Financials ArcelorMittal

Equities

MT

LU1598757687

Iron & Steel

Market Closed - Euronext Amsterdam 16:35:24 12/06/2024 BST 5-day change 1st Jan Change
22.52 EUR -0.66% Intraday chart for ArcelorMittal -3.60% -12.29%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 17,748 24,596 29,165 21,461 23,748 20,146 - -
Enterprise Value (EV) 1 27,093 30,976 33,195 23,697 26,646 24,214 24,302 23,588
P/E ratio -7.25 x -36 x 2.37 x 2.58 x 26 x 5.75 x 4.7 x 4.28 x
Yield 1.71% 1.3% 1.19% 1.52% 1.76% 2.14% 2.25% 2.42%
Capitalization / Revenue 0.25 x 0.46 x 0.38 x 0.27 x 0.35 x 0.31 x 0.31 x 0.3 x
EV / Revenue 0.38 x 0.58 x 0.43 x 0.3 x 0.39 x 0.37 x 0.37 x 0.35 x
EV / EBITDA 5.22 x 7.2 x 1.71 x 1.67 x 3.53 x 3.25 x 2.93 x 2.69 x
EV / FCF 11.1 x 18.9 x 4.81 x 3.52 x 8.79 x 19.2 x 14.1 x 10.2 x
FCF Yield 9.02% 5.3% 20.8% 28.4% 11.4% 5.2% 7.11% 9.85%
Price to Book 0.46 x 0.69 x 0.59 x 0.4 x 0.43 x 0.35 x 0.32 x 0.3 x
Nbr of stocks (in thousands) 1,012,004 1,066,637 911,415 816,000 838,000 819,272 - -
Reference price 2 17.54 23.06 32.00 26.30 28.34 24.43 24.43 24.43
Announcement Date 06/02/20 11/02/21 10/02/22 09/02/23 08/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 70,615 53,270 76,571 79,844 68,275 65,129 65,966 67,413
EBITDA 1 5,195 4,301 19,404 14,161 7,558 7,455 8,297 8,755
EBIT 1 -627 2,110 16,881 11,581 2,340 4,467 5,050 5,520
Operating Margin -0.89% 3.96% 22.05% 14.5% 3.43% 6.86% 7.66% 8.19%
Earnings before Tax (EBT) 1 -1,932 1,088 18,025 11,255 1,260 4,252 5,070 5,428
Net income 1 -2,454 -733 14,956 9,302 919 3,346 3,956 4,289
Net margin -3.48% -1.38% 19.53% 11.65% 1.35% 5.14% 6% 6.36%
EPS 2 -2.420 -0.6400 13.49 10.18 1.090 4.251 5.193 5.708
Free Cash Flow 1 2,445 1,643 6,897 6,735 3,032 1,260 1,728 2,323
FCF margin 3.46% 3.08% 9.01% 8.44% 4.44% 1.93% 2.62% 3.45%
FCF Conversion (EBITDA) 47.06% 38.2% 35.54% 47.56% 40.12% 16.9% 20.83% 26.54%
FCF Conversion (Net income) - - 46.12% 72.4% 329.92% 37.66% 43.67% 54.17%
Dividend per Share 2 0.3000 0.3000 0.3800 0.4000 0.5000 0.5226 0.5486 0.5912
Announcement Date 06/02/20 11/02/21 10/02/22 09/02/23 08/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 20,229 20,806 21,836 22,142 18,975 16,891 18,501 18,606 16,616 14,552 16,282 16,778 16,015 16,312 17,273
EBITDA 1 6,058 5,052 5,080 5,163 2,660 1,258 1,822 2,605 1,865 1,266 1,956 1,944 1,808 1,814 1,971
EBIT 1 5,468 4,340 4,433 4,494 2,032 622 1,192 1,925 1,203 -1,980 1,072 1,046 958.5 1,059 1,387
Operating Margin 27.03% 20.86% 20.3% 20.3% 10.71% 3.68% 6.44% 10.35% 7.24% -13.61% 6.58% 6.23% 5.99% 6.49% 8.03%
Earnings before Tax (EBT) 1 5,722 4,781 4,801 4,836 1,426 192 1,329 2,138 1,233 -3,440 1,171 1,011 936.6 1,310 1,281
Net income 1 4,621 4,045 4,125 3,923 993 261 1,096 1,860 929 -2,966 938 773.3 822.1 815.8 1,013
Net margin 22.84% 19.44% 18.89% 17.72% 5.23% 1.55% 5.92% 10% 5.59% -20.38% 5.76% 4.61% 5.13% 5% 5.87%
EPS 2 4.160 3.920 4.270 4.240 1.110 0.3000 1.270 2.200 1.100 -3.570 1.160 0.9702 1.042 1.036 1.274
Dividend per Share 2 - 0.3800 - - - 0.4000 - - - 0.5000 - - - 0.4620 -
Announcement Date 11/11/21 10/02/22 05/05/22 28/07/22 10/11/22 09/02/23 04/05/23 27/07/23 09/11/23 08/02/24 02/05/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 9,345 6,380 4,030 2,236 2,898 4,068 4,156 3,441
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.799 x 1.483 x 0.2077 x 0.1579 x 0.3834 x 0.5457 x 0.5008 x 0.3931 x
Free Cash Flow 1 2,445 1,643 6,897 6,735 3,032 1,260 1,728 2,323
ROE (net income / shareholders' equity) -6.09% -1.91% 34.2% 18.2% 8.9% 6% 6.69% 6.75%
ROA (Net income/ Total Assets) -2.74% -0.86% 17.3% 10.1% 5.16% 3.76% 4.46% 4.96%
Assets 1 89,578 84,936 86,282 92,530 17,793 88,924 88,727 86,459
Book Value Per Share 2 38.00 33.60 53.90 66.00 65.90 70.40 76.10 81.90
Cash Flow per Share 2 5.940 3.580 8.940 11.20 9.050 6.850 7.470 8.390
Capex 1 3,572 2,439 3,008 3,468 4,613 4,852 4,853 4,762
Capex / Sales 5.06% 4.58% 3.93% 4.34% 6.76% 7.45% 7.36% 7.06%
Announcement Date 06/02/20 11/02/21 10/02/22 09/02/23 08/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
24.43 USD
Average target price
34.16 USD
Spread / Average Target
+39.85%
Consensus
  1. Stock Market
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