Company Valuation: ArcelorMittal

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 29,173 21,431 23,782 18,238 34,909 55,857 - -
Change - -26.54% 10.97% -23.31% 91.41% 60.01% - -
Enterprise Value (EV) 1 33,203 23,667 26,680 23,317 42,840 63,631 62,260 60,728
Change - -28.72% 12.73% -12.6% 83.73% 48.53% -2.15% -2.46%
P/E 2.37x 2.58x 26x 13.7x 11.2x 16.8x 10.5x 9.7x
PBR 0.59x 0.4x 0.43x 0.36x 0.64x 0.99x 0.91x 0.83x
PEG - -0.1x -0.3x 0.2x 0x 2.24x 0.2x 1.24x
Capitalization / Revenue 0.38x 0.27x 0.35x 0.29x 0.57x 0.83x 0.78x 0.77x
EV / Revenue 0.43x 0.3x 0.39x 0.37x 0.7x 0.95x 0.87x 0.83x
EV / EBITDA 1.71x 1.67x 3.53x 3.31x 6.55x 7.66x 5.97x 5.67x
EV / EBIT 1.97x 2.04x 11.4x 7.04x 11.8x 13.1x 8.79x 8.51x
EV / FCF 4.81x 3.51x 8.8x 52.2x 91x 35.4x 22.8x 18.8x
FCF Yield 20.8% 28.5% 11.4% 1.92% 1.1% 2.82% 4.39% 5.31%
Dividend per Share 2 0.38 0.4 0.5 0.55 - 0.6233 0.6671 0.6984
Rate of return 1.19% 1.52% 1.76% 2.37% - 0.84% 0.9% 0.94%
EPS 2 13.49 10.18 1.09 1.69 4.11 4.418 7.082 7.637
Distribution rate 2.82% 3.93% 45.9% 32.5% - 14.1% 9.42% 9.14%
Net sales 1 76,571 79,844 68,275 62,441 61,352 67,191 71,528 72,910
EBITDA 1 19,404 14,161 7,558 7,053 6,541 8,306 10,427 10,716
EBIT 1 16,881 11,581 2,340 3,310 3,628 4,868 7,083 7,140
Net income 1 14,956 9,302 919 1,339 3,152 3,276 5,053 5,267
Net Debt 1 4,030 2,236 2,898 5,079 7,931 7,774 6,404 4,871
Reference price 2 32.01 26.26 28.38 23.22 45.90 74.08 74.08 74.08
Nbr of stocks (in thousands) 911,415 816,000 838,000 785,388 760,600 754,042 - -
Announcement Date 2/10/22 2/9/23 2/8/24 2/6/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.91x1.62x8.5x0.83% 61.67B
16.77x0.95x7.66x0.84% 55.86B
15.74x1.7x10.05x0.81% 37.72B
50.6x8.46x31.23x0.15% 26.27B
13.28x1.18x7.12x2.26% 24.27B
12.89x0.79x7.6x3.49% 22.67B
11.93x0.55x4.64x3.01% 17.35B
14.02x4.17x10.86x0.07% 11.16B
14.06x0.93x7.05x2.72% 10.89B
Average 18.25x 2.26x 10.52x 1.58% 29.76B
Weighted average by Cap. 18.33x 2.06x 10.36x 1.3%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield