Tuesday 13 October 2026 Export MT’s income statement to Excel — free account

ArcelorMittal

ArcelorMittal’s revenue for fiscal 2025 (year ended December 2025) was $61.4 billion, down 1.74% from fiscal 2024. In the quarter to June 2026, revenue grew 5.24%, EPS fell 61.7%, free cash flow fell 126.6% and total debt rose 5.02%, each against the same quarter a year earlier.

63.80 0.85 +1.35%

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Market cap: $47.5B
P/E: 26.3×
Fwd P/E: 14.7×
Dividend yield: 1.39%
F-score: 6/9
Altman Z: 1.78
Beneish M: −2.41
Dividend safety: 45/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.80%

Capital & Financial Ratios $m

Market Cap 47,470.00

Revenue 62,846.00

Net Income 1,860.00

Free Cash Flow (59.00)

Net Debt 9,523.00

Current Ratio 1.43

Debt/Equity 0.25

P/E ratio 26.34

Fwd P/E 14.70

P/S ratio 0.76

P/B ratio 0.84

Past 5Y EPS Growth —

This Y EPS Growth 1.14%

Next Y EPS Growth 70.28%

Next Y revenue growth 9.54%

Next 5Y EPS Growth 23.77%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 91.12%

10-year low 10-year high

P/S against its own 10 years 95.75%

10-year low 10-year high

P/B against its own 10 years 89.85%

10-year low 10-year high

EV/Sales against its own 10 years 96.01%

10-year low 10-year high

Dividends

Payout Ratio 0.37

Annual Dividend Rate 0.88

Annual Dividend Yield 1.39%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.60	0.15 0.15 0.15 0.15
2025	0.55	0.28 0.28
2024	0.50	0.25 0.25
2023	0.63	0.19 0.22 0.22
2022	0.38	0.38
2021	0.30	0.30
2019	0.20	0.20
2018	0.10	0.10

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	7,783	6,484	5,476	4,898
Receivables	3,661	3,375	3,476	4,508
Inventory	18,759	16,501	18,589	19,283
Other	—	—	37	140
	33,240	29,382	30,605	31,992

	2023	2024	2025	Q'26
Payables	13,605	12,921	13,008	12,932
ST’ Debt	2,312	2,748	2,739	2,694
Other	588	938	1,058	993
	21,769	21,825	22,520	22,395

Compound Annual Growth %

	10y	5y	3y
Sales	(0.36%)	2.87%	(8.41%)
Cash Flow	8.38%	3.33%	(22.18%)
Earnings	0.00%	0.00%	(30.28%)
Book Value	7.45%	7.04%	0.56%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	15,457	16,761	—	—	—
’25	14,798	15,926	15,657	14,971	61,352
’24	16,282	16,249	15,196	14,714	62,441
’23	18,501	18,606	16,616	14,552	68,275
’22	21,836	22,142	18,975	16,891	79,844
’21	16,193	19,343	20,229	20,806	76,571
’20	14,844	10,976	13,266	14,184	53,270

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(9)	961	—	—	—
’25	(354)	1,416	751	2,995	4,808
’24	(100)	1,073	1,411	2,468	4,852
’23	949	2,087	1,281	3,328	7,645
’22	2,034	2,554	1,981	3,634	10,203
’21	997	2,312	2,442	4,154	9,905
’20	594	302	1,770	1,416	4,082

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,280)	(141)	—	—	—
’25	(1,321)	530	(486)	1,848	571
’24	(1,336)	88	360	1,903	1,015
’23	11	1,027	116	2,596	3,750
’22	1,505	1,899	1,197	2,229	6,830
’21	378	1,743	1,767	3,005	6,893
’20	(256)	(99)	1,250	748	1,643

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.75	0.89	—	—	—
’25	1.04	2.34	0.49	0.23	4.11
’24	1.16	0.63	0.37	(0.51)	1.69
’23	1.27	2.20	1.10	(3.57)	1.09
’22	4.27	4.24	1.11	0.30	10.18
’21	1.93	3.46	4.16	3.92	13.49
’20	(1.11)	(0.50)	(0.21)	1.00	(0.64)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	6.70	19.59	19.84	12.53	6.64	20.50	19.25	21.30	20.52	21.59	Analyst estimates 2026–2028 Powerpack
	High	26.52	33.01	37.50	24.24	24.03	36.58	37.87	32.49	28.95	46.60
People
People	Employees	198,517	197,108	208,583	191,248	167,743	157,909	154,352	126,756	125,416	125,554
	Revenue/emp, $m	0.29	0.35	0.36	0.37	0.32	0.48	0.52	0.54	0.50	0.49
Income, $m
Income, $m	Revenue	56,791	68,679	76,033	70,615	53,270	76,571	79,844	68,275	62,441	61,352
	Gross margin, %	11.20	11.36	11.85	2.45	7.76	25.12	15.70	6.94	9.27	7.13
	EBT	2,720	5,007	4,981	(1,932)	1,088	18,025	11,255	1,260	2,915	3,602
	EBT margin, %	4.79	7.29	6.55	(2.74)	2.04	23.54	14.10	1.85	4.67	5.87
	Net income	1,734	4,575	5,330	(2,391)	(578)	15,565	9,538	1,022	1,380	3,243
	Depreciation	2,721	2,768	2,799	3,067	2,960	2,523	2,580	2,675	2,632	2,945
Per share, $
Per share, $	Revenue	59.59	67.33	74.91	69.71	46.73	69.30	87.64	81.09	79.24	80.41
	Earnings	1.86	4.48	5.07	(2.42)	(0.64)	13.53	10.21	1.09	1.70	4.13
	Cash flow	2.84	4.47	4.13	5.94	3.58	8.96	11.20	9.08	6.16	6.30
	Capex	(2.39)	(2.76)	(3.19)	(3.53)	(2.14)	(2.73)	(3.70)	(4.63)	(4.87)	(5.55)
	Free cash flow	0.45	1.71	0.94	2.41	1.44	6.24	7.50	4.45	1.29	0.75
	Book value	33.92	40.05	43.46	39.96	35.30	46.47	61.02	66.59	65.08	74.10
	Shares, m	953	1,020	1,015	1,013	1,140	1,105	911	842	788	763
Valuation, ×
Valuation, ×	P/E	15.02	7.59	4.07	0.00	0.00	2.36	2.68	27.40	14.02	11.03
	P/S	0.38	0.51	0.28	0.25	0.49	0.46	0.30	0.35	0.29	0.57
	P/B	0.66	0.85	0.48	0.44	0.65	0.69	0.44	0.42	0.36	0.62
	EV/Sales	0.57	0.65	0.41	0.38	0.61	0.51	0.33	0.39	0.37	0.70
	EV/FCF	75.83	25.75	32.54	11.09	19.76	5.69	3.88	7.11	22.96	74.79
Cash, $m
Cash, $m	Operating cash flow	2,708	4,563	4,196	6,017	4,082	9,905	10,203	7,645	4,852	4,808
	Capex	(2,279)	(2,819)	(3,240)	(3,572)	(2,439)	(3,012)	(3,373)	(3,895)	(3,837)	(4,237)
	Free cash flow	429	1,744	956	2,445	1,643	6,893	6,830	3,750	1,015	571
Balance, $m
Balance, $m	Working capital	4,132	5,335	9,020	7,329	5,306	10,772	14,720	11,471	7,557	8,085
	Total debt	13,674	12,928	12,483	14,340	12,322	8,401	11,650	10,681	11,563	13,410
	Net debt	11,059	10,142	10,129	9,345	6,359	4,030	2,236	2,898	5,079	7,934
	Shareholders’ equity	32,325	40,855	44,108	40,483	40,237	51,344	55,590	56,068	51,286	56,536
Returns, %
Returns, %	ROA	2.34	5.69	5.83	(2.74)	(0.86)	17.33	10.05	0.98	1.46	3.37
	ROIC	5.99	6.66	7.54	(0.79)	2.83	19.16	11.10	2.48	3.67	3.52
	ROE	5.94	12.48	12.12	(5.80)	(1.82)	32.66	17.40	1.65	2.49	5.85

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NUE Nucor Corporation	$56.8B	20.1×	16.9×	+22.95% (above 0%: growing)	+94.23% (above 0%: growing)	+549.46% (above 0%: growing)	19.56%	15.67%	Compare
MT ArcelorMittal	$48.3B	26.3×	14.7×	+5.24% (above 0%: growing)	−61.70% (below 0%: shrinking)	−126.60% (below 0%: shrinking)	10.95%	6.29%
STLD Steel Dynamics, Inc.	$34.2B	21.6×	17.8×	+33.44% (above 0%: growing)	+84.58% (above 0%: growing)	+2,189.86% (above 0%: growing)	15.74%	11.50%	Compare
RS Reliance, Inc.	$20.6B	23.2×	20.2×	+26.51% (above 0%: growing)	+42.57% (above 0%: growing)	−45.43% (below 0%: shrinking)	28.09%	9.54%	Compare
PKX POSCO Holdings Inc.	$17.4B	21.1×	—	+9.70% (above 0%: growing)	+271.43% (above 0%: growing)	−156.79% (below 0%: shrinking)	8.62%	4.25%	Compare
TX Ternium S.A.	$11.4B	16.3×	9.2×	+9.97% (above 0%: growing)	+59.09% (above 0%: growing)	−174.72% (below 0%: shrinking)	21.68%	12.17%	Compare
CLF Cleveland-Cliffs Inc.	$7.4B	— (loss-making)	— (loss-making)	+5.92% (above 0%: growing)	n/m	+208.96% (above 0%: growing)	2.53%	(0.94%)	Compare
GGB Gerdau S.A.	$6.3B	22.3×	—	+14.33% (above 0%: growing)	+87.50% (above 0%: growing)	+171.99% (above 0%: growing)	15.83%	13.05%	Compare
SIM Grupo Simec, S.A. de C.V.	$4.8B	22.9×	28.5×	+29.60% (above 0%: growing)	n/m	+51.13% (above 0%: growing)	24.99%	15.91%	Compare
Median of peers	$14.4B	21.6×	17.8×	+18.64%	+86.04%	+111.56%	17.70%	11.84%

All 21 Steel stocks →

ArcelorMittal (MT) key facts

Concern: ArcelorMittal’s revenue for fiscal 2025 (year ended December 2025) was $61.4 billion, down 1.74% from fiscal 2024.
ArcelorMittal (MT) is a Steel company in the Basic Materials sector, traded in the US as an ADR.
As of October 12, 2026, MT traded at $62.95, a market capitalization of $47.5 billion.
ArcelorMittal pays an annual dividend of $0.88 per share, a yield of 1.39%, with a payout ratio of 37.1%.
Return on equity was 5.85% and debt-to-equity 0.25.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.78 (distress zone) for fiscal 2025.