ARCELORMITTAL (MT.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:MT • LU1598757687

49.01 EUR
+1.47 (+3.09%)
Last: Feb 5, 2026, 07:00 PM
Fundamental Rating

4

MT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 44 industry peers in the Metals & Mining industry. While MT is still in line with the averages on profitability rating, there are concerns on its financial health. MT has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year MT was profitable.
  • MT had a positive operating cash flow in the past year.
  • Of the past 5 years MT 4 years were 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 0 5B 10B 15B

1.2 Ratios

  • MT's Return On Assets of 2.62% is in line compared to the rest of the industry. MT outperforms 45.45% of its industry peers.
  • MT has a Return On Equity of 4.73%. This is in the lower half of the industry: MT underperforms 61.36% of its industry peers.
  • MT has a Return On Invested Capital of 2.71%. This is in the lower half of the industry: MT underperforms 61.36% of its industry peers.
  • MT had an Average Return On Invested Capital over the past 3 years of 5.89%. This is in line with the industry average of 7.77%.
Industry RankSector Rank
ROA 2.62%
ROE 4.73%
ROIC 2.71%
ROA(3y)4.11%
ROA(5y)5.59%
ROE(3y)7.31%
ROE(5y)10.09%
ROIC(3y)5.89%
ROIC(5y)6.85%
MT.AS Yearly ROA, ROE, ROICMT.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30

1.3 Margins

  • Looking at the Profit Margin, with a value of 4.23%, MT is in line with its industry, outperforming 50.00% of the companies in the same industry.
  • In the last couple of years the Profit Margin of MT has declined.
  • MT has a Operating Margin (5.21%) which is in line with its industry peers.
  • MT's Operating Margin has improved in the last couple of years.
  • MT has a Gross Margin of 10.02%. This is amonst the worse of the industry: MT underperforms 84.09% of its industry peers.
  • MT's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 5.21%
PM (TTM) 4.23%
GM 10.02%
OM growth 3Y-35.65%
OM growth 5Y25.94%
PM growth 3Y-52.12%
PM growth 5YN/A
GM growth 3Y-26.65%
GM growth 5Y13.62%
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 0 5 10 15 20

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2

2. Health

2.1 Basic Checks

  • MT has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, MT has less shares outstanding
  • Compared to 5 years ago, MT has less shares outstanding
  • 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 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 20B 40B 60B 80B

2.2 Solvency

  • The Debt to FCF ratio of MT is 323.22, which is on the high side as it means it would take MT, 323.22 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 323.22, MT is doing worse than 61.36% of the companies in the same industry.
  • A Debt/Equity ratio of 0.19 indicates that MT is not too dependend on debt financing.
  • MT has a Debt to Equity ratio of 0.19. This is comparable to the rest of the industry: MT outperforms 56.82% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 323.22
Altman-Z N/A
ROIC/WACC0.31
WACC8.64%
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 10B 20B 30B 40B 50B

2.3 Liquidity

  • MT has a Current Ratio of 1.39. This is a normal value and indicates that MT is financially healthy and should not expect problems in meeting its short term obligations.
  • MT has a worse Current ratio (1.39) than 81.82% of its industry peers.
  • MT has a Quick Ratio of 1.39. This is a bad value and indicates that MT is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.58, MT is doing worse than 84.09% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.39
Quick Ratio 0.58
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 10B 20B 30B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • MT shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -2.78%.
  • MT shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -39.64% yearly.
  • MT shows a decrease in Revenue. In the last year, the revenue decreased by -1.90%.
  • MT shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -2.43% yearly.
EPS 1Y (TTM)-2.78%
EPS 3Y-39.64%
EPS 5YN/A
EPS Q2Q%-1.59%
Revenue 1Y (TTM)-1.9%
Revenue growth 3Y-6.57%
Revenue growth 5Y-2.43%
Sales Q2Q%3.03%

3.2 Future

  • MT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 27.53% yearly.
  • Based on estimates for the next years, MT will show a small growth in Revenue. The Revenue will grow by 2.09% on average per year.
EPS Next Y25.82%
EPS Next 2Y31.04%
EPS Next 3Y27.53%
EPS Next 5YN/A
Revenue Next Year-1.71%
Revenue Next 2Y2.99%
Revenue Next 3Y2.89%
Revenue Next 5Y2.09%

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 0 5 10

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6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 16.56, the valuation of MT can be described as correct.
  • MT's Price/Earnings ratio is a bit cheaper when compared to the industry. MT is cheaper than 77.27% of the companies in the same industry.
  • MT is valuated rather cheaply when we compare the Price/Earnings ratio to 27.67, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 11.47, the valuation of MT can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, MT is valued cheaply inside the industry as 88.64% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.20, MT is valued rather cheaply.
Industry RankSector Rank
PE 16.56
Fwd PE 11.47
MT.AS Price Earnings VS Forward Price EarningsMT.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MT indicates a somewhat cheap valuation: MT is cheaper than 75.00% of the companies listed in the same industry.
  • MT's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. MT is more expensive than 61.36% of the companies in the same industry.
Industry RankSector Rank
P/FCF 975.99
EV/EBITDA 8.58
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.
  • MT's earnings are expected to grow with 27.53% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.64
PEG (5Y)N/A
EPS Next 2Y31.04%
EPS Next 3Y27.53%

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

4

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.97%, MT is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 1.63, MT pays a bit more dividend than its industry peers.
  • With a Dividend Yield of 0.97, MT pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.97%

5.2 History

  • On average, the dividend of MT grows each year by 37.57%, which is quite nice.
Dividend Growth(5Y)37.57%
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

  • 15.59% 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.
DP15.59%
EPS Next 2Y31.04%
EPS Next 3Y27.53%
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 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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ARCELORMITTAL

AMS:MT (2/5/2026, 7:00:00 PM)

49.01

+1.47 (+3.09%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-06
Earnings (Next)02-05
Inst Owners24.15%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap37.98B
Revenue(TTM)61.09B
Net Income(TTM)2.58B
Analysts77.69
Price Target38.73 (-20.98%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.97%
Yearly Dividend0.41
Dividend Growth(5Y)37.57%
DP15.59%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-13.29%
Min EPS beat(2)-14.82%
Max EPS beat(2)-11.77%
EPS beat(4)1
Avg EPS beat(4)1.79%
Min EPS beat(4)-14.82%
Max EPS beat(4)46.15%
EPS beat(8)4
Avg EPS beat(8)20.6%
EPS beat(12)8
Avg EPS beat(12)49.74%
EPS beat(16)11
Avg EPS beat(16)38.52%
Revenue beat(2)0
Avg Revenue beat(2)-1.04%
Min Revenue beat(2)-1.96%
Max Revenue beat(2)-0.12%
Revenue beat(4)0
Avg Revenue beat(4)-3.27%
Min Revenue beat(4)-5.69%
Max Revenue beat(4)-0.12%
Revenue beat(8)0
Avg Revenue beat(8)-3.91%
Revenue beat(12)2
Avg Revenue beat(12)-1.88%
Revenue beat(16)5
Avg Revenue beat(16)-0.82%
PT rev (1m)5.25%
PT rev (3m)13.34%
EPS NQ rev (1m)-16.23%
EPS NQ rev (3m)-22.44%
EPS NY rev (1m)2.71%
EPS NY rev (3m)-5.87%
Revenue NQ rev (1m)0.34%
Revenue NQ rev (3m)-0.36%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.82%
Valuation
Industry RankSector Rank
PE 16.56
Fwd PE 11.47
P/S 0.73
P/FCF 975.99
P/OCF 10.52
P/B 0.82
P/tB 0.91
EV/EBITDA 8.58
EPS(TTM)2.96
EY6.04%
EPS(NY)4.27
Fwd EY8.71%
FCF(TTM)0.05
FCFY0.1%
OCF(TTM)4.66
OCFY9.51%
SpS66.69
BVpS59.61
TBVpS54
PEG (NY)0.64
PEG (5Y)N/A
Graham Number63.01
Profitability
Industry RankSector Rank
ROA 2.62%
ROE 4.73%
ROCE 4.23%
ROIC 2.71%
ROICexc 2.94%
ROICexgc 3.17%
OM 5.21%
PM (TTM) 4.23%
GM 10.02%
FCFM 0.08%
ROA(3y)4.11%
ROA(5y)5.59%
ROE(3y)7.31%
ROE(5y)10.09%
ROIC(3y)5.89%
ROIC(5y)6.85%
ROICexc(3y)6.67%
ROICexc(5y)7.53%
ROICexgc(3y)7.22%
ROICexgc(5y)8.13%
ROCE(3y)9.27%
ROCE(5y)10.79%
ROICexgc growth 3Y-39.58%
ROICexgc growth 5Y23.07%
ROICexc growth 3Y-39.61%
ROICexc growth 5Y23.43%
OM growth 3Y-35.65%
OM growth 5Y25.94%
PM growth 3Y-52.12%
PM growth 5YN/A
GM growth 3Y-26.65%
GM growth 5Y13.62%
F-Score6
Asset Turnover0.62
Health
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 323.22
Debt/EBITDA 1.71
Cap/Depr 142.86%
Cap/Sales 6.91%
Interest Coverage 250
Cash Conversion 69.56%
Profit Quality 1.78%
Current Ratio 1.39
Quick Ratio 0.58
Altman-Z N/A
F-Score6
WACC8.64%
ROIC/WACC0.31
Cap/Depr(3y)155.77%
Cap/Depr(5y)133.78%
Cap/Sales(3y)6.05%
Cap/Sales(5y)5.33%
Profit Quality(3y)145.24%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-2.78%
EPS 3Y-39.64%
EPS 5YN/A
EPS Q2Q%-1.59%
EPS Next Y25.82%
EPS Next 2Y31.04%
EPS Next 3Y27.53%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.9%
Revenue growth 3Y-6.57%
Revenue growth 5Y-2.43%
Sales Q2Q%3.03%
Revenue Next Year-1.71%
Revenue Next 2Y2.99%
Revenue Next 3Y2.89%
Revenue Next 5Y2.09%
EBIT growth 1Y-7.9%
EBIT growth 3Y-39.88%
EBIT growth 5Y22.88%
EBIT Next Year69.53%
EBIT Next 3Y32.11%
EBIT Next 5Y19.8%
FCF growth 1Y-98.6%
FCF growth 3Y-59.84%
FCF growth 5Y-28.87%
OCF growth 1Y-46.31%
OCF growth 3Y-21.18%
OCF growth 5Y-4.24%

ARCELORMITTAL / MT.AS FAQ

What is the fundamental rating for MT stock?

ChartMill assigns a fundamental rating of 4 / 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.


How profitable is ARCELORMITTAL (MT.AS) stock?

ARCELORMITTAL (MT.AS) has a profitability rating of 4 / 10.


What are the PE and PB ratios of ARCELORMITTAL (MT.AS) stock?

The Price/Earnings (PE) ratio for ARCELORMITTAL (MT.AS) is 16.56 and the Price/Book (PB) ratio is 0.82.


Is the dividend of ARCELORMITTAL sustainable?

The dividend rating of ARCELORMITTAL (MT.AS) is 4 / 10 and the dividend payout ratio is 15.59%.