Discounted Cash Flow

Arcelormittal ADR

MT · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $56.8b $1.8b $264.0m 3.1% $1.87
2017 $68.7b (20.9%) $4.6b (156.8%) $1.7b (560.6%) 6.7% (112.3%) $4.48 (139.6%)
2018 $76.0b (10.7%) $5.1b (12.7%) $891.0m (-48.9%) 6.8% (1.8%) $1015.58 (22569.2%)
2019 $70.6b (-7.1%) $-2.5b (-147.7%) $2.4b (174.4%) -3.5% (-151.3%) $-2.42 (-100.2%)
2020 $53.3b (-24.6%) $-733.0m (70.1%) $1.6b (-32.8%) -1.4% (60.4%) $-0.64 (73.6%)
2021 $76.6b (43.7%) $15.0b (2140.4%) $9.8b (496.5%) 19.5% (1519.5%) $13.53 (2214.1%)
2022 $79.8b (4.3%) $9.3b (-37.8%) $6.7b (-31.3%) 11.7% (-40.4%) $10.21 (-24.5%)
2023 $68.3b (-14.5%) $919.0m (-90.1%) $3.0b (-55.0%) 1.3% (-88.4%) $1.09 (-89.3%)
2024 $62.4b (-8.5%) $1.3b (45.7%) $447.0m (-85.3%) 2.1% (59.3%) $1.70 (56.0%)
2025 $61.4b (-1.7%) $3.2b (135.4%) $471.0m (5.4%) 5.1% (139.6%) $4.13 (142.9%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model