The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Friday, August 14, 2026

Subject of the day

BFSA.DE

Concerning the House

Befesa S.A. offers environmental recycling services to the steel and aluminum industries in the European, Asian, and North American markets. It operates in two segments, Steel Dust Recycling Services and Aluminium Salt Slags Recycling Services. The Steel Dust Recycling Services segment collects and recycles crude steel dust; sells waelz oxide to zinc smelters; and treats crude steel dust; produces stainless steel by electric arc furnace or other metallurgical processes; and galvanization residues, as well as offers refining, logistics, administration, and advisory services. The Aluminium Salt Slags Recycling Services segment recycles salt slags; spent pot linings, a hazardous residue generated by primary aluminum producers; and recovers and sells salt, aluminum concentrate, and aluminum oxides. This segment also collects and recycles aluminum scrap and other aluminum residues, such as aluminum dross, shavings, cuttings, and aluminum concentrates; and produces secondary aluminum alloys for automotive and construction industries. The company also provides logistics, and waelz oxide and aluminum waste treatment services, as well as develops projects and technology. Befesa S.A. was founded in 1987 and is based in Luxembourg, Luxembourg.

Luxembourg · www.befesa.com

The Ledger
LineMar 2025Jun 2025Dec 2025Mar 2026
Revenue$308.38M$293.25M$290.75M$285.21M
Gross profit$171.64M$168.38M$168.41M$171.19M
Operating income$31.85M$35.80M$48.13M$37.36M
Net income$18.62M$21.44M$19.76M$20.70M
Diluted EPS0.470.540.52
Free cash flow$15.87M$11.60M$74.24M$12.39M
CapEx-$18.11M-$18.83M-$22.73M-$25.75M
Quotation

$36.20

+0.35 (+1.0%)

52w hi$36.65
52w lo$25.63
Vol72.81K
As ofAug 13
The Verdict

Hold

Our score +0.10

Short-0.09
Medium+0.11
Long+0.44

computed 2026-08-13

By the Numbers

Befesa S.A.

Industrials · Waste Management

Market cap$1.45B
Enterprise value$2.01B
Trailing P/E16.92x
Forward P/E13.04x
EV / EBITDA8.49x
P / S (ttm)1.24x
Profit margin7.3%
Return on equity11.0%
Revenue growth+3.8%
Earnings growth+13.0%
Debt / equity92.11
Risk Metrics
Beta vs SPX0.37
Corr SPX0.17
Annual vol35.3%
Annual ret+16.2%
Sharpe0.46
Max DD-34.4%

Window: 504 trading days (489 obs)

Layer Breakdown
LayerRawContribution
Fundamental+0.39
Sector+0.07
Technical+0.00
Earnings+0.00
Sentiment+0.03

macro × 1.00 · 2026-08-13

Recent Sessions
DateOpenHighLowCloseVol
Aug 13$35.80$36.70$35.55$36.2072.81K
Aug 12$36.50$37.20$35.85$35.8561.23K
Aug 11$36.25$37.15$36.00$36.6557.65K
Aug 10$36.00$36.45$35.75$36.0047.82K
Aug 7$36.35$36.45$35.95$36.0035.19K