Acerinox, S.A.

BME:ACX Stock Report

Market Cap: €4.5b

Acerinox Future Growth

Future criteria checks 5/6

Acerinox is forecast to grow earnings and revenue by 34.3% and 33% per annum respectively. EPS is expected to grow by 35.7% per annum. Return on equity is forecast to be 17.7% in 3 years.

Key information

34.3%

Earnings growth rate

35.70%

EPS growth rate

Metals and Mining earnings growth19.1%
Revenue growth rate33.0%
Future return on equity17.65%
Analyst coverage

Good

Last updated24 Jul 2026

Recent future growth updates

Analysis Article • May 13

Here's What Analysts Are Forecasting For Acerinox, S.A. (BME:ACX) After Its First-Quarter Results

Shareholders might have noticed that Acerinox, S.A. ( BME:ACX ) filed its first-quarter result this time last week. The...

Recent updates

Analysis Article • May 13

Here's What Analysts Are Forecasting For Acerinox, S.A. (BME:ACX) After Its First-Quarter Results

Shareholders might have noticed that Acerinox, S.A. ( BME:ACX ) filed its first-quarter result this time last week. The...
Narrative Update • Mar 10

ACX: Rising Revenue Assumptions Will Test Execution Risks And Support Upside Potential

The analyst price target for Acerinox has been nudged higher to €14.38 from €14.24, as analysts factor in updated assumptions on revenue growth, margins and valuation that accompany recent price target revisions from major firms. Analyst Commentary Recent research updates on Acerinox show a mix of cautious and more constructive views, with price targets moved higher but ratings still reflecting differing expectations on execution and valuation risk.
Narrative Update • Feb 23

ACX: Mixed Rating Shifts Will Test Earnings Resilience And Fairly Valued Outlook

Analysts have nudged their Acerinox price target slightly higher to €14.24, reflecting fine tuning of discount rate and P/E assumptions following mixed recent research that included both a downgrade and a small €1 upward revision from the Street. Analyst Commentary Recent commentary around Acerinox reflects a split view, with one firm such as JPMorgan turning more cautious while others fine tune their models and lift fair value estimates.
Analysis Article • Feb 16

Here's Why Acerinox (BME:ACX) Has A Meaningful Debt Burden

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Narrative Update • Feb 08

ACX: Mixed Rating Shifts Will Test Margin Resilience And Fairly Valued Outlook

The analyst price target on Acerinox has been adjusted slightly, with fair value moving from €14.28 to €14.24 as analysts factor in updated assumptions on growth, profitability and P/E multiples following recent mixed research that includes both target increases and reductions. Analyst Commentary Recent research on Acerinox reflects a mix of optimism and caution, which helps explain why the consolidated fair value estimate is only slightly lower at €14.24.
Narrative Update • Jan 23

ACX: Margin Resilience And Cost Control Will Guide Balanced Fairly Valued Outlook

Analysts have increased Acerinox's fair value estimate to €14.28 from €13.92, reflecting recent Street price target revisions that include both small reductions and a €1 target increase at one firm. Analyst Commentary Recent research opinions on Acerinox present a mix of optimism and caution, which helps explain why the updated fair value estimate sits close to, but not far from, the range of published price targets.
Narrative Update • Jan 09

ACX: Margin Resilience And Cost Control Will Shape Balanced Medium Term Outcomes

Narrative Update on Acerinox The updated analyst price target for Acerinox edges up to about €13.92 from €13.84, as analysts factor in recent target revisions around €13.70 and €11, alongside modest tweaks to fair value, discount rate, revenue growth, profit margin and forward P/E assumptions. Analyst Commentary Recent Street commentary on Acerinox centers on modest downward revisions to published price targets, with views split between more optimistic and more cautious takes on execution and valuation risk.
Narrative Update • Dec 19

ACX: Margin Resilience And Cost Control Will Support Medium Term Upside Potential

Acerinox's analyst price target has been nudged higher to EUR 13.84 from roughly EUR 13.77, as analysts point to slightly improved fair value and profit margin expectations despite recent target trims at major banks. Analyst Commentary Recent research updates reflect a mixed but generally supportive stance on Acerinox, as modest target cuts coexist with an overall upward drift in consensus fair value estimates.
Narrative Update • Dec 05

ACX: Future Margin Stability Will Support Medium Term Shareholder Returns

The analyst price target for Acerinox has been trimmed slightly, with fair value easing from EUR 13.56 to EUR 13.77 as analysts factor in marginally higher discount rates while still acknowledging modestly improving growth and profitability metrics reflected in updated revenue growth, profit margin, and forward P E assumptions. Analyst Commentary Recent Street research reflects a more nuanced stance on Acerinox, with modest target cuts aligning valuations more closely with updated growth and execution expectations rather than signaling a fundamental change in the investment case.
Analysis Article • Nov 29

Acerinox, S.A.'s (BME:ACX) Intrinsic Value Is Potentially 45% Above Its Share Price

Key Insights Acerinox's estimated fair value is €17.62 based on 2 Stage Free Cash Flow to Equity Acerinox's €12.17...
Narrative Update • Nov 21

ACX: Improved Revenue Outlook Will Drive Future Shareholder Returns

Narrative Update on Acerinox The analyst price target for Acerinox has seen a slight increase, rising by EUR 0.06 to EUR 13.56. Analysts reflect updated forecasts for modestly higher revenue growth and stable market conditions.
Narrative Update • Nov 05

ACX: Stronger Profit Margin Will Support A Positive Earnings Outlook

Analysts have raised their price target for Acerinox from €13.31 to €13.49. This reflects modest optimism based on slight improvements in projected profit margin and future earnings multiples, despite a lowered revenue growth outlook.
Analysis Article • Oct 28

Acerinox, S.A.'s (BME:ACX) Price In Tune With Earnings

When close to half the companies in Spain have price-to-earnings ratios (or "P/E's") below 17x, you may consider...
Narrative Update • Oct 22

Analysts Revise Acerinox Price Target as Market Outlook and Valuation Expectations Shift

Acerinox's analyst price target has been revised downward from €13.39 to €13.31. This change reflects slightly lower fair value estimates as analysts moderate expectations amid increasingly conservative industry forecasts.
Narrative Update • Oct 08

Tariff Clarity And Sustainable Demand Will Shape Stainless Steel Future

The analyst price target for Acerinox has been revised upward from €13.04 to €13.39. Analysts cite updated forecasts for revenue growth and discount rate, while also noting recent mixed target adjustments from major banks.
Analysis Article • Jul 27

Results: Acerinox, S.A. Delivered A Surprise Loss And Now Analysts Have New Forecasts

Shareholders might have noticed that Acerinox, S.A. ( BME:ACX ) filed its half-year result this time last week. The...
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New Narrative • Feb 09

Haynes Acquisition And Europa Plant Revamp Will Boost Future Market Expansion

Completion of the Haynes acquisition and Bahru Stainless sale are poised to enhance future revenue, EBITDA, and net earnings through market expansion and accounting gains.

Earnings and Revenue Growth Forecasts

BME:ACX - Analysts future estimates and past financials data (EUR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20287,32944746367811
12/31/20276,98337736763612
12/31/20266,451255953705
6/30/2026N/A5418351N/A
3/31/20265,618-4565390N/A
12/31/20255,785-40146455N/A
9/30/20255,8017099390N/A
6/30/20255,69393-76176N/A
3/31/20255,486182-21205N/A
12/31/20245,41622589294N/A
9/30/20245,62542292463N/A
6/30/20245,86965667824N/A
3/31/20246,315145521688N/A
12/31/20236,616228307481N/A
9/30/20236,799163552738N/A
6/30/20237,421225205391N/A
3/31/20238,211426293451N/A
12/31/20228,716556407544N/A
9/30/20228,935940118231N/A
6/30/20228,464978260357N/A
3/31/20227,554760344439N/A
12/31/20216,708572286388N/A
9/30/20215,989391347438N/A
6/30/20215,406250352453N/A
3/31/20214,95399373480N/A
12/31/20204,67149319421N/A
9/30/20204,551-142181308N/A
6/30/20204,651-127200330N/A
3/31/20204,718-65N/AN/AN/A
12/31/20194,761-60N/A359N/A
9/30/20194,818129N/A387N/A
6/30/20194,880168N/A299N/A
3/31/20194,977212N/AN/AN/A
12/31/20185,029237N/A326N/A
9/30/20185,005298N/A295N/A
6/30/20184,789221N/A430N/A
3/31/20184,645194N/AN/AN/A
12/31/20174,644234N/A366N/A
9/30/20174,571193N/A343N/A
6/30/20174,509222N/A181N/A
3/31/20174,274187N/A301N/A
12/31/20163,97580N/A269N/A
9/30/20163,83932N/A244N/A
6/30/20163,828-12N/A315N/A
3/31/20164,0494N/A263N/A
12/31/20154,24043N/A17N/A
9/30/20154,41758N/AN/AN/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACX's forecast earnings growth (34.3% per year) is above the savings rate (2.7%).

Earnings vs Market: ACX's earnings (34.3% per year) are forecast to grow faster than the Spanish market (10.8% per year).

High Growth Earnings: ACX's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ACX's revenue (33% per year) is forecast to grow faster than the Spanish market (7.2% per year).

High Growth Revenue: ACX's revenue (33% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ACX's Return on Equity is forecast to be low in 3 years time (17.7%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/26 18:41
End of Day Share Price 2026/07/24 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Acerinox, S.A. is covered by 27 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullBanco de Sabadell. S.A.
Robert JacksonBanco Santander
Alessandro AbateBerenberg