APERAM (APAM.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:APAM • LU0569974404

37.16 EUR
+0.8 (+2.2%)
Last: Feb 3, 2026, 07:00 PM
Fundamental Rating

4

Taking everything into account, APAM scores 4 out of 10 in our fundamental rating. APAM was compared to 44 industry peers in the Metals & Mining industry. The financial health of APAM is average, but there are quite some concerns on its profitability. APAM does not seem to be growing, but still is valued expensively. Finally APAM also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • In the past year APAM was profitable.
  • APAM had a positive operating cash flow in the past year.
  • In the past 5 years APAM has always been profitable.
  • APAM had a positive operating cash flow in each of the past 5 years.
APAM.AS Yearly Net Income VS EBIT VS OCF VS FCFAPAM.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

1.2 Ratios

  • APAM has a Return On Assets of 2.89%. This is comparable to the rest of the industry: APAM outperforms 50.00% of its industry peers.
  • The Return On Equity of APAM (4.79%) is comparable to the rest of the industry.
  • The Return On Invested Capital of APAM (2.31%) is worse than 63.64% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for APAM is in line with the industry average of 7.77%.
Industry RankSector Rank
ROA 2.89%
ROE 4.79%
ROIC 2.31%
ROA(3y)5.98%
ROA(5y)7.74%
ROE(3y)10.42%
ROE(5y)14.41%
ROIC(3y)6.14%
ROIC(5y)8.79%
APAM.AS Yearly ROA, ROE, ROICAPAM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

  • APAM has a Profit Margin (1.64%) which is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of APAM has remained more or less at the same level.
  • APAM has a worse Operating Margin (1.38%) than 70.45% of its industry peers.
  • APAM's Operating Margin has declined in the last couple of years.
  • APAM has a worse Gross Margin (4.81%) than 86.36% of its industry peers.
  • In the last couple of years the Gross Margin of APAM has declined.
Industry RankSector Rank
OM 1.38%
PM (TTM) 1.64%
GM 4.81%
OM growth 3Y-55.15%
OM growth 5Y-15.91%
PM growth 3Y-42.05%
PM growth 5Y1.13%
GM growth 3Y-35.26%
GM growth 5Y-5.22%
APAM.AS Yearly Profit, Operating, Gross MarginsAPAM.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

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5

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), APAM is destroying value.
  • APAM has about the same amout of shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, APAM has less shares outstanding
  • APAM has a better debt/assets ratio than last year.
APAM.AS Yearly Shares OutstandingAPAM.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
APAM.AS Yearly Total Debt VS Total AssetsAPAM.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

  • APAM has a debt to FCF ratio of 5.04. This is a neutral value as APAM would need 5.04 years to pay back of all of its debts.
  • APAM has a better Debt to FCF ratio (5.04) than 61.36% of its industry peers.
  • A Debt/Equity ratio of 0.22 indicates that APAM is not too dependend on debt financing.
  • With a Debt to Equity ratio value of 0.22, APAM perfoms like the industry average, outperforming 54.55% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 5.04
Altman-Z N/A
ROIC/WACC0.27
WACC8.62%
APAM.AS Yearly LT Debt VS Equity VS FCFAPAM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

  • A Current Ratio of 1.92 indicates that APAM should not have too much problems paying its short term obligations.
  • APAM has a Current ratio (1.92) which is in line with its industry peers.
  • A Quick Ratio of 1.92 indicates that APAM should not have too much problems paying its short term obligations.
  • APAM's Quick ratio of 1.92 is fine compared to the rest of the industry. APAM outperforms 79.55% of its industry peers.
Industry RankSector Rank
Current Ratio 1.92
Quick Ratio 1.92
APAM.AS Yearly Current Assets VS Current LiabilitesAPAM.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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3

3. Growth

3.1 Past

  • APAM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -94.46%.
  • Measured over the past years, APAM shows a quite strong growth in Earnings Per Share. The EPS has been growing by 13.01% on average per year.
  • APAM shows a decrease in Revenue. In the last year, the revenue decreased by -5.11%.
  • APAM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.09% yearly.
EPS 1Y (TTM)-94.46%
EPS 3Y-33.06%
EPS 5Y13.01%
EPS Q2Q%-111.48%
Revenue 1Y (TTM)-5.11%
Revenue growth 3Y7.03%
Revenue growth 5Y8.09%
Sales Q2Q%-5.56%

3.2 Future

  • Based on estimates for the next years, APAM will show a small growth in Earnings Per Share. The EPS will grow by 7.03% on average per year.
  • APAM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.46% yearly.
EPS Next Y-87.34%
EPS Next 2Y-9.64%
EPS Next 3Y7.03%
EPS Next 5YN/A
Revenue Next Year-1.85%
Revenue Next 2Y2.69%
Revenue Next 3Y3.9%
Revenue Next 5Y4.46%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
APAM.AS Yearly Revenue VS EstimatesAPAM.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B
APAM.AS Yearly EPS VS EstimatesAPAM.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6 8 10

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3

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 168.91 indicates a quite expensive valuation of APAM.
  • Based on the Price/Earnings ratio, APAM is valued a bit more expensive than the industry average as 65.91% of the companies are valued more cheaply.
  • The average S&P500 Price/Earnings ratio is at 28.18. APAM is valued rather expensively when compared to this.
  • APAM is valuated correctly with a Price/Forward Earnings ratio of 14.36.
  • The rest of the industry has a similar Price/Forward Earnings ratio as APAM.
  • APAM is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 25.51, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 168.91
Fwd PE 14.36
APAM.AS Price Earnings VS Forward Price EarningsAPAM.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of APAM is on the same level as its industry peers.
  • APAM's Price/Free Cash Flow ratio is rather cheap when compared to the industry. APAM is cheaper than 95.45% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.03
EV/EBITDA 10.76
APAM.AS Per share dataAPAM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)12.99
EPS Next 2Y-9.64%
EPS Next 3Y7.03%

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7

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 4.69%, APAM is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 1.63, APAM pays a better dividend. On top of this APAM pays more dividend than 90.91% of the companies listed in the same industry.
  • APAM's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 4.69%

5.2 History

  • The dividend of APAM has a limited annual growth rate of 2.91%.
Dividend Growth(5Y)2.91%
Div Incr Years0
Div Non Decr Years5
APAM.AS Yearly Dividends per shareAPAM.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

  • APAM pays out 94.77% of its income as dividend. This is not a sustainable payout ratio.
  • APAM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP94.77%
EPS Next 2Y-9.64%
EPS Next 3Y7.03%
APAM.AS Yearly Income VS Free CF VS DividendAPAM.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
APAM.AS Dividend Payout.APAM.AS Dividend Payout, showing the Payout Ratio.APAM.AS Dividend Payout.PayoutRetained Earnings

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APERAM

AMS:APAM (2/3/2026, 7:00:00 PM)

37.16

+0.8 (+2.2%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-07
Earnings (Next)02-06
Inst Owners25.33%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.72B
Revenue(TTM)9.34B
Net Income(TTM)153.00M
Analysts74.12
Price Target34.22 (-7.91%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.69%
Yearly Dividend2.01
Dividend Growth(5Y)2.91%
DP94.77%
Div Incr Years0
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1440.72%
Min EPS beat(2)-2845.1%
Max EPS beat(2)-36.34%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-9.71%
Min Revenue beat(2)-11.76%
Max Revenue beat(2)-7.65%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1.05%
PT rev (3m)9%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)1.53%
EPS NY rev (3m)-63.73%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.7%
Valuation
Industry RankSector Rank
PE 168.91
Fwd PE 14.36
P/S 0.29
P/FCF 10.03
P/OCF 6.32
P/B 0.85
P/tB 1.01
EV/EBITDA 10.76
EPS(TTM)0.22
EY0.59%
EPS(NY)2.59
Fwd EY6.97%
FCF(TTM)3.7
FCFY9.97%
OCF(TTM)5.88
OCFY15.81%
SpS127.69
BVpS43.65
TBVpS36.66
PEG (NY)N/A
PEG (5Y)12.99
Graham Number14.7
Profitability
Industry RankSector Rank
ROA 2.89%
ROE 4.79%
ROCE 3.08%
ROIC 2.31%
ROICexc 2.31%
ROICexgc 2.63%
OM 1.38%
PM (TTM) 1.64%
GM 4.81%
FCFM 2.9%
ROA(3y)5.98%
ROA(5y)7.74%
ROE(3y)10.42%
ROE(5y)14.41%
ROIC(3y)6.14%
ROIC(5y)8.79%
ROICexc(3y)6.78%
ROICexc(5y)9.89%
ROICexgc(3y)7.62%
ROICexgc(5y)11.24%
ROCE(3y)8.43%
ROCE(5y)12.21%
ROICexgc growth 3Y-53.63%
ROICexgc growth 5Y-17.16%
ROICexc growth 3Y-53.4%
ROICexc growth 5Y-15.86%
OM growth 3Y-55.15%
OM growth 5Y-15.91%
PM growth 3Y-42.05%
PM growth 5Y1.13%
GM growth 3Y-35.26%
GM growth 5Y-5.22%
F-Score4
Asset Turnover1.76
Health
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 5.04
Debt/EBITDA 1.84
Cap/Depr 64.9%
Cap/Sales 1.7%
Interest Coverage 2.39
Cash Conversion 114.97%
Profit Quality 177.12%
Current Ratio 1.92
Quick Ratio 1.92
Altman-Z N/A
F-Score4
WACC8.62%
ROIC/WACC0.27
Cap/Depr(3y)126.72%
Cap/Depr(5y)112.28%
Cap/Sales(3y)3.63%
Cap/Sales(5y)3.37%
Profit Quality(3y)62.49%
Profit Quality(5y)67.89%
High Growth Momentum
Growth
EPS 1Y (TTM)-94.46%
EPS 3Y-33.06%
EPS 5Y13.01%
EPS Q2Q%-111.48%
EPS Next Y-87.34%
EPS Next 2Y-9.64%
EPS Next 3Y7.03%
EPS Next 5YN/A
Revenue 1Y (TTM)-5.11%
Revenue growth 3Y7.03%
Revenue growth 5Y8.09%
Sales Q2Q%-5.56%
Revenue Next Year-1.85%
Revenue Next 2Y2.69%
Revenue Next 3Y3.9%
Revenue Next 5Y4.46%
EBIT growth 1Y44.94%
EBIT growth 3Y-51.99%
EBIT growth 5Y-9.11%
EBIT Next Year190.45%
EBIT Next 3Y76.98%
EBIT Next 5Y40.67%
FCF growth 1Y1494.12%
FCF growth 3Y-34.08%
FCF growth 5Y-14.47%
OCF growth 1Y18.78%
OCF growth 3Y-20.15%
OCF growth 5Y-6.89%

APERAM / APAM.AS FAQ

What is the fundamental rating for APAM stock?

ChartMill assigns a fundamental rating of 4 / 10 to APAM.AS.


What is the valuation status of APERAM (APAM.AS) stock?

ChartMill assigns a valuation rating of 3 / 10 to APERAM (APAM.AS). This can be considered as Overvalued.


What is the profitability of APAM stock?

APERAM (APAM.AS) has a profitability rating of 3 / 10.


Can you provide the PE and PB ratios for APAM stock?

The Price/Earnings (PE) ratio for APERAM (APAM.AS) is 168.91 and the Price/Book (PB) ratio is 0.85.


Can you provide the financial health for APAM stock?

The financial health rating of APERAM (APAM.AS) is 5 / 10.