Arcelormittal vs Steel Dynamics
Arcelormittal is the larger business, with $61.35bn of revenue in fiscal 2025 against $18.18bn for Steel Dynamics (3.4 times as much). Steel Dynamics grew faster (3.6% against -1.7%). Steel Dynamics kept more of each dollar of sales as profit: a net margin of 6.5% against 5.1%. Arcelormittal carries less debt relative to equity (24.6% against 47.9%).
| Latest fiscal year | ArcelormittalMT, 2025 | Steel DynamicsSTLD, 2025 |
|---|---|---|
| Revenue | $61.35bn | $18.18bn |
| Revenue growth | -1.7% | 3.6% |
| Net income | $3.15bn | $1.19bn |
| Operating margin | 5.9% | 8.1% |
| Net margin | 5.1% | 6.5% |
| Return on equity | 6.1% | 13.3% |
| Free cash flow | — | $502m |
| Cash | $5.39bn | $770m |
| Total debt | $13.41bn | $4.29bn |
| Debt to equity | 24.6% | 47.9% |
| Dividend per share | — | $2.00 |
| Dividend yield | 1.2% | 0.8% |
| Share buybacks | — | $901m |
| Employees | — | 14,400 |
| Market value | $46.06bn | $35.40bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | — | 66 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 13 sales |