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AMG Advanced Metallurgical Group NV (AMG) fair value: what the stock is really worth

As of Nov 2, 2026: fair value (intrinsic value) of AMG Advanced Metallurgical Group NV stock €28.93, price €24.18, upside +19.7%, quality 36 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Basic Materials NL · ISIN NL0000888691

AA AMG Advanced Metallurgical Group NV logo Some data Nov 2, 2026

AMG Advanced Metallurgical Group NV

AMG · AS
Speculative

The stock costs 16% less than our calculation considers fair.

Fair value €28.93 · Undervalued (16%)
Last quarter vs. a year ago: revenue +19%, profit +129%.
Expensive Growth (revenue 5y +13.7 %/yr in EUR)
Thin margins · 0.3% net margin (TTM)
Moderate debt
Mixed vs. peers (7/14)
Some data
Quality 36/100
Negative free cash flow
1.7% dividend yield · Pays more than it earns
Narrow moat 28/100 · thin data
⟳ Cyclical⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€46.70 €12.01 Fair Value €28.93 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.

How to read this chart

60‑month range €12.01 – €46.70 · fair‑value band €14.92 – €42.93 · the €24.18 price screens below the €28.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.

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Company profile

AMG Critical Materials N.V., together with its subsidiaries, develops, produces, and sells energy storage materials in the United States, China, Germany, France, Japan, Brazil, Africa, and internationally. It operates through three segments: AMG Lithium, AMG Vanadium, and AMG Technologies.

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The company extracts spodumene; and produces technical-grade lithium carbonate and battery-grade lithium hydroxide.

It also engages in the recycling of vanadium from oil refining residues; and production of ferrovanadium, custom master alloys and coating materials, titanium aluminides, chromium metals, and specialty products.

In addition, the company offers equipment engineering to the aerospace engine sector; designs, engineers, and produces advanced vacuum furnace systems; provides LIVA hybrid energy storage system for industrial applications; and produces high-purity natural graphite, as well as antimony trioxide from base forms of antimony metal.

It serves transportation, energy, infrastructure, and specialty metals and chemicals industries. The company was formerly known as AMG Advanced Metallurgical Group N.V. and changed its name to AMG Critical Materials N.V. in May 2023.

AMG Critical Materials N.V. was incorporated in 2006 and is headquartered in Amsterdam, the Netherlands.

Stock analysis

AMG Advanced Metallurgical Group NV (AMG) currently trades at €24.18, while our model-based Fair Value estimate is €28.93, implying the stock looks roughly 16.4% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €17.01 per share, and 1 of the 4 models we run sit above the €24.18 price.

Bear case: the Asset-Based group reads lowest at €8.21, and 3 of the 4 models stay below the price. Data coverage for this calculation is medium.

Scenario range: €14.92 (bear) to €42.93 (bull), the price of €24.18 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 36/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

AMG Advanced Metallurgical Group NV reported revenue of $1.8B in FY2025 versus $1.2B in FY2021, a compound +10.2%/yr. Reported net income was −$19.4M in FY2025.

Key figures

Market cap €882M Small · P/E ratio 403.0 · P/S ratio 0.53 · EPS (TTM) €0.0600 · Dividend yield 1.7% · Net margin 0.3% · Return on equity 1.6% · Return on assets (EBIT) 6.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 42% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −16% fair-value upside, at 20%, AMG screens cheaper than that median.

Fair Value models

Bear €14.92 Fair Value €28.93 Bull €42.93
Price €24.18 · Upside +19.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EV/EBITDA €14.69 €24.90 €35.11 65
EV/EBIT €8.77 €17.01 €25.24 63
NCAV (Graham) €6.12 €8.21 €12.25 54
All 4 models by family
Multiples
EV/EBIT €8.77 €17.01 €25.24 63
EV/EBITDA €14.69 €24.90 €35.11 65
EV/Revenue €5.47 €14.65 €23.83 50
Asset-Based
NCAV (Graham) €6.12 €8.21 €12.25 54

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 36/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 22
How much profit the company makes from its sales and capital
Quality Growth 75
Are margins and returns getting better?
Cashflow 13
Do the profits arrive as real cash?
Financial strength 24
Debt, balance sheet and risk of trouble
Investment 79
Does it invest with discipline instead of growing at any price?
Low Volatility 40
How calm the share price moves, does not count
Price momentum 21
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 15
Distance to the 52-week high, does not count
New shares 21
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+23.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.7%
Start year 2020 (pandemic). Over 10 years: +6.2% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.4%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−1.3% (2020) → 5.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Earlier news

News mood ⓘNews mood, the average tone of recent news (40 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 361 stocks

Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 36 · Below median
Fair Value upside +19.7% · Top 25%
Profitability
Return on equity (12 months) 1.6% · Above median
Return on assets −0.9% · Above median
Net margin (12 months) 0.3% · Below median
Operating margin (12 months) 12.2% · Above median
Growth and dividend
Revenue growth (quarter YoY) 19.1% · Above median
Dividend yield (12 months) 1.7% · Below median
Balance sheet
Debt / equity 1.38× · Highest 25%

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/E (12 months) 403.0× · Priciest 25%
P/B 1.82× · Pricier than median
P/S (12 months) 0.53× · Cheapest 25%
EV/EBITDA 5.1× · Cheaper than median
PEG 2.74× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)60 · sector 0
FUTURE (revenue growth)96 · sector 94
PAST (return on equity)6 · sector 0
HEALTH (low debt)31 · sector 95
DIVIDEND (yield)33 · sector 35

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Western Mining Co 601168 ¥29.07 ¥32.43 +12% vs AMG
Saudi Arabian Mining Company 1211 55.65 SAR 60.39 SAR +9% vs AMG
Hindustan Zinc Limited HINDZINC ₹518.00 ₹556.38 +7% vs AMG
Boliden AB BOL kr 516.00 kr 464.45 −10% vs AMG
Zhejiang Huayou Cobalt Co 603799 ¥30.31 ¥25.57 −16% vs AMG
Vedanta Limited VEDL ₹246.00 ₹194.69 −21% vs AMG
Korea Zinc Company 010130 876,000 KRW 649,125 KRW −26% vs AMG
Xiamen Tungsten Co 600549 ¥33.81 ¥19.72 −42% vs AMG
CMOC Group 603993 ¥13.32 ¥6.99 −48% vs AMG
Ivanhoe Mines Ltd IVN C$9.04 C$4.43 −51% vs AMG

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Cite: Fair Value Calculator (2026). "AMG Advanced Metallurgical Group NV Fair Value". https://www.fairvalue-calculator.com/stock/AMG.AS

Frequently asked questions

Is AMG Advanced Metallurgical Group NV (AMG) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of €28.93 versus a price of €24.18, about +20% upside (undervalued).
What is the fair value of AMG?
Our model-based fair value for AMG Advanced Metallurgical Group NV is €28.93 (as of Nov 2, 2026), built from audited fundamentals. The current price: €24.18.
What is the quality score of AMG?
AMG Advanced Metallurgical Group NV has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for AMG Advanced Metallurgical Group NV (AMG)?
Our model-based price target is the fair value of €28.93 (as of Nov 2, 2026) from 4 valuation models. Cautious scenario €14.92, optimistic scenario €42.93. It is a calculation from audited fundamentals, not an analyst target.
What is the AMG Advanced Metallurgical Group NV stock forecast for 2026?
Our models put fair value at €28.93, about +20% upside versus a price of €24.18 (undervalued). Cautious scenario €14.92, optimistic scenario €42.93. The calculation is refreshed regularly with new filings.
What is the revenue of AMG Advanced Metallurgical Group NV (AMG)?
AMG Advanced Metallurgical Group NV reported trailing-twelve-month revenue of about €1.9B (latest available figure, as of Nov 2, 2026).
Does AMG Advanced Metallurgical Group NV pay a dividend?
AMG Advanced Metallurgical Group NV currently shows a dividend yield of 1.65% relative to its recent price (as of Nov 2, 2026).
What is the intrinsic value of AMG Advanced Metallurgical Group NV (AMG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For AMG Advanced Metallurgical Group NV it is €28.93 per share (as of Nov 2, 2026), against a price of €24.18. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is AMG Advanced Metallurgical Group NV stock overvalued or undervalued in 2026?
As of Nov 2, 2026, AMG trades below its calculated fair value: price €24.18, fair value €28.93, a gap of about +20% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AMG?
No. The price is what the market pays today (€24.18); the fair value is what the company's own numbers justify (€28.93). For AMG Advanced Metallurgical Group NV the two are €4.75 per share apart. That gap is exactly why we show both numbers side by side.
How much is AMG Advanced Metallurgical Group NV worth?
The market values AMG Advanced Metallurgical Group NV at about €882M (market capitalisation, as of Nov 2, 2026). Per share that is €24.18; our models calculate a fair value of €28.93 per share.
What do the bullish and bearish scenarios say about AMG?
Our models span a range for AMG Advanced Metallurgical Group NV: cautious scenario €14.92, base €28.93, optimistic €42.93 per share (as of Nov 2, 2026, price €24.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AMG?
AMG Advanced Metallurgical Group NV trades at a price-to-earnings ratio of 403.0 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €28.93 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2016 to 2023), reported earnings: 10.4. Other multiples: PEG 2.7, P/B 1.8, P/S 0.5, EV/EBITDA 5.1.
What is the PEG ratio of AMG?
The PEG ratio of AMG Advanced Metallurgical Group NV is 2.74 (P/E divided by earnings growth, as of Nov 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of AMG Advanced Metallurgical Group NV (AMG)?
Balance-sheet figures for AMG Advanced Metallurgical Group NV (as of Nov 2, 2026): return on equity 1.6%, debt of 1.38 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is AMG from its 52-week high?
AMG Advanced Metallurgical Group NV trades at €24.18, about 42% below its 52-week high of €41.83 and 6% above the low of €22.74 (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of €28.93 is for.
Which stocks are comparable to AMG Advanced Metallurgical Group NV?
From the same area (Basic Materials) we also value Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, Boliden AB, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is AMG Advanced Metallurgical Group NV stock attractive at the current price?
The data as of Nov 2, 2026: price €24.18, calculated fair value €28.93 (+20%), Quality Score 36/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AMG calculated?
We run AMG Advanced Metallurgical Group NV through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €28.93, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.2 % above its aggregate fair value. AMG Advanced Metallurgical Group NV currently trades 16 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of AMG Advanced Metallurgical Group NV (AMG)?
The closing price on Nov 2, 2026 was €24.18. Our model-based fair value is €28.93, about +20% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with AMG Advanced Metallurgical Group NV right now?
The model range is unusually wide (€14.92 to €42.93). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of AMG Advanced Metallurgical Group NV

How large is the market capitalisation of AMG Advanced Metallurgical Group NV (AMG)?
The market capitalisation of AMG Advanced Metallurgical Group NV is €882M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of AMG Advanced Metallurgical Group NV (AMG)?
The price-to-sales ratio of AMG Advanced Metallurgical Group NV is 0.53 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of AMG Advanced Metallurgical Group NV (AMG)?
Earnings per share at AMG Advanced Metallurgical Group NV are €0.0600 (price ÷ EPS = P/E 403.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of AMG Advanced Metallurgical Group NV (AMG)?
The dividend yield of AMG Advanced Metallurgical Group NV is 1.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of AMG Advanced Metallurgical Group NV (AMG)?
The net margin of AMG Advanced Metallurgical Group NV is 0.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of AMG Advanced Metallurgical Group NV (AMG)?
The return on equity (ROE) of AMG Advanced Metallurgical Group NV is 1.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of AMG Advanced Metallurgical Group NV (AMG)?
On an EBIT basis the return on assets of AMG Advanced Metallurgical Group NV is 6.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of AMG Advanced Metallurgical Group NV (AMG)?
The operating margin of AMG Advanced Metallurgical Group NV is 12.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AMG Advanced Metallurgical Group NV (AMG)?
Revenue at AMG Advanced Metallurgical Group NV is growing +19.1% versus a year earlier (3y avg +2.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at AMG Advanced Metallurgical Group NV (AMG)?
Earnings per share at AMG Advanced Metallurgical Group NV are growing +129% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does AMG Advanced Metallurgical Group NV (AMG) generate?
The free cash flow of AMG Advanced Metallurgical Group NV is −€19.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does AMG Advanced Metallurgical Group NV (AMG) carry?
The net debt of AMG Advanced Metallurgical Group NV is €634M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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