MT (ArcelorMittal S.A.) Stock Financials & Earnings | Market Cap Arena

MT (ArcelorMittal S.A.) Stock Financials & Earnings | Market Cap Arena

MTArcelorMittal S.A.

Mkt Cap$44B

Basic Materials·Steel·🇱🇺 Luxembourg·NYSE

Revenue (TTM)$61.4B

Net Income (TTM)$3.2B

EPS (TTM)$4.09

Free Cash Flow (TTM)$471M

Gross Margin54.6%

Op. Margin5.9%

Net Margin5.1%

FCF Margin0.8%

P/S Ratio (TTM)0.7x

P/E Ratio (TTM)13.9x

YoY Rev Growth-1.7%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$18.5B	$1.8B	$1.2B
Q2 23	$18.6B	$17.9B	$1.9B
Q3 23	$16.6B	$16.0B	$1.2B
Q4 23	$14.6B	-$47.0B	-$2.0B
Q1 24	$16.3B	$16.3B	$1.1B
Q2 24	$16.2B	$16.2B	$1.0B
Q3 24	$15.2B	$15.2B	$663M
Q4 24	$14.7B	$1.5B	$529M
Q1 25	$14.8B	$14.8B	$825M
Q2 25	$15.9B	$15.9B	$1.9B
Q3 25	$15.7B	$1.4B	$544M
Q4 25	$15.0B	$1.4B	$327M

Valuation

Quarter	P/S	P/E
Q1 23	0.6x	7.0x
Q2 23	0.6x	10.4x
Q3 23	0.6x	10.6x
Q4 23	0.6x	47.8x
Q1 24	0.7x	57.8x
Q2 24	0.7x	—
Q3 24	0.7x	—
Q4 24	0.7x	32.8x
Q1 25	0.7x	36.4x
Q2 25	0.7x	17.6x
Q3 25	0.7x	17.0x
Q4 25	0.7x	13.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$949M	$11M
Q2 23	$2.1B	$1.0B
Q3 23	$1.3B	$116M
Q4 23	$4.6B	$2.0B
Q1 24	-$100M	-$1.3B
Q2 24	$973M	-$1.2B
Q3 24	$1.4B	$360M
Q4 24	$2.5B	$1.3B
Q1 25	-$354M	-$1.3B
Q2 25	$1.4B	$530M
Q3 25	$751M	-$486M
Q4 25	$3.0B	$1.7B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$938M
Q2 23	$1.1B
Q3 23	$1.2B
Q4 23	$2.6B
Q1 24	$1.2B
Q2 24	$2.2B
Q3 24	$1.1B
Q4 24	$1.1B
Q1 25	$967M
Q2 25	$886M
Q3 25	$1.2B
Q4 25	$1.2B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-15.3%	-0.5%
Q2 23	-16.0%	-5.5%
Q3 23	-12.4%	-11.0%
Q4 23	-13.8%	-3.9%
Q1 24	-12.0%	-12.1%
Q2 24	-12.7%	-8.9%
Q3 24	-8.5%	-5.7%
Q4 24	+1.1%	-14.2%
Q1 25	-9.1%	-8.1%
Q2 25	-2.0%	-8.0%
Q3 25	+3.0%	+4.0%
Q4 25	+1.7%	+3.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$39M	0.3%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$6.3B	$0	$6.3B
Q2 23	$5.8B	$0	$5.8B
Q3 23	$6.3B	$0	$6.3B
Q4 23	$7.7B	$0	$7.7B
Q1 24	$5.4B	$0	$5.4B
Q2 24	$5.9B	$0	$5.9B
Q3 24	$5.1B	$0	$5.1B
Q4 24	$6.4B	$0	$6.4B
Q1 25	$5.3B	$0	$5.3B
Q2 25	$5.4B	$0	$5.4B
Q3 25	$5.7B	$0	$5.7B
Q4 25	$5.5B	$0	$5.5B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	862M	-0.7%
Q2 23	853M	-1.0%
Q3 23	841M	-1.4%
Q4 23	819M	-2.6%
Q1 24	811M	-1.0%
Q2 24	804M	-0.9%
Q3 24	781M	-2.9%
Q4 24	772M	-1.2%
Q1 25	771M	-0.1%
Q2 25	771M	+0.0%
Q3 25	764M	-0.9%
Q4 25	764M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$357K	222K
FY 15	$304K	209K
FY 16	$285K	199K
FY 17	$349K	197K
FY 18	$364K	209K
FY 19	$370K	191K
FY 20	$317K	168K
FY 21	$485K	158K
FY 22	$517K	154K
FY 23	$539K	127K
FY 24	$498K	125K
FY 25	$489K	125K