ArcelorMittal
MT · NYSESteel Works, Blast Furnaces & Rolling Mills (Coke Ovens) · Fiscal year ends Dec 31
Net income was $3.2B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cost of revenue | $57.3B | $67.3B | $63.5B | $56.7B | $57B |
| Gross profit | $19.2B | $12.5B | $4.7B | $5.8B | $4.4B |
| Research & development | $270M | $286M | $299M | $285M | $335M |
| Selling, general & admin | $2.3B | $2.3B | $2.4B | $2.5B | $2.6B |
| Operating income | $17B | $10.3B | $2.3B | $3.3B | $3.6B |
| Interest expense | $357M | $401M | $715M | $510M | $577M |
| Pre-tax income | $18B | $11.3B | $1.3B | $2.9B | $3.6B |
| Income tax | $2.5B | $1.7B | $238M | $1.5B | $359M |
| Net income | $15.6B | $9.5B | $1B | $1.4B | $3.2B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $4.2B | $9.3B | $7.7B | $6.4B | $5.4B |
| Receivables | $5.1B | $3.8B | $3.7B | $3.4B | $3.5B |
| Inventory | $19.9B | $20.1B | $18.8B | $16.5B | $18.6B |
| Current assets | $34.9B | $37.1B | $33.2B | $29.4B | $30.6B |
| Net PP&E | $30.1B | $30.2B | $33.7B | $33.3B | $41B |
| Total assets | $90.5B | $94.5B | $93.9B | $89.4B | $97.7B |
| Payables | $15.1B | $13.5B | $13.6B | $12.9B | $13B |
| Current liabilities | $24.2B | $22.4B | $21.8B | $21.8B | $22.5B |
| Total liabilities | $39.2B | $39B | $37.8B | $38.1B | $41.2B |
| Shareholders' equity | $49.1B | $53.2B | $54B | $49.2B | $54.5B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $9.9B | $10.2B | $7.6B | $4.9B | $4.8B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating income growth (YoY) | – | −39.5% | −77.2% | 41.5% | 9.6% |
| Return on equityBlank when equity is negative | 31.7% | 17.9% | 1.9% | 2.8% | 6.0% |
| ROCEEBIT ÷ (assets − current liabilities) | 25.6% | 14.2% | 3.2% | 4.9% | 4.8% |
| Cash conversion (CFO ÷ net income) | 0.64x | 1.07x | 7.48x | 3.52x | 1.48x |
| Inventory days | 126 | 109 | 108 | 106 | 119 |
| Payable days | 96 | 73 | 78 | 83 | 83 |
| Interest cover | 47.6x | 25.6x | 3.27x | 6.49x | 6.29x |
| Current ratio | 1.45x | 1.66x | 1.53x | 1.35x | 1.36x |
Recent filings
More in Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.