Cash flow ArcelorMittal

Equities

MT

LU1598757687

Iron & Steel

Real-time Euronext Amsterdam Other stock markets 05:27:49 2025-01-13 am EST			5-day change	1st Jan Change
21.23 ^EUR	-1.85%		-1.35%	-5.35%

Jan. 10	ARCELORMITTAL : Goldman Sachs reaffirms its Neutral rating	ZD
Jan. 10	ARCELORMITTAL : Deutsche Bank keeps its Buy rating	ZD

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Published financial data: ARCELORMITTAL

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	70.62B	53.27B	76.57B	79.84B	68.28B
Total Revenues	70.62B	53.27B	76.57B	79.84B	68.28B
Cost of Goods Sold, Total	66.16B	48.42B	57.43B	65.83B	62.5B
Gross Profit	4.46B	4.84B	19.14B	14.02B	5.78B
Selling General & Admin Expenses, Total	2.46B	2.1B	2.15B	2.02B	2.34B
R&D Expenses	301M	245M	270M	286M	299M
Impairment of Oil, Gas & Mineral Properties - (IS)	-	-	-	-	-
Other Operating Expenses, Total	2.76B	2.35B	2.42B	2.31B	2.64B
Operating Income	1.7B	2.5B	16.72B	11.71B	3.14B
Interest Expense, Total	-695M	-477M	-357M	-401M	-715M
Interest And Investment Income	88M	56M	79M	188M	570M
Net Interest Expenses	-607M	-421M	-278M	-213M	-145M
Income (Loss) On Equity Invest.	347M	234M	2.2B	1.32B	1.18B
Currency Exchange Gains (Loss)	4M	107M	-155M	191M	-48M
Other Non Operating Income (Expenses)	-573M	-319M	-204M	-261M	-423M
EBT, Excl. Unusual Items	866M	2.1B	18.28B	12.74B	3.71B
Restructuring Charges	-	-342M	-	-55M	-
Merger & Related Restructuring Charges	-	-	-	-7M	-4M
Impairment of Goodwill	-	-	-	-	-194M
Gain (Loss) On Sale Of Investments	-	-	-	-	-1.4B
Asset Writedown	-2.73B	-371M	218M	-1.53B	-844M
Legal Settlements	-	-	-163M	-	-
Other Unusual Items	-71M	-298M	-314M	100M	-
EBT, Incl. Unusual Items	-1.93B	1.09B	18.02B	11.26B	1.26B
Income Tax Expense	459M	1.67B	2.46B	1.72B	238M
Earnings From Continuing Operations	-2.39B	-578M	15.56B	9.54B	1.02B
Net Income to Company	-2.39B	-578M	15.56B	9.54B	1.02B
Minority Interest	-63M	-155M	-609M	-236M	-103M
Net Income - (IS)	-2.45B	-733M	14.96B	9.3B	919M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	-2.45B	-733M	14.96B	9.3B	919M
Net Income to Common Excl. Extra Items	-2.45B	-733M	14.96B	9.3B	919M
Per Share Items
Net EPS - Basic	-2.42	-0.64	13.53	10.21	1.09
Basic EPS - Continuing Operations	-2.42	-0.64	13.53	10.21	1.09
Basic Weighted Average Shares Outstanding	1.01B	1.14B	1.1B	911M	842M
Net EPS - Diluted	-2.42	-0.64	13.49	10.18	1.09
Diluted EPS - Continuing Operations	-2.42	-0.64	13.49	10.18	1.09
Diluted Weighted Average Shares Outstanding	1.01B	1.14B	1.11B	914M	845M
Normalized Basic EPS	0.47	1.01	9.79	8.48	2.63
Normalized Diluted EPS	0.47	1.01	9.76	8.46	2.62
Dividend Per Share	-	0.3	0.38	0.44	0.5
Payout Ratio	-8.27	-	2.09	3.57	40.15
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	4.42B	5.25B	19.05B	14.1B	5.58B
EBITA	1.79B	2.58B	16.81B	11.8B	3.26B
EBIT	1.7B	2.5B	16.72B	11.71B	3.14B
EBITDAR	4.72B	5.51B	19.28B	14.35B	5.82B
Effective Tax Rate - (Ratio)	-23.76	153.12	13.65	15.26	18.89
Total Current Taxes	786M	839M	2.95B	2.08B	1.01B
Total Deferred Taxes	-327M	827M	-493M	-363M	-770M
Normalized Net Income	478M	1.16B	10.82B	7.73B	2.21B
Interest on Long-Term Debt	98M	66M	33M	34M	55M
Non-Cash Pension Expense	90M	96M	86M	31M	85M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	301M	245M	270M	286M	299M
Net Rental Expense, Total	298M	268M	230M	254M	242M
Imputed Operating Lease Interest Expense	124M	76.71M	63.4M	81.28M	124M
Imputed Operating Lease Depreciation	174M	191M	167M	173M	118M
Stock-Based Comp., Other (Total)	-	30M	35M	38M	39M
Total Stock-Based Compensation	-	30M	35M	38M	39M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	4.87B	5.6B	4.22B	9.3B	7.69B
Total Cash And Short Term Investments	4.87B	5.6B	4.22B	9.3B	7.69B
Accounts Receivable, Total	3.57B	3.07B	5.14B	3.84B	3.66B
Other Receivables	1.56B	1.12B	1.38B	1.64B	1.54B
Notes Receivable	127M	-	-	-	-
Total Receivables	5.25B	4.19B	6.52B	5.48B	5.2B
Inventory	17.3B	12.33B	19.86B	20.09B	18.76B
Prepaid Expenses	696M	486M	566M	732M	658M
Restricted Cash	128M	363M	156M	114M	97M
Other Current Assets, Total	377M	5.01B	3.63B	1.4B	844M
Total Current Assets	28.62B	27.97B	34.94B	37.12B	33.24B
Gross Property Plant And Equipment	67.22B	56.18B	55.16B	54.94B	59.46B
Accumulated Depreciation	-30.99B	-25.56B	-25.08B	-24.77B	-25.81B
Net Property Plant And Equipment	36.23B	30.62B	30.08B	30.17B	33.66B
Long-term Investments	7.3B	9.8B	11.46B	11.88B	10.59B
Goodwill	5.1B	3.99B	3.93B	3.77B	3.91B
Other Intangibles, Total	328M	320M	494M	1.14B	1.19B
Deferred Tax Assets Long-Term	8.68B	7.87B	8.15B	8.55B	9.47B
Other Long-Term Assets, Total	1.65B	1.48B	1.46B	1.92B	1.86B
Total Assets	87.91B	82.05B	90.51B	94.55B	93.92B
Liabilities
Accounts Payable, Total	12.61B	11.52B	15.09B	13.53B	13.6B
Accrued Expenses, Total	2.99B	3.07B	3.58B	3.12B	3.23B
Short-term Borrowings	1.84B	1.65B	888M	1.02B	980M
Current Portion of Long-Term Debt	770M	677M	836M	1.34B	1.12B
Current Portion of Leases	261M	183M	189M	228M	207M
Current Income Taxes Payable	378M	464M	1.27B	318M	297M
Unearned Revenue Current, Total	49M	73M	63M	67M	109M
Other Current Liabilities	2.38B	5.03B	2.25B	2.78B	2.22B
Total Current Liabilities	21.29B	22.67B	24.17B	22.4B	21.77B
Long-Term Debt	10.6B	9.18B	5.8B	8.24B	7.43B
Long-Term Leases	866M	632M	691M	828M	939M
Pension & Other Post Retirement Benefits	7.34B	4.66B	3.77B	2.61B	2.74B
Deferred Tax Liability Non Current	2.33B	1.83B	2.37B	2.67B	2.43B
Other Non Current Liabilities	4.99B	2.84B	2.37B	2.22B	2.54B
Total Liabilities	47.42B	41.82B	39.17B	38.96B	37.85B
Common Stock, Total	364M	393M	350M	312M	303M
Additional Paid In Capital	34.83B	35.25B	31.8B	28.65B	27.18B
Retained Earnings	22.88B	22.1B	36.7B	45.44B	46.26B
Treasury Stock	-602M	-538M	-2.19B	-1.9B	-849M
Comprehensive Income and Other	-18.95B	-18.92B	-17.56B	-19.36B	-18.94B
Total Common Equity	38.52B	38.28B	49.11B	53.15B	53.96B
Minority Interest	1.96B	1.96B	2.24B	2.44B	2.11B
Total Equity	40.48B	40.24B	51.34B	55.59B	56.07B
Total Liabilities And Equity	87.91B	82.05B	90.51B	94.55B	93.92B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.01B	1.08B	911M	805M	819M
ECS Total Common Shares Outstanding	1.01B	1.08B	911M	805M	819M
Book Value / Share	38.06	35.42	53.91	66	65.86
Tangible Book Value	33.09B	33.97B	44.68B	48.25B	48.86B
Tangible Book Value Per Share	32.69	31.43	49.05	59.91	59.64
Total Debt	14.34B	12.32B	8.4B	11.65B	10.68B
Net Debt	9.47B	6.72B	4.19B	2.35B	3B
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.23B	2.95B	2.24B	1.47B	1.51B
Debt Equivalent Oper. Leases	2.38B	2.14B	1.84B	2.03B	1.94B
Minority Interest, Total (Incl. Fin. Div)	1.96B	1.96B	2.24B	2.44B	2.11B
Equity Method Investments, Total	6.53B	6.82B	10.32B	10.76B	10.08B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	5.1B	3.84B	7.14B	6.64B	6.33B
Inventories - Work In Process, Total	4.16B	3.3B	5.1B	5.34B	4.74B
Inventories - Finished Goods, Total	5.82B	3.4B	5.74B	5.91B	5.37B
Inventories - Others	2.21B	1.78B	1.88B	2.2B	2.31B
Land - (BS)	10.9B	10.74B	10.12B	9.48B	10.85B
Machinery, Total	44.63B	36.6B	35.35B	34.13B	35.96B
Full Time Employees	191K	168K	158K	154K	127K
Accumulated Allowance for Doubtful Accounts (Supple)	129M	136M	206M	190M	364M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-2.45B	-733M	14.96B	9.3B	919M
Depreciation & Amortization - CF	2.97B	2.87B	2.43B	2.49B	2.55B
Amortization of Goodwill and Intangible Assets - (CF)	94M	87M	90M	87M	123M
Impairment of Oil, Gas & Mineral Properties - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	3.07B	2.96B	2.52B	2.58B	2.68B
(Gain) Loss From Sale Of Asset	-101M	-1.46B	-104M	-	1.47B
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	1.4B
Asset Writedown & Restructuring Costs	1.93B	-133M	-218M	1.03B	1.04B
(Income) Loss On Equity Investments - (CF)	-347M	-234M	-2.2B	-1.32B	-1.18B
Other Operating Activities, Total	2.71B	3.73B	4.7B	-363M	-400M
Change In Accounts Receivable	964M	-76M	-2.54B	1.13B	307M
Change In Inventories	2.47B	1.79B	-8.65B	-2.06B	1.57B
Change In Accounts Payable	-1.24B	-214M	4.78B	-294M	-271M
Change In Income Taxes	-484M	-705M	-2.13B	-	-
Change in Other Net Operating Assets	-497M	-842M	-1.21B	198M	119M
Cash from Operations	6.02B	4.08B	9.9B	10.2B	7.64B
Capital Expenditure	-3.57B	-2.44B	-3.01B	-3.47B	-4.61B
Sale of Property, Plant, and Equipment	-	-	-	-	718M
Cash Acquisitions	-46M	-	-25M	-939M	-2.52B
Divestitures	514M	497M	-4M	-	254M
Investment in Marketable and Equity Securities, Total	-559M	59M	2.6B	-32M	487M
Other Investing Activities, Total	-161M	-128M	97M	-44M	-170M
Cash from Investing	-3.82B	-2.01B	-340M	-4.48B	-5.85B
Short Term Debt Issued, Total	600M	430M	287M	434M	218M
Long-Term Debt Issued, Total	5.77B	1.56B	147M	3.89B	134M
Total Debt Issued	6.37B	1.99B	434M	4.33B	352M
Short Term Debt Repaid, Total	-1.81B	-1.5B	-1.66B	-1.04B	-1.67B
Long-Term Debt Repaid, Total	-3.62B	-1.91B	-3.93B	-160M	-609M
Total Debt Repaid	-5.44B	-3.41B	-5.59B	-1.2B	-2.28B
Issuance of Common Stock	-	750M	-	-	-
Repurchase of Common Stock	-90M	-500M	-5.17B	-2.94B	-1.21B
Common Dividends Paid	-203M	-	-312M	-332M	-369M
Common & Preferred Stock Dividends Paid	-203M	-	-312M	-332M	-369M
Other Financing Activities, Total	-129M	-326M	-260M	-331M	-162M
Cash from Financing	514M	-1.5B	-10.9B	-477M	-3.67B
Foreign Exchange Rate Adjustments	-22M	163M	-55M	-158M	255M
Miscellaneous Cash Flow Adjustments	10M	-3M	3M	-	-
Net Change in Cash	2.7B	733M	-1.38B	5.08B	-1.61B
Supplemental Items
Cash Interest Paid	723M	604M	479M	440M	788M
Cash Income Tax Paid (Refund)	484M	705M	2.13B	2.94B	977M
Levered Free Cash Flow	4.8B	4.93B	3.52B	6.68B	1.52B
Unlevered Free Cash Flow	5.24B	5.23B	3.74B	6.94B	1.97B
Change In Net Working Capital	-4.68B	-3.12B	6.26B	-467M	-1.91B
Net Debt Issued / Repaid	936M	-1.42B	-5.16B	3.12B	-1.93B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.18	1.84	12.11	7.91	2.08
Return on Total Capital	1.9	2.91	18.61	11.53	2.93
Return On Equity %	-5.65	-1.43	33.99	17.84	1.83
Return on Common Equity	-6.09	-1.91	34.23	18.19	1.72
Margin Analysis
Gross Profit Margin %	6.31	9.1	25	17.55	8.46
SG&A Margin	3.48	3.95	2.81	2.53	3.42
EBITDA Margin %	6.26	9.85	24.88	17.65	8.17
EBITA Margin %	2.53	4.85	21.95	14.77	4.78
EBIT Margin %	2.4	4.69	21.83	14.66	4.6
Income From Continuing Operations Margin %	-3.39	-1.08	20.33	11.95	1.5
Net Income Margin %	-3.48	-1.38	19.53	11.65	1.35
Net Avail. For Common Margin %	-3.48	-1.38	19.53	11.65	1.35
Normalized Net Income Margin	0.68	2.17	14.13	9.68	3.24
Levered Free Cash Flow Margin	6.8	9.26	4.59	8.37	2.23
Unlevered Free Cash Flow Margin	7.42	9.82	4.89	8.69	2.88
Asset Turnover
Asset Turnover	0.79	0.63	0.89	0.86	0.72
Fixed Assets Turnover	1.97	1.59	2.52	2.65	2.14
Receivables Turnover (Average Receivables)	17.65	16.04	18.64	17.78	18.21
Inventory Turnover (Average Inventory)	3.48	3.27	3.57	3.3	3.22
Short Term Liquidity
Current Ratio	1.34	1.23	1.45	1.66	1.53
Quick Ratio	0.47	0.43	0.44	0.66	0.59
Operating Cash Flow to Current Liabilities	0.28	0.18	0.41	0.46	0.35
Days Sales Outstanding (Average Receivables)	20.68	22.81	19.58	20.53	20.05
Days Outstanding Inventory (Average Inventory)	104.93	111.95	102.28	110.74	113.43
Average Days Payable Outstanding	77.39	101.65	74.78	79.08	80.96
Cash Conversion Cycle (Average Days)	48.22	33.11	47.08	52.19	52.52
Long Term Solvency
Total Debt/Equity	35.42	30.62	16.36	20.96	19.05
Total Debt / Total Capital	26.16	23.44	14.06	17.33	16
LT Debt/Equity