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Acerinox SA (ANIOY)
OTHER OTC:ANIOY
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Acerinox SA
(OTC:ANIOY)
Rating:72Outperform
Price Target:
$6.50
▲(9.24%Upside)
Acerinox SA (ANIOY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.88B
Dividend Yield6.42%
Average Volume (3M)600.00
Price to Earnings (P/E)13.0
Beta (1Y)1.05
Revenue Growth-2.44%
EPS Growth43.14%
CountryUS
Employees9,344
SectorBasic Materials
Sector Strength67
IndustrySteel
Share Statistics
EPS (TTM)-0.07
Shares Outstanding498,670,750
10 Day Avg. Volume944
30 Day Avg. Volume600
Financial Highlights & Ratios
PEG Ratio-0.77
Price to Book (P/B)1.11
Price to Sales (P/S)0.00
P/FCF Ratio52.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Acerinox SA Business Overview & Revenue Model
Company DescriptionAcerinox SA (ANIOY) is a leading global manufacturer of stainless steel, operating primarily in the metals and mining sector. The company is involved in the production of a wide range of stainless steel products, including flat products such as sheets and coils, as well as long products like bars and wires. Acerinox operates several manufacturing facilities across different continents, ensuring a strong international presence and a diverse customer base, which includes industries such as automotive, construction, and consumer goods.
How the Company Makes MoneyAcerinox SA generates revenue through the production and sale of stainless steel products. The company's primary revenue stream comes from selling flat and long stainless steel products to various industries worldwide. Acerinox's extensive manufacturing capabilities and global distribution network allow it to efficiently supply high-quality stainless steel to meet diverse market demands. Additionally, the company benefits from strategic partnerships and joint ventures, which enhance its production capacities and broaden its market reach. Factors such as global steel demand, raw material costs, and economic conditions in key markets significantly impact Acerinox's earnings.
Acerinox SA Earnings Call Summary
Earnings Call Date:Jul 24, 2025
(Q1-2025)
| % Change Since: -5.85%|
Next Earnings Date:Oct 31, 2025
Earnings Call Sentiment Neutral
Acerinox demonstrated strong financial resilience through cash flow generation and strategic geographical diversification. However, challenges persist with market weaknesses in Europe, increased net debt, and ongoing trade uncertainties. The strong order book and production growth provide a positive outlook, but market volatility and geopolitical factors continue to pose risks.Q1-2025 Updates
Positive Updates
Strong Cash Flow Generation
Acerinox generated EUR 99 million of cash flow in Q1 2025, despite a 29% increase in production and a reduction of working capital by EUR 6 million.
EBITDA Resilience
The company achieved an EBITDA of EUR 102 million, demonstrating resilience in a challenging business climate, with a 12% increase from the previous quarter's operating EBITDA.
Production Growth
Group production increased by 29% compared to the previous quarter, with a notable 80% increase in European production.
Geographical Diversification
Acerinox's strategic advantage lies in its geographical diversification, producing in three continents, which helps mitigate exposure to regional recessions.
Order Book Strength
The company's order book is solid and has been improving from January to March, with expectations of better performance in Q2.
Eco Acerinox Product Launch
Successful market penetration of Eco Acerinox, the first stainless steel covering all three scopes of greenhouse gas emissions, appreciated by over 40 customers.
Negative Updates
European Market Weakness
Still no demand reactivation in Europe, with prices remaining extremely low and increased imports affecting the market.
Net Debt Increase
Net debt increased slightly by EUR 75 million due to the acquisition of Haynes International, strong CapEx, and conversion differences.
Chemical Process Industry Challenges
Uncertainties in the market are postponing capital investment decisions in the chemical process industries.
Inventory Valuation Impact
The company faced a negative inventory impact of EUR 24 million in the quarter.
Tariff and Trade Uncertainties
Tariffs and geopolitical uncertainties are affecting strategic planning and market stability, particularly in the U.S. and Europe.
Company Guidance
During the Acerinox First Quarter 2025 Conference Call, the company provided a detailed guidance on their financial performance and strategic outlook. The EBITDA for Q1 2025 was reported at EUR 102 million, showcasing the company's resilience amidst market volatility. The quarter also saw a 29% increase in production compared to the previous quarter, with notable activity in Europe, which experienced an almost 80% surge. Despite challenges, the company generated EUR 99 million in cash flow, reduced working capital by EUR 6 million, and maintained a net debt of EUR 1.2 billion, which saw a slight increase due to a strong CapEx of EUR 57 million and other financial movements. The geographical diversification of production across three continents is seen as a strategic advantage, helping Acerinox mitigate regional economic fluctuations. Looking ahead, the company expressed optimism for Q2, anticipating higher EBITDA than Q1, driven by a solid order book, particularly in the U.S. market, where stability in prices and low inventory levels are expected to support ongoing growth.Acerinox SA Financial Statement Overview
Summary
Acerinox SA showed mixed financial results with improved gross profit margins but challenges in revenue and profit growth. The balance sheet reflects stable financial health with moderate leverage, yet cash flow management indicates potential difficulties in generating free cash flow.Income Statement
Acerinox SA's income statement shows fluctuating revenues, with a recent decline from 2023 to 2024. The gross profit margin improved from 20.79% in 2023 to 34.37% in 2024, indicating enhanced efficiency in production or cost management. The net profit margin decreased slightly to 4.16% in 2024 from 3.45% in 2023, showing a need to improve profitability. EBIT and EBITDA margins in 2024 are 6.43% and 11.26%, respectively, indicating moderate operational efficiency.72
Positive
Balance Sheet
The balance sheet reflects a stable financial position with a relatively high debt-to-equity ratio of 0.94 in 2024, suggesting moderate leverage. Return on equity was modest, with a slight decline from 9.47% in 2023 to 8.90% in 2024, indicating less effective use of equity to generate profit. The equity ratio remained consistent around 39.06% in 2024, showing a balanced capital structure.65
Positive
Cash Flow
Cash flow analysis reveals fluctuating free cash flow, with a significant drop in free cash flow growth rate from 2023 to 2024. The operating cash flow to net income ratio of 1.31 in 2024 suggests adequate cash generation relative to net income. However, the free cash flow to net income ratio decreased to 0.40, indicating less free cash flow available for reinvestment or dividends.68
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.41B | 6.61B | 8.69B | 6.71B | 4.67B |
| Gross Profit | 1.86B | 2.18B | 3.08B | 2.43B | 1.50B |
| EBITDA | 609.63M | 627.52M | 1.09B | 994.38M | 359.23M |
| Net Income | 224.95M | 228.13M | 556.05M | 571.88M | 49.05M |
Balance Sheet | |||||
| Total Assets | 6.47B | 6.10B | 6.32B | 5.98B | 4.73B |
| Cash, Cash Equivalents and Short-Term Investments | 1.35B | 1.80B | 1.56B | 1.29B | 939.78M |
| Total Debt | 2.38B | 2.15B | 1.99B | 1.85B | 1.69B |
| Total Liabilities | 3.89B | 3.64B | 3.77B | 3.77B | 3.12B |
| Stockholders Equity | 2.53B | 2.41B | 2.47B | 2.16B | 1.57B |
Cash Flow | |||||
| Free Cash Flow | 88.89M | 306.58M | 407.37M | 285.67M | 319.11M |
| Operating Cash Flow | 293.67M | 481.48M | 544.08M | 387.81M | 420.55M |
| Investing Cash Flow | -896.46M | -174.70M | -125.50M | -90.44M | -372.48M |
| Financing Cash Flow | -36.03M | -5.57M | -216.03M | 10.31M | 67.50M |
Acerinox SA Technical Analysis
Neutral
5.95
Price Trends
6.07
Negative
5.88
Positive
5.39
Positive
Market Momentum
0.03
Positive
42.49
Neutral
18.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANIOY, the sentiment is Neutral. The current price of 5.95 is below the 20-day moving average (MA) of 6.22, below the 50-day MA of 6.07, and above the 200-day MA of 5.39, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 42.49 is Neutral, neither overbought nor oversold. The STOCH value of 18.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ANIOY.
Acerinox SA Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $5.99B | 10.93 | 5.86% | 1.31% | -9.33% | -51.03% | |
72 Outperform | $2.88B | 12.96 | 9.22% | 6.42% | -2.44% | 43.14% | |
71 Outperform | $5.81B | 174.77 | 0.88% | 1.39% | -5.64% | -93.26% | |
63 Neutral | $10.49B | 10.77 | 1.52% | 2.68% | 2.24% | -33.79% | |
61 Neutral | $6.17B | 73.52 | -2.75% | 8.49% | -10.20% | -152.18% | |
51 Neutral | $2.04B | ― | -16.28% | 8.02% | -9.84% | -14783.33% |
* Basic Materials Sector Average
Performance Comparison
ANIOY
Acerinox SA
5.95
0.88
17.36%
CMC
Commercial Metals Company
53.32
-6.17
-10.37%
GGB
Gerdau SA
3.05
-0.08
-2.56%
SID
Companhia Siderúrgica Nacional
1.53
-0.50
-24.63%
TX
Ternium SA
31.80
-1.24
-3.75%
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.