Acx.Mc
Acerinox SA operates in the Metals & Mining industry within the Materials sector, generating revenue through industrial activities.
Business. Acerinox SA operates in the Metals & Mining industry within the Materials sector, generating revenue through industrial activities.
Analyst recommendations
17 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
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Upcoming catalysts
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Acerinox SA operates in the Metals & Mining industry within the Materials sector, generating revenue through industrial activities.
Acerinox maintains a capital structure characterized by significant leverage, with long-term debt of €2.16 billion against total equity of €2.06 billion, resulting in a debt-to-equity ratio of 1.05. The company holds €768 million in cash and equivalents, but net cash is negative after subtracting total debt, indicating a medium liquidity risk. The current ratio stands at 1.89, suggesting adequate short-term liquidity coverage despite the high debt load.
Profitability metrics are weak, with a return on equity of -1.94% and a return on assets of -0.71%, reflecting a net loss of €40.1 million on revenue of €5.78 billion. Operating income is positive at €153.1 million, but this is insufficient to cover interest and other expenses, leading to the net loss. The gross profit of €1.52 billion indicates a gross margin of approximately 26.3%, which is typical for heavy industry but insufficient to drive net profitability in the current period.
Segment and geographic data are not provided in the available source documents, preventing a detailed analysis of revenue concentration or regional exposure. The company's market capitalization is €4.33 billion, with an enterprise value-to-revenue ratio of 0.99, suggesting the market values the company at less than one year's revenue.
Growth trajectory analysis is limited due to the absence of historical period data in the input. The current free cash flow is negative at -€323.8 million, driven by capital expenditures of €309.8 million against operating cash flow of €455.5 million. This negative free cash flow highlights the capital-intensive nature of the business and the pressure on cash reserves.
Risk assessment indicates medium liquidity risk and low dilution risk, with the key flag being negative net cash after debt subtraction. The high debt-to-equity ratio of 1.05 amplifies financial risk, particularly in a rising interest rate environment or if operating cash flows decline further.
Recent observations include analyst estimates with a mean price target of €14.92 and a median of €15.03, compared to the current market price of €17.38. The mean recommendation is 2.00, with 6 strong buys and 7 buys, indicating positive analyst sentiment despite the current financial performance.
- Net loss of €40.1 million driven by high operating costs despite €153.1 million in operating income.
- High leverage with debt-to-equity ratio of 1.05 and negative net cash position.
- Negative free cash flow of -€323.8 million due to significant capital expenditures.
- Analyst sentiment is positive with a mean recommendation of 2.00, but price targets suggest downside from current levels.
- Low dilution risk but medium liquidity risk due to debt levels.
Bull / Bear case
analysis pipelineIn focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,94 |
| Revenue | —no estimate | —no estimate | 6,3B EUR |
| Operating income | —no estimate | —no estimate | 391,4M EUR |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Physical assets
3 tracked| Asset | Type | Commodity | Country | Role |
|---|---|---|---|---|
| Acerinox Columbus Stainless steel plant | Steel plant | Steel | South Africa | Parent |
| Acerinox Europa Los Barrios steel plant | Steel plant | Steel | Spain | Parent |
| North American Stainless Ghent steel plant | Steel plant | Steel | United States | Parent |
Actions
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- Market data
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- Reference data
- Cash Conversion Ratiooperating_cash_flow / net_income
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
- Market Capmarket_price * shares_outstanding_diluted
- Acerinox SA Market data — financials · 2026-08-02
- reconciler_enqueue (reconciler) on ACX.MC · 2026-08-02
- Acerinox SA Market data — analyst estimates · 2026-08-02