How Much Does ArcelorMittal's Cost Of Sales Affect Its Expense Level And Profitability?

ArcelorMittal's (NYSE: MT) total expenses have trended steadily higher from around $55.1 billion in 2016 to about $70.7 billion in 2018. As a percentage of revenues, expenses have decreased from 97% in 2016 to 93% in 2018. The company's expenses are largely driven by cost of sales which accounted...