ArcelorMittal (MT) EV to FCF (2009 - 2026)
ArcelorMittal's EV to FCF came in at 4.45 for Q2 2026, up 92.5% from 2.31 a year earlier and up 17.1% from the prior quarter.
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Analysis
ArcelorMittal (MT) EV to FCF (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, ArcelorMittal reported EV to FCF of 2.81, up 591.7% year-over-year; for FY2025, it came in at 3.41, up 140.2% from FY2024.
- EV to FCF has increased in each of the last three years.
- Going back by year, EV to FCF was 1.42 in FY2024 (+2.1%), 1.39 in FY2023 (+41.6%), 0.98 in FY2022 (-47.3%) and 1.86 in FY2021 (-41.5%).
- The Q2 2026 figure represents the highest quarterly EV to FCF since Q1 2019.
- Year-over-year, EV to FCF has increased for 13 consecutive quarters, with growth averaging 63.3% over the last eight quarters.
- The fastest year-over-year change in EV to FCF over five years came in Q4 2025 (growth of 140.2%), and the weakest in Q2 2022 (a decline of 71.2%).
- Business Quant data shows MT's EV to FCF at 3.80 (Q1 2026), 3.41 (Q4 2025) and 2.84 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Rio Tinto | 182.38 Bn | 151.41 Bn | - |
| 2 | Southern Copper | 169.19 Bn | 147.98 Bn | 2.90 Bn |
| 3 | Rio Tinto | 142.83 Bn | 103.33 Bn | - |
| 4 | Newmont | 124.98 Bn | 92.98 Bn | 4.03 Bn |
| 5 | Freeport-Mcmoran | 99.28 Bn | 83.32 Bn | 2.19 Bn |
| 6 | Agnico Eagle Mines | 93.88 Bn | 83.51 Bn | 2.43 Bn |
| 7 | Barrick Mining | 69.20 Bn | 44.40 Bn | 2.90 Bn |
| 8 | Nucor | 58.94 Bn | 48.32 Bn | 2.03 Bn |
| 9 | ArcelorMittal | 48.21 Bn | 27.23 Bn | - |
| 10 | AngloGold Ashanti | 46.53 Bn | 34.42 Bn | 1.70 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.45 |
| Mar 31, 2026 | 3.80 |
| Dec 31, 2025 | 3.41 |
| Sep 30, 2025 | 2.84 |
| Jun 30, 2025 | 2.31 |
| Mar 31, 2025 | 2.17 |
| Dec 31, 2024 | 1.42 |
| Sep 30, 2024 | 1.77 |
| Jun 30, 2024 | 1.39 |
| Mar 31, 2024 | 1.67 |
| Dec 31, 2023 | 1.39 |
| Sep 30, 2023 | 1.27 |
| Jun 30, 2023 | 1.36 |
| Mar 31, 2023 | 1.55 |
| Dec 31, 2022 | 0.98 |
| Sep 30, 2022 | 1.11 |
| Jun 30, 2022 | 1.03 |
| Mar 31, 2022 | 1.87 |
| Dec 31, 2021 | 1.86 |
| Sep 30, 2021 | 3.14 |
API Access
ArcelorMittal EV to FCF API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-fcf&ticker=MT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "ticker": "MT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-fcf&ticker=MT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();