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Aperam S.A.
(APAM)
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Rating:59Neutral
Price Target:
€36.00
▼(-21.05% Downside)
Action:Reiterated
Date:08/04/26
The score is primarily driven by improving financial performance and solid cash generation alongside a stable balance sheet, but is held back by still-low net profitability and cyclicality risk. Technical signals are mostly neutral with limited momentum, and valuation is mixed—an attractive ~4.40% dividend yield offset by a relatively high ~25.95 P/E.
Positive Factors
TTM financial rebound
The strong TTM recovery indicates that Aperam can restore sales and profitability when steel-market conditions improve. This reinforces the company’s operating leverage and provides a stronger base for reinvestment, customer service, and earnings recovery over the next several quarters.
Negative Factors
Low net profitability
A thin bottom-line margin leaves Aperam with limited room for input-cost inflation, weaker selling prices, or demand deterioration. Even after the TTM recovery, modest earnings conversion means that relatively small changes in operating conditions can materially affect shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
TTM financial rebound
The strong TTM recovery indicates that Aperam can restore sales and profitability when steel-market conditions improve. This reinforces the company’s operating leverage and provides a stronger base for reinvestment, customer service, and earnings recovery over the next several quarters.
Read all positive factors
Aperam S.A. (APAM) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€2.52B
Dividend Yield5.64%
Average Volume (3M)129.56K
Price to Earnings (P/E)20.2
Beta (1Y)1.29
Revenue Growth-3.89%
EPS Growth-33.94%
CountryNL
Employees13,000
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)1.75
Shares Outstanding73,184,570
10 Day Avg. Volume129,924
30 Day Avg. Volume129,561
Financial Highlights & Ratios
PEG Ratio-3.05
Price to Book (P/B)0.80
Price to Sales (P/S)0.42
P/FCF Ratio8.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€54.50Price Target Upside19.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)2.49
Revenue Forecast (FY)€6.52B
Aperam S.A. Business Overview & Revenue Model
Company Description
Aperam S.A., together with its subsidiaries, produces and sells stainless steel and alloy products worldwide. The company operates through four segments: Stainless & Electrical Steel; Services & Solutions; Alloys & Specialties; and Recycling & Ren...
How the Company Makes Money
Aperam primarily makes money by producing and selling steel and alloy products, with revenue largely derived from shipments of stainless and specialty steel flat products (e.g., coils, sheets, and plates) and related value-added offerings. Its ear...
Aperam S.A. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
68
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.03B | 6.08B | 6.25B | 6.59B | 8.16B | 5.10B |
| Gross Profit | 1.62B | 341.00M | 408.00M | 379.00M | 1.18B | 1.23B |
| EBITDA | 391.00M | 250.00M | 354.00M | 366.00M | 961.00M | 1.20B |
| Net Income | 127.00M | 9.00M | 231.00M | 203.00M | 625.00M | 968.00M |
Balance Sheet | ||||||
| Total Assets | 5.43B | 6.21B | 5.84B | 6.21B | 6.26B | 5.91B |
| Cash, Cash Equivalents and Short-Term Investments | 334.00M | 325.00M | 216.00M | 443.00M | 457.00M | 524.00M |
| Total Debt | 1.33B | 1.30B | 760.00M | 934.00M | 925.00M | 990.00M |
| Total Liabilities | 2.14B | 3.00B | 2.47B | 2.76B | 2.87B | 2.96B |
| Stockholders Equity | 3.27B | 3.19B | 3.35B | 3.44B | 3.38B | 2.94B |
Cash Flow | ||||||
| Free Cash Flow | 351.00M | 285.00M | 114.00M | 170.00M | 346.00M | 398.00M |
| Operating Cash Flow | 459.00M | 422.00M | 280.00M | 471.00M | 642.00M | 550.00M |
| Investing Cash Flow | -147.00M | -589.00M | -155.00M | -303.00M | -297.00M | -183.00M |
| Financing Cash Flow | -224.00M | 279.00M | -336.00M | -152.00M | -419.00M | -197.00M |
Aperam S.A. Technical Analysis
Negative
45.60
Price Trends
42.72
Negative
44.43
Negative
42.61
Negative
Market Momentum
-2.22
Positive
23.05
Positive
11.23
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:APAM, the sentiment is Negative. The current price of 45.6 is above the 20-day moving average (MA) of 38.17, above the 50-day MA of 42.72, and above the 200-day MA of 42.61, indicating a bearish trend. The MACD of -2.22 indicates Positive momentum. The RSI at 23.05 is Positive, neither overbought nor oversold. The STOCH value of 11.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:APAM.
Aperam S.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | €10.07B | 15.45 | 13.55% | 3.36% | -5.00% | 1020.46% | |
62 Neutral | €40.75B | 25.64 | 3.31% | 1.44% | -3.37% | -31.63% | |
61 Neutral | €4.55B | 30.10 | 6.21% | 2.73% | 0.24% | 2.12% | |
59 Neutral | €2.52B | 20.25 | 3.94% | 5.64% | -3.89% | -33.94% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
43 Neutral | €891.50M | 227.99 | 0.68% | 1.64% | 11.82% | -51.11% | |
42 Neutral | €89.22M | -5.06 | -7.51% | 1.91% | 83.51% | 53.79% |
* General Sector Average
NL:APAM
Aperam S.A.
35.46
5.89
19.91%
NL:AALB
Aalberts Industries N.V.
42.14
15.20
56.40%
NL:AKZA
Akzo Nobel NV
58.86
2.65
4.72%
NL:AMG
AMG ADVANCED METALLURGICAL GROUP NV
24.46
-4.01
-14.10%
NL:MT
ArcelorMittal
54.78
21.82
66.22%
NL:SIFG
Sif Holding N.V.
2.99
-4.07
-57.72%
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.