ATI INC vs ArcelorMittal, two Steel stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Here the sector's split is starkest: ATI makes titanium and nickel superalloys for jet engines, priced as an aerospace-growth stock at 65 times earnings and 14.5 times book; ArcelorMittal makes commodity steel, priced as a cyclical at 14.5 times earnings and 0.81 times book, below the value of its plants. ATI earns the far higher return, 22.56% on equity against 5.74%, its specialty niche commanding pricing power steel never has. But ArcelorMittal yields 10.52% in free cash against ATI's 2.02% and sells for a fraction of ATI's asset multiple. The pair is two metals businesses the market treats as opposite species: ATI a growth compounder riding the aerospace build, ArcelorMittal a deep-value cyclical trading on scrap-and-cycle math.
Comparison updated 2026-07-11.
| Metric | ATI | MT |
|---|---|---|
| Price | $197.21 | $59.90 |
| Market cap | $27.3B | $45.7B |
| Sector | Steel | Steel |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | +10.0% |
| P/E | 65.1 | 14.5 |
| P/B | 14.49 | 0.81 |
| P/S | 5.95 | 0.74 |
| EV/EBITDA | 32.5 | 6.1 |
| Revenue growth | +3.0% | -5.1% |
| Gross margin | 22.8% | 7.1% |
| Operating margin | 14.2% | 5.9% |
| Net margin | 9.3% | 5.3% |
| Return on equity | 22.6% | 5.7% |
| Return on assets | 8.1% | 3.3% |
| Return on invested capital | 30.2% | 5.8% |
| FCF yield | 2.0% | 10.5% |
| Debt / equity | 0.02 | 0.00 |
| Current ratio | 2.67 | 1.36 |
| Altman Z (solvency) | 6.44 | 2.23 |
| Piotroski F (quality) | 6 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.