ArcelorMittal (MT) Return on Capital Employed [ROCE] (2009 - 2026)
ArcelorMittal (MT) reported Return on Capital Employed [ROCE] of 3.51% for Q2 2026, down 2.01 percentage points from 5.52% a year earlier and down 1.17 percentage points from the prior quarter.
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Analysis
ArcelorMittal (MT) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, ArcelorMittal posted Return on Capital Employed [ROCE] of 5.11%, up 0.37 percentage points from FY2024.
- Return on Capital Employed [ROCE] has a five-year change of +1.72 percentage points (FY2020 to FY2025).
- By year, Return on Capital Employed [ROCE] came in at 4.74% in FY2024 (+1.51 pp), 3.23% in FY2023 (-11.42 pp), 14.65% in FY2022 (-11.42 pp) and 26.06% in FY2021 (+22.68 pp).
- The Q2 2026 figure ranks as the lowest quarterly Return on Capital Employed [ROCE] since Q3 2024.
- Year over year, Return on Capital Employed [ROCE] gained in six of the last eight quarters, with an average year-over-year change of +0.56 percentage points.
- The high point for year-over-year Return on Capital Employed [ROCE] in five years was Q4 2021 (a gain of 22.52 percentage points); the low point was Q2 2023 (a drop of 20.41 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 4.68% (Q1 2026), 4.79% (Q4 2025) and 5.08% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 170.99 Bn | 133.79 Bn | - | - |
| 2 | Southern Copper | 146.42 Bn | 121.15 Bn | 3.10 Bn | 45.35% |
| 3 | Rio Tinto | 139.98 Bn | 100.80 Bn | - | - |
| 4 | Newmont | 132.34 Bn | 97.49 Bn | 4.22 Bn | 10.69% |
| 5 | Agnico Eagle Mines | 100.36 Bn | 87.30 Bn | 2.15 Bn | 26.02% |
| 6 | Ternium | 99.86 Bn | 68.11 Bn | 1.04 Bn | 7.47% |
| 7 | Freeport-Mcmoran | 90.01 Bn | 74.05 Bn | 2.19 Bn | 13.20% |
| 8 | Barrick Mining | 72.53 Bn | 47.73 Bn | 2.90 Bn | 22.21% |
| 9 | Nucor | 56.81 Bn | 46.19 Bn | 2.03 Bn | 13.42% |
| 10 | ArcelorMittal | 48.91 Bn | 30.47 Bn | - | 2.63% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.63% |
| Jun 30, 2026 | 3.51% |
| Mar 31, 2026 | 4.68% |
| Dec 31, 2025 | 4.79% |
| Sep 30, 2025 | 5.08% |
| Jun 30, 2025 | 5.52% |
| Mar 31, 2025 | 4.48% |
| Dec 31, 2024 | 4.77% |
| Sep 30, 2024 | 1.13% |
| Jun 30, 2024 | 1.89% |
| Mar 31, 2024 | 3.06% |
| Dec 31, 2023 | 3.25% |
| Sep 30, 2023 | 5.41% |
| Jun 30, 2023 | 6.01% |
| Mar 31, 2023 | 9.75% |
| Dec 31, 2022 | 14.57% |
| Sep 30, 2022 | 21.14% |
| Jun 30, 2022 | 26.41% |
| Mar 31, 2022 | 27.64% |
| Dec 31, 2021 | 26.06% |
API Access
ArcelorMittal Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=MT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=MT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();