ArcelorMittal (NL:MT)
:MT
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ArcelorMittal
(MT)
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Rating:58Neutral
Price Target:
€64.00
▲(19.76% Upside)
Action:Reiterated
Date:05/02/26
The score is primarily driven by solid balance-sheet strength but only middling current profitability and weak free-cash-flow conversion. Technicals are mixed (longer-term support but softer near-term momentum), and valuation/dividend metrics look average rather than compelling.
Positive Factors
Conservative capital structure
A low leverage ratio and a large equity base provide durable financial flexibility. This conservative balance sheet helps ArcelorMittal absorb steel-cycle downturns, supports sustained capex and mining integration, and allows strategic investments or opportunistic M&A without immediate refinancing pressure.
Negative Factors
Weak free cash flow conversion
Thin free cash flow relative to net income indicates heavy reinvestment and working-capital swings, limiting durable capacity for dividends, buybacks, or debt paydown. Over the medium term this constrains returning capital to shareholders and reduces financial optionality in weaker cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative capital structure
A low leverage ratio and a large equity base provide durable financial flexibility. This conservative balance sheet helps ArcelorMittal absorb steel-cycle downturns, supports sustained capex and mining integration, and allows strategic investments or opportunistic M&A without immediate refinancing pressure.
Read all positive factors
ArcelorMittal (MT) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€45.61B
Dividend Yield1.24%
Average Volume (3M)2.19M
Price to Earnings (P/E)18.6
Beta (1Y)1.36
Revenue Growth-5.78%
EPS Growth142.48%
CountryNL
Employees125,416
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)3.84
Shares Outstanding775,000,000
10 Day Avg. Volume2,532,970
30 Day Avg. Volume2,186,907
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.64
Price to Sales (P/S)0.57
P/FCF Ratio71.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€53.97Price Target Upside0.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)4.71
Revenue Forecast (FY)€66.78B
ArcelorMittal Business Overview & Revenue Model
Company Description
ArcelorMittal S.A., together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include semi-finished flat products, including slabs; finished...
How the Company Makes Money
ArcelorMittal primarily makes money by selling steel products, with revenue largely determined by shipment volumes, product mix (commodity versus higher value-added steels), and prevailing steel price levels in its served markets. Key revenue stre...
ArcelorMittal Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
74
Positive
Cash Flow
47
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.01B | 61.35B | 62.44B | 68.28B | 79.84B | 76.57B |
| Gross Profit | 5.93B | 5.91B | 6.27B | 7.56B | 14.16B | 19.40B |
| EBITDA | 6.64B | 6.54B | 7.05B | 8.74B | 14.16B | 19.40B |
| Net Income | 2.92B | 3.15B | 1.34B | 919.00M | 9.30B | 14.96B |
Balance Sheet | ||||||
| Total Assets | 98.27B | 97.71B | 89.39B | 93.92B | 94.55B | 90.51B |
| Cash, Cash Equivalents and Short-Term Investments | 4.36B | 5.48B | 6.40B | 7.69B | 9.41B | 4.37B |
| Total Debt | 13.68B | 13.41B | 11.56B | 10.68B | 11.65B | 8.40B |
| Total Liabilities | 41.06B | 41.17B | 38.10B | 37.85B | 38.96B | 39.17B |
| Stockholders Equity | 55.19B | 54.47B | 49.22B | 53.96B | 53.15B | 49.11B |
Cash Flow | ||||||
| Free Cash Flow | 531.20M | 490.20M | 447.00M | 3.03B | 6.74B | 6.90B |
| Operating Cash Flow | 5.35B | 5.00B | 4.85B | 7.64B | 10.20B | 9.90B |
| Investing Cash Flow | -6.34B | -4.74B | -4.99B | -5.85B | -4.48B | -340.00M |
| Financing Cash Flow | -406.39M | -1.84B | -680.00M | -3.67B | -477.00M | -10.90B |
ArcelorMittal Technical Analysis
Positive
53.44
Price Trends
51.31
Positive
49.86
Positive
41.63
Positive
Market Momentum
2.53
Negative
71.56
Negative
94.04
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:MT, the sentiment is Positive. The current price of 53.44 is below the 20-day moving average (MA) of 55.40, above the 50-day MA of 51.31, and above the 200-day MA of 41.63, indicating a bullish trend. The MACD of 2.53 indicates Negative momentum. The RSI at 71.56 is Negative, neither overbought nor oversold. The STOCH value of 94.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:MT.
ArcelorMittal Peers Comparison
UnderperformOutperform
Sector (55)
NL:MT
ArcelorMittal
61.32
34.89
132.01%
NL:AMG
AMG ADVANCED METALLURGICAL GROUP NV
41.28
22.89
124.51%
NL:APAM
Aperam S.A.
52.60
26.92
104.85%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.