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 54,901 - -
Change - -26.54% 10.97% -23.31% 91.41% 57.27% - -
Enterprise Value (EV) 1 33,203 23,667 26,680 23,317 42,840 62,695 61,179 59,773
Change - -28.72% 12.73% -12.6% 83.73% 46.35% -2.42% -2.3%
P/E 2.37x 2.58x 26x 13.7x 11.2x 16.2x 10.4x 9.53x
PBR 0.59x 0.4x 0.43x 0.36x 0.64x 0.97x 0.89x 0.82x
PEG - -0.1x -0.3x 0.2x 0x 1.77x 0.2x 1.01x
Capitalization / Revenue 0.38x 0.27x 0.35x 0.29x 0.57x 0.82x 0.77x 0.75x
EV / Revenue 0.43x 0.3x 0.39x 0.37x 0.7x 0.93x 0.86x 0.82x
EV / EBITDA 1.71x 1.67x 3.53x 3.31x 6.55x 7.56x 5.9x 5.58x
EV / EBIT 1.97x 2.04x 11.4x 7.04x 11.8x 12.9x 8.72x 8.37x
EV / FCF 4.81x 3.51x 8.8x 52.2x 91x 34.9x 22.4x 18.5x
FCF Yield 20.8% 28.5% 11.4% 1.92% 1.1% 2.86% 4.47% 5.39%
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% - 0.86% 0.92% 0.96%
EPS 2 13.49 10.18 1.09 1.69 4.11 4.486 6.981 7.637
Distribution rate 2.82% 3.93% 45.9% 32.5% - 13.9% 9.56% 9.14%
Net sales 1 76,571 79,844 68,275 62,441 61,352 67,267 71,382 72,910
EBITDA 1 19,404 14,161 7,558 7,053 6,541 8,295 10,362 10,716
EBIT 1 16,881 11,581 2,340 3,310 3,628 4,857 7,013 7,140
Net income 1 14,956 9,302 919 1,339 3,152 3,327 4,984 5,267
Net Debt 1 4,030 2,236 2,898 5,079 7,931 7,794 6,278 4,871
Reference price 2 32.01 26.26 28.38 23.22 45.90 72.81 72.81 72.81
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.($)
16.4x0.94x7.63x0.85% 55.49B
14.92x1.63x8.54x0.82% 61.95B
15.86x1.7x10.09x0.81% 37.48B
53.34x8.92x32.9x0.14% 27.69B
13.49x1.19x7.23x2.22% 24.81B
12.76x0.79x7.57x3.53% 22.55B
11.83x0.54x5.23x3.07% 16.96B
16.3x4.72x11.68x0.05% 12.17B
14.12x0.93x7.05x2.71% 10.94B
12.14x0.59x5.28x2.31% 9.31B
Average 18.12x 2.20x 10.32x 1.65% 27.93B
Weighted average by Cap. 18.60x 2.12x 10.56x 1.33%

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

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