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SSAB Corporation
(SSAB.A)
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Rating:69Neutral
Price Target:
kr106.00
▲(5.53% Upside)
Action:Reiterated
Date:07/23/26
The score is driven primarily by solid financial stability (low leverage and continued profitability) but tempered by weak free-cash-flow conversion. Technicals are supportive with a clear uptrend versus moving averages and positive MACD, while valuation appears fair-to-middling (P/E ~18 and ~2.1% yield).
Positive Factors
Conservative Balance Sheet
Low leverage and a large equity base give SSAB structural financial resilience through steel-cycle downturns. A debt-to-equity around 0.16 reduces interest burden and preserves capacity to fund working capital or capex without forcing distressed asset sales, supporting multi‑month stability.
Negative Factors
Weak Free Cash Flow Conversion
Despite strong operating cash, free cash flow is roughly zero to slightly negative after investment and working‑capital needs, signaling that capex or inventory dynamics absorb cash. Persistent weak conversion would force greater reliance on balance sheet capacity or external financing and limit capital returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Low leverage and a large equity base give SSAB structural financial resilience through steel-cycle downturns. A debt-to-equity around 0.16 reduces interest burden and preserves capacity to fund working capital or capex without forcing distressed asset sales, supporting multi‑month stability.
Read all positive factors
SSAB Corporation (SSAB.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr104.00B
Dividend Yield1.87%
Average Volume (3M)1.34M
Price to Earnings (P/E)19.1
Beta (1Y)1.26
Revenue Growth-1.26%
EPS Growth24.28%
CountrySE
Employees14,696
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)5.63
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
kr102.50Price Target Upside2.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)7.48
Revenue Forecast (FY)kr104.48B
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
72
Positive
Balance Sheet
80
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.89B | 96.22B | 103.45B | 119.49B | 124.98B | 95.89B |
| Gross Profit | 13.72B | 9.94B | 14.52B | 22.55B | -2.12B | 23.47B |
| EBITDA | 11.64B | 10.02B | 13.29B | 21.26B | 32.62B | 22.21B |
| Net Income | 5.61B | 4.90B | 6.52B | 13.03B | -10.88B | 14.66B |
Balance Sheet | ||||||
| Total Assets | 111.61B | 106.13B | 110.73B | 107.84B | 109.71B | 112.02B |
| Cash, Cash Equivalents and Short-Term Investments | 19.66B | 22.77B | 27.81B | 28.92B | 24.90B | 13.80B |
| Total Debt | 10.86B | 11.34B | 10.15B | 10.62B | 10.68B | 12.51B |
| Total Liabilities | 40.76B | 38.31B | 39.71B | 39.89B | 42.52B | 38.51B |
| Stockholders Equity | 70.81B | 67.78B | 70.97B | 67.87B | 67.12B | 73.48B |
Cash Flow | ||||||
| Free Cash Flow | -26.00M | -3.45B | 3.68B | 14.91B | 13.21B | 11.49B |
| Operating Cash Flow | 12.17B | 10.08B | 11.90B | 21.47B | 18.16B | 14.87B |
| Investing Cash Flow | -10.60B | -10.74B | -6.61B | -5.29B | -3.89B | -2.27B |
| Financing Cash Flow | -2.19B | -3.00B | -5.20B | -12.77B | -723.00M | -5.03B |
SSAB Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr31.03B | 16.93 | 12.72% | 4.87% | -5.26% | -10.87% | |
69 Neutral | kr104.00B | 19.13 | 8.10% | 1.99% | -1.26% | 24.28% | |
67 Neutral | kr153.20B | 11.82 | 16.31% | 2.29% | 13.43% | 52.37% | |
66 Neutral | kr104.00B | 19.13 | 8.10% | 3.80% | -1.26% | 24.28% | |
64 Neutral | kr28.88B | 32.23 | ― | 2.85% | -6.76% | -19.29% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | kr595.93M | -10.84 | -4.77% | ― | -8.92% | 91.90% |
* General Sector Average
SE:SSAB.A
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SSAB Corporation Corporate Events
SSAB lifts Q2 earnings and presses ahead with strategic steel investments
Jul 22, 2026
SSAB reported a solid second quarter of 2026, with revenue rising to SEK 27.5 billion and operating profit increasing to SEK 2.7 billion, driven by higher prices and shipments. Earnings per share improved, cash generation remained strong despite a...
Moody’s Grants SSAB First‑Ever Baa2 Investment Grade Rating
Jul 20, 2026
SSAB has received its inaugural credit rating from Moody’s, which assigned the company a Baa2 investment grade long‑term issuer rating with a stable outlook, underscoring its strong financial profile and conservative approach. The rati...
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...
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.