ARCELORMITTAL SA (ARCXF) Financials

ARCXF

FY2025 annual

Revenue $61.4B -1.7% YoY

Net Income $3.2B +135.0% YoY

EPS (Diluted) Not reported for FY2025

Operating Cash Flow $4.8B -0.9% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 6, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Mar 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ARCXF SEC filings page.

ARCELORMITTAL SA (ARCXF) reported $61.4B in revenue for fiscal year 2025, down 1.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ARCXF FY2025 2026-10-04

Profit recovered in FY2025, but the balance sheet grew faster than sales, leaving a more asset-heavy business with weaker returns.

Net income recovered from $1.0B in FY2023 to $3.2B in FY2025, but the improvement was not matched by cash generation. Operating cash flow fell from $9.9B in FY2021 to $4.8B in FY2025, indicating that earnings recovery and cash conversion have diverged across the period.

FY2025 revenue was $61.4B against $97.7B of assets, so the company is carrying a substantial asset base relative to its sales. Return on assets was only 3.3%, despite improving from 1.1% in FY2023; profit remains modest relative to the resources deployed.

The balance sheet combines a 1.4x current ratio with 0.2x debt-to-equity, showing positive short-term coverage without an aggressively debt-funded structure. Long-term debt nevertheless rose from $11.6B in FY2024 to $13.4B in FY2025, while inventory reached $18.6B, making working-capital management important to cash outcomes.

Financial Health Signals

Financial health score not available

ARCELORMITTAL SA does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

6/8

ARCELORMITTAL SA passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.48x

For every $1 of reported earnings, ARCELORMITTAL SA generates $1.48 in operating cash flow ($4.8B OCF vs $3.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$5.4B

YoY-15.8%

QoQ+0.6%

ARCELORMITTAL SA held $5.4B in cash against $13.4B in long-term debt as of Q4 2025.

Shares Outstanding

761M

YoY-1.0%

ARCELORMITTAL SA had 761M shares outstanding in Q4 2025. This represents a decrease of 1.0% from the same quarter a year earlier.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

ARCXF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ARCXF quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$61.4B-1.7%	$62.4B-8.5%	$68.3B-14.5%	$79.8B+4.3%	$76.6B+43.7%	$53.3B-24.6%	$70.6B-7.1%	$76.0B+10.7%	$68.7B+20.9%	$56.8B-10.7%	$63.6B
Interest Expense	$577.0M+13.1%	$510.0M-28.7%	$715.0M+78.3%	$401.0M+12.3%	$357.0M-25.2%	$477.0M-31.4%	$695.0M+1.2%	$687.0M-21.8%	$879.0M-25.0%	$1.2B-15.3%	$1.4B
Income Tax	$359.0M-76.6%	$1.5B+545.0%	$238.0M-86.1%	$1.7B-30.2%	$2.5B+47.7%	$1.7B+263.0%	$459.0M+231.5%	-$349.0M-180.8%	$432.0M-56.2%	$986.0M+9.3%	$902.0M
Net Income	$3.2B+135.0%	$1.4B+35.0%	$1.0B-89.3%	$9.5B-38.7%	$15.6B+2792.9%	-$578.0M+75.8%	-$2.4B-144.9%	$5.3B+16.5%	$4.6B+163.8%	$1.7B+120.6%	-$8.4B
Diluted Shares (Avg)	766M-3.2%	791M-6.4%	845M-7.5%	914M-17.5%	1.11B-2.8%	1.14B+12.5%	1.01B-0.8%	1.02B-0.3%	1.02B+7.2%	955M+23.7%	772M

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

ARCXF Balance Sheet

ARCXF quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$97.7B+9.3%	$89.4B-4.8%	$93.9B-0.7%	$94.5B+4.5%	$90.5B+10.3%	$82.1B-6.7%	$87.9B-3.7%	$91.2B+7.0%	$85.3B+13.5%	$75.1B	N/A
Current Assets	$30.6B+4.2%	$29.4B-11.6%	$33.2B-10.4%	$37.1B+6.2%	$34.9B+24.9%	$28.0B-2.2%	$28.6B-11.9%	$32.5B+21.4%	$26.7B+20.2%	$22.2B	N/A
Cash & Equivalents	$5.4B-15.8%	$6.4B-16.7%	$7.7B-17.4%	$9.3B+120.6%	$4.2B-24.7%	$5.6B+15.1%	$4.9B+124.1%	$2.2B-15.6%	$2.6B+2.9%	$2.5B-37.5%	$4.0B
Inventory	$18.6B+12.7%	$16.5B-12.0%	$18.8B-6.6%	$20.1B+1.2%	$19.9B+61.1%	$12.3B-28.7%	$17.3B-16.6%	$20.7B+15.3%	$18.0B+22.1%	$14.7B	N/A
Accounts Receivable	$3.5B+3.0%	$3.4B-7.8%	$3.7B-4.6%	$3.8B-25.4%	$5.1B+67.4%	$3.1B-13.9%	$3.6B-19.5%	$4.4B+14.7%	$3.9B+29.9%	$3.0B	N/A
Goodwill	$5.3B+17.9%	$4.5B-12.7%	$5.1B+4.1%	$4.9B+10.8%	$4.4B+2.6%	$4.3B-20.6%	$5.4B-5.2%	$5.7B-0.2%	$5.7B+1.5%	$5.7B	N/A
Total Liabilities	$41.2B+8.1%	$38.1B+0.7%	$37.8B-2.8%	$39.0B-0.5%	$39.2B-6.3%	$41.8B-11.8%	$47.4B+0.6%	$47.1B+6.1%	$44.4B+3.8%	$42.8B	N/A
Current Liabilities	$22.5B+3.2%	$21.8B+0.3%	$21.8B-2.8%	$22.4B-7.3%	$24.2B+6.6%	$22.7B+6.5%	$21.3B-9.2%	$23.5B+9.6%	$21.4B+18.2%	$18.1B	N/A
Non-Current Liabilities	$18.6B+14.6%	$16.3B+1.2%	$16.1B-2.9%	$16.6B+10.4%	$15.0B-21.7%	$19.1B-26.7%	$26.1B+10.4%	$23.7B+2.8%	$23.0B-6.8%	$24.7B	N/A
Long-Term Debt	$13.4B+16.0%	$11.6B+8.3%	$10.7B-8.3%	$11.7B+38.7%	$8.4B-31.8%	$12.3B-14.1%	$14.3B+45.3%	$9.9B-23.6%	$12.9B	N/A	N/A
Total Equity	$56.5B+10.2%	$51.3B-8.5%	$56.1B+0.9%	$55.6B+8.3%	$51.3B+27.6%	$40.2B-0.6%	$40.5B-8.2%	$44.1B+8.0%	$40.9B+26.4%	$32.3B+17.2%	$27.6B
Retained Earnings	$49.9B+5.6%	$47.3B+2.1%	$46.3B+1.8%	$45.4B+23.8%	$36.7B+66.1%	$22.1B-3.4%	$22.9B-10.7%	$25.6B+24.1%	$20.6B+28.6%	$16.0B	N/A

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Total Assets	$97.7B+9.3%	$98.9B+8.8%	$89.4B-4.8%	$90.8B-4.8%	$93.9B-0.7%	$95.4B-1.7%	$94.5B+4.5%	$97.0B+13.6%
Current Assets	$30.6B+4.2%	$33.0B+6.3%	$29.4B-11.6%	$31.0B-9.8%	$33.2B-10.4%	$34.4B-16.1%	$37.1B+6.2%	$41.0B+39.4%
Cash & Equivalents	$5.4B-15.8%	$5.4B-8.2%	$6.4B-16.7%	$5.8B+0.2%	$7.7B-17.4%	$5.8B+30.7%	$9.3B+120.6%	$4.5B+9.5%
Inventory	$18.6B+12.7%	$19.1B+8.1%	$16.5B-12.0%	$17.7B-11.7%	$18.8B-6.6%	$20.0B-14.0%	$20.1B+1.2%	$23.3B+43.1%
Accounts Receivable	$3.5B+3.0%	$4.6B+10.6%	$3.4B-7.8%	$4.2B-12.3%	$3.7B-4.6%	$4.8B-19.5%	$3.8B-25.4%	$5.9B+6.2%
Goodwill	$5.3B+17.9%	$5.3B+8.0%	$4.5B-12.7%	$4.9B-2.5%	$5.1B+4.1%	$5.1B+17.8%	$4.9B+10.8%	$4.3B-5.5%
Total Liabilities	$41.2B+8.1%	$42.4B+16.0%	$38.1B+0.7%	$36.5B-2.6%	$37.8B-2.8%	$37.5B-7.6%	$39.0B-0.5%	$40.6B+3.8%
Current Liabilities	$22.5B+3.2%	$23.6B+16.2%	$21.8B+0.3%	$20.3B-3.6%	$21.8B-2.8%	$21.1B-18.9%	$22.4B-7.3%	$26.0B+13.3%
Non-Current Liabilities	$18.6B+14.6%	$18.8B+15.8%	$16.3B+1.2%	$16.2B-1.3%	$16.1B-2.9%	$16.5B+12.7%	$16.6B+10.4%	$14.6B-9.7%
Long-Term Debt	$13.4B+16.0%	N/A	$11.6B+8.3%	N/A	$10.7B-8.3%	N/A	$11.7B+38.7%	N/A
Total Equity	$56.5B+10.2%	$56.5B+4.0%	$51.3B-8.5%	$54.3B-6.2%	$56.1B+0.9%	$57.9B+2.6%	$55.6B+8.3%	$56.4B+21.8%
Retained Earnings	$49.9B+5.6%	N/A	$47.3B+2.1%	N/A	$46.3B+1.8%	N/A	$45.4B+23.8%	N/A

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

ARCXF Cash Flow Statement

ARCXF quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$4.8B-0.9%	$4.9B-36.5%	$7.6B-25.1%	$10.2B+3.0%	$9.9B+142.7%	$4.1B-32.2%	$6.0B+43.4%	$4.2B-8.0%	$4.6B+68.5%	$2.7B+25.9%	$2.2B
Depreciation & Amortization	$2.9B+11.9%	$2.6B-1.6%	$2.7B+3.7%	$2.6B+2.3%	$2.5B-14.8%	$3.0B-3.5%	$3.1B+9.6%	$2.8B+1.1%	$2.8B+1.7%	$2.7B-14.8%	$3.2B
Investing Cash Flow	-$4.6B+8.7%	-$5.0B+14.7%	-$5.8B-30.4%	-$4.5B-1218.5%	-$340.0M+83.1%	-$2.0B+47.4%	-$3.8B-1.7%	-$3.8B-32.8%	-$2.8B-147.6%	-$1.1B+47.3%	-$2.2B
Financing Cash Flow	-$1.8B-159.7%	-$680.0M+81.5%	-$3.7B-668.6%	-$477.0M+95.6%	-$10.9B-627.5%	-$1.5B-391.4%	$514.0M+174.6%	-$689.0M+60.2%	-$1.7B+40.8%	-$2.9B-840.8%	$395.0M
Dividends Paid	$542.0M-6.6%	$580.0M+9.2%	$531.0M-19.9%	$663.0M+15.9%	$572.0M+216.0%	$181.0M-45.5%	$332.0M+50.9%	$220.0M+56.0%	$141.0M+131.1%	$61.0M-85.3%	$416.0M
Share Buybacks	$262.0M-79.8%	$1.3B+7.6%	$1.2B-58.9%	$2.9B-43.2%	$5.2B+934.0%	$500.0M+455.6%	$90.0M	N/A	N/A	N/A	N/A

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

ARCXF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ARCXF quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Net Margin	5.3%+3.1pp	2.2%+0.7pp	1.5%-10.4pp	11.9%-8.4pp	20.3%+21.4pp	-1.1%+2.3pp	-3.4%-10.4pp	7.0%+0.3pp	6.7%+3.6pp	3.0%+16.3pp	-13.3%
Return on Equity	5.7%+3.0pp	2.7%+0.9pp	1.8%-15.3pp	17.2%-13.2pp	30.3%+31.8pp	-1.4%+4.5pp	-5.9%-18.0pp	12.1%+0.9pp	11.2%+5.8pp	5.4%+35.9pp	-30.6%
Return on Assets	3.3%+1.8pp	1.5%+0.5pp	1.1%-9.0pp	10.1%-7.1pp	17.2%+17.9pp	-0.7%+2.0pp	-2.7%-8.6pp	5.8%+0.5pp	5.4%+3.1pp	2.3%	N/A
Current Ratio	1.360.0x	1.35-0.2x	1.53-0.1x	1.66+0.2x	1.45+0.2x	1.23-0.1x	1.340.0x	1.38+0.1x	1.250.0x	1.23	N/A
Debt-to-Equity	0.240.0x	0.230.0x	0.190.0x	0.210.0x	0.16-0.1x	0.310.0x	0.35+0.1x	0.22-0.1x	0.32-1.0x	1.32	N/A
Asset Turnover	0.63-0.1x	0.700.0x	0.73-0.1x	0.840.0x	0.85+0.2x	0.65-0.2x	0.800.0x	0.830.0x	0.810.0x	0.76	N/A

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Current Ratio	1.360.0x	1.40-0.1x	1.35-0.2x	1.53-0.1x	1.53-0.1x	1.63+0.1x	1.66+0.2x	1.58+0.3x
Debt-to-Equity	0.240.0x	0.75+0.1x	0.230.0x	0.670.0x	0.190.0x	0.65-0.1x	0.210.0x	0.72-0.1x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Where ARCELORMITTAL SA Ranks

Frequently Asked Questions

What is ARCELORMITTAL SA's annual revenue?

ARCELORMITTAL SA (ARCXF) reported $61.4B in total revenue for fiscal year 2025. This represents a -1.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ARCELORMITTAL SA's revenue growing?

ARCELORMITTAL SA (ARCXF) revenue declined by 1.7% year-over-year, from $62.4B to $61.4B in fiscal year 2025.

Is ARCELORMITTAL SA profitable?

Yes, ARCELORMITTAL SA (ARCXF) reported a net income of $3.2B in fiscal year 2025, with a net profit margin of 5.3%.

How much debt does ARCELORMITTAL SA have?

As of fiscal year 2025, ARCELORMITTAL SA (ARCXF) had $5.4B in cash and equivalents against $13.4B in long-term debt.

What is ARCELORMITTAL SA's net profit margin?

ARCELORMITTAL SA (ARCXF) had a net profit margin of 5.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is ARCELORMITTAL SA's return on equity (ROE)?

ARCELORMITTAL SA (ARCXF) has a return on equity of 5.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ARCELORMITTAL SA's operating cash flow?

ARCELORMITTAL SA (ARCXF) generated $4.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ARCELORMITTAL SA's total assets?

ARCELORMITTAL SA (ARCXF) had $97.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Does ARCELORMITTAL SA buy back shares?

Yes, ARCELORMITTAL SA (ARCXF) spent $262.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does ARCELORMITTAL SA have outstanding?

ARCELORMITTAL SA (ARCXF) had 761M shares outstanding as of fiscal year 2025.

What is ARCELORMITTAL SA's current ratio?

ARCELORMITTAL SA (ARCXF) had a current ratio of 1.36 as of fiscal year 2025, which is considered adequate.

What is ARCELORMITTAL SA's debt-to-equity ratio?

ARCELORMITTAL SA (ARCXF) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ARCELORMITTAL SA's return on assets (ROA)?

ARCELORMITTAL SA (ARCXF) had a return on assets of 3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ARCELORMITTAL SA's Piotroski F-Score?

ARCELORMITTAL SA (ARCXF) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ARCELORMITTAL SA's earnings high quality?

ARCELORMITTAL SA (ARCXF) has an earnings quality ratio of 1.48x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.