ArcelorMittal
MT Β· Steel
$59.43
οΏ½οΏ½Rio Tinto
RIO Β· Diversified Metals & Mining
$83.42
οΏ½οΏ½The short version
- ArcelorMittal is the larger business, with $61.4B of revenue in fiscal 2025 against $57.6B for Rio Tinto.
- Rio Tinto grew revenue faster (7.4%, against β1.7%).
- Rio Tinto kept more of each dollar of sales as operating profit (25.9% operating margin, against 5.9% operating margin).
- Rio Tinto turned more of its sales into free cash flow (7.8% FCF margin, against 0.8% FCF margin).
- Rio Tinto earned a higher return on the capital invested in it (14.9%, against 5.4%).
| Latest fiscal year | MT Β· FY25 | RIO Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $45.5B | $136.6B |
| Revenue | $61.4B | $57.6B |
| Free cash flow | $471M | $4.5B |
| Net income | $3.2B | $10.0B |
| Growth | ||
| Revenue growth | β1.7% | 7.4% |
| 5-year growth | 2.9% | 5.3% |
| Share count change | β3.2% | 0.3% |
| Profitability | ||
| Gross margin | 7.1% | β |
| Operating margin | 5.9% | 25.9% |
| Net margin | 5.1% | 17.3% |
| FCF margin | 0.8% | 7.8% |
| Return on capital | 5.4% | 14.9% |
| Return on equity | 6.1% | 17.0% |
| Balance sheet | ||
| Net debt | $7.8B | $12.5B |
| Net debt / EBITDA | 1.2x | 0.6x |
| Dividends and buybacks | $804M | $6.1B |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 7 | 4 |
FY16
MT $56.8B
RIO $33.8B
FY17
MT $68.7B
RIO $40.0B
FY18
MT $76.0B
RIO $40.5B
FY19
MT $70.6B
RIO $43.2B
FY20
MT $53.3B
RIO $44.6B
FY21
MT $76.6B
RIO $63.5B
FY22
MT $79.8B
RIO $55.6B
FY23
MT $68.3B
RIO $54.0B
FY24
MT $62.4B
RIO $53.7B
FY25
MT $61.4B
RIO $57.6B
MT
RIO
FY16
MT 7.3%
RIO 20.1%
FY17
MT 7.9%
RIO 35.3%
FY18
MT 8.6%
RIO 43.7%
FY19
MT β0.9%
RIO 26.6%
FY20
MT 4.0%
RIO 37.7%
FY21
MT 22.2%
RIO 47.0%
FY22
MT 12.9%
RIO 35.9%
FY23
MT 3.4%
RIO 27.4%
FY24
MT 5.3%
RIO 29.2%
FY25
MT 5.9%
RIO 25.9%
MT
RIO
FY16
MT $264M
RIO $5.5B
FY17
MT $1.7B
RIO $9.4B
FY18
MT $891M
RIO $6.4B
FY19
MT $2.4B
RIO $9.4B
FY20
MT $1.6B
RIO $9.7B
FY21
MT $6.9B
RIO $18.0B
FY22
MT $6.7B
RIO $9.4B
FY23
MT $3.0B
RIO $8.1B
FY24
MT $447M
RIO $6.0B
FY25
MT $471M
RIO $4.5B
MT
RIO
FY16
MT β
RIO β
FY17
MT 10.6%
RIO 17.5%
FY18
MT 12.4%
RIO 25.6%
FY19
MT β1.0%
RIO 14.3%
FY20
MT 2.2%
RIO 21.9%
FY21
MT 28.7%
RIO 39.5%
FY22
MT 15.4%
RIO β
FY23
MT 3.3%
RIO β
FY24
MT 2.9%
RIO 19.3%
FY25
MT 5.4%
RIO 14.9%
MT
RIO
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.