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Acerinox S.A.

Acerinox S.A.

ACX.VI
Acerinox S.A.AT flagVienna Stock Exchange
16.48
EUR
+0.16
- -
4.11BMarket Cap
Acerinox S.A.
ACX.VI
(Vienna Stock Exchange)

Recent

price

16.48

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
18.05
18.74
18.27
15.68
16.9
15.99
14.65
16.76
18.15
17.41
17.26
24.8
33.73
26.51
21.71
23.19
28.13
Revenue per Share
0.47
0.3
-0.09
0.09
0.53
0.16
0.3
0.85
0.86
-0.22
0.18
2.11
2.16
0.92
0.9
-0.16
-0.08
Basic EPS, GAAP
0.53
1.03
1.66
0.37
-0.11
-0.2
0.39
0.65
0.65
0.78
1.18
1.06
1.58
1.23
0.36
0.58
1.57
Free Cash Flow per Basic Share
0.35
0.35
0.35
0.19
0.22
0.18
0.1
0.45
0.45
0.3
0.4
0.5
0.5
0.6
0.62
0.62
0.62
Dividend per Share
0.64
0.55
0.16
0.34
0.78
0.42
0.55
1.1
1.11
0.03
0.43
2.36
2.41
1.17
1.15
0.09
- -
Book Value per Share
7.4
7.24
6.57
5.84
6.82
7.36
7.74
6.88
7.42
7.05
5.6
7.83
9.52
9.51
9.06
7.28
8.55
Tangible Book Value per Share
249
249
249
253
259
264
271
276
276
273
271
270
258
249
249
249
250
Basic Weighted Avg Shares
4,500
4,672
4,555
3,966
4,380
4,221
3,968
4,627
5,011
4,754
4,668
6,706
8,688
6,608
5,413
5,781
7,029
Sales/Revenue/Turnover
5.16
4.24
1.02
2.22
6.69
2.86
4.02
7
6.36
4.04
4.58
11.96
12.37
8.43
3.84
2.75
0.53
Operating Margin (%)
148
147
148
135
150
164
170
170
166
175
179
179
193
171
160
195
98
Depreciation Expense
117
74
-22
22
136
43
80
234
237
-60
49
572
556
228
225
-40
-20
Net Income, GAAP
39.09
50.09
- -
71.11
49.67
65.77
47.37
25.89
30.57
395.49
67.6
23.54
31.38
38.94
37.16
160.37
36.29
Effective Tax Rate (%)
2.61
1.58
-0.48
0.56
3.11
1.02
2.02
5.06
4.73
-1.25
1.05
8.53
6.4
3.45
4.16
-0.69
-0.29
Profit Margin (%)
680
618
583
344
865
701
1,002
972
1,212
1,249
1,372
1,949
2,469
2,419
2,176
1,524
1,471
Working Capital
725
707
895
751
1,020
741
937
937
1,026
1,052
1,410
1,368
1,394
1,291
1,464
1,322
1,281
LT Debt
1,924
1,881
1,713
1,553
1,846
2,023
2,169
1,970
2,119
1,929
1,615
2,215
2,548
2,463
2,575
2,098
2,136
Total Equity
4.69
3.25
- -
0.9
4.93
1.28
2.53
7.21
6.49
-16.4
2.07
16.41
16.85
7.34
2.7
-2.05
0.53
Return on Invested Capital (%)
11.87
7.93
- -
3.95
11.95
5.03
8.15
17.98
16.75
-9.52
4.27
26.94
22.34
11.66
11.66
-3.34
0.83
Return on Capital (%)
- -
49.78
-24.67
34.78
94.64
27.55
62.05
103.49
77.83
-37.9
78.62
151.25
88.23
50.06
77.87
-25.89
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
971
837
858
LT Borrowings
1,450
1,322
1,281
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
249
249
249
Market Capitalization
2,789
3,154
3,004

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
3,777
3,238
3,299
Cash, Cash Equivalents & STI
1,227
977
889
Accounts Receivable, Net
593
472
552
Inventories
1,861
1,679
1,777
Total Current Liabilities
1,939
1,714
1,828
Payables & Accruals
- -
- -
- -
ST Debt
971
837
858
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.52%
6.97%
-18.54%
Free Cash Flow
-16.2%
0.05%
63.9%
Net Income, GAAP
85.75%
177%
-117.81%
Sales/Revenue/Turnover
4.99%
7.59%
6.79%
Total Cash Common Dividend
- -
7.9%
0.02%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,481
1,300
1,307
2,632
5,413
2025
1,551
1,507
1,415
2,723
5,781
2026
1,384
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.21
- -
0.19
0.44
0.9
2025
0.04
- -
0.1
-0.09
-0.16
2026
0.02
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.31
- -
0.31
- -
0.62
2025
0.31
- -
0.31
- -
0.62
2026
0.31
- -
- -
- -
- -
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Business
Acerinox, S.A. (ACX.VI) manufactures, processes, and markets stainless steel products and high-performance alloys worldwide through its Stainless Steel and High-Performance Alloys segments; core offerings encompass flat products such as hot- and cold-rolled coils and sheets, strips, flat bars, discs, engraved coils and sheets, black coils, slabs, circles, billets, and plates, alongside long products including wire and hexagonal wire rods, peeled bars, hot- and cold-rolled reinforcement coils and bars, black bars, profiles, angles, steel profiles, stainless steel wires, color-coated and reinforcement wires, cold-drawn finish bars, centreless ground finish bars, hot-rolled reinforcement coils, hot-rolled flat bars, welding consumables, springs, general-purpose and prestressed profiles; stainless steel grades feature austenitic, ferritic, duplex, and martensitic varieties, plus wire stainless steels for welding materials; the High-Performance Alloys division via subsidiaries VDM Metals and Haynes International supplies specialized alloys for aerospace, industrial, and additive manufacturing applications. Founded in 1970 and headquartered in Madrid, Spain, the company operates 15 factories across three continents, including integrated flat product plants at Acerinox Europa (Spain), North American Stainless (USA), and Columbus Stainless (South Africa), long product plants Roldan and Inoxfil (Spain), and 10 high-performance alloy centers in the USA and Germany, with sales in over 80 countries spanning Europe, the Americas, Africa, Asia, and Oceania serving sectors like automotive, construction, appliances, and energy. Recent strategic developments include the 2024 acquisition of Haynes International for USD 799 million to bolster its US high-performance alloys platform with planned USD 200 million investments over four years for capacity expansion and synergies; divestiture of the unprofitable Bahru Stainless plant in Malaysia to Worldwide Stainless Sdn. Bhd. for USD 95 million in December 2024 amid Asian market oversupply; EUR 67 million investments in VDM Metals for a powder atomizer enhancing additive manufacturing sales by 15%; implementation of the 2024-2026 Beyond Excellence program targeting EUR 100 million EBITDA uplift through digital transformation and operational efficiencies, achieving EUR 41 million savings in 2024; new organizational model and IV Collective Bargaining Agreement at Acerinox Europa post-strike to prioritize high-value products; USD 244 million expansion at North American Stainless to boost flat product capacity by 20%; and launch of sustainable EcoACX stainless steel with over 50% CO2 reduction using 100% renewable energy and 90% recycled content, alongside an advanced 2030 Decarbonization Plan targeting 45.3% Scope 1 and 2 emissions cuts.