ARCELORMITTAL (MT.AS) Fundamental Analysis & Valuation

AMS:MT • LU1598757687

46.04 EUR
-1.86 (-3.88%)
Last: Mar 9, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

4

Taking everything into account, MT scores 4 out of 10 in our fundamental rating. MT was compared to 44 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 has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

4

1. MT.AS Profitability Analysis

1.1 Basic Checks

  • MT had positive earnings in the past year.
  • MT had a positive operating cash flow in the past year.
  • In the past 5 years MT has always been profitable.
  • MT had a positive operating cash flow in each of the past 5 years.
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

  • MT has a Return On Assets (3.23%) which is in line with its industry peers.
  • MT has a Return On Equity (5.79%) which is comparable to the rest of the industry.
  • MT's Return On Invested Capital of 2.71% is on the low side compared to the rest of the industry. MT is outperformed by 61.36% of its industry peers.
Industry RankSector Rank
ROA 3.23%
ROE 5.79%
ROIC 2.71%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
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

  • MT has a Profit Margin (5.14%) which is in line with its industry peers.
  • In the last couple of years the Profit Margin of MT has declined.
  • Looking at the Operating Margin, with a value of 4.83%, MT is in line with its industry, outperforming 43.18% of the companies in the same industry.
  • MT's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 4.83%
PM (TTM) 5.14%
GM N/A
OM growth 3Y-30.13%
OM growth 5Y37.82%
PM growth 3Y-23.88%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
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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2

2. MT.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MT is destroying value.
  • MT has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
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 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.
  • With a Debt to FCF ratio value of 28.65, MT perfoms like the industry average, outperforming 45.45% of the companies in the same industry.
  • A Debt/Equity ratio of 0.20 indicates that MT is not too dependend on debt financing.
  • MT has a Debt to Equity ratio (0.20) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 28.65
Altman-Z N/A
ROIC/WACC0.3
WACC9.14%
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

  • MT has a Current Ratio of 1.36. 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 Current ratio of 1.36. This is in the lower half of the industry: MT underperforms 79.55% of its industry peers.
  • A Quick Ratio of 0.53 indicates that MT may have some problems paying its short term obligations.
  • MT has a Quick ratio of 0.53. This is amonst the worse of the industry: MT underperforms 84.09% 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 10B 20B 30B

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

5

3. MT.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 30.61% over the past year.
  • Measured over the past years, MT shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -29.57% on average per year.
  • MT shows a decrease in Revenue. In the last year, the revenue decreased by -1.74%.
  • 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
  • MT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.66% yearly.
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.
  • 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 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

  • The Price/Earnings ratio is 13.87, which indicates a correct valuation of MT.
  • 84.09% of the companies in the same industry are more expensive than MT, based on the Price/Earnings ratio.
  • MT is valuated rather cheaply when we compare the Price/Earnings ratio to 26.46, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 9.91, the valuation of MT can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, MT is valued cheaper than 84.09% of the companies in the same industry.
  • MT is valuated cheaply when we compare the Price/Forward Earnings ratio to 24.65, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.87
Fwd PE 9.91
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

  • 77.27% of the companies in the same industry are more expensive than MT, based on the Enterprise Value to EBITDA ratio.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as MT.
Industry RankSector Rank
P/FCF 88.14
EV/EBITDA 8.32
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.
  • MT's earnings are expected to grow with 21.18% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.35
PEG (5Y)N/A
EPS Next 2Y32.05%
EPS Next 3Y21.19%

More info and screens

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

4

5. MT.AS Dividend Analysis

5.1 Amount

  • MT has a Yearly Dividend Yield of 1.03%.
  • Compared to an average industry Dividend Yield of 1.50, MT pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, MT's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.03%

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

  • 13.36% 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.
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

More info and screens

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MT.AS Fundamentals: All Metrics, Ratios and Statistics

ARCELORMITTAL

AMS:MT (3/9/2026, 7:00:00 PM)

46.04

-1.86 (-3.88%)

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 Cap35.68B
Revenue(TTM)61.35B
Net Income(TTM)3.15B
Analysts80
Price Target50.73 (10.19%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.03%
Yearly Dividend0.42
Dividend Growth(5Y)37.57%
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)17.12%
PT rev (3m)37.87%
EPS NQ rev (1m)4.26%
EPS NQ rev (3m)-20.3%
EPS NY rev (1m)6.42%
EPS NY rev (3m)7.3%
Revenue NQ rev (1m)-1.6%
Revenue NQ rev (3m)-2.3%
Revenue NY rev (1m)0.95%
Revenue NY rev (3m)0.79%
Valuation
Industry RankSector Rank
PE 13.87
Fwd PE 9.91
P/S 0.67
P/FCF 88.14
P/OCF 8.58
P/B 0.76
P/tB 0.84
EV/EBITDA 8.32
EPS(TTM)3.32
EY7.21%
EPS(NY)4.65
Fwd EY10.09%
FCF(TTM)0.52
FCFY1.13%
OCF(TTM)5.36
OCFY11.65%
SpS68.47
BVpS60.79
TBVpS54.93
PEG (NY)0.35
PEG (5Y)N/A
Graham Number67.39
Profitability
Industry RankSector Rank
ROA 3.23%
ROE 5.79%
ROCE 3.94%
ROIC 2.71%
ROICexc 2.92%
ROICexgc 3.16%
OM 4.83%
PM (TTM) 5.14%
GM N/A
FCFM 0.76%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-30.13%
OM growth 5Y37.82%
PM growth 3Y-23.88%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.63
Health
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 28.65
Debt/EBITDA 1.75
Cap/Depr 137.73%
Cap/Sales 7.07%
Interest Coverage 250
Cash Conversion 78.64%
Profit Quality 14.85%
Current Ratio 1.36
Quick Ratio 0.53
Altman-Z N/A
F-Score7
WACC9.14%
ROIC/WACC0.3
Cap/Depr(3y)156.87%
Cap/Depr(5y)144.85%
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-18.7%
EBIT growth 3Y-36.01%
EBIT growth 5Y41.77%
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 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 13.87 and the Price/Book (PB) ratio is 0.76.


Is the dividend of ARCELORMITTAL sustainable?

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