My dears,
I have just noticed from the great discussion that there is a great deal of interest in companies with critical raw materials.
And this interest is also growing for me. That's why I need the community in particular today for a proper assessment of the company from the Netherlands.
I'm hoping for lots of comments on whether AMG Critical Materials is an investment for you.
- Sales growth in the single-digit range
- Net profit growth in the triple-digit range in 2026
- Net debt decreases
- Free cash flow increases
- EBIT margin rises into the double-digit range
- Dividend yield increases
- P/E ratio and P/B ratio fall and are still in an attractive range for the sector
- PEG of 0.2x is very attractive
(my assessment, how do you rate the multiples? )
AMG Critical Materials N.V. specializes in the production of specialty metals and vacuum furnace systems for the aerospace, electronics, optics, chemical, construction and transportation industries. Net sales break down by product family as follows:
- Metals and high-performance materials (56.3%): Aluminum alloys, magnesium alloys, silicon metal, chromium metal, tantalum oxides, titanium, vanadium chemicals, aluminum powders, coatings, etc.;
- Vacuum furnace systems (43.7 %): Injection moulding furnaces, casting furnaces, crystallization furnaces, carburizing furnaces, etc. The Group also offers vacuum heat treatment services.
The geographical breakdown of net sales is as follows: Netherlands (0.8 %), United States (30.7 %), China (13.4 %), Germany (11.4 %), France (6.1 %), Italy (4.1 %), Brazil (3.9 %), United Kingdom (3.5 %), Japan (3.4 %), Canada (2.7 %), India (2.4 %), Austria (2.2 %), Mexico (1.4 %), Belgium (1.2 %) and other (12.8 %).
Number of employees: 3,600
AMG is a critical materials entrepreneur, providing its customers now and for the future with everything they need to move the world. Safety, efficiency and innovation drive the company forward.
AMG capitalizes on market opportunities. With market-leading technologies in turbine blade coatings and specialty alloys, AMG is strengthening its position in the booming aerospace engine market. A further opportunity arises in electricity storage systems. The company is expanding its resource position in lithium and its market-leading vanadium recycling technology in North America and globally.
AMG is the world's largest recycler of vanadium-containing refinery waste. The construction of the spent catalyst recycling facility in Zanesville has established a truly closed-loop economy for the sector in North America and beyond. AMG is also expanding its position in the lithium sector and building a value chain for electric vehicle batteries in Europe.
The company is organized into three divisions: AMG Lithium, AMG Vanadium and AMG Technologies. With approximately 3,600 employees, AMG operates globally and has production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India and Sri Lanka, as well as sales and customer service offices in Japan.
GROWTH STRATEGY OVERVIEW
Proactive portfolio management: AMG and Asbury Carbons signed a definitive agreement in October 2025 under which AMG will sell Graphit Kropfmühl GmbH to Asbury Carbons. The transaction reflects an enterprise value of $65 million and AMG will use the proceeds from this transaction to strengthen its balance sheet and focus on its core growth businesses.
Strategic Developments:
- AMG Lithium is commencing the design of a 5,000 ton lithium carbonate to lithium hydroxide conversion facility at its Bitterfeld site, which will be designed to accept recycled lithium carbonate and convert it into engineered hydroxide for use in the main processing plant at Bitterfeld. As announced in December 2025, the investment cost of the plant is expected to be USD 50 million, of which 20% will be supported by a grant from the German Federal Ministry for Economic Affairs and Energy.
- The development of SARBV with the Advanced Circular Materials Company (ACMC) "Supercenter" Phase 1 project in Saudi Arabia is under construction and entering final documentation for project-based non-recourse financing. AMG's equity commitment to the project will be $30 million and AMG is the sole off-taker of the planned 8 million pounds of V2O5 produced from the facility.
- AMG announces the purchase of Aura Technologies GmbH and a subsequent investment of $40 million to expand Aura's production processes to produce high purity molybdenum from spent hydrodesulfurization (HDS) catalyst. Molybdenum is an essential component of HDS catalysts, and while Aura is a long-time processor of spent HDS catalyst, full recycle to catalyst-ready, high-purity molybdenum is only possible via AMG's proprietary processing technology.
AMG reports solid results for the full year 2025
AMG berichtet über solide Ergebnisse für das Gesamtjahr 2025 – AMG Corporate
AMG Critical Materials N.V. announces the strategic acquisition of AURA Technology to establish the first circular high-purity molybdenum platform
USD in millions
Estimates
Year Sales Change
2024 1.440 -11,44 %
2025 1.708 18,65 %
2026 1.772 3,72 %
2027 1.923 8,52 %
2028 2.158
Year EBIT Change
2024 109,5 -62,98 %
2025 168,9 54,24 %
2026 153,4 -9,16 %
2027 285,7 30,78 %
Year Net result Change
2024 -33,35 -132,92 %
2025 -18,62 44,16 %
2026 69,12 471,15 %
2027 123,6 78,82 %
2028 161,27
Year Net debt CAPEX
2024 468 107,7
2025 505 80,4
2026 477 86,77
2027 429 98,43
2028 356
Year Free cash flow Change
2024 -70,15 -200,75 %
2025 44,2 163,01 %
2026 64,8 46,61 %
2027 93,3 43,98 %
2028 176,65
Year EBIT margin ROE Leverage ratio
2024 7,61 % -6,25 % 2,78x
2025 9,89 % 5,43 % 2,19x
2026 8,66 % 9,94 % 2,18x
2027 11,27 % 18,61 % 1,5x
Year Earnings per share Change
2024 -1,03 -133,01 %
2025 -0,58 43,69 %
2026 1,979 95,91 %
2027 4,147 109,53 %
Year Dividend p share Yield
2024 0,4367 3,03 %
2025 0,4038 0,97 %
2026 0,4265 1,03 %
2027 0,4788 1,15 %
Year P/E ratio PEG
2024 -14x 0.92x 0x
2025 -57.5x 2.2x 1.3x
2026 21x 2.25x 0.2x
2027 10x 1.61x 0x
2028 8x
Market value 1,341
Number of shares (in thousands) 32,269
Date of publication 25,02,2026
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