Financials ArcelorMittal

Equities

MT

LU1598757687

Iron & Steel

Market Closed - Euronext Amsterdam Other stock markets 16:55:00 05/03/2026 GMT			Pre-market 06:06:58
49.31 ^EUR	-6.79%		48.75	-1.14%

03-05	Mexico to tighten coal mining regulations after deadly accident	RE
03-05	European Stocks Fall Sharply After Wednesday Rebound as Middle East War Escalation Lifts Oil	MT

Projected Income Statement: ArcelorMittal

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	53,270	76,571	79,844	68,275	62,441	61,352	67,246	70,128
Change	-	43.74%	4.27%	-14.49%	-8.54%	-1.74%	9.61%	4.29%
EBITDA ¹	4,301	19,404	14,161	7,558	7,053	6,541	8,778	10,222
Change	-	351.15%	-27.02%	-46.63%	-6.68%	-7.26%	34.2%	16.44%
EBIT ¹	2,110	16,881	11,581	2,340	3,310	3,628	5,404	6,774
Change	-	700.05%	-31.4%	-79.79%	41.45%	9.61%	48.95%	25.35%
Interest Paid ¹	-421	-278	-213	-145	-110	-296	-346.5	-306.7
Earnings before Tax (EBT) ¹	1,088	18,025	11,255	1,260	2,915	3,602	4,853	6,551
Change	-	1,556.71%	-37.56%	-88.8%	131.35%	23.57%	34.74%	34.97%
Net income ¹	-733	14,956	9,302	919	1,339	3,152	3,717	5,061
Change	-	2,140.38%	-37.8%	-90.12%	45.7%	135.4%	17.94%	36.15%
Announcement Date	11/02/21	10/02/22	09/02/23	08/02/24	06/02/25	05/02/26	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	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	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2
Net sales ¹	13,266	14,184	16,193	19,343	20,229	20,806	21,836	22,142	18,975	16,891	18,501	18,606	16,616	14,552	16,282	16,249	15,196	14,714	14,798	15,926	15,657	15,600	16,102	16,915	16,546	17,055	17,929	18,015
Change	-	6.92%	14.16%	19.45%	4.58%	2.85%	4.95%	1.4%	-14.3%	-10.98%	9.53%	0.57%	-10.7%	-12.42%	11.89%	-0.2%	-6.48%	-3.17%	0.57%	7.62%	-1.69%	-0.36%	3.22%	5.05%	-2.18%	3.08%	5.12%	0.48%
EBITDA ¹	901	1,726	3,242	5,052	6,058	5,052	5,080	5,163	2,660	1,258	1,822	2,605	1,865	1,266	1,956	1,862	1,581	1,654	1,580	1,860	1,508	1,519	1,857	2,367	2,216	2,519	-	-
Change	-	91.56%	87.83%	55.83%	19.91%	-16.61%	0.55%	1.63%	-48.48%	-52.71%	44.83%	42.97%	-28.41%	-32.12%	54.5%	-4.81%	-15.09%	4.62%	-4.47%	17.72%	-18.92%	0.75%	22.2%	27.51%	-6.41%	13.69%	-	-
EBIT ¹	718	1,998	2,641	4,432	5,468	4,340	4,433	4,494	2,032	622	1,192	1,925	1,203	-1,980	1,072	1,046	663	529	825	916	544	724.1	996.7	1,342	1,335	1,555	1,583	1,602
Change	-	178.27%	32.18%	67.82%	23.38%	-20.63%	2.14%	1.38%	-54.78%	-69.39%	91.64%	61.49%	-37.51%	-264.59%	154.14%	-2.43%	-36.62%	-20.21%	55.95%	11.03%	-40.61%	33.1%	37.65%	34.61%	-0.48%	16.47%	1.77%	1.2%
Charge d'intérêts ¹	-106	-88	-91	-76	-62	-49	-51	-53	-37	-72	-64	-47	-31	-	-63	-7	-8	-32	-48	-73	-84	-86	-85	-89	-89.5	-88	-	-
Earnings before Tax (EBT) ¹	562	1,647	2,809	4,713	5,722	4,781	4,801	4,836	1,426	192	1,329	2,138	1,233	-3,440	1,171	787	614	343	991	-	505	542.7	860	1,253	1,231	1,435	-	-
Change	-	193.06%	70.55%	67.78%	21.41%	-16.45%	0.42%	0.73%	-70.51%	-86.54%	592.19%	60.87%	-42.33%	-378.99%	134.04%	-32.79%	-21.98%	-44.14%	188.92%	-	1.5%	7.47%	58.46%	45.75%	-1.81%	16.6%	-	-
Net income ¹	-261	1,207	2,285	4,005	4,621	4,045	4,125	3,923	993	261	1,096	1,860	929	-2,966	938	504	287	-390	805	1,793	377	407.4	659.9	1,034	963.4	1,214	1,196	1,211
Change	-	562.45%	89.31%	75.27%	15.38%	-12.46%	1.98%	-4.9%	-74.69%	-73.72%	319.92%	69.71%	-50.05%	-419.27%	131.63%	-46.27%	-43.06%	-235.89%	306.41%	122.73%	-78.97%	8.07%	61.97%	56.73%	-6.86%	26.04%	-1.49%	1.24%
Announcement Date	05/11/20	11/02/21	06/05/21	29/07/21	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	01/08/24	07/11/24	06/02/25	30/04/25	31/07/25	06/11/25	-	-	-	-	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2025 S1
Net sales ¹	30,724
Change	-
EBITDA ¹	3,440
Change	-
EBIT ¹	1,741
Change	-
Charge d'intérêts	-
Earnings before Tax (EBT)	-
Change	-
Net income ¹	2,598
Change	-
Announcement Date	31/07/25

¹USD in Million

Estimates

Forecast Balance Sheet: ArcelorMittal

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	6,380	4,030	2,236	2,898	5,079	7,931	7,295	6,368
Change	-	-36.83%	-44.52%	29.61%	75.26%	56.15%	-5.26%	-12.71%
Announcement Date	11/02/21	10/02/22	09/02/23	08/02/24	06/02/25	05/02/26	-	-

¹USD in Million

Estimates

Cash Flow Forecast: ArcelorMittal

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	2,439	3,008	3,468	4,613	4,405	4,337	4,610	4,584
Change	-	23.33%	15.29%	33.02%	-4.51%	-1.54%	-2.5%	-0.55%
Free Cash Flow (FCF) ¹	1,643	6,897	6,735	3,032	447	471	1,532	2,831
Change	-	319.78%	-2.35%	-54.98%	-85.26%	5.37%	801.11%	84.74%
Announcement Date	11/02/21	10/02/22	09/02/23	08/02/24	06/02/25	05/02/26	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: ArcelorMittal

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	8.07%	25.34%	17.74%	11.07%	11.3%	10.66%	13.05%	14.58%
EBIT Margin (%)	3.96%	22.05%	14.5%	3.43%	5.3%	5.91%	8.04%	9.66%
EBT Margin (%)	2.04%	23.54%	14.1%	1.85%	4.67%	5.87%	7.22%	9.34%
Net margin (%)	-1.38%	19.53%	11.65%	1.35%	2.14%	5.14%	5.53%	7.22%
FCF margin (%)	3.08%	9.01%	8.44%	4.44%	0.72%	0.77%	2.28%	4.04%
FCF / Net Income (%)	-224.15%	46.12%	72.4%	329.92%	33.38%	14.94%	41.22%	55.94%
Profitability
ROA	-0.86%	17.33%	10.05%	5.16%	1.46%	3.37%	3.67%	5.09%
ROE	-1.91%	34.23%	18.19%	8.9%	2.6%	6.08%	6.75%	8.36%
Financial Health
Leverage (Debt/EBITDA)	1.48x	0.21x	0.16x	0.38x	0.72x	1.21x	0.83x	0.62x
Debt / Free cash flow	3.88x	0.58x	0.33x	0.96x	11.36x	16.84x	4.76x	2.25x
Capital Intensity
CAPEX / Current Assets (%)	4.58%	3.93%	4.34%	6.76%	7.05%	7.07%	6.85%	6.54%
CAPEX / EBITDA (%)	56.71%	15.5%	24.49%	61.03%	62.46%	66.3%	52.51%	44.85%
CAPEX / FCF (%)	148.45%	43.61%	51.49%	152.14%	985.46%	920.81%	300.81%	161.94%
Items per share
Cash flow per share ¹	3.581	8.94	11.16	9.047	6.134	6.277	7.666	9.885
Change	-	149.66%	24.87%	-18.95%	-32.2%	2.33%	26.61%	28.95%
Dividend per Share ¹	0.3	0.38	0.4	0.5	0.55	0.5643	0.6114	0.6543
Change	-	26.67%	5.26%	25%	10%	2.6%	8.34%	7.03%
Book Value Per Share ¹	33.58	53.9	66	65.89	64.05	71.38	76.06	82.47
Change	-	60.52%	22.44%	-0.17%	-2.79%	11.46%	8.34%	8.44%
EPS ¹	-0.64	13.49	10.18	1.09	1.69	4.11	4.887	6.723
Change	-	2,207.81%	-24.54%	-89.29%	55.05%	143.2%	9.87%	37.57%
Nbr of stocks (in thousands)	1,066,637	911,415	816,000	838,000	785,388	760,600	760,600	760,600
Announcement Date	11/02/21	10/02/22	09/02/23	08/02/24	06/02/25	05/02/26	-	-