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ArcelorMittalXMAD:MTS +1.10%68 Capex-to-Operating-Cash-Flow is 1.15 as of Jun. 2026, which is 89% above its 10-year median of 0.61. GuruFocus rates XMAD:MTS with a GF Score™ of 68/100 and a GF Value™ of €25.13 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 303 Steel companies, ArcelorMittal ranks worse than 72.28% on this metric.
Capex-to-Operating-Cash-Flow assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. It’s also useful to distinguish whether the company is capital intensive or not.
Capex-to-Operating-Cash-Flow ratio assesses how much of a company’s Cash Flow from Operations is being devoted to Capital Expenditure. It is a good indicator in terms of how much the company is focused on growth. In general, a high Capex-to-Operating-Cash-Flow ratio indicates that the company is investing more in physical assets and is focused on growth and expansion. Conversely, lower ratio could indicate that a company has reached maturity and is no longer pursuing aggressive growth.
Moreover, the ratio is also useful to distinguish whether the company is capital intensive or not. If the ratio is large, then the company tends to be capital intensive. Lower ratio suggests that it’s a capital-light business. The ratio can be combined with ROIC % to identify whether the company is an asset-light business that has a high return on invested capital. This is one question investors commonly ask to see if a company qualifies as a good company.
ArcelorMittal Capex-to-Operating-Cash-Flow Related Terms
ArcelorMittal Capex-to-Operating-Cash-Flow Historical Data
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The historical data trend for ArcelorMittal's Capex-to-Operating-Cash-Flow can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XMAD:MTS vs NUE, STLD, RS: Capex-to-Operating-Cash-Flow Comparison
For the Steel subindustry, ArcelorMittal's Capex-to-Operating-Cash-Flow, along with its competitors' market caps and Capex-to-Operating-Cash-Flow data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ArcelorMittal Capex-to-Operating-Cash-Flow vs Steel Industry
For the Steel industry and Basic Materials sector, ArcelorMittal's Capex-to-Operating-Cash-Flow distribution charts can be found below:
* The bar in red indicates where ArcelorMittal's Capex-to-Operating-Cash-Flow falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Capex-to-Operating-Cash-Flow of 1.15 mean?
ArcelorMittal (XMAD:MTS) has a Capex-to-Operating-Cash-Flow of 1.15 as of Jun. 2026. Capex to Operating Cash Flow ratio assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. View historical data on ArcelorMittal and its competitors. This is 89% above median its historical median of 0.61. Over the past decade, ArcelorMittal's Capex-to-Operating-Cash-Flow has ranged from 0.30 to 1.04. According to the industry distribution chart, ArcelorMittal ranks #219 out of 303 companies in the Steel industry, placing it in the top 72.3%.
Is ArcelorMittal's Capex-to-Operating-Cash-Flow too high?
ArcelorMittal's current Capex-to-Operating-Cash-Flow of 1.15 is 89% above median its 10-year median of 0.61. Over the past 10 years, this metric has ranged from a low of 0.30 to a high of 1.04. The Steel industry median Capex-to-Operating-Cash-Flow is 0.46. ArcelorMittal's value of 1.15 is 150% above this industry median. Based on the distribution chart, ArcelorMittal ranks #219 out of 303 companies in the Steel industry, which is below the industry midpoint. Overall, ArcelorMittal has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ArcelorMittal's Capex-to-Operating-Cash-Flow compare to NUE and STLD?
According to the Steel industry distribution chart, ArcelorMittal ranks #219 out of 303 companies for Capex-to-Operating-Cash-Flow. This places ArcelorMittal in the lower half of its industry. The industry median Capex-to-Operating-Cash-Flow is 0.46. ArcelorMittal's value of 1.15 is 150% above this benchmark. Historically, ArcelorMittal's own Capex-to-Operating-Cash-Flow has ranged from 0.30 to 1.04 over the past decade. While the company's 10-year median is 0.61 vs. the industry median of 0.46, ArcelorMittal has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Capex-to-Operating-Cash-Flow for a Steel company?
The median Capex-to-Operating-Cash-Flow among Steel companies is 0.46, based on 303 companies in the industry. Companies in the top quartile (top 25%) have a Capex-to-Operating-Cash-Flow significantly above this median, while those in the bottom quartile fall well below. However, Capex-to-Operating-Cash-Flow should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ArcelorMittal's current Capex-to-Operating-Cash-Flow of 1.15 is 150% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Capex-to-Operating-Cash-Flow mean?
A high Capex-to-Operating-Cash-Flow can signal that a stock is expensive relative to its fundamentals. Capex to Operating Cash Flow ratio assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. View historical data on ArcelorMittal and its competitors. For the Steel industry, the median Capex-to-Operating-Cash-Flow is 0.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ArcelorMittal's current Capex-to-Operating-Cash-Flow is 1.15, which is 89% above median its own 10-year median of 0.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ArcelorMittal stock overvalued right now?
Based on GuruFocus' analysis, ArcelorMittal (XMAD:MTS) is currently considered Significantly Overvalued. The stock's GF Value™ is €25.13, compared to a current price of €64.60 — trading 157.1% above its estimated fair value. The current Capex-to-Operating-Cash-Flow is 1.15, which is 89% above median its 10-year median of 0.61 and 150% above the Steel industry median of 0.46. ArcelorMittal's overall GF Score™ is 68/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Capex-to-Operating-Cash-Flow calculated?
Capex-to-Operating-Cash-Flow is calculated from a company's financial statements. For ArcelorMittal (XMAD:MTS), the current Capex-to-Operating-Cash-Flow is 1.15 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ArcelorMittal (XMAD:MTS) Overvalued in 2026?
Based on GuruFocus' analysis, ArcelorMittal stock appears to be overvalued.
The current stock price of €64.60 is trading 157.1% above its estimated GF Value™ of €25.13.
GuruFocus considers ArcelorMittal to be Significantly Overvalued.
Key valuation signals for XMAD:MTS:
Capex-to-Operating-Cash-Flow: 1.15 (89% above median its 10-year median of 0.61)
GF Value™: €25.13 vs. price of €64.60 (157.1% above fair value)
Industry Position: 150% above the Steel median (#219 of 303)
No single metric tells the full story. See the XMAD:MTS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ArcelorMittal SA is an integrated steel and mining company. The company's reportable operating segments include North America, Brazil, Europe, India and JVs, Sustainable Solutions, and Mining. It generates maximum revenue from the Europe segment. The Europe segment produces hot-rolled coil, cold-rolled coil, coated products, tinplate, plate, and slab. These products are sold to customers in the automotive, general, and packaging sectors, as well as producing long products consisting of sections, wire rods, rebar, billets, blooms and wire drawing, and tubular products. Geographically, it derives a majority of its revenue from the United States, followed by Brazil, Canada, Mexico, Argentina, and other markets.
68GF Score
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Capex-to-Operating-Cash-Flow is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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