Valuation, from the filing
| Public float | $3.70B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $6.48 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 0.2× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 0.6× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
21.8× earnings today, against a median of 5.9× across 7 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2023-06-30 | $8.39B | 21.8× | |
| 2022-06-30 | $7.84B | 5.9× | |
| 2021-06-30 | $10.64B | 3.6× | |
| 2019-06-28 | $2.84B | 9.7× | |
| 2018-06-30 | $2.49B | 2.2× | |
| 2017-06-30 | $2.04B | 5.6× | |
| 2016-06-30 | $1.07B | 6.1× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Metal Mining filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Long-term debt / equity | 1.15x | 100th | |
| Net margin | -7.9% | 89th | |
| Gross margin | -4.6% | 17th | |
| CapEx / revenue | 3.0% | 25th | |
| Operating margin | -8.5% | 70th | |
| FCF margin | -5.5% | 67th | |
| Revenue YoY growth | -3.0% | 53th | |
| Current ratio | 1.95x | 50th |
CLEVELAND-CLIFFS INC. (CLF) reported revenue of $20.07B and net income of -$473.00M for the fiscal year ended 2026-09-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from CLEVELAND-CLIFFS INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Metal Mining.
Income
| Metric | 2026-09-30 |
|---|---|
| Revenue | $20.07B |
| Cost of revenue | $19.76B |
| Gross profit | $309.00M |
| Operating income | -$282.00M |
| Net income | -$473.00M |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | -$685.00M |
| Income tax expense | -$261.00M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $575.00M |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-09-30 |
|---|---|
| Cash & equivalents | $77.00M |
| Total assets | $20.34B |
| Current assets | $7.10B |
| Total liabilities | $14.38B |
| Current liabilities | $3.79B |
| Total equity incl. NCI | $5.97B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | $4.69B |
| Accounts receivable | $2.16B |
| Goodwill | $1.78B |
| Long-term debt | $7.64B |
| Accounts payable | $2.33B |
Cash flow
| Metric | 2026-09-30 |
|---|---|
| Operating cash flow | $116.00M |
| Capital expenditures | $601.00M |
| Investing cash flow | -$472.00M |
| Financing cash flow | $362.00M |
| Net change in cash | Unavailable |
| Stock-based compensation | Unavailable |
| Common dividends paid | Unavailable |
| Common share repurchases | Unavailable |
| Depreciation & amortization | $1.05B |
Derived
| Metric | 2026-09-30 |
|---|---|
| Free cash flow | -$485.00M |
| Gross margin | 1.5% |
| Operating margin | -1.4% |
| FCF margin | -2.4% |
| SBC / revenue | Unavailable |
| Current ratio | 1.87x |
| Revenue YoY growth | 7.8% |
| Net margin | -2.4% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 3.0% |
| Long-term debt / equity | 1.28x |
| Effective tax rate | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open CLF in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.