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1. Company Snapshot

1.a. Company Description

Alleima AB (publ) develops, manufactures, and supplies value-added products in stainless steels and special alloys, and products for industrial heating worldwide.It offers tubular products, bars and billets, heating material and technology products, strip steels, medical wires, and coated strip steels.The company provides products to various customer segments, which include seamless stainless tubes, industrial heating elements, wire for medical devices, and precision strip steels.


It also offers electrical heating solutions, resistance materials, and medical wire.The company was founded in 1862 and is headquartered in Sandviken, Sweden.

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1.b. Last Insights on ALLEI

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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European Stock Picks Trading Below Estimated Fair Value

Oct -23

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Undervalued European Small Caps With Insider Action In October 2025

Oct -14

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Exploring Alleima's (OM:ALLEI) Valuation Following Recent Stock Performance Trends

Sep -09

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Invitation to Alleima Capital Markets Day on November 5, 2025

Sep -04

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Stainless Steel Seamless Pipes Company Evaluation Report 2025 | Nippon Steel, Alleima, and Vallourec Lead with Advanced Metallurgy, Innovation, and Sustainable Solutions

Aug -25

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Alleima's Kanthal division and Danieli to supply first electric process gas heater for commercial use in DRI

May -23

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Alleima receives breakthrough order of steam generator tubes for Small Modular Reactors (SMRs)

Jun -21

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.75%)

6. Segments

Tube

Expected Growth: 3.5%

Alleima AB's Tube segment growth of 3.5% is driven by increasing demand for high-performance tubes in the aerospace and energy industries, coupled with the company's strategic investments in R&D and capacity expansion. Additionally, growing adoption of electric vehicles and renewable energy sources is boosting demand for specialized tubes, further supporting segment growth.

Kanthal

Expected Growth: 4.5%

Kanthal's 4.5% growth is driven by increasing demand for electric vehicles, renewable energy, and industrial electrification, leveraging its expertise in resistive heating elements and thermal management solutions. Additionally, Alleima AB's strategic investments in R&D, expansion into emerging markets, and operational efficiency improvements contribute to the segment's growth.

Strip

Expected Growth: 3.8%

Alleima AB's 3.8% growth is driven by increasing demand for specialty steel products in the aerospace and industrial segments, coupled with the company's strategic expansion into emerging markets, particularly in Asia. Additionally, investments in R&D and operational efficiency improvements have enhanced productivity and reduced costs, contributing to the company's growth momentum.

7. Detailed Products

Kanthal

A family of iron-chromium-aluminium (FeCrAl) alloys used in a wide range of high-temperature applications, including heating elements, resistance wires, and other industrial processes.

Kanthal APMT

A high-temperature, iron-chromium-aluminium alloy used in advanced materials and thermal management applications.

Kanthal APM

A high-temperature, iron-chromium-aluminium alloy used in advanced materials and thermal management applications.

Kanthal AF

A high-temperature, iron-chromium-aluminium alloy used in advanced materials and thermal management applications.

Ultranit

A range of nickel-chromium alloys used in high-temperature applications, including heating elements, resistance wires, and other industrial processes.

Alloy 602 CA

A high-temperature, nickel-chromium alloy used in advanced materials and thermal management applications.

Alloy 625

A high-temperature, nickel-chromium alloy used in advanced materials and thermal management applications.

8. Alleima AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Alleima AB (publ) is medium due to the availability of alternative materials and technologies in the market.

Bargaining Power Of Customers

The bargaining power of customers is low due to the specialized nature of Alleima AB (publ)'s products and the lack of alternative suppliers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the presence of multiple suppliers in the market, but Alleima AB (publ) still has some negotiating power.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the industry, including the need for significant capital investment and specialized expertise.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established competitors in the market, leading to a competitive pricing environment.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 8.15%
Debt Cost 3.95%
Equity Weight 91.85%
Equity Cost 3.95%
WACC 3.95%
Leverage 8.87%

11. Quality Control: Alleima AB (publ) passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Aperam

A-Score: 6.1/10

Value: 7.9

Growth: 4.3

Quality: 4.9

Yield: 8.8

Momentum: 6.5

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
Vesuvius

A-Score: 5.5/10

Value: 7.0

Growth: 4.1

Quality: 3.9

Yield: 6.2

Momentum: 4.0

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
Jacquet Metals

A-Score: 5.5/10

Value: 7.3

Growth: 5.2

Quality: 2.6

Yield: 4.4

Momentum: 7.0

Volatility: 6.3

1-Year Total Return ->

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Stock-Card
Outokumpu

A-Score: 5.4/10

Value: 6.9

Growth: 2.6

Quality: 2.9

Yield: 8.1

Momentum: 7.5

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
Alleima

A-Score: 4.8/10

Value: 5.2

Growth: 5.2

Quality: 5.1

Yield: 3.1

Momentum: 6.5

Volatility: 3.7

1-Year Total Return ->

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Stock-Card
Stalprodukt

A-Score: 4.7/10

Value: 5.8

Growth: 2.3

Quality: 3.5

Yield: 5.0

Momentum: 4.0

Volatility: 7.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

83.1$

Current Price

83.1$

Potential

-0.00%

Expected Cash-Flows