ArcelorMittal reported FY 2025 results with EBITDA $6.54bn and net income $3.15bn. The company signed an amended Mineral Development Agreement with the Government of Liberia extending the concession to 2050, supporting a $1.8 billion expansion that boosts iron ore output to 20 mtpa in 2026. ArcelorMittal announced three new renewable projects in India totaling 1GW capacity, which will double its India renewables to 2GW and raise global capacity to 3.3GW.
Cyborg Score Rationale
ArcelorMittal delivered strong 2025 results with $6.54bn EBITDA and $3.15bn net income, along with healthy cash position and continued capital returns. The company benefits from strategic iron ore expansion in Liberia and renewable energy investments, though facing cyclical steel market pressures.
Top Insights
FY 2025 EBITDA of $6.54bn and net income of $3.15bn with EPS of $4.13
Liberia iron ore concession extended to 2050 with $3.5bn total investment boosting output to 20 mtpa in 2026
Three new renewable energy projects totaling 1GW coming online, bringing global renewable capacity to 3.3GW
Recent analyst upgrades from Citi (EUR 66 PT) and Jefferies (Buy rating, EUR 62 PT) reflecting improved outlook
Named Competitors
Steel Dynamics — Second-largest US steel producer
Cleveland-Cliffs — Integrated steel and iron ore producer
POSCO — South Korean integrated steel company
Gerdau — Brazilian steelmaker with Americas presence
Recent Developments
(February 2026) ArcelorMittal confirmed €1.3 billion investment for 2-million-tonne electric arc furnace in Dunkirk, France
(February 2026) FY 2025 results: EBITDA $6.54bn, net income $3.15bn, proposed $0.60 annual dividend
(December 2025) Three new renewable energy projects in India totaling 1GW capacity announced
(November 2025) Company completed sale of operations in Bosnia and Herzegovina
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