ArcelorMittal Future Growth

Future criteria checks 4/6

ArcelorMittal is forecast to grow earnings and revenue by 70.5% and 1.9% per annum respectively. EPS is expected to grow by 72.5% per annum. Return on equity is forecast to be 6.2% in 3 years.

Key information

70.5%

Earnings growth rate

72.5%

EPS growth rate

Metals and Mining earnings growth	28.1%
Revenue growth rate	1.9%
Future return on equity	6.2%
Analyst coverage	Good
Last updated	15 Nov 2024

Recent future growth updates

No updates

Recent updates

Earnings and Revenue Growth Forecasts

WBAG:MT - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	65,103	3,764	1,294	5,950	11
12/31/2025	63,466	3,055	699	5,555	13
12/31/2024	62,564	2,229	466	5,077	13
9/30/2024	62,279	-1,237	990	5,712	N/A
6/30/2024	63,699	-595	746	5,582	N/A
3/31/2024	66,056	761	1,685	6,596	N/A
12/31/2023	68,275	919	3,032	7,645	N/A
9/30/2023	70,614	4,146	3,288	7,951	N/A
6/30/2023	72,973	4,210	4,369	8,651	N/A
3/31/2023	76,509	6,273	5,241	9,118	N/A
12/31/2022	79,844	9,302	6,735	10,203	N/A
9/30/2022	83,759	13,086	7,610	10,723	N/A
6/30/2022	85,013	16,714	8,180	11,184	N/A
3/31/2022	82,214	16,796	8,024	10,942	N/A
12/31/2021	76,571	14,956	6,897	9,905	N/A
9/30/2021	69,949	12,118	4,636	7,167	N/A
6/30/2021	62,986	7,236	4,119	6,495	N/A
3/31/2021	54,619	2,672	2,277	4,485	N/A
12/31/2020	53,270	-733	1,643	4,082	N/A
9/30/2020	54,600	-3,822	3,012	5,598	N/A
6/30/2020	57,968	-4,100	1,149	4,156	N/A
3/31/2020	66,271	-3,988	2,165	5,640	N/A
12/31/2019	70,615	-2,454	2,445	6,017	N/A
9/30/2019	73,428	621	1,342	5,255	N/A
6/30/2019	75,316	2,059	1,808	5,561	N/A
3/31/2019	76,035	4,371	1,507	5,007	N/A
12/31/2018	76,033	5,149	891	4,196	N/A
9/30/2018	75,416	4,995	1,726	4,911	N/A
6/30/2018	74,533	5,301	N/A	5,040	N/A
3/31/2018	71,779	4,758	N/A	5,022	N/A
12/31/2017	68,679	4,568	N/A	4,563	N/A
9/30/2017	65,095	3,932	N/A	3,331	N/A
6/30/2017	61,979	3,407	N/A	3,444	N/A
3/31/2017	59,478	3,197	N/A	3,099	N/A
12/31/2016	56,791	1,779	N/A	2,708	N/A
9/30/2016	56,646	-5,310	N/A	2,629	N/A
6/30/2016	57,712	-6,701	N/A	2,226	N/A
3/31/2016	59,859	-7,634	N/A	2,376	N/A
12/31/2015	63,578	-7,946	N/A	2,151	N/A
9/30/2015	68,320	-2,229	N/A	2,869	N/A
6/30/2015	72,798	-1,496	N/A	2,897	N/A
3/31/2015	76,612	-1,623	N/A	3,426	N/A
12/31/2014	79,282	-1,100	N/A	3,870	N/A
9/30/2014	80,407	-1,415	N/A	4,265	N/A
6/30/2014	79,983	-1,630	N/A	3,316	N/A
3/31/2014	79,476	-2,462	N/A	4,127	N/A
12/31/2013	79,440	-2,602	N/A	4,296	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MT is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.4%).

Earnings vs Market: MT is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MT is expected to become profitable in the next 3 years.

Revenue vs Market: MT's revenue (1.9% per year) is forecast to grow faster than the Austrian market (0.7% per year).

High Growth Revenue: MT's revenue (1.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MT's Return on Equity is forecast to be low in 3 years time (6.2%).

ArcelorMittal Future Growth

Future criteria checks 4/6

Key information

Recent future growth updates

Recent updates

Third quarter 2024 earnings released: EPS: US$0.37 (vs US$1.11 in 3Q 2023)

ArcelorMittal (ENXTAM:MT) has entered into a definitive Agreement with Nippon Steel Corporation (TSE:5401) to acquire remaining 50% equity interest in the AM/NS Calvert Joint Venture for $1

New minor risk - Share price stability

ArcelorMittal S.A. (ENXTAM:MT) completed the acquisition of 28.4% stake in Vallourec S.A. (ENXTPA:VK) from funds managed by Apollo Global Management, Inc. (NYSE:APO).

ArcelorMittal S.A. (ENXTAM:MT) completed the acquisition of 28.4% stake in Vallourec S.A. (ENXTPA:VK) from funds managed by Apollo Global Management, Inc. (NYSE:APO).

Second quarter 2024 earnings released: EPS: US$0.64 (vs US$2.21 in 2Q 2023)

Now 23% undervalued after recent price drop

Insufficient new directors

Now 21% undervalued after recent price drop

New minor risk - Shareholder dilution

First quarter 2024 earnings released: EPS: US$1.16 (vs US$1.28 in 1Q 2023)

ArcelorMittal S.A. Approves the Distribution of a Dividend

ArcelorMittal S.A. Announces Stepped Down of Karyn Ovelmen as Chair of the Board’S Audit & Risk Committee, Effective 30 April 2024

ArcelorMittal S.A. Announces Management Changes to ArcelorMittal Mining

ArcelorMittal S.A. (ENXTAM:MT) reached an agreement to acquire 28.4% stake in Vallourec S.A. (ENXTPA:VK) from funds managed by Apollo Global Management, Inc. (NYSE:APO) for approximately €1 billion.

Full year 2023 earnings released: EPS: US$1.09 (vs US$10.21 in FY 2022)

Now 21% overvalued after recent price rise

Full year 2023 earnings released: EPS: US$1.09 (vs US$10.21 in FY 2022)

ArcelorMittal S.A. to Report Q2, 2024 Results on Aug 01, 2024

ArcelorMittal S.A., Annual General Meeting, Apr 30, 2024

U.S. Steel Reportedly Attracts Five Bidders in Auction

New major risk - Revenue and earnings growth

Adani Unit, ArcelorMittal, JSW Cement Reportedly in Race to Buy Vadraj Cement

New minor risk - Shareholder dilution

Third quarter 2023 earnings released: EPS: US$1.11 (vs US$1.11 in 3Q 2022)

New major risk - Revenue and earnings growth

New major risk - Revenue and earnings growth

ArcelorMittal Reportedly Weighs Possible Bid for US Steel Worth over $7 Billion

ArcelorMittal Reportedly Weighs Possible Bid for US Steel

New minor risk - Earnings quality

Second quarter 2023 earnings released: EPS: US$2.21 (vs US$4.25 in 2Q 2022)

TT Iron Steel Company Ltd. signed a sales and purchase agreement to acquire Point Lisas iron and steel plant from ArcelorMittal S.A. (ENXTAM:MT).

First quarter 2023 earnings released: EPS: US$1.28 (vs US$4.28 in 1Q 2022)

Arcelormittal S.A. Appoints Patricia Barbizet as Directors

Now 22% undervalued after recent price drop

Now 23% undervalued

Full year 2022 earnings released: EPS: US$10.21 (vs US$13.54 in FY 2021)

ArcelorMittal S.A. Proposes Annual Dividend

ArcelorMittal S.A. (ENXTAM:MT) signed an agreement to acquire Zaklad Przerobu Zlomu Zlomex S A.

ArcelorMittall and CIP Reportedly Bid for Iberdrola Assets

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

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