Cleveland-Cliffs Inc. (CLF) Stock

Cleveland-Cliffs Inc. (CLF) is a Materials stock trading at $11.30 (as of 2026-08-24), with a market capitalization of $6.45B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers carbon steel products, such as hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; raw materials; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products. Further, it owns five iron ore mines in Minnesota and Michigan. The company serves automotive, infrastructure and manufacturing, distributors and converters, and steel producers. Cleveland-Cliffs Inc. was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. The company was founded in 1847 and is headquartered in Cleveland, Ohio.

Understand Cleveland-Cliffs Inc.: how it makes money

Cleveland-Cliffs makes and sells flat-rolled steel products, stainless steel products, and tubular components, serving customers across automotive, infrastructure and manufacturing, and through distributors and converters.

CLF is primarily an operating company built around its steelmaking business, so investors typically track Steelmaking Segment Revenue and Price Realization to understand how the sales price and product market translate into margins.

Revenue by segment (latest quarter)
Auto$1.6B
Infra$1.4B
Dist$1.4B

Business quality (Weak): Clear, steel-focused product and market mix, but the latest quarter shows negative gross and operating margins, which makes profitability a key near-term watch item.

Bull case

  • Product and capability breadth: CLF offers a range of carbon steel and stainless steel products, plus tubular components, including multiple types of coated and advanced high-strength steel products.
  • Multiple end markets: Revenue exposure spans direct automotive customers, infrastructure and manufacturing, and sales to distributors and converters.

Bear case

  • Profitability is currently negative: For the latest period, gross margin is -1.7% and operating margin is -4.3%, indicating the business is not covering operating costs on the current revenue base.
  • Market economics may be unfavorable: Because the operating model is tied to steelmaking outcomes such as Price Realization, weakness in pricing relative to business conditions can quickly pressure margins.
Valuation — source: SEC EDGAR (first-party)
Price$11.30
Market Cap$6.45B
EV / EBITDA51.0
Price / Book1.11
Price / Sales0.34
FCF Yield-13.3%
DCF Value (model)$0.05
DCF Upside vs Price-99.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$18.61B
Net Margin-7.9%
Revenue Growth (YoY)5.9%
EPS Growth (YoY)-74.5%
FCF Growth (YoY)-209.0%
Financial Health — source: SEC EDGAR
Altman Z-Score1.10 (distress)
Piotroski F-Score2/9 (weak)
Valuation vs Sector & Industry
Sector P/E (Materials)25.9
Industry P/E (Metal Mining)26.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($722.32M)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorMaterials
IndustryMetal Mining
CEOC. Lourenco Goncalves
Employees30,000
CountryUS
IPO Date1987-11-05

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CLF earnings history · CLF institutional & insider holders · CLF KPIs & operating metrics · CLF financials · CLF investor presentations & press releases · CLF SEC filings · CLF peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.