# Constellium SE (CSTM)

> Source: Nexqual · https://nexqual.com/CSTM · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Constellium SE (CSTM), nexqual.com/CSTM" · informational, not investment advice.

**Price:** USD 24.43 (-0.53% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 24.56 · day 23.38–25 · 52w 14.62–36.99 · market cap $3.31B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $9.58B, net income $545M (5.7% margin), free cash flow $218M (SEC filings).
- Valuation: P/E 6.1x (avg 18.8x at the last 3 fiscal year-ends), net debt $1.76B.
- Insider open-market sales, last ~7 months: 11 Form 4 filings, $6.4M; 11 not under a Rule 10b5-1 plan ($6.4M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 3 Form 4 filings, $166K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.33 on a 1–5 scale) (6 analysts), mean target USD 33.45 (range 27.85–36.9).
- Total return with dividends: 1Y +50.1% vs S&P 500 +13.6%; 5Y +32.7% vs S&P 500 +79.8%.
- Next earnings: 2026-10-28, EPS estimate USD 0.57, revenue estimate $2.17B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $8.53B | $7.83B | $7.33B | $8.45B | $9.58B |
| Net income | $308M | $152M | $56.0M | $273M | $545M |
| EPS (diluted) | $2.10 | $1.03 | $0.38 | $1.92 | — |
| Free cash flow | $76.0M | $66.0M | -$112M | $159M | $218M |
| Net margin | 3.6% | 1.9% | 0.8% | 3.2% | 5.7% |
| Revenue growth | — | -8.3% | -6.3% | +15.2% | — |
| Cash + short-term investments | $176M | $223M | $141M | $120M | — |
| Total debt | — | $1.93B | $1.92B | $1.94B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 6.1x · P/S 0.3x · EV/Sales 0.5x · P/FCF 15.2x · P/B 2.7x · FCF yield 6.58% · Earnings yield 16.46% · Buyback yield (TTM) 3.41% · Net debt $1.76B · EV $5.07B
P/E at fiscal year-ends: Dec 2025 9.8x, Dec 2024 27.1x, Dec 2023 19.5x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 11 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-04 | Ormerod John | Director | 8,000 | $280K | 24.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-28 | Becker Marcus | SVP CPO | 10,391 | $363K | 38.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14 | Jarrett Martin | SVP Chief Innovation Officer | 4,716 | $158K | 23.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-12 | Piquier Ludovic | SVP Manuf Excellence & CTO | 1,000 | $34K | 0.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-11 | Brun Nicolas | SVP PA, Comm & Sust | 26,661 | $902K | 20.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-08 | Corre Stephane | President, AS&I | 5,000 | $168K | 7.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-05 | Brandjes Michiel | Director | 10,400 | $325K | 20% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-05 | Guo Jack Q. | EVP & CFO | 25,201 | $822K | 12% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-01 | Hoffmann Philippe | President, A&T | 50,000 | $1.6M | 25.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-01 | Jurkovic Philip Ryan | SVP & CHRO | 48,784 | $1.6M | 22.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-01 | Corre Stephane | President, AS&I | 5,000 | $160K | 6.9% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
3 purchases, $166K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-03 | Deslarzes Jean-Christophe | Director | 1,490 | $41K | 27.24 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14 | Soultz Bradley Lee | Director | 2,500 | $85K | 33.84 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-01 | Deslarzes Jean-Christophe | Director | 1,325 | $41K | 31.13 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 2.33 on a 1–5 scale), 6 analysts; mean target USD 33.45 (low 27.85, high 36.9).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | Barclays | Initiated | Equal-Weight | $28 |
| 2026-10-08 | UBS | Target lowered | Buy | $34 → $32 |
| 2026-10-08 | Deutsche Bank | Target lowered | Buy | $39 → $36 |
| 2026-09-18 | Wells Fargo | Target lowered | Overweight | $39 → $38 |
| 2026-07-30 | Wells Fargo | Target raised | Overweight | $37 → $39 |
| 2026-07-09 | Wells Fargo | Target lowered | Overweight | $39 → $37 |
| 2026-07-08 | UBS | Target lowered | Buy | $38 → $35 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +50.1% | +32.7% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +50.4% | +5.8% |
| Volatility (annualized) | 44.4% | 41.7% |
| Max drawdown | -35.8% (Jun 2026→Oct 2026) | -64.1% (Apr 2024→Apr 2025) |

## Peers (Aluminum)
CENX (Century Aluminum Company) USD 35.1 +5.22% · KALU (Kaiser Aluminum Corporation) USD 120.85 +3.96% · AA (Alcoa Corporation) USD 40.21 +0.70% · GFI (Gold Fields Limited) USD 36.23 +1.40% · NTR (Nutrien Ltd.) USD 69.07 -0.43% · VMC (Vulcan Materials Company (Holdi) USD 265 +0.95%

## More
Full page: https://nexqual.com/CSTM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| P&ARP | $1.63B | 61.6% | +24.3% |
| A&T | $664.0M | 25.2% | +38.0% |
| AS&I | $402.0M | 15.2% | -1.7% |
| H&C | $2.0M | 0.1% | +100.0% |
| Total revenue | $2.64B | 100% | — |
The lines above cover 102% of total revenue.

## Revenue by product line (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Packaging rolled products | $1.19B | 45.0% | +20.6% |
| Automotive rolled products | $407.0M | 15.4% | +37.0% |
| Aerospace rolled products | $329.0M | 12.5% | +24.6% |
| Transportation, industry, defense and other rolled products | $298.0M | 11.3% | +49.7% |
| Automotive extruded products | $241.0M | 9.1% | -6.9% |
| Other extruded products | $149.0M | 5.6% | +6.4% |
| Specialty and other thin-rolled products | $28.0M | 1.1% | +21.7% |
| Total revenue | $2.64B | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $3.31B | 39.2% | +33.8% |
| Other Geographical Areas | $1.62B | 19.1% | +8.6% |
| Germany | $1.54B | 18.2% | +1.2% |
| France | $722.0M | 8.5% | +3.9% |
| Spain | $376.0M | 4.5% | +2.5% |
| United Kingdom | $367.0M | 4.3% | +15.8% |
| Poland | $317.0M | 3.8% | +18.7% |
| Czechia | $205.0M | 2.4% | -1.9% |
| Total revenue | $8.45B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.57 | $0.43 | +32.3% | $2.17B | 1 |
| Next quarter (ends 2027-03-31) | $0.63 | $0.63 | +0.5% | $2.19B | 1 |
| Current fiscal year (ends 2026-12-31) | $3.53 | $3.06 | +15.3% | $8.87B | 1 |
| Next fiscal year (ends 2027-12-31) | $2.62 | $2.55 | +2.7% | $8.99B | 1 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 23 | 39.3% | ±8.0% |
| 2026-12-18 | 51 | 26.3% | ±10.0% |
| 2027-01-15 | 79 | 44.7% | ±16.5% |
| 2027-02-19 | 114 | 47.1% | ±20.8% |
| 2027-05-21 | 205 | 55.3% | ±32.5% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Jul 29, 2026 | Quarter ended Jun 30, 2026 | $1.35 | $0.84 | Beat +60.7% | -1.8% |
| Apr 29, 2026 | Quarter ended Mar 31, 2026 | $1.02 | $0.51 | Beat +100.0% | +0.6% |
| Feb 18, 2026 | Quarter ended Dec 31, 2025 | $0.68 | $0.32 | Beat +112.5% | +10.3% |
| Oct 29, 2025 | — | — | — | — | -4.3% |
| Jul 29, 2025 | — | — | — | — | +6.0% |
| Apr 30, 2025 | — | — | — | — | +12.4% |
| Feb 20, 2025 | — | — | — | — | +15.0% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-28 | 10-Q | Quarterly report · period ended Sep 30, 2026 | https://www.sec.gov/Archives/edgar/data/1563411/000156341126000200/0001563411-26-000200-index.htm |
| 2026-10-28 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1563411/000156341126000198/0001563411-26-000198-index.htm |
| 2026-08-06 | Schedule 13G/A | FMR LLC, Abigail P. Johnson: 1.6% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1563411/000031506626001952/0000315066-26-001952-index.htm |
| 2026-07-29 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1563411/000156341126000192/0001563411-26-000192-index.htm |
| 2026-07-29 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1563411/000156341126000190/0001563411-26-000190-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.