CLF Stock Analysis: Cleveland-Cliffs | NYSE
Steel | NYSE, USA | Market Cap: 6.881m USD | 12M Return: -9.9% | US1858991011 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 201M
Qual. Beats: 0
Rev. Trend: -85.7%
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: -876.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.04 > 0.02 and ΔFCF/TA 2.98 > 1.0 |
| NWC/Revenue: 16.71% < 20% (prev 18.48%; Δ -1.76% < -1%) |
| CFO/TA -0.01 > 3% & CFO -251.0m > Net Income -876.0m |
| Net Debt (7.81b) to EBITDA (546.0m): 14.30 < 3 |
| Current Ratio: 1.89 > 1.5 & < 3 |
| Outstanding Shares: last quarter (571.0m) vs 12m ago 14.67% < -2% |
| Gross Margin: -0.65% > 18% (prev -5.29%; Δ 4.65% > 0.5%) |
| Asset Turnover: 94.59% > 50% (prev 90.16%; Δ 4.43% > 0%) |
| Interest Coverage Ratio: -0.88 > 6 (EBIT TTM -535.0m / Interest Expense TTM 609.0m) |
| A: 0.16 (Total Current Assets 6.81b - Total Current Liabilities 3.61b) / Total Assets 20.1b |
| B: -0.05 (Retained Earnings -911.0m / Total Assets 20.1b) |
| C: -0.03 (EBIT TTM -535.0m / Avg Total Assets 20.3b) |
| D: 0.39 (Book Value of Equity 5.60b / Total Liabilities 14.3b) |
| Altman-Z'' = 1.13 = BB |
| DSRI: 1.10 (Receivables 2.04b/1.78b, Revenue 19.2b/18.5b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 0.99 (AQ_t 0.20 / AQ_t-1 0.20) |
| SGI: 1.04 (Revenue 19.2b / 18.5b) |
| TATA: -0.03 (NI -876.0m - CFO -251.0m) / TA 20.1b) |
| Beneish M = -2.92 (Cap -4..+1) = A |
As of October 16, 2026, the stock is trading at USD 12.15 with a total of 24,289,376 shares traded. Over the past week, the price has changed by +4.31%, over one month by +7.98%, over three months by +28.50% and over the past year by -9.89%.
Current recommended Stop Loss: 11.30 (which is 7% or 1.3 ATR below the current price).
Cleveland-Cliffs has received a consensus analysts rating of 3.08. Therefore, it is recommended to hold CLF.
- StrongBuy: 1
- Buy: 0
- Hold: 11
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 12.6 | 3.7% |
P/E Forward = 15.9744
P/S = 0.3585
P/B = 1.2757
P/EG = 0.4272
Revenue TTM = 19.2b USD
EBIT TTM = -535.0m USD
EBITDA TTM = 546.0m USD
Long Term Debt = 7.70b USD (from longTermDebt, last quarter)
Short Term Debt = 115.0m USD (from shortTermDebt, last fiscal year)
Debt = 7.88b USD (from shortLongTermDebtTotal, last quarter) + Leases 174.1m
Net Debt = 7.81b USD (calculated: Debt 7.88b - CCE 70.0m)
Enterprise Value = 14.7b USD (6.88b + Debt 7.88b - CCE 70.0m)
Interest Coverage Ratio = -0.88 (Ebit TTM -535.0m / Interest Expense TTM 609.0m)
EV/FCF = -17.14x (Enterprise Value 14.7b / FCF TTM -857.0m)
FCF Yield = -5.83% (FCF TTM -857.0m / Enterprise Value 14.7b)
FCF Margin = -4.46% (FCF TTM -857.0m / Revenue TTM 19.2b)
Net Margin = -4.56% (Net Income TTM -876.0m / Revenue TTM 19.2b)
Gross Margin = -0.65% ((Revenue TTM 19.2b - Cost of Revenue TTM 19.3b) / Revenue TTM)
Gross Margin QoQ = 3.73% (prev -1.67%)
Tobins Q-Ratio = 0.73 (Enterprise Value 14.7b / Total Assets 20.1b)
Interest Expense / Debt = 7.73% (Interest Expense 609.0m / Debt 7.88b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -422.6m (EBIT -535.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.89 (Total Current Assets 6.81b / Total Current Liabilities 3.61b)
Debt / Equity = 1.41 (Debt 7.88b / totalStockholderEquity, last quarter 5.60b)
Debt / EBITDA = 14.30 (Net Debt 7.81b / EBITDA 546.0m)
Debt / FCF = -9.11 (negative FCF - burning cash) (Net Debt 7.81b / FCF TTM -857.0m)
Total Stockholder Equity = 5.75b (last 4 quarters mean from totalStockholderEquity)
RoA = -4.32% (Net Income -876.0m / Total Assets 20.1b)
RoE = -15.23% (Net Income TTM -876.0m / Total Stockholder Equity 5.75b)
RoCE = -3.98% (EBIT -535.0m / Capital Employed (Equity 5.75b + L.T.Debt 7.70b))
RoIC = -2.55% (negative operating profit) (NOPAT -422.6m / Invested Capital 16.6b)
WACC = 9.51% (E(6.88b)/V(14.8b) * Re(13.40%) + D(7.88b)/V(14.8b) * Rd(7.73%) * (1-Tc(0.21)))
Discount Rate = 13.40% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 77.33 | Cagr: 6.84%
[DCF] Fair Price = unknown (Cash Flow -857.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.11 | # QB: 0
Revenue Correlation: -85.72 | Revenue CAGR: -6.54% | SUE: 0.64 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.24 | Chg30d=+8.10% | Revisions=-40% | Analysts=8
EPS current Year (2026-12-31): EPS=-0.18 | Chg30d=+9.90% | Revisions=+25% | GrowthEPS=+92.7% | GrowthRev=+15.7%
EPS next Year (2027-12-31): EPS=0.93 | Chg30d=+47.40% | Revisions=+25% | GrowthEPS=+611.4% | GrowthRev=+3.7%
[Analyst] Revisions Ratio: +0% (up=2, down=2)