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Cleveland-Cliffs Valuation Multiples
Discover revenue and EBITDA valuation multiples for Cleveland-Cliffs and similar public comparables like SSR Mining, Sandfire Resources, Ramelius Resources, Genesis Minerals and more.
Cleveland-Cliffs Overview
About Cleveland-Cliffs
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
Founded
1847
HQ
Employees
25.0K
Website
Sectors
Financials (LTM)
EV
$14B
Cleveland-Cliffs Financials
Cleveland-Cliffs reported last 12-month revenue of $19B and EBITDA of $365M.
In the same LTM period, Cleveland-Cliffs generated ($102M) in gross profit, $365M in EBITDA, and had net loss of ($1B).
Revenue (LTM)
Cleveland-Cliffs P&L
In the most recent fiscal year, Cleveland-Cliffs reported revenue of $19B and EBITDA of $45M.
Cleveland-Cliffs expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $19B | XXX | $19B | XXX | XXX | XXX |
| Gross Profit | ($102M) | XXX | ($860M) | XXX | XXX | XXX |
| Gross Margin | (1%) | XXX | (5%) | XXX | XXX | XXX |
| EBITDA | $365M | XXX | $45M | XXX | XXX | XXX |
| EBITDA Margin | 2% | XXX | 0% | XXX | XXX | XXX |
| EBIT Margin | (5%) | XXX | (8%) | XXX | XXX | XXX |
| Net Profit | ($1B) | XXX | ($1B) | XXX | XXX | XXX |
| Net Margin | (5%) | XXX | (7%) | XXX | XXX | XXX |
| Net Debt | — | — | $7B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Cleveland-Cliffs Stock Performance
Cleveland-Cliffs has current market cap of $7B, and enterprise value of $14B.
Market Cap Evolution
Cleveland-Cliffs' stock price is $11.40.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $14B | $7B | — | XXX | XXX | XXX | $-2.21 |
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Start Free TrialCleveland-Cliffs Valuation Multiples
Cleveland-Cliffs trades at 0.7x EV/Revenue multiple, and 37.5x EV/EBITDA.
EV / Revenue (LTM)
Cleveland-Cliffs Financial Valuation Multiples
As of March 28, 2026, Cleveland-Cliffs has market cap of $7B and EV of $14B.
Equity research analysts estimate Cleveland-Cliffs' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Cleveland-Cliffs has a P/E ratio of (6.4x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $7B | XXX | $7B | XXX | XXX | XXX |
| EV (current) | $14B | XXX | $14B | XXX | XXX | XXX |
| EV/Revenue | 0.7x | XXX | 0.7x | XXX | XXX | XXX |
| EV/EBITDA | 37.5x | XXX | 304.4x | XXX | XXX | XXX |
| EV/EBIT | (13.3x) | XXX | (9.8x) | XXX | XXX | XXX |
| EV/Gross Profit | (134.2x) | XXX | (15.9x) | XXX | XXX | XXX |
| P/E | (6.4x) | XXX | (5.2x) | XXX | XXX | XXX |
| EV/FCF | (20.0x) | XXX | (14.9x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Cleveland-Cliffs Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Cleveland-Cliffs Margins & Growth Rates
Cleveland-Cliffs' revenue in the last 12 month grew by 7%.
Cleveland-Cliffs' revenue per employee in the last FY averaged $0.8M.
Cleveland-Cliffs' rule of 40 is 9% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Cleveland-Cliffs' rule of X is 20% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Cleveland-Cliffs Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | 9% | XXX | XXX | XXX |
| EBITDA Margin | 2% | XXX | 0% | XXX | XXX | XXX |
| EBITDA Growth | 311% | XXX | 2985% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 9% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 20% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.8M | XXX | XXX | XXX |
| R&D Expenses to Revenue | 0% | XXX | — | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 3% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Cleveland-Cliffs Public Comps
See public comps and valuation multiples for other Metals & Mining comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| SSR Mining | XXX | XXX | XXX | XXX | XXX | XXX |
| Sandfire Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| Ramelius Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| Genesis Minerals | XXX | XXX | XXX | XXX | XXX | XXX |
| Discovery Silver | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Cleveland-Cliffs M&A Activity
Cleveland-Cliffs acquired XXX companies to date.
Last acquisition by Cleveland-Cliffs was on XXXXXXXX, XXXXX. Cleveland-Cliffs acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Cleveland-Cliffs
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
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Start Free TrialCleveland-Cliffs Investment Activity
Cleveland-Cliffs invested in XXX companies to date.
Cleveland-Cliffs made its latest investment on XXXXXXXX, XXXXX. Cleveland-Cliffs invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Cleveland-Cliffs
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Cleveland-Cliffs
| When was Cleveland-Cliffs founded? | Cleveland-Cliffs was founded in 1847. |
| Where is Cleveland-Cliffs headquartered? | Cleveland-Cliffs is headquartered in United States. |
| How many employees does Cleveland-Cliffs have? | As of today, Cleveland-Cliffs has over 25K employees. |
| Is Cleveland-Cliffs publicly listed? | Yes, Cleveland-Cliffs is a public company listed on NYSE. |
| What is the stock symbol of Cleveland-Cliffs? | Cleveland-Cliffs trades under CLF ticker. |
| When did Cleveland-Cliffs go public? | Cleveland-Cliffs went public in 1972. |
| Who are competitors of Cleveland-Cliffs? | Cleveland-Cliffs main competitors are SSR Mining, Sandfire Resources, Ramelius Resources, Genesis Minerals. |
| What is the current market cap of Cleveland-Cliffs? | Cleveland-Cliffs' current market cap is $7B. |
| What is the current revenue of Cleveland-Cliffs? | Cleveland-Cliffs' last 12 months revenue is $19B. |
| What is the current revenue growth of Cleveland-Cliffs? | Cleveland-Cliffs revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of Cleveland-Cliffs? | Current revenue multiple of Cleveland-Cliffs is 0.7x. |
| Is Cleveland-Cliffs profitable? | Yes, Cleveland-Cliffs is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Cleveland-Cliffs? | Cleveland-Cliffs' last 12 months EBITDA is $365M. |
| What is Cleveland-Cliffs' EBITDA margin? | Cleveland-Cliffs' last 12 months EBITDA margin is 2%. |
| What is the current EV/EBITDA multiple of Cleveland-Cliffs? | Current EBITDA multiple of Cleveland-Cliffs is 37.5x. |
| What is the current FCF of Cleveland-Cliffs? | Cleveland-Cliffs' last 12 months FCF is ($686M). |
| What is Cleveland-Cliffs' FCF margin? | Cleveland-Cliffs' last 12 months FCF margin is (4%). |
| What is the current EV/FCF multiple of Cleveland-Cliffs? | Current FCF multiple of Cleveland-Cliffs is (20.0x). |
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