Salzgitter AG

XTRA:SZG Stock Report

Market Cap: €978.4m

Salzgitter Valuation

Is SZG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SZG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SZG (€18.09) is trading above our estimate of fair value (€10.37)

Significantly Below Fair Value: SZG is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SZG?

Key metric: As SZG is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for SZG. This is calculated by dividing SZG's market cap by their current revenue.
What is SZG's PS Ratio?
PS Ratio0.1x
Sales€10.11b
Market Cap€978.44m

Price to Sales Ratio vs Peers

How does SZG's PS Ratio compare to its peers?

The above table shows the PS ratio for SZG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.4x
TKA thyssenkrupp
0.06x-0.2%€2.1b
STO3 Sto SE KGaA
0.4x2.3%€723.6m
NDA Aurubis
0.2x4.2%€3.5b
ACT AlzChem Group
1x7.5%€586.2m
SZG Salzgitter
0.1x2.1%€978.4m

Price-To-Sales vs Peers: SZG is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.4x).

Price to Sales Ratio vs Industry

How does SZG's PS Ratio compare vs other companies in the European Metals and Mining Industry?

35 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.7x2.0%
SZG Salzgitter
 0.1x2.1%US$1.03b
SZG 0.1xIndustry Avg. 0.7xNo. of Companies35PS00.81.62.43.24+
35 CompaniesEstimated GrowthMarket Cap
Industry Avg.0.7x28.0%
SZG Salzgitter
 0.1x93.9%US$1.03b
No more companies

Price-To-Sales vs Industry: SZG is good value based on its Price-To-Sales Ratio (0.1x) compared to the European Metals and Mining industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is SZG's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SZG PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.1x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: SZG is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SZG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€18.09
€18.97
+4.8%
50.6%€45.00€11.50n/a9
Nov ’25€13.87
€18.54
+33.7%
52.1%€45.00€11.50n/a9
Oct ’25€16.20
€19.44
+20.0%
47.7%€45.00€13.50n/a9
Sep ’25€15.82
€20.11
+27.1%
44.8%€45.00€14.50n/a9
Aug ’25€15.73
€21.59
+37.2%
39.9%€45.00€16.00n/a9
Jul ’25€18.16
€24.83
+36.7%
30.7%€45.00€17.40n/a9
Jun ’25€22.70
€25.23
+11.2%
29.3%€45.00€19.10n/a9
May ’25€24.20
€26.17
+8.1%
26.8%€45.00€20.70n/a9
Apr ’25€24.20
€27.09
+11.9%
25.5%€45.00€20.70n/a9
Mar ’25€23.80
€28.75
+20.8%
20.8%€45.00€21.50n/a10
Feb ’25€25.66
€28.75
+12.0%
20.8%€45.00€21.50n/a10
Jan ’25€28.00
€28.83
+3.0%
21.8%€45.00€21.50n/a9
Dec ’24€27.94
€28.88
+3.4%
21.9%€45.00€21.50n/a9
Nov ’24€23.50
€28.13
+19.7%
23.2%€45.00€21.50€13.879
Oct ’24€25.10
€29.68
+18.2%
24.3%€45.00€17.60€16.209
Sep ’24€27.46
€30.24
+10.1%
21.6%€45.00€20.20€15.829
Aug ’24€31.06
€33.50
+7.9%
17.5%€45.00€23.30€15.739
Jul ’24€33.14
€35.57
+7.3%
12.7%€45.00€29.20€18.169
Jun ’24€30.14
€35.48
+17.7%
12.9%€45.00€29.20€22.709
May ’24€35.84
€36.51
+1.9%
10.4%€45.00€31.10€24.209
Apr ’24€36.40
€36.08
-0.9%
13.0%€45.00€26.60€24.209
Mar ’24€40.54
€34.30
-15.4%
17.9%€45.00€21.20€23.809
Feb ’24€37.60
€34.30
-8.8%
17.9%€45.00€21.20€25.669
Jan ’24€28.52
€29.25
+2.6%
24.9%€45.00€18.60€28.0010
Dec ’23€27.82
€29.00
+4.2%
24.0%€45.00€20.50€27.9410
Nov ’23€23.12
€28.44
+23.0%
28.0%€45.00€19.60€23.5010

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

Transcontinental

CA$1.4b

Engages in the flexible packaging business in Canada, the United States, Latin America, the United Kingdom, Australia, and New Zealand.

53L

CA$11.20

7D

-0.9%

1Y

54.5%

Central Asia Metals

UK£279.8m

Operates as a base metals producer.

9C3

UK£1.89

7D

-5.5%

1Y

-1.6%

African Rainbow Minerals

R31.5b

Through its subsidiaries, operates as a diversified mining and minerals company in South Africa and Switzerland.

EB9

R8.40

7D

-5.1%

1Y

0.6%