Recent News
On July 6th the company published second‑quarter sell‑side consensus figures; on June 18th ArcelorMittal released a video address marking its 20th anniversary; on June 11th the Poland operation recorded a milestone iron‑ore shipment to a Dąbrowa Górnicza steelworks; on July 22nd ArcelorMittal Spain announced the start of a second tranche of its 2025–2030 share‑buyback programme.
Technical Analysis
Directional movement & trend strength: ADX at 10.2 indicates no strong trend; DI+ at 26.51 decreasing registers bearish directional momentum while DI− at 29.48 decreasing registers bullish directional momentum, together signaling directional pressure has weakened and the market lacks a clear trend.
MACD: MACD stands at 0.54 with the signal at 0.30 and a rising MACD_trend; the MACD currently trades above its signal line, representing bullish momentum and recent upward convergence of shorter‑term momentum versus longer‑term momentum.
MRO (Momentum/Regression Oscillator): MRO reads 16.05 (positive), indicating price sits above the WMDST target and carries potential for a near‑term decrease as momentum normalizes.
RSI: RSI at 54.06 with a dip‑and‑reversal pattern indicates the oscillator rebounded from lower levels into neutral territory, supporting near‑term upside without overbought risk yet.
Price vs. moving averages and bands: Last close $66.88 exceeds the 200‑day average $54.06 and tracks above 12‑ and 26‑day EMAs (12‑day EMA $65.81), with price near the upper 1x Bollinger band ($67.30); short‑term trend reads as strength but volatility remains elevated given 42‑day beta 1.69 and 52‑week beta 2.00.
Volume & support: Current volume below 10‑ and 50‑day averages suggests the recent advance carries lighter participation; the supertrend lower support sits at $62.25, providing a near‑term structural floor.
Fundamental Analysis
Profitability and margins: EBIT equals $850.0M, producing an EBIT margin of 5.50%. EBIT margin rose QoQ by +26.20% but fell YoY by −21.68%. WMDST notes the EBIT margin remains below the industry peer mean of 13.477% and below the industry peer median of 10.743%.
Earnings: Reported EPS was $0.75 versus an estimate of $0.71, an EPS surprise of +5.63% (actual‐estimate)/estimate. Forward EPS stands at $1.8058 giving a forward P/E of 31.06x against a reported trailing P/E of 74.79x; the trailing P/E sits below the industry peer mean of 90.19x but above the industry peer median of 65.35x.
Cash flow and leverage: Free cash flow totaled −$1.28B, producing a free cash flow yield of −3.00% and free cash growth weakness year‑over‑year. Operating cash flow reads −$9.0M. Interest coverage equals 6.39x, while net debt totals $9.324B and debt/EBITDA registers 8.56x; debt ratios imply meaningful leverage relative to EBITDA despite adequate interest coverage.
Liquidity and working capital: Cash and short‑term investments total $4.359B; current ratio stands at 1.39 and quick ratio at 0.54. Net working capital approximates $8.485B and the cash conversion cycle is 22.45 days, substantially below the industry peer mean of 102.10 days, reflecting efficient receivables and inventory turns.
Efficiency and returns: Asset turnover equals 0.158x, below the industry peer mean of 0.2466x, limiting top‑line conversion into asset‑driven returns. Return on equity sits at 1.04% and return on assets at 0.59%, both down YoY, while operating margin of 4.872% trails the industry peer mean.
Valuation summary: WMDST values the stock as over‑valued. Key valuation ratios show price/book at 0.77x (below the industry peer mean of 4.75x) and a forward P/E of 31.06x versus a forward EPS that implies elevated growth expectations given negative PEG measures; free cash flow remains negative, creating a valuation tension between market multiples and cash generation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-30 |
| NEXT REPORT DATE: | 2026-07-30 |
| CASH FLOW | Begin Period Cash Flow | — |
| Operating Cash Flow | $ -9.00 M | |
| Capital Expenditures | $ -1.27 B | |
| Change In Working Capital | $ -1.52 B | |
| Dividends Paid | $ -114.00 M | |
| Cash Flow Delta | — | |
| End Period Cash Flow | — | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 15.5 B | |
| Forward Revenue | $ 9.2 B | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 749.0 M | |
| Depreciation and Amortization | $ 749.0 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ 850.0 M | |
| EBIT | $ 850.0 M | |
| Operating Income | $ 753.0 M | |
| Interest Income | $ 133.0 M | |
| Interest Expense | $ 133.0 M | |
| Net Interest Income | — | |
| Income Before Tax | $ 717.0 M | |
| Tax Provision | $ 136.0 M | |
| Tax Rate | 18.968 % | |
| Net Income | $ 575.0 M | |
| Net Income From Continuing Operations | $ 575.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.71 | |
| EPS Actual | $ 0.75 | |
| EPS Difference | $ 0.04 | |
| EPS Surprise | 5.634 % | |
| Forward EPS | $ 1.81 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 98.3 B | |
| Intangible Assets | $ 5.5 B | |
| Net Tangible Assets | $ 49.7 B | |
| Total Current Assets | $ 30.5 B | |
| Cash and Short-Term Investments | $ 4.4 B | |
| Cash | $ 4.4 B | |
| Net Receivables | $ 4.1 B | |
| Inventory | $ 18.7 B | |
| Long-Term Investments | $ 1.9 B | |
| LIABILITIES | ||
| Accounts Payable | $ 12.3 B | |
| Short-Term Debt | $ 2.7 B | |
| Total Current Liabilities | $ 22.0 B | |
| Net Debt | $ 9.3 B | |
| Total Debt | $ 13.7 B | |
| Total Liabilities | $ 41.1 B | |
| EQUITY | ||
| Total Equity | $ 55.2 B | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 72.51 | |
| Shares Outstanding | 760.428 M | |
| Revenue Per-Share | $ 20.31 | |
| VALUATION | Market Capitalization | $ 42.7 B |
| Enterprise Value | $ 52.0 B | |
| Enterprise Multiple | 32.532 | |
| Enterprise Multiple QoQ | -9.18 % | |
| Enterprise Multiple YoY | 96.436 % | |
| Enterprise Multiple IPRWA | high: 135.162 mean: 54.502 median: 42.349 MT: 32.532 low: -12.173 |
|
| EV/R | 3.365 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.78 | |
| Asset To Liability | 2.393 | |
| Debt To Capital | 0.199 | |
| Debt To Assets | 0.139 | |
| Debt To Assets QoQ | 1.45 % | |
| Debt To Assets YoY | 5.701 % | |
| Debt To Assets IPRWA | high: 0.519 mean: 0.257 median: 0.251 low: 0.188 MT: 0.139 |
|
| Debt To Equity | 0.248 | |
| Debt To Equity QoQ | 0.69 % | |
| Debt To Equity YoY | 5.373 % | |
| Debt To Equity IPRWA | high: 2.422 mean: 0.566 median: 0.458 low: 0.285 MT: 0.248 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.774 | |
| Price To Book QoQ | 18.074 % | |
| Price To Book YoY | 85.588 % | |
| Price To Book IPRWA | high: 21.667 mean: 4.75 median: 2.863 MT: 0.774 low: 0.144 |
|
| Price To Earnings (P/E) | 74.792 | |
| Price To Earnings QoQ | 37.195 % | |
| Price To Earnings YoY | 177.533 % | |
| Price To Earnings IPRWA | high: 146.202 mean: 90.195 MT: 74.792 median: 65.353 low: -25.413 |
|
| PE/G Ratio | -5.847 | |
| Price To Sales (P/S) | 2.762 | |
| Price To Sales QoQ | 15.888 % | |
| Price To Sales YoY | 91.511 % | |
| Price To Sales IPRWA | high: 24.074 mean: 8.92 median: 5.042 MT: 2.762 low: 0.0 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 31.062 | |
| Forward PE/G | -2.428 | |
| Forward P/S | 4.847 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 41.129 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.158 | |
| Asset Turnover Ratio QoQ | 3.51 % | |
| Asset Turnover Ratio YoY | -3.611 % | |
| Asset Turnover Ratio IPRWA | high: 0.591 mean: 0.247 median: 0.226 MT: 0.158 low: 0.106 |
|
| Receivables Turnover | 4.064 | |
| Receivables Turnover Ratio QoQ | 8.323 % | |
| Receivables Turnover Ratio YoY | 2.764 % | |
| Receivables Turnover Ratio IPRWA | MT: 4.064 high: 4.005 mean: 2.125 median: 1.724 low: 1.263 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 22.451 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 22.451 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | -2.69 % | |
| Cash Conversion Cycle Days IPRWA | high: 142.387 mean: 102.097 median: 91.92 low: 84.546 MT: 22.451 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.822 | |
| CapEx To Revenue | -0.082 | |
| CapEx To Depreciation | -1.697 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 66.1 B | |
| Net Invested Capital | $ 68.9 B | |
| Invested Capital | $ 68.9 B | |
| Net Tangible Assets | $ 49.7 B | |
| Net Working Capital | $ 8.5 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.198 | |
| Current Ratio | 1.386 | |
| Current Ratio QoQ | 1.95 % | |
| Current Ratio YoY | 2.729 % | |
| Current Ratio IPRWA | high: 6.161 mean: 3.463 median: 3.13 MT: 1.386 low: 1.11 |
|
| Quick Ratio | 0.536 | |
| Quick Ratio QoQ | 0.394 % | |
| Quick Ratio YoY | -7.869 % | |
| Quick Ratio IPRWA | high: 2.242 mean: 1.525 median: 1.33 low: 0.638 MT: 0.536 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.557 | |
| Cost Of Debt | 0.796 % | |
| Interest Coverage Ratio | 6.391 | |
| Interest Coverage Ratio QoQ | 553.147 % | |
| Interest Coverage Ratio YoY | -70.475 % | |
| Interest Coverage Ratio IPRWA | high: 46.56 mean: 17.596 median: 16.439 MT: 6.391 low: -5.812 |
|
| Operating Cash Flow Ratio | -0.007 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 5.044 | |
| Dividend Payout Ratio | 0.198 | |
| Dividend Rate | $ 0.15 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.58 % | |
| Revenue Growth | 3.246 % | |
| Revenue Growth QoQ | -292.185 % | |
| Revenue Growth YoY | 468.476 % | |
| Revenue Growth IPRWA | high: 17.916 % median: 11.47 % mean: 9.499 % MT: 3.246 % low: -34.747 % |
|
| Earnings Growth | -12.791 % | |
| Earnings Growth QoQ | -116.939 % | |
| Earnings Growth YoY | -112.791 % | |
| Earnings Growth IPRWA | high: 115.0 % mean: 40.373 % median: 18.884 % MT: -12.791 % low: -43.75 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | 5.499 % | |
| EBIT Margin QoQ | 126.203 % | |
| EBIT Margin YoY | -21.678 % | |
| EBIT Margin IPRWA | high: 23.019 % mean: 13.477 % median: 10.743 % MT: 5.499 % low: -3.23 % |
|
| Return On Sales (ROS) | 4.872 % | |
| Return On Sales QoQ | -139.642 % | |
| Return On Sales YoY | -30.608 % | |
| Return On Sales IPRWA | high: 22.982 % mean: 12.971 % median: 11.147 % MT: 4.872 % low: -4.328 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -1.28 B | |
| Free Cash Flow Yield | -2.998 % | |
| Free Cash Flow Yield QoQ | -161.196 % | |
| Free Cash Flow Yield YoY | -51.559 % | |
| Free Cash Flow Yield IPRWA | high: 3.67 % median: 0.366 % mean: -0.199 % MT: -2.998 % low: -8.227 % |
|
| Free Cash Growth | -173.227 % | |
| Free Cash Growth QoQ | -62.315 % | |
| Free Cash Growth YoY | -12.93 % | |
| Free Cash Growth IPRWA | high: 211.765 % mean: -44.594 % median: -67.279 % low: -148.276 % MT: -173.227 % |
|
| Free Cash To Net Income | -2.226 | |
| Cash Flow Margin | -1.055 % | |
| Cash Flow To Earnings | -0.283 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.587 % | |
| Return On Assets QoQ | 226.111 % | |
| Return On Assets YoY | -34.045 % | |
| Return On Assets IPRWA | high: 3.887 % median: 2.435 % mean: 2.265 % MT: 0.587 % low: -1.181 % |
|
| Return On Capital Employed (ROCE) | 1.115 % | |
| Return On Equity (ROE) | 0.01 | |
| Return On Equity QoQ | 220.615 % | |
| Return On Equity YoY | -33.715 % | |
| Return On Equity IPRWA | high: 0.134 median: 0.044 mean: 0.041 MT: 0.01 low: -0.048 |
|
| DuPont ROE | 1.049 % | |
| Return On Invested Capital (ROIC) | 1.0 % | |
| Return On Invested Capital QoQ | 132.019 % | |
| Return On Invested Capital YoY | 1.42 % | |
| Return On Invested Capital IPRWA | high: 5.351 % median: 3.187 % mean: 3.186 % MT: 1.0 % low: -0.862 % |
|