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Ferroglobe PLC (GSM) 10-Year Financial Performance & Capital Metrics

GSM • • Industrial / General
Basic MaterialsIndustrial MaterialsSpecialty Metals & MineralsSpecialty Metals Producers
AboutFerroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel. The company also offers ferrosilicon products that are used to produce stainless steel, carbon steel, and various other steel alloys, as well as to manufacture electrodes and aluminum; calcium silicon, which is used in the deoxidation and desulfurization of liquid steel, and production of coatings for cast iron pipes, as well as in the welding process of powder metal and in pyrotechnics; and nodularizers and inoculants, which are used in the production of iron. In addition, it provides silica fume, a by-product of the electrometallurgical process of silicon metal and ferrosilicon. Further, the company operates quartz mines in Spain, South Africa, the United States, and Canada; and low-ash metallurgical coal mines in the United States, as well as holds interests in hydroelectric power plant in France. It serves silicone chemical, aluminum, and steel manufacturers; auto companies and their suppliers; ductile iron foundries; manufacturers of photovoltaic solar cells and computer chips; and concrete producers. The company was formerly known as VeloNewco Limited and changed its name to Ferroglobe PLC in December 2015. The company was incorporated in 2015 and is headquartered in London, the United Kingdom. Ferroglobe PLC is a subsidiary of Grupo Villar Mir, S.A.U.Show more
  • Revenue $1.64B -0.4%
  • EBITDA $114M -58.0%
  • Net Income $24M -71.5%
  • EPS (Diluted) 0.03 -93.5%
  • Gross Margin 32.93% -22.1%
  • EBITDA Margin 6.91% -57.8%
  • Operating Margin 2.32% -80.5%
  • Net Margin 1.43% -71.4%
  • ROE 2.76% -72.8%
  • ROIC 2.9% -79.9%
  • Debt/Equity 0.24 -39.0%
  • Interest Coverage 2.47 -58.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 31.6%
  • ✓Momentum leader: RS Rating 80 (top 20%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Trading at only 1.1x book value
  • ✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.5%
5Y0.51%
3Y-2.6%
TTM-8.97%

Profit (Net Income) CAGR

10Y-4.79%
5Y-
3Y-
TTM-93.85%

EPS CAGR

10Y-22.62%
5Y-
3Y-
TTM-143.59%

ROCE

10Y Avg7.01%
5Y Avg13.49%
3Y Avg26.76%
Latest3.34%

Peer Comparison

Specialty Metals Producers
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Size & Scale
Valuation
Per Share
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Technical
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MTRNMaterion Corporation2.9B139.76499.141.17%1.12%2.08%0.24%0.60
GSMFerroglobe PLC927.53M4.97165.67-0.37%-8.58%-14.98%18.01%0.24
LGOLargo Inc.102.92M1.23-1.58-37.13%-57.33%-47.11%0.10
AECAnfield Energy Inc. Common Shares101.62M6.40-8.53-26.29%0.21
UAMYUnited States Antimony Corporation1.09B7.75-484.3871.84%-14.91%-6.88%0.16%0.06

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+1.32B1.58B1.74B2.27B1.6B1.14B1.78B2.6B1.65B1.64B
Revenue Growth %-0.07%0.2%0.1%0.31%-0.3%-0.29%0.55%0.46%-0.36%-0%
Cost of Goods Sold+885.79M1.18B1.15B1.56B1.32B943.67M1.28B1.37B952.82M1.1B
COGS % of Revenue0.67%0.75%0.66%0.69%0.82%0.82%0.72%0.53%0.58%0.67%
Gross Profit+430.8M400.36M593.18M710.11M282.76M200.76M496.68M1.23B697.22M541.35M
Gross Margin %0.33%0.25%0.34%0.31%0.18%0.18%0.28%0.47%0.42%0.33%
Gross Profit Growth %-0.07%-0.07%0.48%0.2%-0.6%-0.29%1.47%1.48%-0.43%-0.22%
Operating Expenses+390.41M508.88M522.01M578.94M466.67M385.11M465.3M570.72M500.28M503.17M
OpEx % of Revenue0.3%0.32%0.3%0.25%0.29%0.34%0.26%0.22%0.3%0.31%
Selling, General & Admin205.87M294.63M302.14M341.04M291.14M214.78M389.77M482.57M413.47M409.48M
SG&A % of Revenue0.16%0.19%0.17%0.15%0.18%0.19%0.22%0.19%0.25%0.25%
Research & Development11.1M000000000
R&D % of Revenue0.01%---------
Other Operating Expenses-1.26M1.54M-4.47M13.41M175.53M170.33M75.53M88.15M86.81M93.69M
Operating Income+-15.13M-182.07M66.36M177.4M-13.6M-184.35M31.39M660.55M196.94M38.18M
Operating Margin %-0.01%-0.12%0.04%0.08%-0.01%-0.16%0.02%0.25%0.12%0.02%
Operating Income Growth %-1.16%-11.04%1.36%1.67%-1.08%-12.55%1.17%20.05%-0.7%-0.81%
EBITDA+51.92M-63.73M168.85M291.25M106.53M-76.16M128.71M742.11M270.47M113.64M
EBITDA Margin %0.04%-0.04%0.1%0.13%0.07%-0.07%0.07%0.29%0.16%0.07%
EBITDA Growth %-0.69%-2.23%3.65%0.72%-0.63%-1.71%2.69%4.77%-0.64%-0.58%
D&A (Non-Cash Add-back)67.05M118.34M102.49M113.84M120.13M108.19M97.33M81.56M73.53M75.46M
EBIT14.76M-375.06M37.36M78.33M-360.24M-177.31M-63.59M643.92M189.55M52.52M
Net Interest Income+-22.64M-28.71M-57.56M-52.21M-61.84M-66.79M-56.35M-52.11M-33.53M-12.91M
Interest Income1.09M1.55M3.7M4.86M1.38M177K0002.56M
Interest Expense23.74M30.27M62.31M57.07M63.23M66.97M56.35M52.11M33.53M15.47M
Other Income/Expense6.59M-32.23M-56.2M-63.51M-56.23M-38.07M-151.32M-68.74M-40.92M-1.13M
Pretax Income+-8.53M-214.29M9.11M111.15M-419.59M-222.42M-119.94M591.81M156.02M37.05M
Pretax Margin %-0.01%-0.14%0.01%0.05%-0.26%-0.19%-0.07%0.23%0.09%0.02%
Income Tax+49.94M-57.56M-10.92M27.67M-50.13M21.94M-4.56M147.98M57.54M16.25M
Effective Tax Rate %5.07%0.64%2.76%0.81%0.88%1.11%0.92%0.74%0.53%0.64%
Net Income+-43.27M-136.55M25.17M89.52M-369.45M-246.34M-110.62M440.31M82.66M23.54M
Net Margin %-0.03%-0.09%0.01%0.04%-0.23%-0.22%-0.06%0.17%0.05%0.01%
Net Income Growth %-2.13%-2.16%1.18%2.56%-5.13%0.33%0.55%4.98%-0.81%-0.72%
Net Income (Continuing)-58.47M-358.61M-772K15.11M-370.28M-244.36M-115.37M443.83M98.48M20.8M
Discontinued Operations0009.46M0-5.4M0000
Minority Interest141.82M125.56M121.73M116.14M118.08M114.5M106.05M106.75M121.83M113.74M
EPS (Diluted)+-0.43-0.79-0.000.52-2.18-1.13-0.542.320.460.03
EPS Growth %-2.1%-0.84%1%--5.19%0.48%0.52%5.3%-0.8%-0.93%
EPS (Basic)-0.43-0.79-0.000.52-2.18-1.13-0.542.340.460.03
Diluted Shares Outstanding99.7M171.84M171.95M171.53M169.15M169.26M176.51M189.63M190.29M188.81M
Basic Shares Outstanding99.7M171.79M171.95M171.41M169.15M169.26M176.51M187.82M187.87M188.15M
Dividend Payout Ratio---0.23%-----0.41%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+851.76M809.81M770.52M882.66M818.14M657.24M804.27M1.29B1.04B817.6M
Cash & Short-Term Investments120.78M201.03M264.63M216.56M100.4M132.56M114.5M317.94M136.47M138.47M
Cash Only116.67M196.98M184.47M216.56M94.85M131.56M114.39M317.94M136.47M132.97M
Short-Term Investments4.11M4.05M80.16M05.54M1.01M104K3K2K5.5M
Accounts Receivable295.48M247.46M133.19M197.63M339.95M257.41M394.79M440.18M334.69M286.5M
Days Sales Outstanding81.9257.1527.9131.7277.482.18161.8474.0463.61
Inventory425.19M312.8M361.91M459.26M354.12M246.55M271.86M480.56M383.84M347.14M
Days Inventory Outstanding175.2196.74115.02107.1897.995.3677.39128.35147.04114.92
Other Current Assets10.13M100.58M9.42M5.14M10.26M10.06M4.9M28.33M170.25M36.22M
Total Non-Current Assets+1.55B1.45B1.26B1.29B916.21M689.91M719.06M671.02M721.81M654.84M
Property, Plant & Equipment1.01B900.2M917.97M929.42M740.91M620.03M554.91M486.25M501.4M487.2M
Fixed Asset Turnover1.30x1.76x1.90x2.45x2.16x1.85x3.21x5.34x3.29x3.37x
Goodwill403.93M402.49M236.46M202.85M29.7M29.7M29.7M29.7M29.7M14.22M
Intangible Assets71.62M62.84M57.14M65.85M51.27M20.76M100.64M111.8M138.34M103.09M
Long-Term Investments3.66M15.67M6.68M72.86M33.19M7.51M4.09M14.19M14.07M14.74M
Other Non-Current Assets26.63M22.94M36.23M19.18M1.6M11.9M22.7M21.95M29.54M29.01M
Total Assets+2.41B2.26B2.03B2.18B1.73B1.35B1.52B1.96B1.76B1.47B
Asset Turnover0.55x0.70x0.86x1.04x0.92x0.85x1.17x1.33x0.94x1.12x
Asset Growth %0.73%-0.06%-0.1%0.07%-0.2%-0.22%0.13%0.29%-0.1%-0.16%
Total Current Liabilities+492.69M572.98M391.67M495.47M397.46M432.79M653.63M678.5M494M448.61M
Accounts Payable143.39M157.71M192.86M241.94M189.23M149.2M201M219.02M182.95M157.89M
Days Payables Outstanding59.0948.7861.2956.4652.3157.7157.2258.570.0852.27
Short-Term Debt131.91M243.41M100.36M71.65M57.83M156.56M35.36M134.51M50.1M98.26M
Deferred Revenue (Current)1000K1000K2K1000K000000
Other Current Liabilities126.83M187.75M118.85M134.27M123.84M101.12M389.88M256.21M136.81M97.37M
Current Ratio1.73x1.41x1.97x1.78x2.06x1.52x1.23x1.90x2.10x1.82x
Quick Ratio0.87x0.87x1.04x0.85x1.17x0.95x0.81x1.19x1.32x1.05x
Cash Conversion Cycle198.03105.1181.6482.44122.99119.75101.17131.7150.99126.26
Total Non-Current Liabilities+618.4M596.85M664.55M736.86M734.6M548.64M549.68M522.53M394.88M189.59M
Long-Term Debt223.68M265.24M350.3M483.8M521.96M380.99M408.61M380.09M223.71M31.1M
Capital Lease Obligations89.77M3.38M69.71M53.47M16.97M13.99M9.97M12.94M54.48M56.59M
Deferred Tax Liabilities206.65M159.14M65.41M68.57M74.06M27.78M25.14M35.85M32.58M19.63M
Other Non-Current Liabilities93.92M88.39M123.97M124.28M120.36M125.25M105.06M89.81M57.13M62.01M
Total Liabilities1.11B1.17B1.06B1.23B1.13B981.43M1.2B1.2B888.88M638.2M
Total Debt+509.43M507.91M433.91M560.08M596.76M551.55M462.32M536.47M340.05M198.82M
Net Debt392.76M310.93M249.43M343.51M501.91M419.99M347.93M218.54M203.58M65.85M
Debt / Equity0.39x0.42x0.40x0.53x0.99x1.51x1.44x0.71x0.39x0.24x
Debt / EBITDA9.81x-2.57x1.92x5.60x-3.59x0.72x1.26x1.75x
Net Debt / EBITDA7.56x-1.48x1.18x4.71x-2.70x0.29x0.75x0.58x
Interest Coverage-0.64x-6.02x1.06x3.11x-0.22x-2.75x0.56x12.68x5.87x2.47x
Total Equity+1.29B1.22B1.09B1.06B602.3M365.72M320.03M756.81M869.89M834.25M
Equity Growth %1.55%-0.06%-0.1%-0.03%-0.43%-0.39%-0.12%1.36%0.15%-0.04%
Book Value per Share12.997.096.356.183.562.161.813.994.574.42
Total Shareholders' Equity1.15B1.09B970.78M943.79M484.22M251.22M213.98M650.06M748.06M720.51M
Common Stock1.29B1.79M1.8M1.78M1.78M1.78M1.96M1.96M1.96M1.96M
Retained Earnings-43.27M-338.43M-678K43.66M-280.6M-246.34M0000
Treasury Stock00000000-11.93M-14.36M
Accumulated OCI-92.37M1.1B814.91M722.78M763.04M495.77M317.12M110.83M580.79M614.52M
Minority Interest141.82M125.56M121.73M116.14M118.08M114.5M106.05M106.75M121.83M113.74M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+145.45M114.43M161.17M76.31M-65.49M154.27M-1.34M405.02M178.37M243.26M
Operating CF Margin %0.11%0.07%0.09%0.03%-0.04%0.13%-0%0.16%0.11%0.15%
Operating CF Growth %-0.24%-0.21%0.41%-0.53%-1.86%3.36%-1.01%303.03%-0.56%0.36%
Net Income-58.47M-156.74M20.02M83.48M-288.1M-194.07M-100.33M443.83M82.66M20.8M
Depreciation & Amortization67.05M130.17M104.53M119.14M123.01M108.19M97.33M81.56M73.53M75.46M
Stock-Based Compensation002.38M2.8M4.88M2.02M3.63M5.84M7.4M4.92M
Deferred Taxes49.94M-57.56M-10.92M27.67M-49.12M17.09M-4.56M147.98M57.54M16.25M
Other Non-Cash Items8.06M26.86M-3.17M-59.4M115.86M105.05M137.38M45.23M-31.25M27.83M
Working Capital Changes132.89M143.14M48.31M-97.37M27.97M116.02M-134.79M-319.42M-11.51M97.99M
Change in Receivables60.72M36.89M131.76M-26.6M35.66M71.03M-161.43M-94.24M126.46M155.49M
Change in Inventory89.2M103.24M-15.84M-103.29M85.46M114.58M-60.3M-220.82M102.18M47K
Change in Payables-17.03M30.66M20.08M55.41M-70.85M-55.41M64.38M30.64M-70.57M-17.25M
Cash from Investing+17.97M-81.06M-79M-87.98M161.21M-31.94M-23.85M-51.77M-81.81M-66.94M
Capital Expenditures-73.06M-75.22M-79.16M-111.56M-32.91M-32.91M-27.6M-52.15M-83.68M-76.17M
CapEx % of Revenue0.06%0.05%0.05%0.05%0.02%0.03%0.02%0.02%0.05%0.05%
Acquisitions----------
Investments----------
Other Investing1.49M-3.48M503K23.42M11.37M971K3.75M373K1.87M9.23M
Cash from Financing+-87.59M49.92M-113.22M53.3M-180.97M-113.33M10.45M-140.46M-282.15M-175.51M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-21.48M-54.99M0-20.64M00000-9.76M
Share Repurchases----------
Other Financing-1.31M61.76M-40.9M-94.66M-23.64M-45.31M-65.93M-22.7M-63.87M-29.27M
Net Change in Cash----------
Free Cash Flow+72.39M39.2M82.01M-35.25M-98.41M121.36M-28.94M351.72M91.91M167.09M
FCF Margin %0.05%0.02%0.05%-0.02%-0.06%0.11%-0.02%0.14%0.06%0.1%
FCF Growth %-0.47%-0.46%1.09%-1.43%-1.79%2.23%-1.24%13.15%-0.74%0.82%
FCF per Share0.730.230.48-0.21-0.580.72-0.161.850.480.88
FCF Conversion (FCF/Net Income)-3.36x-0.84x6.40x0.85x0.18x-0.63x0.01x0.92x2.16x10.33x
Interest Paid00000000026.19M
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-4.8%-10.86%2.18%8.32%-44.45%-50.9%-32.26%81.78%10.16%2.76%
Return on Invested Capital (ROIC)-0.85%-8.49%3.47%9.69%-0.81%-14.63%3.24%60.29%14.42%2.9%
Gross Margin32.72%25.33%34.06%31.23%17.64%17.54%27.92%47.39%42.25%32.93%
Net Margin-3.29%-8.64%1.44%3.94%-23.05%-21.52%-6.22%16.95%5.01%1.43%
Debt / Equity0.39x0.42x0.40x0.53x0.99x1.51x1.44x0.71x0.39x0.24x
Interest Coverage-0.64x-6.02x1.06x3.11x-0.22x-2.75x0.56x12.68x5.87x2.47x
FCF Conversion-3.36x-0.84x6.40x0.85x0.18x-0.63x0.01x0.92x2.16x10.33x
Revenue Growth-7.09%20.05%10.2%30.56%-29.51%-28.61%55.44%46.04%-36.49%-0.37%

Revenue by Segment

20172018201920202021202220232024
Silicon Metal Product Line739.62M933.37M539.87M463.22M637.7M1.12B722.23M726.65M
Silicon Metal Product Line Growth-26.20%-42.16%-14.20%37.67%75.04%-35.30%0.61%
Manganese Alloys Product Line363.64M527.76M447.31M267.47M469.14M525.48M259.2M332.85M
Manganese Alloys Product Line Growth-45.13%-15.24%-40.21%75.40%12.01%-50.67%28.41%
Ferrosilicon Product Line266.86M359.37M275.37M176.45M337.83M561.54M330.95M272.39M
Ferrosilicon Product Line Growth-34.67%-23.38%-35.92%91.46%66.22%-41.06%-17.69%
Other Product Lines147.05M156.6M137.4M84.6M140.08M170M144.42M148.99M
Other Product Lines Growth-6.49%-12.26%-38.43%65.59%21.36%-15.05%3.17%
Other Silicon Based Alloys Product Line188.18M215.7M181.74M126.82M161.75M192.41M159.44M131.74M
Other Silicon Based Alloys Product Line Growth-14.62%-15.74%-30.22%27.55%18.95%-17.13%-17.37%
Silica Fume Product Line36.34M37.06M33.54M25.89M32.41M32.29M33.8M31.32M
Silica Fume Product Line Growth-1.99%-9.50%-22.81%25.19%-0.37%4.69%-7.34%
Energy Product Line-44.19M------
Energy Product Line Growth--------

Revenue by Geography

20172018201920202021202220232024
USA----515.1M966.16M670.85M573.64M
USA Growth-----87.57%-30.56%-14.49%
World----335.93M484.04M333.67M406.84M
World Growth-----44.09%-31.07%21.93%
Germany----292.77M442.33M276.33M282.2M
Germany Growth-----51.08%-37.53%2.12%
Other EU Countries----176.05M162.37M199.79M211.72M
Other EU Countries Growth------7.77%23.04%5.97%
Spain----251.53M282.39M169.39M169.54M
Spain Growth-----12.27%-40.01%0.09%
France----130.81M148.74M--
France Growth-----13.71%--
Italy----76.72M111.89M--
Italy Growth-----45.84%--
U547.31M674.24M533.76M404.63M----
U Growth-23.19%-20.84%-24.19%----
World Other Than European And U S259.77M339.15M217.79M205.32M----
World Other Than European And U S Growth-30.56%-35.78%-5.73%----
D245.15M359.74M249.91M191.11M----
D Growth-46.74%-30.53%-23.53%----
European Countries Other Than Spain Germany Italy340.88M487.34M329.99M167.93M----
European Countries Other Than Spain Germany Italy Growth-42.97%-32.29%-49.11%----
E253.99M274.77M183.97M133.37M----
E Growth-8.18%-33.05%-27.50%----
I94.59M138.8M99.8M42.07M----
I Growth-46.73%-28.10%-57.85%----

Frequently Asked Questions

Valuation & Price

Ferroglobe PLC (GSM) has a price-to-earnings (P/E) ratio of 165.7x. This suggests investors expect higher future growth.

Growth & Financials

Ferroglobe PLC (GSM) reported $1.37B in revenue for fiscal year 2024. This represents a 7% decrease from $1.48B in 2012.

Ferroglobe PLC (GSM) saw revenue decline by 0.4% over the past year.

Ferroglobe PLC (GSM) reported a net loss of $117.9M for fiscal year 2024.

Dividend & Returns

Yes, Ferroglobe PLC (GSM) pays a dividend with a yield of 1.04%. This makes it attractive for income-focused investors.

Ferroglobe PLC (GSM) has a return on equity (ROE) of 2.8%. This is below average, suggesting room for improvement.

Ferroglobe PLC (GSM) generated $18.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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