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Produces stainless steel for construction, transportation, process industries and consumer goods.
Produces stainless steel for construction, transportation, process industries and consumer goods.
Prices stainless steel as a base price plus an alloy surcharge that follows the cost of nickel, chromium and molybdenum, so what it earns is the margin above those metals; it also recycles scrap into new steel. Finland's Tornio works, where it also mines chrome, is the main plant.
Moat: narrow (scale, cost advantage). Integrated ferrochrome-to-stainless-steel production at Tornio gives a raw-material cost advantage.
Headquarters: Helsinki, Finland · Employees: 8,251
Size Outokumpu (OUT1V.HE) is a Finland Materials company (Steel) with a market value of $1.99B, the 25th largest of 65 Finland companies the cockpit tracks. Shares closed at €3.79 on 6 Nov 2026.
Performance Over six months the shares fell 31.3%, against -20.0% for the median peer and -2.9% for the Finland market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue fell 7.5% over the last twelve months (peer median -0.2%); the operating margin is -0.7% (peer median 5.9%).
Valuation It trades at 20.3× forward earnings against a peer median of 18.0× (7th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is -1%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 11.4 points below its cost of capital (10.6% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €5.49B | €5.47B | €5.94B | €6.96B | €9.49B |
| Revenue growth | — | -8% | -15% | -27% | — |
| Gross profit | €259M | €180M | €223M | €479M | €1.34B |
| EBITDA | €180M | €133M | €133M | €432M | €1.28B |
| Net income | -€81.0M | -€137M | -€40.0M | -€103M | €1.15B |
| Free cash flow | €90.0M | -€39.0M | -€26.0M | €196M | €630M |
| Capital expenditure | €117M | €143M | €211M | €146M | €155M |
| Total debt | €594M | €627M | €502M | €441M | €632M |
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 |
|---|---|---|---|---|---|---|
| Outokumpu OUT1V.HE | $1.99B | -31% | -7% | -1% | 20.3× | 14.0% |
| Aperam APAM.AS | $2.63B | -32% | -4% | 2% | 13.6× | 12.9% |
| Acerinox ACX.MC | $4.00B | +2% | 0% | 4% | 15.8× | 18.6% |
| POSCO 005490.KS | $14.4B | -42% | +4% | 3% | 11.2× | n/a |
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 | OUT1V.HE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.1% | -8.2% | 3rd lowest of 21 |
| 6-month return | -31.3% | -20.0% | 7th lowest of 21 |
| Distance from 52-week high | -39.1% | -38.5% | 9th lowest of 21 |
| Revenue growth (TTM) | -7.5% | -0.2% | 5th lowest of 21 |
| Operating margin | -0.7% | 5.9% | 4th lowest of 20 |
| Forward P/E | 20.3× | 18.0× | 7th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 14.0% | 10.6% | 7th most demanding of 18 |
| Growth delivered (Del g) | -0.7% | +7.0% | 5th lowest of 18 |
| Hurdle (Req g minus delivered) | +14.7 pp | +5.5 pp | 3rd most demanding of 18 |
| ROIC minus cost of capital | -11.4 pp | -3.1 pp | 3rd lowest of 20 |
| Net debt / EBITDA | 1.2× | 1.1× | 5th most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Outokumpu OUT1V.HE | Finland | $1.99B | -31% | -7% | -1% | 20.3× | 14.0% | -0.7% |
| Shandong Iron and Steel 600022.SS | China | $1.98B | -12% | -10% | n/a | 12.6× | 1.3% | -5.1% |
| Xinxing Ductile Iron Pipes 000778.SZ | China | $2.05B | -24% | +15% | 2% | 20.5× | -6.9% | -2.8% |
| Worthington Steel WS | United States | $1.88B | -9% | +69% | 3% | 9.7× | 26.5% | -1.5% |
| Tung Ho Steel Enterprise 2006.TW | Taiwan | $1.86B | +26% | -4% | 12% | 11.2× | -10.3% | +6.2% |
| KIOCL KIOCL.NS | India | $2.15B | -18% | +27% | -6% | n/a | n/a | n/a |
| Ratnamani Metals & Tubes RATNAMANI.NS | India | $1.83B | -13% | -16% | 14% | 31.8× | 27.4% | +14.4% |
| Maanshan Iron & Steel 0323.HK | Hong Kong | $2.27B | -50% | 0% | 0% | 18.0× | 3.8% | -1.7% |
| Advanced Technology & Materials 000969.SZ | China | $2.28B | -32% | +37% | 5% | 40.2× | 16.2% | +9.8% |
| Daido Steel 5471.T | Japan | $2.29B | -4% | +8% | 7% | 10.8× | 8.8% | +7.0% |
| Sichuan Anning Iron and Titanium 002978.SZ | China | $1.72B | -22% | -10% | 41% | 18.4× | 6.1% | +4.2% |
| China Nonferrous Metal Industry's Foreign Engineering and Construction 000758.SZ | China | $1.72B | -17% | +42% | 7% | n/a | 9.1% | +8.4% |
| Alleima ALLEI.ST | Sweden | $2.32B | +9% | -5% | 7% | 21.5× | 12.9% | +0.4% |
| Jindal Saw JINDALSAW.NS | India | $1.70B | +4% | -1% | 6% | 22.7× | 17.5% | +10.9% |
| Chongqing Iron & Steel 1053.HK | Hong Kong | $1.64B | -27% | -8% | -13% | n/a | n/a | n/a |
| Hainan Mining 601969.SS | China | $2.44B | -33% | +29% | 17% | 13.9× | 0.8% | +9.9% |
| Sarda Energy & Minerals SARDAEN.NS | India | $1.63B | -27% | -2% | 26% | n/a | 10.6% | +20.9% |
| Angang Steel 0347.HK | Hong Kong | $2.48B | -32% | -1% | -7% | n/a | n/a | n/a |
| Sims SGM.AX | Australia | $2.62B | -11% | +7% | 4% | 10.5× | 14.6% | +6.2% |
| Aperam APAM.AS | Netherlands | $2.63B | -32% | -4% | 2% | 13.6× | 12.9% | +10.9% |
| Suzhou Hesheng Special Material 002290.SZ | China | $1.51B | -50% | +1% | 7% | 42.2× | 34.8% | +7.1% |