Loading…
Dutch producer of critical and specialty metals like vanadium, lithium and antimony, plus vacuum-furnace engineering systems.
Dutch producer of critical and specialty metals like vanadium, lithium and antimony, plus vacuum-furnace engineering systems.
Sells metals and alloys at market-linked prices and equipment on project contracts, so earnings combine commodity cycles with the order book of its furnace business. Its vanadium comes from recycling refinery and industrial residues, and lithium output is a build-out in Germany, where it refines lithium hydroxide.
In one line: A Dutch critical-minerals and specialty metals producer.
Moat: narrow (scale, process know-how, regulatory licence). Vertically integrated mining-to-processing in scarce critical materials with high entry barriers.
Headquarters: Amsterdam, Netherlands · Founded: 1986 · Employees: 3,640
Size AMG Critical Materials (AMG.AS) is a Netherlands Materials company (Other Metals/Minerals) with a market value of $988M, the 47th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €24.16 on 6 Nov 2026.
Performance Over six months the shares fell 40.9%, against -15.3% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 11.8% over the last twelve months (peer median +35.7%); the operating margin is 7.4% (peer median 19.1%).
Valuation It trades at 11.9× forward earnings against a peer median of 14.9× (4th cheapest of 12).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points above its cost of capital (6.3% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.59B | €1.51B | €1.33B | €1.50B | €1.56B |
| Revenue growth | — | +14% | -11% | -4% | — |
| Gross profit | €308M | €264M | €201M | €353M | €383M |
| EBITDA | €180M | €140M | €96.4M | €260M | €301M |
| Net income | €4.68M | -€16.5M | -€30.8M | €93.7M | €178M |
| Free cash flow | €7.70M | -€16.7M | -€79.5M | €50.1M | -€6.37M |
| Capital expenditure | €72.6M | €72.3M | €99.5M | €142M | €166M |
| Total debt | €741M | €733M | €787M | €653M | €686M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| AMG Critical Materials AMG.AS | $988M | -41% | +12% | 7% | 11.9× | 0.2% |
| Albemarle ALB | $11.7B | -51% | +18% | 14% | 11.3× | 10.9% |
| Ganfeng Lithium 002460.SZ | $9.71B | -57% | +128% | 18% | 11.5× | 4.4% |
| CMOC 3993.HK | $40.0B | -39% | +39% | 20% | 6.7× | -8.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AMG.AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.8% | -15.6% | 11th highest of 21 |
| 6-month return | -40.9% | -15.3% | 4th lowest of 20 |
| Distance from 52-week high | -44.5% | -36.3% | 9th lowest of 21 |
| Revenue growth (TTM) | +11.8% | +35.7% | 3rd lowest of 17 |
| Operating margin | 7.4% | 19.1% | 8th lowest of 18 |
| Forward P/E | 11.9× | 14.9× | 4th cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | 0.2% | 8.8% | 4th least demanding of 9 |
| Growth delivered (Del g) | +13.0% | +9.7% | 5th highest of 9 |
| Hurdle (Req g minus delivered) | -12.8 pp | -12.8 pp | 5th least demanding of 9 |
| ROIC minus cost of capital | +1.6 pp | -4.9 pp | 5th highest of 19 |
| EV / EBITDA | 7.5× | 12.2× | 6th cheapest of 11 |
| Net debt / EBITDA | 2.5× | -0.0× | 2nd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AMG Critical Materials AMG.AS | Netherlands | $988M | -41% | +12% | 7% | 11.9× | 0.2% | +13.0% |
| Jinchuan Group International Resources 2362.HK | Hong Kong | $997M | +4% | +65% | 22% | 2.0× | -2.2% | -1.8% |
| TMC TMC | United States | $1.00B | -60% | n/a | n/a | n/a | n/a | n/a |
| Zhejiang Tony Electronic 603595.SS | China | $960M | +52% | +5% | -12% | n/a | n/a | n/a |
| Metals X MLX.AX | Australia | $934M | -11% | +26% | 53% | 7.2× | -10.3% | +31.2% |
| Americas Gold and Silver USA.TO | Canada | $1.05B | -50% | +86% | 19% | 14.9× | n/a | n/a |
| Jain Resource Recycling JAINREC.NS | India | $1.05B | -43% | +48% | 5% | 23.4× | n/a | n/a |
| Zimplats ZIM.AX | Australia | $1.06B | -15% | +50% | 33% | n/a | -15.0% | +1.1% |
| Sandur Manganese & Iron Ores SANDUMA.NS | India | $914M | -18% | +21% | 20% | n/a | 13.8% | +46.8% |
| Osisko Metals OM.TO | Canada | $911M | -16% | n/a | n/a | n/a | n/a | n/a |
| Amerigo Resources ARG.TO | Canada | $910M | +24% | +54% | 41% | 12.2× | 3.8% | +13.4% |
| Changsha Dialine New Material Sci.&Tech 300700.SZ | China | $903M | -13% | +14% | -23% | n/a | n/a | n/a |
| Xizang Zhihui Mining 2546.HK | Hong Kong | $1.08B | +8% | +104% | 28% | n/a | 32.8% | +6.0% |
| Londian Wason New Energy Tech, Inc. Unsponsored ADR FOIL | United States | $1.11B | n/a | +25% | 5% | 13.3× | n/a | n/a |
| Alphamin Resources AFM.V | Canada | $1.12B | -15% | +45% | 54% | 4.1× | n/a | n/a |
| Uranium Royalty UROY | United States | $1.16B | -24% | +1,570% | 27% | n/a | 17.4% | +161.8% |
| Jiangxi Jiangnan New Material Technology 603124.SS | China | $1.16B | -37% | +19% | 3% | 18.6× | n/a | n/a |
| Talon Metals TLO.TO | Canada | $839M | +3% | n/a | 3% | 17.9× | n/a | n/a |
| Luyang Energy-Saving Materials 002088.SZ | China | $837M | +12% | -21% | 1% | 58.4× | 20.8% | +1.3% |
| Collective Mining CNL.TO | Canada | $1.17B | -22% | n/a | n/a | n/a | n/a | n/a |
| Gravita India GRAVITA.NS | India | $1.17B | -17% | +24% | 8% | 24.7× | n/a | n/a |