ArcelorMittal S.A.

€54.82As of Sun 8 Nov 2026, 12:00 UTC

AMS:MTMaterials

Country Netherlands

PE (Fwd) •••

TSR 10Y CAGR 12.56%

Div yield 0.94%

ROE 1.83%

Steel

Beta (5Y) 1.71

PE TTM 45.58

TSR TTM 67.59%

Mkt cap €41.34B

ROIC 2.15%

SE Grade™

—

Value

Quality

Moat

Consensus

Reference

€67

22.60%

(61.30%)

Hold 9|9|9|12|1

TTM

FYE 31 Dec USD

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

12.78

Revenue$B

15.40

15.24

15.22

15.20

15.25

15.28

15.67

16.15

16.41

16.24

14.08

1.27%

0.84%

7.60

Revenue growth%

13.52

16.43

16.01

16.62

14.83

15.85

15.83

16.77

17.96

17.91

15.85

15.93

13.09

Gross margin%

24.22

23.56

22.20

19.69

19.99

17.58

14.97

17.86

18.47

17.19

17.57

17.58

19.08

26.60

Operating margin%

23.28

22.64

19.95

22.84

21.03

19.30

17.74

15.26

15.39

16.72

27.46

16.72

19.63

20.27

Net margin%

15.21

14.34

16.55

19.00

16.33

15.58

13.26

12.95

11.57

10.43

9.47

12.95

14.77

26.35

P/E ratio (avg)x

18.02

19.37

20.59

21.15

23.35

25.43

23.74

23.62

26.08

28.21

29.11

25.43

23.49

26.13

EV/EBITx

15.39

16.70

18.31

19.01

18.37

19.27

20.12

22.38

22.39

22.38

35.69

22.38

19.14

20.35

FCF yield (avg)%

30.36

30.19

29.09

26.17

25.43

22.74

24.21

21.38

19.93

21.73

24.40

21.73

24.82

7.70

FCF margin%

22.97

20.57

21.64

20.19

22.60

25.23

24.92

24.53

25.06

23.88

16.52

24.92

23.43

1.077

FCF / Net incomex

0.286

0.282

0.327

0.377

0.420

0.426

0.469

0.523

0.573

0.671

1.542

0.523

0.423

22.28

ROIC%

8.28

8.46

10.88

11.55

9.29

8.04

9.61

10.15

10.43

9.88

14.87

9.88

9.75

10.16

Return on equity%

15.68

14.00

13.64

13.89

13.26

14.17

13.09

13.05

10.24

12.46

13.05

13.45

26.33

Return on assets%

1.92

2.21

1.18

0.91

0.40

0.99

3.89

1.30

23.82

0.99

1.09

5.44

EPS$

4.35

4.83

5.50

5.30

5.58

6.59

7.70

8.20

9.20

10.18

5.59

12.78%

9.91%

—

22.88

EPS growth%

9.35

12.32

15.13

16.68

14.32

15.35

15.86

17.34

16.35

14.84

21.94

15.86

15.24

4.92

Bookvalue per sh$

4.62

4.44

5.09

5.21

5.37

6.10

6.39

7.07

8.14

9.20

1.24

11.39%

8.10%

—

5.36

FCF per share$

5.86

6.53

6.19

6.77

6.39

7.10

7.63

8.00

7.65

7.15

5.36

2.28%

2.65%

—

6.84

Dividend per sh$

3.92

4.51

4.91

4.92

4.80

5.23

6.01

6.95

7.40

8.70

3.52

12.62%

9.59%

—

27.39

Div yield (avg)%

22.86

23.10

22.62

20.25

19.79

17.38

16.70

13.80

14.47

16.27

25.07

16.27

18.58

22.16

Payout ratio%

22.54

20.37

18.30

16.10

17.43

18.99

18.18

21.07

20.22

20.47

20.86

20.22

19.61

0.750

Shares (diluted)B

0.897

0.953

1.079

1.234

1.394

1.362

1.518

1.713

1.960

2.067

0.732

8.19%

8.64%

21.85

Buyback yield%

19.60

22.29

19.61

20.06

20.68

19.51

18.49

19.30

19.61

22.11

19.12

19.51

19.61

0.156

D/E ratiox

0.260

0.258

0.244

0.246

0.237

0.220

0.207

0.196

0.194

0.214

1.730

0.207

0.229

0.798

Enterprise value$B

13.31

14.79

15.84

18.30

18.22

20.14

21.86

25.66

30.85

30.34

13.89

10.73%

10.51%

2.617

LT debt$B

11.08

12.12

11.83

11.06

10.69

11.93

13.23

13.19

14.24

14.06

5.826

5.63%

3.10%

Peers (US$46.41B)

Cap (US$)

Ternium S.A.

9.650B

10.07x

Aperam S.A.

2.685B

15.56x

Nucor Corporation

55.58B

15.62x

JSW Steel Limited

35.32B

11.67x

Capital

TTM

10Y

Leveragex

0.295

(1.740)

(1.382)

EBIT/Intx

0.959

0.314

0.324

Own earn%

(18.72)

(46.47)

(34.70)

Sh yield%

49.24

35.19

39.35

Owners

Insiders/Inst%

12.41

20.49

Short interest%

2.72

SBC / revenue%

5.28

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

15–23

$1 testx

−0.1

Incr. ROIC%

−3

ArcelorMittal S.A. is an integrated steel and mining company active in Americas, Europe, Asia and Africa, offering flat and long products, pipes and tubes, iron ore and coking coal. It sells to automotive, appliance, engineering, construction, energy and machinery customers through a centralized marketing organization and distributors, and mines iron ore in Brazil, Bosnia, Liberia, Mexico, South Africa, Ukraine, India and Canada.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

$16.24B

0.84%

1.00×

Cost of revenue

$9.012B

1.03%

1.02×

Operating expenses

$2.084B

1.26%

1.04×