Constellium SE
- Open
- 26.90
- Day high
- 27.45
- Day low
- 26.55
- Prev close
- 26.91
- Volume
- 1.6M
- Mkt cap
- $3.6B
- P/E (TTM)
- 6.7
- EPS (TTM)
- $3.99
- P/B
- 2.9
- P/S
- 0.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$239K over the last 3 months (1 open-market buy, 1 sale)
- 🏛Institutions accumulating (13F)
Constellium SE (CSTM) is a Basic Materials company listed on NYSE. The stock is up 93% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 1 sale (SEC Form 4). Drillr has 2 published research articles covering CSTM.
Constellium SE (CSTM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CSTM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 29, 2026 | $0.86 | $1.04 | +21.4% | $2.7B | +1.1% |
| Apr 29, 2026 | $0.62 | $1.42 | +129.0% | $2.5B | +1.5% |
| Feb 18, 2026 | $0.36 | $0.80 | +122.2% | $943M | -61.4% |
| Oct 29, 2025 | $0.32 | $0.62 | +96.8% | $2.2B | +21.1% |
| Jul 29, 2025 | $0.28 | $0.25 | -10.7% | $2.5B | +8.2% |
| Apr 30, 2025 | $0.07 | $0.26 | +271.4% | $2.2B | +6.4% |
| Feb 20, 2025 | $0.13 | $-0.34 | -370.1% | $2.0B | +3.7% |
| Oct 23, 2024 | $0.40 | $0.02 | -95.0% | $1.8B | +1.5% |
| Jul 23, 2024 | $0.47 | $0.52 | +11.5% | $1.9B | -13.5% |
| Feb 21, 2024 | $0.32 | $0.08 | -76.7% | $1.6B | -18.8% |
| Oct 25, 2023 | $0.45 | $0.45 | +0.0% | $1.8B | -1.9% |
| Jul 27, 2023 | — | $0.15 | — | $2.1B | — |
CSTM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 3, 2026 | Deslarzes Jean-Christophedirector | Buy | 1,490 | $27.24 |
| Jul 13, 2026 | Joerg Ingriddirector, officer: CEO | Tax | 2,984 | $29.28 |
| Jun 8, 2026 | Ormerod Johndirector | Sell | 8,000 | $35.01 |
| Jun 1, 2026 | Becker Marcusofficer: SVP CPO | Sell | 10,391 | $34.93 |
| May 18, 2026 | Jarrett Martinofficer: SVP Chief Innovation Officer | Sell | 4,716 | $33.46 |
| May 18, 2026 | Soultz Bradley Leedirector | Buy | 2,500 | $33.84 |
| May 13, 2026 | Piquier Ludovicofficer: SVP Manuf Excellence & CTO | Sell | 1,000 | $33.57 |
| May 12, 2026 | Corre Stephaneofficer: President, AS&I | Sell | 5,000 | $33.52 |
| May 12, 2026 | Brun Nicolasofficer: SVP PA, Comm & Sust | Sell | 26,661 | $33.85 |
| May 7, 2026 | Brandjes Michieldirector | Sell | 10,400 | $31.25 |
| May 7, 2026 | Guo Jack Q.officer: EVP & CFO | Sell | 25,201 | $32.62 |
| May 5, 2026 | Hoffmann Philippeofficer: President, A&T | Sell | 50,000 | $31.92 |
| May 4, 2026 | Jurkovic Philip Ryanofficer: SVP & CHRO | Sell | 48,784 | $32.01 |
| May 4, 2026 | Corre Stephaneofficer: President, AS&I | Sell | 5,000 | $32.04 |
| May 1, 2026 | Deslarzes Jean-Christophedirector | Buy | 1,325 | $31.13 |
Source: CSTM SEC Form 4 filings, latest Aug 3, 2026. For informational purposes only — not investment advice.
See the full CSTM insider & 13F page →CSTM research & analysis
[CSTM] Constellium Thesis 2026: An Aluminum Rolled-Products Compounder Rides Packaging and Aerospace Demand
Constellium SE (NYSE: CSTM), headquartered in Paris, France (corporate HQ + Issoire + Neuf-Brisach + Singen + Ravenswood + Bowling-Green + Muscle Shoals + multi-jurisdiction Constellium-Plant operational presence), is an aluminum-rolled-products + Packaging + Automotive + Aerospace + Industry products manufacturer providing distinctive multi-cycle Constellium-aluminum-rolled-products + Packaging-and-Automotive + Aerospace-and-Transportation + Automotive-Structures-and-Industry-aluminum-extrusion services to Packaging + Automotive + Aerospace + Industry + emerging-multi-jurisdiction customer base globally. Founded as multi-cycle Alcan-Pechiney aluminum-rolled-products; 2011 substantial Rio Tinto Alcan-aluminum-rolled-products spinoff via Apollo Global Management + FSI providing Constellium; May 2013 NYSE IPO. Multi-decade strategic-evolution: 1855-2011 Alcan-Pechiney + Rio-Tinto-Alcan-aluminum-rolled-products platform; 2011 Rio Tinto Alcan-aluminum-rolled-products spinoff providing Constellium; May 2013 NYSE IPO; 2013-2020 Packaging-and-Automotive Rolled Products + Aerospace-and-Transportation + Automotive-Structures-and-Industry + 2018 Wise-Metals acquisition; 2020-2025 post-COVID + emerging-Packaging + emerging-Aerospace-recovery + emerging-Automotive + emerging-Industry + aluminum-cost-cycle. Under CEO Jean-Marc Germain (since 2016, prior longtime Alcoa + Constellium executive), FY2025 closes with selected various aggregate revenue ~$7.50-8.20B, adj. EBITDA ~$580-720M, adj. EPS ~$1.30-1.95, net debt ~$1.7-2.1B, and ~145-150M shares outstanding. The first deep-dive — Packaging + Automotive + Aerospace + Industry three-segment aluminum-rolled-products franchise — covers entire aluminum-rolled-products business + Constellium-and-Alcan-and-Pechiney positioning. P&ARP segment (~60-65%, ~$4.70-5.20B): Packaging-and-Automotive aluminum-rolled-products + Coca-Cola + Anheuser-Busch + Molson Coors + Crown + Ball + Ardagh Packaging + Volkswagen + Mercedes + BMW + Stellantis + Ford + GM + Tesla + Honda + Toyota. A&T segment (~20-25%, ~$1.60-1.90B): Aerospace + Transportation aluminum-rolled-products + Airbus + Boeing + defense + emerging-Aerospace-recovery. AS&I segment (~15-20%, ~$1.20-1.50B): Automotive-Structures + Industry-aluminum-extrusion. Multi-cycle global-footprint across France + Germany + Switzerland + Czech Republic + US (Ravenswood + Bowling-Green + Muscle-Shoals + Wise-Metals) + Mexico. Competes with Alcoa (AA most-direct-larger-aluminum-comp), Novelis (private + Hindalco subsidiary most-direct-Novelis-aluminum-rolled-products-comp), Kaiser Aluminum (KALU), Arconic (now-Apollo-private-acquired 2023), Howmet Aerospace (HWM most-direct-Aerospace-aluminum-comp), Norsk Hydro (NHY-NO), Rio Tinto (RIO), Aluminum Corp China (ACH), China Hongqiao (1378-HK), Granges (GRNG-SS), UACJ (5741-JP), Kobe Steel (5406-JP); Aerospace-aluminum Aleris (Novelis-acquired 2020). The second deep-dive — Jean-Marc-Germain + multi-decade-Alcan-and-Pechiney + emerging-Packaging-Aerospace compounder thesis — covers Jean-Marc-Germain-CEO + Alcoa + Constellium expertise, multi-cycle Constellium-and-Alcan-and-Pechiney heritage, post-2011-Apollo-FSI-Rio-Tinto-Alcan-spinoff + 2013-NYSE-IPO + 2018-Wise-Metals-acquisition + disciplined-bolt-on-and-strategic-M&A, emerging-Packaging + Aerospace + Automotive + Industry structural-tailwinds. Multi-decade compounder thesis combines Constellium-and-Alcan-and-Pechiney + Apollo-FSI-Rio-Tinto-Alcan-spinoff ~15+ year heritage, Packaging + Aerospace + Automotive + Industry three-segment aluminum-rolled-products platform, 2018-Wise-Metals + disciplined-M&A, Jean-Marc Germain + Alcoa + Constellium expertise, emerging-Packaging + Aerospace + Automotive + Industry tailwinds, emerging-recycled-aluminum-and-emerging-low-carbon-aluminum environmental-and-sustainability tailwinds. Capital position is IG-equivalent (BB+/BBB-), no-regular-dividend, capital-deployment-and-deleveraging-focused, conservative: net debt ~$1.7-2.1B (~2.0-2.8x leverage), BB+/BBB-equivalent (emerging-IG), $0.10-0.30B cash + undrawn revolver liquidity, FCF ~$100-250M/yr deployed into capex ~$300-450M/yr (Aerospace-recovery + Packaging + Automotive-light-weighting + emerging-recycled-aluminum) + deleveraging + ~$50-150M/yr buyback + selective-bolt-on-M&A, no dividend, ~145-150M shares. At ~$11-18 per share, equity value ~$1.6-2.7B, EV ~$3.3-4.8B, ~6-12x EPS and ~5-7x EV/EBITDA. Base case: aluminum-cycle constructive + Packaging + Aerospace + Automotive + Industry demand + revenue $7.70-8.50B + adj. EBITDA $620-790M + adj. EPS $1.45-2.20 + buyback + ~10-25% return. Bull case: aluminum-cycle accelerates + Aerospace-and-Boeing-and-Airbus-recovery + Automotive-light-weighting + emerging-recycled-aluminum + revenue $8.20-9.00B + adj. EBITDA $720-950M + adj. EPS $1.95-2.80 + substantial buyback + selective-M&A + re-rate 13-17x + 30-60%+ return. Bear case: aluminum-cycle stresses + Aerospace-and-Boeing-stress + adj. EPS $0.65-1.00 + de-rate 4-6x + flat-to-substantially-negative.
Iran Airstrike Squeezes Aluminum Supply — AA, CENX Among Top 5 Winners
Airstrike on Iran's IRALCO on April 7, 2026, tightens aluminum supply, favoring US producers CENX, AA, CSTM, KALU, and RIO with higher premiums and margins. CENX tops conviction on pure-play smelting and 14% revenue growth; all show strong TTM gains amid 71% EBITDA surges for leaders.
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Constellium SE company profile
Overview
Constellium SE (NYSE:CSTM) is a French specialty aluminum manufacturer founded in 2010 and publicly traded since 2013. The company emerged from the aluminum division of Rio Tinto and has grown to become a leading global supplier of rolled and extruded aluminum products serving critical industries including aerospace, automotive, and packaging. Headquartered in Paris, Constellium operates manufacturing facilities across Europe and North America, with a particular focus on high-value specialty aluminum applications that require advanced metallurgical expertise and precision manufacturing capabilities.
Business
Constellium operates in the specialty aluminum manufacturing industry, which sits between primary aluminum production and end-use applications. Unlike commodity aluminum producers who focus on basic ingot production, Constellium transforms aluminum into sophisticated rolled sheets, plates, and extruded profiles with specific properties tailored for demanding applications. The company operates through three main business segments: Packaging & Automotive Rolled Products (P&ARP) represents approximately 35-40% of revenues and produces thin aluminum sheets for beverage cans, food packaging, and automotive body panels. This segment manufactures can stock (the material used to make aluminum beverage cans), closure stock (for bottle caps and can lids), and foil stock for flexible packaging applications like food wrappers and pharmaceutical blister packs. The automotive portion produces lightweight body sheets that help car manufacturers reduce vehicle weight for improved fuel efficiency. Aerospace & Transportation (A&T) generates roughly 40-45% of revenues and serves the commercial aviation industry with specialized aluminum plates, sheets, and extrusions. Key products include aerospace plates used in aircraft fuselages and wings, wing skins that form the outer surface of aircraft wings, and various structural components. This segment requires the highest technical specifications due to aviation safety requirements and represents Constellium's most profitable business line. Automotive Structures & Industry (AS&I) accounts for approximately 15-20% of revenues and produces extruded aluminum profiles for automotive safety systems and industrial applications. Products include crash management systems (components that absorb impact energy in vehicle collisions), battery enclosures for electric vehicles, and various structural beams and profiles used in automotive frames and industrial equipment.
Revenue model
Constellium generates revenue primarily through product sales of manufactured aluminum components, operating on a cost-plus pricing model where aluminum raw material costs are typically passed through to customers with negotiated conversion margins. The company's customers include major aerospace manufacturers like Airbus and Boeing, automotive OEMs such as BMW and Ford, and packaging companies like Ball Corporation and Crown Holdings. The business model centers on conversion margins - the difference between the price of raw aluminum input and the final selling price of processed products. These margins vary significantly by segment, with aerospace commanding the highest premiums due to stringent quality requirements and technical complexity, followed by automotive applications, and packaging products typically earning the lowest margins due to their more commodity-like nature. Several factors influence Constellium's profitability. Aluminum scrap spreads - the price difference between primary aluminum and recycled scrap - significantly impact margins, as tighter spreads reduce the cost advantage of using recycled content. Energy costs represent a major expense given the energy-intensive nature of aluminum processing, making European operations particularly vulnerable to energy price volatility. End-market demand cycles affect pricing power, with aerospace showing the most stability due to long-term contracts, while automotive and packaging segments face more cyclical pressure. Currency fluctuations impact results as the company reports in euros but has significant dollar-denominated operations and sales. Additionally, operational efficiency improvements through automation and process optimization can meaningfully enhance conversion margins, while supply chain disruptions or facility outages can temporarily compress profitability.
Competitive moat
Constellium possesses a moderate but meaningful competitive moat built primarily around technical expertise, customer relationships, and operational scale. The company's strongest moat exists in aerospace applications, where decades of metallurgical knowledge, extensive quality certifications, and long-term customer partnerships create significant barriers to entry. Aerospace customers require suppliers to meet rigorous qualification processes that can take years to complete, and switching costs are extremely high due to safety considerations and regulatory requirements. The company's recycling capabilities provide another competitive advantage, as Constellium can process aluminum scrap into high-quality products, reducing raw material costs and appealing to environmentally conscious customers. The new Neuf-Brisach recycling center represents a significant investment in this capability. Additionally, Constellium's geographic footprint with facilities strategically located near major customers creates logistical advantages and strengthens customer relationships. However, the moat faces several challenges. In packaging applications, the business is more commoditized with limited differentiation, making it vulnerable to price competition from other aluminum processors and alternative materials. The automotive segment sits between these extremes, with some technical differentiation but increasing competitive pressure as more suppliers enter the lightweight materials market. Potential disruption could come from alternative lightweight materials like carbon fiber or advanced high-strength steels, though aluminum's cost-effectiveness and recyclability provide some protection. Additionally, if major customers backward-integrate or new competitors invest heavily in similar capabilities, Constellium's competitive position could erode over time.
Risks & safety
Constellium presents moderate financial risk with some leverage concerns but reasonable liquidity position. • **Solvency Risk**: Moderate to high leverage with debt-to-equity ratio of 2.7x and net leverage around 3.1x EBITDA. Free cash flow has been volatile and occasionally negative, raising concerns about debt service capability during downturns. • **Liquidity**: Adequate with $141 million cash plus undrawn credit facilities, though working capital requirements are substantial given the cyclical nature of the business. • **Valuation Metrics**: Trading at reasonable multiples with P/E around 10x and EV/EBITDA of 6-8x, though earnings quality varies due to metal price lag effects and one-time items. • **Other Considerations**: Exposure to cyclical end markets creates earnings volatility. The 2024 Valais flood demonstrated operational risk from natural disasters. Currency exposure adds another layer of uncertainty to financial performance.
Recent development
Over the past few years, Constellium has pursued several key strategic initiatives to strengthen its competitive position and improve profitability. The company launched Vision '25, a comprehensive cost reduction program targeting over €25 million in annual savings through operational improvements and automation. A centerpiece investment has been the Neuf-Brisach recycling and casting center, which became operational in 2024 and is expected to contribute €35-40 million in annual EBITDA by enabling higher recycled content and reducing raw material costs. In aerospace, Constellium has focused on contract repricing to better reflect the value of its specialized products and has expanded capacity at key facilities like Issoire for advanced Airware products. The company received a $23 million U.S. Department of Defense grant to expand casting capacity at its Muscle Shoals facility, supporting both aerospace and defense applications. The company has also emphasized capital allocation discipline, implementing a $300 million share repurchase program while targeting leverage reduction. Despite facing significant challenges including the unprecedented flooding at its Valais facility in 2024, supply chain disruptions in aerospace, and weak automotive demand, management has maintained long-term targets of €900 million EBITDA and €300 million free cash flow by 2028. Recent quarters have shown the company adapting to market pressures through accelerated cost reduction efforts and working capital management while continuing to invest in strategic capabilities that differentiate its product portfolio.
CSTM company profile · for informational purposes only — not investment advice.
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