(CLF) Cleveland-Cliffs - Overview
Stock: Steel, Plates, Tubular, Stainless, Electrical
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 59.0% |
| Relative Tail Risk | -13.4% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.75 |
| Alpha | 11.74 |
| Character TTM | |
|---|---|
| Beta | 2.027 |
| Beta Downside | 1.959 |
| Drawdowns 3y | |
|---|---|
| Max DD | 74.46% |
| CAGR/Max DD | -0.18 |
Description: CLF Cleveland-Cliffs January 08, 2026
Cleveland-Cliffs Inc. (NYSE: CLF) is a vertically integrated flat-rolled steel producer operating in the United States, Canada, and select export markets. Its product slate spans hot- and cold-rolled, electro-galvanized, hot-dip galvanized, galvannealed, aluminized, galvalume, and advanced high-strength steels, as well as a broad range of stainless-steel grades, electrical steels, and specialty tubular components.
The company also controls upstream raw-material assets, including five iron-ore mines in Minnesota and Michigan, and supplies ancillary inputs such as scrap, coal, coke, and tool-and-die components. This integration is intended to mitigate commodity-price volatility and secure supply for its downstream steel-making operations.
Key customers are in the automotive, infrastructure, and general manufacturing sectors, with additional sales to distributors, converters, and other steel producers. CLF’s historical focus on bulk-commodity steel positions it to benefit from any upside in U.S. infrastructure spending and the ongoing shift toward higher-strength, lightweight steel in vehicle design.
Recent performance indicators (FY 2023) include a reported net income of $1.2 billion, an adjusted EBITDA margin of roughly 13 %, and an operating cash flow conversion of 85 % of net earnings-metrics that suggest improved profitability relative to the 2022 downturn. The firm’s iron-ore cost base remains approximately 15 % lower than the average North-American peer, providing a competitive cost advantage in a market where raw-material prices have risen 20 % year-over-year.
Macro-level drivers that could materially affect CLF’s outlook are: (1) the U.S. government’s infrastructure bill, which is projected to raise domestic steel demand by 3-5 % annually through 2028; (2) global steel capacity overhang, which keeps price volatility high; and (3) the ongoing transition to electric-vehicle production, which may shift demand toward higher-strength, lighter-weight steel alloys.
For a deeper quantitative view, you might explore ValueRay’s CLF dashboard to see the latest valuation metrics and scenario analyses.
Piotroski VR‑10 (Strict, 0-10) 0.5
| Net Income: -1.68b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.08 > 0.02 and ΔFCF/TA -10.84 > 1.0 |
| NWC/Revenue: 18.31% < 20% (prev 13.88%; Δ 4.43% < -1%) |
| CFO/TA -0.05 > 3% & CFO -921.0m > Net Income -1.68b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.04 > 1.5 & < 3 |
| Outstanding Shares: last quarter (492.2m) vs 12m ago 5.16% < -2% |
| Gross Margin: -4.94% > 18% (prev 0.03%; Δ -496.1% > 0.5%) |
| Asset Turnover: 100.4% > 50% (prev 118.9%; Δ -18.48% > 0%) |
| Interest Coverage Ratio: -2.69 > 6 (EBITDA TTM -329.0m / Interest Expense TTM 577.0m) |
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 -286.0m / Total Assets 20.29b) |
| C: -0.08 (EBIT TTM -1.55b / Avg Total Assets 18.54b) |
| D: 0.04 (Book Value of Equity 617.0m / Total Liabilities 14.58b) |
| Altman-Z'' Score: 0.54 = B |
Beneish M -2.56
| DSRI: 1.22 (Receivables 1.80b/1.58b, Revenue 18.62b/19.97b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.63 (AQ_t 0.20 / AQ_t-1 0.12) |
| SGI: 0.93 (Revenue 18.62b / 19.97b) |
| TATA: -0.04 (NI -1.68b - CFO -921.0m) / TA 20.29b) |
| Beneish M-Score: -2.56 (Cap -4..+1) = A |
What is the price of CLF shares?
Over the past week, the price has changed by -0.91%, over one month by +5.34%, over three months by +0.85% and over the past year by +38.63%.
Is CLF a buy, sell or hold?
- StrongBuy: 3
- Buy: 1
- Hold: 6
- Sell: 1
- StrongSell: 1
What are the forecasts/targets for the CLF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 13.5 | -5.1% |
| Analysts Target Price | 13.5 | -5.1% |
| ValueRay Target Price | 13.9 | -2.4% |
CLF Fundamental Data Overview January 25, 2026
P/S = 0.4617
P/B = 1.5728
P/EG = -0.22
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 = 16.57b USD (8.60b + Debt 8.04b - CCE 66.0m)
Interest Coverage Ratio = -2.69 (Ebit TTM -1.55b / Interest Expense TTM 577.0m)
EV/FCF = -10.71x (Enterprise Value 16.57b / FCF TTM -1.55b)
FCF Yield = -9.34% (FCF TTM -1.55b / Enterprise Value 16.57b)
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 = 0.82 (Enterprise Value 16.57b / Total Assets 20.29b)
Interest Expense / Debt = 1.90% (Interest Expense 153.0m / Debt 8.04b)
Taxrate = 21.0% (US default 21%)
NOPAT = -1.22b (EBIT -1.55b * (1 - 21.00%)) [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 = -9.04% (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 = -8.96% (negative operating profit) (NOPAT -1.22b / Invested Capital 13.66b)
WACC = 7.64% (E(8.60b)/V(16.64b) * Re(13.38%) + D(8.04b)/V(16.64b) * Rd(1.90%) * (1-Tc(0.21)))
Discount Rate = 13.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.27%
Fair Price DCF = unknown (Cash Flow -1.55b)
EPS Correlation: -72.68 | EPS CAGR: -21.33% | SUE: 4.0 | # QB: 1
Revenue Correlation: -76.29 | Revenue CAGR: -3.19% | SUE: -1.83 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.07 | Chg30d=-0.015 | Revisions Net=+0 | Analysts=5
EPS next Year (2026-12-31): EPS=0.20 | Chg30d=-0.019 | Revisions Net=-1 | Growth EPS=+108.1% | Growth Revenue=+9.2%