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MT

ArcelorMittal SA ADR

NYSE: MT · BASIC MATERIALS · STEEL

$55.92
-3.42% today

Updated 2026-04-29

Market cap
$42.56B
P/E ratio
13.61
P/S ratio
0.69x
EPS (TTM)
$4.11
Dividend yield
1.04%
52W range
$29 – $68
Volume
1.8M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

ArcelorMittal SA ADR (MT) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$55.92
Consensus
$52.97
-5.28%
2030 Target
$1,307.12
+2237.48%
DCF
$51.66
-29.02% MoS
6 analysts:
2 Buy3 Hold1 Sell

Management guidance

No specific CEO revenue targets disclosed in available data. Management has announced $16B investment in India green steel plant and €1.3B Dunkirk EAF investment, indicating strategic focus on capacity expansion and decarbonization rather than near-term revenue guidance. Company produced 55.6M metric tonnes crude steel in 2025.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$2,180.30
$83.5B Rev × 20x P/S
Base case (2030)
$1,307.12
$83.5B Rev × 12x P/S
Bear case (2030)
$873.18
$83.5B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$68.3B$62.4B$61.4B$69.1B$72.3B$75.5B$79.2B$83.5B
Revenue growth—-8.5%-1.7%12.6%4.6%4.5%4.9%5.4%
EPS$5.75$2.94$3.84$5.37$6.70$7.25$7.95$8.75
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$1,079.57$1,132.49$1,180.12$1,238.33$1,307.12

Catalysts & risks

Growth catalysts
+ $16B India green steel plant launch (Andhra Pradesh) - will add significant capacity by 2028-2029
+ €1.3B Dunkirk electric arc furnace project - low-carbon steel expansion targeting EU green steel demand
+ ArcelorMittal Nippon Steel India expansion - new CEO (Amit Harlalka) effective July 2026 signals growth acceleration
+ Resolution of Ukraine CBAM export issues - potential recovery of 300k+ tons Q1 2026 cancelled orders
+ North American pricing strength - KeyBanc noted stronger 2026 projections for NA and Brazilian pricing
Key risks
- EU Carbon Border Adjustment Mechanism (CBAM) - forcing Ukrainian operations to halt EU exports, threatening 50% of annual production
- Global steel oversupply - macro headwinds in Europe amid stagflation concerns and weak automotive demand
- Geopolitical disruption - Middle East tensions, Ukraine war impacts on Kryvyi Rih operations and supply chains
- Energy cost volatility - Europe facing high energy costs limiting margin expansion despite volume growth
- Capital intensity of green transition - heavy capex ($16B India, €1.3B Dunkirk, €290M Luxembourg) will pressure near-term margins
- JP Morgan downgrade (March 2026) - negative outlook on iron ore and copper reflects commodity price weakness

Methodology

ArcelorMittal SA ADR's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 6 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.