ArcelorMittal S.A. (MT) Income Statement
MT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMT revenue and net income
Where MT's revenue goes
2025Each bar shows an amount and its share of revenue. MT kept 5.1% of revenue as net income.
MT profit margins
MT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −1.7% | −8.4% | +2.9% | −0.4% |
| Gross profit | +2.0% | −24.9% | +4.9% | — |
| Operating income | +9.6% | −29.3% | +11.4% | — |
| Net income | +135.4% | −30.3% | — | — |
| EPS (diluted) | +30.6% | −30.2% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MT quarterly EPS vs estimates
ArcelorMittal beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.80).
MT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $61.35B | $62.44B | $68.28B | $79.84B | $76.57B | $53.27B | $70.61B | $76.03B | $68.68B | $56.79B |
| Cost of revenue | $55.45B | $56.65B | $62.50B | $65.88B | $57.52B | $48.62B | $66.96B | $67.03B | $60.88B | $50.43B |
| Gross profit | $5.91B | $5.79B | $5.78B | $13.96B | $19.05B | $4.64B | $3.65B | $9.01B | $7.80B | $6.36B |
| Research & development | — | $285.0M | $299.0M | $286.0M | $270.0M | $245.0M | $301.0M | $290.0M | $278.0M | $239.0M |
| Sales, general & admin | $2.61B | $2.48B | $2.40B | $1.98B | $1.99B | $2.02B | $2.35B | $2.47B | $2.37B | $2.20B |
| Total operating expenses | $2.28B | $2.48B | $3.44B | $3.69B | $2.07B | $2.54B | $4.28B | $2.47B | $2.37B | $2.20B |
| Operating income | $3.63B | $3.31B | $2.34B | $10.27B | $16.98B | $2.11B | −$627.0M | $6.54B | $5.43B | $4.16B |
| Interest income | $74.0M | $400.0M | $570.0M | $983.0M | $1.05B | $1.02B | $576.0M | $770.0M | $749.0M | $366.0M |
| Interest expense | $296.9M | $510.0M | $715.0M | $401.0M | $357.0M | $477.0M | $695.0M | $687.0M | $879.0M | $1.17B |
| Income before taxes | $3.60B | $2.92B | $1.26B | $11.26B | $18.02B | $1.09B | −$1.93B | $4.98B | $5.01B | $2.72B |
| Income taxes | $359.0M | $1.53B | $238.0M | $1.72B | $2.46B | $1.67B | $459.0M | −$349.0M | $432.0M | $986.0M |
| Net income | $3.15B | $1.34B | $919.0M | $9.30B | $14.96B | −$733.0M | −$2.45B | $5.15B | $4.57B | $1.78B |
| EBITDA | $5.91B | $6.06B | $5.81B | $14.23B | $19.15B | $5.26B | $3.96B | $9.77B | $8.41B | $7.09B |
| EPS (diluted) | $3.84 | $2.94 | $5.75 | $11.30 | $13.37 | −$0.88 | $0.26 | $5.84 | $4.66 | $0.95 |
| Gross margin | 9.6% | 9.3% | 8.5% | 17.5% | 24.9% | 8.7% | 5.2% | 11.8% | 11.4% | 11.2% |
| Operating margin | 5.9% | 5.3% | 3.4% | 12.9% | 22.2% | 4.0% | −0.9% | 8.6% | 7.9% | 7.3% |
| Net margin | 5.1% | 2.1% | 1.3% | 11.7% | 19.5% | −1.4% | −3.5% | 6.8% | 6.7% | 3.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.76B | $15.46B | $14.97B | $15.66B | $15.93B | $14.80B | $14.71B | $15.20B | $16.25B | $16.28B | $14.55B | $16.62B |
| Cost of revenue | $15.71B | $13.96B | $13.58B | $14.28B | $0 | $13.32B | $13.25B | $13.78B | $12.88B | $14.57B | $61.57B | $662.0M |
| Gross profit | $1.05B | $1.50B | $1.39B | $1.38B | $15.93B | $1.48B | $1.46B | $1.42B | $16.25B | $1.71B | −$47.01B | $15.95B |
| Research & development | — | — | — | — | — | — | — | — | $149.0M | $149.0M | $148.2M | — |
| Total operating expenses | $15.71B | $749.0M | $1.06B | $833.0M | $13.99B | $656.0M | $931.0M | $756.0M | $15.20B | $642.0M | −$45.03B | $14.75B |
| Operating income | $1.05B | $753.0M | $327.0M | $544.0M | $1.93B | $825.0M | $529.0M | $663.0M | $1.05B | $1.07B | −$1.98B | $1.20B |
| Interest income | — | — | $335.0M | $39.0M | $134.0M | $166.0M | $269.0M | $42.0M | — | — | — | $30.0M |
| Interest expense | $502.0M | $133.0M | $91.0M | $84.0M | $73.0M | $48.0M | $432.0M | $8.0M | $520.0M | $63.0M | $34.0M | $31.0M |
| Income before taxes | $862.0M | $717.0M | −$8.0M | $505.0M | $2.11B | $991.0M | $343.0M | $614.0M | $787.0M | $1.17B | −$3.44B | $1.23B |
| Income taxes | $175.0M | $136.0M | −$201.0M | $106.0M | $285.0M | $169.0M | $748.0M | $315.0M | $275.0M | $197.0M | −$454.0M | $272.0M |
| Net income | $683.0M | $575.0M | $177.0M | $377.0M | $1.79B | $805.0M | −$390.0M | $287.0M | $504.0M | $938.0M | −$2.97B | $929.0M |
| EBITDA | $2.78B | $1.60B | $2.33B | $1.32B | $557.0M | $1.70B | $2.10B | $1.30B | $1.43B | $1.88B | −$2.16B | $1.93B |
| EPS (diluted) | $0.89 | $0.75 | $0.86 | $0.62 | $1.32 | $1.04 | $0.52 | $0.63 | $0.63 | $1.16 | $1.18 | $1.10 |
| Gross margin | 6.3% | 9.7% | 9.3% | 8.8% | 100.0% | 10.0% | 9.9% | 9.3% | 100.0% | 10.5% | −323.1% | 96.0% |
| Operating margin | 6.3% | 4.9% | 2.2% | 3.5% | 12.1% | 5.6% | 3.6% | 4.4% | 6.4% | 6.6% | −13.6% | 7.2% |
| Net margin | 4.1% | 3.7% | 1.2% | 2.4% | 11.3% | 5.4% | −2.7% | 1.9% | 3.1% | 5.8% | −20.4% | 5.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MT's financial statements (latest annual report filed March 6, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MT financial results
In fiscal year 2025 (ended December 31, 2025), ArcelorMittal reported revenue of $61.4 billion, down 1.7% from the year before. It had net income of $3.2 billion (up 135.4%), a net profit margin of 5.1%. Diluted earnings per share came to $3.84. Over five years revenue grew at an average rate of 2.9% a year.
See the MT stock overview for the latest quote and news, or the MT chart for price history and technical indicators.
MT income statement FAQ
What is ArcelorMittal's annual revenue?
ArcelorMittal reported total revenue of $61.4 billion for fiscal year 2025, which ended on December 31, 2025. That was down 1.7% from $62.4 billion the previous year.
Is ArcelorMittal profitable?
Yes. ArcelorMittal reported net income of $3.2 billion in fiscal 2025, a net profit margin of 5.1%; its operating margin was 5.9%.
What is ArcelorMittal's gross margin?
ArcelorMittal's gross margin was 9.6% in fiscal 2025: for every $100 of revenue, ArcelorMittal kept $10 after the direct cost of its products and services.
How fast is ArcelorMittal growing?
Revenue grew 2.9% a year on average over the last five fiscal years, from $53.3 billion to $61.4 billion.
What are ArcelorMittal's earnings per share?
ArcelorMittal earned $3.84 per diluted share in fiscal 2025, compared with $2.94 a year earlier.
When will ArcelorMittal report its next earnings?
ArcelorMittal is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does ArcelorMittal's fiscal year end?
ArcelorMittal's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 6, 2026.