Ferroglobe PLC
- Open
- 4.03
- Day high
- 4.03
- Day low
- 3.96
- Prev close
- 4.05
- Volume
- 185K
- Mkt cap
- $750M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.0
- P/S
- 0.5
- Yield
- 1.44%
- Per share
- $0.06
- ▼Insiders net selling -$139K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
Ferroglobe PLC (GSM) is a Basic Materials company listed on NASDAQ. The stock is down 8% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 1 published research article covering GSM.
Ferroglobe PLC (GSM) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GSM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $-0.07 | $0.32 | +592.3% | $379M | +1.0% |
| May 6, 2026 | $-0.07 | $-0.07 | +0.0% | $348M | +1.8% |
| Feb 17, 2026 | $-0.07 | $-0.06 | +14.3% | $329M | +12.2% |
| Nov 5, 2025 | $0.05 | $-0.02 | -140.0% | $312M | +6.2% |
| Feb 19, 2025 | $-0.01 | $0.03 | +400.0% | $368M | -5.4% |
| Feb 21, 2024 | $0.02 | $0.09 | +350.0% | $376M | +0.0% |
| Aug 14, 2023 | $0.10 | $0.30 | +200.0% | $456M | -2.8% |
| Feb 22, 2023 | $0.21 | $0.42 | +100.0% | $449M | +12.2% |
| Nov 15, 2022 | $0.68 | $0.64 | -5.9% | $593M | -14.6% |
| Aug 15, 2022 | $0.84 | $1.14 | +35.7% | $841M | +13.9% |
| Mar 2, 2022 | $0.31 | $0.23 | -25.8% | $570M | +15.5% |
| Nov 16, 2021 | $-0.22 | $-0.36 | -63.6% | $429M | +12.8% |
GSM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 20, 2026 | Garcia Cos Muntanola Beatrizofficer: CHIEF FINANCE OFFICER | Sell | 32,292 | $4.30 |
| Aug 20, 2026 | Garcia Cos Muntanola Beatrizofficer: CHIEF FINANCE OFFICER | Tax | 5,091 | $4.63 |
| Aug 20, 2026 | Garcia Cos Muntanola Beatrizofficer: CHIEF FINANCE OFFICER | Option | 36,784 | — |
| Mar 25, 2026 | Lopez Madrid Javierdirector, officer: Executive Chairman | Buy | 26,000 | $3.86 |
| Mar 25, 2026 | Villar-Mir de Fuentes Silviadirector | Buy | 26,000 | $3.86 |
| Dec 23, 2015 | Ragan Joseph Douglas IIIofficer: Chief Financial Officer | Grant | 1,566 | — |
| Dec 15, 2015 | Ragan Joseph Douglas IIIofficer: Chief Financial Officer | Grant | 25,000 | $9.18 |
| Sep 22, 2015 | Ragan Joseph Douglas IIIofficer: Chief Financial Officer | Grant | 4,743 | — |
| Jul 1, 2015 | BARGER DONALD G JRdirector | Grant | 1,695 | — |
| Jul 1, 2015 | Schriber Alan Richarddirector | Grant | 1,695 | — |
| Jul 1, 2015 | EIZENSTAT STUART Edirector | Grant | 1,695 | — |
| Apr 28, 2015 | Ragan Joseph Douglas IIIofficer: Chief Financial Officer | Grant | 10,000 | $21.17 |
| Apr 28, 2015 | Bradley Jeffofficer: Chief Executive Officer | Grant | 440,000 | $21.17 |
| Mar 23, 2015 | Ragan Joseph Douglas IIIofficer: Chief Financial Officer | Grant | 874 | — |
| Mar 23, 2015 | Bradley Jeffofficer: Chief Executive Officer | Grant | 6,931 | — |
Source: GSM SEC Form 4 filings, latest Aug 20, 2026. For informational purposes only — not investment advice.
See the full GSM insider & 13F page →Ferroglobe PLC company profile
Overview
Ferroglobe PLC (NASDAQ:GSM) is a leading global producer of silicon metal and specialty alloys, operating across the United States, Europe, and internationally. The company was incorporated in 2015 following a merger and changed its name from VeloNewco Limited to Ferroglobe PLC in December 2015. As a subsidiary of Grupo Villar Mir, S.A.U., Ferroglobe has evolved into one of the world's largest silicon metal producers with a century-long heritage in metallurgical operations. The company operates production facilities across multiple continents and has recently achieved net cash positive status for the first time in its history while initiating shareholder return programs including quarterly dividends and share buybacks.
Business
Ferroglobe operates in the silicon and specialty metals industry, serving as a critical supplier to the global steel, aluminum, and emerging technology sectors. The company's operations are organized into three primary business segments: Silicon Metal (approximately 45-50% of revenue): The company produces high-purity silicon metal, which serves as a fundamental raw material for multiple industries. Silicon metal is essential for producing silicone chemicals used in personal care products, construction materials, healthcare products, and electronics. It also serves as a critical input for primary and secondary aluminum production, where it acts as an alloying agent to improve strength and corrosion resistance. Additionally, silicon metal is increasingly important in the solar photovoltaic industry for manufacturing solar cells and in the emerging electric vehicle battery sector. Silicon-Based Alloys (approximately 25-30% of revenue): This segment produces ferrosilicon and calcium silicon products. Ferrosilicon is a crucial deoxidizing agent used in steel manufacturing to remove oxygen and improve steel quality. It's essential for producing stainless steel, carbon steel, and various specialty steel alloys. Calcium silicon serves similar deoxidation and desulfurization functions in liquid steel production and is also used in cast iron pipe coatings and welding applications. Manganese-Based Alloys (approximately 20-25% of revenue): The company manufactures silicomanganese and ferromanganese, both critical for steel production. These products function as deoxidizing, desulphurizing, and degassing agents that remove harmful elements like nitrogen from steel. The segment also produces nodularizers and inoculants used in ductile iron production for automotive and infrastructure applications. Beyond these core products, Ferroglobe produces silica fume, a valuable by-product of silicon metal and ferrosilicon production used in high-performance concrete applications. The company also operates upstream assets including quartz mines in Spain, South Africa, the United States, and Canada, as well as low-ash metallurgical coal mines in the United States and hydroelectric power generation facilities in France.
Revenue model
Ferroglobe generates revenue primarily through direct product sales to industrial customers across multiple sectors. The company sells silicon metal to silicone chemical manufacturers, aluminum producers, and solar panel manufacturers. Steel manufacturers represent the largest customer base for the company's ferrosilicon, silicomanganese, and ferromanganese products. The concrete industry purchases silica fume, while ductile iron foundries buy nodularizers and inoculants. The company's business model is heavily influenced by commodity pricing cycles and global industrial demand patterns. Revenue and margins fluctuate significantly based on steel production levels, aluminum demand, and solar industry growth. Geographic demand variations also impact profitability, with European and North American markets typically commanding premium pricing compared to Asian markets. Several factors can increase margins: Trade protection measures against low-cost imports (particularly from Russia and China) can improve domestic pricing power. Growing demand from emerging sectors like electric vehicle batteries and solar energy can drive premium pricing for high-purity silicon products. The company's vertical integration through ownership of quartz mines and coal assets provides some cost stability during periods of high raw material prices. Conversely, margin pressures arise from: Commodity price volatility in key raw materials like coal and electricity. Unfair competition from subsidized foreign producers, particularly in China and Russia, can depress market prices. Economic slowdowns affecting steel and aluminum production directly impact demand. High energy costs, as the production process is extremely energy-intensive, can significantly erode profitability during periods of elevated electricity prices. The company has been actively pursuing contract-based sales to provide more revenue stability, with management indicating that most volumes are typically contracted annually rather than sold on spot markets.
Competitive moat
Ferroglobe's competitive moat is moderate but facing significant challenges from global overcapacity and unfair trade practices. The company's primary defensive characteristics include its vertical integration through ownership of high-quality quartz mines and coal assets, which provides some cost advantages and supply security compared to competitors dependent on third-party raw materials. The company benefits from geographic diversification with production facilities strategically located near key customer markets in North America and Europe, reducing transportation costs and providing supply chain reliability that customers value. Additionally, Ferroglobe has developed technical expertise in producing high-purity silicon grades required for demanding applications in solar and potential battery markets. However, the moat is significantly weakened by several factors: The silicon and specialty alloys industry suffers from global overcapacity, particularly from Chinese and Russian producers who benefit from government subsidies and lower environmental standards. These producers can sell at prices below Ferroglobe's production costs, making sustained profitability challenging. The company's products are largely commoditized with limited differentiation potential, making it difficult to command premium pricing except in specialized high-purity applications. High capital intensity and energy requirements create barriers to exit, forcing continued production even during unprofitable periods. Potential disruption could come from alternative materials in some applications, such as new steel-making technologies that require less ferroalloys, or advances in aluminum production that reduce silicon metal consumption. However, the most significant competitive threat remains unfair trade practices from state-subsidized foreign producers, which the company is actively combating through trade case filings in the U.S. and Europe. The company's investment in battery technology through its Coreshell partnership represents a potential future moat if successful, as high-purity silicon for EV batteries could command significant premiums over commodity silicon metal.
Risks & safety
Ferroglobe presents a moderate margin of safety with recent balance sheet improvements but ongoing operational challenges. **Liquidity and Solvency:** - Cash position: $133 million with net cash positive status achieved in 2024 - Current ratio: 1.82x indicating adequate short-term liquidity - Debt-to-equity ratio: 0.28x representing manageable leverage - Free cash flow generation: $167 million in 2024, demonstrating cash generation capability **Valuation Metrics:** - Trading at 0.99x book value, near tangible asset value - EV/EBITDA: 5.8x based on 2024 results, reasonable for cyclical industrial company - P/E ratio: 30.4x elevated due to depressed 2024 earnings **Other Considerations:** - Cyclical earnings volatility with 2025 EBITDA guidance of $100-$170 million showing wide uncertainty range - Working capital can be significant source of cash generation during downturns - Trade case outcomes could materially improve competitive positioning and profitability - Energy-intensive operations create vulnerability to electricity price spikes
Recent development
Over the past several years, Ferroglobe has undergone significant strategic transformation focused on balance sheet strengthening and market positioning. The company achieved a historic milestone by becoming net cash positive for the first time in its history during 2024, enabling the initiation of shareholder return programs including quarterly dividends and share buyback authorization. A major strategic focus has been pursuing trade protection measures against unfair foreign competition. The company successfully secured significant duties on Russian ferrosilicon imports to the U.S., with duties reaching 1000% on some producers. Similar trade cases are being pursued in Europe, with potential safeguard measures for silicon metal imports under investigation by the European Commission. The company has made substantial investments in expanding silicon metal production capacity, particularly in the United States. A brownfield expansion project is planned that could add over 60,000 tons of annual capacity with an estimated $200 million investment, targeting startup by early 2028. This expansion aligns with growing domestic demand and potential reshoring trends. Innovation initiatives represent a key growth driver, particularly the partnership with Coreshell Technologies to develop silicon-based materials for electric vehicle batteries. The collaboration has achieved promising results with 80% silicon content anodes demonstrating nearly 1,000 charge cycles, potentially opening a high-value market segment beyond traditional commodity applications. Operationally, the company has implemented Sales and Operations Planning (S&OP) processes to improve demand forecasting and production optimization. Management has also committed to a decarbonization plan targeting 26% carbon emissions reduction by 2030, addressing increasing environmental regulations and customer sustainability requirements. The company has pursued vertical integration through the acquisition of a high-quality quartz mine in South Carolina, securing critical raw material supplies while potentially reducing costs. Additionally, Ferroglobe has entered into Power Purchase Agreements in Spain to secure more predictable energy costs for its energy-intensive operations.
GSM company profile · for informational purposes only — not investment advice.
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