ArcelorMittal vs Steel Dynamics, Inc., two Steel stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
ArcelorMittal is the global steel giant trading below the value of its plants at 0.81 times book; Steel Dynamics is the nimble US mini-mill operator at 3.89 times book, and the two frame the range of how the market prices steel. Steel Dynamics earns far more, 14.97% on equity against 5.74%, its focused electric-arc model beating ArcelorMittal's sprawling integrated one; it also carries more debt, 0.46 turns against near-zero. ArcelorMittal's draw is a 10.52% free-cash yield against Steel Dynamics's 1.86% and a rock-bottom asset multiple. The pair prices global scale at a discount against domestic efficiency at a premium: ArcelorMittal for the value hunter willing to ride the cycle, Steel Dynamics for the investor paying up for the better-run business.
Comparison updated 2026-07-11.
| Metric | MT | STLD |
|---|---|---|
| Price | $59.90 | $245.54 |
| Market cap | $45.7B | $35.7B |
| Sector | Steel | Steel |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +10.0% | — |
| P/E | 14.5 | 26.3 |
| P/B | 0.81 | 3.89 |
| P/S | 0.74 | 1.88 |
| EV/EBITDA | 6.1 | 17.0 |
| Revenue growth | -5.1% | +10.7% |
| Gross margin | 7.1% | 14.7% |
| Operating margin | 5.9% | 10.3% |
| Net margin | 5.3% | 7.2% |
| Return on equity | 5.7% | 15.0% |
| Return on assets | 3.3% | 8.2% |
| Return on invested capital | 5.8% | 10.1% |
| FCF yield | 10.5% | 1.9% |
| Dividend yield | — | 0.8% |
| Debt / equity | 0.00 | 0.46 |
| Current ratio | 1.36 | 3.13 |
| Altman Z (solvency) | 2.23 | 5.74 |
| Piotroski F (quality) | 6 / 9 | 7 / 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.