Voestalpine AG

BATS-CHIXE:VOEv Stock Report

Market Cap: €3.1b

Voestalpine Valuation

Is VOEv 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 VOEv when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VOEv (€18.29) is trading below our estimate of fair value (€22.09)

Significantly Below Fair Value: VOEv is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As VOEv is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for VOEv. This is calculated by dividing VOEv's market cap by their current revenue.
What is VOEv's PS Ratio?
PS Ratio0.2x
Sales€16.21b
Market Cap€3.14b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for VOEv vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.8x
NLMK Novolipetsk Steel
0.3xn/aUS$4.1b
HILS Hill & Smith
2x5.9%UK£1.7b
EVR EVRAZ
0.1x-8.5%UK£1.2b
FXPO Ferrexpo
0.7x4.9%UK£478.3m
VOEv Voestalpine
0.2x0.4%€3.1b

Price-To-Sales vs Peers: VOEv is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (1.3x).

Price to Sales Ratio vs Industry

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

15 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.n/a1.4%
VOEv Voestalpine
 0.2x0.4%US$3.32b
GLEN Glencore
0.3x-0.8%US$58.65b
NLMK Novolipetsk Steel
0.3xn/aUS$4.08b
No. of Companies14PS01.22.43.64.86+
15 CompaniesEstimated GrowthMarket Cap
Industry Avg.n/a22.2%
VOEv Voestalpine
 0.2x61.2%US$3.32b
No more companies

Price-To-Sales vs Industry: VOEv is good value based on its Price-To-Sales Ratio (0.2x) compared to the UK Metals and Mining industry average (2x).

Price to Sales Ratio vs Fair Ratio

What is VOEv'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.

VOEv PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate VOEv's Price-To-Sales Fair Ratio for valuation analysis.

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 VOEv forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€18.29
€30.57
+67.1%
14.6%€40.00€25.80n/a12
Nov ’25€19.15
€30.57
+59.7%
14.6%€40.00€25.80n/a12
Oct ’25€23.39
€30.57
+30.7%
14.6%€40.00€25.80n/a12
Sep ’25n/a
€30.57
0%
14.6%€40.00€25.80n/a12
Aug ’25€23.72
€30.57
+28.9%
14.6%€40.00€25.80n/a12
Jul ’25n/a
€30.57
0%
14.6%€40.00€25.80n/a12
Jun ’25n/a
€30.57
0%
14.6%€40.00€25.80n/a12
May ’25n/a
€30.57
0%
14.6%€40.00€25.80n/a12
Apr ’25€25.80
€30.57
+18.5%
14.6%€40.00€25.80n/a12
Mar ’25€25.22
€30.57
+21.2%
14.6%€40.00€25.80n/a12
Feb ’25€27.46
€30.57
+11.3%
14.6%€40.00€25.80n/a12
Jan ’25€28.42
€30.69
+8.0%
15.1%€40.00€25.80n/a11
Dec ’24€26.16
€30.17
+15.3%
16.7%€40.00€24.80n/a11
Nov ’24n/a
€30.79
0%
17.9%€40.00€23.60€19.1511
Oct ’24n/a
€32.50
0%
15.6%€40.00€24.20€23.3912
Sep ’24n/a
€32.63
0%
15.2%€40.00€24.20n/a12
Aug ’24n/a
€34.23
0%
13.8%€41.00€25.40€23.7212
Jul ’24n/a
€34.83
0%
14.0%€41.00€25.10n/a12
Jun ’24€29.98
€35.83
+19.5%
13.7%€42.00€25.10n/a11
May ’24€31.20
€36.05
+15.5%
14.8%€44.00€25.10n/a10
Apr ’24€30.98
€35.40
+14.3%
17.7%€44.00€22.40€25.8012
Mar ’24€33.54
€35.13
+4.7%
18.2%€44.00€23.40€25.2211
Feb ’24€30.30
€32.05
+5.8%
15.9%€40.00€21.50€27.4611
Jan ’24n/a
€27.52
0%
20.4%€40.00€20.00€28.4213
Dec ’23€26.00
€27.15
+4.4%
21.0%€40.00€19.60€26.1613
Nov ’23€21.94
€25.55
+16.5%
20.7%€40.00€18.90n/a13

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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