ArcelorMittal
MT · Steel
$59.43
1.2%Steel Dynamics
STLD · Steel
$241.53
0.7%The short version
- ArcelorMittal is the larger business, with $61.4B of revenue in fiscal 2025 against $18.2B for Steel Dynamics, about 3.4 times as much.
- Steel Dynamics grew revenue faster (3.6%, against −1.7%).
- Steel Dynamics kept more of each dollar of sales as operating profit (8.1% operating margin, against 5.9% operating margin).
- Steel Dynamics turned more of its sales into free cash flow (2.8% FCF margin, against 0.8% FCF margin).
- Steel Dynamics earned a higher return on the capital invested in it (10.0%, against 5.4%).
| Latest fiscal year | MT · FY25 | STLD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $45.5B | $34.7B |
| Revenue | $61.4B | $18.2B |
| Free cash flow | $471M | $502M |
| Net income | $3.2B | $1.2B |
| Growth | ||
| Revenue growth | −1.7% | 3.6% |
| 5-year growth | 2.9% | 13.6% |
| Share count change | −3.2% | −5.0% |
| Profitability | ||
| Gross margin | 7.1% | 13.2% |
| Operating margin | 5.9% | 8.1% |
| Net margin | 5.1% | 6.5% |
| FCF margin | 0.8% | 2.8% |
| Return on capital | 5.4% | 10.0% |
| Return on equity | 6.1% | 13.3% |
| Balance sheet | ||
| Net debt | $7.8B | $3.4B |
| Net debt / EBITDA | 1.2x | 1.7x |
| Dividends and buybacks | $804M | $1.2B |
| Valuation & quality | ||
| P/E | — | 17.8x |
| Piotroski F-score | 7 | 6 |
FY16
MT $56.8B
STLD $7.8B
FY17
MT $68.7B
STLD $9.5B
FY18
MT $76.0B
STLD $11.8B
FY19
MT $70.6B
STLD $10.5B
FY20
MT $53.3B
STLD $9.6B
FY21
MT $76.6B
STLD $18.4B
FY22
MT $79.8B
STLD $22.3B
FY23
MT $68.3B
STLD $18.8B
FY24
MT $62.4B
STLD $17.5B
FY25
MT $61.4B
STLD $18.2B
MT
STLD
FY16
MT 7.3%
STLD 9.4%
FY17
MT 7.9%
STLD 11.2%
FY18
MT 8.6%
STLD 14.6%
FY19
MT −0.9%
STLD 9.4%
FY20
MT 4.0%
STLD 8.8%
FY21
MT 22.2%
STLD 23.4%
FY22
MT 12.9%
STLD 22.9%
FY23
MT 3.4%
STLD 16.8%
FY24
MT 5.3%
STLD 11.1%
FY25
MT 5.9%
STLD 8.1%
MT
STLD
FY16
MT $264M
STLD $655M
FY17
MT $1.7B
STLD $574M
FY18
MT $891M
STLD $1.2B
FY19
MT $2.4B
STLD $944M
FY20
MT $1.6B
STLD −$211M
FY21
MT $6.9B
STLD $1.2B
FY22
MT $6.7B
STLD $3.6B
FY23
MT $3.0B
STLD $1.9B
FY24
MT $447M
STLD −$23.5M
FY25
MT $471M
STLD $502M
MT
STLD
FY16
MT —
STLD 10.7%
FY17
MT 10.6%
STLD 20.8%
FY18
MT 12.4%
STLD 27.7%
FY19
MT −1.0%
STLD 15.1%
FY20
MT 2.2%
STLD 12.5%
FY21
MT 28.7%
STLD 47.8%
FY22
MT 15.4%
STLD 47.1%
FY23
MT 3.3%
STLD 26.3%
FY24
MT 2.9%
STLD 14.5%
FY25
MT 5.4%
STLD 10.0%
MT
STLD
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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.