Last 47 quarters of trend data · Basic Materials · Steel
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 15.70 | 16.92 | 17.33 | 49.53 | 18.44 | 3.39 | 6.94 | — | 17.74 | 9.10 | 5.94 | — | 5.69 | 1.97 | 5.93 | 21.85 | 2.48 | 1.33 | 1.87 | 2.03 | 1.81 |
| — | +399.2% | +149.8% | — | +3.9% | -62.8% | +16.7% | — | +211.9% | +361.9% | +0.3% | — | +129.7% | +47.8% | +216.4% | +976.4% | +36.6% | -40.6% | -50.4% | -64.5% | — | |
| P/S Ratio | 0.80 | 0.69 | 0.64 | 0.58 | 0.44 | 0.38 | 0.38 | 0.30 | 0.34 | 0.28 | 0.34 | 0.40 | 0.32 | 0.31 | 0.35 | 0.34 | 0.23 | 0.24 | 0.35 | 0.40 | 0.41 |
| — | +79.5% | +70.9% | +91.6% | +30.7% | +34.7% | +9.4% | -24.1% | +6.5% | -9.5% | -2.1% | +18.6% | +34.9% | +32.6% | -0.9% | -14.7% | -43.4% | -49.1% | -33.5% | -18.7% | +35.2% | |
| P/B Ratio | 0.87 | 0.81 | 0.69 | 0.62 | 0.49 | 0.43 | 0.42 | 0.35 | 0.37 | 0.34 | 0.40 | 0.41 | 0.37 | 0.40 | 0.46 | 0.41 | 0.33 | 0.37 | 0.55 | 0.64 | 0.68 |
| — | +87.8% | +66.3% | +76.9% | +31.5% | +27.0% | +3.8% | -16.1% | +1.3% | -15.7% | -13.1% | +1.3% | +10.7% | +8.6% | -15.9% | -36.1% | -51.4% | -52.2% | -33.1% | -8.5% | +57.3% | |
| P/FCF | 104.24 | — | — | 6.87 | — | — | — | 3.34 | 14.24 | — | — | 2.92 | 45.37 | 5.68 | 590.08 | 2.67 | 3.72 | 2.76 | 5.14 | 2.73 | 4.75 |
| — | — | — | +105.4% | — | — | — | +14.6% | -68.6% | — | — | +9.5% | +1119.0% | +106.1% | +11388.0% | -2.4% | -21.6% | -46.5% | -77.5% | -70.4% | +45.8% | |
| EV / EBITDA | 8.68 | 7.57 | 8.16 | 9.03 | 7.18 | 3.11 | 4.89 | 4.65 | 4.96 | 3.52 | 3.96 | — | 3.39 | 2.68 | 4.27 | 19.02 | 2.39 | 1.22 | 1.68 | 1.82 | 1.58 |
| — | +143.1% | +66.9% | +94.3% | +44.8% | -11.6% | +23.5% | — | +46.2% | +31.2% | -7.3% | — | +42.2% | +119.4% | +154.9% | +942.8% | +51.4% | -39.9% | -46.2% | -48.2% | -60.1% | |
| EV / EBIT | 15.72 | 11.12 | 14.42 | 7.26 | 15.60 | — | 6.97 | 7.66 | 10.72 | 7.45 | 5.50 | — | 5.00 | 3.20 | 5.59 | 13.89 | 3.72 | 1.29 | 1.76 | 2.17 | 1.62 |
| — | — | +106.9% | -5.3% | +45.5% | — | +26.7% | — | +114.2% | +132.9% | -1.6% | — | +34.7% | +147.6% | +218.4% | +540.7% | +129.8% | -39.8% | -54.1% | -46.4% | -81.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.6% | 6.3% | 100.0% | 9.3% | 8.8% | 100.0% | 10.0% | 9.9% | 9.3% | 100.0% | 10.5% | -323.1% | 96.0% | 96.3% | 9.8% | -287.0% | 96.7% | 97.0% | 97.0% | 23.5% | 97.1% |
| — | -93.7% | +899.2% | -6.6% | -5.8% | 0.0% | -4.9% | +103.1% | -90.3% | +3.8% | +6.9% | -12.6% | -0.7% | -0.7% | -89.9% | -1322.0% | -0.4% | +0.2% | +384.7% | +46.7% | -2.9% | |
| Operating Margin | 5.9% | 6.3% | 4.9% | 2.2% | 3.5% | 12.1% | 5.6% | 3.6% | 4.4% | 6.4% | 6.6% | -13.6% | 7.2% | 10.3% | 6.4% | -1.8% | 8.7% | 20.3% | 20.3% | 21.9% | 26.4% |
| — | -48.1% | -12.6% | -39.2% | -20.4% | +88.5% | -15.3% | +126.4% | -39.7% | -37.8% | +2.2% | -651.1% | -16.8% | -49.0% | -68.3% | -108.3% | -67.1% | -11.4% | +24.5% | +55.5% | +388.2% | |
| Net Margin | 5.1% | 4.1% | 3.7% | 1.2% | 2.4% | 11.3% | 5.4% | -2.7% | 1.9% | 3.1% | 5.8% | -20.4% | 5.6% | 10.0% | 5.9% | 1.5% | 5.2% | 17.7% | 18.9% | 19.4% | 22.8% |
| — | -63.8% | -31.6% | +144.6% | +27.5% | +263.0% | -5.6% | +87.0% | -66.2% | -69.0% | -2.8% | -1419.1% | +6.8% | -43.6% | -68.6% | -92.1% | -77.1% | -14.4% | +33.9% | +128.5% | +1261.1% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.8% | 1.2% | 1.0% | 0.3% | 0.7% | 3.3% | 1.5% | -0.7% | 0.5% | 0.9% | 1.7% | -5.2% | 1.6% | 3.3% | 2.0% | 0.5% | 1.8% | 7.0% | 7.7% | 8.0% | 9.7% |
| — | -63.3% | -34.3% | +142.8% | +27.3% | +256.4% | -8.3% | +86.0% | -67.5% | -71.9% | -14.4% | -1195.3% | -10.6% | -53.2% | -74.4% | -94.1% | -81.4% | -23.2% | +36.6% | +156.5% | +1492.7% | |
| ROA | 3.4% | 0.7% | 0.6% | 0.2% | 0.4% | 1.9% | 0.9% | -0.4% | 0.3% | 0.6% | 1.0% | -3.2% | 1.0% | 2.0% | 1.2% | 0.3% | 1.1% | 4.0% | 4.4% | 4.5% | 5.3% |
| — | -63.3% | -34.1% | +142.2% | +22.3% | +241.7% | -11.8% | +86.5% | -68.2% | -71.7% | -12.6% | -1224.9% | -6.9% | -51.6% | -73.7% | -93.8% | -80.2% | -14.9% | +59.1% | +208.8% | +1771.8% | |
| ROIC | 4.5% | 1.2% | 0.9% | 0.4% | 0.6% | 2.3% | 1.1% | 0.7% | 0.8% | 1.3% | 1.3% | -2.5% | 1.5% | 2.3% | 1.5% | -0.4% | 2.1% | 5.6% | 5.8% | 6.3% | 7.7% |
| — | -48.7% | -18.9% | -44.0% | -24.0% | +77.4% | -21.0% | +127.4% | -43.4% | -43.9% | -10.3% | -520.0% | -30.5% | -58.5% | -74.1% | -106.3% | -72.7% | -16.1% | +38.6% | +91.8% | +539.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.25 | 0.24 | 0.24 | 0.26 | 0.24 | 0.23 | 0.23 | 0.20 | 0.20 | 0.18 | 0.19 | 0.18 | 0.18 | 0.20 | 0.21 | 0.17 | 0.16 | 0.16 | 0.16 | 0.17 |
| — | +4.4% | +5.8% | +5.2% | +29.0% | +18.7% | +23.1% | +18.4% | +11.0% | +13.4% | -10.2% | -9.1% | +9.8% | +16.0% | +31.8% | +28.1% | -0.3% | -21.8% | -42.7% | -51.0% | -53.0% | |
| Debt / EBITDA | 2.04 | 7.86 | 9.11 | 11.34 | 11.62 | 5.22 | 8.13 | 9.34 | 8.37 | 6.62 | 5.96 | — | 5.65 | 4.02 | 6.30 | 35.30 | 3.95 | 1.70 | 1.72 | 1.65 | 1.39 |
| — | +50.5% | +12.0% | +21.4% | +38.8% | -21.1% | +36.4% | — | +48.1% | +64.8% | -5.3% | — | +43.2% | +135.9% | +266.9% | +2034.7% | +183.9% | -6.8% | -51.0% | -68.6% | -84.9% | |
| Current Ratio | 1.36 | 1.43 | 1.39 | 1.36 | 1.39 | 1.40 | 1.35 | 1.35 | 1.46 | 1.53 | 1.55 | 1.53 | 1.62 | 1.63 | 1.57 | 1.66 | 1.62 | 1.58 | 1.55 | 1.45 | 1.42 |
| — | +2.2% | +2.7% | +0.9% | -5.1% | -8.5% | -13.0% | -11.8% | -9.9% | -6.5% | -1.1% | -7.9% | +0.1% | +3.5% | +0.8% | +14.6% | +14.2% | +23.0% | +22.6% | +17.2% | +16.3% | |
| Quick Ratio | 0.53 | 0.57 | 0.54 | 0.53 | 0.58 | 0.59 | 0.58 | 0.59 | 0.59 | 0.66 | 0.65 | 0.67 | 0.70 | 0.68 | 0.70 | 0.76 | 0.70 | 0.68 | 0.71 | 0.62 | 0.61 |
| — | -3.3% | -7.9% | -9.6% | -2.0% | -10.5% | -10.7% | -11.3% | -15.3% | -3.8% | -6.8% | -12.5% | -0.9% | +0.1% | -1.0% | +21.8% | +14.8% | +19.0% | -1.8% | -9.6% | -14.9% | |
| Interest Coverage | 9.97 | 2.49 | 6.39 | 16.19 | 7.01 | — | 21.65 | 1.74 | 77.75 | 1.53 | 19.59 | — | 40.77 | 46.49 | 21.77 | — | 39.54 | 92.25 | 95.14 | 87.24 | 93.29 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying MT stock.
ArcelorMittal S.A.'s current P/E is 15.7x. The average P/E over the last 4 quarters is 25.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
ArcelorMittal S.A.'s current operating margin is 5.9%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking ArcelorMittal S.A.'s business trajectory between earnings reports.