4 models fit Constellium SE Ordinary Shares (France) and they disagree: 0 of 4 land within 15% of the average.
Two or more of our models back this value.
Large discount(i)Bronze52
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionConstellium SE Ordinary Shares (France) (CSTM)
Fair value (4 models)
$34.08
ACCE price target
$27.00
Rating
Undervalued
Horizon
12 months
Fair value published on 20 Oct 2026, 15:04 CEST; previously $39.07 since 16 Oct 2026, 00:00 CEST.
ACCE price target published on 11 Oct 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 15:04 CEST.
Price used: $23.22 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
31.9% below
+46.8% to fair value
ACCE score
74
out of 100
Analysts
67% buy
6 covering
P/E
6.0x
forward 7.9x
1-year return
+39.0%
Dividend yield
0.00%
Constellium SE Ordinary Shares (France) in four questions
Plain answers, details below
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Overview
ACCE thesis
Constellium makes rolled aluminum products, mainly sheet and plate for aerospace structures, beverage can stock, and automotive body panels, along with extruded products for automotive and packaging customers. Its edge sits in the aerospace niche, where qualification cycles run for years and the company is a long-standing supplier to Airbus and other major airframers, which makes switching costly for customers. Revenue grew 30.7% over the period you're looking at, and the stock trades at 6.7x trailing and 8.2x forward earnings, a multiple that leaves room for a rerating if the aerospace and automotive volumes keep compounding. The margin profile is thin at the gross level (16.6%) and 8.9% at the operating line, so earnings are sensitive to aluminum pricing and energy costs, and the 53.1% ROE partly reflects a small equity base rather than pure operating excellence. This is a cyclical, capital-intensive business at a low multiple, which is worth a deeper look mainly to test whether the aerospace mix shift can hold margins through a downturn.