MT vs. STLD: ArcelorMittal vs. Steel Dynamics Stock Comparison

November 11, 2026

How do ArcelorMittal (MT) and Steel Dynamics (STLD) 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

ArcelorMittal (MT) and Steel Dynamics (STLD) are both classified in the Steel sub-industry within the broader Metals & Mining industry, placing them in the closest GICS peer bucket.

Steel Dynamics (STLD) 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 ArcelorMittal (MT) and Steel Dynamics (STLD)
Profile Item	MT	STLD
Name	ArcelorMittal NY Registry Shares	Steel Dynamics, Inc.
Country/Region	Luxembourg	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Metals & Mining
GICS Sub-Industry	Steel	Steel
Market Capitalization	45.85 billion USD	31.70 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	August 7, 1997	November 22, 1996
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

STLD

GSPC

ArcelorMittal (MT) vs. Steel Dynamics (STLD), 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 ArcelorMittal (MT) and Steel Dynamics (STLD). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for ArcelorMittal (MT) and Steel Dynamics (STLD)
Metric	MT	STLD
Total Return (1Y)	65.49%	52.02%
Total Return (3Y, Annualized)	45.03%	29.83%
Total Return (5Y, Annualized)	16.55%	30.20%

Risk Profile

Drawdown History

STLD

GSPC

ArcelorMittal (MT) vs. Steel Dynamics (STLD), 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 ArcelorMittal (MT) and Steel Dynamics (STLD). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for ArcelorMittal (MT) and Steel Dynamics (STLD)
Metric	MT	STLD
Volatility (1Y, Annualized)	44.08%	36.62%
Beta (5Y)	1.49	1.46
Max Drawdown (5Y)	-45.99%	-32.20%
Avg. Volume (3M)	1.35M	1.06M

Risk-Adjusted Performance

Risk-Return Positioning

MT and STLD 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 ArcelorMittal (MT) and Steel Dynamics (STLD)
Metric	MT	STLD
Sharpe Ratio (1Y)	1.39	1.30
Sortino Ratio (1Y)	2.23	1.92

Profitability

ROE (TTM)

Steel Dynamics (STLD) at 20.81% sits in the top ROE quartile, while ArcelorMittal (MT) at 1.83% is closer to the peer norm — stronger capital efficiency for STLD.

MT

Materials industry group

1.83%

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

STLD

Materials industry group

20.81%

Max: 52.88%
STLD: 20.81%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

ArcelorMittal (MT) vs. Steel Dynamics (STLD): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Both ArcelorMittal (MT) at 1.64% and Steel Dynamics (STLD) at 8.82% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

MT

Materials industry group

1.64%

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

STLD

Materials industry group

8.82%

Max: 38.66%
Q3: 15.98%
STLD: 8.82%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

ArcelorMittal (MT) vs. Steel Dynamics (STLD): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both ArcelorMittal (MT) at 6.16% and Steel Dynamics (STLD) at 15.46% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

MT

Materials industry group

6.16%

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

STLD

Materials industry group

15.46%

Max: 66.70%
Q3: 28.92%
STLD: 15.46%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

ArcelorMittal (MT) vs. Steel Dynamics (STLD): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for ArcelorMittal (MT) and Steel Dynamics (STLD)
Metric	MT	STLD
ROE (TTM)	1.83%	20.81%
ROA (TTM)	1.31%	9.45%
Net Margin (TTM)	1.64%	8.82%
Operating Margin (TTM)	6.16%	15.46%
Gross Margin (TTM)	8.16%	15.90%

Growth

Revenue Growth

Steel Dynamics (STLD) at 3.63% is around its peer norm for revenue growth, while ArcelorMittal (MT) at -1.74% drops into the bottom quartile, signaling weaker demand or pricing momentum.

ArcelorMittal (MT) vs. Steel Dynamics (STLD): 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 Steel Dynamics (STLD) at -18.80% is closer to the peer norm — faster per-share earnings growth for MT.

ArcelorMittal (MT) vs. Steel Dynamics (STLD): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for ArcelorMittal (MT) and Steel Dynamics (STLD)
Metric	MT	STLD
Revenue Growth (YoY)	-1.74%	3.63%
Revenue Growth (3Y CAGR)	-8.41%	-6.53%
EPS Growth (YoY)	143.20%	-18.80%
EPS Growth (3Y CAGR)	-26.09%	-27.45%

Financial Strength

Current Ratio (MRQ)

Steel Dynamics (STLD) at 3.15 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.

MT

Materials industry group

1.41

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

STLD

Materials industry group

3.15

Max: 5.96
Q3: 3.30
STLD: 3.15
Median: 2.24
Q1: 1.45
Min: 0.16

ArcelorMittal (MT) vs. Steel Dynamics (STLD): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Both ArcelorMittal (MT) at 0.24 and Steel Dynamics (STLD) at 0.45 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

MT

Materials industry group

0.24

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

STLD

Materials industry group

0.45

Max: 1.98
Q3: 0.89
Median: 0.47
STLD: 0.45
Q1: 0.13
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for ArcelorMittal (MT) and Steel Dynamics (STLD)
Metric	MT	STLD
Current Ratio (MRQ)	1.41	3.15
Debt / Equity (MRQ)	0.24	0.45
Net Debt / EBITDA	2.08	1.09

Dividends

Dividend Yield (TTM)

Both ArcelorMittal (MT) at 0.99% and Steel Dynamics (STLD) at 0.94% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

MT

Materials industry group

0.99%

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

STLD

Materials industry group

0.94%

Max: 4.52%
Q3: 1.85%
STLD: 0.94%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

ArcelorMittal (MT) vs. Steel Dynamics (STLD): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Steel Dynamics (STLD) at 15.44% pays out a band-typical share of earnings, while ArcelorMittal (MT) at 52.92% distributes more than its industry norm — less retained, thinner cover.

MT

Materials industry group

52.92%

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

STLD

Materials industry group

15.44%

Max: 83.62%
Q3: 41.37%
STLD: 15.44%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

ArcelorMittal (MT) vs. Steel Dynamics (STLD): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for ArcelorMittal (MT) and Steel Dynamics (STLD)
Metric	MT	STLD
Dividend Yield (TTM)	0.99%	0.94%
Dividend Payout Ratio (TTM)	52.92%	15.44%

Valuation

P/E Ratio (TTM)

Steel Dynamics (STLD) at 16.46 is near its industry’s usual P/E ratio, while ArcelorMittal (MT) at 44.51 sits in the richer quartile — MT needs stronger growth or earnings quality to justify the premium.

MT

Materials industry group

44.51

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

STLD

Materials industry group

16.46

Max: 59.00
Q3: 32.93
Median: 18.82
STLD: 16.46
Q1: 11.96
Min: 3.93

ArcelorMittal (MT) vs. Steel Dynamics (STLD): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

ArcelorMittal (MT) at 0.72 sits in the cheaper P/S ratio quartile while Steel Dynamics (STLD) at 1.43 prices around its industry’s middle — MT costs less per dollar of sales, though read it alongside growth and margins.

MT

Materials industry group

0.72

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

STLD

Materials industry group

1.43

Max: 9.62
Q3: 4.34
Median: 1.87
STLD: 1.43
Q1: 0.73
Min: 0.00

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

P/B Ratio (MRQ)

On P/B ratio, both ArcelorMittal (MT) at 1.70 and Steel Dynamics (STLD) at 3.23 are valued close to their industries’ norm against book — neither stands out from peers.

MT

Materials industry group

1.70

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

STLD

Materials industry group

3.23

Max: 6.59
Q3: 3.55
STLD: 3.23
Median: 2.08
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for ArcelorMittal (MT) and Steel Dynamics (STLD)
Metric	MT	STLD
P/E Ratio (TTM)	44.51	16.46
P/S Ratio (TTM)	0.72	1.43
P/B Ratio (MRQ)	1.70	3.23
Free Cash Flow Yield (TTM)	-1.75%	1.36%