Constellium SE
CSTM on NYSE. Constellium sells rolled and extruded aluminum products to aerospace, packaging, and automotive customers. Market value $3.4bn.
Figures from the annual report for the year ended 31 December 2023.
The company doesn't report operating profit, so we work it out from pre-tax profit and interest.
The latest annual report is over 15 months old, so we don't rank it.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Materials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $1.91 of spare cash last year. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.
$25.50 a share, 77% above its 1-year low
Over the past year the price has ranged from $14.39 to $36.99.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | n/a | n/a | n/a | $8.5bn | $7.8bn |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | 2.9% | 4.3% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | 2.69 |
| Shares outstanding | |||||
| Shares outstanding | 0.14bn | 0.14bn | 0.14bn | 0.14bn | 0.15bn |
Health checks
- Free cash flow positive2 of 2 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- Debt2.69× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 6% more shares since 2019
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
| Quarter to | Amount |
|---|---|
| December 2021 | Not reported |
| December 2022 | Not reported |
| December 2023 | Not reported |
| March 2025 | $2.0bn |
| June 2025 | $2.1bn |
| September 2025 | $2.2bn |
| March 2026 | $2.5bn |
| June 2026 | $2.7bn |
| Quarter to | Amount |
|---|---|
| December 2021 | Not reported |
| December 2022 | Not reported |
| December 2023 | Not reported |
| March 2025 | $37m |
| June 2025 | $36m |
| September 2025 | $88m |
| March 2026 | $199m |
| June 2026 | $146m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 28 October 2026
Who owns it
4 long-term investors we follow own it, up from 3 last quarter. 388 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| LSV Asset ManagementJosef Lakonishok | $10m | <0.1% | Added |
| Boston PartnersBoston Partners team | $1m | <0.1% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $211,330 | <0.1% | New |
| Barrow HanleyBarrow Hanley team | $15,839 | <0.1% | Cut |
Largest holders overall
- BlackRock$408m
- Bpifrance SA$268mCut
- Morgan Stanley$197mAdded
- Vanguard Portfolio Management$140mAdded
- American Century Companies$135mAdded
- T. Rowe Price Investment Management$95mCut
- State Street$94mAdded
- Arrowstreet Capital, Limited Partnership$91mCut
- Nuveen$88mCut
- Kinetic Partners Management, LP$81mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Bpifrance S.A.Passive investorat least 6.2%(filed with 3 related holders)Since 26 May 2026
What they said
Item 4 is hereby amended and supplemented as follows: On May 26, 2026, Bpifrance Participations sold 4,190,000 Ordinary Shares by two block trades each at $33.89 per share. All of the Ordinary Shares that are held of record by the Reporting Persons as reported herein were…
Read the filing - BlackRock, Inc.Passive investor5.8%+0.8 ptsSince 30 June 2025
- Millennium Management LLCPassive investorat least 2.5%−2.8 pts(filed with 2 related holders)Since 31 March 2026
- T. Rowe Price Investment Management, Inc.Passive investorSold down below 5%Since 31 August 2025
- FMR LLCPassive investorSold down below 5%Since 30 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
Bpifrance S.A. Passive investor | at least 6.2% (filed with 3 related holders) | 26 May 2026 | What they saidItem 4 is hereby amended and supplemented as follows: On May 26, 2026, Bpifrance Participations sold 4,190,000 Ordinary Shares by two block trades each at $33.89 per share. All of the Ordinary Shares that are held of record by the Reporting Persons as reported herein were… Read the filing |
BlackRock, Inc. Passive investor | 5.8%+0.8 pts | 30 June 2025 | |
Millennium Management LLC Passive investor | at least 2.5%−2.8 pts (filed with 2 related holders) | 31 March 2026 | |
T. Rowe Price Investment Management, Inc. Passive investor | Sold down below 5% | 31 August 2025 | |
FMR LLC Passive investor | Sold down below 5% | 30 June 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 5 insiders bought $207,677 of shares on the open market. 13 sold $12m.
- Deslarzes Jean-ChristopheDirectorBought
- Date
- 3 August 2026
- Shares
- 1,490
- Price
- $27.24
- Value
- $40,588
- Ormerod JohnDirectorSold
- Date
- 4 June 2026
- Shares
- 8,000
- Price
- $35.01
- Value
- $280,080
- Becker MarcusSVP CPOSold
- Date
- 28 May 2026
- Shares
- 10,391
- Price
- $34.93
- Value
- $362,958
- Jarrett MartinSVP Chief Innovation OfficerSold
- Date
- 14 May 2026
- Shares
- 4,716
- Price
- $33.46
- Value
- $157,797
- Soultz Bradley LeeDirectorBought
- Date
- 14 May 2026
- Shares
- 2,500
- Price
- $33.84
- Value
- $84,600
- Piquier LudovicSVP Manuf Excellence & CTOSold
- Date
- 12 May 2026
- Shares
- 1,000
- Price
- $33.57
- Value
- $33,570
- Brun NicolasSVP PA, Comm & SustSold
- Date
- 11 May 2026
- Shares
- 26,661
- Price
- $33.85
- Value
- $902,475
- Corre StephanePresident, AS&ISold
- Date
- 8 May 2026
- Shares
- 5,000
- Price
- $33.52
- Value
- $167,600
- Guo Jack Q.EVP & CFOSold
- Date
- 5 May 2026
- Shares
- 25,201
- Price
- $32.62
- Value
- $822,057
- Brandjes MichielDirectorSold
- Date
- 5 May 2026
- Shares
- 10,400
- Price
- $31.25
- Value
- $325,000
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 3 August 2026 | Deslarzes Jean-Christophe Director | Bought | 1,490 | $27.24 | $40,588 |
| 4 June 2026 | Ormerod John Director | Sold | 8,000 | $35.01 | $280,080 |
| 28 May 2026 | Becker Marcus SVP CPO | Sold | 10,391 | $34.93 | $362,958 |
| 14 May 2026 | Jarrett Martin SVP Chief Innovation Officer | Sold | 4,716 | $33.46 | $157,797 |
| 14 May 2026 | Soultz Bradley Lee Director | Bought | 2,500 | $33.84 | $84,600 |
| 12 May 2026 | Piquier Ludovic SVP Manuf Excellence & CTO | Sold | 1,000 | $33.57 | $33,570 |
| 11 May 2026 | Brun Nicolas SVP PA, Comm & Sust | Sold | 26,661 | $33.85 | $902,475 |
| 8 May 2026 | Corre Stephane President, AS&I | Sold | 5,000 | $33.52 | $167,600 |
| 5 May 2026 | Guo Jack Q. EVP & CFO | Sold | 25,201 | $32.62 | $822,057 |
| 5 May 2026 | Brandjes Michiel Director | Sold | 10,400 | $31.25 | $325,000 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 25 Feb 2026, plus the 10-Q filed 29 Jul 2026 and 4 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 2.7× its equity.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.