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APERAM (APAM.AS) Stock Fundamental Analysis

AMS:APAM - Euronext Amsterdam - LU0569974404 - Common Stock - Currency: EUR

31.94  -0.4 (-1.24%)

Fundamental Rating

3

Overall APAM gets a fundamental rating of 3 out of 10. We evaluated APAM against 37 industry peers in the Metals & Mining industry. APAM may be in some trouble as it scores bad on both profitability and health. APAM is valued correctly, but it does not seem to be growing. Finally APAM also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year APAM was profitable.
APAM had a positive operating cash flow in the past year.
Of the past 5 years APAM 4 years were profitable.
Of the past 5 years APAM 4 years had a positive operating cash flow.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

1.2 Ratios

Looking at the Return On Assets, with a value of 1.11%, APAM is in line with its industry, outperforming 48.65% of the companies in the same industry.
APAM's Return On Equity of 2.07% is in line compared to the rest of the industry. APAM outperforms 51.35% of its industry peers.
Industry RankSector Rank
ROA 1.11%
ROE 2.07%
ROIC N/A
ROA(3y)10.12%
ROA(5y)7.65%
ROE(3y)19.08%
ROE(5y)14.26%
ROIC(3y)N/A
ROIC(5y)N/A
APAM.AS Yearly ROA, ROE, ROICAPAM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

1.3 Margins

APAM has a Profit Margin of 1.06%. This is comparable to the rest of the industry: APAM outperforms 48.65% of its industry peers.
In the last couple of years the Profit Margin of APAM has declined.
APAM's Operating Margin has declined in the last couple of years.
The Gross Margin of APAM (4.22%) is worse than 78.38% of its industry peers.
In the last couple of years the Gross Margin of APAM has declined.
Industry RankSector Rank
OM N/A
PM (TTM) 1.06%
GM 4.22%
OM growth 3Y-37.77%
OM growth 5Y-29.44%
PM growth 3Y-13.93%
PM growth 5Y-12.82%
GM growth 3Y-17.57%
GM growth 5Y-13.98%
APAM.AS Yearly Profit, Operating, Gross MarginsAPAM.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

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3

2. Health

2.1 Basic Checks

APAM does not have a ROIC to compare to the WACC, probably because it is not profitable.
APAM has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
APAM.AS Yearly Shares OutstandingAPAM.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
APAM.AS Yearly Total Debt VS Total AssetsAPAM.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

2.2 Solvency

An Altman-Z score of 2.41 indicates that APAM is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.41, APAM is in the better half of the industry, outperforming 70.27% of the companies in the same industry.
APAM has a debt to FCF ratio of 17.04. This is a negative value and a sign of low solvency as APAM would need 17.04 years to pay back of all of its debts.
The Debt to FCF ratio of APAM (17.04) is comparable to the rest of the industry.
APAM has a Debt/Equity ratio of 0.25. This is a healthy value indicating a solid balance between debt and equity.
APAM has a Debt to Equity ratio (0.25) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.25
Debt/FCF 17.04
Altman-Z 2.41
ROIC/WACCN/A
WACC8.79%
APAM.AS Yearly LT Debt VS Equity VS FCFAPAM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.3 Liquidity

APAM has a Current Ratio of 1.63. This is a normal value and indicates that APAM is financially healthy and should not expect problems in meeting its short term obligations.
APAM has a Current ratio (1.63) which is in line with its industry peers.
A Quick Ratio of 0.47 indicates that APAM may have some problems paying its short term obligations.
APAM has a worse Quick ratio (0.47) than 83.78% of its industry peers.
Industry RankSector Rank
Current Ratio 1.63
Quick Ratio 0.47
APAM.AS Yearly Current Assets VS Current LiabilitesAPAM.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

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3

3. Growth

3.1 Past

APAM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.34%, which is quite good.
The Earnings Per Share has been growing by 13.03% on average over the past years. This is quite good.
EPS 1Y (TTM)13.34%
EPS 3Y-33.04%
EPS 5Y13.03%
EPS Q2Q%-81.94%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-2.54%

3.2 Future

APAM is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.00% yearly.
APAM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.13% yearly.
EPS Next Y-10.26%
EPS Next 2Y12.59%
EPS Next 3Y12%
EPS Next 5YN/A
Revenue Next Year3.31%
Revenue Next 2Y5.82%
Revenue Next 3Y5.13%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
APAM.AS Yearly Revenue VS EstimatesAPAM.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B 8B
APAM.AS Yearly EPS VS EstimatesAPAM.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6 8 10

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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 10.08, the valuation of APAM can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of APAM indicates a rather cheap valuation: APAM is cheaper than 86.49% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 29.35. APAM is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 11.22, which indicates a very decent valuation of APAM.
Based on the Price/Forward Earnings ratio, APAM is valued a bit cheaper than 62.16% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.10. APAM is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 10.08
Fwd PE 11.22
APAM.AS Price Earnings VS Forward Price EarningsAPAM.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, APAM is valued a bit more expensive than the industry average as 72.97% of the companies are valued more cheaply.
The rest of the industry has a similar Price/Free Cash Flow ratio as APAM.
Industry RankSector Rank
P/FCF 44.95
EV/EBITDA 14.18
APAM.AS Per share dataAPAM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.77
EPS Next 2Y12.59%
EPS Next 3Y12%

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7

5. Dividend

5.1 Amount

APAM has a Yearly Dividend Yield of 5.26%, which is a nice return.
APAM's Dividend Yield is rather good when compared to the industry average which is at 3.77. APAM pays more dividend than 89.19% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.33, APAM pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.26%

5.2 History

The dividend of APAM has a limited annual growth rate of 5.45%.
Dividend Growth(5Y)5.45%
Div Incr Years0
Div Non Decr Years4
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 217.91% 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.
DP217.91%
EPS Next 2Y12.59%
EPS Next 3Y12%
APAM.AS Yearly Income VS Free CF VS DividendAPAM.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 (3/7/2025, 7:00:00 PM)

31.94

-0.4 (-1.24%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-07 2025-02-07/bmo
Earnings (Next)04-30 2025-04-30
Inst Owners22.15%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.34B
Analysts73.75
Price Target32.09 (0.47%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.26%
Yearly Dividend2.01
Dividend Growth(5Y)5.45%
DP217.91%
Div Incr Years0
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-81.28%
Min EPS beat(2)-354.9%
Max EPS beat(2)192.34%
EPS beat(4)2
Avg EPS beat(4)174.03%
Min EPS beat(4)-354.9%
Max EPS beat(4)1029.46%
EPS beat(8)3
Avg EPS beat(8)82.42%
EPS beat(12)6
Avg EPS beat(12)59.09%
EPS beat(16)10
Avg EPS beat(16)62.4%
Revenue beat(2)0
Avg Revenue beat(2)-9.56%
Min Revenue beat(2)-14.9%
Max Revenue beat(2)-4.22%
Revenue beat(4)1
Avg Revenue beat(4)-5.12%
Min Revenue beat(4)-14.9%
Max Revenue beat(4)1.11%
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)-0.33%
PT rev (3m)-0.75%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)19.34%
EPS NY rev (3m)185.67%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-0.06%
Revenue NY rev (3m)-2.04%
Valuation
Industry RankSector Rank
PE 10.08
Fwd PE 11.22
P/S 0.37
P/FCF 44.95
P/OCF 6.77
P/B 0.72
P/tB 0.84
EV/EBITDA 14.18
EPS(TTM)3.17
EY9.92%
EPS(NY)2.85
Fwd EY8.92%
FCF(TTM)0.71
FCFY2.22%
OCF(TTM)4.71
OCFY14.76%
SpS86.16
BVpS44.21
TBVpS38.25
PEG (NY)N/A
PEG (5Y)0.77
Profitability
Industry RankSector Rank
ROA 1.11%
ROE 2.07%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 1.06%
GM 4.22%
FCFM 0.82%
ROA(3y)10.12%
ROA(5y)7.65%
ROE(3y)19.08%
ROE(5y)14.26%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)16.98%
ROCE(5y)12.93%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-37.77%
OM growth 5Y-29.44%
PM growth 3Y-13.93%
PM growth 5Y-12.82%
GM growth 3Y-17.57%
GM growth 5Y-13.98%
F-Score4
Asset Turnover1.05
Health
Industry RankSector Rank
Debt/Equity 0.25
Debt/FCF 17.04
Debt/EBITDA 4.13
Cap/Depr 131.39%
Cap/Sales 4.65%
Interest Coverage N/A
Cash Conversion 178.76%
Profit Quality 77.61%
Current Ratio 1.63
Quick Ratio 0.47
Altman-Z 2.41
F-Score4
WACC8.79%
ROIC/WACCN/A
Cap/Depr(3y)137.74%
Cap/Depr(5y)117.92%
Cap/Sales(3y)3.73%
Cap/Sales(5y)3.55%
Profit Quality(3y)59.74%
Profit Quality(5y)91.67%
High Growth Momentum
Growth
EPS 1Y (TTM)13.34%
EPS 3Y-33.04%
EPS 5Y13.03%
EPS Q2Q%-81.94%
EPS Next Y-10.26%
EPS Next 2Y12.59%
EPS Next 3Y12%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-2.54%
Revenue Next Year3.31%
Revenue Next 2Y5.82%
Revenue Next 3Y5.13%
Revenue Next 5YN/A
EBIT growth 1Y-107.44%
EBIT growth 3Y-24.03%
EBIT growth 5Y-24.43%
EBIT Next Year227.69%
EBIT Next 3Y83.48%
EBIT Next 5Y59.99%
FCF growth 1Y-83.8%
FCF growth 3Y-4.68%
FCF growth 5Y10.28%
OCF growth 1Y-30.3%
OCF growth 3Y15.84%
OCF growth 5Y9.81%