ARCELORMITTAL (MT.AS) Fundamental Analysis & Valuation

AMS:MT • LU1598757687

Current stock price

45.66 EUR
-1 (-2.14%)
Last:

This MT.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. MT.AS Profitability Analysis

1.1 Basic Checks

  • MT had positive earnings in the past year.
  • In the past year MT had a positive cash flow from operations.
  • In the past 5 years MT has always been profitable.
  • In the past 5 years MT always reported a positive cash flow from operatings.
MT.AS Yearly Net Income VS EBIT VS OCF VS FCFMT.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B

1.2 Ratios

  • With a Return On Assets value of 3.23%, MT perfoms like the industry average, outperforming 55.26% of the companies in the same industry.
  • The Return On Equity of MT (5.79%) is comparable to the rest of the industry.
  • Looking at the Return On Invested Capital, with a value of 2.42%, MT is in line with its industry, outperforming 44.74% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for MT is significantly below the industry average of 8.68%.
Industry RankSector Rank
ROA 3.23%
ROE 5.79%
ROIC 2.42%
ROA(3y)1.9%
ROA(5y)6.41%
ROE(3y)3.4%
ROE(5y)11.63%
ROIC(3y)3.52%
ROIC(5y)7.66%
MT.AS Yearly ROA, ROE, ROICMT.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30

1.3 Margins

  • With a decent Profit Margin value of 5.14%, MT is doing good in the industry, outperforming 63.16% of the companies in the same industry.
  • MT's Profit Margin has declined in the last couple of years.
  • MT has a Operating Margin (4.32%) which is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of MT has grown nicely.
  • Looking at the Gross Margin, with a value of 8.33%, MT is doing worse than 76.32% of the companies in the same industry.
  • MT's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 4.32%
PM (TTM) 5.14%
GM 8.33%
OM growth 3Y-33.9%
OM growth 5Y33.31%
PM growth 3Y-23.88%
PM growth 5YN/A
GM growth 3Y-21.13%
GM growth 5Y11.82%
MT.AS Yearly Profit, Operating, Gross MarginsMT.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 10 15 20

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3

2. MT.AS Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MT is destroying value.
  • MT has less shares outstanding than it did 1 year ago.
  • MT has less shares outstanding than it did 5 years ago.
  • MT has a worse debt/assets ratio than last year.
MT.AS Yearly Shares OutstandingMT.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
MT.AS Yearly Total Debt VS Total AssetsMT.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B

2.2 Solvency

  • MT has an Altman-Z score of 1.80. This is a bad value and indicates that MT is not financially healthy and even has some risk of bankruptcy.
  • With a Altman-Z score value of 1.80, MT is not doing good in the industry: 63.16% of the companies in the same industry are doing better.
  • The Debt to FCF ratio of MT is 28.65, which is on the high side as it means it would take MT, 28.65 years of fcf income to pay off all of its debts.
  • MT has a Debt to FCF ratio of 28.65. This is comparable to the rest of the industry: MT outperforms 47.37% of its industry peers.
  • A Debt/Equity ratio of 0.20 indicates that MT is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.20, MT is in the better half of the industry, outperforming 60.53% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 28.65
Altman-Z 1.8
ROIC/WACC0.25
WACC9.59%
MT.AS Yearly LT Debt VS Equity VS FCFMT.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.3 Liquidity

  • A Current Ratio of 1.36 indicates that MT should not have too much problems paying its short term obligations.
  • MT has a Current ratio of 1.36. This is in the lower half of the industry: MT underperforms 78.95% of its industry peers.
  • A Quick Ratio of 0.53 indicates that MT may have some problems paying its short term obligations.
  • The Quick ratio of MT (0.53) is worse than 84.21% of its industry peers.
Industry RankSector Rank
Current Ratio 1.36
Quick Ratio 0.53
MT.AS Yearly Current Assets VS Current LiabilitesMT.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

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5

3. MT.AS Growth Analysis

3.1 Past

  • MT shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 30.61%, which is quite impressive.
  • MT shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -29.57% yearly.
  • Looking at the last year, MT shows a decrease in Revenue. The Revenue has decreased by -1.74% in the last year.
  • MT shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.87% yearly.
EPS 1Y (TTM)30.61%
EPS 3Y-29.57%
EPS 5YN/A
EPS Q2Q%65.38%
Revenue 1Y (TTM)-1.74%
Revenue growth 3Y-8.41%
Revenue growth 5Y2.87%
Sales Q2Q%1.75%

3.2 Future

  • The Earnings Per Share is expected to grow by 21.18% on average over the next years. This is a very strong growth
  • The Revenue is expected to grow by 3.66% on average over the next years.
EPS Next Y39.91%
EPS Next 2Y32.05%
EPS Next 3Y21.19%
EPS Next 5YN/A
Revenue Next Year8.32%
Revenue Next 2Y6.57%
Revenue Next 3Y4.29%
Revenue Next 5Y3.66%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
MT.AS Yearly Revenue VS EstimatesMT.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 20B 40B 60B 80B
MT.AS Yearly EPS VS EstimatesMT.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 5 10

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6

4. MT.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 13.71, MT is valued correctly.
  • Based on the Price/Earnings ratio, MT is valued cheaper than 84.21% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 25.60, MT is valued a bit cheaper.
  • With a Price/Forward Earnings ratio of 9.79, the valuation of MT can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, MT is valued cheaper than 81.58% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of MT to the average of the S&P500 Index (22.84), we can say MT is valued rather cheaply.
Industry RankSector Rank
PE 13.71
Fwd PE 9.79
MT.AS Price Earnings VS Forward Price EarningsMT.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • MT's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. MT is cheaper than 73.68% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as MT.
Industry RankSector Rank
P/FCF 87.14
EV/EBITDA 8.71
MT.AS Per share dataMT.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • MT's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as MT's earnings are expected to grow with 21.18% in the coming years.
PEG (NY)0.34
PEG (5Y)N/A
EPS Next 2Y32.05%
EPS Next 3Y21.19%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. MT.AS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.14%, MT has a reasonable but not impressive dividend return.
  • MT's Dividend Yield is a higher than the industry average which is at 1.79.
  • MT's Dividend Yield is slightly below the S&P500 average, which is at 1.88.
Industry RankSector Rank
Dividend Yield 1.14%

5.2 History

  • On average, the dividend of MT grows each year by 22.39%, which is quite nice.
Dividend Growth(5Y)22.39%
Div Incr Years0
Div Non Decr Years0
MT.AS Yearly Dividends per shareMT.AS Yearly Dividends per shareYearly Dividends per share 2021 2024 0.05 0.1 0.15 0.2

5.3 Sustainability

  • 13.36% of the earnings are spent on dividend by MT. This is a low number and sustainable payout ratio.
  • The dividend of MT is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP13.36%
EPS Next 2Y32.05%
EPS Next 3Y21.19%
MT.AS Yearly Income VS Free CF VS DividendMT.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B
MT.AS Dividend Payout.MT.AS Dividend Payout, showing the Payout Ratio.MT.AS Dividend Payout.PayoutRetained Earnings

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MT.AS Fundamentals: All Metrics, Ratios and Statistics

ARCELORMITTAL

AMS:MT (4/2/2026, 7:00:00 PM)

45.66

-1 (-2.14%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-05
Earnings (Next)04-30
Inst Owners25.38%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap35.39B
Revenue(TTM)61.35B
Net Income(TTM)3.15B
Analysts80
Price Target52.92 (15.9%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.14%
Yearly Dividend0.48
Dividend Growth(5Y)22.39%
DP13.36%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)19.07%
Min EPS beat(2)-14.82%
Max EPS beat(2)52.97%
EPS beat(4)2
Avg EPS beat(4)18.13%
Min EPS beat(4)-14.82%
Max EPS beat(4)52.97%
EPS beat(8)4
Avg EPS beat(8)8.11%
EPS beat(12)8
Avg EPS beat(12)27.48%
EPS beat(16)11
Avg EPS beat(16)41.51%
Revenue beat(2)0
Avg Revenue beat(2)-4.24%
Min Revenue beat(2)-6.52%
Max Revenue beat(2)-1.96%
Revenue beat(4)0
Avg Revenue beat(4)-3.57%
Min Revenue beat(4)-6.52%
Max Revenue beat(4)-0.12%
Revenue beat(8)0
Avg Revenue beat(8)-3.68%
Revenue beat(12)1
Avg Revenue beat(12)-3.16%
Revenue beat(16)4
Avg Revenue beat(16)-1.24%
PT rev (1m)4.31%
PT rev (3m)43.82%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-16.76%
EPS NY rev (1m)6.42%
EPS NY rev (3m)7.57%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.21%
Revenue NY rev (1m)-0.15%
Revenue NY rev (3m)0.95%
Valuation
Industry RankSector Rank
PE 13.71
Fwd PE 9.79
P/S 0.66
P/FCF 87.14
P/OCF 8.49
P/B 0.75
P/tB 0.83
EV/EBITDA 8.71
EPS(TTM)3.33
EY7.29%
EPS(NY)4.66
Fwd EY10.21%
FCF(TTM)0.52
FCFY1.15%
OCF(TTM)5.38
OCFY11.78%
SpS68.69
BVpS60.98
TBVpS55.1
PEG (NY)0.34
PEG (5Y)N/A
Graham Number67.59
Profitability
Industry RankSector Rank
ROA 3.23%
ROE 5.79%
ROCE 3.52%
ROIC 2.42%
ROICexc 2.61%
ROICexgc 2.82%
OM 4.32%
PM (TTM) 5.14%
GM 8.33%
FCFM 0.76%
ROA(3y)1.9%
ROA(5y)6.41%
ROE(3y)3.4%
ROE(5y)11.63%
ROIC(3y)3.52%
ROIC(5y)7.66%
ROICexc(3y)3.89%
ROICexc(5y)8.42%
ROICexgc(3y)4.21%
ROICexgc(5y)9.08%
ROCE(3y)5.16%
ROCE(5y)11.28%
ROICexgc growth 3Y-41.59%
ROICexgc growth 5Y30.43%
ROICexc growth 3Y-41.53%
ROICexc growth 5Y30.54%
OM growth 3Y-33.9%
OM growth 5Y33.31%
PM growth 3Y-23.88%
PM growth 5YN/A
GM growth 3Y-21.13%
GM growth 5Y11.82%
F-Score6
Asset Turnover0.63
Health
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 28.65
Debt/EBITDA 1.91
Cap/Depr 147.27%
Cap/Sales 7.07%
Interest Coverage 3.2
Cash Conversion 85.88%
Profit Quality 14.85%
Current Ratio 1.36
Quick Ratio 0.53
Altman-Z 1.8
F-Score6
WACC9.59%
ROIC/WACC0.25
Cap/Depr(3y)160.05%
Cap/Depr(5y)146.76%
Cap/Sales(3y)6.96%
Cap/Sales(5y)5.83%
Profit Quality(3y)126.05%
Profit Quality(5y)99.34%
High Growth Momentum
Growth
EPS 1Y (TTM)30.61%
EPS 3Y-29.57%
EPS 5YN/A
EPS Q2Q%65.38%
EPS Next Y39.91%
EPS Next 2Y32.05%
EPS Next 3Y21.19%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.74%
Revenue growth 3Y-8.41%
Revenue growth 5Y2.87%
Sales Q2Q%1.75%
Revenue Next Year8.32%
Revenue Next 2Y6.57%
Revenue Next 3Y4.29%
Revenue Next 5Y3.66%
EBIT growth 1Y-27.24%
EBIT growth 3Y-39.46%
EBIT growth 5Y37.13%
EBIT Next Year129.48%
EBIT Next 3Y39.77%
EBIT Next 5Y20.64%
FCF growth 1Y4.7%
FCF growth 3Y-58.89%
FCF growth 5Y-22.18%
OCF growth 1Y-0.97%
OCF growth 3Y-22.2%
OCF growth 5Y3.33%

ARCELORMITTAL / MT.AS Fundamental Analysis FAQ

What is the fundamental rating for MT stock?

ChartMill assigns a fundamental rating of 5 / 10 to MT.AS.


What is the valuation status for MT stock?

ChartMill assigns a valuation rating of 6 / 10 to ARCELORMITTAL (MT.AS). This can be considered as Fairly Valued.


Can you provide the profitability details for ARCELORMITTAL?

ARCELORMITTAL (MT.AS) has a profitability rating of 5 / 10.


Can you provide the financial health for MT stock?

The financial health rating of ARCELORMITTAL (MT.AS) is 3 / 10.


Can you provide the dividend sustainability for MT stock?

The dividend rating of ARCELORMITTAL (MT.AS) is 4 / 10 and the dividend payout ratio is 13.36%.