Stocks · Basic Materials · Steel
Cleveland-Cliffs Inc. CLF
$11.32 -1.31% Close, Oct 2, 2026 · NYSE · Market cap $6.46B
High risk
Next earnings report: Oct 19, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- The diluted share count rose 14.7% in a year.
- Net debt is 12.3× EBITDA, a high level of leverage.
- Earnings beat analyst estimates in each of the last 5 quarters (average surprise over the last four: +12.5%).
PromtFinance scores
Each score is a percentile within the Basic Materials sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 47%
- Revenue growth, 3-year CAGRBottom 25%
- Revenue growth accelerationTop 39%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 26%
- Gross marginBottom 5%
- Operating marginBottom 18%
- Accruals (lower is better)Bottom 28%
- Net debt / EBITDA (lower is better)Bottom 6%
- Interest coverBottom 19%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 15%
- Free-cash-flow yieldBottom 9%
- EBITDA / enterprise valueBottom 35%
- Sales / enterprise valueTop 10%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 37%
- 6-month returnTop 7%
- 1-year return vs S&P 500Bottom 37%
- Distance from 52-week highBottom 44%
- Trend checklist (0–4)Top 42%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 31%
- Consecutive EPS beatsTop 12%
- Share of analysts rating BuyBottom 8%
- Upside to consensus price targetBottom 11%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 25%
- Maximum drawdown, 3 yearsBottom 14%
- Beta vs S&P 500 (lower is better)Bottom 3%
- Net debt / EBITDA (lower is better)Bottom 6%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 1.5% | 4.0% | ↑ |
| Gross margin | -5.3% | -0.6% | ↑ |
| Operating margin | -9.5% | -3.6% | ↑ |
| FCF margin | -8.0% | -4.5% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 4.0% | 1.5% | ↑ | Bottom 47% |
| Gross margin | -0.6% | -5.3% | ↑ | Bottom 5% |
| Operating margin | -3.6% | -9.5% | ↑ | Bottom 18% |
| Net margin | -4.6% | -9.0% | ↑ | — |
| Free-cash-flow margin | -4.5% | -8.0% | ↑ | — |
| Return on invested capital | -2.9% | — | Bottom 26% | |
| Revenue growth, 3-year CAGR | -6.8% | — | Bottom 25% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -3.1%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +10.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 12.27×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -1.1×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -14.72%
- Shareholder yield
- -14.72%
- Share count change, 1 year
- +14.7%
- Share count change, 3-year CAGR
- +3.6%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 23, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 5
- Beats in the last 8 reports
- 5 of 8
- Average EPS surprise, last 4
- +12.5%
- Average 2-day reaction, last 8
- +3.4%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $11.93
- Target vs current price
- +5.4%
- Analysts with a rating
- 44
- Share rating Buy or Strong Buy
- 23%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 23, 2026 | +4.0% | +16.0% | +20.4% | +18.2% | — |
| Apr 20, 2026 | +9.1% | -2.1% | -1.8% | +3.7% | -0.9% |
| Feb 9, 2026 | +30.6% | -16.4% | -29.5% | -35.2% | -27.7% |
| Oct 20, 2025 | +6.2% | +21.5% | -1.4% | -19.4% | +4.8% |
| Jul 21, 2025 | +26.5% | +12.4% | +20.7% | +9.8% | +45.9% |
| May 7, 2025 | -11.5% | -1.4% | -12.0% | -12.4% | +16.8% |
| Feb 24, 2025 | -4.6% | -1.8% | -4.5% | -17.0% | -35.2% |
| Nov 4, 2024 | -6.5% | -1.2% | -3.0% | -3.3% | -22.8% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 23, 2026 | -$0.20 | -$0.21 | +4.0% | $5.23B |
| Apr 20, 2026 | -$0.40 | -$0.44 | +9.1% | $4.92B |
| Feb 9, 2026 | -$0.43 | -$0.62 | +30.6% | $4.31B |
| Oct 20, 2025 | -$0.45 | -$0.48 | +6.2% | $4.73B |
| Jul 21, 2025 | -$0.50 | -$0.68 | +26.5% | $4.93B |
| May 7, 2025 | -$0.92 | -$0.83 | -11.5% | $4.63B |
| Feb 24, 2025 | -$0.68 | -$0.65 | -4.6% | $4.33B |
| Nov 4, 2024 | -$0.33 | -$0.31 | -6.5% | $4.57B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / EBITDA | 22.7× | — | — | Bottom 35% |
| EV / Sales | 0.73× | — | — | Top 10% |
| Free-cash-flow yield | -13.27% | — | — | Bottom 9% |
| Earnings yield | -14.75% | — | — | Bottom 15% |
P/E over the past five years
Range 2.5× – 201.3× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- +8.5%
- 200-day average slope (20 days)
- -0.3%
- Distance from 50-day average
- -4.9%
- Distance from 200-day average
- -0.5%
- RSI (14)
- 44.3
- Relative volume
- 1.04×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 61.4%
- Volatility vs own 5-year history
- 59th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 2.09
- Correlation with S&P 500
- 0.45
- Current drawdown from 1-year high
- -30.0%
- Maximum drawdown, 3 years
- -74.5%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Mar 28, 2022 | May 30, 2025 | -82.4% | 796 days | Not yet recovered |
| Aug 10, 2021 | Jan 27, 2022 | -37.7% | 118 days | 26 days (Mar 7, 2022) |
| Jan 12, 2021 | Feb 26, 2021 | -28.1% | 31 days | 23 days (Mar 31, 2021) |
| Jun 11, 2021 | Jul 19, 2021 | -21.2% | 25 days | 8 days (Jul 29, 2021) |
| Mar 31, 2021 | Apr 20, 2021 | -17.4% | 13 days | 10 days (May 4, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $6.46B
- EPS, diluted (TTM)
- -$1.67
- Revenue (TTM)
- $19.20B
- 52-week range
- $7.73 – $16.70
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $20.44B | $22.99B | $22.00B | $19.18B | $18.61B |
| Gross profit | $4.53B | $2.52B | $1.39B | $70.0M | -$763.0M |
| Operating income | $4.01B | $1.94B | $677.0M | -$756.0M | -$1.36B |
| Net income | $2.99B | $1.33B | $399.0M | -$754.0M | -$1.48B |
| EPS (diluted) | $5.35 | $2.55 | $0.78 | -$1.57 | -$3.00 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.57B | $4.33B | $4.63B | $4.93B | $4.73B | $4.31B | $4.92B | $5.23B |
| Net income | -$242.0M | -$447.0M | -$495.0M | -$483.0M | -$251.0M | -$243.0M | -$237.0M | -$145.0M |
| EPS (diluted) | -$0.52 | -$0.92 | -$1.00 | -$0.97 | -$0.51 | -$0.49 | -$0.42 | -$0.25 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.79B | $2.42B | $2.23B | $105.0M | -$462.0M |
| Capital expenditure | -$705.0M | -$943.0M | -$646.0M | -$695.0M | -$561.0M |
| Free cash flow | $2.08B | $1.48B | $1.59B | -$590.0M | -$1.02B |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$1.02B | -$240.0M | -$152.0M | -$733.0M | $951.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $70.0M
- Total assets
- $20.11B
- Total liabilities
- $14.30B
- Total debt
- $7.70B
- Net debt
- $7.63B
- Shareholders’ equity
- $5.60B
As of Jun 30, 2026 (filed Jul 23, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Apr 2, 2020 | $0.06 | Apr 15, 2020 |
| Jan 2, 2020 | $0.06 | Jan 15, 2020 |
| Oct 3, 2019 | $0.06 | Oct 15, 2019 |
| Jul 3, 2019 | $0.06 | Jul 15, 2019 |
| Apr 4, 2019 | $0.05 | Apr 15, 2019 |
| Jan 3, 2019 | $0.05 | Jan 15, 2019 |
| Nov 12, 2014 | $0.15 | Dec 1, 2014 |
| Aug 13, 2014 | $0.15 | Sep 2, 2014 |
Short interest
- Shares sold short
- 80,326,843
- Days to cover
- 7.34
- Change vs previous report
- +0.9%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- May 16, 2008
- 2-for-1
- Jul 3, 2006
- 2-for-1
- Jan 3, 2005
- 2-for-1
- Sep 18, 1978
- 2-for-1
- Dec 16, 1975
- 2-for-1