Cleveland-Cliffs Inc. (CLF) Stock: Price, Forecast & Analyst Target
Cleveland-Cliffs Inc. (CLF) — MoonshotScore 26/100 (Weak band), calculated Oct 5, 2026. Price $11.32 (-1.31%), as of the Oct 2, 2026 trading session; market cap $6.46B. Expected results Oct 19, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 92.29× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Oct 19, 2026
Cleveland-Cliffs Inc. · CLF · NYSE · Basic Materials · Steel
Research dated 2026-09-13: Cleveland-Cliffs operates as a vertically integrated steelmaker, controlling the industrial chain from Midwestern iron ore mines to finished flat-rolled coils and tubular components. Because the balance sheet carries substantial debt against a modest cash reserve, the decisive factor for equity holders is whether recent pricing improvements can return the primary steel business to sustained profitability.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · Cleveland-Cliffs (CLF)
WeakWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
Bottom-tier quality, a fragile balance sheet and stalling growth, and it’s expensive on top — broad distress, a capital-preservation call, not a value entry. Business Quality: Thin; Financial Safety: Fragile; Valuation: Rich; Growth Durability: Shrinking; Momentum: Rising.
- quarterly revenue $5.23B (Q2 FY2026, quarter ended Jun 2026)
- EPS beat 5 of 8
- Altman Z 1.27 · Piotroski F 4
Holding back: weak fundamentals, balance-sheet strain, a rich price, soft growth
Helping: positive momentum
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 26 | Weak | |
| 26 | Weak | |
| 26 | Weak | |
| 26 | Weak | |
| 26 | Weak | |
| 26 | Weak |
The score was 26 in the stored Oct 4, 2026 snapshot and remains 26 in the current publication computed Oct 5, 2026 (0); the largest pillar moves were Growth Durability +2 and Valuation -1; the pillar moves offset under the sector-relative weighting, so the headline score is unchanged. This current publication is not yet represented in the immutable snapshot archive.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $11.32 | |
| Change on the day | -1.31% | |
| 52-week range | $7.73 – $16.70 | |
| Market capitalisation | $6.46B | |
| Price / earnings (trailing) | 18.73 | |
| Shares traded on the day | 14.61M | |
| Beta (volatility vs the S&P 500) | 2.11 |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings call · management outlook
- · Earnings results · above the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
This climb will continue into Q3 as we have visibility on pricing on nearly every ton we will ship in the next quarter.
Celso Goncalves · Statement from
Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsOther perspectives
Council score for Cleveland-Cliffs (CLF): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
5-Factor Breakdown
Legends Council
6 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Oct 3, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Oct 3, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Oct 3, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.
Readings on this page are from Oct 5, 2026, except a card that shows its own read date.
Watch the CLF film — every key number, told as a short cinematic story
~2 min · open the film
What is Cleveland-Cliffs (CLF), and what does it report?
Short answer · as of
The company functions differently from basic steel converters because it owns the raw materials.
Research dated 2026-09-13.
The company functions differently from basic steel converters because it owns the raw materials. By pulling iron ore from its own mines and processing it into specialized electrical and automotive steel, the business captures the entire manufacturing margin rather than just the fabrication markup.
When examining the income statement, the vast majority of revenue flows through the steelmaking segment, meaning overall financial health moves directly with industrial demand and negotiated metal prices.
What do the latest results show for Cleveland-Cliffs (CLF)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $5.23B.
Research dated 2026-09-13.
Recent earnings reports reveal a prolonged period of net losses and negative operating margins. Revenue has steadily declined on an annual basis, pushing the company into successive reporting deficits.
However, the latest filing shows a shift back to positive operating cash flow, aligning with executive comments that fixed pricing agreements for upcoming shipments should provide revenue stability. Management argues that this forward visibility will support further financial improvement in the coming periods.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $5.23B Jun 30, 2026
- Latest quarter · SG&A
- $154.00M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $14.00M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $5.23B | Not available | $154.00M | $14.00M |
| Mar 31, 2026 | $4.92B | Not available | $125.00M | −$207.00M |
| Dec 31, 2025 | $4.31B | Not available | $144.00M | −$322.00M |
| Sep 30, 2025 | $4.73B | Not available | $130.00M | −$176.00M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $5.23B Jul 23, 2026
- Latest report · revenue estimate
- $5.15B Jul 23, 2026
- Latest report · revenue vs estimate
- Above estimate Jul 23, 2026
- Latest report · EPS vs estimate
- Above estimate Jul 23, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Jul 23, 2026 | $5.23B | $5.15B | −$0.2000 | −$0.2084 |
| Apr 20, 2026 | $4.92B | $4.81B | −$0.4000 | −$0.4400 |
| Feb 9, 2026 | $4.31B | $4.57B | −$0.4300 | −$0.6200 |
| Oct 20, 2025 | $4.73B | $4.66B | −$0.4500 | −$0.4800 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $5.23B | -$145M | -$0.25 (diluted) |
| Q1 FY2026 | $4.92B | -$237M | -$0.42 (diluted) |
| Q4 FY2025 | $4.31B | -$243M | -$0.49 (diluted) |
| Q3 FY2025 | $4.73B | -$251M | -$0.51 (diluted) |
What are the financial strengths and risks for Cleveland-Cliffs (CLF)?
Short answer
Cash and short-term investments were $70.00M at the Jun 30, 2026 balance-sheet date. Operating cash flow was $230.00M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-13.
The capital structure presents a stark imbalance between available liquidity and long-term obligations. Cash equivalents amount to a tiny portion of the massive debt burden, leaving the operation highly vulnerable to any demand shock.
Although cash flow from operations recently turned positive, liquidity remains constrained by capital expenditures and structural debt costs. If automotive or infrastructure customers slow their purchasing, the resulting revenue drop would immediately strain the balance sheet.
Data-derived red flags
- Financial-distress signal — its Altman Z-Score of 1.27 sits in the distress zone (elevated bankruptcy risk).
- Negative return on equity (-18.6%) — the business is not currently generating profit on shareholder capital.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $230.00M Jun 30, 2026
- Previous quarter · operating cash flow
- −$325.00M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $230.00M | −$157.00M |
| Mar 31, 2026 | −$325.00M | −$152.00M |
| Dec 31, 2025 | −$13.00M | −$140.00M |
| Sep 30, 2025 | −$143.00M | −$157.00M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at Cleveland-Cliffs (CLF)?
Short answer · as of
The next earnings report is expected on Oct 19, 2026.
Research dated 2026-09-13.
Investors should monitor the upcoming earnings release to verify if the promised pricing visibility translates into actual profit. Since executives projected a continuous climb based on locked-in contract rates, the gross margin line will confirm whether those higher prices offset fixed production costs.
Any return to negative operating cash flow would signal that the expected pricing power failed to materialize in actual customer deliveries. Analysts have broadly adjusted their ratings downward, raising the stakes for the next financial update.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
This climb will continue into Q3 as we have visibility on pricing on nearly every ton we will ship in the next quarter.
Celso Goncalves ·
How does Cleveland-Cliffs compare with its peers?
Short answer
Cleveland-Cliffs's score ranks 13th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-13.
While many peers operate electric arc furnaces that rely on purchased scrap metal, Cleveland-Cliffs relies heavily on its internal iron ore supply and blast furnace infrastructure. This vertical integration shields the company from volatile commodity prices but requires massive fixed investments to maintain the mines and smelting facilities.
Consequently, the business requires high production volumes to cover its fixed overhead, making its profit margins far more sensitive to economic cycles than competitors who can easily scale down purchased inputs.
| Company | Price | Market value | Score |
|---|---|---|---|
| $17.51 Oct 5, 2026 | $8.71B | 86 5-pillar Oct 5, 2026 | |
| $408.24 Oct 5, 2026 | $20.4B | 83 5-pillar Oct 5, 2026 | |
| $27.26 Oct 5, 2026 | $12.2B | 79 5-pillar Oct 5, 2026 | |
| $241.04 Oct 5, 2026 | $33.3B | 77 5-pillar Oct 5, 2026 | |
| $251.41 Oct 5, 2026 | $54.8B | 76 5-pillar Oct 5, 2026 | |
| $5.17 Oct 5, 2026 | $10.3B | 69 5-pillar Oct 5, 2026 | |
| $57.97 Oct 5, 2026 | $11.1B | 67 5-pillar Oct 5, 2026 | |
| $64.73 Oct 5, 2026 | $49.1B | 63 5-pillar Oct 5, 2026 | |
| $65.51 Oct 5, 2026 | $7.03B | 62 5-pillar Oct 5, 2026 | |
| $39.12 Oct 5, 2026 | $1.88B | 60 5-pillar Oct 5, 2026 | |
| $64.94 Oct 5, 2026 | $7.42B | 59 5-pillar Oct 5, 2026 | |
| $21.04 Oct 5, 2026 | $856M | 55 5-pillar Oct 5, 2026 | |
| Cleveland-Cliffs (CLF) — this page | $11.32 | $6.46B | 26 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $9.00 – $17.48
- Consensus target
- $11.93
- Median target
- $11.50
Consensus record · Captured .
Measured against a quoted price of $11.32 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Of the newest 60 records, those within the last 180 days, newest dated Oct 1, 2026
- Transactions
- 12
- Identified insiders
- 8
- Purchases
- 0
- Sales
- 1
- Other transactions
- 11
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 85.6% Period end Jun 30, 2026
- Previous quarter · ownership
- 83.1% Prior to period end Jun 30, 2026
- Reporting holders
- 645 Period end Jun 30, 2026
- Previous quarter · holders
- 623 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Blackrock, INC. | 55,672,638 |
| State Street Corp | 33,248,516 |
| Slate Path Capital LP | 28,410,081 |
| Vanguard Capital Management LLC | 25,796,291 |
| Vanguard Portfolio Management LLC | 25,187,723 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about Cleveland-Cliffs (CLF)?
Cleveland-Cliffs Basic Materials Stock: Key Questions Answered
Research dated 2026-09-13; the answers below are from that research, and the full attribution is under Sources. The last 2 questions are answered from this page's own dated data, not from the research.
How does the iron ore mining operation impact the financial results?
Controlling the raw material supply removes the need to buy commodity inputs on the open market, insulating the manufacturing process from sudden cost spikes. However, operating active mines requires continuous capital spending, which drags down free cash flow during periods when finished steel demand weakens.
Does the cash balance provide enough security against the current debt load?
The available liquidity falls dramatically short of total liabilities, meaning the business cannot rely on savings to service its obligations. Management must fund ongoing debt service directly from operational cash flow, making any prolonged drop in metal prices a serious threat to solvency.
Why did analysts recently change their outlook on the equity?
Multiple research firms downgraded their ratings or assumed neutral stances following a string of successive reporting losses and negative profit margins. The shift in consensus sentiment reflects growing skepticism about how quickly the steelmaker can return to positive earnings under its current capital structure.
Are executives forecasting better profit margins in the near future?
Leadership recently told investors that they possess clear visibility into shipment pricing for the upcoming period, predicting a continuous climb in financial performance. This optimism relies on contract rates holding steady across their customer base, particularly in the automotive and manufacturing sectors.
What is the CLF stock price today?
The last price recorded on this page for Cleveland-Cliffs Inc. (CLF) is $11.32, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the CLF price target?
The analyst consensus price target for Cleveland-Cliffs Inc. (CLF) is $11.93 (range $9.00 to $17.48, median $11.50), per FMP data captured Oct 5, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-13. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (80 figures)
The 80 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 2 facts from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | Celso Goncalves (Jul 23, 2026): This climb will continue into Q3 as we have visibility on pricing on nearly every ton we will ship in the next quarter. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | |
id.hq | SEC filing business address | 200 Public Square, STE. 3300, Cleveland, OH, 44114-2315 | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "200 Public Square, Cleveland, OH, 44114-2315, US". |
FMP — 69 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Oct 19, 2026 | FMP | Financial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it. | |
px.last | Latest provided price | $11.32 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-05T04:54:21.368Z. | |
px.change | Change on the day | -1.31% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $6.46B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:03.000Z. Captured from FMP at 2026-10-05T04:54:19.462Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | −$0.15 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $5.23B | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.pe | Price / earnings (trailing) | 18.73 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 14.61M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 2.11 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | C. Lourenco Goncalves | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 25,000 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $20.44B, net result $2.99B; FY2022 revenue $22.99B, net result $1.33B; FY2023 revenue $22.00B, net result $399.00M; FY2024 revenue $19.18B, net result −$754.00M; FY2025 revenue $18.61B, net result −$1.48B | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Steelmaking $17.95B · Other businesses $657.00M | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | -0.6% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $5.23B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $154.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $14.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $4.92B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $125.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | −$207.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $4.31B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $144.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | −$322.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $4.73B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $130.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | −$176.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-07-23.revenue_actual | Revenue · reported — report date 2026-07-23 | $5.23B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-23.revenue_estimated | Revenue · estimate — report date 2026-07-23 | $5.15B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-23.eps_actual | EPS · reported — report date 2026-07-23 | −$0.2000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-23.eps_estimated | EPS · estimate — report date 2026-07-23 | −$0.2084 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-20.revenue_actual | Revenue · reported — report date 2026-04-20 | $4.92B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-20.revenue_estimated | Revenue · estimate — report date 2026-04-20 | $4.81B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-20.eps_actual | EPS · reported — report date 2026-04-20 | −$0.4000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-20.eps_estimated | EPS · estimate — report date 2026-04-20 | −$0.4400 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-09.revenue_actual | Revenue · reported — report date 2026-02-09 | $4.31B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-09.revenue_estimated | Revenue · estimate — report date 2026-02-09 | $4.57B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-09.eps_actual | EPS · reported — report date 2026-02-09 | −$0.4300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-09.eps_estimated | EPS · estimate — report date 2026-02-09 | −$0.6200 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-20.revenue_actual | Revenue · reported — report date 2025-10-20 | $4.73B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-20.revenue_estimated | Revenue · estimate — report date 2025-10-20 | $4.66B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-20.eps_actual | EPS · reported — report date 2025-10-20 | −$0.4500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-20.eps_estimated | EPS · estimate — report date 2025-10-20 | −$0.4800 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $70.00M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $230.00M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $135.00M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $7.70B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 1.15× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $230.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | −$325.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$157.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$152.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | −$13.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$140.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | −$143.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$157.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $9.00 – $17.48 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $11.93 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $11.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 12 transactions · 0 purchases, 1 sales, 11 other transactions · 8 identified insiders · of the newest 60 records, those within the last 180 days, newest dated Oct 1, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 85.6% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 83.1% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 645 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 623 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Blackrock, INC. — shares in provider snapshot | 55,672,638 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | State Street Corp — shares in provider snapshot | 33,248,516 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Slate Path Capital LP — shares in provider snapshot | 28,410,081 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Vanguard Capital Management LLC — shares in provider snapshot | 25,796,291 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Vanguard Portfolio Management LLC — shares in provider snapshot | 25,187,723 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 4 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.history | Reported versus estimated, recent quarters | EPS beat 5 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-10-03 · Expired observation | |
fin.scores | Distress and quality screens | Altman Z 1.27 · Piotroski F 4 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-04 · Expired observation | |
px.range52 | 52-week range | $7.73 – $16.70 | UNRECORDED | Stored company-profile observation — Captured 2026-10-03 | |
fin.ratios | Return and yield ratios (trailing twelve months) | ROE -18.6% · ROA -2.7% · current ratio 2.02 | — | UNRECORDED | Stored key metrics — Date unknown |
COMPUTED — 3 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 92.29× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $70.00M at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
earn.history.depth.2026-07-23.revenue_actual.comparison | Latest report · revenue vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($5.23B) with the recorded estimate ($5.15B) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-07-23.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS (−$0.2000) with the recorded estimate (−$0.2084) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 26 of 100 · Weak · pillars 21 / 6 / 31 / 17 / 78 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 26 (stored snapshot Oct 4, 2026) → 26 (current publication computed Oct 5, 2026) (0) | OURS | Stock Expert AI current score publication and immutable score snapshots — The current score publication is not yet represented in the immutable snapshot archive. |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-07-23. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-07-23.revenue_actual,earn.history.depth.2026-07-23.revenue_estimated,earn.history.depth.2026-07-23.revenue_actual.comparison,earn.history.depth.2026-07-23.eps_actual.comparison,earn.history.depth.2026-07-23.eps_actual,earn.history.depth.2026-07-23.eps_estimated,earn.history.depth.2026-04-20.revenue_actual,earn.history.depth.2026-04-20.revenue_estimated,earn.history.depth.2026-04-20.eps_actual,earn.history.depth.2026-04-20.eps_estimated,earn.history.depth.2026-02-09.revenue_actual,earn.history.depth.2026-02-09.revenue_estimated,earn.history.depth.2026-02-09.eps_actual,earn.history.depth.2026-02-09.eps_estimated,earn.history.depth.2025-10-20.revenue_actual,earn.history.depth.2025-10-20.revenue_estimated,earn.history.depth.2025-10-20.eps_actual,earn.history.depth.2025-10-20.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-13
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Business description | Cleveland-Cliffs Inc. stands as a prominent North American manufacturer specializing in flat-rolled steel. The company's diverse product portfolio encompasses a wide array of carbon steel forms, including hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel. Additionally, they supply stainless steel, various steel plates, and specialized electrical steels (both grain-oriented and non-oriented). Beyond these core offerings, Cleveland-Cliffs produces tubular components, fabricated from carbon steel, stainless steel, and via electric resistance welding. Their tinplate division manufactures electrolytic tin-coated and chrome-coated sheets, alongside other tin mill products. The company also provides essential raw materials, ingots, rolled and cast blooms, hot-briquetted iron, and services like tooling and sampling. A key aspect of its operations is vertical integration, as the company owns and manages five iron ore mines located in Minnesota and Michigan. Cleveland-Cliffs serves a broad customer base, including the automotive industry, infrastructure and general manufacturing sectors, distributors, converters, and other steel producers. Founded in 1847, the company is headquartered in Cleveland, Ohio, and officially adopted the name Cleveland-Cliffs Inc. in August 2017, having previously been known as Cliffs Natural Resources Inc. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
| Cash, investments and debt | Total debt: $7.70B; Liquidity basis: cash and short-term investments; Total liabilities: $14.30B; Cash and short-term investments: $70.00M; Cash and investments: $205.00M; Long-term investments: $135.00M; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Management outlook — dated call excerpts | Captured record · 1 entry
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-07-23 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Revenue by segment | Steelmaking: $17.95B; Other businesses: $657.00M | 2025-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Cash runway cross-check (ours) | Years: 0.1; Method: cash and short-term investments of $70M at 2026-06-30 divided by the annualized rate at which operations and capital spending used cash ($1169.5M per year); Reaches: 2026-07; Cash basis: cash and short-term investments; Cash: $70.00M; Annualized cash use: $1.17B Rate taken from operating cash flow less capital expenditure over the 8 most recent reported quarters, annualized.; Measured from operations, not from the change in the cash balance — a company that raised money during the window would otherwise appear to be burning less than it is.; Assumes that rate continues unchanged: it ignores announced cost reductions, financing already arranged and any change in spending.; Assumes the reported cash and short-term investments are realizable for funding operations; restrictions and timing of access are not established by these provider fields. Long-term investments are excluded.; It is a cross-check, not a forecast, and the company's own statement about its runway outranks it. | 2026-06-30 | COMPUTED | Computed from reported cash flow; assumptions stated |
| Trailing twelve-month ratio set | Quick ratio: 0.63; Current ratio: 1.89; Debt to equity: 1.37; Net margin: -4.6%; Gross margin: -0.6%; Operating margin: -3.6%; Return on assets: -4.4%; Return on equity: -15.2% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Next earnings report | Date: 2026-10-19; EPS estimate: $0.24 per share; Revenue estimate: $5.70B The date is our provider's estimate until the company confirms it. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-07-23 | FMP | Financial Modeling Prep (FMP) earnings |
| Analyst actions, most recent per firm | Captured record · 10 entries
One row per firm — the firm's most recent action in our feed. Other data vendors may carry firms ours does not. | 2026-09-09 | FMP | Financial Modeling Prep (FMP) analyst grades |
| Analyst revenue and earnings estimates (average) | Captured record · 4 entries
| 2026-09-13 | FMP | Financial Modeling Prep (FMP) analyst estimates |
Data provided for informational purposes only.