Ampco-Pittsburgh (AP) AI Stock Analysis

• Market Cap: $113.22M
• Dividend Yield: N/A
• Average Volume (3M): 56.83K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.55
• Revenue Growth: 0.20%
• EPS Growth: 88.39%
• Country: US
• Employees: 1,634
• Sector: Industrials
• Sector Strength: 72
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): -0.11
• Shares Outstanding: 20,326,390
• 10 Day Avg. Volume: 45,406
• 30 Day Avg. Volume: 56,830
• PEG Ratio: -0.94
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 0.10
• P/FCF Ratio: 7.12
• Enterprise Value/Market Cap: 2.10
• Enterprise Value/Revenue: 0.56
• Enterprise Value/Gross Profit: 2.79
• Enterprise Value/Ebitda: 7.01
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $6.00 ▲(46.70% Upside)

The score is held down primarily by weak financial performance (low profitability, high leverage, and poor cash generation). Technicals are supportive of an uptrend but appear overextended, while valuation lacks support due to negative earnings. The latest earnings call was a relative positive (EBITDA and EPS improvement and benefits from exiting the U.K. facility), but corporate event risk around the U.K. administration and impairment charge remains a meaningful overhang.

Positive Factors

Improving Adjusted EBITDA

A 35% YoY rise in consolidated adjusted EBITDA to $9.2M signals improving core operating profitability and better cost or mix management. If sustained, higher recurring EBITDA strengthens cash generation capacity, supports debt servicing, and validates operational fixes across segments.

Air & Liquid Segment Strength

Record Air & Liquid EBITDA and 31% growth demonstrate durable strength in a core, less-cyclical business line. This segment-level outperformance diversifies revenue and margin drivers, reducing reliance on cyclical forged products and improving resilience across economic cycles.

Planned CFO Succession

Announcing an internal successor who will retain operational responsibilities indicates deliberate succession planning and continuity. Internal promotion preserves institutional knowledge, lowers transition risk, and supports steady execution of financial strategy during a critical restructuring period.

Negative Factors

High Financial Leverage

A debt-to-equity ratio of 2.33 reflects elevated leverage that raises interest expense sensitivity and limits strategic flexibility. High leverage increases refinancing and solvency risk in downturns and constrains the company's ability to fund capex, acquisitions, or absorb prolonged revenue weakness.

Poor Cash Generation

Severely negative free cash flow growth and an OCF-to-net-income ratio of 0.045 indicate weak cash conversion. Persistent poor cash generation undermines self-funding, increases reliance on external financing, and hampers ability to deleverage, invest in growth, or return capital to shareholders over the medium term.

Subsidiary Administration & Impairment Risk

UES-UK entering administration and a $43–$45M non-cash impairment is a structural overhang that reduces equity and may reflect deeper operational issues in Europe. Large write-downs constrain capital, hurt credit metrics, and complicate recovery planning and investor confidence over the medium term.

Ampco-Pittsburgh Business Overview & Revenue Model

Company Description

Ampco-Pittsburgh Corporation is a diversified manufacturer specializing in engineered products and services. The company operates primarily in two sectors: the Forged and Cast Products segment and the Energy segment. Ampco-Pittsburgh produces a range of high-quality products, including forged steel and cast iron components, as well as heat exchangers and other equipment for various industrial applications, catering to markets such as energy, aerospace, and transportation.

How the Company Makes Money

Ampco-Pittsburgh generates revenue through the sale of its engineered products and services across multiple industries. Key revenue streams include the production and sale of forged and cast products, which are used in heavy machinery and equipment, and the supply of energy-related products, including heat exchangers and specialty items. The company benefits from long-term contracts with major industrial clients, providing a stable income source. Additionally, strategic partnerships with other manufacturers and suppliers enhance its market reach and operational capabilities, contributing to overall earnings.

Ampco-Pittsburgh Financial Statement Overview

Summary

Weak fundamentals: negative net margin (-1.24%), low EBIT margin (2.42%), high leverage (debt-to-equity 2.33) and negative ROE (-8.61%). Cash flow is a major concern with sharply negative free cash flow growth (-606.01%) and very low operating cash flow to net income (0.045).

Income Statement

Ampco-Pittsburgh's income statement shows a mixed performance. The TTM gross profit margin is 18.29%, indicating moderate efficiency in production. However, the net profit margin is negative at -1.24%, reflecting ongoing profitability challenges. Revenue growth is positive at 2.86% TTM, but the EBIT and EBITDA margins are relatively low at 2.42% and 7.52% respectively, suggesting limited operational efficiency.

Balance Sheet

The balance sheet reveals high leverage with a debt-to-equity ratio of 2.33 TTM, which poses a risk in terms of financial stability. The return on equity is negative at -8.61%, indicating inefficiency in generating returns from shareholders' equity. The equity ratio is not provided, but the high debt levels suggest a lower proportion of equity in the capital structure.

Cash Flow

Cash flow analysis shows significant challenges. The free cash flow growth rate is highly negative at -606.01% TTM, and the operating cash flow to net income ratio is low at 0.045, indicating weak cash generation relative to net income. The free cash flow to net income ratio is also negative, highlighting cash flow issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	426.31M	418.31M	422.34M	390.19M	344.92M	328.54M
Gross Profit	85.33M	81.50M	74.56M	62.19M	66.11M	71.03M
EBITDA	33.95M	31.42M	-12.26M	28.40M	20.48M	31.39M
Net Income	-5.30M	438.00K	-39.93M	3.42M	-3.86M	7.97M
Balance Sheet
Total Assets	524.41M	530.90M	565.65M	502.77M	505.96M	463.21M
Cash, Cash Equivalents and Short-Term Investments	14.96M	15.43M	7.29M	8.73M	10.34M	16.84M
Total Debt	139.86M	133.17M	133.42M	108.99M	64.97M	41.59M
Total Liabilities	449.85M	459.81M	494.08M	389.38M	393.83M	378.21M
Stockholders Equity	60.10M	58.88M	60.94M	104.33M	102.90M	76.56M
Cash Flow
Free Cash Flow	-4.30M	5.83M	-24.13M	-43.90M	-31.10M	25.17M
Operating Cash Flow	6.09M	18.03M	-3.69M	-27.21M	-15.87M	33.63M
Investing Cash Flow	-6.09M	-8.24M	-19.68M	-16.31M	-14.73M	-7.93M
Financing Cash Flow	2.69M	-1.35M	21.69M	42.59M	24.40M	-17.22M

Ampco-Pittsburgh Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.09
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AP, the sentiment is Positive. The current price of 4.09 is below the 20-day moving average (MA) of 5.63, below the 50-day MA of 4.31, and above the 200-day MA of 3.10, indicating a neutral trend. The MACD of 0.42 indicates Positive momentum. The RSI at 55.56 is Neutral, neither overbought nor oversold. The STOCH value of 43.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AP.

Ampco-Pittsburgh Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NWPX	78 Outperform	$648.17M	18.34	9.78%	―	7.61%	25.35%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
MEC	63 Neutral	$398.24M	34.12	5.06%	―	-12.38%	-0.71%
TG	54 Neutral	$298.49M	25.94	1.26%	―	-3.42%	―
TPCS	47 Neutral	$47.76M	-92.08	-5.10%	―	1.15%	94.58%
AP	46 Neutral	$113.22M	-21.24	-8.73%	―	0.20%	88.39%

Ampco-Pittsburgh Corporate Events

Ampco-Pittsburgh CFO Resignation and Successor Announcement

Ampco-Pittsburgh Corporation announced that Michael G. McAuley has resigned from his roles as Senior Vice President, Chief Financial Officer, Treasurer, and Assistant Secretary, effective December 31, 2025. David G. Anderson, currently the President of Air & Liquid Systems Corporation, a subsidiary of Ampco-Pittsburgh, will assume these roles starting January 1, 2026, while retaining his current position. Anderson’s compensation will be adjusted accordingly, with an increased base salary and incentive opportunities. McAuley will continue as a Strategic Advisor to the CEO until June 30, 2026, maintaining his current salary but without participating in the incentive programs.

The most recent analyst rating on (AP) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Ampco-Pittsburgh stock, see the AP Stock Forecast page.

Ampco-Pittsburgh Releases Investor Presentation Highlighting Risks

On November 18, 2025, Ampco-Pittsburgh Corporation released an investor presentation on its website, which may be shared with current and potential investors in future meetings. The presentation includes forward-looking statements about the company’s operations, market conditions, and financial metrics, highlighting the risks and uncertainties it faces, such as economic downturns, global trade conditions, and potential insolvency proceedings of its subsidiary, Union Electric Steel UK Limited.

The most recent analyst rating on (AP) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Ampco-Pittsburgh stock, see the AP Stock Forecast page.

Ampco-Pittsburgh Announces CFO Resignation and Successor

On November 5, 2025, Ampco-Pittsburgh Corporation announced the resignation of Michael G. McAuley as Senior Vice President, Chief Financial Officer, Treasurer, and Assistant Secretary, effective December 31, 2025. David G. Anderson, currently President of Air & Liquid Systems Corporation, will succeed him in these roles starting January 1, 2026, while retaining his current position. McAuley will remain as a Strategic Advisor to the CEO until June 30, 2026. This transition reflects the company’s succession planning and aims to ensure continuity in financial leadership.

The most recent analyst rating on (AP) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Ampco-Pittsburgh stock, see the AP Stock Forecast page.