thyssenkrupp AG (TYEKF)
SobrevaloradaFundamental
39
Precio
$14.64
Capitalización Bursátil
$9.13B
Parte 1 · Cuánto vale la empresa
Resumen
thyssenkrupp is a German industrial group built from five largely separate businesses: it makes steel, distributes metals and other industrial materials, builds submarines and naval systems, supplies components to carmakers, and develops technology for lower-carbon industrial processes. Unlike a focused manufacturer, its businesses share little beyond the parent's engineering heritage, and the group has been selling and restructuring divisions as part of an ongoing transformation.
Cómo genera ingresos
Each segment sells physical products or engineering services and books revenue on delivery: steel and distributed materials are largely priced on commodity markets, while marine systems and automotive components are sold under multi-year contracts and supply agreements with automakers and navies. Because the segments serve very different customers and price mechanisms, group revenue is really the sum of five distinct businesses rather than one coherent model.
Ingresos por segmento
Distribution of metals, raw materials and related logistics and processing services to industrial customers, one of the largest materials distributors globally.
Production of flat steel products for automotive, construction and other industrial customers; Germany's largest steel producer.
Chassis, powertrain and other components supplied to carmakers under multi-year contracts.
Engineering and plant technology for chemical, cement and other industrial processes, including lower-carbon production methods.
Design and construction of submarines and surface naval vessels, mainly for the German navy and export customers.
Qué impulsa la demanda
CíclicoSteel, industrial materials and automotive components are classic cyclical businesses: the company's own results showed weaker demand and lower prices across Automotive Technology, Materials Services and Steel Europe in fiscal 2024/2025 as customer order intake softened. Marine Systems, tied to government defense budgets, moves on a different, less economically sensitive cycle.
Riesgos clave
- Automotive demand dependency — Customer demand in Automotive Technology was restrained in fiscal 2024/2025 as the automotive sector itself went through a weak period, directly cutting order intake for the segment.
- Steel demand and pricing pressure — Steel Europe and Materials Services were hit by both weaker demand and lower prices in fiscal 2024/2025, reflecting a broader steel market environment the company describes as persistently difficult.
- Heavy decarbonization capital spending — The group's hydrogen-based steelmaking project (tkH2Steel) requires around €3 billion of investment, of which €2 billion has been secured as government funding, leaving the rest to be financed while the plant is not yet generating revenue.
Los argumentos a favor
Buyers argue that Materials Services' position as one of the world's leading materials distributors and Steel Europe's scale as Germany's largest steel producer give thyssenkrupp negotiating leverage that smaller regional players lack, and that government-backed funding for its hydrogen steelmaking transition reduces the capital burden of decarbonizing.
Los argumentos en contra
Sellers worry that three of the group's five segments — Automotive Technology, Steel Europe and Materials Services — are simultaneously exposed to weak, price-pressured industrial demand, and that a multi-billion-euro decarbonization investment must be funded and completed before it can generate a return.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance y Liquidez
Ingresos
$32.63B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Beneficio Neto
$288M
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Flujo de Caja Libre
$-902M
Patrimonio Neto Total
$9.72B
Pasivo Total
$772M
Ratio de Liquidez
1.62
Cobertura de Intereses
-
Deuda/EBITDA
1.84
Beneficio Por Acción
Ingresos y Beneficio Neto
Flujo de Caja Libre
Desglose de Ingresos
Estado histórico
Márgenes en el tiempo
La deuda en el tiempo
Cuánto pesa la deuda
Cuadro de crecimiento
Crecimiento — Ingresos
Estimación de Valor Justo
Valor Justo
$12.06
Precio Actual
$14.64
Margen de Seguridad
-21.4%
Rango de Valor Justo
$7.84 - $16.28
Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.
Métodos de Estimación
Métricas de Valoración
Ratio P/E
31.64
ROE
3.3%
Ratio P/B
0.94
P/FCF
-
Margen Bruto
12.1%
ROIC
2.4%
Radar de Rentabilidad
Creación de Valor (Ventaja Competitiva)
ROIC
2.4%
WACC
13.1%
ROIC − WACC
-10.8 pp
El ROIC está por debajo del coste del capital: la empresa destruye valor por cada dólar invertido.
Criterios de Análisis Fundamental
Superado (8)
- P/B Ratio 0.94
- Debt/Equity ratio
- Current Ratio
- Debt/EBITDA
- Analyst Consensus 69% Buy
- Earnings Surprise avg 165.9%
- Earnings Quality (OCF/NI) 0.77
- Net Margin Trend 1.4% vs -4.3%
Fallido (10)
- Price CAGR -1.56%
- ROIC 2.3%
- Gross Margin 12.1%
- Operating Margin -0.5%
- Positive Free Cash Flow
- Price below Graham Number
- DCF valuation (Unknown)
- ROE 3.0%
- Revenue Growth 5Y 2.6%
- Piotroski F-Score 1/9
No disponible (9)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- PEG Ratio (need PE > 0 and growth > 0)
- Share Dilution (missing shares data)
Piotroski F-Score
Preocupaciones financieras graves
Calidad de los Beneficios
Moderada: cierta brecha entre beneficios y efectivo
Dilución de Acciones
Recomprando acciones. Favorable para el accionista
Participaciones institucionales
No hay declaraciones institucionales para esta empresa.
Gobernanza
Equipo Directivo
| Nombre | Cargo | Edad |
|---|---|---|
| Mr. Miguel Angel Lopez Borrego | CEO & Chairman of the Executive Board | 60 |
| Dr. Volkmar Dinstuhl | CEO of Multi Tracks and Automotive Technology segment & Member of Executive Board | 53 |
| Ms. Ilse Irene Henne | Member of Executive Board | 53 |
| Dr. Axel Hamann | CFO & Member of Executive Board | 51 |
| Mr. Wilfried von Rath | Chief Human Resources Officer & Member of Executive Board | 61 |
| Mr. Thomas S. Empelmann | Head of Corporate Finance | - |
| Mr. Andreas Trösch | Head of Investor Relations | 58 |
| Dr. Stefan Schmitt | Head of Corp. Function HR Strategy and Head of Corp. Function People Dev & Executives Management | 49 |
| Mr. Peter Walker | Chief Executive Officer of Elevator Technology Business Area | 62 |
| Mr. Volker Hellberg | Chief Executive Officer of Industrial Solutions Unit - Saudi Arabia | - |
Riesgo de Auditoría
5
Riesgo del Consejo
2
Riesgo de Compensación
2
Riesgo de Derechos del Accionista
9
Parte 2 · El precio y el momento de entrar
Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.
Latest News
Recent headlines for TYEKF, sourced from Markets Gazette.