MT.AS · AMS CAC 40

ArcelorMittal S.A.

Basic materials · Steel

€59.60 +€1.08 (+1.85%) today

Closing price on Nov 11, 2026 · Source: Yahoo Finance

Consensus of 14 analysts

Buy

Median price target €70.55 +18.4%

Open: €59.42
Day range: 59.24 – €59.98
52-week range: 33.26 – €68.56
Volume: 425,650
Market cap: €44,815M
P/E (TTM): 50.5x
EPS (TTM): €1.18
EPS est. 2026: €3.16
P/E est. 2026: 18.9x
Dividend yield: 1.0%
Beta: 1.71
Payout: 53%

ArcelorMittal financials

Q3 2026 results, quarter ended Sep 30, 2026

Metric	Q3 2026	1-year change
Total revenue	€16,466M	+5.2%
Net income	−€391M	−203.7%
Earnings per share	−€0.52	−203.7%
Net margin	−2.4%	−4.8 pp
Free cash flow	−€400M	n/s
Debt / equity	0.25	−8.0%

Revenue and net income (€M)

Total revenueNet income

Quarter	Total revenue	Net income
Q3 2025	€15,657M	€377M
Q4 2025	€14,971M	€177M
Q1 2026	€15,457M	€575M
Q2 2026	€16,761M	€683M
Q3 2026	€16,466M	−€391M

ArcelorMittal earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ4 2026 · Analysts: 3	€1.2231.14 – 1.27	+42.2%€0.860
Next quarterQ1 2027 · Analysts: 2	€1.5801.43 – 1.73	+110.7%€0.750
Current year2026 · Analysts: 9	€3.1602.19 – 4.12	−17.9%€3.850
Next year2027 · Analysts: 9	€7.1745.51 – 8.33	+127.0%€3.160

Forward P/E: 18.9x (2026) and 8.3x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q3 2025	€0.501	—
Q4 2025	€0.860	€0.528
Q1 2026	€0.750	€0.638
Q2 2026	€0.890	€1.097
Q3 2026	€1.150	€0.990
Q4 2026	—	€1.223
Q1 2027	—	€1.580

Year	Actual EPS	Estimated EPS
2022	€10.180	—
2023	€1.090	—
2024	€1.690	—
2025	€4.110	—
2026	—	€3.160
2027	—	€7.174

EPS trend

Quarter	EPS	YoY change
Q1 2027Estimated	€1.580	+110.7%
Q4 2026Estimated	€1.223	+42.2%
Q3 2026	€1.150est. €0.990 · surprise +16.2%	+129.4%
Q2 2026	€0.890est. €1.097 · surprise −18.9%	n/a
Q1 2026	€0.750est. €0.638 · surprise +17.7%	n/a
Q4 2025	€0.860est. €0.528 · surprise +62.8%	n/a
Q3 2025	€0.501	n/a

Year	EPS	Annual change
2027Estimated	€7.174	+127.0%
2026Estimated	€3.160	−23.1%
2025	€4.110	+143.2%
2024	€1.690	+55.0%
2023	€1.090	−89.3%
2022	€10.180	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

ArcelorMittal dividend

Yield and payments

Dividend yield (TTM)	1.0%
Forward yield (next 12m)	0.9%
Dividend per share (TTM)	€0.60
Forward dividend (next 12m)	€0.53
Payout (TTM)	53%
Last dividend	€0.13Aug 6, 2026
Next ex-dividend date	Nov 12, 2026

Dividend per share by year (€)

PaidEstimated

Year	Dividend per share
2019	€0.18
2020	€0.00
2021	€0.246
2022	€0.341
2023	€0.395
2024	€0.449
2025	€0.494
est. 12m	€0.53

ArcelorMittal forecasts

14 analyst ratings

Buy86% Hold14% Sell0%

Consensus: Buy · 12 buy, 2 hold, 0 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€80.63	+35.3%
Median	€70.55	+18.4%
Low	€54.42	−8.7%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€37.18
Dec 31, 2025	€39.09
Jan 30, 2026	€45.98
Feb 27, 2026	€55.48
Mar 31, 2026	€43.84
Apr 30, 2026	€49.24
May 29, 2026	€59.32
Jun 30, 2026	€52.70
Jul 31, 2026	€60.74
Aug 31, 2026	€64.10
Sep 30, 2026	€59.36
Oct 30, 2026	€53.60
Nov 11, 2026	€59.60

ArcelorMittal peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
MT.AS	ArcelorMittal	44,815	50.5x	59.60	+1.85%	33.2668.56
MTS.MC	ArcelorMittal	44,800	51.8x	59.58	+1.85%	33.2168.52
ACX.MC	Acerinox	3,977	30.1x	15.96	+0.95%	11.1518.58
NUE	Nucor	58,187	16.3x	256.47 $	+2.90%	141.33287.70
STLD	Steel Dynamics	33,580	17.4x	236.12 $	+3.76%	151.21288.74
AI.PA	Air Liquide	122,324	34.5x	191.68	+0.70%	140.78192.02

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