Logo image of SLX

VANECK STEEL ETF (SLX) Stock Overview

USA - NYSEARCA:SLX - US92189F2056 - ETF

74.36 USD
+0.35 (+0.47%)
Last: 10/3/2025, 8:04:07 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to SLX. SLX was compared to 81 industry peers in the Automobile Components industry. Both the profitability and the financial health of SLX get a neutral evaluation. Nothing too spectacular is happening here. While showing a medium growth rate, SLX is valued expensive at the moment. SLX also has an excellent dividend rating. These ratings could make SLX a good candidate for dividend investing.


Dividend Valuation Growth Profitability Health

Quickly go to:

5

1. Profitability

1.1 Basic Checks

SLX had positive earnings in the past year.
SLX had a positive operating cash flow in the past year.
Each year in the past 5 years SLX has been profitable.
In the past 5 years SLX always reported a positive cash flow from operatings.
SLX Yearly Net Income VS EBIT VS OCF VS FCFSLX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B 5B

1.2 Ratios

SLX has a Return On Assets (4.39%) which is in line with its industry peers.
The Return On Equity of SLX (8.81%) is comparable to the rest of the industry.
Looking at the Return On Invested Capital, with a value of 8.17%, SLX is in line with its industry, outperforming 50.62% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for SLX is in line with the industry average of 8.51%.
Industry RankSector Rank
ROA 4.39%
ROE 8.81%
ROIC 8.17%
ROA(3y)5.45%
ROA(5y)4.73%
ROE(3y)10.95%
ROE(5y)10.02%
ROIC(3y)9.25%
ROIC(5y)8.5%
SLX Yearly ROA, ROE, ROICSLX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

SLX has a Profit Margin (5.84%) which is in line with its industry peers.
In the last couple of years the Profit Margin of SLX has remained more or less at the same level.
The Operating Margin of SLX (10.65%) is comparable to the rest of the industry.
SLX's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 27.60%, SLX is in line with its industry, outperforming 49.38% of the companies in the same industry.
SLX's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 10.65%
PM (TTM) 5.84%
GM 27.6%
OM growth 3Y-2.46%
OM growth 5Y-1.24%
PM growth 3Y-3.58%
PM growth 5Y-0.79%
GM growth 3Y-0.99%
GM growth 5Y-0.59%
SLX Yearly Profit, Operating, Gross MarginsSLX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

More info and screens

5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SLX is creating some value.
Compared to 1 year ago, SLX has less shares outstanding
Compared to 5 years ago, SLX has less shares outstanding
SLX has a worse debt/assets ratio than last year.
SLX Yearly Shares OutstandingSLX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
SLX Yearly Total Debt VS Total AssetsSLX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

An Altman-Z score of 3.38 indicates that SLX is not in any danger for bankruptcy at the moment.
SLX has a Altman-Z score of 3.38. This is in the better half of the industry: SLX outperforms 74.07% of its industry peers.
SLX has a debt to FCF ratio of 6.05. This is a slightly negative value and a sign of low solvency as SLX would need 6.05 years to pay back of all of its debts.
SLX has a Debt to FCF ratio (6.05) which is comparable to the rest of the industry.
SLX has a Debt/Equity ratio of 0.32. This is a healthy value indicating a solid balance between debt and equity.
SLX has a Debt to Equity ratio of 0.32. This is comparable to the rest of the industry: SLX outperforms 45.68% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 6.05
Altman-Z 3.38
ROIC/WACC1.09
WACC7.47%
SLX Yearly LT Debt VS Equity VS FCFSLX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

SLX has a Current Ratio of 1.80. This is a normal value and indicates that SLX is financially healthy and should not expect problems in meeting its short term obligations.
SLX's Current ratio of 1.80 is on the low side compared to the rest of the industry. SLX is outperformed by 65.43% of its industry peers.
A Quick Ratio of 1.12 indicates that SLX should not have too much problems paying its short term obligations.
SLX has a Quick ratio of 1.12. This is in the lower half of the industry: SLX underperforms 66.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.8
Quick Ratio 1.12
SLX Yearly Current Assets VS Current LiabilitesSLX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

More info and screens

4

3. Growth

3.1 Past

SLX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -18.28%.
SLX shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.64% yearly.
Looking at the last year, SLX shows a decrease in Revenue. The Revenue has decreased by -3.62% in the last year.
SLX shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.41% yearly.
EPS 1Y (TTM)-18.28%
EPS 3Y0.78%
EPS 5Y1.64%
EPS Q2Q%-26.88%
Revenue 1Y (TTM)-3.62%
Revenue growth 3Y4.55%
Revenue growth 5Y2.41%
Sales Q2Q%-3.36%

3.2 Future

The Earnings Per Share is expected to grow by 15.63% on average over the next years. This is quite good.
SLX is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.47% yearly.
EPS Next Y21.13%
EPS Next 2Y18.35%
EPS Next 3Y15.63%
EPS Next 5YN/A
Revenue Next Year-2%
Revenue Next 2Y0.2%
Revenue Next 3Y1.31%
Revenue Next 5Y2.47%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
SLX Yearly Revenue VS EstimatesSLX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 10B 20B 30B
SLX Yearly EPS VS EstimatesSLX Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3 4

More info and screens

2

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 28.93, SLX can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Earnings ratio of SLX indicates a slightly more expensive valuation: SLX is more expensive than 65.43% of the companies listed in the same industry.
SLX is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.86, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 17.27, which indicates a rather expensive current valuation of SLX.
SLX's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. SLX is more expensive than 62.96% of the companies in the same industry.
SLX's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.32.
Industry RankSector Rank
PE 28.93
Fwd PE 17.27
SLX Price Earnings VS Forward Price EarningsSLX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SLX is on the same level as its industry peers.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of SLX indicates a slightly more expensive valuation: SLX is more expensive than 62.96% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 36.07
EV/EBITDA 9.99
SLX Per share dataSLX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
SLX's earnings are expected to grow with 15.63% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.37
PEG (5Y)17.61
EPS Next 2Y18.35%
EPS Next 3Y15.63%

More info and screens

7

5. Dividend

5.1 Amount

SLX has a Yearly Dividend Yield of 4.41%, which is a nice return.
Compared to an average industry Dividend Yield of 3.93, SLX pays a better dividend. On top of this SLX pays more dividend than 87.65% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.41, SLX pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.41%

5.2 History

The dividend of SLX is nicely growing with an annual growth rate of 7.84%!
SLX has been paying a dividend for at least 10 years, so it has a reliable track record.
SLX has decreased its dividend recently.
Dividend Growth(5Y)7.84%
Div Incr Years1
Div Non Decr Years1
SLX Yearly Dividends per shareSLX Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 2 3

5.3 Sustainability

SLX pays out 62.40% of its income as dividend. This is not a sustainable payout ratio.
The dividend of SLX is growing, but earnings are growing more, so the dividend growth is sustainable.
DP62.4%
EPS Next 2Y18.35%
EPS Next 3Y15.63%
SLX Yearly Income VS Free CF VS DividendSLX Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B
SLX Dividend Payout.SLX Dividend Payout, showing the Payout Ratio.SLX Dividend Payout.PayoutRetained Earnings

More info and screens

VANECK STEEL ETF

NYSEARCA:SLX (10/3/2025, 8:04:07 PM)

74.36

+0.35 (+0.47%)

Chartmill FA Rating
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobile Components
Earnings (Last)07-24 2025-07-24/amc
Earnings (Next)02-22 2026-02-22/amc
Inst Owners46.28%
Inst Owner Change-3.72%
Ins Owners0%
Ins Owner ChangeN/A
Market Cap52.48B
Analysts80
Price Target88.68 (19.26%)
Short Float %0.01%
Short Ratio2.64
Dividend
Industry RankSector Rank
Dividend Yield 4.41%
Yearly Dividend1.59
Dividend Growth(5Y)7.84%
DP62.4%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)11.98%
PT rev (3m)27.19%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.32%
EPS NY rev (3m)-10.51%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.37%
Revenue NY rev (3m)-2.81%
Valuation
Industry RankSector Rank
PE 28.93
Fwd PE 17.27
P/S 1.67
P/FCF 36.07
P/OCF 13.22
P/B 2.52
P/tB 3.43
EV/EBITDA 9.99
EPS(TTM)2.57
EY3.46%
EPS(NY)4.31
Fwd EY5.79%
FCF(TTM)2.06
FCFY2.77%
OCF(TTM)5.62
OCFY7.56%
SpS44.46
BVpS29.47
TBVpS21.69
PEG (NY)1.37
PEG (5Y)17.61
Profitability
Industry RankSector Rank
ROA 4.39%
ROE 8.81%
ROCE 10.41%
ROIC 8.17%
ROICexc 9.37%
ROICexgc 11.66%
OM 10.65%
PM (TTM) 5.84%
GM 27.6%
FCFM 4.64%
ROA(3y)5.45%
ROA(5y)4.73%
ROE(3y)10.95%
ROE(5y)10.02%
ROIC(3y)9.25%
ROIC(5y)8.5%
ROICexc(3y)10.37%
ROICexc(5y)9.81%
ROICexgc(3y)12.78%
ROICexgc(5y)12.13%
ROCE(3y)11.87%
ROCE(5y)10.97%
ROICexcg growth 3Y-1.65%
ROICexcg growth 5Y0.27%
ROICexc growth 3Y-2.16%
ROICexc growth 5Y0.21%
OM growth 3Y-2.46%
OM growth 5Y-1.24%
PM growth 3Y-3.58%
PM growth 5Y-0.79%
GM growth 3Y-0.99%
GM growth 5Y-0.59%
F-Score5
Asset Turnover0.75
Health
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 6.05
Debt/EBITDA 1.17
Cap/Depr 107.96%
Cap/Sales 8.01%
Interest Coverage 9.96
Cash Conversion 70%
Profit Quality 79.44%
Current Ratio 1.8
Quick Ratio 1.12
Altman-Z 3.38
F-Score5
WACC7.47%
ROIC/WACC1.09
Cap/Depr(3y)113.8%
Cap/Depr(5y)101.88%
Cap/Sales(3y)7.8%
Cap/Sales(5y)7.31%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-18.28%
EPS 3Y0.78%
EPS 5Y1.64%
EPS Q2Q%-26.88%
EPS Next Y21.13%
EPS Next 2Y18.35%
EPS Next 3Y15.63%
EPS Next 5YN/A
Revenue 1Y (TTM)-3.62%
Revenue growth 3Y4.55%
Revenue growth 5Y2.41%
Sales Q2Q%-3.36%
Revenue Next Year-2%
Revenue Next 2Y0.2%
Revenue Next 3Y1.31%
Revenue Next 5Y2.47%
EBIT growth 1Y-17.5%
EBIT growth 3Y1.98%
EBIT growth 5Y1.14%
EBIT Next Year59.12%
EBIT Next 3Y22.78%
EBIT Next 5Y17.41%
FCF growth 1Y-20.46%
FCF growth 3Y21.5%
FCF growth 5Y7.22%
OCF growth 1Y-10.1%
OCF growth 3Y14.27%
OCF growth 5Y5.48%