Private company

Aperam

Logo: Aperam, Public domain, via Wikimedia Commons4

International steel company

Aperam S.A. is a global leader in stainless, electrical, alloy and specialty steels, with recycling activities and customers across more than 40 countries. The company is listed on the Amsterdam, Brussels, Paris, Madrid and Luxembourg stock exchanges with facilities in Brazil, Belgium and France, which concentrates on the production of stainless steel and speciality steel.3 From Wikipedia, CC BY-SA 4.0

Last updated Oct 16, 2026.

Overview

$1.2BRevenue, fiscal 20255
$290.3MNet income, fiscal 20255
2011Founded1
  • Tickeron Euronext Paris1
  • Industryiron and steel industry1
  • HeadquartersLuxembourg1
  • Websitewww.aperam.com
  • Legal formsociété anonyme1
  • Listed onAmsterdam Stock Exchange (APAM), Euronext Paris (APAM), Luxembourg Stock Exchange (APAML), Euronext Brussels (APAM)1
  • Business address12C, Rue Guillaume Kroll, L-1882, Grand Duchy Of Luxembourg, N4 000006

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PREDLICE 29 07 2013 A
Photo: Safranek-interia.eu, CC0, via Wikimedia Commons8

Aperam S.A. is a global leader in stainless, electrical, alloy and specialty steels, with recycling activities and customers across more than 40 countries. The company is listed on the Amsterdam, Brussels, Paris, Madrid and Luxembourg stock exchanges with facilities in Brazil, Belgium and France, which concentrates on the production of stainless steel and speciality steel.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

33.4%Operating margin5
24.3%Net margin5
7.6%Revenue growth, 20255
66.2%Return on equity5
0.43×Debt to equity5
$171.6MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Asset Management brought in 98% of the revenue Aperam broke down this way in fiscal 2025.

  1. Asset Management$1.2B598%up 6% from 2024
  2. Investment Performance$29.1M52%up 96% from 2024
Products and services by year
Products and services202320242025
Asset Management$970.8M$1.1B$1.2B
Investment Performance$4.3M$14.9M$29.1M

Regions

United States brought in 80% of the revenue Aperam broke down this way in fiscal 2025.

  1. United States$956.8M580%up 7% from 2024
  2. Outside the United States$239.9M520%up 10% from 2024
Regions by year
Regions202320242025
United States$794.8M$894.5M$956.8M
Outside the United States$180.3M$217.3M$239.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs66¢$795.1M
  • Income tax9¢$111.3M
  • Profit24¢$290.3M

Out of $1.2B in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending0¢$371.0K
  • Dividends paid100¢$257.1M

Out of $172.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5

Financial statements

Revenue9101112135$1.2B in 2025+44% since 2018
0$500.0M$1.0B$1.5B2018: $828.6M$828.6M20182019: $799.0M$799.0M2019−4%2020: $899.6M$899.6M2020+13%2021: $1.2B$1.2B2021+36%2022: $993.3M$993.3M2022−19%2023: $975.1M$975.1M2023−2%2024: $1.1B$1.1B2024+14%2025: $1.2B$1.2B2025+8%
Operating income9101112135$399.6M in 2025+31% since 2018
0$200.0M$400.0M$600.0M2018: $304.9M$304.9M20182019: $283.5M$283.5M2019−7%2020: $358.3M$358.3M2020+26%2021: $540.5M$540.5M2021+51%2022: $344.1M$344.1M2022−36%2023: $303.6M$303.6M2023−12%2024: $366.6M$366.6M2024+21%2025: $399.6M$399.6M2025+9%
Net income9101112135$290.3M in 2025+83% since 2018
0$100.0M$200.0M$300.0M$400.0M2018: $158.3M$158.3M20182019: $156.5M$156.5M2019−1%2020: $212.6M$212.6M2020+36%2021: $336.5M$336.5M2021+58%2022: $206.8M$206.8M2022−39%2023: $222.3M$222.3M2023+8%2024: $259.7M$259.7M2024+17%2025: $290.3M$290.3M2025+12%

Every line of the income statement in the latest annual report, as filed.5

Period ending2025-12-312024-12-312023-12-31
Revenue from Contracts with Customers$1.2B$1.1B$975.1M
Total revenues$1.2B$1.1B$975.1M
Compensation and benefits$649.6M$594.1M$529.4M
Distribution, servicing and marketing$28.1M$25.8M$23.6M
Occupancy$29.2M$30.3M$28.9M
Communication and technology$52.4M$53.0M$51.7M
General and administrative$37.8M$42.1M$37.9M
Total operating expenses$797.1M$745.2M$671.5M
Operating Income (Loss), Total$399.6M$366.6M$303.6M
Interest income on cash and cash equivalents and other$9.4M$9.6M$6.3M
Net gain (loss) on the tax receivable agreements$557.0K-$504.0K$505.0K
Total non-operating income (expense)$89.5M$73.9M$80.1M
Interest Expense, Nonoperating$8.6M$8.6M$8.6M
Income before income taxes$489.1M$440.6M$383.7M
Provision for income taxes$111.3M$90.9M$71.9M
Net income before noncontrolling interests$377.9M$349.7M$311.8M
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings$58.2M$52.9M$49.5M
Less: Net income (loss) attributable to noncontrolling interests - consolidated investment products$29.3M$37.0M$40.0M
Net income attributable to Artisan Partners Asset Management Inc.$290.3M$259.7M$222.3M
Earnings per share - Basic$4.05$3.66$3.19
Earnings per share - Diluted$4.05$3.66$3.19
Basic weighted average number of common shares outstanding65.6M shares64.9M shares63.5M shares
Diluted weighted average number of common shares outstanding65.6M shares64.9M shares63.5M shares
Dividends declared per Class A common share$3.63$3.16$2.66

Compare Aperam with another company

The story

The Brazilian facilities of Aperam mostly correspond to Aperam South America (old Acesita), which was privatised by the Brazilian government in 1992 and purchased by Usinor in 1998.

Usinor merged with Arbed and Aceralia to become Arcelor in 2001, and Aperam became a wholly owned subsidiary of ArcelorMittal in 2007 in the hostile takeover of state-owned enterprise Arcelor by Lakshmi Mittal.

As of June 2021, 40.83% of Aperam is owned by the Lakshmi Mittal family.

Aperam completed the acquisition of Universal Stainless in January 2025.

Aperam finalized the acquisition of British company Magnatec Group in April 2026.

From Wikipedia’s article on Aperam, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Owners

From Wikidata.1

Employees over time

  • 20179,6001

Timeline

  1. Feb 16, 2017Went public Listed on Euronext Brussels1
  2. Jan 31, 2011Went public Listed on Euronext Paris1
  3. Jan 31, 2011Went public Listed on Amsterdam Stock Exchange1
  4. 2011Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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