MT vs RS: ArcelorMittal SA ADR and Reliance Steel & Aluminum compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- ArcelorMittal SA ADR is the larger company, worth $44.7B, about 2.2 times Reliance Steel & Aluminum.
- Reliance Steel & Aluminum grew revenue faster over the last year (+15.5% vs -1.7%).
- Reliance Steel & Aluminum keeps more of each dollar of revenue as operating profit (7.5% vs 5.9%).
- On earnings, ArcelorMittal SA ADR is the cheaper stock (15.6x vs 25.4x).
- ArcelorMittal SA ADR's price assumes faster free cash flow growth: about 26% a year, against 14% for Reliance Steel & Aluminum (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | MT | RS |
|---|---|---|
| Market cap | $44.7B | $19.9B |
| Share price | $64.11 | $402.45 |
| Revenue (last fiscal year) | $61.4B | $14.3B |
| Free cash flow (last fiscal year) | $471M | $502M |
| Revenue growth, last year | -1.7% | +15.5% |
| Revenue growth per year, last 5 fiscal years | -5.4% | +0.4% |
| Operating margin | 5.9% | 7.5% |
| Net margin | 5.1% | 5.4% |
| Return on equity | 5.8% | 11.3% |
| P/E (trailing) | 15.6x | 25.4x |
| Price / free cash flow | 95.0x | 39.6x |
| EV / EBITDA | 7.65x | 16.0x |
| FCF growth the price implies | 25.7% | 13.9% |
| Dividend yield | 0.98% | 1.2% |
| Debt / equity | 0.76x | 0.52x |
| Fundamental grade | C | C |
| Superinvestors holding it | 3 | 4 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
ArcelorMittal SA ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $76.6B | $6.9B | 22.2% |
| 2022 | $79.8B | $6.7B | 12.9% |
| 2023 | $68.3B | $3.0B | 3.4% |
| 2024 | $62.4B | $447M | 5.3% |
| 2025 | $61.4B | $471M | 5.9% |
Reliance Steel & Aluminum
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $14.1B | $563M | 13.8% |
| 2022 | $17.0B | $1.8B | 14.7% |
| 2023 | $14.8B | $1.2B | 11.7% |
| 2024 | $13.8B | $999M | 8.4% |
| 2025 | $14.3B | $502M | 7.1% |
Where the revenue comes from
ArcelorMittal SA ADR · by segments, 2025
Europe$25.6B44%
North America$12.3B21%
Brazil$9.5B16%
Sustainable Solutions$9.3B16%
Mining$1.4B2%
Reliance Steel & Aluminum · by products, 2025
Carbon steel$7.9B55%
Aluminum$2.5B17%
Stainless steel$1.9B14%
Toll processing and logistics$647M5%
Alloy$641M4%
Copper and brass$377M3%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open MT in InvestinglyQuestions
Which is bigger, ArcelorMittal SA ADR or Reliance Steel & Aluminum?
ArcelorMittal SA ADR (MT), at $44.7B against $19.9B.
Is MT or RS cheaper?
By trailing P/E, ArcelorMittal SA ADR (15.6x) is cheaper than Reliance Steel & Aluminum (25.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, MT or RS?
Reliance Steel & Aluminum: revenue grew +15.5% over the last year, against -1.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.