ArcelorMittal S.A.

Steel · Basic Materials

Also trades as: AMSYF · MT.AS

Price

$72.20

+1.09 (+1.53%)

Market Cap

$54.95B

Exchange

New York Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Good

Stability

Strong

Valuation

Good

Dividends

Weak

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Share count falling — buybacks

−30.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.11B (2021) → 766.0M (2025)

Winston Score History

The full picture

ArcelorMittal is one of the largest steel companies in the world. It makes steel products like flat-rolled steel, long steel, and pipes that are sold to industries including automotive, construction, appliances, and packaging. The company operates mines as well, supplying its own iron ore and coal to feed its steel mills.

ArcelorMittal earns money by selling steel and related products, with revenue tied closely to global steel prices and raw material costs. It operates across more than 60 countries, with major production in Europe, the Americas, and Africa, generating roughly $60–70 billion in annual revenue. Its scale and vertical integration — owning mines alongside mills — give it a cost advantage over smaller rivals. The biggest risk the company faces is the cyclical nature of steel demand: when economies slow down, construction and manufacturing pull back sharply, which squeezes steel prices and profit margins quickly.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+5.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-61.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 years

$14.8B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$14.8B cash & investments at current burn rate

Growth context

ArcelorMittal S.A. is growing revenue at 5% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

6.3%

Modest — 6.3% operating margin

Return on the money invested

ROCE

3.9%

Weak — 3.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+3.6%

Slow sales growth (+3.6% YoY)

Profit growth

EPS YoY

-26.5%

Earnings shrinking (-26.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

299%

Turns 299% of profit into real cash

Spare cash per sale

FCF Margin

-3.1%

Burning cash (-3.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.26

Conservative — low debt load (0.26)

Covers its interest

Interest Cover

6.03x

Adequate interest coverage (6.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

30.2x

Pricey — P/E 30.2

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+14.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (30.2 → 15.9)

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Dividends

Dividend

Dividend Yield

0.76%

Small dividend — 0.76% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-42.9%

Dividend cut (-42.9% YoY) — warning sign

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