Arcelormittal Financials

ARCXF

FY2025 annual

Revenue $61.4B -1.7% YoY

Net Income $3.2B +135.0% YoY

EPS (Diluted) Not reported for FY2025

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

Arcelormittal (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 2026-08-15

Profit recovered faster than cash as inventory-heavy operations kept liquidity tighter even while leverage stayed modest.

By FY2025, inventory climbed to $18.6B even as revenue slipped to $61.4B. At the same time, cash fell from $9.3B at its FY2022 peak to $5.4B, which says the business became less self-funding because more capital stayed tied up on the balance sheet instead of returning to cash.

FY2025 net income rose to $3.2B from $1.4B. Operating cash flow stayed near $4.8B across the last two years, so the earnings rebound did not bring a matching step-up in cash generation or in near-term financial flexibility.

The balance sheet still looks serviceable rather than debt-driven: long-term debt was $13.4B against equity of $56.5B, and interest expense remained small. But investing outflows of $4.6B were almost as large as operating cash flow, which left little internally generated cash for the buyback program or other discretionary returns, now down to $262M.

Financial Health Signals

Financial health score not available

Arcelormittal 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 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 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

Revenue

$61.4B

YoY-1.7%

5Y CAGR+2.9%

10Y CAGR-0.4%

Arcelormittal generated $61.4B in revenue in fiscal year 2025. This represents a decrease of 1.7% from the prior year.

Net Income

$3.2B

YoY+135.0%

Arcelormittal reported $3.2B in net income in fiscal year 2025. This represents an increase of 135.0% from the prior year.

EBITDA

Not reported for fiscal year 2025.

EPS (Diluted)

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$5.4B

YoY-15.8%

5Y CAGR-0.8%

10Y CAGR+3.0%

Arcelormittal held $5.4B in cash against $13.4B in long-term debt as of fiscal year 2025.

Shares Outstanding

761M

YoY-1.0%

5Y CAGR-6.8%

Arcelormittal had 761M shares outstanding in fiscal year 2025. This represents a decrease of 1.0% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

5.3%

YoY+3.1pp

5Y CAGR+6.4pp

10Y CAGR+18.5pp

Arcelormittal's net profit margin was 5.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.1 percentage points from the prior year.

Return on Equity

5.7%

YoY+3.0pp

5Y CAGR+7.2pp

10Y CAGR+36.3pp

Arcelormittal's ROE was 5.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.0 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$262.0M

YoY-79.8%

5Y CAGR-12.1%

Arcelormittal spent $262.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 79.8% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 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.

ARCXF annual income statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
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	$60.0M+9.1%	$55.0M0.0%	$55.0M+61.8%	$34.0M+3.0%	$33.0M-50.0%	$66.0M-32.7%	$98.0M+104.4%	-$2.2B-152.6%	-$875.0M+57.4%	-$2.1B+28.1%	-$2.9B
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

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).

ARCXF Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ARCXF annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
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
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	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$97.7B-1.2%	$98.9B+10.6%	$89.4B-1.6%	$90.8B-3.3%	$93.9B-1.6%	$95.4B+0.9%	$94.5B-2.6%	$97.0B
Current Assets	$30.6B-7.2%	$33.0B+12.2%	$29.4B-5.2%	$31.0B-6.7%	$33.2B-3.3%	$34.4B-7.4%	$37.1B-9.4%	$41.0B
Cash & Equivalents	$5.4B+0.6%	$5.4B-16.3%	$6.4B+9.6%	$5.8B-24.0%	$7.7B+31.9%	$5.8B-37.4%	$9.3B+108.7%	$4.5B
Inventory	$18.6B-2.8%	$19.1B+15.9%	$16.5B-6.7%	$17.7B-5.7%	$18.8B-6.4%	$20.0B-0.3%	$20.1B-13.8%	$23.3B
Accounts Receivable	$3.5B-24.9%	$4.6B+37.1%	$3.4B-19.4%	$4.2B+14.3%	$3.7B-23.3%	$4.8B+24.4%	$3.8B-35.3%	$5.9B
Goodwill	$5.3B-1.7%	$5.3B+20.0%	$4.5B-10.0%	$4.9B-3.0%	$5.1B+0.6%	$5.1B+3.5%	$4.9B+13.8%	$4.3B
Total Liabilities	$41.2B-2.9%	$42.4B+11.3%	$38.1B+4.2%	$36.5B-3.4%	$37.8B+0.9%	$37.5B-3.7%	$39.0B-4.0%	$40.6B
Current Liabilities	$22.5B-4.6%	$23.6B+8.1%	$21.8B+7.5%	$20.3B-6.7%	$21.8B+3.4%	$21.1B-6.0%	$22.4B-13.8%	$26.0B
Long-Term Debt	$13.4B	N/A	$11.6B	N/A	$10.7B	N/A	$11.7B	N/A
Total Equity	$56.5B+0.1%	$56.5B+10.1%	$51.3B-5.5%	$54.3B-3.2%	$56.1B-3.2%	$57.9B+4.2%	$55.6B-1.5%	$56.4B
Retained Earnings	$49.9B	N/A	$47.3B	N/A	$46.3B	N/A	$45.4B	N/A

ARCXF Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ARCXF annual cash flow statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
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
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

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

ARCXF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

ARCXF annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
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

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Current Ratio	1.360.0x	1.40+0.1x	1.35-0.2x	1.530.0x	1.53-0.1x	1.630.0x	1.66+0.1x	1.58
Debt-to-Equity	0.24-0.5x	0.75+0.5x	0.23-0.4x	0.67+0.5x	0.19-0.5x	0.65+0.4x	0.21-0.5x	0.72

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

Where Arcelormittal Ranks

Frequently Asked Questions

What is Arcelormittal's annual revenue?

Arcelormittal (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's revenue growing?

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

Is Arcelormittal profitable?

Yes, Arcelormittal (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 have?

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

What is Arcelormittal's net profit margin?

Arcelormittal (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's return on equity (ROE)?

Arcelormittal (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's operating cash flow?

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

What are Arcelormittal's total assets?

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

Does Arcelormittal buy back shares?

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

How many shares does Arcelormittal have outstanding?

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

What is Arcelormittal's current ratio?

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

What is Arcelormittal's debt-to-equity ratio?

Arcelormittal (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's return on assets (ROA)?

Arcelormittal (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's Piotroski F-Score?

Arcelormittal (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's earnings high quality?

Arcelormittal (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.