ArcelorMittal Lifts Dividend as Strategic Projects Drive Higher Margins and Growth Outlook

ArcelorMittal ( (NL:MT) ) just unveiled an update.

ArcelorMittal reported 2025 EBITDA of $6.5 billion and net income of $3.2 billion, achieving structurally higher margins with EBITDA per tonne rising to $121 despite market headwinds. The group highlighted stronger safety performance, including fewer fatalities, and continued to execute a three‑year safety transformation program aimed at embedding a unified safety culture across its operations.

The company generated $1.9 billion of investable cash flow, maintained a solid investment‑grade balance sheet with year‑end net debt of $7.9 billion, and secured upgrades from both Moody’s and S&P. Management is raising the base annual dividend to $0.60 per share for 2026, continuing a policy of returning at least half of post‑dividend free cash flow via buybacks, which have cut the diluted share count by 38% since 2020.

Strategic growth projects in Brazil, India, Liberia, Mexico, Europe and the U.S. are expected to add about $1.6 billion of additional EBITDA from 2026 onward, supported by expansions in iron ore, electric arc furnace capacity and high‑value electrical steels. ArcelorMittal is also building a 2.8 GW renewables portfolio by 2028 to help capture rising demand for low‑carbon steel and support a higher‑margin earnings mix.

In Europe, the rollout of CBAM and new tariff‑rate quotas is expected to curb imports, boost capacity utilization and restore profitability, with ArcelorMittal positioned to recapture domestic market share with premium products and service. Globally, the group forecasts world ex‑China apparent steel demand to grow by about 2% in 2026, plans to increase shipments in all regions, and expects 2026 capex of $4.5–$5.0 billion to underpin medium‑ and long‑term growth in steel demand from energy transition, infrastructure, mobility, defence and data‑center investments.

The most recent analyst rating on (NL:MT) stock is a Buy with a EUR57.00 price target. To see the full list of analyst forecasts on ArcelorMittal stock, see the NL:MT Stock Forecast page.

More about ArcelorMittal

ArcelorMittal is the world’s leading integrated steel and mining company, producing a broad range of steel products and mining raw materials for automotive, construction, energy and industrial customers. Listed in New York, Amsterdam, Paris, Luxembourg and Madrid, it has a diversified global footprint with a strong presence in Europe, the Americas, India and Liberia, and is increasingly focused on steels and assets that support the energy transition.

YTD Price Performance: 30.98%

Average Trading Volume: 1,901,753

Technical Sentiment Signal: Buy

Current Market Cap: €38.08B

For detailed information about MT stock, go to TipRanks’ Stock Analysis page.