CONSTELLIUM SE financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data CONSTELLIUM SE files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2022	FY2024	FY2024	FY2025
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 and development	46	52	49	51
Selling, general and administrative	284	317	313	332
Interest expense	96	101	99	102
Pre-tax income	150	232	135	408
Income tax	-165	75	75	133
Net income to minority interests	7	5	4	2
Net income	308	152	56	273
EPS, basic	2.14	1.04	0.38	1.95
EPS, diluted	2.10	1.03	0.38	1.92
Shares, basic (weighted)	144	146	146	140
Shares, diluted (weighted)	147	148	148	142

Balance sheet

	FY2022	FY2024	FY2024	FY2025
Cash and equivalents	176	223	141	120
Receivables		418	381	611
Inventory		1,197	1,181	1,407
Total current assets		1,992	1,834	2,322
Property, plant and equipment		2,422	2,408	2,585
Lease right-of-use assets		121	107	118
Goodwill		41	46	47
Intangible assets		104	97	88
Total assets		4,933	4,734	5,354
Accounts payable		1,025	959	1,222
Accrued liabilities		386	350	452
Deferred revenue		68	65
Short-term debt		41	39	39
Total current liabilities		1,556	1,446	1,798
Long-term debt		1,888	1,879	1,905
Lease liabilities		107	95	98
Total liabilities		4,191	4,007	4,383
Total debt		1,888	1,879	1,905
Paid-in capital		513	674	693
Retained earnings			93	354
Treasury stock			-51	-153
Other comprehensive income		0	-14	54
Shareholders' equity		718	706	952
Minority interests		24	21	19
Total equity	603	742	727	971
Total liabilities and equity		4,933	4,734	5,354
Shares outstanding			144	135

Cash flow statement

	FY2022	FY2024	FY2024	FY2025
Net income	315	157	60	275
Depreciation and amortization	290	300	304	330
Stock-based compensation	18	22	25	19
Deferred income tax	-188	17	31	60
Change in receivables	73	-37	-50	-203
Change in inventory	-249	202	-24	-149
Change in payables	42	-206	-40	168
Cash from operations	365	432	301	489
Capital expenditures	-289	-366	-413	-330
Acquisitions	0	0	3	0
Cash from investing	-196	-216	-313	-309
Debt issued	0	0	671	0
Debt repaid	-202	-57	-689	-6
Share buybacks	0	0	-79	-115
Cash from financing	-150	-177	-61	-215
Exchange rate effect	-8	7	-9	14
Net change in cash	19	39	-73	-35
Free cash flow	76	66	-112	159
Interest paid	95	102	93	104
Income taxes paid	18	33	47	50

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $24.89 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	15.0%	Gross profit / revenue.
Pre-tax margin	6.9%	Pre-tax income / revenue.
Net margin	4.9%	Net income / revenue.
FCF margin	1.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	5.6%	Cash from operations / revenue.
Effective tax rate	29.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	38.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.4%	Net income / average total assets.
R&D / revenue	0.6%	Research and development expense / revenue.
SG&A / revenue	3.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.7%	Capital expenditures / revenue.
D&A / revenue	3.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	15.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	26.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	7.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	387.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-3.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	405.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-2.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	62.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	10.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	27.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	34.8%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	13.1%	Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y	-4.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.39x	Current assets / current liabilities.
Quick ratio	0.47x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.73x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	33.2%	Total debt / total assets.
Liabilities / assets	80.6%	Total liabilities / total assets.
Net debt	$1.80B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$833.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	2.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$988.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.53x	Revenue / average total assets.
Fixed asset turnover	3.54x	Revenue / average property, plant and equipment.
Inventory turnover	4.54x	Cost of revenue / average inventory.
Days inventory	80 days	365 x average inventory / cost of revenue.
Receivables turnover	10.5x	Revenue / average receivables.
Days sales outstanding	35 days	365 x average receivables / revenue.
Days payables	74 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	42 days	Days inventory + days sales outstanding - days payables.
FCF conversion	39.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	66.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.11	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$63.75	Revenue / diluted weighted shares.
FCF per share	$1.22	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.60	Cash from operations / diluted weighted shares.
Book value per share	$8.22	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.26	Tangible book value / shares outstanding.
Cash per share	$1.05	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	74.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$3.37B	Share price x shares outstanding.
Enterprise value	$5.17B	Market cap + total debt - cash - short-term investments.
P/E	7.75x	Market cap / net income. Only when net income is positive.
P/S	0.38x	Market cap / revenue.
P/B	3.01x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.41x	Market cap / tangible book value, when positive.
P/FCF	19.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.69x	Market cap / cash from operations, when positive.
EV/Sales	0.58x	Enterprise value / revenue.
EV/FCF	30.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.1%	Free cash flow / market cap.
Earnings yield	12.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.8%	(Dividends paid + share buybacks) / market cap.

What was CONSTELLIUM SE's revenue in fiscal 2025?

CONSTELLIUM SE reported revenue of $8.45B for fiscal 2025, 15.2% higher than the year before.

Was CONSTELLIUM SE profitable in fiscal 2025?

Yes. Net income was $273.0M, a net margin of 3.2%.

How much free cash flow did CONSTELLIUM SE generate in fiscal 2025?

Cash from operations of $489.0M minus capital expenditures of $330.0M left free cash flow of $159.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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