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Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
ArcelorMittal Price-to-Tangible-Book Related Terms
ArcelorMittal Price-to-Tangible-Book Historical Data
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The historical data trend for ArcelorMittal's Price-to-Tangible-Book 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: Price-to-Tangible-Book Comparison
For the Steel subindustry, ArcelorMittal's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book 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 Price-to-Tangible-Book vs Steel Industry
For the Steel industry and Basic Materials sector, ArcelorMittal's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where ArcelorMittal's Price-to-Tangible-Book 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
ArcelorMittal (XMAD:MTS) has a Price-to-Tangible-Book of 1.14 as of Aug. 31, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on ArcelorMittal and its competitors. According to the industry distribution chart, ArcelorMittal ranks #332 out of 601 companies in the Steel industry, placing it in the top 55.2%.
Is ArcelorMittal's Price-to-Tangible-Book too high?
ArcelorMittal's current Price-to-Tangible-Book is 1.14. The Steel industry median Price-to-Tangible-Book is 1.04. ArcelorMittal's value of 1.14 is 9.6% above this industry median. Based on the distribution chart, ArcelorMittal ranks #332 out of 601 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 Price-to-Tangible-Book compare to NUE and STLD?
According to the Steel industry distribution chart, ArcelorMittal ranks #332 out of 601 companies for Price-to-Tangible-Book. This places ArcelorMittal in the lower half of its industry. The industry median Price-to-Tangible-Book is 1.04. ArcelorMittal's value of 1.14 is 9.6% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Price-to-Tangible-Book for a Steel company?
The median Price-to-Tangible-Book among Steel companies is 1.04, based on 601 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ArcelorMittal's current Price-to-Tangible-Book of 1.14 is 9.6% 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 Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on ArcelorMittal and its competitors. For the Steel industry, the median Price-to-Tangible-Book is 1.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ArcelorMittal's current Price-to-Tangible-Book is 1.14. 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 €25.14, compared to a current price of €64.60 — trading 157% above its estimated fair value. The current Price-to-Tangible-Book is 1.14 and 9.6% above the Steel industry median of 1.04. 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 Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For ArcelorMittal (XMAD:MTS), the current Price-to-Tangible-Book is 1.14 as of Aug. 31, 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% above its estimated GF Value™ of €25.14.
GuruFocus considers ArcelorMittal to be Significantly Overvalued.
Key valuation signals for XMAD:MTS:
Price-to-Tangible-Book: 1.14
GF Value™: €25.14 vs. price of €64.60 (157% above fair value)
Industry Position: 9.6% above the Steel median (#332 of 601)
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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Price-to-Tangible-Book is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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