EAF
GrafTech International Ltd.

GrafTech International Ltd.EAF

Industrials · Electrical Equipment & Parts
9.41USD
-11.48%
Nov 06, 2026
EAF overview ready
Graphite Electrode Supplier to Electric Arc Furnace Steel Producers
GrafTech is a vertically integrated producer of ultra-high-power graphite electrodes and petroleum needle coke.
Theme not measured
Steel & Steel Inputs has no leadership state this session.
Constructive pullback in an uptrend
Longer-term context reads early recovery, with a near-term setup of constructive pullback.
Fair valuation
The price broadly reflects how its multiples compare with businesses of the same kind, with upside and risk reasonably balanced.
Solid fundamentals
Ev / sales is strong.
Primary risk
Steel industry demand volatility.
Market Nov 5Filing Sep 30Price action Nov 5Research Oct 23

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction8.6BusinessPerformance2.0BusinessQuality2.3Valuation5.5ThemeMomentum—Weakening — Revenue fell 3% year over year in the latest quarter. The company is still loss-making: the diluted loss per share widened to -$1.76 from -$1.10 a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Steel & Steel Inputs — Steel & Steel Inputs has only one or two priced members — no leadership state
Its economic family, Materials & Mining, reads Lagging (−18.6pp vs SPY) — the family’s reading, not this theme’s.
Price
Loading price history…

Price Action

Constructive pullback in an uptrend
Longer-term context reads early recovery, with a near-term setup of constructive pullback.
EntryReset + recovery

The stock is still rebuilding below its long-term weekly base, and the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$285.9M
Avg Volume (60D)
689.6K
60 sessions
Revenue Growth YoY
-6.4%
FY2025 vs FY2024
Gross Margin
-6.7%
Trailing twelve months
Operating Margin
-21.0%
Trailing twelve months
Free Cash Flow Yield
-55.3%
Distance from 200DMA
+13.9%
P/E
N/M
EV / Sales
2.7x
Market metrics as of Nov 4, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Weakening

Revenue fell 3% year over year in the latest quarter. The company is still loss-making: the diluted loss per share widened to -$1.76 from -$1.10 a year earlier.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthDeclining
-2.7%
$140M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. -13%
  2. +12%
  3. -3.4%
  4. -2.7%
Earnings growthLoss widening
-$1.76
Diluted EPS -$1.76 vs -$1.10 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginContracting
-16.2%
-12.6 pp YoY · gross margin 4.0% (-3.1 pp)
The business is consuming cash

Business Quality

2.3 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say fair; intrinsic is the dissenting view.
GrafTech International Ltd. has a Fair valuation stance because the price broadly reflects how its multiples compare with businesses of the same kind, with upside and risk reasonably balanced.

Company Research

Thesis
GrafTech is a vertically integrated producer of ultra-high-power graphite electrodes and petroleum needle coke. Its electrodes are consumables that conduct the electric arc used to melt scrap and other metallic feedstocks in EAF steelmaking; it also provides furnace-productivity services.
Opportunity
Moderate opportunity
Steelmakers' migration toward scrap- and direct-reduced-iron-based electric arc furnace production increases demand for indispensable furnace consumables and productivity technologies.
Key risk
Steel industry demand volatility.

Economic classification

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Business & Markets

Industrials · Electrical Equipment & Parts
What they do

GrafTech International Ltd. manufactures graphite electrode products and petroleum needle coke worldwide, serving steel and metal producers through direct and indirect sales channels.

How it earns

Transactional sales of graphite electrodes and petroleum needle coke products to industrial metal producers.

Products & services
Graphite electrode products
Petroleum needle coke products
Customers & end markets
Steel producers
Ferrous metal producers
Non-ferrous metal producers
Market position

A specialized supplier in the graphite electrode market serving industrial metal producers.

Demand drivers
High cyclicality

Demand is closely tied to the cyclical steel and metal production industries.