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 55,647 - -
Change - -26.54% 10.97% -23.31% 91.41% 59.41% - -
Enterprise Value (EV) 1 33,203 23,667 26,680 23,317 42,840 63,422 62,051 60,519
Change - -28.72% 12.73% -12.6% 83.73% 48.04% -2.16% -2.47%
P/E 2.37x 2.58x 26x 13.7x 11.2x 16.7x 10.4x 9.66x
PBR 0.59x 0.4x 0.43x 0.36x 0.64x 0.98x 0.9x 0.83x
PEG - -0.1x -0.3x 0.2x 0x 2.23x 0.2x 1.23x
Capitalization / Revenue 0.38x 0.27x 0.35x 0.29x 0.57x 0.83x 0.78x 0.76x
EV / Revenue 0.43x 0.3x 0.39x 0.37x 0.7x 0.94x 0.87x 0.83x
EV / EBITDA 1.71x 1.67x 3.53x 3.31x 6.55x 7.64x 5.95x 5.65x
EV / EBIT 1.97x 2.04x 11.4x 7.04x 11.8x 13.1x 8.85x 8.48x
EV / FCF 4.81x 3.51x 8.8x 52.2x 91x 36.1x 22.1x 18.8x
FCF Yield 20.8% 28.5% 11.4% 1.92% 1.1% 2.77% 4.53% 5.33%
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% 0.95%
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 4,848 7,015 7,140
Net income 1 14,956 9,302 919 1,339 3,152 3,273 5,028 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 73.80 73.80 73.80
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.75x1.61x8.41x0.83% 61.01B
16.7x0.94x7.64x0.84% 55.65B
15.3x1.65x9.78x0.83% 36.66B
40.61x7.77x26.44x0.15% 26.99B
13.13x1.17x7.06x2.29% 23.94B
12.62x0.78x7.54x3.57% 22.21B
12.09x0.55x4.68x2.94% 17.87B
14.22x4.22x11x0.05% 11.29B
14.46x0.96x7.28x2.65% 11.27B
Average 17.10x 2.18x 9.98x 1.57% 29.65B
Weighted average by Cap. 17.31x 2.00x 9.88x 1.31%

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