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Metals & mining · Basic Materials · Fiscal year ends Dec 31
Constellium reported revenue of $8.4B in the fiscal year ended Dec 2025, up 15.2% from the year before. Operating income was $510M, an operating margin of 6.0%, and net income was $273M. Operating cash flow of $489M less capital expenditure of $330M left free cash flow of $159M. Net debt was $1.8B.
Ranks among the 22 metals & mining companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 8,532 | 7,826 | 7,335 | 8,449 |
| Cost of revenue | 7,569 | 6,771 | 6,397 | 7,262 |
| Gross profit | 963 | 1,055 | 938 | 1,187 |
| Research & development | 46.0 | 52.0 | 49.0 | 51.0 |
| Selling, general & admin | 284 | 317 | 313 | 332 |
| Operating incomederived: pre-tax income + interest | 246 | 333 | 234 | 510 |
| Interest expense | 96.0 | 101 | 99.0 | 102 |
| Pre-tax income | 150 | 232 | 135 | 408 |
| Income tax | −165 | 75.0 | 75.0 | 133 |
| Net income | 308 | 152 | 56.0 | 273 |
| Diluted EPS | 2.10 | 1.03 | 0.38 | 1.92 |
| Diluted shares | 147 | 148 | 148 | 142 |
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Cash & equivalents | 176 | 223 | 141 | 120 |
| Receivables | – | 418 | 381 | 611 |
| Inventory | – | 1,197 | 1,181 | 1,407 |
| Current assets | – | 1,992 | 1,834 | 2,322 |
| Net PP&E | – | 2,422 | 2,408 | 2,585 |
| Goodwill | – | 41.0 | 46.0 | 47.0 |
| Total assets | – | 4,933 | 4,734 | 5,354 |
| Payables | – | 1,025 | 959 | 1,222 |
| Deferred revenue | 79.0 | 68.0 | 65.0 | 113 |
| Current liabilities | – | 1,556 | 1,446 | 1,798 |
| Short-term debt | – | 41.0 | 39.0 | 39.0 |
| Long-term debt | – | 1,888 | 1,879 | 1,905 |
| Total liabilities | – | 4,191 | 4,007 | 4,383 |
| Shareholders' equity | 603 | 718 | 706 | 952 |
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Operating cash flow | 365 | 432 | 301 | 489 |
| Capital expenditure | 289 | 366 | 413 | 330 |
| Free cash flow | 76.0 | 66.0 | −112 | 159 |
| Depreciation & amortisation | 290 | 300 | 304 | 330 |
| Stock-based compensation | 18.0 | 22.0 | 25.0 | 19.0 |
| Acquisitions | 0.0 | 0.0 | −3.0 | 0.0 |
| Share buybacks | 0.0 | 0.0 | 79.0 | 115 |
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | −8.3% | −6.3% | 15.2% |
| Operating income growth (YoY) | – | 35.4% | −29.7% | 117.9% |
| EPS growth (YoY) | – | −51.0% | −63.1% | 405.3% |
| Gross margin | 11.3% | 13.5% | 12.8% | 14.0% |
| Operating margin | 2.9% | 4.3% | 3.2% | 6.0% |
| Net margin | 3.6% | 1.9% | 0.8% | 3.2% |
| Return on equityBlank when equity is negative | 51.1% | 21.2% | 7.9% | 28.7% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 9.9% | 7.1% | 14.3% |
| Free cash flow margin | 0.9% | 0.8% | −1.5% | 1.9% |
| Cash conversion (CFO ÷ net income) | 1.19x | 2.84x | 5.38x | 1.79x |
| Receivable days | – | 19 | 19 | 26 |
| Inventory days | – | 65 | 67 | 71 |
| Payable days | – | 55 | 55 | 61 |
| Interest cover | 2.56x | 3.30x | 2.36x | 5.00x |
| Debt ÷ equity | – | 2.69x | 2.72x | 2.04x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | 1,706 | 1,777 | 1,824 |
| Current ratio | – | 1.28x | 1.27x | 1.29x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.