MT vs TS
ArcelorMittal and Tenaris SA, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MT | TS |
|---|---|---|
| Revenue | $61.4B | $12.0B |
| Net income | $3.2B | $1.9B |
| Gross margin | 7.1% | 34.4% |
| Net margin | 5.3% | 16.5% |
| Return on equity | 6.1% | 11.6% |
| Diluted EPS | $4.11 | $1.83 |
| Dividend / share | · | · |
| Payout ratio | 17.2% | 46.6% |
| Free cash flow | · | · |
| Equity | $54.5B | $16.6B |
| Net debt / equity | 0.15× | −0.02× |
| Current ratio | 1.36× | 3.87× |
| Revenue CAGR 5y | 2.9% | 18.4% |
| Profit CAGR 5y | · | · |
MT bills 5.1× the revenue of TS, and TS keeps more of each dollar of revenue as profit (16.5% against 5.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | MT | TS |
|---|---|---|
| FY2025 | $61.4B | $12.0B |
| FY2024 | $62.4B | $12.5B |
| FY2023 | $68.3B | $14.9B |
| FY2022 | $79.8B | $11.8B |
| FY2021 | $76.6B | $6.5B |
| FY2020 | $53.3B | $5.1B |
| FY2019 | $70.6B | $7.3B |
| FY2018 | $76.0B | $7.7B |
| FY2017 | $68.7B | $5.3B |
| FY2016 | $56.8B | $4.3B |
Bottom line
| Fiscal year | MT | TS |
|---|---|---|
| FY2025 | $3.2B | $1.9B |
| FY2024 | $1.3B | $2.0B |
| FY2023 | $919.0M | $3.9B |
| FY2022 | $9.3B | $2.6B |
| FY2021 | $15.0B | $1.1B |
| FY2020 | $-733.0M | $-634.4M |
| FY2019 | $-2.5B | $742.7M |
| FY2018 | $5.1B | $876.1M |
| FY2017 | $4.6B | $544.7M |
| FY2016 | $1.8B | $55.3M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$49,370,843,000 | MT |
| FY2024 | +$49,917,066,000 | MT |
| FY2023 | +$53,406,140,000 | MT |
| FY2022 | +$68,081,474,000 | MT |
| FY2021 | +$70,049,793,000 | MT |
| FY2020 | +$48,123,266,000 | MT |
| FY2019 | +$63,320,945,000 | MT |
| FY2018 | +$68,374,412,000 | MT |
| FY2017 | +$63,390,496,000 | MT |
| FY2016 | +$52,497,408,000 | MT |
| FY2015 | +$56,674,877,000 | MT |
MT has reported the higher revenue in every one of these 11 fiscal years. The gap has narrowed since the earliest year compared.
11 of 11 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −11.2 pp | TS |
| FY2024 | −14.4 pp | TS |
| FY2023 | −25.1 pp | TS |
| FY2022 | −9.7 pp | TS |
| FY2021 | +4.2 pp | MT |
| FY2020 | +11.4 pp | MT |
| FY2019 | −13.4 pp | TS |
| FY2018 | −4.4 pp | TS |
| FY2017 | −3.5 pp | TS |
| FY2016 | +1.7 pp | MT |
| FY2015 | −12.2 pp | TS |
The higher net margin has changed hands between MT and TS over this period.
11 of 11 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TS's net margin has been more volatile than MT's over the 11 comparable fiscal years — 10.6 percentage points of standard deviation against 8.2.
11 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MT and TS over these 11 fiscal years — MT led in 3 and TS in 8.
11 of 11 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MT's return on equity has been more volatile than TS's over the 11 comparable fiscal years — 13.7 percentage points of standard deviation against 8.5.
11 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between MT and TS over these 11 fiscal years — MT led in 5 and TS in 6.
11 of 11 comparable fiscal years — a year missing data on either side is not counted.