $6.08B | -3.14 | -27.16% | ― | -6.76% | -255.94% |
* Basic Materials Sector Average
ANIOY
Acerinox SA
6.44
1.92
42.48%
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10.68
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GGB
Gerdau SA
3.42
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SIM
Grupo Simec SA De CV
27.90
1.11
4.14%
SID
Companhia Siderúrgica Nacional
1.64
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TX
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35.51
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12.95%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.