DOW vs. MT: Dow vs. ArcelorMittal Stock Comparison

November 11, 2026

How do Dow (DOW) and ArcelorMittal (MT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Dow (DOW) and ArcelorMittal (MT) both fall under the Materials industry group, but DOW is classified in Chemicals while MT is classified in Metals & Mining.

Dow (DOW) trades as ordinary local shares, while ArcelorMittal (MT) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Dow (DOW) and ArcelorMittal (MT)
Profile Item	DOW	MT
Name	Dow Inc.	ArcelorMittal NY Registry Shares
Country/Region	United States	Luxembourg
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Metals & Mining
GICS Sub-Industry	Commodity Chemicals	Steel
Market Capitalization	22.73 billion USD	45.85 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 20, 2019	August 7, 1997
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

DOW

GSPC

Dow (DOW) vs. ArcelorMittal (MT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Dow (DOW) and ArcelorMittal (MT). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Dow (DOW) and ArcelorMittal (MT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Dow (DOW) and ArcelorMittal (MT)
Metric	DOW	MT
Total Return (1Y)	46.93%	65.49%
Total Return (3Y, Annualized)	-8.46%	45.03%
Total Return (5Y, Annualized)	-6.94%	16.55%

Risk Profile

Drawdown History

DOW

GSPC

Dow (DOW) vs. ArcelorMittal (MT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Dow (DOW) and ArcelorMittal (MT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

ArcelorMittal (MT) has an aggressive beta of 1.49, indicating higher sensitivity to broad-market moves, while Dow (DOW) is defensive at 0.44 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Dow (DOW) and ArcelorMittal (MT)
Metric	DOW	MT
Volatility (1Y, Annualized)	41.81%	44.08%
Beta (5Y)	0.44	1.49
Max Drawdown (5Y)	-64.37%	-45.99%
Avg. Volume (3M)	8.52M	1.35M

Risk-Adjusted Performance

Risk-Return Positioning

DOW and MT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Dow (DOW) and ArcelorMittal (MT)
Metric	DOW	MT
Sharpe Ratio (1Y)	1.02	1.39
Sortino Ratio (1Y)	1.62	2.23

Profitability

ROE (TTM)

Dow (DOW) reports a negative ROE of -3.24%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile ArcelorMittal (MT) reports 1.83%, ranking against industry peers normally.

DOW

Materials industry group

-3.24%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
DOW: -3.24%
Q1: -3.41%
Min: -32.81%

MT

Materials industry group

1.83%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
MT: 1.83%
Q1: -3.41%
Min: -32.81%

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Dow (DOW) reports a negative net margin of -2.11%, usually indicating a net loss over the period. Meanwhile ArcelorMittal (MT) reports 1.64%, ranking against industry peers normally.

DOW

Materials industry group

-2.11%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
DOW: -2.11%
Min: -20.40%

MT

Materials industry group

1.64%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
MT: 1.64%
Q1: 0.00%
Min: -20.40%

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Dow (DOW) at 6.78% and ArcelorMittal (MT) at 6.16% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

DOW

Materials industry group

6.78%

Max: 66.70%
Q3: 28.92%
Median: 12.56%
DOW: 6.78%
Q1: 3.28%
Min: -14.07%

MT

Materials industry group

6.16%

Max: 66.70%
Q3: 28.92%
Median: 12.56%
MT: 6.16%
Q1: 3.28%
Min: -14.07%

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Dow (DOW) and ArcelorMittal (MT)
Metric	DOW	MT
ROE (TTM)	-3.24%	1.83%
ROA (TTM)	1.87%	1.31%
Net Margin (TTM)	-2.11%	1.64%
Operating Margin (TTM)	6.78%	6.16%
Gross Margin (TTM)	11.01%	8.16%

Growth

Revenue Growth

Both Dow (DOW) at -6.97% and ArcelorMittal (MT) at -1.74% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their Revenue Growth across different time periods.

EPS Growth

ArcelorMittal (MT) at 143.20% sits in the top EPS growth quartile, while Dow (DOW) at -335.67% falls below its industry range — a large difference in per-share earnings trajectories.

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Dow (DOW) and ArcelorMittal (MT)
Metric	DOW	MT
Revenue Growth (YoY)	-6.97%	-1.74%
Revenue Growth (3Y CAGR)	-11.11%	-8.41%
EPS Growth (YoY)	-335.67%	143.20%
EPS Growth (3Y CAGR)	--	-26.09%

Financial Strength

Current Ratio (MRQ)

Dow (DOW) at 1.76 keeps current ratio within its industry’s typical mid-range, while ArcelorMittal (MT) at 1.41 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for MT.

DOW

Materials industry group

1.76

Max: 5.96
Q3: 3.30
Median: 2.24
DOW: 1.76
Q1: 1.45
Min: 0.16

MT

Materials industry group

1.41

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
MT: 1.41
Min: 0.16

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

ArcelorMittal (MT) at 0.24 carries an industry-typical debt-to-equity mix, while Dow (DOW) at 1.08 uses more debt funding than most peers.

DOW

Materials industry group

1.08

Max: 1.98
DOW: 1.08
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

MT

Materials industry group

0.24

Max: 1.98
Q3: 0.89
Median: 0.47
MT: 0.24
Q1: 0.13
Min: 0.00

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Dow (DOW) and ArcelorMittal (MT)
Metric	DOW	MT
Current Ratio (MRQ)	1.76	1.41
Debt / Equity (MRQ)	1.08	0.24
Net Debt / EBITDA	3.21	2.08

Dividends

Dividend Yield (TTM)

Dow (DOW) at 4.38% delivers top-quartile income for its industry, while ArcelorMittal (MT) at 0.99% pays a more typical yield — both are credible income propositions, DOW the richer one.

DOW

Materials industry group

4.38%

Max: 4.52%
DOW: 4.38%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

MT

Materials industry group

0.99%

Max: 4.52%
Q3: 1.85%
MT: 0.99%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Dow (DOW) reports payout ratio above 100% at 700.00%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile ArcelorMittal (MT) reports 52.92%, ranking against industry peers normally.

DOW

Materials industry group

700.00%

DOW: 700.00%
Max: 83.62%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

MT

Materials industry group

52.92%

Max: 83.62%
MT: 52.92%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Dow (DOW) and ArcelorMittal (MT)
Metric	DOW	MT
Dividend Yield (TTM)	4.38%	0.99%
Dividend Payout Ratio (TTM)	700.00%	52.92%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: ArcelorMittal (MT) trades at 44.51 times trailing earnings, ranked against its peers, while Dow (DOW) has no P/E ratio this period.

DOW

Materials industry group

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93
DOW: --

MT

Materials industry group

44.51

Max: 59.00
MT: 44.51
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

Dow (DOW) vs. ArcelorMittal (MT): DOW does not report P/E ratio, so it has no value marker; MT is benchmarked against the Materials industry group.

P/S Ratio (TTM)

Both Dow (DOW) at 0.53 and ArcelorMittal (MT) at 0.72 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

DOW

Materials industry group

0.53

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
DOW: 0.53
Min: 0.00

MT

Materials industry group

0.72

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
MT: 0.72
Min: 0.00

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Dow (DOW) at 1.41 and ArcelorMittal (MT) at 1.70 are valued close to their industries’ norm against book — neither stands out from peers.

DOW

Materials industry group

1.41

Max: 6.59
Q3: 3.55
Median: 2.08
DOW: 1.41
Q1: 1.26
Min: -0.17

MT

Materials industry group

1.70

Max: 6.59
Q3: 3.55
Median: 2.08
MT: 1.70
Q1: 1.26
Min: -0.17

Dow (DOW) vs. ArcelorMittal (MT): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Dow (DOW) and ArcelorMittal (MT)
Metric	DOW	MT
P/E Ratio (TTM)	--	44.51
P/S Ratio (TTM)	0.53	0.72
P/B Ratio (MRQ)	1.41	1.70
Free Cash Flow Yield (TTM)	3.95%	-1.75%