Constellium SE (CSTM)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$10.0B

Revenue growth

26.1%

Net income, last twelve months

$574.0M

Earnings per share

$4.09

Gross margin

16.1%

Net margin

5.7%

Free cash flow

$319.0M

Return on equity

43.0%

Market value

$3.3B

Price to earnings

6.0x

Cash

$158.0M

Debt

$1.8B

Debt to equity

1.36

Shares outstanding

134.5M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the third quarter 2026 results, filed 28 October 2026.

• Revenue up 22% on higher prices. Revenue was $2.6 billion, up 22%, from higher revenue per ton including metal prices, partly offset by shipments of 368 thousand metric tons, down 1%.
• Net income rose to $119 million. Net income was $119 million against $88 million a year earlier. Management attributed the increase mainly to higher gross profit, partly offset by other gains and losses.
• Adjusted EBITDA up $41 million. Adjusted EBITDA was $276 million, up $41 million, on stronger A&T and P&ARP results and lower corporate costs, partly offset by AS&I, the metal price lag change and foreign exchange.
• Nine-month results higher. Nine-month revenue was $7.8 billion, up 26%. Adjusted EBITDA was $1.1 billion, including a $222 million positive non-cash metal price lag impact, on shipments down 1%.
• A&T Segment EBITDA up 13%. A&T Segment Adjusted EBITDA was $102 million, up 13%, on higher shipments and favorable price and mix, partly offset by higher operating costs and unfavorable foreign exchange.
• P&ARP Segment EBITDA up 98%. P&ARP Segment Adjusted EBITDA was $162 million, up 98%, on favorable price and mix and metal costs at Muscle Shoals and Neuf-Brisach, including the recycling center ramp in France.
• AS&I Segment EBITDA fell 36%. AS&I Segment Adjusted EBITDA was $21 million, down 36%, on lower shipments and unfavorable price and mix, partly offset by lower operating costs.
• Holdings and Corporate costs lower. Holdings and Corporate cost $5 million in the quarter, against $9 million a year earlier. The company cited lower corporate costs as a driver of group Adjusted EBITDA.
• A&T shipments up 18%. A&T shipments were 59 thousand metric tons, up 18%, on higher aerospace and TID rolled products, which management said benefited from an improved market environment.
• Packaging rolled shipments fell. P&ARP shipments were 266 thousand metric tons, down 3%, mainly on lower packaging rolled products.
• Automotive rolled revenue higher. Automotive rolled products revenue was $409 million in the third quarter, against $298 million a year earlier.
• Metal price lag turned negative. Metal price lag was a $4 million negative non-cash impact, against a $39 million positive impact a year earlier, reflecting falling primary aluminum prices in the quarter.
• A&T operating costs rose. A&T operating costs rose with higher activity levels, and foreign exchange translation was unfavorable, partly offsetting the segment's higher shipments.
• AS&I margin hit by customer compensation. AS&I price and mix were unfavorable, driven mainly by net customer compensation for underperformance of an automotive program received in the third quarter of 2025.

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2025

By product, FY2025

By region, FY2025

Company events

The newest 8-K filings of 14 held.

Every filing

The newest filings with the SEC of 309 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

418 funds held it at 30 Jun 2026: 244 added and 110 trimmed in the quarter. The largest:

What the company does

Constellium SE is a Societas Europaea incorporated under French law, with its head office in Paris. It develops, makes and sells rolled and extruded aluminum products for the aerospace, space, defense, packaging, automotive, commercial transportation and general industrial end-markets. Its business is converting aluminum into semi-fabricated products, and in some cases fully-fabricated alloyed products, that meet customer performance requirements. At 31 December 2025 it had 24 manufacturing facilities, 3 research and development centers and 3 administrative centers, and it employed approximately 11,500 people.

How the business is organised

The company reports three operating segments: Aerospace & Transportation (A&T), Packaging & Automotive Rolled Products (P&ARP) and Automotive Structures & Industry (AS&I). A Holdings and Corporate line holds incidental revenues and unallocated corporate activities.

What it sells

A&T supplies plate, sheet and extrusions to aerospace, space, defense, commercial transportation and general industrial customers. It has developed Airware, an aluminum-lithium alloy for aerospace, space and defense customers. Its facilities are qualified by external certification organizations including the National Aerospace and Defense Contractors Accreditation Program.

P&ARP makes rolled aluminum sheet. For packaging it supplies canstock and closure stock for beverages and food, and foilstock for flexible packaging. For automotive it supplies Auto Body Sheet, heat exchanger materials and battery foil. It also recycles aluminum scrap, including used beverage cans, in North America and Europe.

AS&I makes automotive structural parts such as crash management systems, body structures, side impact beams and battery enclosure components. It also produces soft and hard alloy extrusions and large profiles for rail and general industrial uses. It offers pre-machining, surface treatment and technical support alongside these products.

How it handles metal and energy

The company's products are priced from three parts: the London Metal Exchange price, a regional premium and a conversion margin. It says it does not speculate on metal prices. Where it can match purchases to sales, it uses back-to-back arrangements with customers. Where it cannot, it uses derivative financial instruments to pass the exposure to financial institutions. For a small portion of volumes, customers own the aluminum, so the company carries no metal price risk.

A majority of its rolling slab and extrusion billet needs is produced in its own casthouses. The rest comes from external suppliers under long-term contracts, and its top 10 metal suppliers accounted for approximately 49% of metal purchases by volume. The company does not mine, refine bauxite or smelt aluminum. Natural gas and electricity are among its largest operating costs, after metal, labor and depreciation, and it fixes much of its energy cost through forward contracts.

Who buys from it

- Most contracts with the largest aerospace customers are multi-year. - Commercial transportation and defense contracts typically run one to three years. - General industrial contracts tend to run one year or less. - Packaging and automotive contracts are typically multi-year. - Automotive structures contracts usually cover the lifetime of a vehicle model.

Products go through customer qualification processes that the company says create high switching costs. It sells mainly direct, and in some cases through distributors. Its sales force is based in the United States, in Europe (France, Germany, Czech Republic, United Kingdom and Switzerland) and in Asia (China, Japan and South Korea). Volumes are lowest in August and December and highest from January to July.

Where it operates and how it competes

The company says it has operations in the United States, France, Germany, Switzerland, the Czech Republic, Slovakia, Spain, Mexico, Canada and China. Its three research and development centers are in Voreppe in France, Plymouth in Michigan and Brunel University in London. It holds more than 270 active patent families and says no single one is critical to the business.

The company describes the industry as highly competitive. Aluminum also competes with steel, glass, plastics and composite materials in various uses.

Its people

Approximately 90% of employees work in production and maintenance and approximately 10% in support functions. By location, 26% are in the United States, 35% in France, 20% in Germany, 5% in Switzerland and 14% in Eastern Europe and other regions. The company also contracted with approximately 500 temporary workers. About 50% of United States employees and a majority of non-US employees are covered by collective bargaining agreements. Training runs through Constellium University, the company's global learning program. Ingrid Joerg became Chief Executive Officer on 1 January 2026.

*From Constellium's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1563411/000156341126000057/cstm-20251231.htm)*

From the company's 10-K.