Financials ArcelorMittal

Equities

MT

LU1598757687

Iron & Steel

Market Closed - Euronext Amsterdam Other stock markets 11:55:00 2026-05-15 am EDT			5-day change	1st Jan Change
52.24 ^EUR	-5.02%		+0.35%	+33.64%

May. 15	Canada Court Issues $73 Million Fine Against ArcelorMittal on Environmental Violations	DJ
May. 14	Finance: Why we only lend to the wealthy

Projected Income Statement: ArcelorMittal

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	76,571	79,844	68,275	62,441	61,352	66,644	69,696	70,810
Change	-	4.27%	-14.49%	-8.54%	-1.74%	8.63%	4.58%	1.6%
EBITDA ¹	19,404	14,161	7,558	7,053	6,541	8,397	10,250	10,438
Change	-	-27.02%	-46.63%	-6.68%	-7.26%	28.37%	22.07%	1.84%
EBIT ¹	16,881	11,581	2,340	3,310	3,628	5,054	6,737	6,764
Change	-	-31.4%	-79.79%	41.45%	9.61%	39.3%	33.3%	0.41%
Interest Paid ¹	-278	-213	-145	-110	-296	-414.4	-356	-331.3
Earnings before Tax (EBT) ¹	18,025	11,255	1,260	2,915	3,602	4,577	6,441	6,574
Change	-	-37.56%	-88.8%	131.35%	23.57%	27.06%	40.74%	2.06%
Net income ¹	14,956	9,302	919	1,339	3,152	3,512	4,962	5,054
Change	-	-37.8%	-90.12%	45.7%	135.4%	11.44%	41.26%	1.85%
Announcement Date	2/10/22	2/9/23	2/8/24	2/6/25	2/5/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	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	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	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	14,971	15,457	16,969	16,933	17,448	17,482	18,052	17,872	18,079	18,108
Change	-	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%	-4.38%	3.25%	9.78%	-0.21%	3.04%	0.2%	3.26%	-1%	1.16%	0.16%
EBITDA ¹	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	1,593	1,679	2,090	2,253	2,346	2,344	2,526	2,491	2,583	-
Change	-	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%	5.64%	5.4%	24.48%	7.81%	4.13%	-0.1%	7.76%	-1.39%	3.69%	-
EBIT ¹	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	327	753	1,233	1,347	1,413	1,423	1,573	1,531	1,552	1,575
Change	-	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%	-39.89%	130.28%	63.77%	9.24%	4.9%	0.68%	10.54%	-2.63%	1.34%	1.5%
Charge d'intérêts ¹	-76	-62	-49	-51	-53	-37	-72	-64	-47	-31	-	-63	-7	-8	-32	-48	-73	-84	-91	-	-77.25	-90.25	-89.75	-76	-83	-76	-75	-
Earnings before Tax (EBT) ¹	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	-8	717	1,211	1,327	1,389	1,376	1,539	1,511	1,558	1,620
Change	-	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%	-	-	-101.58%	9,062.5%	68.87%	9.63%	4.64%	-0.95%	11.85%	-1.78%	3.11%	3.95%
Net income ¹	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	177	575	914.3	1,035	1,090	1,079	1,207	1,185	1,223	1,260
Change	-	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%	-53.05%	224.86%	59.01%	13.25%	5.29%	-1%	11.87%	-1.84%	3.16%	3.02%
Announcement Date	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	7/31/25	11/6/25	2/5/26	4/30/26	-	-	-	-	-	-	-	-

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	7/31/25

¹USD in Million

Estimates

Forecast Balance Sheet: ArcelorMittal

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	4,030	2,236	2,898	5,079	7,931	7,544	6,105	4,609
Change	-	-44.52%	29.61%	75.26%	56.15%	-4.88%	-19.07%	-24.5%
Announcement Date	2/10/22	2/9/23	2/8/24	2/6/25	2/5/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: ArcelorMittal

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	3,008	3,468	4,613	4,405	4,337	4,705	4,622	4,592
Change	-	15.29%	33.02%	-4.51%	-1.54%	8.49%	-1.77%	-0.65%
Free Cash Flow (FCF) ¹	6,897	6,735	3,032	447	471	1,496	2,939	3,210
Change	-	-2.35%	-54.98%	-85.26%	5.37%	217.71%	96.4%	9.24%
Announcement Date	2/10/22	2/9/23	2/8/24	2/6/25	2/5/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: ArcelorMittal

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	25.34%	17.74%	11.07%	11.3%	10.66%	12.6%	14.71%	14.74%
EBIT Margin (%)	22.05%	14.5%	3.43%	5.3%	5.91%	7.58%	9.67%	9.55%
EBT Margin (%)	23.54%	14.1%	1.85%	4.67%	5.87%	6.87%	9.24%	9.28%
Net margin (%)	19.53%	11.65%	1.35%	2.14%	5.14%	5.27%	7.12%	7.14%
FCF margin (%)	9.01%	8.44%	4.44%	0.72%	0.77%	2.25%	4.22%	4.53%
FCF / Net Income (%)	46.12%	72.4%	329.92%	33.38%	14.94%	42.6%	59.23%	63.53%
Profitability
ROA	17.33%	10.05%	5.16%	1.46%	3.37%	3.22%	4.61%	4.77%
ROE	34.23%	18.19%	8.9%	2.6%	6.08%	6.32%	8.25%	8.3%
Financial Health
Leverage (Debt/EBITDA)	0.21x	0.16x	0.38x	0.72x	1.21x	0.9x	0.6x	0.44x
Debt / Free cash flow	0.58x	0.33x	0.96x	11.36x	16.84x	5.04x	2.08x	1.44x
Capital Intensity
CAPEX / Current Assets (%)	3.93%	4.34%	6.76%	7.05%	7.07%	7.06%	6.63%	6.49%
CAPEX / EBITDA (%)	15.5%	24.49%	61.03%	62.46%	66.3%	56.04%	45.1%	44%
CAPEX / FCF (%)	43.61%	51.49%	152.14%	985.46%	920.81%	314.44%	157.28%	143.05%
Items per share
Cash flow per share ¹	8.94	11.16	9.047	6.134	6.277	8.129	9.955	11.06
Change	-	24.87%	-18.95%	-32.2%	2.33%	29.51%	22.46%	11.14%
Dividend per Share ¹	0.38	0.4	0.5	0.55	-	0.6258	0.6701	0.6965
Change	-	5.26%	25%	10%	-	-	7.08%	3.93%
Book Value Per Share ¹	53.9	66	65.89	64.05	71.38	75.86	82.51	88.72
Change	-	22.44%	-0.17%	-2.79%	11.46%	6.27%	8.76%	7.53%
EPS ¹	13.49	10.18	1.09	1.69	4.11	4.611	6.738	6.945
Change	-	-24.54%	-89.29%	55.05%	143.2%	12.2%	46.11%	3.08%
Nbr of stocks (in thousands)	911,415	816,000	838,000	785,388	760,600	761,126	761,126	761,126
Announcement Date	2/10/22	2/9/23	2/8/24	2/6/25	2/5/26	-	-	-