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ArcelorMittal
(MT)
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Rating:62Neutral
Price Target:
€57.00
▼(-8.89% Downside)
Action:Reiterated
Date:07/31/26
The score is anchored by mixed financial performance: strong TTM revenue rebound and a solid, moderately levered balance sheet are offset by materially weak cash conversion (negative free cash flow) and only mid-cycle margins. Technicals add support because price is above key moving averages, while valuation is only average with a moderate P/E and low dividend yield.
Positive Factors
Integrated steel and mining platform
The combination of steelmaking, mining, and downstream finishing gives ArcelorMittal multiple earnings levers across the value chain. Internal raw-material production can reduce exposure to some third-party input costs, while specialized products and processing may support stronger customer relationships and mix.
Negative Factors
Negative free cash flow
Negative free cash flow means operating cash is currently being absorbed by capital spending and/or working-capital needs rather than converted into discretionary funds. Persistently weak conversion would reduce flexibility for investment, shareholder returns, debt reduction, and responses to downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated steel and mining platform
The combination of steelmaking, mining, and downstream finishing gives ArcelorMittal multiple earnings levers across the value chain. Internal raw-material production can reduce exposure to some third-party input costs, while specialized products and processing may support stronger customer relationships and mix.
Read all positive factors
ArcelorMittal (MT) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€42.04B
Dividend Yield1.4%
Average Volume (3M)1.50M
Price to Earnings (P/E)26.7
Beta (1Y)1.41
Revenue Growth-3.37%
EPS Growth-31.63%
CountryNL
Employees125,554
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)2.39
Shares Outstanding775,000,000
10 Day Avg. Volume1,465,335
30 Day Avg. Volume1,499,119
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
€69.11Price Target Upside10.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)2.61
Revenue Forecast (FY)€67.08B
ArcelorMittal Business Overview & Revenue Model
Company Description
ArcelorMittal S.A., together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot-...
How the Company Makes Money
ArcelorMittal makes money primarily by producing and selling steel and related products, supplemented by earnings from its mining segment and value-added downstream offerings.
1) Steel product sales (core revenue stream)
- The majority of revenue...
ArcelorMittal Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.85B | 61.35B | 62.44B | 68.28B | 79.84B | 76.57B |
| Gross Profit | 6.02B | 5.91B | 6.27B | 7.56B | 14.16B | 19.40B |
| EBITDA | 7.36B | 6.54B | 7.05B | 8.74B | 14.16B | 19.40B |
| Net Income | 1.81B | 3.15B | 1.34B | 919.00M | 9.30B | 14.96B |
Balance Sheet | ||||||
| Total Assets | 99.13B | 97.71B | 89.39B | 93.92B | 94.55B | 90.51B |
| Cash, Cash Equivalents and Short-Term Investments | 4.90B | 5.48B | 6.40B | 7.69B | 9.41B | 4.37B |
| Total Debt | 14.42B | 13.41B | 11.56B | 10.68B | 11.65B | 8.40B |
| Total Liabilities | 42.32B | 41.17B | 38.10B | 37.85B | 38.96B | 39.17B |
| Stockholders Equity | 54.81B | 54.47B | 49.22B | 53.96B | 53.15B | 49.11B |
Cash Flow | ||||||
| Free Cash Flow | -1.39B | 490.20M | 447.00M | 3.03B | 6.74B | 6.90B |
| Operating Cash Flow | 4.87B | 5.00B | 4.85B | 7.64B | 10.20B | 9.90B |
| Investing Cash Flow | -7.37B | -4.74B | -4.99B | -5.85B | -4.48B | -340.00M |
| Financing Cash Flow | 773.10M | -1.84B | -680.00M | -3.67B | -477.00M | -10.90B |
ArcelorMittal Technical Analysis
Negative
62.56
Price Trends
61.80
Negative
59.86
Negative
54.71
Positive
Market Momentum
-1.69
Negative
39.18
Neutral
62.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:MT, the sentiment is Negative. The current price of 62.56 is above the 20-day moving average (MA) of 58.40, above the 50-day MA of 61.80, and above the 200-day MA of 54.71, indicating a neutral trend. The MACD of -1.69 indicates Negative momentum. The RSI at 39.18 is Neutral, neither overbought nor oversold. The STOCH value of 62.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:MT.
ArcelorMittal Risk Analysis
ArcelorMittal disclosed 37 risk factors in its most recent earnings report. ArcelorMittal reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ArcelorMittal Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | €42.04B | 26.67 | 3.31% | 0.92% | -3.37% | -31.63% | |
61 Neutral | €4.45B | 29.41 | 6.21% | 2.79% | 0.24% | 2.12% | |
59 Neutral | €2.67B | 21.44 | 3.94% | 5.27% | -3.89% | -33.94% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
43 Neutral | €906.81M | 241.74 | 0.68% | 1.61% | 11.82% | -51.11% | |
42 Neutral | €81.89M | -4.64 | -7.51% | 1.91% | 83.51% | 53.79% |
* General Sector Average
NL:MT
ArcelorMittal
56.52
23.62
71.81%
NL:AALB
Aalberts Industries N.V.
41.18
14.70
55.51%
NL:AMG
AMG ADVANCED METALLURGICAL GROUP NV
24.88
-5.59
-18.35%
NL:APAM
Aperam S.A.
37.56
6.61
21.36%
NL:SIFG
Sif Holding N.V.
2.74
-4.48
-62.05%
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.