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Tubacex SA
MAD:TUB

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Tubacex SA
MAD:TUB
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Price: 3.255 EUR -2.98%
Market Cap: €393.2m

EV/EBITDA

5.9
Current
79%
More Expensive
vs 3-y average of 3.3

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
5.9
=
Enterprise Value
€439.9m
/
EBITDA
€75.1m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
5.9
=
Enterprise Value
€439.9m
/
EBITDA
€75.1m

Valuation Scenarios

Tubacex SA is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (3.3), the stock would be worth €1.82 (44% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-65%
Maximum Upside
+64%
Average Downside
19%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 5.9 €3.26
0%
3-Year Average 3.3 €1.82
-44%
5-Year Average 4.1 €2.23
-32%
Industry Average 2.1 €1.15
-65%
Country Average 9.7 €5.32
+64%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
€439.9m
/
Jan 2026
€75.1m
=
5.9
Current
€439.9m
/
Dec 2026
€124.7m
=
3.5
Forward
€439.9m
/
Dec 2027
€147.6m
=
3
Forward
€439.9m
/
Dec 2028
€144.9m
=
3
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
ES
Tubacex SA
MAD:TUB
399.4m EUR 5.9 -12.8
ZA
Kumba Iron Ore Ltd
JSE:KIO
102.4B ZAR 3.5 7
BR
Vale SA
BOVESPA:VALE3
378.8B BRL 5.3 27.5
LU
ArcelorMittal SA
AEX:MT
40.3B EUR 9.4 14.6
AU
Fortescue Metals Group Ltd
ASX:FMG
65.2B AUD 8.1 11.8
US
Nucor Corp
NYSE:NUE
46.3B USD 12.4 27.1
AU
Fortescue Ltd
XMUN:FVJ
39.2B EUR 8.1 12.1
IN
JSW Steel Ltd
NSE:JSWSTEEL
3.1T INR 14.1 41.8
US
Steel Dynamics Inc
NASDAQ:STLD
30.6B USD 17.2 26.6
IN
Tata Steel Ltd
NSE:TATASTEEL
2.6T INR 10.7 28.8
US
Carpenter Technology Corp
NYSE:CRS
22.5B USD 29.9 49.9
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
ES
Tubacex SA
MAD:TUB
Average EV/EBITDA: 11.3
5.9
25%
0.2
ZA
K
Kumba Iron Ore Ltd
JSE:KIO
3.5
5%
0.7
BR
Vale SA
BOVESPA:VALE3
5.3
6%
0.9
LU
ArcelorMittal SA
AEX:MT
9.4
24%
0.4
AU
Fortescue Metals Group Ltd
ASX:FMG
8.1
13%
0.6
US
Nucor Corp
NYSE:NUE
12.4
14%
0.9
AU
F
Fortescue Ltd
XMUN:FVJ
8.1
13%
0.6
IN
JSW Steel Ltd
NSE:JSWSTEEL
14.1
23%
0.6
US
Steel Dynamics Inc
NASDAQ:STLD
17.2
22%
0.8
IN
Tata Steel Ltd
NSE:TATASTEEL
10.7
29%
0.4
US
Carpenter Technology Corp
NYSE:CRS
29.9
20%
1.5
P/E Multiple
Earnings Growth PEG
ES
Tubacex SA
MAD:TUB
Average P/E: 24.7
Negative Multiple: -12.8
N/A N/A
ZA
K
Kumba Iron Ore Ltd
JSE:KIO
7
-5%
N/A
BR
Vale SA
BOVESPA:VALE3
27.5
47%
0.6
LU
ArcelorMittal SA
AEX:MT
14.6
18%
0.8
AU
Fortescue Metals Group Ltd
ASX:FMG
11.8
-5%
N/A
US
Nucor Corp
NYSE:NUE
27.1
25%
1.1
AU
F
Fortescue Ltd
XMUN:FVJ
12.1
-5%
N/A
IN
JSW Steel Ltd
NSE:JSWSTEEL
41.8
72%
0.6
US
Steel Dynamics Inc
NASDAQ:STLD
26.6
23%
1.2
IN
Tata Steel Ltd
NSE:TATASTEEL
28.8
82%
0.4
US
Carpenter Technology Corp
NYSE:CRS
49.9
24%
2.1

Market Distribution

Lower than 74% of companies in Spain
Percentile
26th
Based on 638 companies
26th percentile
5.9
Low
0 — 6.5
Typical Range
6.5 — 15.3
High
15.3 —
Distribution Statistics
Spain
Min 0
30th Percentile 6.5
Median 9.7
70th Percentile 15.3
Max 700.4

Tubacex SA
Glance View

Market Cap
393.2m EUR
Industry
Metals & Mining

Tubacex SA is engaged in manufacturing seamless tubes in stainless steel and high-nickel alloys and superalloys. The company is headquartered in Llodio, Alava and currently employs 2,336 full-time employees. The firm's main activity is the manufacture, distribution and sale of seamless stainless steel tubes and pipes. The Company’s product portfolio also includes hollow bars, steel and fittings. The company has operations established in Europe, the Americas and Asia.The Company is a parent of Grupo Tubacex, a group, which comprises a number of controlled entities, including Aceria de Alava SA, Tubacex Tubos Inoxidables SA, Schoeller-Bleckmann Edelstahlrohr Inmobilien AG, Salem Tube Inc, Tubacex Taylor Accesorios SA and Metaux Inox Services SAS, among others.

TUB Intrinsic Value
5.884 EUR
Undervaluation 45%
Intrinsic Value
Price €3.255
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