Ferroglobe Financials
Ferroglobe (GSM) reported $1.3B in revenue for fiscal year 2025, down 18.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Earnings swing with the cycle, but low debt and steady reinvestment keep cash stress milder than profit stress.
FY2025’s-$177.1M net loss still became$51.5M of operating cash flow, so the downturn hit accounting earnings harder than cash generation and working capital likely provided some cushion. Because capex was$61.7M , free cash flow only slipped to-$10.2M ; that makes reinvestment, not debt service, the main reason cash finished slightly negative.
Borrowing is not the core pressure point: long-term debt was only
Cash generation is highly cyclical: free cash flow moved from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ferroglobe's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Ferroglobe, and counted as zero in the overall score.
Ferroglobe's revenue declined 18.8% year-over-year, from $1.6B to $1.3B. This contraction results in a growth score of 11/100.
Ferroglobe carries a low D/E ratio of 0.08, meaning only $0.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
Ferroglobe's current ratio of 1.66 indicates adequate short-term liquidity, earning a score of 47/100. The company can meet its near-term obligations, though with limited headroom.
While Ferroglobe generated $51.5M in operating cash flow, capex of $61.7M consumed most of it, leaving -$10.2M in free cash flow. This results in a low score of 42/100, reflecting heavy capital investment rather than weak cash generation.
Not available for Ferroglobe, and counted as zero in the overall score.
Ferroglobe passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Ferroglobe reported a net loss of $177.1M while generating $51.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Ferroglobe generated $1.3B in revenue in fiscal year 2025. This represents a decrease of 18.8% from the prior year.
Ferroglobe reported -$177.1M in net income in fiscal year 2025. This represents a decrease of 951.5% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Ferroglobe recorded an outflow of $10.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 106.1% from the prior year.
Ferroglobe held $122.8M in cash against $57.4M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Ferroglobe's net profit margin was -13.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 14.5 percentage points from the prior year.
Ferroglobe's ROE was -25.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 28.1 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Ferroglobe spent $4.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 93.2% from the prior year.
Ferroglobe invested $61.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 19.0% from the prior year.
Not reported for fiscal year 2025.
GSM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B-18.8% | $1.6B-0.4% | $1.7B-36.5% | $2.6B+46.0% | $1.8B+55.4% | $1.1B-29.1% | $1.6B-28.0% | $2.2B+28.7% | $1.7B+10.5% | $1.6B+19.7% | $1.3B |
| Interest Expense | $5.9M-0.5% | $5.9M+246.1% | $1.7M+8.1% | $1.6M+44.3% | $1.1M-19.0% | $1.4M-31.1% | $2.0M+1557.1% | $119K-27.0% | $163K | N/A | N/A |
| Income Tax | $2.5M-84.8% | $16.3M-71.8% | $57.5M-61.1% | $148.0M+3343.8% | -$4.6M-120.8% | $21.9M+152.8% | -$41.5M-303.0% | $20.5M+243.8% | -$14.2M+69.5% | -$46.7M-193.5% | $49.9M |
| Net Income | -$177.1M-951.5% | $20.8M-78.9% | $98.5M-77.8% | $443.8M+484.7% | -$115.4M+53.8% | -$249.8M+12.6% | -$285.6M-1262.4% | $24.6M+522.1% | -$5.8M+98.4% | -$358.6M-513.3% | -$58.5M |
| EPS (Diluted) | N/A | N/A | N/A | $2.32+468.3% | -$0.63+55.6% | -$1.42+34.3% | -$2.16 | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income.
GSM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B-3.9% | $1.5B-16.3% | $1.8B-10.2% | $2.0B+28.5% | $1.5B+13.1% | $1.3B-22.3% | $1.7B-18.3% | $2.1B+6.2% | $2.0B-0.9% | $2.0B | N/A |
| Current Assets | $733.7M-10.3% | $817.6M-21.2% | $1.0B-19.4% | $1.3B+60.0% | $804.3M+22.4% | $657.2M-19.7% | $818.1M-7.3% | $882.6M+27.7% | $691.3M-19.8% | $861.7M | N/A |
| Cash & Equivalents | $122.8M-7.6% | $133.0M-2.6% | $136.5M-57.1% | $317.9M+177.9% | $114.4M+11.4% | $102.7M+8.3% | $94.9M-56.2% | $216.6M+17.4% | $184.5M-6.4% | $197.0M+68.8% | $116.7M |
| Inventory | $306.2M-11.8% | $347.1M-9.6% | $383.8M-23.2% | $500.1M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | $310.2M-27.1% | $425.5M+11.7% | $381.1M+57.3% | $242.3M-21.6% | $309.1M+98.1% | $156.0M+40.0% | $111.5M-46.8% | $209.4M | N/A |
| Goodwill | $12.5M-12.3% | $14.2M-52.1% | $29.7M0.0% | $29.7M0.0% | $29.7M0.0% | $29.7M0.0% | $29.7M-85.4% | $202.8M-1.2% | $205.3M-10.8% | $230.2M-46.1% | $426.9M |
| Total Liabilities | $723.2M+13.3% | $638.2M-28.2% | $888.9M-26.0% | $1.2B-0.2% | $1.2B+22.6% | $981.4M-13.3% | $1.1B-8.7% | $1.2B+16.7% | $1.1B-5.7% | $1.1B | N/A |
| Current Liabilities | $441.3M-1.6% | $448.6M-9.2% | $494.0M-27.2% | $678.5M+3.8% | $653.6M+51.0% | $432.8M+8.9% | $397.5M-20.4% | $499.1M+10.9% | $450.2M-28.2% | $626.8M | N/A |
| Long-Term Debt | $57.4M+1.5% | $56.6M+3.9% | $54.5M+321.0% | $12.9M+29.8% | $10.0M-28.8% | $14.0M-17.5% | $17.0M-88.0% | $141.0M | N/A | $421.3M | N/A |
| Total Equity | $692.3M-17.0% | $834.2M-4.1% | $869.9M+14.9% | $756.8M+136.5% | $320.0M-12.5% | $365.7M-39.3% | $602.3M-31.9% | $884.4M-5.7% | $937.8M+5.1% | $892.0M-31.1% | $1.3B |
Not reported in any period shown, so not listed: Retained Earnings.
GSM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $51.5M-78.8% | $243.3M+36.4% | $178.4M-56.0% | $405.0M+30302.7% | -$1.3M-100.9% | $154.3M+594.5% | -$31.2M-126.7% | $116.8M-22.3% | $150.4M+24.1% | $121.2M-16.7% | $145.4M |
| Capital Expenditures | $61.7M-19.0% | $76.2M-9.0% | $83.7M+60.5% | $52.1M+89.0% | $27.6M-8.8% | $30.3M-6.7% | $32.4M-69.4% | $106.1M+42.2% | $74.6M+4.9% | $71.1M+3.8% | $68.5M |
| Free Cash Flow | -$10.2M-106.1% | $167.1M+76.5% | $94.7M-73.2% | $352.9M+1319.4% | -$28.9M-123.3% | $124.0M+294.9% | -$63.6M-697.0% | $10.7M-85.9% | $75.8M+51.4% | $50.0M-34.9% | $76.9M |
| Investing Cash Flow | -$73.1M-9.3% | -$66.9M+18.2% | -$81.8M-58.0% | -$51.8M-117.1% | -$23.8M+25.3% | -$31.9M-119.3% | $165.9M+293.2% | -$85.9M-14.8% | -$74.8M+11.2% | -$84.3M-569.1% | $18.0M |
| Financing Cash Flow | $3.5M+102.0% | -$175.5M+37.8% | -$282.1M-100.9% | -$140.5M-1443.8% | $10.5M+109.2% | -$113.3M+49.4% | -$224.0M-2278.0% | $10.3M+109.1% | -$113.4M-327.2% | $49.9M+157.0% | -$87.6M |
| Dividends Paid | $10.5M+7.1% | $9.8M | N/A | N/A | N/A | N/A | N/A | $20.6M | N/A | $55.0M+156.0% | $21.5M |
| Share Buybacks | $4.7M+93.2% | $2.4M | N/A | N/A | N/A | N/A | N/A | $20.1M | N/A | N/A | N/A |
GSM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -13.3%-14.5pp | 1.3%-4.7pp | 6.0%-11.1pp | 17.1%+23.6pp | -6.5%+15.3pp | -21.8%-4.1pp | -17.7%-18.8pp | 1.1%+1.4pp | -0.3%+22.4pp | -22.8%-18.3pp | -4.4% |
| Return on Equity | -25.6%-28.1pp | 2.5%-8.8pp | 11.3%-47.3pp | 58.6%+94.7pp | -36.0%+32.2pp | -68.3%-20.9pp | -47.4%-50.2pp | 2.8%+3.4pp | -0.6%+39.6pp | -40.2%-35.7pp | -4.5% |
| Return on Assets | -12.5%-13.9pp | 1.4%-4.2pp | 5.6%-17.1pp | 22.7%+30.2pp | -7.6%+11.0pp | -18.5%-2.1pp | -16.5%-17.6pp | 1.2%+1.4pp | -0.3%+17.5pp | -17.8% | N/A |
| Current Ratio | 1.66-0.2x | 1.82-0.3x | 2.10+0.2x | 1.90+0.7x | 1.23-0.3x | 1.52-0.5x | 2.06+0.3x | 1.77+0.2x | 1.54+0.2x | 1.37 | N/A |
| Debt-to-Equity | 0.080.0x | 0.070.0x | 0.060.0x | 0.020.0x | 0.030.0x | 0.040.0x | 0.03-0.1x | 0.16-1.0x | 1.13+0.7x | 0.47 | N/A |
| FCF Margin | -0.8%-10.9pp | 10.2%+4.4pp | 5.7%-7.8pp | 13.6%+15.2pp | -1.6%-12.5pp | 10.8%+14.8pp | -3.9%-4.4pp | 0.5%-3.9pp | 4.3%+1.2pp | 3.2%-2.7pp | 5.8% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
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Where Ferroglobe Ranks
Frequently Asked Questions
What is Ferroglobe's annual revenue?
Ferroglobe (GSM) reported $1.3B in total revenue for fiscal year 2025. This represents a -18.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ferroglobe's revenue growing?
Ferroglobe (GSM) revenue declined by 18.8% year-over-year, from $1.6B to $1.3B in fiscal year 2025.
Is Ferroglobe profitable?
No, Ferroglobe (GSM) reported a net income of -$177.1M in fiscal year 2025, with a net profit margin of -13.3%.
How much debt does Ferroglobe have?
As of fiscal year 2025, Ferroglobe (GSM) had $122.8M in cash and equivalents against $57.4M in long-term debt.
What is Ferroglobe's net profit margin?
Ferroglobe (GSM) had a net profit margin of -13.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ferroglobe's return on equity (ROE)?
Ferroglobe (GSM) has a return on equity of -25.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ferroglobe's free cash flow?
Ferroglobe (GSM) recorded an outflow of $10.2M in free cash flow during fiscal year 2025. This represents a -106.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ferroglobe's operating cash flow?
Ferroglobe (GSM) generated $51.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ferroglobe's total assets?
Ferroglobe (GSM) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ferroglobe's capital expenditures?
Ferroglobe (GSM) invested $61.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Ferroglobe's current ratio?
Ferroglobe (GSM) had a current ratio of 1.66 as of fiscal year 2025, which is generally considered healthy.
What is Ferroglobe's debt-to-equity ratio?
Ferroglobe (GSM) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ferroglobe's return on assets (ROA)?
Ferroglobe (GSM) had a return on assets of -12.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ferroglobe's Piotroski F-Score?
Ferroglobe (GSM) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ferroglobe's earnings high quality?
Ferroglobe (GSM) reported a net loss of $177.1M while generating $51.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ferroglobe?
Ferroglobe (GSM) scores 30 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.