ArcelorMittal (MTS): analysis in plain words
Is ArcelorMittal cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
ArcelorMittal (MTS) is listed on the Madrid Stock Exchange and we classify it in materials and chemicals. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against ArcelorMittal according to those figures, and the questions people ask most about the stock. No buy or sell tips.
ArcelorMittal (MTS) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €55.04 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 27.1x | Price over earnings per share |
| Revenue growth | +5.2% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 2.9% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.8x | Years of operating profit to repay debt |
| Dividend yield | 0.99% | Annual dividend over price |
| Market cap | €41.4 billion | What the stock market values it at |
The ArcelorMittal figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any MTS figure that is not available shows as N/A: we do not estimate it.
How ArcelorMittal makes money
ArcelorMittal makes and sells flat and long steel to automakers, builders, appliance makers and industry in general. It reports by region: Europe, its largest segment, North America, Brazil, India and joint ventures, Sustainable Solutions, and Mining, which extracts iron ore for its own mills and for outside buyers.
Over the last 12 months, ArcelorMittal brought in revenue of $62.8 billion. For every 100 it sells, ArcelorMittal keeps 9.0 after the direct cost of what it sells (gross margin) and 6.3 after all operating costs (operating margin). With 125,554 full-time employees, that is about $501,000 of revenue per employee.
ArcelorMittal against its sector
To know whether a ArcelorMittal figure is high or low you have to put it next to similar companies. This table compares ArcelorMittal with the median of the 10 materials and chemicals companies Fintols covers, with data as of November 4, 2026.
| Figure | ArcelorMittal | materials and chemicals median |
|---|---|---|
| P/E | 27.1x | 28.5x (10) |
| Revenue growth | +5.2% | +9.2% (11) |
| Net margin | 2.9% | 10.7% (11) |
| Dividend yield | 0.99% | 0.99% (11) |
| Net debt / EBITDA | 1.8x | 2.0x (11) |
In short, against the typical materials and chemicals company, ArcelorMittal grows more slowly and earns a thinner margin. By size, ArcelorMittal ranks number 3 of 4 materials and chemicals companies quoted in EUR on Fintols.
The bull case for ArcelorMittal
What works in favour of ArcelorMittal, according to its figures as of November 4, 2026:
- Analysts expect ArcelorMittal earnings to rise: its P/E on the next 12 months of estimated earnings is 9.9x, below the current 27.1x.
The main risk for ArcelorMittal
ArcelorMittal runs on a thin net margin (2.9%, against a materials and chemicals median of 10.7%): a rise in costs can easily wipe out profit.
On top of that: arcelorMittal stock moves much more than the market: its beta is 1.70, so in a broad sell-off it tends to fall further than the index.
And, like the rest of materials and chemicals, ArcelorMittal is exposed to the price of what it sells (metals, chemicals), which depends on the world economy and is out of its control.
Frequently asked questions about ArcelorMittal
Is it a good time to buy ArcelorMittal stock?
Fintols does not tell you whether to buy or sell ArcelorMittal, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, ArcelorMittal stock trades at €55.04, 20% below its 52-week high (€68.52) and 73% above its low (€31.90). Its P/E is 27.1x against a materials and chemicals median of 28.5x, and 9.9x on the earnings analysts expect over the next 12 months. With ArcelorMittal, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does ArcelorMittal pay a dividend?
Yes. As of November 4, 2026, ArcelorMittal pays €0.54 per share a year, which at today's price is a yield of 0.99%. It uses 24% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 1.27%. The materials and chemicals median on Fintols is 0.99%.
Is ArcelorMittal stock expensive?
It depends on what you compare it with. On P/E, ArcelorMittal trades at 27.1x its last 12 months of earnings: in line with the materials and chemicals median (28.5x). Including its debt, ArcelorMittal is valued at 9.6x its EBITDA (EV/EBITDA). A high P/E alone does not make ArcelorMittal expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are ArcelorMittal's competitors?
On Fintols we compare ArcelorMittal with BASF, Air Liquide and Sherwin-Williams, which are also in materials and chemicals. As of November 4, 2026, BASF is worth €46.7 billion and trades on a P/E of 24.1; Air Liquide is worth €119.6 billion and trades on a P/E of 33.8; Sherwin-Williams is worth $87.8 billion and trades on a P/E of 33.4. Each has a side-by-side comparison with ArcelorMittal below.
ArcelorMittal competitors
- BASF (BAS.DE) analysis · ArcelorMittal vs BASF comparison
- Air Liquide (AI.PA) analysis · ArcelorMittal vs Air Liquide comparison
- Sherwin-Williams (SHW) analysis · ArcelorMittal vs Sherwin-Williams comparison
To understand ArcelorMittal better
- How to Read a Balance Sheet: A Beginner's Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like ArcelorMittal: materials and chemicals stocks and IBEX 35 companies. Open the full MTS analysis with its valuation and scenarios. Educational content about ArcelorMittal, not investment advice.