MT Stock Analysis: ArcelorMittal | AS
Steel | AS, Netherlands | Market Cap: 41.821m EUR | 12M Return: 69.2% | LU1598757687 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 92.3M
EPS Trend: -72.9%
Qual. Beats: 0
Rev. Trend: -77.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
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 10, 2026, the stock is trading at EUR 57.28 with a total of 1,838,066 shares traded. Over the past week, the price has changed by +0.00%, over one month by -13.76%, over three months by +5.27% and over the past year by +69.21%.
Current recommended Stop Loss: 54.30 (which is 5.2% or 1.4 ATR below the current price).
ArcelorMittal has no consensus analysts rating.
Market Cap USD = 46.8b (41.8b EUR * 1.11996 EUR.USD)
P/E Trailing = 27.3793
P/E Forward = 11.4025
P/S = 0.6654
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 = 57.5b USD (46.8b + Debt 15.5b - CCE 4.90b)
Interest Coverage Ratio = 6.11 (Ebit TTM 3.49b / Interest Expense TTM 571.6m)
EV/FCF = -41.30x (Enterprise Value 57.5b / FCF TTM -1.39b)
FCF Yield = -2.42% (FCF TTM -1.39b / Enterprise Value 57.5b)
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 = 0.58 (Enterprise Value 57.5b / 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 = 8.33% (E(46.8b)/V(62.4b) * Re(10.0%) + D(15.5b)/V(62.4b) * Rd(3.68%) * (1-Tc(0.10)))
Discount Rate = 10.0% (= 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=1.09 | Chg30d=-11.92% | Revisions=-25% | Analysts=4
EPS current Year (2026-12-31): EPS=4.14 | Chg30d=-6.63% | Revisions=-17% | GrowthEPS=+7.6% | GrowthRev=+9.6%
EPS next Year (2027-12-31): EPS=7.29 | Chg30d=-4.92% | Revisions=-17% | GrowthEPS=+76.0% | GrowthRev=+8.3%
[Analyst] Revisions Ratio: -30% (up=2, down=5)