# ArcelorMittal S.A. share price today (ArcelorMittal S.A., MT)

> ArcelorMittal S.A.'s earnings have grown faster than its share price. Earnings per share grew +143.2% in a year while the price moved +58.6%. MT · Materials · Steel · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/mt

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: $60.42 (+58.6% in a year)
- P/E: 26.0× (higher than 76% of the last 4.3 years)
- Revenue (Jun 2026): $16.8 B (+5.2% on a year ago)
- Profit (Jun 2026): $683 M (−61.9% on a year ago)
- Operating margin: 6.3% (+5.8 points on a year ago)
- ROE: 6%, FY25
- ROIC: 3.5%, against a 11.6% cost of capital: −8.1 points

The main question: yearly earnings per share moved +143.2% while the share price moved +58.6%. ## What is the ArcelorMittal S.A. share price today? ArcelorMittal S.A.'s share price was $60.42 at the close on 3 November 2026. It has been moving sideways for 3 weeks. That is 5.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between $39 and $79, and at that close it sat 54% of the way up from that low. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 6 weeks running. Over the last 10 years the share price moved +304% while the S&P 500 moved +255%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 25 September 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does ArcelorMittal S.A. pay? ArcelorMittal S.A. has 3 quarters of declared dividends on file, too few for a 12-month total. The most recent declaration was $0.60 for Dec 2025. ArcelorMittal S.A. declared a dividend in 3 of the last 12 reported quarters, most recently $0.60 for Dec 2025. That is fewer than four quarters, so no 12-month total is shown. ## Which stock lists is ArcelorMittal S.A. on? ArcelorMittal S.A. is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is ArcelorMittal S.A. profitable? ArcelorMittal S.A. earned $683 M of net profit in the Jun 2026 quarter, −61.9% on the same quarter a year earlier. Full-year FY25 profit was $3.2 B. Over 4 years profit has grown −32.2% a year on average. That is 4.1% of the quarter's revenue. The same quarter a year earlier earned $1.8 B. 2 of the last 12 reported quarters were loss-making. For the full year, FY25 profit was $3.2 B (+135.4% on the year before). Why profit moved: revenue changed +5.2% on a year earlier and the margin moved +5.8 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed −19.7% and revenue +3.6%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does ArcelorMittal S.A. make, and is it growing? ArcelorMittal S.A. reported $16.8 B of revenue in the Jun 2026 quarter, +5.2% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 4 years it has grown −5.4% a year on average. The last full year, FY25, came in at $61.4 B. The last four reported quarters add to $62.8 B. FY25 revenue was $61.4 B, −1.7% on the year before. Recent pace: the last four quarters grew +3.6% on average, against −5.4% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +3.6%, against −0.7% a year over the last 8 quarters (accelerating). ## How much of every $100 of sales does ArcelorMittal S.A. keep? ArcelorMittal S.A.'s operating margin was 6.3% in the Jun 2026 quarter, 5.8 percentage points higher than the same quarter a year ago. Across 5 years it has been between 2.7% and 21.7%. The latest quarter is within that range. Why the margin moved: operating margin changed +5.8 percentage points on the year while gross margin changed +6.1 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is ArcelorMittal S.A.'s profit turning into cash? Over the last 3 years, 320% of ArcelorMittal S.A.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $4.8 B of operating cash against $3.2 B of profit. After $4.3 B of spending on assets, $471 M was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does ArcelorMittal S.A.'s cash go? ArcelorMittal S.A. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $13.4 B on assets over the last 3 years. Averaged over those years that is 7.3% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $13.4 B over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is ArcelorMittal S.A.'s P/E ratio, and how does it compare with its own history? ArcelorMittal S.A.'s P/E is 26.0×, near the high end of its own history: higher than 76% of past readings. Its usual P/E (the middle reading) is 13.3×, over 4.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +143.2% while the price moved +58.6%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +37.5% a year; about −21.4% a year came from earnings growth and about +58.9 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the ArcelorMittal S.A. business getting better or worse? ArcelorMittal S.A.'s business is giving mixed signals. There is no clear direction across the growth lines, with ROCE steady at 2.2%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## How much does ArcelorMittal S.A. earn on its capital? ArcelorMittal S.A. earned a ROE of 6% in FY25. That is up from a low of 2% in FY23. Its return on capital used (ROIC) is 8.1 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 5.1% net margin and 0.63× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 5.1% net margin × 0.63× asset turnover × 1.73× leverage (assets divided by equity) ≈ 5.6% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 3.5% − 11.6% = −8.1 percentage points. The 11.6% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 3.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 2.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does ArcelorMittal S.A. have too much debt? ArcelorMittal S.A. has total debt of $14.4 B against shareholder equity of $56.8 B as of Jun 2026, so its debt is 0.25× its equity, which is very little. Year by year, that ratio went from 0.16 in FY21 to 0.24 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the ArcelorMittal S.A. shareholding pattern? 0.3% of ArcelorMittal S.A.'s tradable shares are in short positions, which are bets that the price will fall, so very few traders are betting against this stock. At normal trading volumes, closing those positions would take about 1.0 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is ArcelorMittal S.A. from balance-sheet trouble? For ArcelorMittal S.A., the Z-score is 2.07. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the grey area between the two. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 2.07 is in the grey area, neither clearly safe nor clearly in trouble. ## How does ArcelorMittal S.A. rank in its industry? 35.4 out of 100, rank 11 of 13 in Steel, with 71% of the evidence available. ArcelorMittal S.A. scores 35.4 out of 100 against the 13 companies it is compared with in Steel, ranking 11. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 15.2 + 9.2 + 9.5 + 1.5 = 35.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is ArcelorMittal S.A. compared with? ArcelorMittal S.A. ranks 11 of 13 Steel companies on the 4-Factor Sector Score, with 35.4 out of 100. 1. [Reliance, Inc.](https://www.sectoralpha.in/us/stocks/rs) RS · turning · Most evidence points up · 85% evidence 75.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.0/35 · Revenue 24.7% · Profit 52% · Operating margin change 3.5 points · 95% evidence Capital efficiency 16.8/25 · ROCE 15.1% · Operating margin 10.6% · 76% evidence Valuation 14.7/20 · P/E 17.7× · PEG 0.31 · 65% evidence Relative strength 17.3/20 · Lead over its industry 16.1% · Lead over S&P 500 19.5% · 1 year 61.3% · 100% evidence · 2 of 12 weeks ahead Exact sum: 27 + 16.8 + 14.7 + 17.3 = 75.8 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Friedman Industries, Incorporated](https://www.sectoralpha.in/us/stocks/frd) FRD · losing its lead · Most evidence points up · 81% evidence 72.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.8/35 · Revenue 61.7% · Profit 100% · Operating margin change 3.6 points · 83% evidence Capital efficiency 13.9/25 · ROCE 14.3% · Operating margin 8.8% · 76% evidence Valuation 15.2/20 · P/E 8.5× · PEG 0.32 · 65% evidence Relative strength 14.7/20 · Lead over its industry 37.6% · Lead over S&P 500 40.9% · 1 year 95.2% · 100% evidence · 11 of 12 weeks ahead Exact sum: 28.8 + 13.9 + 15.2 + 14.7 = 72.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Steel Dynamics, Inc.](https://www.sectoralpha.in/us/stocks/stld) STLD · quiet · Most evidence points up · 85% evidence 71.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.2/35 · Revenue 26% · Profit 73.8% · Operating margin change 5 points · 95% evidence Capital efficiency 18.9/25 · ROCE 16.7% · Operating margin 15.5% · 76% evidence Valuation 11.3/20 · P/E 16.2× · PEG 0.8 · 65% evidence Relative strength 10.9/20 · Lead over its industry 8.1% · Lead over S&P 500 11.1% · 1 year 63% · 100% evidence · 0 of 12 weeks ahead Exact sum: 30.2 + 18.9 + 11.3 + 10.9 = 71.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Nucor Corporation](https://www.sectoralpha.in/us/stocks/nue) NUE · losing its lead · Too little evidence to rank firmly · 56% evidence 64.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.0/35 · Revenue n/a · Profit n/a · Operating margin change 4.8 points · 39% evidence Capital efficiency 16.3/25 · ROCE 13.1% · Operating margin 15.7% · 76% evidence Valuation 10.0/20 · P/E 17.5× · PEG n/a · 15% evidence Relative strength 16.0/20 · Lead over its industry 20% · Lead over S&P 500 23.3% · 1 year 89.5% · 100% evidence · 4 of 12 weeks ahead Exact sum: 22 + 16.3 + 10 + 16 = 64.3 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [Cleveland-Cliffs Inc.](https://www.sectoralpha.in/us/stocks/clf) CLF · breaking out · Evidence leans up · 67% evidence 55.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.5/35 · Revenue 7.8% · Profit n/a · Operating margin change 9.7 points · 71% evidence Capital efficiency 5.6/25 · ROCE -0.2% · Operating margin 6.7% · 76% evidence Valuation 11.3/20 · P/E -13.3× · PEG n/a · 15% evidence Relative strength 16.3/20 · Lead over its industry 12.1% · Lead over S&P 500 15.5% · 1 year 35.6% · 100% evidence · 7 of 12 weeks ahead Exact sum: 22.5 + 5.6 + 11.3 + 16.3 = 55.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Ternium S.A.](https://www.sectoralpha.in/us/stocks/tx) TX · losing its lead · Evidence leans up · 81% evidence 54.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.4/35 · Revenue -1.4% · Profit 17.6% · Operating margin change 7.2 points · 83% evidence Capital efficiency 11.8/25 · ROCE 5.8% · Operating margin 12.2% · 76% evidence Valuation 12.5/20 · P/E 12× · PEG 0.69 · 65% evidence Relative strength 11.1/20 · Lead over its industry 4.9% · Lead over S&P 500 8% · 1 year 42.3% · 100% evidence · 11 of 12 weeks ahead Exact sum: 19.4 + 11.8 + 12.5 + 11.1 = 54.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [NWPX Infrastructure, Inc.](https://www.sectoralpha.in/us/stocks/nwpx) NWPX · quiet · Evidence leans up · 81% evidence 52.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.0/35 · Revenue 15% · Profit 51.5% · Operating margin change 3.4 points · 83% evidence Capital efficiency 14.8/25 · ROCE 12.1% · Operating margin 13.3% · 76% evidence Valuation 11.8/20 · P/E 29.6× · PEG 0.59 · 65% evidence Relative strength 2.4/20 · Lead over its industry -4.4% · Lead over S&P 500 -1.9% · 1 year 63.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 23 + 14.8 + 11.8 + 2.4 = 52 · What this means: Earnings are strong; relative strength in its sector is -4.4% and the one-year return is 63.2%. 8. [Metallus Inc.](https://www.sectoralpha.in/us/stocks/mtus) MTUS · quiet · Evidence leans down · 74% evidence 43.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.3/35 · Revenue 15.9% · Profit n/a · Operating margin change 0 points · 62% evidence Capital efficiency 6.7/25 · ROCE 1.2% · Operating margin 3.5% · 76% evidence Valuation 12.1/20 · P/E 96.1× · PEG 0.42 · 65% evidence Relative strength 7.3/20 · Lead over its industry -3.1% · Lead over S&P 500 -0.1% · 1 year 15.8% · 100% evidence · 1 of 12 weeks ahead Exact sum: 17.3 + 6.7 + 12.1 + 7.3 = 43.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Worthington Steel, Inc.](https://www.sectoralpha.in/us/stocks/ws) WS · breaking out · Evidence leans down · 75% evidence 40.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.8/35 · Revenue 69.2% · Profit -144.4% · Operating margin change -3.2 points · 95% evidence Capital efficiency 8.2/25 · ROCE 4.2% · Operating margin 2.8% · 76% evidence Valuation 10.2/20 · P/E 17.4× · PEG n/a · 15% evidence Relative strength 11.5/20 · Lead over its industry -0.2% · Lead over S&P 500 2.9% · 1 year 27.7% · 100% evidence · 6 of 12 weeks ahead Exact sum: 10.8 + 8.2 + 10.2 + 11.5 = 40.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Algoma Steel Group Inc.](https://www.sectoralpha.in/us/stocks/astl) ASTL · breaking out · Evidence leans down · 64% evidence 40.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.9/35 · Revenue -32.8% · Profit n/a · Operating margin change -35.4 points · 62% evidence Capital efficiency 3.2/25 · ROCE -50.6% · Operating margin -51.4% · 76% evidence Valuation 11.5/20 · P/E -50.6× · PEG n/a · 15% evidence Relative strength 17.5/20 · Lead over its industry 12.2% · Lead over S&P 500 15.7% · 1 year 37.8% · 100% evidence · 5 of 12 weeks ahead Exact sum: 7.9 + 3.2 + 11.5 + 17.5 = 40.1 · What this means: Relative strength against the index is 15.7%, and revenue and profit growth are weak. 11. ArcelorMittal S.A. this page MT · quiet · Evidence leans down · 71% evidence 35.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.2/35 · Revenue 3.6% · Profit -27.4% · Operating margin change 5.8 points · 83% evidence Capital efficiency 9.2/25 · ROCE 2.2% · Operating margin 6.3% · 76% evidence Valuation 9.5/20 · P/E 25.3× · PEG n/a · 15% evidence Relative strength 1.5/20 · Lead over its industry -5.9% · Lead over S&P 500 -3.3% · 1 year 54.3% · 100% evidence · 5 of 12 weeks ahead Exact sum: 15.2 + 9.2 + 9.5 + 1.5 = 35.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 12. [Mesabi Trust](https://www.sectoralpha.in/us/stocks/msb) MSB · basing · Most evidence points down · 75% evidence 30.3 out of 100 Growth Capital Valuation Relative
13. Luda Technology Group Limited LUD · Too little evidence to rank firmly · 22% evidence 40.1 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Steel](https://www.sectoralpha.in/us/sectors/steel), all 13 compared on one page. ## Which companies are close to ArcelorMittal S.A. in size? ArcelorMittal S.A. is the 2nd largest of 16 Steel companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Nucor Corporation. Just below it: Steel Dynamics, Inc., Reliance, Inc., POSCO Holdings Inc., Ternium S.A. and Gerdau S.A. ### Steel companies close in size

1. [Nucor Corporation](https://www.sectoralpha.in/us/stocks/nue) $62.1 billion
2. ArcelorMittal S.A. $45.7 billion
3. [Steel Dynamics, Inc.](https://www.sectoralpha.in/us/stocks/stld) $35.2 billion
4. [Reliance, Inc.](https://www.sectoralpha.in/us/stocks/rs) $22.6 billion
5. [POSCO Holdings Inc.](https://www.sectoralpha.in/us/stocks/pkx) $15 billion
6. [Ternium S.A.](https://www.sectoralpha.in/us/stocks/tx) $10.1 billion
7. [Gerdau S.A.](https://www.sectoralpha.in/us/stocks/ggb) $8.6 billion

[All 16 Steel companies, largest first](https://www.sectoralpha.in/us/sectors/steel#all-companies)

### Companies close in size in other industries

1. [Waste Connections, Inc.](https://www.sectoralpha.in/us/stocks/wcn) $47.1 billion · Waste Management
2. [Westinghouse Air Brake Technologies Corporation](https://www.sectoralpha.in/us/stocks/wab) $46.9 billion · Railroads
3. ArcelorMittal S.A. $46.9 billion
4. [Ferguson Enterprises Inc.](https://www.sectoralpha.in/us/stocks/ferg) $46.8 billion · Industrial Distribution
5. [Block, Inc.](https://www.sectoralpha.in/us/stocks/xyz) $46.6 billion · Software - Infrastructure

## What else do people ask about ArcelorMittal S.A.? ### What were ArcelorMittal S.A.'s latest quarterly results? ArcelorMittal S.A. reported revenue of $16.8 B and net profit of $683 M for the Jun 2026 quarter. Revenue rose 5.2% and profit fell 61.9% compared with a year earlier. Earnings per share were $0.90. The operating margin was 6.3%, 5.8 percentage points higher than a year earlier (as of 3 November 2026). ### What is ArcelorMittal S.A.'s market cap? ArcelorMittal S.A.'s market capitalisation is $45.7 B at a stock price of $60.42. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is ArcelorMittal S.A. performing? ArcelorMittal S.A.'s share price has been moving sideways for 3 weeks. In its latest quarter, revenue rose 5.2% and profit fell 61.9% compared with a year earlier. Over the past 13 weeks it has done worse than the S&P 500, for 6 weeks running (as of 3 November 2026). ### Will ArcelorMittal S.A.'s stock price go up? This page does not forecast ArcelorMittal S.A.'s stock price. What it shows instead: the stock price is $60.42, and it has been moving sideways for 3 weeks. Its P/E of 26.0× is higher than 76% of its own last 4 years (as of 3 November 2026). ### Is ArcelorMittal S.A.'s profit real cash? Yes, over the last 3 years, 320% of ArcelorMittal S.A.'s reported profit came in as cash from operations. The latest year was lower at 153%, so the trend is worth watching. In FY25, operating cash was $4.8 B against reported profit of $3.2 B. Most of that cash then goes into building new capacity. These are yearly figures (as of 3 November 2026). ### Where is ArcelorMittal S.A. in its business cycle? ArcelorMittal S.A.'s FY25 operating margin was 2.7%, against a 5-year range of 2.7% to 21.7%: the low end of its own range, which is often where recoveries start. The latest quarter was 6.3%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the ArcelorMittal S.A. story? The main question: yearly earnings per share moved +143.2% while the share price moved +58.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is ArcelorMittal S.A. a stock worth studying right now? What the numbers show: ArcelorMittal S.A.'s earnings have grown faster than its share price. Earnings per share grew +143.2% in a year while the price moved +58.6%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.