Voestalpine AG

LSE:0MKX Stock Report

Market Cap: €3.1b

Voestalpine Valuation

Is 0MKX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 0MKX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0MKX (€18.14) is trading below our estimate of fair value (€22.19)

Significantly Below Fair Value: 0MKX 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 0MKX?

Key metric: As 0MKX is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0MKX. This is calculated by dividing 0MKX's market cap by their current revenue.
What is 0MKX's PS Ratio?
PS Ratio0.2x
Sales€16.21b
Market Cap€3.08b

Price to Sales Ratio vs Peers

How does 0MKX's PS Ratio compare to its peers?

The above table shows the PS ratio for 0MKX 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£459.5m
0MKX Voestalpine
0.2x0.4%€3.1b

Price-To-Sales vs Peers: 0MKX is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (1.4x).

Price to Sales Ratio vs Industry

How does 0MKX's PS Ratio compare vs other companies in the GB Metals and Mining Industry?

15 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.1.9x1.5%
0MKX Voestalpine
 0.2x0.4%US$3.23b
GLEN Glencore
0.3x-0.8%US$57.76b
NLMK Novolipetsk Steel
0.3xn/aUS$4.08b
0MKX 0.2xIndustry Avg. 1.9xNo. of Companies14PS01.22.43.64.86+
15 CompaniesEstimated GrowthMarket Cap
Industry Avg.1.9x22.0%
0MKX Voestalpine
 0.2x61.1%US$3.23b
No more companies

Price-To-Sales vs Industry: 0MKX is good value based on its Price-To-Sales Ratio (0.2x) compared to the UK Metals and Mining industry average (1.9x).

Price to Sales Ratio vs Fair Ratio

What is 0MKX'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.

0MKX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio0.6x

Price-To-Sales vs Fair Ratio: 0MKX is good value based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (0.6x).

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 0MKX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€18.14
€25.96
+43.1%
19.1%€36.00€19.10n/a12
Nov ’25€19.04
€28.03
+47.2%
18.5%€37.00€19.10n/a12
Oct ’25€22.96
€29.48
+28.4%
15.9%€39.00€22.30n/a12
Sep ’25€22.18
€29.48
+32.9%
15.9%€39.00€22.30n/a12
Aug ’25€23.40
€30.48
+30.3%
12.9%€39.00€25.80n/a12
Jul ’25€25.29
€30.14
+19.2%
14.6%€39.00€22.20n/a12
Jun ’25€26.86
€29.45
+9.6%
14.3%€38.00€22.20n/a12
May ’25€25.29
€29.45
+16.5%
14.3%€38.00€22.20n/a12
Apr ’25€26.00
€29.89
+15.0%
13.7%€39.00€24.80n/a12
Mar ’25€25.48
€30.18
+18.5%
13.1%€39.00€25.80n/a12
Feb ’25€27.62
€30.40
+10.1%
12.4%€39.00€25.80n/a12
Jan ’25€28.56
€30.69
+7.5%
15.1%€40.00€25.80n/a11
Dec ’24€26.58
€30.17
+13.5%
16.7%€40.00€24.80n/a11
Nov ’24€23.60
€30.79
+30.5%
17.9%€40.00€23.60€19.0411
Oct ’24€25.84
€32.50
+25.8%
15.6%€40.00€24.20€22.9612
Sep ’24€26.76
€32.63
+21.9%
15.2%€40.00€24.20€22.1812
Aug ’24€29.76
€34.23
+15.0%
13.8%€41.00€25.40€23.4012
Jul ’24€32.90
€34.83
+5.9%
14.0%€41.00€25.10€25.2912
Jun ’24€28.90
€35.83
+24.0%
13.7%€42.00€25.10€26.8611
May ’24€30.70
€36.05
+17.4%
14.8%€44.00€25.10€25.2910
Apr ’24€31.34
€35.40
+13.0%
17.7%€44.00€22.40€26.0012
Mar ’24€35.29
€35.13
-0.5%
18.2%€44.00€23.40€25.4811
Feb ’24€30.64
€32.05
+4.6%
15.9%€40.00€21.50€27.6211
Jan ’24€24.84
€27.52
+10.8%
20.4%€40.00€20.00€28.5613
Dec ’23€26.10
€27.15
+4.0%
21.0%€40.00€19.60€26.5813
Nov ’23€22.41
€25.55
+14.0%
20.7%€40.00€18.90€23.6013

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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