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SSAB Corporation
(SSAB.A)
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Rating:62Neutral
Price Target:
kr106.00
▲(25.09% Upside)
Action:Reiterated
Date:04/30/26
The score is driven by mixed fundamentals: a strong balance sheet and still-positive profitability are offset by a clear cyclical downturn (falling revenue, compressed margins) and currently negative free cash flow. Technicals are supportive with the stock trading above key moving averages and positive MACD, but valuation is a major headwind due to the high P/E despite a moderate dividend yield.
Positive Factors
Conservative balance sheet
Sub-0.2x debt/equity gives SSAB durable financial flexibility in a cyclical steel industry. Low leverage supports managing downturn-driven working-capital swings, funds necessary maintenance capex, and preserves capacity for strategic investments or dividend continuity without urgent refinancing risk.
Negative Factors
Sharp revenue contraction
A near-20% TTM revenue decline reflects a clear cyclical downshift in demand. Reduced scale undermines fixed-cost absorption, pricing leverage and bargaining power with suppliers, and prolongs recovery time; until demand normalizes, top-line weakness will pressure long-term margin recovery and investment returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Sub-0.2x debt/equity gives SSAB durable financial flexibility in a cyclical steel industry. Low leverage supports managing downturn-driven working-capital swings, funds necessary maintenance capex, and preserves capacity for strategic investments or dividend continuity without urgent refinancing risk.
Read all positive factors
SSAB Corporation (SSAB.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr99.68B
Dividend Yield3.75%
Average Volume (3M)1.34M
Price to Earnings (P/E)18.4
Beta (1Y)1.29
Revenue Growth-5.66%
EPS Growth5.97%
CountrySE
Employees14,624
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)5.40
Shares Outstanding295,966,340
10 Day Avg. Volume1,299,246
30 Day Avg. Volume1,339,300
Financial Highlights & Ratios
PEG Ratio-0.57
Price to Book (P/B)1.02
Price to Sales (P/S)0.72
P/FCF Ratio-20.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr96.00Price Target Upside13.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)7.61
Revenue Forecast (FY)kr103.50B
SSAB Corporation Business Overview & Revenue Model
Company Description
SSAB AB (publ) engages in the production and sale of steel products in Sweden, Finland, Germany, Poland, Denmark, Asia, the Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe...
How the Company Makes Money
SSAB primarily makes money by manufacturing and selling steel products to industrial and distribution customers. Its core revenue comes from (1) sales of value-added steel products—particularly higher-margin, high-strength and specialty steels sol...
SSAB Corporation Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
78
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 96.03B | 96.22B | 103.45B | 119.49B | 124.98B | 95.89B |
| Gross Profit | 13.17B | 9.94B | 14.52B | 22.55B | -2.12B | 23.47B |
| EBITDA | 11.05B | 10.02B | 13.29B | 21.26B | 32.62B | 22.21B |
| Net Income | 5.38B | 4.90B | 6.52B | 13.03B | -10.88B | 14.66B |
Balance Sheet | ||||||
| Total Assets | 108.50B | 106.13B | 110.73B | 107.84B | 109.71B | 112.02B |
| Cash, Cash Equivalents and Short-Term Investments | 21.18B | 22.77B | 27.81B | 28.92B | 24.90B | 13.80B |
| Total Debt | 11.54B | 11.34B | 10.15B | 10.62B | 10.68B | 12.51B |
| Total Liabilities | 38.39B | 38.31B | 39.71B | 39.89B | 42.52B | 38.51B |
| Stockholders Equity | 70.08B | 67.78B | 70.97B | 67.87B | 67.12B | 73.48B |
Cash Flow | ||||||
| Free Cash Flow | -3.28B | -3.45B | 3.68B | 14.91B | 13.21B | 11.49B |
| Operating Cash Flow | 11.22B | 10.08B | 11.90B | 21.47B | 18.16B | 14.87B |
| Investing Cash Flow | -11.59B | -10.74B | -6.61B | -5.29B | -3.89B | -2.27B |
| Financing Cash Flow | -1.90B | -3.00B | -5.20B | -12.77B | -723.00M | -5.03B |
SSAB Corporation Technical Analysis
Positive
84.74
Price Trends
93.30
Positive
84.37
Positive
75.43
Positive
Market Momentum
1.66
Negative
65.82
Neutral
90.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SSAB.A, the sentiment is Positive. The current price of 84.74 is below the 20-day moving average (MA) of 94.32, below the 50-day MA of 93.30, and above the 200-day MA of 75.43, indicating a bullish trend. The MACD of 1.66 indicates Negative momentum. The RSI at 65.82 is Neutral, neither overbought nor oversold. The STOCH value of 90.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SSAB.A.
SSAB Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | kr25.68B | 13.86 | 13.67% | 4.87% | -8.75% | -14.76% | |
70 Outperform | kr145.92B | 12.98 | 13.04% | ― | 9.10% | -4.02% | |
63 Neutral | kr24.83B | 45.91 | ― | 2.85% | -6.76% | -19.29% | |
62 Neutral | kr99.68B | 18.39 | 7.29% | 3.75% | -5.66% | 5.97% | |
58 Neutral | kr99.68B | 18.39 | 7.23% | 3.80% | -5.66% | 5.97% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | kr539.45M | -0.71 | -50.84% | ― | -8.92% | 91.90% |
* General Sector Average
SE:SSAB.A
SSAB Corporation
99.78
39.64
65.92%
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SE:SSAB.B
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99.32
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68.65%
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SSAB Corporation Corporate Events
SSAB Schedules Webcast for Q2 2026 Results Briefing
Jul 8, 2026
SSAB AB will present its second‑quarter 2026 financial results on July 22, 2026, with a webcast briefing scheduled for 9:30 a.m. CEST following publication of the report earlier that morning. The presentation, led by President and CEO Johnny...
SSAB Restarts Oxelösund Power Line Work, Targets 2027 EAF Launch
Jun 2, 2026
SSAB said construction of the power line to its new electric arc furnace in Oxelösund will resume after all appeals related to species protection were withdrawn, clearing a key obstacle to the project. The company now expects production in th...
SSAB to invest SEK 3.3bn in new Oxelösund quenching line for premium steels
May 18, 2026
SSAB will invest SEK 3.3 billion over four years in a new quenching and tempering line at its Oxelösund site to expand capacity for advanced wear and protection steels such as Hardox 500Tuf and Armox. The line, scheduled to start production i...
SSAB’s Oxelösund Fossil-Free Conversion Delayed by Species Protection Appeals
May 11, 2026
SSAB’s plan to convert its Oxelösund mill in Sweden to fossil-free production has been delayed because of appeals related to species protection, which are holding up permits for the power line needed to connect a new electric arc furnac...
SSAB AGM Approves Dividend, New Incentive Plan and Share Buyback Mandate
Apr 28, 2026
SSAB’s 2026 annual general meeting in Stockholm approved a dividend of SEK 2.00 per share, adopted the 2025 financial statements and granted discharge from liability to the board and CEO, signaling confidence in the company’s recent pe...
SSAB Lifts Q1 Profit on Stronger European and U.S. Steel Operations
Apr 28, 2026
SSAB reported first-quarter 2026 revenue of SEK 25.3 billion, broadly flat year on year, while operating profit rose to SEK 2.2 billion on stronger performance in its Europe and Americas divisions. Earnings per share improved to SEK 1.61, net cash...
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.