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ARCELORMITTAL (MT.AS) Stock Fundamental Analysis

AMS:MT - Euronext Amsterdam - LU1598757687 - Common Stock - Currency: EUR

25.85  -1.02 (-3.8%)

Fundamental Rating

4

MT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 36 industry peers in the Metals & Mining industry. MT has a medium profitability rating, but doesn't score so well on its financial health evaluation. MT is valued quite cheap, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year MT was profitable.
In the past year MT had a positive cash flow from operations.
MT had positive earnings in 4 of the past 5 years.
Each year in the past 5 years MT had a positive operating cash flow.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B 10B 15B

1.2 Ratios

Looking at the Return On Assets, with a value of 1.32%, MT is in line with its industry, outperforming 47.22% of the companies in the same industry.
With a Return On Equity value of 2.36%, MT perfoms like the industry average, outperforming 47.22% of the companies in the same industry.
With a Return On Invested Capital value of 3.14%, MT perfoms like the industry average, outperforming 47.22% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for MT is in line with the industry average of 7.09%.
Industry RankSector Rank
ROA 1.32%
ROE 2.36%
ROIC 3.14%
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20

1.3 Margins

MT has a Profit Margin (1.98%) which is comparable to the rest of the industry.
MT's Profit Margin has declined in the last couple of years.
MT's Operating Margin of 5.57% is in line compared to the rest of the industry. MT outperforms 47.22% of its industry peers.
MT's Operating Margin has improved in the last couple of years.
MT has a Gross Margin of 10.04%. This is in the lower half of the industry: MT underperforms 75.00% of its industry peers.
MT's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 5.57%
PM (TTM) 1.98%
GM 10.04%
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 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.
MT has less shares outstanding than it did 1 year ago.
The number of shares outstanding for MT has been reduced compared to 5 years ago.
The debt/assets ratio for MT is higher compared to a year ago.
MT.AS Yearly Shares OutstandingMT.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B

2.2 Solvency

MT has a debt to FCF ratio of 26.08. This is a negative value and a sign of low solvency as MT would need 26.08 years to pay back of all of its debts.
MT has a worse Debt to FCF ratio (26.08) than 61.11% of its industry peers.
A Debt/Equity ratio of 0.17 indicates that MT is not too dependend on debt financing.
MT's Debt to Equity ratio of 0.17 is fine compared to the rest of the industry. MT outperforms 72.22% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 26.08
Altman-Z N/A
ROIC/WACC0.37
WACC8.52%
MT.AS Yearly LT Debt VS Equity VS FCFMT.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B 30B 40B 50B

2.3 Liquidity

MT has a Current Ratio of 1.35. 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 (1.35) than 80.56% of its industry peers.
MT has a Quick Ratio of 1.35. This is a bad value and indicates that MT is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.58, MT is not doing good in the industry: 83.33% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 1.35
Quick Ratio 0.58
MT.AS Yearly Current Assets VS Current LiabilitesMT.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

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3

3. Growth

3.1 Past

The earnings per share for MT have decreased strongly by -50.00% in the last year.
The earnings per share for MT have been decreasing by -39.64% on average. This is quite bad
Looking at the last year, MT shows a decrease in Revenue. The Revenue has decreased by -7.72% in the last year.
MT shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -2.43% yearly.
EPS 1Y (TTM)-50%
EPS 3Y-39.64%
EPS 5YN/A
EPS Q2Q%-10.34%
Revenue 1Y (TTM)-7.72%
Revenue growth 3Y-6.57%
Revenue growth 5Y-2.43%
Sales Q2Q%-9.11%

3.2 Future

MT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 23.77% yearly.
MT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.81% yearly.
EPS Next Y32.71%
EPS Next 2Y31.91%
EPS Next 3Y23.77%
EPS Next 5YN/A
Revenue Next Year-3.05%
Revenue Next 2Y0.4%
Revenue Next 3Y0.64%
Revenue Next 5Y0.81%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MT.AS Yearly Revenue VS EstimatesMT.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20B 40B 60B 80B
MT.AS Yearly EPS VS EstimatesMT.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 5 10

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7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 10.55, which indicates a very decent valuation of MT.
MT's Price/Earnings ratio is a bit cheaper when compared to the industry. MT is cheaper than 75.00% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.34, MT is valued rather cheaply.
A Price/Forward Earnings ratio of 5.82 indicates a rather cheap valuation of MT.
94.44% of the companies in the same industry are more expensive than MT, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of MT to the average of the S&P500 Index (22.19), we can say MT is valued rather cheaply.
Industry RankSector Rank
PE 10.55
Fwd PE 5.82
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

Based on the Enterprise Value to EBITDA ratio, MT is valued a bit cheaper than 69.44% 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 54.91
EV/EBITDA 5.48
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

The 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 23.77% in the coming years.
PEG (NY)0.32
PEG (5Y)N/A
EPS Next 2Y31.91%
EPS Next 3Y23.77%

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4

5. Dividend

5.1 Amount

MT has a Yearly Dividend Yield of 1.79%.
MT's Dividend Yield is comparable with the industry average which is at 3.20.
Compared to the average S&P500 Dividend Yield of 2.40, MT is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.79%

5.2 History

The dividend of MT is nicely growing with an annual growth rate of 37.57%!
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

32.59% of the earnings are spent on dividend by MT. This is a low number and sustainable payout ratio.
MT's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP32.59%
EPS Next 2Y31.91%
EPS Next 3Y23.77%
MT.AS Yearly Income VS Free CF VS DividendMT.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -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 (6/19/2025, 5:35:37 PM)

25.85

-1.02 (-3.8%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)04-30 2025-04-30/bmo
Earnings (Next)07-31 2025-07-31/bmo
Inst Owners19.71%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap22.05B
Analysts79.23
Price Target32.3 (24.95%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.79%
Yearly Dividend0.43
Dividend Growth(5Y)37.57%
DP32.59%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)16.88%
Min EPS beat(2)-12.4%
Max EPS beat(2)46.15%
EPS beat(4)2
Avg EPS beat(4)4.1%
Min EPS beat(4)-29.23%
Max EPS beat(4)46.15%
EPS beat(8)6
Avg EPS beat(8)27.32%
EPS beat(12)9
Avg EPS beat(12)50.54%
EPS beat(16)12
Avg EPS beat(16)41.31%
Revenue beat(2)0
Avg Revenue beat(2)-5.49%
Min Revenue beat(2)-5.69%
Max Revenue beat(2)-5.3%
Revenue beat(4)0
Avg Revenue beat(4)-4.39%
Min Revenue beat(4)-5.69%
Max Revenue beat(4)-2.12%
Revenue beat(8)0
Avg Revenue beat(8)-4.72%
Revenue beat(12)3
Avg Revenue beat(12)-1.27%
Revenue beat(16)5
Avg Revenue beat(16)-1.39%
PT rev (1m)0%
PT rev (3m)2.41%
EPS NQ rev (1m)3.19%
EPS NQ rev (3m)5.18%
EPS NY rev (1m)0%
EPS NY rev (3m)-4.87%
Revenue NQ rev (1m)-0.38%
Revenue NQ rev (3m)-0.44%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.42%
Valuation
Industry RankSector Rank
PE 10.55
Fwd PE 5.82
P/S 0.42
P/FCF 54.91
P/OCF 5.52
P/B 0.5
P/tB 0.54
EV/EBITDA 5.48
EPS(TTM)2.45
EY9.48%
EPS(NY)4.45
Fwd EY17.2%
FCF(TTM)0.47
FCFY1.82%
OCF(TTM)4.69
OCFY18.12%
SpS62.11
BVpS52.18
TBVpS47.49
PEG (NY)0.32
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.32%
ROE 2.36%
ROCE 4.89%
ROIC 3.14%
ROICexc 3.4%
ROICexgc 3.66%
OM 5.57%
PM (TTM) 1.98%
GM 10.04%
FCFM 0.76%
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%
ROICexcg growth 3Y-39.58%
ROICexcg 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 Turnover0.67
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 26.08
Debt/EBITDA 1.42
Cap/Depr 156.31%
Cap/Sales 6.79%
Interest Coverage 250
Cash Conversion 76.11%
Profit Quality 38.31%
Current Ratio 1.35
Quick Ratio 0.58
Altman-Z N/A
F-Score6
WACC8.52%
ROIC/WACC0.37
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)-50%
EPS 3Y-39.64%
EPS 5YN/A
EPS Q2Q%-10.34%
EPS Next Y32.71%
EPS Next 2Y31.91%
EPS Next 3Y23.77%
EPS Next 5YN/A
Revenue 1Y (TTM)-7.72%
Revenue growth 3Y-6.57%
Revenue growth 5Y-2.43%
Sales Q2Q%-9.11%
Revenue Next Year-3.05%
Revenue Next 2Y0.4%
Revenue Next 3Y0.64%
Revenue Next 5Y0.81%
EBIT growth 1Y-28.72%
EBIT growth 3Y-39.88%
EBIT growth 5Y22.88%
EBIT Next Year89.21%
EBIT Next 3Y30.64%
EBIT Next 5Y21.19%
FCF growth 1Y-91.18%
FCF growth 3Y-59.84%
FCF growth 5Y-28.87%
OCF growth 1Y-49.57%
OCF growth 3Y-21.18%
OCF growth 5Y-4.24%