MTS.MC · MCE IBEX 35

ArcelorMittal S.A.

Basic materials · Steel

€59.58 +€1.08 (+1.85%) today

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

Consensus of 3 analysts

Buy

Median price target €59.10 −0.8%

Open: €59.46
Day range: 59.46 – €59.90
52-week range: 33.21 – €68.52
Volume: 40,093
Market cap: €44,800M
P/E (TTM): 51.8x
EPS (TTM): €1.15
EPS est. 2026: €2.87
P/E est. 2026: 20.7x
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 year2026 · Analysts: 2	€2.8722.19 – 3.55	−12.0%€3.264
Next year2027 · Analysts: 2	€5.5325.05 – 6.01	+92.6%€2.872

Forward P/E: 20.7x (2026) and 10.8x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q3 2025	€0.501	—
Q4 2025	€0.230	—
Q1 2026	€0.641	€0.475
Q2 2026	€0.773	€0.664
Q3 2026	€1.025	−€0.402

Year	Actual EPS	Estimated EPS
2022	€10.180	—
2023	€1.090	—
2024	€1.690	—
2025	€4.110	—
2026	—	€2.872
2027	—	€5.532

EPS trend

Quarter	EPS	YoY change
Q3 2026	€1.025est. −€0.402 · surprise +354.9%	+104.4%
Q2 2026	€0.773est. €0.664 · surprise +16.4%	n/a
Q1 2026	€0.641est. €0.475 · surprise +35.0%	n/a
Q4 2025	€0.230	n/a
Q3 2025	€0.501	n/a

Year	EPS	Annual change
2027Estimated	€5.532	+92.6%
2026Estimated	€2.872	−30.1%
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	€0.135Aug 6, 2026
Next ex-dividend date	Nov 12, 2026

Dividend per share by year (€)

PaidEstimated

Year	Dividend per share
2019	€0.179
2020	€0.00
2021	€0.246
2022	€0.341
2023	€0.395
2024	€0.449
2025	€0.493
est. 12m	€0.53

ArcelorMittal forecasts

3 analyst ratings

Buy67% Hold33% Sell0%

Consensus: Buy · 2 buy, 1 hold, 0 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€65.50	+9.9%
Median	€59.10	−0.8%
Low	€52.70	−11.5%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€37.20
Dec 31, 2025	€39.07
Jan 30, 2026	€45.97
Feb 27, 2026	€55.44
Mar 31, 2026	€43.84
Apr 30, 2026	€49.24
May 29, 2026	€59.38
Jun 30, 2026	€52.74
Jul 31, 2026	€60.64
Aug 31, 2026	€64.10
Sep 30, 2026	€59.40
Oct 30, 2026	€53.58
Nov 11, 2026	€59.58

ArcelorMittal peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
MTS.MC	ArcelorMittal	44,800	51.8x	59.58	+1.85%	33.2168.52
MT.AS	ArcelorMittal	44,815	50.5x	59.60	+1.85%	33.2668.56
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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