Logo

GSM

Ferroglobe PLC

GSM

Ferroglobe PLC • NASDAQ
$4.43 ▲ 5.73% (+0.24)
Market Cap $826.75 M
52w High $5.74
52w Low $2.97
Dividend Yield 0.06%
P/E -7.03
Volume 836.88K
Outstanding Shares 186.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $311.698M ▼ $44.461M ▲ $-12.812M ▼ -4.11% ▼ $-0.068 ▼ $19.132M ▲
Q2-2025 $386.862M ▲ $37.814M ▼ $-10.451M ▲ -2.701% ▲ $-0.056 ▲ $8.55M ▲
Q1-2025 $307.179M ▼ $106.995M ▼ $-66.482M ▼ -21.643% ▼ $-0.36 ▼ $-44.198M ▼
Q4-2024 $367.505M ▼ $147.258M ▲ $-28.133M ▼ -7.655% ▼ $-0.25 ▼ $-14.572M ▼
Q3-2024 $433.533M $118.969M $18.814M 4.34% $0.1 $52.926M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $133.996M ▼ $1.541B ▼ $754.566M ▼ $786.811M ▼
Q2-2025 $148.077M ▲ $1.661B ▲ $848.248M ▲ $812.639M ▲
Q1-2025 $138.145M ▼ $1.54B ▲ $759.93M ▲ $780.568M ▲
Q4-2024 $138.473M ▲ $1.472B ▼ $638.202M ▼ $720.507M ▼
Q3-2024 $124.019M $1.639B $723.227M $915.707M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.812M ▼ $19.251M ▲ $-19.132M ▲ $-13.533M ▼ $-14.071M ▼ $578K ▲
Q2-2025 $-10.451M ▲ $13.681M ▼ $-19.598M ▲ $6.356M ▲ $5.966M ▲ $-1.754M ▼
Q1-2025 $-66.898M ▼ $19.372M ▼ $-22.995M ▼ $-2.815M ▲ $-3.69M ▼ $5.065M ▼
Q4-2024 $-46.43M ▼ $32.094M ▲ $-4.8M ▲ $-9.861M ▲ $12.461M ▲ $15.004M ▲
Q3-2024 $18.572M $11.114M $-20.386M $-16.386M $-23.677M $-10.038M

Five-Year Company Overview

Income Statement

Income Statement Ferroglobe’s earnings picture shows a clear cycle: a very strong upswing in 2022, followed by a comedown in 2023 and 2024. Revenue has stepped down from the prior peak but is still much higher than it was in 2020, so the business today is bigger than a few years ago. Profitability has narrowed significantly from the boom year, yet the company has remained in the black in the last two years, unlike the losses seen in 2020 and 2021. Overall, this looks like a cyclical materials company that enjoyed exceptional conditions in 2022 and is now operating in a more normal, lower-margin environment, but still with positive earnings rather than deep swings into losses.

Balance Sheet

Balance Sheet The balance sheet has become leaner and somewhat stronger over time. Total assets are lower than at the peak, suggesting some downsizing or normalization after the boom, but debt has been steadily paid down, and leverage is clearly reduced compared with a few years ago. Equity has been rebuilt from the weak levels of 2020–2021 and now sits on a much firmer footing, which gives the company more resilience if the cycle turns again. Cash balances are modest but relatively steady, so the financial profile looks more disciplined and less fragile than it once was, even if not excessively liquid.

Cash Flow

Cash Flow Cash generation has improved meaningfully compared with the earlier part of the period. Operating cash flow has been positive in most recent years, and importantly, free cash flow has generally stayed positive after covering investment spending. Capital spending has been fairly restrained, which helps keep free cash flow healthy, but also means growth investments are being made carefully rather than aggressively. Overall, the business is now more self-funding, less reliant on outside capital, and better positioned to navigate the ups and downs of a commodity-driven environment.

Competitive Edge

Competitive Edge Ferroglobe holds a leading position in silicon metal and ferroalloys, especially in Western markets. Its vertical integration into mining gives it control over key raw materials, helping manage costs and supply security. The company’s broad production footprint across North America, Europe, and South Africa allows it to serve customers locally, which is an advantage as more manufacturers seek regional supply. Trade protections in the US and Europe also help shield it from some unfairly priced imports. Together, these factors create a meaningful competitive moat, though the business still faces the inherent volatility of global metals and materials markets.

Innovation and R&D

Innovation and R&D Innovation is a clear strategic pillar. Ferroglobe has invested in high-purity silicon technologies, targeting advanced uses like battery anodes for electric vehicles and other high-tech applications. Its in-house innovation arm, proprietary processes, and patent history support this push. The company is working closely with partners in the battery and energy space, positioning itself as a specialized materials supplier rather than just a basic commodity producer. If these new technologies and partnerships scale, they could help shift part of the business toward higher-value, more specialized and less purely cyclical revenues, though that remains a developing story rather than a fully proven one.

Summary

Ferroglobe today reflects both its cyclical basic-materials roots and its ambitions in higher-tech, energy-transition markets. Financially, it has moved from losses to consistent, if much smaller, profits after an exceptional 2022 boom, while steadily reducing debt and strengthening its equity base. Cash flows are now more reliable and supportive of ongoing investment without heavy balance sheet strain. Competitively, the company benefits from scale, vertical integration, and trade protections, which help it weather tough market conditions. Its innovation agenda in high-purity silicon and battery materials offers longer-term opportunity but also execution risk and dependence on emerging technologies and demand patterns in EVs and renewables. Overall, the profile is of a cyclical industrial player that has cleaned up its finances and is trying to climb the value chain, with outcomes still closely tied to global metals cycles and the pace of energy-transition adoption.

NEWS

November 5, 2025 · 5:00 PM UTC

Ferroglobe Reports Third Quarter 2025 Financial Results

Read more

October 21, 2025 · 8:00 AM UTC

Ferroglobe PLC Schedules Third Quarter 2025 Earnings Call for November 6, 2025

Read more