Constellium SE CSTM

MaterialsMetals & MiningFrance

Last close 23.03 USD on Nov 3, 2026, +22.2% year to date

Quant rating

Quant rating A Rank 17 of 220 in Materials

Growth C 91 of 220
Valuation A 19 of 220
Quality A 7 of 220
Revisions B 48 of 220
Momentum C 101 of 220

Wall Street consensus Buy (2.17)Average target 33.50 USD +45.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.1B
Enterprise value: 4.8B
52-week range: 14.64 – 36.94
3-year range: 7.70 – 36.94
Dividend yield: –
Beta (5 years): 1.63
Shares outstanding: 135M
Next earnings: Feb 16, 2027

About the company

Constellium SE is a France-based company. The Company is predominantly engaged in the development, manufacturing, and recycling of aluminum products and solutions. It focuses on the development of aluminum products for a broad scope of markets and applications, including aerospace, packaging and automotive. It operates through three segments: Aerospace & Transportation (A&T), Packaging & Automotive Rolled Products (P&ARP), and Automotive Structures & Industry (AS&I). A&T provides aluminum solutions for aircraft and transportation. P&ARP supplies rolled products for packaging and vehicles. AS&I focuses on structural components for automotive applications, including original equipment manufacturers.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	8,449	7,335	7,826	8,532	7,273	–
Revenue growth	15.2%	−6.3%	−8.3%	17.3%	30.7%	8.7%
EPS (basic, normalized)	1.92	0.38	0.91	2.16	2.07	–
EPS growth	405.6%	−58.2%	−58.0%	4.6%	–	–
Gross margin	14.3%	13.1%	13.8%	11.6%	10.8%	12.7%
Net margin	3.2%	0.8%	1.9%	3.6%	4.2%	2.7%
ROE	32.9%	7.9%	20.3%	57.9%	355.3%	94.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	158
Current ratio	1.48x
Long-term debt (mil)	1,778
Net debt (mil)	1,666
Total equity (mil)	1,334
Net debt / equity	1.25x
Net debt / EBITDA	1.97x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	8,449	+15.2%	0.6x	846	+48.3%	5.6x	1.92	+405.6%	12.0x
2026	10,438	+23.5%	0.5x	1,119	+32.3%	4.3x	3.91	+103.5%	5.9x
2027	10,372	−0.6%	0.5x	962	−14.1%	5.0x	2.70	−31.0%	8.5x
2028	10,433	+0.6%	0.5x	990	+2.9%	4.8x	2.87	+6.2%	8.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	10,438	+1.1%	+1.2%	+0.4%	3.91	+1.0%	+0.7%	+15.3%
2027	10,372	−0.1%	−0.1%	−2.2%	2.70	+2.3%	+1.8%	+2.1%
2028	10,433	+1.8%	+4.3%	−1.8%	2.87	+4.8%	+8.1%	−4.5%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,879	1,932	1,800	1,721	1,979	2,101	2,166	2,201	2,461	2,748
Sales mean (mil)	1,710	2,057	1,958	1,673	2,039	2,263	2,354	2,115	2,536	2,732
Surprise	+9.9%	−6.0%	−8.1%	+2.9%	−2.9%	−7.1%	−8.0%	+4.1%	−3.0%	+0.6%
EPS reported	0.12	0.52	0.15	−0.34	0.26	0.25	0.35	0.80	1.42	1.04
EPS mean	0.27	0.46	0.39	0.04	0.07	0.32	0.39	0.37	0.61	0.86
Surprise	−56.6%	+11.5%	−60.2%	−991.4%	+255.4%	−22.3%	−10.0%	+115.4%	+132.8%	+20.9%

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
CSTM Constellium SE	3.1B	1.97x	3.2%	2.32x	5.9x	8.5x	4.3x	5.0x
SCCO Southern Copper Corp	148.0B	0.00x	32.3%	11.47x	22.0x	23.2x	13.1x	13.5x
GMBXF Grupo Mexico SAB de CV	92.4B	0.36x	19.7%	3.49x	13.9x	13.6x	7.4x	7.4x
FCX Freeport-McMoRan Inc	86.5B	1.93x	8.5%	4.23x	19.2x	14.1x	8.3x	5.9x
AEM Agnico Eagle Mines Limited	84.7B	−0.41x	37.5%	2.85x	14.4x	14.2x	7.5x	7.2x
WPM Wheaton Precious Metals Corp.	53.3B	1.09x	63.6%	5.50x	25.5x	24.7x	18.2x	16.9x
Mean		0.82x	27.5%	4.98x	16.8x	16.4x	9.8x	9.3x
Median		0.73x	26.0%	3.86x	16.8x	14.2x	7.9x	7.3x

Technical analysis

1M−5.6%
3M−19.0%
1Y+42.0%
3Y+35.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Constellium SE, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	8,449	7,335	7,826	8,532	7,273	5,565
Cost of revenue	7,238	6,374	6,747	7,545	6,488	5,007
Gross profit	1,211	961	1,079	987	785	558
Selling, general & administrative expenses	356	336	341	308	285	254
Research & development	51.0	49.0	52.0	46.0	40.2	38.8
Depreciation/amortization	330	304	300	290	26.0	21.7
Interest expense (income), operating	–	–	–	–	−181	20.5
Unusual expense (income)	24.0	33.0	22.0	17.0	76.8	79.8
Other operating expenses	4.0	1.0	7.0	10.0	−2.4	1.1
Operating income	446	238	357	316	540	142
Net interest income (expense)	−27.0	−87.0	−158	−160	−155	−169
Gain (loss) on sale of assets	−4.0	−4.0	41.0	−5.0	–	–
Other non-operating income (expense)	−7.0	−12.0	−8.0	−1.0	−10.6	−12.5
Net income before taxes	408	135	232	150	375	−38.8
Provision for taxes	133	75.0	75.0	−165	65.0	−19.4
Minority interest	−2.0	−4.0	−5.0	−7.0	−5.9	−4.6
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	273	56.0	152	308	304	−23.9
Extraordinary items	–	–	–	–	–	–
Net income	273	56.0	152	308	304	−23.9
EBIT, normalized	470	271	379	333	436	223
EBITDA, normalized	800	575	679	623	752	519
Basic EPS, normalized	1.92	0.38	0.91	2.16	2.07	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Constellium SE, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	120	141	223	178	167	536
Receivables	723	486	531	568	766	489
Total inventory	1,407	1,181	1,197	1,413	1,194	711
Prepaid expenses	–	–	–	8.6	10.2	7.3
Other current assets	72.0	26.0	41.0	33.2	65.9	47.6
Total current assets	2,322	1,834	1,992	2,200	2,203	1,790
Property, plant & equipment	2,585	2,408	2,422	2,159	2,214	2,328
Goodwill	47.0	46.0	41.0	512	513	509
Intangibles	88.0	97.0	104	57.8	65.9	74.5
Long-term investments	–	–	–	–	–	1.2
Note receivable	31.0	36.0	34.0	46.0	62.5	81.8
Other long-term assets	281	313	340	314	198	258
Total assets	5,354	4,734	4,933	5,288	5,257	5,043
Liabilities
Accounts payable	1,222	959	1,025	1,236	1,211	765
Payable/accrued	163	–	–	–	–	–
Accrued expenses	289	221	251	209	210	175
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	39.0	39.0	41.0	158	293	112
Other current liabilities	85.0	227	239	209	234	275
Total current liabilities	1,798	1,446	1,556	1,812	1,948	1,326
Long-term debt	1,905	1,879	1,888	2,042	2,127	2,808
Minority interest	19.0	21.0	24.0	22.5	19.3	17.1
Other liabilities	680	682	747	629	850	1,032
Total liabilities	4,402	4,028	4,215	4,506	4,945	5,183
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	4.0	4.0	4.0	3.2	3.4	3.7
Additional paid-in capital	693	513	513	449	477	513
Retained earnings (accumulated deficit)	354	203	201	296	−186	−652
Treasury stock	−153	–	–	–	–	–
Other equity	54.0	−14.0	0	33.2	17.1	−4.9
Total equity	952	706	718	782	311	−140
Total liabilities & shareholders' equity	5,354	4,734	4,933	5,288	5,257	5,043

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Constellium SE, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	275	60.0	157	315	310	−19.4
Depreciation, depletion & amortization	330	304	300	290	316	295
Deferred taxes	–	–	–	–	–	–
Non-cash items	267	267	223	65.0	304	256
Changes in working capital	−383	−330	−247	−306	−507	−152
Cash from operations	489	301	433	364	422	381
Investing activities
Capital expenditures	−330	−413	−366	−289	−274	−207
Other investing cash flows	21.0	100	150	93.0	13.0	6.8
Cash from investing	−309	−313	−216	−196	−261	−201
Financing activities
Financing cash flow items	−33.0	−10.0	−11.0	−6.0	−68.6	−19.4
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−182	−51.0	−166	−144	−446	134
Cash from financing	−215	−61.0	−177	−150	−514	115
Foreign exchange effects	14.0	−9.0	7.0	−8.0	8.3	−4.6
Net change in cash	−21.0	−82.0	47.0	10.0	−345	291
Free cash flow	159	−112	67.0	75.0	148	173

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.