MT Stock Analysis: ArcelorMittal | AS
Steel | AS, Netherlands | Market Cap: 45.011m EUR | 12M Return: 76.5% | LU1598757687 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 91.8M
EPS Trend: -72.9%
Qual. Beats: 0
Rev. Trend: -77.4%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
ArcelorMittal S.A. is a Luxembourg-headquartered, integrated steel and mining company operating across the Americas, Europe, Asia, and Africa. Its product portfolio spans semi-finished and finished flat and long steel products-including slabs, plates, hot- and cold-rolled coils, tinplate, bars, wire-rods, rails, and seamless and welded pipes and tubes-alongside mining outputs such as iron ore lumps, fines, concentrate, pellets, sinter feeds, and coking coal. The company serves a diversified customer base in the automotive, appliance, engineering, construction, energy, and machinery sectors, distributing through a centralized marketing organization and third-party distributors. Its iron ore mining footprint spans Brazil, Bosnia, Liberia, Mexico, South Africa, Ukraine, India, and Canada. Founded in 1976 and listed on the Amsterdam Stock Exchange (ticker: MT) following its 1997 IPO, ArcelorMittal is classified as a large-cap Materials stock in the steel sub-industry.
Sector/business context: Integrated steel producers like ArcelorMittal typically own or control upstream raw material inputs (iron ore and coking coal), which helps insulate margins from volatile commodity cycles-a notable strategic advantage given that raw materials represent the largest cost component in steelmaking. The steel industry is cyclical and capital-intensive, with demand closely tied to construction and automotive end-markets, and is currently navigating the global energy transition, which is reshaping demand patterns for both traditional high-carbon steel and emerging low-carbon production routes.
- European steel demand recovery boosts flat product pricing
- Iron ore and coking coal cost volatility pressures margins
- EU carbon border adjustment mechanism favors domestic producers
| Net Income: 1.81b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -2.32 > 1.0 |
| NWC/Revenue: 15.27% < 20% (prev 15.46%; Δ -0.19% < -1%) |
| CFO/TA 0.05 > 3% & CFO 4.87b > Net Income 1.81b |
| Net Debt (10.6b) to EBITDA (6.50b): 1.63 < 3 |
| Current Ratio: 1.43 > 1.5 & < 3 |
| Outstanding Shares: last quarter (764.0m) vs 12m ago -0.13% < -2% |
| Gross Margin: 9.58% > 18% (prev 9.93%; Δ -0.35% > 0.5%) |
| Asset Turnover: 63.48% > 50% (prev 61.32%; Δ 2.16% > 0%) |
| Interest Coverage Ratio: 6.11 > 6 (EBIT TTM 3.49b / Interest Expense TTM 571.6m) |
| A: 0.10 (Total Current Assets 32.0b - Total Current Liabilities 22.4b) / Total Assets 99.1b |
| B: 0.51 (Retained Earnings 50.7b / Total Assets 99.1b) |
| C: 0.04 (EBIT TTM 3.49b / Avg Total Assets 99.0b) |
| D: 1.30 (Book Value of Equity 54.8b / Total Liabilities 42.3b) |
| Altman-Z'' = 3.90 = AA |
| DSRI: 0.94 (Receivables 4.51b/4.63b, Revenue 62.8b/60.6b) |
| GMI: 1.04 (GM 9.93% / 9.58%) |
| AQI: 0.98 (AQ_t 0.26 / AQ_t-1 0.27) |
| SGI: 1.04 (Revenue 62.8b / 60.6b) |
| TATA: -0.03 (NI 1.81b - CFO 4.87b) / TA 99.1b) |
| Beneish M = -3.03 (Cap -4..+1) = AA |
As of October 07, 2026, the stock is trading at EUR 58.24 with a total of 1,410,067 shares traded. Over the past week, the price has changed by -2.64%, over one month by -13.77%, over three months by +2.45% and over the past year by +76.52%.
Current recommended Stop Loss: 54.40 (which is 6.6% or 1.9 ATR below the current price).
ArcelorMittal has no consensus analysts rating.
Market Cap USD = 50.7b (45.0b EUR * 1.12543 EUR.USD)
P/E Trailing = 28.622
P/E Forward = 11.4025
P/S = 0.7162
P/B = 0.9958
P/EG = 0.6568
Revenue TTM = 62.8b USD
EBIT TTM = 3.49b USD
EBITDA TTM = 6.50b USD
Long Term Debt = 11.7b USD (from longTermDebt, last quarter)
Short Term Debt = 2.69b USD (from shortTermDebt, last quarter)
Debt = 15.5b USD (from shortLongTermDebtTotal, last quarter) + Leases 1.09b
Net Debt = 10.6b USD (calculated: Debt 15.5b - CCE 4.90b)
Enterprise Value = 61.3b USD (50.7b + Debt 15.5b - CCE 4.90b)
Interest Coverage Ratio = 6.11 (Ebit TTM 3.49b / Interest Expense TTM 571.6m)
EV/FCF = -44.04x (Enterprise Value 61.3b / FCF TTM -1.39b)
FCF Yield = -2.27% (FCF TTM -1.39b / Enterprise Value 61.3b)
FCF Margin = -2.21% (FCF TTM -1.39b / Revenue TTM 62.8b)
Net Margin = 2.88% (Net Income TTM 1.81b / Revenue TTM 62.8b)
Gross Margin = 9.58% ((Revenue TTM 62.8b - Cost of Revenue TTM 56.8b) / Revenue TTM)
Gross Margin QoQ = 10.45% (prev 9.72%)
Tobins Q-Ratio = 0.62 (Enterprise Value 61.3b / Total Assets 99.1b)
Interest Expense / Debt = 3.68% (Interest Expense 571.6m / Debt 15.5b)
Taxrate = 10.40% (216.0m / 2.08b)
NOPAT = 3.13b (EBIT 3.49b * (1 - 10.40%))
Current Ratio = 1.43 (Total Current Assets 32.0b / Total Current Liabilities 22.4b)
Debt / Equity = 0.28 (Debt 15.5b / totalStockholderEquity, last quarter 54.8b)
Debt / EBITDA = 1.63 (Net Debt 10.6b / EBITDA 6.50b)
Debt / FCF = -7.63 (negative FCF - burning cash) (Net Debt 10.6b / FCF TTM -1.39b)
Total Stockholder Equity = 54.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.83% (Net Income 1.81b / Total Assets 99.1b)
RoE = 3.31% (Net Income TTM 1.81b / Total Stockholder Equity 54.8b)
RoCE = 5.25% (EBIT 3.49b / Capital Employed (Equity 54.8b + L.T.Debt 11.7b))
RoIC = 4.10% (NOPAT 3.13b / Invested Capital 76.3b)
WACC = 8.45% (E(50.7b)/V(66.2b) * Re(10.03%) + D(15.5b)/V(66.2b) * Rd(3.68%) * (1-Tc(0.10)))
Discount Rate = 10.03% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -85.98 | Cagr: -2.62%
[DCF] Fair Price = unknown (Cash Flow -1.39b)
EPS Correlation: -72.90 | EPS CAGR: -18.91% | SUE: -0.83 | # QB: 0
Revenue Correlation: -77.37 | Revenue CAGR: -4.08% | SUE: -0.39 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.17 | Chg30d=-5.46% | Revisions=-29% | Analysts=4
EPS current Year (2026-12-31): EPS=4.37 | Chg30d=-1.40% | Revisions=-17% | GrowthEPS=+13.6% | GrowthRev=+9.7%
EPS next Year (2027-12-31): EPS=7.61 | Chg30d=+0.38% | Revisions=+50% | GrowthEPS=+74.0% | GrowthRev=+7.7%
[Analyst] Revisions Ratio: +0% (up=5, down=5)