Voestalpine AG (VOE) Fair Value & Analysis
Basic Materials · AT · Market cap €7.7B · ISIN AT0000937503
What is Voestalpine AG really worth?
A solid business, but trading 29% above our fair value of €36.18.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 24 valuation models · updated 7 days ago
Share price +0.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€25.43 to €49.76) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range €15.40 – €48.13 · fair‑value band €25.43 – €49.76 · the €46.72 price screens above the €36.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Voestalpine AG (VOE) currently trades at €46.72, while our model-based Fair Value estimate is €36.18, implying the stock looks roughly 29.1% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Basic Materials sector. Bull case: the Multiples group reads highest at a median of €42.11 per share, and 7 of the 24 models we run sit above the €46.72 price. Bear case: the Dividend Discount group reads lowest at €5.74, and 17 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Voestalpine AG generated revenue of €15.1B at a net margin of 1.5%. Revenue declined 4.1% year over year. It earns a return on equity of 3.1%. Net debt stands at €1.0B. Fundamentals as of Aug 29, 2026
Our scenario range runs from €25.43 (bear case) to €49.76 (bull case); at €46.72, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 117% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −22% fair-value upside, at −23%, VOE screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly €0.7269 per share, which is 2.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Multiples (€42.11) versus Dividend Discount (€5.74). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 61
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Voestalpine AG processes, develops, manufactures, and sells steel and technology products in Austria, the European Union, and internationally. It operates through five divisions: Steel Division, High Performance Metals Division, Metal Engineering Division, Metal Forming Division, and Holding & Group Services.
Full company description
Voestalpine AG processes, develops, manufactures, and sells steel and technology products in Austria, the European Union, and internationally. It operates through five divisions: Steel Division, High Performance Metals Division, Metal Engineering Division, Metal Forming Division, and Holding & Group Services. The Steel division produces hot and cold-rolled steel strips, as well as electrogalvanized, hot-dip galvanized, and organically coated steel strips; heavy plates, and foundry products for the energy sector; and turbine casings. The High Performance Metals division offers special high-alloy tool and high-speed steel for the oil and natural gas, aerospace, and energy engineering industries; utilizing nickel-base and titanium alloys; tool manufacturing, component processing, heat treatment, and coating services; warehousing and preprocessing of special steels; and various services, including logistics, distribution, and processing for the oil and natural gas industries. The Metal Engineering division provides wire rods and drawn wires, seamless tubes for special applications, and welding consumables and machinery; rails and digital monitoring systems; and services related to rail infrastructure. The Metal Forming segment manufactures refined special sections, tubes, and precision strip steel products; pre-finished system components made from pressed, punched, and roll-profiled parts; and storage system solutions for manufacturers in the automotive production and supply industries, as well as various companies in the commercial vehicle, construction, storage, energy, and agricultural machinery industries. It serves automotive, energy, railway systems, construction, mechanical engineering, white goods/consumer goods, aerospace, and other industries. Voestalpine AG is headquartered in Linz, Austria.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Voestalpine AG reported revenue of €15.1B in FY2026 versus €14.9B in FY2022, a compound +0.2%/yr. Reported net income was €425M in FY2026, compounding −24.4%/yr from FY2022.
VOE screens 29% overvalued. Compare with Nucor Corporation →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- voestalpine AG (VLPNY) (Q1 2027) Earnings Call Highlights: Strategic Resilience Amid Market ...
- Despite Fast-paced Momentum, Voestalpine (VLPNY) Is Still a Bargain Stock
- Are Investors Undervaluing Voestalpine (VLPNY) Right Now?
- Should Value Investors Buy Voestalpine (VLPNY) Stock?
Peer Group
Steel · 398 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Steel median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nucor Corporation NUE | $250.50 | $116.05 | −54% |
| ArcelorMittal S.A MT | €64.60 | €46.04 | −29% |
| JSW Steel Limited JSWSTEEL | ₹1,296 | ₹1,119 | −14% |
| Steel Dynamics, Inc STLD | $234.67 | $127.14 | −46% |
| 500228 500228 | ₹1,292 | ₹1,079 | −16% |
| Tata Steel Limited TATASTEEL | ₹186.80 | ₹145.39 | −22% |
| Reliance, Inc RS | $387.59 | $217.81 | −44% |
| Baoshan Iron & Steel Co 600019 | ¥5.91 | ¥8.07 | +37% |
| POSCO Holdings PKX | $63.13 | $85.21 | +35% |
| Jindal Steel & Power Limited JINDALSTEL | ₹1,114 | ₹429.44 | −61% |
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