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Salzgitter
(XETRA:SZG)
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Rating:54Neutral
Price Target:
€59.00
▲(10.69% Upside)
Action:Reiterated
Date:08/27/26
The score is held down primarily by weak financial quality—especially negative free cash flow and thin profitability despite a modest TTM rebound—plus an expensive P/E. These are partially offset by strong technical strength (price above key moving averages with positive momentum) and a very high dividend yield.
Positive Factors
Manageable Leverage
Meaningful equity support and manageable leverage provide a useful buffer against steel-cycle volatility. Although debt-to-equity has risen from its 2023 low, the current capital structure remains moderately solid and should preserve financial flexibility.
Negative Factors
Contracting Revenue
Multi-year revenue contraction signals weaker demand, shipments, pricing, or mix across the steel business. Persistent top-line pressure can reduce operating leverage and make it harder to absorb fixed costs, limiting the durability of any earnings recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Meaningful equity support and manageable leverage provide a useful buffer against steel-cycle volatility. Although debt-to-equity has risen from its 2023 low, the current capital structure remains moderately solid and should preserve financial flexibility.
Read all positive factors
Salzgitter (SZG) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€3.63B
Dividend Yield0.33%
Average Volume (3M)166.46K
Price to Earnings (P/E)56.4
Beta (1Y)1.72
Revenue Growth-5.60%
EPS GrowthN/A
CountryDE
Employees23,538
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)1.07
Shares Outstanding60,097,000
10 Day Avg. Volume187,885
30 Day Avg. Volume166,457
Financial Highlights & Ratios
PEG Ratio0.37
Price to Book (P/B)0.49
Price to Sales (P/S)0.24
P/FCF Ratio-3.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€64.60Price Target Upside21.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)4.41
Revenue Forecast (FY)€9.74B
Salzgitter Business Overview & Revenue Model
Company Description
Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. The company operates through four segments: Steel Production, Steel Processing, Trading, and Technology. Its Steel Production segment manufactures...
How the Company Makes Money
Salzgitter AG generates revenue mainly by selling steel and steel-related products and services across its operating activities. A core revenue stream comes from producing and selling steel products (e.g., flat and long products) to industrial end...
Salzgitter Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.90B | 8.98B | 10.01B | 10.79B | 12.55B | 9.77B |
| Gross Profit | 1.55B | 457.10M | 448.40M | 3.37B | 4.16B | 3.54B |
| EBITDA | 419.80M | 45.00M | -68.60M | 624.00M | 1.44B | 1.12B |
| Net Income | 57.10M | -74.20M | -352.20M | 200.10M | 1.08B | 581.10M |
Balance Sheet | ||||||
| Total Assets | 10.85B | 10.48B | 10.47B | 10.50B | 11.10B | 10.25B |
| Cash, Cash Equivalents and Short-Term Investments | 1.20B | 1.06B | 1.00B | 939.70M | 988.40M | 791.50M |
| Total Debt | 2.33B | 2.22B | 1.76B | 1.30B | 1.70B | 1.51B |
| Total Liabilities | 6.31B | 6.05B | 6.02B | 5.67B | 6.25B | 6.90B |
| Stockholders Equity | 4.54B | 4.43B | 4.44B | 4.83B | 4.84B | 3.35B |
Cash Flow | ||||||
| Free Cash Flow | -553.20M | -653.90M | -659.90M | 140.20M | 154.00M | -14.00M |
| Operating Cash Flow | 407.70M | 416.40M | 408.40M | 892.00M | 596.50M | 329.40M |
| Investing Cash Flow | -367.80M | -692.80M | -677.40M | -430.50M | -367.70M | -366.60M |
| Financing Cash Flow | 402.10M | 363.40M | 331.90M | -498.30M | 11.30M | 146.30M |
Salzgitter Technical Analysis
Positive
53.30
Price Trends
52.75
Positive
53.49
Positive
48.76
Positive
Market Momentum
1.49
Negative
64.66
Neutral
71.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:SZG, the sentiment is Positive. The current price of 53.3 is below the 20-day moving average (MA) of 53.95, above the 50-day MA of 52.75, and above the 200-day MA of 48.76, indicating a bullish trend. The MACD of 1.49 indicates Negative momentum. The RSI at 64.66 is Neutral, neither overbought nor oversold. The STOCH value of 71.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:SZG.
Salzgitter Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | €1.17B | 31.57 | 6.80% | 1.34% | 19.45% | -38.43% | |
57 Neutral | €321.87M | 12.58 | 4.13% | 2.95% | -0.34% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €3.63B | 56.40 | 1.27% | 0.33% | -5.60% | ― | |
54 Neutral | €500.06M | -13.93 | -7.70% | 0.81% | -15.97% | 74.49% | |
46 Neutral | €1.28B | -4.05 | -19.84% | 1.56% | -1.67% | -103.70% |
* General Sector Average
DE:SZG
Salzgitter
60.35
38.04
170.48%
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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.