ArcelorMittal SA ADR (MT) financial statements
ArcelorMittal SA ADR reported revenue of $61.4B in fiscal 2025, up 0.9% a year over 9 years.
Net income was $3.2B and the operating margin 5.9%, against 7.3% in 2016.
Free cash flow was $471M, and the company returned $542M in dividends and $262M in net buybacks.
The diluted share count fell 20% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ArcelorMittal SA ADR's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $56.8B | $68.7B | $76.0B | $70.6B | $53.3B | $76.6B | $79.8B | $68.3B | $62.4B | $61.4B |
| Cost of revenue | $50.4B | $60.9B | $67.0B | $68.9B | $49.1B | $57.3B | $67.3B | $63.5B | $56.7B | $57.0B |
| Gross profit | $6.4B | $7.8B | $9.0B | $1.7B | $4.1B | $19.2B | $12.5B | $4.7B | $5.8B | $4.4B |
| Research and development | $239M | $278M | $290M | $301M | $245M | $270M | $286M | $299M | $285M | $335M |
| Selling, general and admin | $2.2B | $2.4B | $2.5B | $2.4B | $2.0B | $2.3B | $2.3B | $2.4B | $2.5B | $2.6B |
| Operating income | $4.2B | $5.4B | $6.5B | -$627M | $2.1B | $17.0B | $10.3B | $2.3B | $3.3B | $3.6B |
| Interest expense | $1.2B | $879M | $687M | $695M | $477M | $357M | $401M | $715M | $510M | $577M |
| Pre-tax income | $2.7B | $5.0B | $5.0B | -$1.9B | $1.1B | $18.0B | $11.3B | $1.3B | $2.9B | $3.6B |
| Income tax | $986M | $432M | -$349M | $459M | $1.7B | $2.5B | $1.7B | $238M | $1.5B | $359M |
| Net income | $1.8B | $4.6B | $5.1B | -$2.5B | -$733M | $15.0B | $9.3B | $919M | $1.3B | $3.2B |
| EPS (diluted) | $1.86 | $4.46 | $5.04 | -$2.42 | -$0.64 | $13.49 | $10.18 | $1.09 | $1.69 | $4.11 |
| Diluted shares | 955M | 1.02B | 1.02B | 1.01B | 1.14B | 1.11B | 914M | 845M | 791M | 766M |
| Gross margin | 11.2% | 11.4% | 11.8% | 2.4% | 7.8% | 25.1% | 15.7% | 6.9% | 9.3% | 7.1% |
| Operating margin | 7.3% | 7.9% | 8.6% | -0.9% | 4.0% | 22.2% | 12.9% | 3.4% | 5.3% | 5.9% |
| Net margin | 3.1% | 6.7% | 6.8% | -3.5% | -1.4% | 19.5% | 11.7% | 1.3% | 2.1% | 5.1% |
Balance sheet
Fiscal years, from ArcelorMittal SA ADR's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2.5B | $2.6B | $2.2B | $4.9B | $5.6B | $4.2B | $9.3B | $7.7B | $6.4B | $5.4B |
| Receivables | $3.0B | $3.9B | $4.4B | $3.6B | $3.1B | $5.1B | $3.8B | $3.7B | $3.4B | $3.5B |
| Inventory | $14.7B | $18.0B | $20.7B | $17.3B | $12.3B | $19.9B | $20.1B | $18.8B | $16.5B | $18.6B |
| Total current assets | $22.2B | $26.7B | $32.5B | $28.6B | $28.0B | $34.9B | $37.1B | $33.2B | $29.4B | $30.6B |
| Property, plant and equipment | $34.8B | $37.0B | $35.6B | $36.2B | $30.6B | $30.1B | $30.2B | $33.7B | $33.3B | $41.0B |
| Total assets | $75.1B | $85.3B | $91.2B | $87.9B | $82.1B | $90.5B | $94.5B | $93.9B | $89.4B | $97.7B |
| Total current liabilities | $18.1B | $21.4B | $23.5B | $21.3B | $22.7B | $24.2B | $22.4B | $21.8B | $21.8B | $22.5B |
| Long-term debt | $11.8B | $10.1B | $9.3B | $11.5B | $9.8B | $6.5B | $9.1B | $8.4B | $8.8B | $10.7B |
| Total liabilities | $42.8B | $44.4B | $47.1B | $47.4B | $41.8B | $39.2B | $39.0B | $37.8B | $38.1B | $41.2B |
| Shareholders' equity | $30.1B | $38.8B | $42.1B | $38.5B | $38.3B | $49.1B | $53.2B | $54.0B | $49.2B | $54.5B |
| Net debt | $11.2B | $10.4B | $10.3B | $9.5B | $6.7B | $4.2B | $2.4B | $3.0B | $5.2B | $8.0B |
Cash flow
Fiscal years, from ArcelorMittal SA ADR's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.7B | $4.6B | $4.2B | $6.0B | $4.1B | $9.9B | $10.2B | $7.6B | $4.9B | $4.8B |
| Capital spending | $2.4B | $2.8B | $3.3B | $3.6B | $2.4B | $3.0B | $3.5B | $4.6B | $4.4B | $4.3B |
| Free cash flow | $264M | $1.7B | $891M | $2.4B | $1.6B | $6.9B | $6.7B | $3.0B | $447M | $471M |
| Dividends paid | $61M | $141M | $220M | $332M | $181M | $572M | $663M | $531M | $580M | $542M |
| Share buybacks (net) | — | — | — | -$90M | -$500M | -$5.2B | -$2.9B | -$1.2B | -$1.3B | -$262M |
| Net borrowing | -$4.8B | -$1.3B | $340M | $2.5B | -$1.3B | -$2.2B | $3.9B | $118M | $2.2B | $1.7B |
| Free cash flow margin | 0.5% | 2.5% | 1.2% | 3.5% | 3.1% | 9.0% | 8.4% | 4.4% | 0.7% | 0.8% |
| Dividends per share | $0.06 | $0.14 | $0.22 | $0.33 | $0.16 | $0.52 | $0.73 | $0.63 | $0.73 | $0.71 |
Questions
What was ArcelorMittal SA ADR's revenue in 2025?
$61.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does ArcelorMittal SA ADR generate?
$471M in fiscal 2025 (operating cash flow minus capital spending).
From ArcelorMittal SA ADR's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.