Acerinox, S.A. (ACX.MC) stock analysis

In our weekly check, Acerinox, S.A. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 5, red flags: 7.

About Acerinox, S.A.

Acerinox, S.A. is a Basic Materials company (Steel) based in Spain, listed on BME as ACX.MC.

What our checks show for ACX.MC

Red flags

• The net margin fell by 7.5 points over 5 years, to 1%: the company keeps less of each sale as profit.
• The gross margin fell by 9.3 points, to 15.5%: costs are rising faster than prices.
• Analysts expect revenue to shrink about 5.7% a year.
• Revenue fell 0.8% a year over the last 3 years.
• The net margin is only 1%: little room if costs rise.
• The dividend takes 275% of profit: little cushion if profit falls.
• The stock has fallen as much as 73% from a peak. Would you have held through that?

Warning signs

• Net debt is 2.2x a year of EBITDA (debt/equity 1.08). That limits room in a downturn and raises refinancing risk.
• Earnings per share fell 46% a year over the last 3 years.
• Net profit fell 46.7% a year over the last 3 years.
• Free cash flow is only 0.6% of revenue.
• The stock is still below its previous peak.

Strengths

• Operating cash flow is 6.39x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 97.7% a year over the next years.
• Analysts expect the net margin to improve by 5.4 points from today's 1%.
• Pay in shares is only 0% of free cash flow.

Similar companies

VK.PA · CMC · VOE.VI · WS · CLF · GGB

Questions

What grade does Acerinox, S.A. (ACX.MC) have?

In our weekly check, Acerinox, S.A. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 5, red flags: 7. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of ACX.MC stock?

This week's biggest flags for Acerinox, S.A.: Margins falling, Gross margin falling, Weak revenue forecast. In total 12 of 25 checks show a warning or a red flag.

What does Acerinox, S.A. do?

Acerinox, S.A. is a Basic Materials company (Steel) based in Spain, listed on BME as ACX.MC.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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