ArcelorMittal
MT · Steel
$59.43
1.2%Reliance
RS · Steel
$415.62
0.6%The short version
- ArcelorMittal is the larger business, with $61.4B of revenue in fiscal 2025 against $14.3B for Reliance, about 4.3 times as much.
- Reliance grew revenue faster (3.3%, against −1.7%).
- Reliance kept more of each dollar of sales as operating profit (7.1% operating margin, against 5.9% operating margin).
- Reliance turned more of its sales into free cash flow (3.5% FCF margin, against 0.8% FCF margin).
- Reliance earned a higher return on the capital invested in it (9.4%, against 5.4%).
| Latest fiscal year | MT · FY25 | RS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $45.5B | $21.6B |
| Revenue | $61.4B | $14.3B |
| Free cash flow | $471M | $503M |
| Net income | $3.2B | $739M |
| Growth | ||
| Revenue growth | −1.7% | 3.3% |
| 5-year growth | 2.9% | 10.2% |
| Share count change | −3.2% | −6.0% |
| Profitability | ||
| Gross margin | 7.1% | — |
| Operating margin | 5.9% | 7.1% |
| Net margin | 5.1% | 5.2% |
| FCF margin | 0.8% | 3.5% |
| Return on capital | 5.4% | 9.4% |
| Return on equity | 6.1% | 10.3% |
| Balance sheet | ||
| Net debt | $7.8B | $1.2B |
| Net debt / EBITDA | 1.2x | 0.9x |
| Dividends and buybacks | $804M | $594M |
| Valuation & quality | ||
| P/E | — | 27.1x |
| Piotroski F-score | 7 | 6 |
FY16
MT $56.8B
RS $8.6B
FY17
MT $68.7B
RS $9.7B
FY18
MT $76.0B
RS $11.5B
FY19
MT $70.6B
RS $11.0B
FY20
MT $53.3B
RS $8.8B
FY21
MT $76.6B
RS $14.1B
FY22
MT $79.8B
RS $17.0B
FY23
MT $68.3B
RS $14.8B
FY24
MT $62.4B
RS $13.8B
FY25
MT $61.4B
RS $14.3B
MT
RS
FY16
MT 7.3%
RS 6.0%
FY17
MT 7.9%
RS 6.8%
FY18
MT 8.6%
RS 8.1%
FY19
MT −0.9%
RS 9.2%
FY20
MT 4.0%
RS 6.4%
FY21
MT 22.2%
RS 13.8%
FY22
MT 12.9%
RS 14.7%
FY23
MT 3.4%
RS 11.8%
FY24
MT 5.3%
RS 8.4%
FY25
MT 5.9%
RS 7.1%
MT
RS
FY16
MT $264M
RS $472M
FY17
MT $1.7B
RS $237M
FY18
MT $891M
RS $425M
FY19
MT $2.4B
RS $1.1B
FY20
MT $1.6B
RS $1.0B
FY21
MT $6.9B
RS $563M
FY22
MT $6.7B
RS $1.8B
FY23
MT $3.0B
RS $1.2B
FY24
MT $447M
RS $999M
FY25
MT $471M
RS $503M
MT
RS
FY16
MT —
RS 6.4%
FY17
MT 10.6%
RS 10.8%
FY18
MT 12.4%
RS 10.9%
FY19
MT −1.0%
RS 11.6%
FY20
MT 2.2%
RS 7.0%
FY21
MT 28.7%
RS 21.7%
FY22
MT 15.4%
RS 26.2%
FY23
MT 3.3%
RS 18.0%
FY24
MT 2.9%
RS 11.3%
FY25
MT 5.4%
RS 9.4%
MT
RS
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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.