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ArcelorMittal vs Steel Dynamics: Which Stock Looks Stronger in 2026?

The structural profiles are close, with Steel Dynamics carrying a narrow edge on stability. ArcelorMittal still has the edge on valuation, which keeps the comparison from looking entirely one-sided. The market setup is broadly comparable for both — no clear directional signal from price behavior. The market is not adding a decisive signal either way — the structural read carries the weight.

The comparison is based on similar long-term financial trajectories, not sector labels.

Updated 2026-04-05

The clearest separation starts in stability, but profitability adds another real layer to the result.

INDUSTRY COMPARISON

Both operate in: Steel

This comparison is based on industry proximity, not on functional trajectory similarity. MT.AS and STLD share the same industry classification.

For a similarity-based comparison, see how ArcelorMittal and Steel Dynamics each position within their functional peer groups in AssetNext.

Peer-Relative Score
MT.AS
ArcelorMittal S.A.
59
Peer-Score
Signal qualityMedium
vs
STLD
Steel Dynamics, Inc.
64
Peer-Score
Signal qualityMedium

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

The largest gaps do not all point in the same direction.

Dimension spread: MT.AS vs STLD Profitability 39 52 Stability 34 52 Valuation 86 75 Growth 75 78 MT.AS STLD
Gap Ranking
#1 Stability +18
#2 Profitability +13
#3 Valuation +11
#4 Growth +3
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for MT.AS and STLD Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer MT.ASSTLD Relative valuation Structural strength

Steel Dynamics, Inc. occupies the cheaper side of the setup map, although ArcelorMittal S.A. still holds the stronger structural profile.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Relative Position vs Comparable Companies
Stability
Steel Dynamics, Inc. sits in the stronger part of the group on stability, while ArcelorMittal S.A. is closer to mid-pack.
Profitability
Steel Dynamics, Inc. sits in the stronger part of the group on profitability, while ArcelorMittal S.A. is closer to mid-pack.
Stability — Dominant Gap
MT.AS
34
STLD
52
Gap+18in favour of STLD

The clearest distance comes from a steadier profile over time.

What keeps the gap from being one-sided

Absolute pricing still looks more supportive for ArcelorMittal, with a forward P/E that is 3.1 turns lower there.

What this means for the comparison

The lead is built on both stability and profitability — though valuation still provides a counterweight.

Explore full peer positioning in AssetNext

Break down the MT.AS vs STLD comparison across all dimensions with the full interactive tool.

Explore full breakdown →
Similar stability-and-profitability comparisons

Explore how MT.AS and STLD each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.