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Vulcan Steel LimitedASX:VSL Stock Report

Market Cap AU$794.2m
Share Price
AU$5.42
AU$6.99
22.5% undervalued intrinsic discount
1Y-20.3%
7D-3.6%
1D
Portfolio Value
View

Vulcan Steel Limited

ASX:VSL Stock Report

Market Cap: AU$794.2m

VSL Community Fair Values

Create Narrative

See what 7 others think this stock is worth. Follow their fair value or set your own to get alerts.

Vulcan Steel Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for Vulcan Steel
Historical stock prices
Current Share PriceAU$5.42
52 Week HighAU$7.98
52 Week LowAU$4.93
Beta1.02
1 Month Change5.65%
3 Month Change-20.76%
1 Year Change-20.29%
3 Year Change-28.31%
5 Year Changen/a
Change since IPO-24.20%

Recent News & Updates

Narrative Update Apr 08

VSL: Dividend Timeline Will Support Bullish Outlook On Future Earnings Multiple

Analysts have made a small adjustment to their Vulcan Steel price target, now assessing fair value at A$6.99. This reflects updated views on the company’s discount rate, revenue growth outlook, profit margins and future P/E assumptions.
Narrative Update Mar 07

VSL: Dividend Timeline And Updated Assumptions Will Support A Balanced Outlook

Analysts have reduced their fair value estimate for Vulcan Steel from A$7.02 to A$6.99, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Vulcan Steel declared an ordinary fully franked dividend of NZ$0.02941176 per security for the six months ended December 31, 2025 (Key Developments).

Recent updates

Narrative Update Apr 08

VSL: Dividend Timeline Will Support Bullish Outlook On Future Earnings Multiple

Analysts have made a small adjustment to their Vulcan Steel price target, now assessing fair value at A$6.99. This reflects updated views on the company’s discount rate, revenue growth outlook, profit margins and future P/E assumptions.
Narrative Update Mar 07

VSL: Dividend Timeline And Updated Assumptions Will Support A Balanced Outlook

Analysts have reduced their fair value estimate for Vulcan Steel from A$7.02 to A$6.99, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Vulcan Steel declared an ordinary fully franked dividend of NZ$0.02941176 per security for the six months ended December 31, 2025 (Key Developments).
Narrative Update Feb 21

VSL: Slightly Higher Fair Value And P/E Assumptions Will Shape Balanced Outlook

Analysts have raised their price target on Vulcan Steel to A$7.02 from A$6.85, citing adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions as the main drivers of the change. Valuation Changes Fair Value: Updated from A$6.85 to A$7.02, representing a small uplift of around 2.5% in the assessed value per share.
Narrative Update Feb 06

VSL: Higher Return Hurdle And P/E Tweaks Will Guide Fair Outlook

Analysts have trimmed their price target for Vulcan Steel slightly to around A$6.85 from about A$6.87. This reflects small updates to fair value, discount rate assumptions and future P/E expectations rather than any major shift in the thesis.
Narrative Update Jan 23

VSL: Higher Return Hurdle And P/E Assumptions Will Shape Fair Outlook

Analysts have raised their price target for Vulcan Steel from A$6.50 to about A$6.87, reflecting updated assumptions about discount rates, revenue growth, profit margins, and future P/E expectations. Valuation Changes Fair Value: updated slightly higher from about A$6.50 to about A$6.87 per share.
Narrative Update Sep 05

Acquisitions And Recovery In Australasia Will Expand Market Reach

Despite a significant decline in Vulcan Steel's future P/E ratio, indicating improved value or lower growth expectations, the consensus analyst price target has remained unchanged at A$6.50. What's in the News Vulcan Steel announced a follow-on equity offering totaling AUD 87.1 million through a rights issue, offering 14,642,849 ordinary shares at AUD 5.95 per share with a slight discount.
Analysis Article Jun 22

Investors Could Be Concerned With Vulcan Steel's (ASX:VSL) Returns On Capital

What trends should we look for it we want to identify stocks that can multiply in value over the long term? One common...
Analysis Article Apr 07

Is Vulcan Steel (ASX:VSL) A Risky Investment?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
User avatar
New Narrative Feb 15

Diversifying Into Aluminum And Economic Recovery In Queensland May Improve Future Prospects Despite Inflation Pressures

Ongoing expansion into aluminum and new markets could drive growth by diversifying offerings and tapping into emerging opportunities.
Analysis Article Aug 29

Vulcan Steel's (ASX:VSL) Dividend Will Be NZ$0.1389

Vulcan Steel Limited's ( ASX:VSL ) investors are due to receive a payment of NZ$0.1389 per share on 10th of October...
Analysis Article Apr 18

These 4 Measures Indicate That Vulcan Steel (ASX:VSL) Is Using Debt Extensively

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article Mar 21

There Are Reasons To Feel Uneasy About Vulcan Steel's (ASX:VSL) Returns On Capital

If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see...
Analysis Article Sep 18

Vulcan Steel's (ASX:VSL) Dividend Is Being Reduced To NZ$0.305

Vulcan Steel Limited ( ASX:VSL ) is reducing its dividend from last year's comparable payment to NZ$0.305 on the 12th...
Analysis Article Aug 31

Vulcan Steel's (ASX:VSL) Dividend Is Being Reduced To NZ$0.305

Vulcan Steel Limited's ( ASX:VSL ) dividend is being reduced from last year's payment covering the same period to...
Analysis Article Jul 04

Should You Be Adding Vulcan Steel (ASX:VSL) To Your Watchlist Today?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article Feb 20

Vulcan Steel's (ASX:VSL) Shareholders May Want To Dig Deeper Than Statutory Profit

Vulcan Steel Limited's ( ASX:VSL ) stock didn't jump after it announced some healthy earnings. We did some digging and...
Analysis Article Dec 15

Vulcan Steel Limited's (ASX:VSL) Shares Lagging The Market But So Is The Business

With a price-to-earnings (or "P/E") ratio of 9x Vulcan Steel Limited ( ASX:VSL ) may be sending bullish signals at the...
Analysis Article Jun 09

Does This Valuation Of Vulcan Steel Limited (ASX:VSL) Imply Investors Are Overpaying?

In this article we are going to estimate the intrinsic value of Vulcan Steel Limited ( ASX:VSL ) by taking the forecast...

Shareholder Returns

VSLAU Metals and MiningAU Market
7D-3.6%-1.7%0.08%
1Y-20.3%54.5%3.1%

Return vs Industry: VSL underperformed the Australian Metals and Mining industry which returned 51.6% over the past year.

Return vs Market: VSL underperformed the Australian Market which returned 2.9% over the past year.

Price Volatility

Is VSL's price volatile compared to industry and market?
VSL volatility
VSL Average Weekly Movement7.7%
Metals and Mining Industry Average Movement12.1%
Market Average Movement10.5%
10% most volatile stocks in AU Market17.5%
10% least volatile stocks in AU Market4.3%

Stable Share Price: VSL has not had significant price volatility in the past 3 months compared to the Australian market.

Volatility Over Time: VSL's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19951,648Gavin Streetwww.vulcan.co

Vulcan Steel Limited, together with its subsidiaries, engages in the sale and distribution of steel and metal products in New Zealand and Australia. It operates through Steel and Metals segments. The company sells steel hollows; merchant products, including bars, angles, beams, channels, and unprocessed coils and plates; stainless steel products, such as fittings and sheets; and high-performance steel and metal products.

Vulcan Steel Limited Fundamentals Summary

How do Vulcan Steel's earnings and revenue compare to its market cap?
VSL fundamental statistics
Market capAU$794.19m
Earnings (TTM)AU$12.19m
Revenue (TTM)AU$813.91m
65.1x
P/E Ratio
1.0x
P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
VSL income statement (TTM)
RevenueNZ$990.54m
Cost of RevenueNZ$651.90m
Gross ProfitNZ$338.63m
Other ExpensesNZ$323.80m
EarningsNZ$14.84m

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)0.10
Gross Margin34.19%
Net Profit Margin1.50%
Debt/Equity Ratio80.2%

How did VSL perform over the long term?

See historical performance and comparison

Dividends

0.9%
Current Dividend Yield
55%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/22 12:36
End of Day Share Price 2026/05/22 00:00
Earnings2025/12/31
Annual Earnings2025/06/30

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

Vulcan Steel Limited is covered by 6 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Shaurya VisenBofA Global Research
Rohan Koreman-SmitForsyth Barr Group Ltd.
Grant SwanepoelJarden Limited