Ferroglobe PLC (GSM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	-$0.06	-$0.07	-16.7%	—	$347.7M	—
Q4 25	-$0.07	-$0.06	+14.3%	—	$329.4M	—
Q3 25	$0.05	-$0.02	-140.0%	—	$311.7M	—
Q2 25	-$0.02	-$0.08	-300.0%	—	$386.9M	—
Q1 25	-$0.11	-$0.2	-81.8%	—	$307.2M	—
Q4 24	$0.01	$0.03	+200.0%	—	$367.5M	—
Q3 24	$0.21	$0.11	-47.6%	—	$433.5M	—
Q2 24	$0.05	$0.13	+160.0%	—	$451M	—
Q4 23	$0.04	$0.09	+125.0%	—	$376M	—
Q3 23	$0.19	$0.27	+42.1%	—	$416.8M	—
Q2 23	$0.12	$0.3	+150.0%	—	$456.4M	—
Q1 23	$0.04	$0.05	+25.0%	—	$400.9M	—
Q4 22	$0.21	$0.42	+100.0%	—	$448.6M	—
Q3 22	$0.68	$0.64	-5.9%	—	$593.2M	—
Q2 22	$0.84	$1.14	+35.7%	—	$840.8M	—
Q1 22	$0.73	$0.88	+20.5%	—	$715.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.91	—	—	$1.3B	—
FY24	—	$0.03	—	—	$1.6B	—
FY23	—	$0.44	—	—	$1.7B	—
FY22	—	$2.34	—	—	$2.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.6B	$1.7B	$2.2B	$1.6B	$1.1B	$1.8B	$2.6B	$1.7B	$1.6B	$1.3B
YoY change	+19.7%	+9.91%	+29.4%	-28%	-29.1%	+55.4%	+46%	-36.5%	-0.37%	-18.8%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.6B	1.7B	2.2B	1.6B	1.1B	1.8B	2.6B	1.7B	1.6B	1.3B
Cost of revenue	1.2B	1.1B	1.6B	1.3B	943.7M	1.3B	1.4B	952.8M	1.1B	1B
Gross profit	414.3M	590.6M	681.5M	280.7M	200.8M	496.7M	1.2B	697.2M	541.3M	316.6M
Gross margin	26.3%	34.1%	30.4%	17.4%	17.5%	27.9%	47.4%	42.3%	32.9%	23.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	296.4M	300M	338.9M	285M	214.8M	332.8M	404.3M	362.1M	409.5M	386.9M
Operating expenses	514.1M	516.3M	570.6M	456.5M	313.2M	452.5M	497.8M	463.7M	447.3M	421M
Operating income	-99.8M	74.3M	110.9M	-175.8M	-112.5M	31.2M	717.5M	222.2M	81.2M	-116M
Operating margin	-6.34%	4.29%	4.95%	-10.9%	-9.83%	1.76%	27.6%	13.5%	4.94%	-8.69%
Non-operating income, net	-276.7M	-31.7M	-23.1M	-174.1M	-43.2M	-2.2M	-67M	-32.8M	-26.3M	-43M
Pretax income	-405.3M	-15M	35.6M	-411.8M	-222.4M	-119.9M	591.8M	156M	37.1M	-174.6M
Income tax	-46.7M	-14.2M	20.5M	-41.5M	21.9M	-4.6M	148M	57.5M	16.3M	2.5M
Net income	-358.6M	-5.8M	24.6M	-285.6M	-249.8M	-115.4M	443.8M	98.5M	20.8M	-177.1M
Net margin	-22.8%	-0.34%	1.1%	-17.7%	-21.8%	-6.49%	17.1%	5.97%	1.27%	-13.3%
EBITDA	24.8M	178.5M	213M	-64.6M	-25.8M	36M	792.5M	292.4M	154.2M	-29.8M
EPS	-0.79	0.15	0.52	-1.67	-1.13	-0.54	2.34	0.44	0.03	-0.91
Diluted EPS	-0.79	0.15	0.52	-1.67	-1.13	-0.54	2.32	0.43	0.03	-0.91

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	416.8M	376M	391.9M	451M	433.5M	367.5M	307.2M	386.9M	311.7M	329.4M	347.7M	378.6M
Cost of revenue	214.6M	219.7M	278M	280.9M	274M	269.8M	255.9M	271.5M	200.4M	290.7M	240.1M	210.6M
Gross profit	202.2M	156.3M	113.9M	170.2M	159.6M	97.7M	51.3M	115.3M	111.3M	38.6M	107.7M	168M
Gross margin	48.5%	41.6%	29.1%	37.7%	36.8%	26.6%	16.7%	29.8%	35.7%	11.7%	31%	44.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	83.6M	136M	70.5M	67.2M	71.9M	199.9M	70.5M	68.8M	68.9M	178.8M	64.1M	68.1M
Operating expenses	125.8M	107.2M	111.3M	125.6M	119M	91.4M	107.3M	106.6M	113.3M	93.8M	115.4M	111.1M
Operating income	76.5M	37.8M	2.6M	44.6M	40.6M	-6.5M	-55.9M	8.7M	-2M	-66.8M	-7.7M	57M
Operating margin	18.3%	10.1%	0.65%	9.88%	9.37%	-1.76%	-18.2%	2.26%	-0.64%	-20.3%	-2.22%	15%
Non-operating income, net	223K	-28.5M	1.4M	3.6M	-6.6M	-24.6M	-6.6M	-19.5M	340K	-17.2M	1.8M	5.1M
Pretax income	67.5M	-3M	-3.7M	42.8M	31.9M	-33.9M	-66.3M	-14.7M	-4.7M	-88.9M	-11.1M	60.5M
Income tax	23.4M	4.2M	-1.2M	8.5M	13.3M	-4.4M	625K	-3.8M	8.6M	-2.9M	-4M	-48K
Net income	44.1M	-7.2M	-2.6M	34.3M	18.6M	-29.6M	-66.9M	-10.9M	-13.3M	-86M	-7.1M	60.6M
Net margin	10.6%	-1.91%	-0.66%	7.62%	4.28%	-8.04%	-21.8%	-2.83%	-4.26%	-26.1%	-2.05%	16%
EBITDA	95.5M	54.6M	19.8M	63.4M	59.5M	10.1M	-37.6M	28M	18.8M	-39.1M	9.6M	74.4M
EPS	0.22	-0.03	-0.01	0.18	0.1	-0.25	-0.36	-0.06	-0.07	-0.43	-0.04	0.32
Diluted EPS	0.21	-0.03	-0.01	0.18	0.1	-0.25	-0.36	-0.06	-0.07	-0.43	-0.04	0.32

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	2.8B	272.5M	159M	277.6M	1.1B	723.1M	1.2B	715M	874M	745.6M
Enterprise value	—	3.1B	675.3M	655.4M	725.4M	1.6B	941.6M	1.4B	775.3M	1000M	924M
Shares outstanding	171.8M	171.9M	171.4M	169.2M	169.3M	176.5M	187.8M	187.9M	188.1M	188.4M	188.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	11.1	—	—	—	1.63	12.4	34.4	—	6.35
P/S	—	1.61	0.12	0.1	0.24	0.62	0.28	0.74	0.43	0.65	0.55
P/B	—	2.97	0.31	0.26	0.76	3.43	0.96	1.41	0.86	1.26	1.05
EV/EBITDA	—	17.5	3.17	-10.1	-28.1	44.5	1.19	4.75	5.03	-33.5	16.8
EV/Sales	—	1.81	0.3	0.41	0.63	0.9	0.36	0.84	0.47	0.75	0.68
Earnings yield	—	—	9.02%	—	—	—	61.4%	8.05%	2.91%	—	15.7%
FCF yield	—	2.69%	2.7%	-40.1%	43.7%	-2.64%	48.6%	7.51%	22.9%	-1.35%	8.93%
PEG	—	—	—	—	—	—	—	—	—	—	-0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	26.3%	34.1%	30.4%	17.4%	17.5%	27.9%	47.4%	42.3%	32.9%	23.7%	44.4%
Operating margin	-6.34%	4.29%	4.95%	-10.9%	-9.83%	1.76%	27.6%	13.5%	4.94%	-8.69%	15%
Net margin	-22.8%	-0.34%	1.1%	-17.7%	-21.8%	-6.49%	17.1%	5.97%	1.27%	-13.3%	-2.96%
ROE	-40.2%	-0.62%	2.78%	-47.4%	-68.3%	-36.1%	58.6%	11.3%	2.49%	-25.6%	-5.99%
ROA	-17.8%	-0.29%	1.16%	-16.5%	-18.5%	-7.57%	22.7%	5.6%	1.41%	-12.5%	-0.76%
ROIC	-8.29%	5.79%	3.66%	-16%	-13.8%	3.78%	55.2%	13.5%	5.1%	-14.2%	-2.3%
Return on tangible assets	-25%	-0.4%	1.52%	-18.2%	-20%	-9.14%	26.5%	6.92%	1.68%	-15.7%	-4.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.37	1.54	1.77	2.06	1.52	1.23	1.9	2.1	1.82	1.66	1.29
Quick ratio	0.87	0.73	0.86	1.17	0.95	0.81	1.19	1.32	1.05	0.97	0.74
Debt / equity	0.58	0.57	0.7	0.99	1.51	1.94	0.71	0.35	0.24	0.38	0.35
Debt / assets	0.25	0.27	0.29	0.34	0.41	0.41	0.27	0.17	0.14	0.18	0.14
Net debt / EBITDA	12.6	1.94	1.89	-7.68	-17.4	14	0.28	0.57	0.39	-4.23	2.05
Interest coverage	-14.7	0.71	1.83	-6.98	-3.93	-1.13	12.4	6.19	3.39	-9.32	-1.64
Effective tax rate	0%	0%	57.5%	0%	0%	0%	25%	36.9%	43.9%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.17	10.1	13.1	9.55	6.76	10.1	13.8	8.78	8.74	7.09	7.26
EPS (basic)	-0.79	0.15	0.52	-1.67	-1.13	-0.54	2.34	0.44	0.03	-0.91	-0.91
EPS (diluted)	-0.79	0.15	0.52	-1.67	-1.13	-0.54	2.32	0.43	0.03	-0.91	-0.81
Book value per share	5.19	5.45	5.16	3.56	2.16	1.81	4.03	4.63	4.43	3.68	3.81
FCF per share	0.26	0.44	0.04	-0.38	0.72	-0.16	1.87	0.49	0.87	-0.06	-0.07
Cash per share	1.17	1.09	1.28	0.59	0.61	0.65	1.69	0.73	0.74	0.71	0.49
Capex per share	0.41	0.43	0.62	0.19	0.18	0.16	0.28	0.45	0.4	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.51%	4.31%	4.73%	2.01%	2.64%	1.55%	2.01%	5.07%	4.63%	—	—
Capex / operating cash flow	-64.8%	40.9%	148.1%	-16.2%	19.6%	13.5K%	13.4%	25.4%	33.2%	—	—
Payout ratio	-15.3%	0%	84%	0%	0%	0%	0%	0%	46.9%	-5.9%	7.61%
Dividend yield	—	0%	7.57%	0%	0%	0%	0%	0%	1.36%	1.2%	1.49%

Yield

1.49%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.015

ex-dividend Sep 22, 2026

Payout ratio

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 22, 2026	$0.015
Jun 22, 2026	$0.015
Mar 23, 2026	$0.015
Dec 22, 2025	$0.014
Sep 22, 2025	$0.014
Jun 18, 2025	$0.014
Mar 20, 2025	$0.014
Dec 20, 2024	$0.013

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$416.8M	$376M	$391.9M	$451M	$433.5M	$367.5M	$307.2M	$386.9M	$311.7M	$329.4M	$347.7M	$378.6M
YoY change	-29.7%	-16.2%	-2.25%	-1.18%	+4.01%	-2.25%	-21.6%	-14.2%	-28.1%	-10.4%	+13.2%	-2.13%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	201M	186.9M	219.2M	100.4M	103.7M	114.5M	317.9M	136.5M	138.5M	133.9M
Receivables	152.3M	67.9M	70.8M	232.5M	202.2M	321.9M	294.5M	220.3M	188.8M	191.5M
Inventory	315.7M	361.1M	455.8M	353.3M	246.2M	271.9M	480.6M	383.8M	347.1M	306.2M
Total current assets	861.7M	691.3M	882.6M	818.1M	657.2M	804.3M	1.3B	1B	817.6M	733.7M
Property, plant & equipment	721.6M	857.6M	829.5M	681.4M	560.7M	769.3M	427.4M	434.3M	417.5M	420M
Goodwill & intangibles	586.1M	527.9M	509.3M	161.9M	100.9M	260.7M	283M	336.1M	234.6M	290.3M
Total assets	2B	2B	2.1B	1.7B	1.3B	1.5B	2B	1.8B	1.5B	1.4B
Accounts payable	153.3M	172.6M	241.9M	189.1M	147.5M	201M	219M	182.9M	157.9M	144.7M
Short-term debt	245.3M	113.3M	84.7M	57.8M	156.6M	201.5M	143.4M	58.2M	111.1M	126.8M
Total current liabilities	626.8M	450.2M	499.1M	397.5M	432.8M	653.6M	678.5M	494M	448.6M	441.3M
Long-term debt	268.6M	420M	537.3M	538.9M	395M	418.6M	393M	244M	87.7M	133.1M
Total liabilities	1.1B	1.1B	1.2B	1.1B	981.4M	1.2B	1.2B	888.9M	638.2M	723.2M
Shareholders' equity	892M	937.8M	884.4M	602.3M	365.7M	320M	756.8M	869.9M	834.2M	692.3M
Total debt	513.9M	533.3M	621.9M	596.8M	551.5M	620.1M	536.5M	302.2M	198.8M	259.9M
Net debt	317M	348.8M	405.3M	501.9M	448.8M	505.7M	218.5M	165.7M	65.8M	137.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	161.8M	136.5M	159.5M	144.5M	123.7M	138.5M	137.8M	147.9M	133.8M	133.9M	96.2M	93.1M
Receivables	293.2M	220.3M	303.9M	297M	309.3M	188.8M	200.5M	221.1M	183.8M	191.5M	212.4M	221M
Inventory	383.5M	383.8M	361.6M	397.4M	407.8M	347.1M	314.8M	326M	369.4M	306.2M	334.3M	321.4M
Total current assets	1B	1B	866.7M	897.3M	904.2M	817.6M	794.4M	872M	820.5M	733.7M	760.2M	751.2M
Property, plant & equipment	—	434.3M	—	—	—	417.5M	—	—	—	420M	—	—
Goodwill & intangibles	300.6M	336.1M	446.6M	443.7M	321.8M	234.6M	385.6M	419.7M	284.5M	290.3M	421.6M	432.6M
Total assets	1.7B	1.8B	1.6B	1.7B	1.6B	1.5B	1.5B	1.7B	1.5B	1.4B	1.5B	1.5B
Accounts payable	166.6M	182.9M	178M	195.3M	188.4M	157.9M	176M	226.1M	224.8M	144.7M	207M	227.7M
Short-term debt	61.5M	58.2M	55.1M	68.8M	73.7M	111.1M	83.1M	109.2M	94.8M	126.8M	125.1M	130.9M
Total current liabilities	434.6M	494M	497.4M	549.2M	494.5M	448.6M	478.7M	558.8M	495.4M	441.3M	532M	583.4M
Long-term debt	176.8M	244M	69M	68.9M	72.1M	87.7M	92.1M	110.8M	118M	133.1M	114.8M	92.9M
Total liabilities	844M	888.9M	795.2M	794.6M	723.2M	638.2M	759.9M	848.2M	754.6M	723.2M	850.6M	831.6M
Shareholders' equity	859.7M	869.9M	843.7M	876M	915.7M	834.2M	780.6M	812.6M	786.8M	692.3M	670.5M	717.9M
Total debt	238.3M	302.2M	124.1M	137.7M	145.7M	198.8M	175.2M	220M	212.8M	259.9M	240M	223.8M
Net debt	76.8M	165.7M	-35.4M	-6.5M	25.2M	65.8M	45.9M	84.7M	91.5M	137.1M	143.8M	130.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-358.6M	-5.8M	24.6M	-285.6M	-249.8M	-115.4M	443.8M	98.5M	20.8M	-177.1M
Depreciation & amortization	125.7M	104.5M	119.1M	123M	108.2M	97.3M	81.6M	73.5M	75.5M	85M
Stock-based compensation	0	2.4M	2.8M	4.9M	2M	3.6M	5.8M	7.4M	4.9M	1.8M
Change in working capital	193.1M	39.3M	-123.2M	13.4M	200.1M	-127.5M	-350.1M	59.1M	98M	26.9M
Operating cash flow	-109.7M	182.4M	71.6M	-200.1M	154.5M	204K	387.9M	329.4M	229.6M	51.5M
Capital expenditure	-71.1M	-74.6M	-106.1M	-32.4M	-30.3M	-27.6M	-52.1M	-83.7M	-76.2M	—
Investing cash flow	-80.8M	-75.3M	-86.4M	164.4M	-29.9M	-24.1M	-52.1M	-82.7M	-66.7M	-13.4M
Dividends paid	-55M	0	-20.6M	0	0	0	0	0	-9.8M	-10.5M
Share repurchases	0	0	-20.1M	0	0	0	—	—	-2.4M	-4.7M
Financing cash flow	49.9M	-113.6M	53.1M	-181M	-75.4M	32.6M	-79.6M	-239.9M	-149.3M	16M
Net change in cash	-140.6M	-6.5M	38.3M	-216.7M	49.2M	8.8M	256.1M	6.7M	13.5M	54M
Free cash flow	45.1M	74.9M	7.3M	-63.8M	121.4M	-28.9M	351.7M	91.9M	164.1M	-11.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	44.1M	-7.2M	-2.6M	34.3M	18.6M	-29.6M	-66.9M	-10.9M	-13.3M	-86M	-7.1M	60.6M
Depreciation & amortization	19M	20.1M	18.7M	18.9M	18.9M	19M	17.5M	18.3M	20M	29.2M	16.6M	15.5M
Stock-based compensation	2.8M	683K	928K	913K	1.5M	1.6M	1.3M	692K	-82K	-92K	947K	-1.6M
Change in working capital	-97.8M	-24.2M	172M	-53.3M	-42.8M	22.2M	57.5M	-214K	2.9M	-33.2M	-12.2M	19.3M
Operating cash flow	640K	6.3M	194.8M	14.4M	11.4M	8.9M	12.3M	15.6M	20.8M	-4.3M	-5.6M	37M
Capital expenditure	-18.9M	-24.2M	-17.6M	-21.1M	-20.3M	-17.1M	-12.2M	—	—	—	—	—
Investing cash flow	-18.9M	-24.2M	-17.6M	-24.1M	-20.3M	-17.1M	-23.3M	-4M	0	0	-7M	0
Dividends paid	0	0	-2.4M	-2.4M	-2.4M	-2.4M	-2.6M	-2.6M	-2.6M	-2.6M	-2.8M	-2.8M
Share repurchases	0	—	—	—	-492K	-1.9M	-2.7M	-2M	0	0	-20K	0
Financing cash flow	-301.6M	-31.1M	-141.6M	9.6M	-9.4M	-7.8M	1.7M	6.4M	-13.5M	21.5M	-808K	-22.2M
Net change in cash	-319.8M	-49M	35.6M	-204K	-18.4M	-16M	-9.3M	18M	7.2M	17.2M	-13.4M	14.7M
Free cash flow	-28.1M	3.2M	179.8M	-19.9M	-10M	14.1M	5.1M	15K	1.6M	-18.5M	-16.4M	20.4M

Ferroglobe PLC Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement