# Cleveland-Cliffs Inc. (CLF) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Basic Materials / Metals & Mining. Price $12.50, market value $7.1 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Cleveland-Cliffs Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.4×**. Each dollar of revenue is priced at 0.4×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 1.3×**. The shares trade at 1.3× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 51.0×**. Enterprise value is 51.0× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: -12.0%** (5-yr avg 4.4%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Operating margin: -4.2%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -7.9%**. The company reported a net loss over the last twelve months.
- **Return on equity: -24.2%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -4.7%**. Return on all capital, debt included, is -4.7%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -4.5%**. Each dollar of assets produces -4.5% of profit.

## Growth
- **Revenue growth (1 yr): -3.0%** (3-yr -6.8%/yr, 5-yr 28.3%/yr). Revenue fell 3.0% over the last year, against 28.3% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -84.2%**. Earnings per share fell 84.2%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 1.19**. Debt is 1.19 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 25.6×**. It would take 25.6 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 1.41**. A Z-score of 1.41 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Cleveland-Cliffs Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: hold** (10 analysts). 10 analysts cover Cleveland-Cliffs Inc.; the consensus is hold, with an average price target of $11.90 (-5% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 18.8%** (YTD -5.9%, 3-mo -7.6%). The shares are up 18.8% over twelve months including dividends.
- **From 52-week high: -25.1%** (61.7% above the low). Trading 25% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 60**. An RSI of 60 is neutral.
- **Beta (1 yr): 2.23** (volatility 70%). Beta of 2.23 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CLF · Page: https://foliofundamentals.com/stocks/clf

Not investment advice.