United States Steel Corporation

DB:USX1 Stock Report

Market Cap: €8.2b

United States Steel Valuation

Is USX1 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of USX1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: USX1 (€36.34) is trading below our estimate of fair value (€187.89)

Significantly Below Fair Value: USX1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for USX1?

Key metric: As USX1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for USX1. This is calculated by dividing USX1's market cap by their current earnings.
What is USX1's PE Ratio?
PE Ratio23.2x
EarningsUS$393.00m
Market CapUS$8.64b

Price to Earnings Ratio vs Peers

How does USX1's PE Ratio compare to its peers?

The above table shows the PE ratio for USX1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.5x
EIS Eisen- und Hüttenwerke
18.5xn/a€200.6m
NDA Aurubis
9x-6.2%€3.5b
EVK Evonik Industries
35.4x33.1%€8.1b
FPE3 Fuchs
19.2x8.9%€5.1b
USX1 United States Steel
23.2x35.3%€8.6b

Price-To-Earnings vs Peers: USX1 is expensive based on its Price-To-Earnings Ratio (23.2x) compared to the peer average (20.5x).

Price to Earnings Ratio vs Industry

How does USX1's PE Ratio compare vs other companies in the European Metals and Mining Industry?

15 CompaniesPrice / EarningsEstimated GrowthMarket Cap
USX1 23.2xIndustry Avg. 12.4xNo. of Companies15PE0816243240+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: USX1 is expensive based on its Price-To-Earnings Ratio (23.2x) compared to the European Metals and Mining industry average (12.4x).

Price to Earnings Ratio vs Fair Ratio

What is USX1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

USX1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.2x
Fair PE Ratio29.4x

Price-To-Earnings vs Fair Ratio: USX1 is good value based on its Price-To-Earnings Ratio (23.2x) compared to the estimated Fair Price-To-Earnings Ratio (29.4x).

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 USX1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€36.34
€41.21
+13.4%
5.6%€44.38€37.77n/a7
Nov ’25€35.49
€39.88
+12.4%
7.4%€45.22€35.07n/a7
Oct ’25€31.48
€38.20
+21.4%
7.0%€43.89€35.83n/a7
Sep ’25€34.50
€41.37
+19.9%
8.1%€46.02€36.45n/a8
Aug ’25€37.68
€41.41
+9.9%
8.0%€46.32€36.69n/a8
Jul ’25€35.26
€42.50
+20.6%
6.8%€47.28€37.45n/a8
Jun ’25€34.87
€41.75
+19.8%
6.8%€46.44€36.79n/a8
May ’25€34.30
€43.97
+28.2%
4.3%€46.98€41.45n/a7
Apr ’25€37.71
€43.97
+16.6%
4.4%€46.70€41.20n/a6
Mar ’25€43.71
€41.60
-4.8%
16.8%€50.75€30.45n/a6
Feb ’25€43.25
€36.52
-15.5%
20.4%€50.60€30.36n/a5
Jan ’25€44.00
€33.62
-23.6%
8.6%€36.64€30.23n/a5
Dec ’24€32.65
€31.17
-4.5%
11.4%€36.75€24.81n/a7
Nov ’24€31.80
€30.56
-3.9%
14.4%€37.86€23.66€35.497
Oct ’24€30.76
€25.55
-16.9%
14.8%€32.17€20.82€31.487
Sep ’24€28.96
€22.86
-21.1%
11.3%€27.59€18.39€34.507
Aug ’24€23.02
€23.58
+2.5%
17.2%€33.56€18.14€37.6810
Jul ’24€22.84
€24.32
+6.5%
17.5%€33.90€17.41€35.2611
Jun ’24€19.01
€24.67
+29.8%
17.5%€34.39€17.66€34.8711
May ’24€21.49
€26.55
+23.5%
13.1%€33.73€21.88€34.308
Apr ’24€23.97
€28.10
+17.2%
11.2%€34.13€23.99€37.718
Mar ’24€29.38
€26.13
-11.1%
20.4%€34.70€16.88€43.719
Feb ’24€25.99
€22.91
-11.8%
21.8%€33.91€16.50€43.259
Jan ’24€23.70
€22.95
-3.2%
22.6%€34.91€16.98€44.008
Dec ’23€25.00
€22.40
-10.4%
25.3%€35.53€17.29€32.658
Nov ’23€20.42
€23.13
+13.3%
25.2%€37.46€18.22€31.808

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

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