Overview Dividends

(CLF) Cleveland-Cliffs - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US1858991011

Steel, Ore, Plates, Tubing, Stainless

CLF EPS (Earnings per Share)

EPS Growth (3Y CAGR): -2.40%
EPS Trend (3Y Correlation): -63.8%

CLF Revenue

Revenue Growth (3Y CAGR): -2.28%
Revenue Trend (3Y Correlation): -67.1%

Risk via 10d forecast
Volatility	93.4%
Value at Risk 5%th	132%
Relative Tail Risk	-13.86%

Reward TTM
Sharpe Ratio	0.16
Alpha	-38.45

Character TTM
Hurst Exponent	0.420
Beta	1.935
Beta Downside	1.807

Drawdowns 3y
Max DD	74.46%
Mean DD	34.95%
Median DD	34.40%

Description: CLF Cleveland-Cliffs November 05, 2025

Cleveland-Cliffs Inc. (NYSE: CLF) is a vertically integrated flat-rolled steel producer operating in the United States, Canada and select international markets. Its product slate spans hot-rolled, cold-rolled, galvanized, aluminized and advanced high-strength steels, a range of stainless-steel grades, electrical steel, as well as ancillary materials such as slab, rail, scrap, iron ore, coal, coke and tool-and-die components. The company also manufactures tubular products (carbon and stainless steel), tin-mill goods, and provides hot- and cold-stamp assembly, tooling and sampling services. Ownership of five iron-ore mines in Minnesota and Michigan underpins its raw-material supply chain.

Key operational metrics as of Q3 2024 show CLF reporting adjusted EBITDA of roughly $1.2 billion and a steel-segment capacity utilization near 85 %, reflecting strong demand from its core automotive, infrastructure and manufacturing customers. The firm’s earnings are highly sensitive to U.S. infrastructure spending levels-estimated to drive a 3-5 % incremental demand for construction-grade steel over the next 12 months-and to iron-ore price volatility, which currently sits around $115 per tonne, influencing both input costs and margins.

For a deeper, data-driven assessment of CLF’s valuation dynamics, consider exploring the analytical dashboards on ValueRay, where you can compare its performance against sector peers and track the impact of macro-economic trends.

CLF Stock Overview

Market Cap in USD	5,879m
Sub-Industry	Steel
IPO / Inception	1987-11-05
Return 12m vs S&P 500	-22.6%
Analyst Rating	3.33 of 5

CLF Dividends

Currently no dividends paid

CLF Growth Ratios

CAGR 3y	-10.78%
CAGR/Max DD Calmar Ratio	-0.14
CAGR/Mean DD Pain Ratio	-0.31
Current Volume	20080.9k
Average Volume	25982.7k

Piotroski VR‑10 (Strict, 0-10) 0.5

Net Income (-1.68b TTM) > 0 and > 6% of Revenue (6% = 1.12b TTM)

FCFTA -0.08 (>2.0%) and ΔFCFTA -10.84pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 18.31% (prev 13.88%; Δ 4.43pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.05 (>3.0%) and CFO -921.0m > Net Income -1.68b (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 2.04 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (492.2m) change vs 12m ago 5.16% (target <= -2.0% for YES)

Gross Margin -4.94% (prev 2.56%; Δ -7.49pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 100.4% (prev 118.9%; Δ -18.48pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -2.69 (EBITDA TTM -329.0m / Interest Expense TTM 577.0m) >= 6 (WARN >= 3)

Altman Z'' 0.54

(A) 0.17 = (Total Current Assets 6.69b - Total Current Liabilities 3.28b) / Total Assets 20.29b

(B) -0.01 = Retained Earnings (Balance) -286.0m / Total Assets 20.29b

(D) 0.04 = Book Value of Equity 617.0m / Total Liabilities 14.58b

Total Rating: 0.54 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 13.17

1. Piotroski 0.50pt = -4.50

2. FCF Yield -11.17% = -5.0

3. FCF Margin -8.31% = -3.12

4. Debt/Equity 1.47 = 1.51

5. Debt/Ebitda -24.23 = -2.50

6. ROIC - WACC (= -14.94)% = -12.50

7. RoE -27.70% = -2.50

8. Rev. Trend -67.05% = -5.03

9. EPS Trend -63.76% = -3.19

What is the price of CLF shares?

As of November 15, 2025, the stock is trading at USD 10.51 with a total of 20,080,900 shares traded.
Over the past week, the price has changed by +4.16%, over one month by -24.01%, over three months by -1.13% and over the past year by -11.83%.

Is Cleveland-Cliffs a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Cleveland-Cliffs (NYSE:CLF) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 13.17 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CLF is around 9.03 USD . This means that CLF is currently overvalued and has a potential downside of -14.08%.

Is CLF a buy, sell or hold?

Cleveland-Cliffs has received a consensus analysts rating of 3.33. Therefor, it is recommend to hold CLF.

Strong Buy: 3
Buy: 1
Hold: 6
Sell: 1
Strong Sell: 1

What are the forecasts/targets for the CLF price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	12.6	19.7%
Analysts Target Price	12.6	19.7%
ValueRay Target Price	9.9	-5.9%

CLF Fundamental Data Overview November 11, 2025

Market Cap USD = 5.88b (5.88b USD * 1.0 USD.USD)
P/E Forward = 29.4985
P/S = 0.3157
P/B = 1.0756
P/EG = -0.22
Beta = 1.984
Revenue TTM = 18.62b USD
EBIT TTM = -1.55b USD
EBITDA TTM = -329.0m USD
Long Term Debt = 8.04b USD (from longTermDebt, last quarter)
Short Term Debt = 113.0m USD (from shortTermDebt, last fiscal year)
Debt = 8.04b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 7.97b USD (from netDebt column, last quarter)
Enterprise Value = 13.85b USD (5.88b + Debt 8.04b - CCE 66.0m)
Interest Coverage Ratio = -2.69 (Ebit TTM -1.55b / Interest Expense TTM 577.0m)
FCF Yield = -11.17% (FCF TTM -1.55b / Enterprise Value 13.85b)
FCF Margin = -8.31% (FCF TTM -1.55b / Revenue TTM 18.62b)
Net Margin = -9.00% (Net Income TTM -1.68b / Revenue TTM 18.62b)
Gross Margin = -4.94% ((Revenue TTM 18.62b - Cost of Revenue TTM 19.54b) / Revenue TTM)
Gross Margin QoQ = -0.97% (prev -4.24%)
Tobins Q-Ratio = 0.68 (Enterprise Value 13.85b / Total Assets 20.29b)
Interest Expense / Debt = 1.90% (Interest Expense 153.0m / Debt 8.04b)
Taxrate = 25.24% (-78.0m / -309.0m)
NOPAT = -1.16b (EBIT -1.55b * (1 - 25.24%)) [loss with tax shield]
Current Ratio = 2.04 (Total Current Assets 6.69b / Total Current Liabilities 3.28b)
Debt / Equity = 1.47 (Debt 8.04b / totalStockholderEquity, last quarter 5.47b)
Debt / EBITDA = -24.23 (negative EBITDA) (Net Debt 7.97b / EBITDA -329.0m)
Debt / FCF = -5.15 (negative FCF - burning cash) (Net Debt 7.97b / FCF TTM -1.55b)
Total Stockholder Equity = 6.05b (last 4 quarters mean from totalStockholderEquity)
RoA = -8.26% (Net Income -1.68b / Total Assets 20.29b)
RoE = -27.70% (Net Income TTM -1.68b / Total Stockholder Equity 6.05b)
RoCE = -11.00% (EBIT -1.55b / Capital Employed (Equity 6.05b + L.T.Debt 8.04b))
RoIC = -8.48% (negative operating profit) (NOPAT -1.16b / Invested Capital 13.66b)
WACC = 6.45% (E(5.88b)/V(13.92b) * Re(13.33%) + D(8.04b)/V(13.92b) * Rd(1.90%) * (1-Tc(0.25)))
Discount Rate = 13.33% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.27%
Fair Price DCF = unknown (Cash Flow -1.55b)
EPS Correlation: -63.76 | EPS CAGR: -2.40% | SUE: 0.0 | # QB: 0
Revenue Correlation: -67.05 | Revenue CAGR: -2.28% | SUE: -1.83 | # QB: 0

Additional Sources for CLF Stock

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