CLF Stock Analysis: Cleveland-Cliffs | NYSE
Steel | NYSE, USA | Market Cap: 7.788m USD | 12M Return: -1.1% | US1858991011 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 280M
Qual. Beats: 0
Rev. Trend: -66.7%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Cleveland-Cliffs Inc. (NYSE: CLF) is a North American steel producer headquartered in Cleveland, Ohio, with operations in the United States and Canada. The company offers a diverse product portfolio that includes hot-rolled, cold-rolled, and coated steel products (such as aluminized, electrogalvanized, galvalume, galvanneal, and hot-dipped galvanized), as well as stainless and electrical steels, plate, and slab products. Beyond steelmaking, Cleveland-Cliffs produces non-steel items like stamped components, tooling, and tubing, while also supplying raw materials such as scrap, iron ore, hot-briquetted iron (HBI), coal, and coke.
The company is vertically integrated, engaging in iron ore mining, pellet production, direct reduced iron manufacturing, and ferrous scrap processing. Its downstream operations include stamping, tooling, and the production of tubular components made from carbon steel, stainless steel, and electric resistance welded products. Cleveland-Cliffs serves customers across multiple end markets, including the automotive sector, infrastructure and manufacturing, distributors and converters, and other steel producers.
Originally founded in 1847 and previously known as Cliffs Natural Resources Inc., the company adopted its current name in August 2017. As a mid-cap stock in the Materials sector and Steel sub-industry under the GICS classification, Cleveland-Cliffs represents one of the larger integrated steelmakers in North America, with its vertical integration into iron ore and raw material processing distinguishing it from many peers in the industry.
- Automotive steel demand pressured by UAW strike uncertainty
- Hot-rolled coil prices fall on softening manufacturing demand
- Iron ore and HBI cost inflation compresses steel segment margins
| Net Income: -473.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA 5.24 > 1.0 |
| NWC/Revenue: 16.50% < 20% (prev 18.31%; Δ -1.81% < -1%) |
| CFO/TA 0.01 > 3% & CFO 116.0m > Net Income -473.0m |
| Net Debt (7.74b) to EBITDA (985.0m): 7.86 < 3 |
| Current Ratio: 1.87 > 1.5 & < 3 |
| Outstanding Shares: last quarter (584.6m) vs 12m ago 18.79% < -2% |
| Gross Margin: 1.93% > 18% (prev -4.94%; Δ 6.86% > 0.5%) |
| Asset Turnover: 98.80% > 50% (prev 91.78%; Δ 7.02% > 0%) |
| Interest Coverage Ratio: -0.11 > 6 (EBIT TTM -67.0m / Interest Expense TTM 604.0m) |
| A: 0.16 (Total Current Assets 7.10b - Total Current Liabilities 3.79b) / Total Assets 20.3b |
| B: -0.04 (Retained Earnings -759.0m / Total Assets 20.3b) |
| C: -0.00 (EBIT TTM -67.0m / Avg Total Assets 20.3b) |
| D: 0.40 (Book Value of Equity 5.69b / Total Liabilities 14.4b) |
| Altman-Z'' = 1.34 = BB |
| DSRI: 1.11 (Receivables 2.16b/1.80b, Revenue 20.1b/18.6b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 0.99 (AQ_t 0.20 / AQ_t-1 0.20) |
| SGI: 1.08 (Revenue 20.1b / 18.6b) |
| TATA: -0.03 (NI -473.0m - CFO 116.0m) / TA 20.3b) |
| Beneish M = -2.89 (Cap -4..+1) = A |
As of October 30, 2026, the stock is trading at USD 13.94 with a total of 16,647,374 shares traded. Over the past week, the price has changed by -0.64%, over one month by +24.24%, over three months by +16.36% and over the past year by -1.06%.
Current recommended Stop Loss: 12.00 (which is 13.9% or 2.2 ATR below the current price).
Cleveland-Cliffs has received a consensus analysts rating of 3.23. Therefore, it is recommended to hold CLF.
- StrongBuy: 2
- Buy: 0
- Hold: 10
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 13.6 | -2.8% |
P/E Forward = 15.9744
P/S = 0.388
P/B = 1.2757
P/EG = 0.4272
Revenue TTM = 20.1b USD
EBIT TTM = -67.0m USD
EBITDA TTM = 985.0m USD
Long Term Debt = 7.25b USD (from longTermDebt, last fiscal year)
Short Term Debt = 115.0m USD (from shortTermDebt, last fiscal year)
Debt = 7.82b USD (from shortLongTermDebtTotal, last quarter) + Leases 174.1m
Net Debt = 7.74b USD (calculated: Debt 7.82b - CCE 77.0m)
Enterprise Value = 15.5b USD (7.79b + Debt 7.82b - CCE 77.0m)
Interest Coverage Ratio = -0.11 (Ebit TTM -67.0m / Interest Expense TTM 604.0m)
EV/FCF = -32.02x (Enterprise Value 15.5b / FCF TTM -485.0m)
FCF Yield = -3.12% (FCF TTM -485.0m / Enterprise Value 15.5b)
FCF Margin = -2.42% (FCF TTM -485.0m / Revenue TTM 20.1b)
Net Margin = -2.36% (Net Income TTM -473.0m / Revenue TTM 20.1b)
Gross Margin = 1.93% ((Revenue TTM 20.1b - Cost of Revenue TTM 19.7b) / Revenue TTM)
Gross Margin QoQ = 8.29% (prev 3.73%)
Tobins Q-Ratio = 0.76 (Enterprise Value 15.5b / Total Assets 20.3b)
Interest Expense / Debt = 7.72% (Interest Expense 604.0m / Debt 7.82b)
Taxrate = 21.60% (46.0m / 213.0m)
NOPAT = -52.5m (EBIT -67.0m * (1 - 21.60%)) [loss with tax shield]
Current Ratio = 1.87 (Total Current Assets 7.10b / Total Current Liabilities 3.79b)
Debt / Equity = 1.37 (Debt 7.82b / totalStockholderEquity, last quarter 5.69b)
Debt / EBITDA = 7.86 (Net Debt 7.74b / EBITDA 985.0m)
Debt / FCF = -15.96 (negative FCF - burning cash) (Net Debt 7.74b / FCF TTM -485.0m)
Total Stockholder Equity = 5.81b (last 4 quarters mean from totalStockholderEquity)
RoA = -2.33% (Net Income -473.0m / Total Assets 20.3b)
RoE = -8.14% (Net Income TTM -473.0m / Total Stockholder Equity 5.81b)
RoCE = -0.51% (EBIT -67.0m / Capital Employed (Equity 5.81b + L.T.Debt 7.25b))
RoIC = -0.32% (negative operating profit) (NOPAT -52.5m / Invested Capital 16.6b)
WACC = 9.39% (E(7.79b)/V(15.6b) * Re(12.74%) + D(7.82b)/V(15.6b) * Rd(7.72%) * (1-Tc(0.22)))
Discount Rate = 12.74% (= CAPM, Blume Beta Adj.) -> capped to 12.54%
Shares (quarterly) Correlation: 88.89 | Cagr: 9.77%
[DCF] Fair Price = unknown (Cash Flow -485.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.47 | # QB: 0
Revenue Correlation: -66.71 | Revenue CAGR: -4.62% | SUE: -0.72 | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.36 | Chg30d=+4.89% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=-0.26 | Chg30d=-53.88% | Revisions=+25% | GrowthEPS=+89.7% | GrowthRev=+15.2%
EPS next Year (2027-12-31): EPS=1.00 | Chg30d=+35.62% | Revisions=+25% | GrowthEPS=+491.5% | GrowthRev=+6.1%
[Analyst] Revisions Ratio: +29% (up=3, down=1)