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Also traded in: Germany, Mexico

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash-to-Debt 0.10
AKS's Cash-to-Debt is ranked lower than
80% of the 545 Companies
in the Global Steel industry.

( Industry Median: 0.55 vs. AKS: 0.10 )
Ranked among companies with meaningful Cash-to-Debt only.
AKS' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.02  Med: 0.18 Max: N/A
Current: 0.1
Equity-to-Asset -0.06
AKS's Equity-to-Asset is ranked lower than
96% of the 532 Companies
in the Global Steel industry.

( Industry Median: 0.46 vs. AKS: -0.06 )
Ranked among companies with meaningful Equity-to-Asset only.
AKS' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.37  Med: 0.14 Max: 0.36
Current: -0.06
-0.37
0.36
Interest Coverage 1.84
AKS's Interest Coverage is ranked lower than
80% of the 425 Companies
in the Global Steel industry.

( Industry Median: 9.37 vs. AKS: 1.84 )
Ranked among companies with meaningful Interest Coverage only.
AKS' s Interest Coverage Range Over the Past 10 Years
Min: 0.5  Med: 1.02 Max: 9.14
Current: 1.84
0.5
9.14
Piotroski F-Score: 8
Altman Z-Score: 1.15
Beneish M-Score: -2.62
WACC vs ROIC
15.54%
18.95%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating Margin % 5.00
AKS's Operating Margin % is ranked higher than
58% of the 542 Companies
in the Global Steel industry.

( Industry Median: 2.56 vs. AKS: 5.00 )
Ranked among companies with meaningful Operating Margin % only.
AKS' s Operating Margin % Range Over the Past 10 Years
Min: -3.11  Med: 0.84 Max: 8.92
Current: 5
-3.11
8.92
Net Margin % 1.16
AKS's Net Margin % is ranked lower than
66% of the 544 Companies
in the Global Steel industry.

( Industry Median: 1.49 vs. AKS: 1.16 )
Ranked among companies with meaningful Net Margin % only.
AKS' s Net Margin % Range Over the Past 10 Years
Min: -17.31  Med: -1.66 Max: 5.54
Current: 1.16
-17.31
5.54
ROA % 1.71
AKS's ROA % is ranked lower than
66% of the 550 Companies
in the Global Steel industry.

( Industry Median: 1.57 vs. AKS: 1.71 )
Ranked among companies with meaningful ROA % only.
AKS' s ROA % Range Over the Past 10 Years
Min: -24.6  Med: -1.99 Max: 7.24
Current: 1.71
-24.6
7.24
ROC (Joel Greenblatt) % 10.31
AKS's ROC (Joel Greenblatt) % is ranked higher than
58% of the 548 Companies
in the Global Steel industry.

( Industry Median: 6.36 vs. AKS: 10.31 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
AKS' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -8.44  Med: -0.46 Max: 21.81
Current: 10.31
-8.44
21.81
3-Year Revenue Growth Rate -14.60
AKS's 3-Year Revenue Growth Rate is ranked lower than
76% of the 497 Companies
in the Global Steel industry.

( Industry Median: -5.40 vs. AKS: -14.60 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
AKS' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -22.1  Med: -1.65 Max: 34.1
Current: -14.6
-22.1
34.1
3-Year EBITDA Growth Rate -7.50
AKS's 3-Year EBITDA Growth Rate is ranked lower than
69% of the 387 Companies
in the Global Steel industry.

( Industry Median: 3.20 vs. AKS: -7.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
AKS' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -64.1  Med: -8.65 Max: 125.8
Current: -7.5
-64.1
125.8
3-Year EPS without NRI Growth Rate -55.50
AKS's 3-Year EPS without NRI Growth Rate is ranked lower than
95% of the 343 Companies
in the Global Steel industry.

( Industry Median: 0.90 vs. AKS: -55.50 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
AKS' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -87.3  Med: -26.1 Max: 136.6
Current: -55.5
-87.3
136.6
GuruFocus has detected 4 Warning Signs with AK Steel Holding Corp $AKS.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» AKS's 30-Y Financials

Financials (Next Earnings Date: 2017-07-26 Est.)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q2 2016

AKS Guru Trades in Q2 2016

Paul Tudor Jones 200,486 sh (New)
Caxton Associates 2,135,640 sh (New)
Jim Simons 4,188,957 sh (+373.86%)
Chuck Royce 1,799,609 sh (-7.84%)
» More
Q3 2016

AKS Guru Trades in Q3 2016

Joel Greenblatt 16,124 sh (New)
Steven Cohen 1,323,800 sh (New)
Caxton Associates Sold Out
Chuck Royce 1,667,109 sh (-7.36%)
Paul Tudor Jones 78,724 sh (-60.73%)
Jim Simons 1,494,599 sh (-64.32%)
» More
Q4 2016

AKS Guru Trades in Q4 2016

Jim Simons 3,750,800 sh (+150.96%)
Steven Cohen 1,587,544 sh (+19.92%)
Ronald Muhlenkamp 57,000 sh (unchged)
Joel Greenblatt Sold Out
Chuck Royce 1,493,609 sh (-10.41%)
Paul Tudor Jones 28,400 sh (-63.92%)
» More
Q1 2017

AKS Guru Trades in Q1 2017

Caxton Associates 680,000 sh (New)
David Tepper 534,327 sh (New)
Paul Tudor Jones 40,143 sh (+41.35%)
Chuck Royce 1,688,609 sh (+13.06%)
Ronald Muhlenkamp 57,000 sh (unchged)
Jim Simons Sold Out
Steven Cohen 358,000 sh (-77.45%)
» More
» Details

Insider Trades

Latest Guru Trades with AKS

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Business Description

Industry: Steel » Steel    NAICS: 331110    SIC: 3312
Compare:AMEX:SIM, OTCPK:SMSMY, OTCPK:SZGPY, NYSE:CMC, OTCPK:TMKXY, OTCPK:USNZY, OTCPK:FEEXF, OTCPK:RUSMF, NYSE:MTL, NYSE:SID, OTCPK:CUGCF, OTCPK:LIFZF, OTCPK:AMSIY, NYSE:WOR, NAS:IIIN, NYSE:TMST, OTCPK:VLOWY, NAS:SCHN, OTCPK:CNMGF, NAS:HNH » details
Traded in other countries:AK2.Germany, AKS.Mexico,
Headquarter Location:USA
AK Steel Holding Corp through its subsidiary is engaged in producing flat-rolled carbon, stainless and electrical steels, and tubular products.

AK Steel's operations consist of steelmaking and finishing plants in Indiana, Kentucky, Michigan, Ohio, and Pennsylvania. The company manufactures flat-rolled, carbon, electrical, and stainless steel as well as tubular products for the automotive, construction, appliance, and machinery end markets. AK Steel also owns metallurgical coal reserves in the Northern Appalachian Coal Basin and a 49.9% stake in Magnetation, a joint venture based in northern Minnesota that produces iron ore concentrate and iron ore pellets.

Top Ranked Articles about AK Steel Holding Corp

AK Steel Announces Second Quarter 2016 Earnings Date

WEST CHESTER, OH--(Marketwired - Jun 21, 2016) - AK Steel (NYSE: AKS) said today that it plans to release its second quarter 2016 financial results before the opening of trading on the New York Stock Exchange on Tuesday, July 26, 2016. AK Steel will also provide live listening access on the Internet to its earnings conference call to be held at 11:00 a.m. Eastern Time on July 26, 2016. Access to the webcast will be available from the home page of the company's website at www.aksteel.com. The webcast will be archived on the company's website following the call until August 2, 2016 and will be accessible from the home page. AK Steel

AK Steel is a world leader in the production of flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 8,500 men and women at eight steel plants, two coke plants and two tube manufacturing plants across six states: Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia. Additional information about AK Steel is available at www.aksteel.com.


Contacts:

Media

Lisa H. Jester

Corporate Manager, Communications and Public Relations

(513) 425-2510


Investors

Douglas O. Mitterholzer

General Manager, Investor Relations

(513) 425-5215





Read more...
AK Steel Announces Price Increase for Specialty Sheet and Strip Stainless Steel

WEST CHESTER, OH--(Marketwired - Jun 21, 2016) - AK Steel (NYSE: AKS) said today that it will increase base prices for all specialty sheet and strip stainless steel products by 3%-6%, effective July 5, 2016. AK Steel

AK Steel is a world leader in the production of flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 8,500 men and women at eight steel plants, two coke plants and two tube manufacturing plants across six states: Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia. Additional information about AK Steel is available at www.aksteel.com.


Contacts:

Media

Lisa H. Jester

Corporate Manager, Communications and Public Relations

(513) 425-2510



Investors

Douglas O. Mitterholzer

General Manager, Investor Relations

(513) 425-5215





Read more...
AK Steel Announces Closing of $380 Million 7.50% Senior Secured Notes Due 2023 and Final Results of Cash Tender Offer for Its 8.750% Senior Secured Notes Due 2018

WEST CHESTER, OH--(Marketwired - Jun 20, 2016) - AK Steel Holding Corporation (NYSE: AKS) announced today the successful closing of the registered offering (the "Secured Notes Offering") by its subsidiary, AK Steel Corporation ("AK Steel"), of $380.0 million aggregate principal amount of 7.50% senior secured notes due 2023 (the "New Notes") and of the previously announced tender offer (the "Tender Offer") for AK Steel's 8.750% senior secured notes due 2018 (the "Old Notes"). The Tender Offer expired as of 5:00 p.m., New York City time, on June 17, 2016 (the "Expiration Time"). Holders validly tendered $251,443,000 in aggregate principal amount of the Old Notes prior to the Expiration Time at an aggregate purchase price equal to $1,047.50 per $1,000 principal amount of Old Notes tendered, plus accrued and unpaid interest. AK Steel has accepted for purchase all Old Notes that were validly tendered prior to the Expiration Time. Today AK Steel also issued a notice of redemption stating that it will redeem any and all of its outstanding Old Notes on July 20, 2016 (the "Redemption Date"), as described below. The joint book-running managers for the Secured Notes Offering were BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, Wells Fargo Securities, Citigroup, Credit Suisse and Goldman, Sachs & Co. The net proceeds of the Secured Notes Offering were approximately $353.1 million after deducting the underwriting discounts and commissions, estimated offering expenses payable by AK Steel and premium for the repurchase and redemption of the Old Notes. AK Steel will use the net proceeds from the Secured Notes Offering, together with cash on hand and/or borrowings under its revolving credit facility, to pay the consideration for its Tender Offer of Old Notes and to redeem all remaining outstanding Old Notes on the Redemption Date. On June 20, 2016, U.S. Bank National Association, on behalf of and at the direction of AK Steel, pursuant to the terms of the indenture governing the Old Notes, delivered notice to all holders of Old Notes calling for the redemption of any and all Old Notes that remain outstanding following the completion of the Tender Offer at a redemption price of 104.375% of the principal amount of the Old Notes, plus accrued and unpaid interest to, but not including, the Redemption Date. Such redemption is expected to occur on the Redemption Date.  AK Steel retained BofA Merrill Lynch to serve as the sole dealer manager for the Tender Offer. AK Steel also retained Global Bondholder Services Corporation to serve as the information agent and depositary. This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to the Old Notes or any other securities. The Tender Offer was made solely pursuant to the Offer to Purchase, dated June 13, 2016, and the related Letter of Transmittal, which set forth the complete terms of the Tender Offer. Forward-Looking Statements

Certain statements the company made or incorporated by reference in this release, or made in other documents furnished to or filed with the Securities Exchange Commission, as well as in press releases or in oral presentations made by company employees, reflect management's estimates and beliefs and are intended to be "forward-looking statements" identified in the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "believes," "intends," "plans," "estimates" and other similar references to future periods typically identify forward-looking statements. The company cautions readers that forward-looking statements reflect the company's current beliefs and judgments, but are not guarantees of future performance or outcomes. They are based on a number of assumptions and estimates that are inherently affected by economic, competitive, regulatory, and operational risks, uncertainties and contingencies that are beyond the company's control, and upon assumptions about future business decisions and conditions that may change. Forward-looking statements are only predictions and involve risks and uncertainties, resulting in the possibility that actual events or performance will differ materially from such predictions as a result of certain risk factors, including reduced selling prices, shipments and profits associated with a highly competitive and cyclical industry; increased global steel production and imports; changes in the cost of raw materials and energy; the company's significant amount of debt and other obligations; severe financial hardship or bankruptcy of one or more of the company's major customers or key suppliers; reduced demand in key product markets due to competition from aluminum or other alternatives to steel; excess inventory of raw materials; supply chain disruptions or poor quality of raw materials; production disruption or reduced production levels; the company's healthcare and pension obligations; not reaching new labor agreements on a timely basis; major litigation, arbitrations, environmental issues and other contingencies; regulatory compliance and changes; climate change and greenhouse gas emission limitations; financial, credit, capital and banking markets; derivative contracts to hedge commodity pricing volatility; potential permanent idling of facilities; inability to fully realize benefits of margin enhancement initiatives; information technology security threats and cybercrime; as well as those risks and uncertainties discussed in more detail in the company's Annual Report on Form 10-K for the year ended December 31, 2015 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, as updated in subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. As such, the company cautions readers not to place undue reliance on forward-looking statements, which speak only to the company's plans, assumptions and expectations as of the date hereof. The company undertakes no obligation to publicly update any forward-looking statement, except as required by law. About AK Steel

AK Steel is a world leader in the production of flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 8,500 men and women at eight steel plants, two coke plants and two tube manufacturing plants across six states: Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.


Contacts:

Media

Lisa H. Jester

Corporate Manager, Communications and Public Relations

(513) 425-2510


Investors

Douglas O. Mitterholzer

General Manager, Investor Relations

(513) 425-5215





Read more...
AK Steel Receives American Metal Market's "Best Operational Improvement" Award for Dearborn Works

WEST CHESTER, OH--(Marketwired - Jun 15, 2016) - AK Steel (NYSE: AKS) received the "Best Operational Improvement" award for its Dearborn Works from American Metal Market (AMM), a leading metal industry publication. The award recognizes the company for its dramatic improvements in safety, environment, quality and reliability following AK Steel's acquisition of the Dearborn, Michigan facility in September 2014. "It is an honor to receive this outstanding recognition from American Metal Market," said Roger K. Newport, Chief Executive Officer of AK Steel. "We are pleased to be recognized for our holistic integration plan to ensure AK Steel's established practices, procedures and reporting methods are being implemented at the facility. Our acquisition of and continued improvement at Dearborn Works has strengthened AK Steel as a premier North American steel manufacturer, and enhanced our ability to serve customers by ensuring our best practices are being applied across our operations." In addition to this award for "Best Operational Improvement," this year AK Steel was a finalist for AMM's "Best Product Innovation" award along with the NanoSteel Company for the joint development of Third Generation Advanced High-Strength Steel. That new-to-the-world product represents a leap in the combination of high strength and elongation, creating new opportunities for automotive lightweighting and design freedom. AK Steel was also a finalist in 2015 for the "Best Mergers and Acquisitions" award from AMM for the company's successful September 2014 acquisition of Dearborn Works in Dearborn, Michigan, and "Best Product Innovation" award for the introduction of its CHROMESHIELD® 22 to the marketplace, a breakthrough nickel-free stainless steel product. AK Steel

AK Steel is a world leader in the production of flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 8,500 men and women at eight steel plants, two coke plants and two tube manufacturing plants across six states: Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia. Additional information about AK Steel is available at www.aksteel.com.


Contacts:

Media

Lisa H. Jester

Corporate Manager, Communications and Public Relations

(513) 425-2510


Investors

Douglas O. Mitterholzer

General Manager, Investor Relations

(513) 425-5215





Read more...
AK Steel Announces Pricing of $380 Million of Senior Secured Notes Due 2023

WEST CHESTER, OH--(Marketwired - Jun 13, 2016) - AK Steel Holding Corporation (NYSE: AKS) ("AK Holding") announced today that its subsidiary, AK Steel Corporation ("AK Steel"), has successfully priced its public offering (the "Offering") of $380.0 million aggregate principal amount of 7.50% senior secured notes due 2023 (the "Secured Notes"). AK Steel will pay interest on the Secured Notes semi-annually on January 15 and July 15 of each year. Interest on the newly issued Secured Notes will accrue from June 20, 2016. The Secured Notes will mature on July 15, 2023. The Secured Notes will be fully and unconditionally guaranteed by AK Holding, AK Steel's direct parent, and by AK Tube LLC and AK Steel Properties, Inc. (together with AK Tube LLC, the "Subsidiary Guarantors"), two wholly-owned subsidiaries of AK Steel. The Secured Notes will be secured by first priority liens on the plant, property and equipment (other than certain excluded property, and subject to permitted liens) of AK Steel and the Subsidiary Guarantors and any proceeds of the foregoing. AK Steel intends to use the net proceeds of the Offering, together with cash on hand and/or borrowings under its revolving credit facility, to finance AK Steel's previously announced cash tender offer for any and all of AK Steel's outstanding 8.750% Senior Secured Notes due 2018 ("Old Notes"). If any Old Notes remain outstanding following the completion of the cash tender offer, AK Steel intends to promptly redeem such Old Notes in accordance with the terms of the Old Notes and the applicable indenture. The Offering is being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the "SEC") and is expected to close on June 20, 2016, subject to customary closing conditions. The joint book-running managers for the Offering are BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, Wells Fargo Securities, Citigroup, Credit Suisse and Goldman, Sachs & Co. AK Holding, along with certain of its subsidiaries, has filed a registration statement (including a prospectus) with the SEC relating to the Offering. Before you invest, you should read the prospectus supplement and accompanying prospectus in that registration statement and other documents AK Holding and AK Steel have filed with the SEC for more complete information about AK Holding, AK Steel and the Offering. You may review electronic copies of these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, AK Holding, AK Steel, any underwriter or any dealer participating in the Offering will arrange to send you the prospectus supplement and accompanying base prospectus if you request it by contacting BofA Merrill Lynch at Attention: Prospectus Department, One Bryant Park, New York, NY, 10036 (1-800-294-1322 or [email protected]); Deutsche Bank Securities at Attention: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, email: [email protected], telephone (800) 503-4611; J.P. Morgan at Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204; Wells Fargo at Attention: Client Support, 608 2nd Avenue, South Minneapolis, MN 55402, telephone: (800) 645-3751 Opt 5, or email: [email protected]; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (800) 831-9146; Credit Suisse at Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: 1-800-221-1037, or email: [email protected]; or Goldman Sachs & Co. at Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or email [email protected]. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the Secured Notes in the Offering, nor shall there be any sale of such Secured Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Forward-Looking Statements

Certain statements the company made or incorporated by reference in this release, or made in other documents furnished to or filed with the Securities Exchange Commission, as well as in press releases or in oral presentations made by company employees, reflect management's estimates and beliefs and are intended to be "forward-looking statements" identified in the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "believes," "intends," "plans," "estimates" and other similar references to future periods typically identify forward-looking statements. The company cautions readers that forward-looking statements reflect the company's current beliefs and judgments, but are not guarantees of future performance or outcomes. They are based on a number of assumptions and estimates that are inherently affected by economic, competitive, regulatory, and operational risks, uncertainties and contingencies that are beyond the company's control, and upon assumptions about future business decisions and conditions that may change.  Forward-looking statements are only predictions and involve risks and uncertainties, resulting in the possibility that actual events or performance will differ materially from such predictions as a result of certain risk factors, including reduced selling prices, shipments and profits associated with a highly competitive and cyclical industry; increased global steel production and imports; changes in the cost of raw materials and energy; the company's significant amount of debt and other obligations; severe financial hardship or bankruptcy of one or more of the company's major customers or key suppliers; reduced demand in key product markets due to competition from aluminum or other alternatives to steel; excess inventory of raw materials; supply chain disruptions or poor quality of raw materials; production disruption or reduced production levels; the company's healthcare and pension obligations; not reaching new labor agreements on a timely basis; major litigation, arbitrations, environmental issues and other contingencies; regulatory compliance and changes; climate change and greenhouse gas emission limitations; financial, credit, capital and banking markets; derivative contracts to hedge commodity pricing volatility; potential permanent idling of facilities; inability to fully realize benefits of margin enhancement initiatives; information technology security threats and cybercrime; as well as those risks and uncertainties discussed in more detail in the company's Annual Report on Form 10-K for the year ended December 31, 2015 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, as updated in subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. As such, the company cautions readers not to place undue reliance on forward-looking statements, which speak only to the company's plans, assumptions and expectations as of the date hereof. The company undertakes no obligation to publicly update any forward-looking statement, except as required by law. About AK Steel

AK Steel is a world leader in the production of flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 8,500 men and women at eight steel plants, two coke plants and two tube manufacturing plants across six states: Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.


Contacts:

Media

Lisa H. Jester

Corporate Manager, Communications and Public Relations

(513) 425-2510


Investors

Douglas O. Mitterholzer

General Manager, Investor Relations

(513) 425-5215





Read more...
AK Steel Announces Offering of $380 Million of Senior Secured Notes and Cash Tender Offer for Its 8.750% Senior Secured Notes Due 2018

WEST CHESTER, OH--(Marketwired - Jun 13, 2016) - AK Steel Holding Corporation (NYSE: AKS) ("AK Holding") announced today that its subsidiary, AK Steel Corporation ("AK Steel"), has commenced a registered offering (the "Offering") of $380.0 million aggregate principal amount of senior secured notes due 2023 (the "New Notes"). AK Steel intends to use the net proceeds of the offering, together with cash on hand and/or borrowings under its revolving credit facility, to finance AK Steel's cash tender offer (the "Tender Offer"), also announced today, for any and all of AK Steel's outstanding 8.750% Senior Secured Notes due 2018 (the "Old Notes"). The Offering will be made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission. The joint book-running managers for the Offering are BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, Wells Fargo Securities, Citigroup, Credit Suisse and Goldman, Sachs & Co. Simultaneously with the Offering, AK Steel has commenced the Tender Offer pursuant to an Offer to Purchase, dated June 13, 2016, and a related Letter of Transmittal. Upon the terms and subject to the conditions described in the Offer to Purchase and the Letter of Transmittal, AK Steel is offering to purchase for cash any and all of its outstanding Old Notes. Holders of Old Notes who validly tender their Old Notes on or prior to 5:00 p.m., New York City time, Friday, June 17, 2016 (the "Expiration Time"), will be eligible to receive the aggregate purchase price equal to $1,047.50 per $1,000 principal amount of Old Notes tendered.  Tendered Old Notes may be validly withdrawn on or prior to the Expiration Time (the "Withdrawal Deadline"). Following the Withdrawal Deadline, holders who have tendered their Old Notes may not withdraw such Old Notes unless AK Steel is required to extend withdrawal rights under applicable laws. AK Steel's obligation to accept for purchase and to pay for the Old Notes in the Tender Offer is subject to the satisfaction or waiver of a number of conditions, including the receipt of proceeds from the offering of the New Notes. In addition to the applicable consideration, all holders of Old Notes accepted for purchase will also receive accrued and unpaid interest on those Old Notes from the last interest payment date to, but not including, the date such Old Notes are repurchased. If any Old Notes remain outstanding following the completion of the Tender Offer, AK Steel intends to promptly redeem such Old Notes in accordance with the terms of the Old Notes and the applicable indenture. None of AK Steel, AK Steel's Board of Directors, the dealer manager, the depositary and the information agent makes any recommendation in connection with the Tender Offer. Holders must make their own decisions as to whether to tender their Old Notes, and, if so, the principal amount of Old Notes to tender. AK Steel has retained BofA Merrill Lynch to serve as the sole dealer manager for the Tender Offer. AK Steel has also retained Global Bondholder Services Corporation to serve as the information agent and depositary. For additional information regarding the terms of the Tender Offer, please contact BofA Merrill Lynch at (980) 388-3646 or toll free (888) 292-0070. Requests for documents and questions regarding the tender of Old Notes may be directed to Global Bondholder Services Corporation at (212) 430-3774 or toll free (866) 470-4500, by mail at 65 Broadway, Suite 404, New York, New York 10006, Attention: Corporation Actions, or by visiting www.gbsc-usa.com/AKSteel/. AK Holding, along with certain of its subsidiaries, has filed a registration statement (including a prospectus) with the SEC relating to the Offering. Before you invest, you should read the prospectus supplement and accompanying prospectus in that registration statement and other documents AK Holding and AK Steel have filed with the SEC for more complete information about AK Holding, AK Steel and the Offering. You may review electronic copies of these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, AK Holding, AK Steel, any underwriter or any dealer participating in the Offering will arrange to send you the prospectus supplement and accompanying base prospectus if you request it by contacting BofA Merrill Lynch at Attention: Prospectus Department, One Bryant Park, New York, NY, 10036 (1-800-294-1322 or [email protected]); Deutsche Bank Securities at Attention: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, email: [email protected], telephone (800) 503-4611; J.P. Morgan at Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204; Wells Fargo at Attention: Client Support, 608 2nd Avenue, South Minneapolis, MN 55402, telephone: (800) 645-3751 Opt 5, or email: [email protected]; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (800) 831-9146; Credit Suisse at Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: 1-800-221-1037, or email: [email protected]; or Goldman Sachs & Co. at Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or email [email protected]. Forward-Looking Statements

Certain statements the company made or incorporated by reference in this release, or made in other documents furnished to or filed with the Securities Exchange Commission, as well as in press releases or in oral presentations made by company employees, reflect management's estimates and beliefs and are intended to be "forward-looking statements" identified in the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "believes," "intends," "plans," "estimates" and other similar references to future periods typically identify forward-looking statements. The company cautions readers that forward-looking statements reflect the company's current beliefs and judgments, but are not guarantees of future performance or outcomes. They are based on a number of assumptions and estimates that are inherently affected by economic, competitive, regulatory, and operational risks, uncertainties and contingencies that are beyond the company's control, and upon assumptions about future business decisions and conditions that may change. Forward-looking statements are only predictions and involve risks and uncertainties, resulting in the possibility that actual events or performance will differ materially from such predictions as a result of certain risk factors, including reduced selling prices, shipments and profits associated with a highly competitive and cyclical industry; increased global steel production and imports; changes in the cost of raw materials and energy; the company's significant amount of debt and other obligations; severe financial hardship or bankruptcy of one or more of the company's major customers or key suppliers; reduced demand in key product markets due to competition from aluminum or other alternatives to steel; excess inventory of raw materials; supply chain disruptions or poor quality of raw materials; production disruption or reduced production levels; the company's healthcare and pension obligations; not reaching new labor agreements on a timely basis; major litigation, arbitrations, environmental issues and other contingencies; regulatory compliance and changes; climate change and greenhouse gas emission limitations; financial, credit, capital and banking markets; derivative contracts to hedge commodity pricing volatility; potential permanent idling of facilities; inability to fully realize benefits of margin enhancement initiatives; information technology security threats and cybercrime; as well as those risks and uncertainties discussed in more detail in the company's Annual Report on Form 10-K for the year ended December 31, 2015 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, as updated in subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. As such, the company cautions readers not to place undue reliance on forward-looking statements, which speak only to the company's plans, assumptions and expectations as of the date hereof. The company undertakes no obligation to publicly update any forward-looking statement, except as required by law. About AK Steel

AK Steel is a world leader in the production of flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 8,500 men and women at eight steel plants, two coke plants and two tube manufacturing plants across six states: Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.


Contacts:

Media

Lisa H. Jester

Corporate Manager

Communications and Public Relations

(513) 425-2510



Investors

Douglas O. Mitterholzer

General Manager, Investor Relations

(513) 425-5215





Read more...

Ratios

vs
industry
vs
history
PE Ratio 31.85
AKS's PE Ratio is ranked lower than
99.99% of the 363 Companies
in the Global Steel industry.

( Industry Median: 15.53 vs. AKS: 31.85 )
Ranked among companies with meaningful PE Ratio only.
AKS' s PE Ratio Range Over the Past 10 Years
Min: 1.29  Med: 29.73 Max: 1913.85
Current: 31.85
1.29
1913.85
Forward PE Ratio 12.45
AKS's Forward PE Ratio is ranked lower than
85% of the 97 Companies
in the Global Steel industry.

( Industry Median: 14.47 vs. AKS: 12.45 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 31.85
AKS's PE Ratio without NRI is ranked lower than
99.99% of the 360 Companies
in the Global Steel industry.

( Industry Median: 15.67 vs. AKS: 31.85 )
Ranked among companies with meaningful PE Ratio without NRI only.
AKS' s PE Ratio without NRI Range Over the Past 10 Years
Min: 1.29  Med: 29.73 Max: 1244
Current: 31.85
1.29
1244
Price-to-Owner-Earnings 20.30
AKS's Price-to-Owner-Earnings is ranked lower than
75% of the 216 Companies
in the Global Steel industry.

( Industry Median: 12.17 vs. AKS: 20.30 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
AKS' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 0.86  Med: 11.43 Max: 307.5
Current: 20.3
0.86
307.5
PS Ratio 0.27
AKS's PS Ratio is ranked higher than
78% of the 536 Companies
in the Global Steel industry.

( Industry Median: 0.54 vs. AKS: 0.27 )
Ranked among companies with meaningful PS Ratio only.
AKS' s PS Ratio Range Over the Past 10 Years
Min: 0.05  Med: 0.2 Max: 1.13
Current: 0.27
0.05
1.13
Price-to-Free-Cash-Flow 7.03
AKS's Price-to-Free-Cash-Flow is ranked higher than
72% of the 195 Companies
in the Global Steel industry.

( Industry Median: 8.45 vs. AKS: 7.03 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
AKS' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 1.57  Med: 8.99 Max: 1625.2
Current: 7.03
1.57
1625.2
Price-to-Operating-Cash-Flow 7.03
AKS's Price-to-Operating-Cash-Flow is ranked higher than
67% of the 247 Companies
in the Global Steel industry.

( Industry Median: 6.94 vs. AKS: 7.03 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
AKS' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 1.5  Med: 8.28 Max: 47.9
Current: 7.03
1.5
47.9
EV-to-EBIT 13.92
AKS's EV-to-EBIT is ranked lower than
61% of the 537 Companies
in the Global Steel industry.

( Industry Median: 14.04 vs. AKS: 13.92 )
Ranked among companies with meaningful EV-to-EBIT only.
AKS' s EV-to-EBIT Range Over the Past 10 Years
Min: -48.3  Med: 9.1 Max: 67.6
Current: 13.92
-48.3
67.6
EV-to-EBITDA 7.55
AKS's EV-to-EBITDA is ranked higher than
54% of the 582 Companies
in the Global Steel industry.

( Industry Median: 11.07 vs. AKS: 7.55 )
Ranked among companies with meaningful EV-to-EBITDA only.
AKS' s EV-to-EBITDA Range Over the Past 10 Years
Min: -317.3  Med: 9.6 Max: 115.5
Current: 7.55
-317.3
115.5
Current Ratio 1.85
AKS's Current Ratio is ranked higher than
69% of the 442 Companies
in the Global Steel industry.

( Industry Median: 1.51 vs. AKS: 1.85 )
Ranked among companies with meaningful Current Ratio only.
AKS' s Current Ratio Range Over the Past 10 Years
Min: 1.1  Med: 1.85 Max: 3.79
Current: 1.85
1.1
3.79
Quick Ratio 0.79
AKS's Quick Ratio is ranked lower than
59% of the 442 Companies
in the Global Steel industry.

( Industry Median: 0.99 vs. AKS: 0.79 )
Ranked among companies with meaningful Quick Ratio only.
AKS' s Quick Ratio Range Over the Past 10 Years
Min: 0.53  Med: 0.96 Max: 2.79
Current: 0.79
0.53
2.79
Days Inventory 78.03
AKS's Days Inventory is ranked higher than
50% of the 507 Companies
in the Global Steel industry.

( Industry Median: 78.80 vs. AKS: 78.03 )
Ranked among companies with meaningful Days Inventory only.
AKS' s Days Inventory Range Over the Past 10 Years
Min: 26.22  Med: 44.56 Max: 84.33
Current: 78.03
26.22
84.33
Days Sales Outstanding 32.46
AKS's Days Sales Outstanding is ranked higher than
78% of the 433 Companies
in the Global Steel industry.

( Industry Median: 59.28 vs. AKS: 32.46 )
Ranked among companies with meaningful Days Sales Outstanding only.
AKS' s Days Sales Outstanding Range Over the Past 10 Years
Min: 22.44  Med: 30.69 Max: 41.46
Current: 32.46
22.44
41.46
Days Payable 47.46
AKS's Days Payable is ranked lower than
54% of the 402 Companies
in the Global Steel industry.

( Industry Median: 48.06 vs. AKS: 47.46 )
Ranked among companies with meaningful Days Payable only.
AKS' s Days Payable Range Over the Past 10 Years
Min: 19.57  Med: 39.39 Max: 48.79
Current: 47.46
19.57
48.79

Buy Back

vs
industry
vs
history
5-Year Yield-on-Cost % 0.65
AKS's 5-Year Yield-on-Cost % is ranked lower than
83% of the 611 Companies
in the Global Steel industry.

( Industry Median: 2.08 vs. AKS: 0.65 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
AKS' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.04  Med: 0.72 Max: 2.11
Current: 0.65
0.04
2.11
3-Year Average Share Buyback Ratio -32.10
AKS's 3-Year Average Share Buyback Ratio is ranked lower than
93% of the 227 Companies
in the Global Steel industry.

( Industry Median: -1.70 vs. AKS: -32.10 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
AKS' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -32.1  Med: -2.65 Max: 0.8
Current: -32.1
-32.1
0.8

Valuation & Return

vs
industry
vs
history
Price-to-Median-PS-Value 1.37
AKS's Price-to-Median-PS-Value is ranked lower than
53% of the 495 Companies
in the Global Steel industry.

( Industry Median: 1.33 vs. AKS: 1.37 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
AKS' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.28  Med: 1.33 Max: 5.34
Current: 1.37
0.28
5.34
Earnings Yield (Greenblatt) % 7.18
AKS's Earnings Yield (Greenblatt) % is ranked higher than
53% of the 694 Companies
in the Global Steel industry.

( Industry Median: 4.90 vs. AKS: 7.18 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
AKS' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 1.5  Med: 4.7 Max: 97.9
Current: 7.18
1.5
97.9
Forward Rate of Return (Yacktman) % -32.41
AKS's Forward Rate of Return (Yacktman) % is ranked lower than
99.99% of the 289 Companies
in the Global Steel industry.

( Industry Median: -1.52 vs. AKS: -32.41 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
AKS' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -57.6  Med: 0.5 Max: 14.8
Current: -32.41
-57.6
14.8

More Statistics

Revenue (TTM) (Mil) $5,897
EPS (TTM) $ 0.19
Beta3.58
Short Percentage of Float20.58%
52-Week Range $3.54 - 11.39
Shares Outstanding (Mil)314.83

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 5,985 5,933 6,311
EPS ($) 0.47 0.43 1.05
EPS without NRI ($) 0.47 0.43 1.05
EPS Growth Rate
(Future 3Y To 5Y Estimate)
-203.95%
Dividends per Share ($)
» More Articles for AKS

Headlines

Articles On GuruFocus.com
3 Top Stocks to Play in New Presidency Nov 23 2016 
AK Steel Announces Third Quarter 2016 Earnings Date Sep 20 2016 
AK Steel Announces Second Quarter 2016 Earnings Date Jun 21 2016 
AK Steel Announces Price Increase for Specialty Sheet and Strip Stainless Steel Jun 21 2016 
AK Steel Announces Closing of $380 Million 7.50% Senior Secured Notes Due 2023 and Final Results of Jun 20 2016 
AK Steel Receives American Metal Market's "Best Operational Improvement" Award for Dearborn Works Jun 15 2016 
AK Steel Announces Pricing of $380 Million of Senior Secured Notes Due 2023 Jun 13 2016 
AK Steel Announces Offering of $380 Million of Senior Secured Notes and Cash Tender Offer for Its 8. Jun 13 2016 
AK Steel's Coshocton Works Recognized for Outstanding Safety Performance May 23 2016 
AK Steel and NanoSteel Honored With "Breakthrough Solution of the Year" by Platts Global Metals Awar May 20 2016 

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