Financials ArcelorMittal

Equities

MT

LU1598757687

Iron & Steel

Market Closed - Euronext Amsterdam Other stock markets 11:35:08 2025-05-20 am EDT			5-day change	1st Jan Change
27.62 ^EUR	+0.25%		-1.15%	+23.14%

May. 15	ArcelorMittal Confirms EUR1.2 Billion Electric Arc Furnace Investment in France	MT
May. 15	ArcelorMittal to invest 1.2 billion euros at French site in Dunkirk	RE

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	60,415	62,771	64,060
Change	-	43.74%	4.27%	-14.49%	-8.54%	-3.24%	3.9%	2.05%
EBITDA ¹	4,301	19,404	14,161	7,558	7,053	7,084	8,104	8,423
Change	-	351.15%	-27.02%	-46.63%	-6.68%	0.44%	14.39%	3.94%
EBIT ¹	2,110	16,881	11,581	2,340	3,310	4,125	5,015	5,196
Change	-	700.05%	-31.4%	-79.79%	41.45%	24.64%	21.56%	3.61%
Interest Paid ¹	-421	-278	-213	-145	-110	-248.5	-305	-338
Earnings before Tax (EBT) ¹	1,088	18,025	11,255	1,260	2,915	3,817	4,665	5,100
Change	-	1,556.71%	-37.56%	-88.8%	131.35%	30.94%	22.21%	9.33%
Net income ¹	-733	14,956	9,302	919	1,339	2,959	3,613	3,960
Change	-	2,140.38%	-37.8%	-90.12%	45.7%	120.97%	22.12%	9.59%
Announcement Date	2/11/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	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
Net sales ¹	14,844	10,976	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	15,492	15,038	15,162	16,274	16,431	16,183	16,392
Change	-	-26.06%	20.86%	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%	4.69%	-2.93%	0.83%	7.33%	0.97%	-1.51%	1.29%
EBITDA ¹	967	707	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	1,973	1,837	1,718	1,911	2,020	2,055	2,053
Change	-	-26.89%	27.44%	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%	24.89%	-6.88%	-6.48%	11.2%	5.74%	1.72%	-0.12%
EBIT ¹	-353	-253	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	1,136	1,071	1,083	1,217	1,327	1,362	1,359
Change	-	28.33%	383.79%	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%	37.65%	-5.68%	1.07%	12.46%	9%	2.62%	-0.19%
Charge d'intérêts ¹	-115	-112	-106	-88	-91	-76	-62	-49	-51	-53	-37	-72	-64	-47	-31	-	-63	-7	-8	-32	-48	-60	-65	-65	-	-	-	-
Earnings before Tax (EBT) ¹	-777	-344	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	898.3	1,009	1,142	1,062	1,259	1,294	1,291
Change	-	55.73%	263.37%	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%	-9.35%	12.31%	13.14%	-6.96%	18.54%	2.76%	-0.2%
Net income ¹	-1,120	-559	-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	680.3	680.3	590.4	816.4	967.8	994.4	992.5
Change	-	50.09%	53.31%	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%	-15.49%	-0.01%	-13.21%	38.28%	18.54%	2.76%	-0.2%
Announcement Date	5/7/20	7/30/20	11/5/20	2/11/21	5/6/21	7/29/21	11/11/21	2/10/22	5/5/22	7/28/22	11/10/22	2/9/23	5/4/23	7/27/23	11/9/23	2/8/24	5/2/24	8/1/24	11/7/24	2/6/25	4/30/25	-	-	-	-	-	-	-

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	5,181	5,244	5,049
Change	-	-36.83%	-44.52%	29.61%	75.26%	2.01%	1.22%	-3.72%
Announcement Date	2/11/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

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	4,651	4,647	4,609
Change	-	23.33%	15.29%	33.02%	-4.51%	5.57%	-0.09%	-0.82%
Free Cash Flow (FCF) ¹	1,643	6,897	6,735	3,032	447	1,063	1,573	1,836
Change	-	319.78%	-2.35%	-54.98%	-85.26%	137.76%	48.01%	16.74%
Announcement Date	2/11/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

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%	11.73%	12.91%	13.15%
EBIT Margin (%)	3.96%	22.05%	14.5%	3.43%	5.3%	6.83%	7.99%	8.11%
EBT Margin (%)	2.04%	23.54%	14.1%	1.85%	4.67%	6.32%	7.43%	7.96%
Net margin (%)	-1.38%	19.53%	11.65%	1.35%	2.14%	4.9%	5.76%	6.18%
FCF margin (%)	3.08%	9.01%	8.44%	4.44%	0.72%	1.76%	2.51%	2.87%
FCF / Net Income (%)	-224.15%	46.12%	72.4%	329.92%	33.38%	35.92%	43.54%	46.37%
Profitability
ROA	-0.86%	17.33%	10.05%	5.16%	1.46%	3.03%	3.88%	4.14%
ROE	-1.91%	34.23%	18.19%	8.9%	2.6%	5.8%	6.76%	6.9%
Financial Health
Leverage (Debt/EBITDA)	1.48x	0.21x	0.16x	0.38x	0.72x	0.73x	0.65x	0.6x
Debt / Free cash flow	3.88x	0.58x	0.33x	0.96x	11.36x	4.87x	3.33x	2.75x
Capital Intensity
CAPEX / Current Assets (%)	4.58%	3.93%	4.34%	6.76%	7.05%	7.7%	7.4%	7.19%
CAPEX / EBITDA (%)	56.71%	15.5%	24.49%	61.03%	62.46%	65.65%	57.34%	54.71%
CAPEX / FCF (%)	148.45%	43.61%	51.49%	152.14%	985.46%	437.58%	295.38%	250.96%
Items per share
Cash flow per share ¹	3.581	8.94	11.16	9.047	6.134	6.902	7.253	8.142
Change	-	149.66%	24.87%	-18.95%	-32.2%	12.53%	5.08%	12.26%
Dividend per Share ¹	0.3	0.38	0.4	0.5	0.55	0.557	0.5764	0.5964
Change	-	26.67%	5.26%	25%	10%	1.28%	3.47%	3.48%
Book Value Per Share ¹	33.58	53.9	66	65.89	64.05	68.9	73.42	78.77
Change	-	60.52%	22.44%	-0.17%	-2.79%	7.58%	6.55%	7.29%
EPS ¹	-0.64	13.49	10.18	1.09	1.69	3.993	4.954	5.352
Change	-	2,207.81%	-24.54%	-89.29%	55.05%	136.28%	24.06%	8.03%
Nbr of stocks (in thousands)	1,066,637	911,415	816,000	838,000	785,388	768,547	768,547	768,547
Announcement Date	2/11/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-