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Friday 6 November 2026 Export CLF’s income statement to Excel — free account

Cleveland-Cliffs Inc.

CLF Basic Materials Steel

Cleveland-Cliffs Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.6 billion, down 3.00% from fiscal 2024.

Revenue
+18.6%
EPS
+152.9%
Free cash flow
+124.0%
Total debt
−4.90%

Quarter to September 2026, against a year earlier

11.35 1.49 −11.60%
Market cap
$6.4B
P/E
0.0×
Fwd P/E
216×
Dividend yield
—
F-score
2/9
Altman Z
1.12
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Cleveland-Cliffs Inc. (CLF) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Cleveland-Cliffs Inc. (CLF) trades at a P/B ratio of 1.1×. Over the past ten years it has ranged from 0.0× (December 2018) to 11.8× (April 2019); the current reading is higher than 57% of that period. That is in line with the Steel industry median of 1.1× and below the Basic Materials sector median of 1.7×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 1.1× 62.36%
FY2024 0.7× (47.07%)
FY2023 1.2× 14.56%
FY2022 1.1× (42.29%)
FY2021 1.9× (20.35%)
FY2020 2.4× (63.73%)
FY2019 6.5× 20.71%
FY2018 5.4× —
FY2017 0.0× —
FY2016 0.0× —

Quarterly newest first

Period P/B ratio Change
Sep 2026 1.1× 14.54%
Jun 2026 0.9× 15.17%
Mar 2026 0.8× (25.00%)
Dec 2025 1.1× 0.82%
43 more quarters

Against its own ten years

Low 0.0× High 11.8×
Ten-year median 1.0×
Current reading's percentile 35

P/B ratio against peers

Company P/B ratio
PKX POSCO Holdings Inc. compare 0.3×
TX Ternium S.A. compare 0.6×
MT ArcelorMittal compare 0.8×
GGB Gerdau S.A. compare 0.8×
CLF Cleveland-Cliffs Inc. 1.1×
WS Worthington Steel, Inc. compare 1.1×
SIM Grupo Simec, S.A. de C.V. compare 1.2×
RS Reliance, Inc. compare 2.7×
STLD Steel Dynamics, Inc. compare 3.3×
Steel industry median 1.1×
Basic Materials sector median 1.7×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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