CLEVELAND-CLIFFS INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 15.65 USD | -0.95% |
|
-8.80% | -23.36% |
| May. 28 | Cleveland-Cliffs to Buy US Assets of Novolipetsk Steel | MT |
| May. 28 | Cleveland-Cliffs Reportedly in Talks to Buy NLMK | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,269 | 6,951 | 10,887 | 8,302 | 10,309 | 7,513 | - | - |
| Enterprise Value (EV) 1 | 4,030 | 12,229 | 16,077 | 12,721 | 13,248 | 10,936 | 10,530 | 10,292 |
| P/E ratio | 8.16 x | -45.5 x | 4.06 x | 6.32 x | 26.2 x | 34.6 x | 10.4 x | 9.03 x |
| Yield | 3.21% | 0.41% | - | - | - | - | - | - |
| Capitalization / Revenue | 1.14 x | 1.3 x | 0.53 x | 0.36 x | 0.47 x | 0.36 x | 0.36 x | 0.35 x |
| EV / Revenue | 2.03 x | 2.28 x | 0.79 x | 0.55 x | 0.6 x | 0.52 x | 0.5 x | 0.49 x |
| EV / EBITDA | 7.68 x | 34.6 x | 3.06 x | 4.01 x | 6.93 x | 6.94 x | 5 x | 4.56 x |
| EV / FCF | -43.1 x | -15.6 x | 7.73 x | 8.59 x | 8.17 x | 20 x | 15.8 x | 27.3 x |
| FCF Yield | -2.32% | -6.43% | 12.9% | 11.6% | 12.2% | 5.01% | 6.34% | 3.66% |
| Price to Book | 6.34 x | 3.45 x | 1.98 x | 1.06 x | 1.31 x | 1.01 x | 0.94 x | 0.84 x |
| Nbr of stocks (in thousands) | 270,084 | 477,428 | 500,091 | 515,302 | 504,861 | 475,476 | - | - |
| Reference price 2 | 8.400 | 14.56 | 21.77 | 16.11 | 20.42 | 15.80 | 15.80 | 15.80 |
| Announcement Date | 2/20/20 | 2/25/21 | 2/11/22 | 2/13/23 | 1/29/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,990 | 5,354 | 20,444 | 22,989 | 21,996 | 21,085 | 21,084 | 21,165 |
| EBITDA 1 | 524.8 | 353 | 5,262 | 3,169 | 1,911 | 1,576 | 2,108 | 2,257 |
| EBIT 1 | 429.3 | -142 | 4,012 | 1,939 | 814 | 550.4 | 1,269 | 1,326 |
| Operating Margin | 21.57% | -2.65% | 19.62% | 8.43% | 3.7% | 2.61% | 6.02% | 6.26% |
| Earnings before Tax (EBT) 1 | 312.1 | -193 | 3,803 | 1,796 | 597 | 398.9 | 1,043 | 1,085 |
| Net income 1 | 292.8 | -122 | 2,988 | 1,335 | 399 | 237.5 | 774.2 | 812.3 |
| Net margin | 14.71% | -2.28% | 14.62% | 5.81% | 1.81% | 1.13% | 3.67% | 3.84% |
| EPS 2 | 1.030 | -0.3200 | 5.360 | 2.550 | 0.7800 | 0.4573 | 1.525 | 1.750 |
| Free Cash Flow 1 | -93.5 | -786 | 2,080 | 1,480 | 1,621 | 547.5 | 667.8 | 376.5 |
| FCF margin | -4.7% | -14.68% | 10.17% | 6.44% | 7.37% | 2.6% | 3.17% | 1.78% |
| FCF Conversion (EBITDA) | - | - | 39.53% | 46.7% | 84.82% | 34.74% | 31.68% | 16.68% |
| FCF Conversion (Net income) | - | - | 69.61% | 110.86% | 406.27% | 230.51% | 86.26% | 46.35% |
| Dividend per Share 2 | 0.2700 | 0.0600 | - | - | - | - | - | - |
| Announcement Date | 2/20/20 | 2/25/21 | 2/11/22 | 2/13/23 | 1/29/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,346 | 5,955 | 6,337 | 5,653 | 5,044 | 5,295 | 5,984 | 5,605 | 5,112 | 5,199 | 5,276 | 5,301 | 5,266 | 5,194 | 5,268 |
| EBITDA 1 | 1,456 | 1,451 | 1,130 | 452 | 123 | 243 | 775 | 614 | 279 | 414 | 334 | 395.2 | 414.5 | 414.5 | 352 |
| EBIT 1 | 1,119 | 1,094 | 840 | 187 | -182 | -31 | 497.2 | 325 | 32 | 184 | 103.9 | 186.3 | 185.7 | - | - |
| Operating Margin | 20.93% | 18.37% | 13.26% | 3.31% | -3.61% | -0.59% | 8.31% | 5.8% | 0.63% | 3.54% | 1.97% | 3.51% | 3.53% | - | - |
| Earnings before Tax (EBT) 1 | 1,112 | 1,050 | 757 | 175 | -186 | -56 | 458 | 303 | -108 | -61 | 85.37 | 157.1 | 165.8 | - | - |
| Net income 1 | 893 | 801 | 596 | 152 | -214 | -57 | 347 | 264 | -155 | -67 | 55.43 | 103.7 | 103.3 | - | - |
| Net margin | 16.7% | 13.45% | 9.41% | 2.69% | -4.24% | -1.08% | 5.8% | 4.71% | -3.03% | -1.29% | 1.05% | 1.96% | 1.96% | - | - |
| EPS 2 | 1.690 | 1.500 | 1.130 | 0.2900 | -0.4100 | -0.1100 | 0.6700 | 0.5200 | -0.3100 | -0.1400 | 0.1140 | 0.2031 | 0.1735 | 0.2550 | 0.3500 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/11/22 | 4/22/22 | 7/22/22 | 10/25/22 | 2/13/23 | 4/24/23 | 7/24/23 | 10/23/23 | 1/29/24 | 4/22/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,761 | 5,278 | 5,190 | 4,419 | 2,939 | 3,424 | 3,018 | 2,780 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.356 x | 14.95 x | 0.9863 x | 1.394 x | 1.538 x | 2.173 x | 1.431 x | 1.232 x |
| Free Cash Flow 1 | -93.5 | -786 | 2,080 | 1,480 | 1,621 | 548 | 668 | 377 |
| ROE (net income / shareholders' equity) | 74.9% | -7.1% | 72.8% | 20.1% | 6.74% | 4.56% | 9.67% | 8.87% |
| ROA (Net income/ Total Assets) | 8.33% | - | 18% | - | 3% | 2.11% | 4.47% | - |
| Assets 1 | 3,517 | - | 16,565 | - | 13,285 | 11,273 | 17,304 | - |
| Book Value Per Share 2 | 1.330 | 4.230 | 11.00 | 15.20 | 15.60 | 15.60 | 16.80 | 18.90 |
| Cash Flow per Share 2 | 1.850 | 0.3400 | 5.000 | 4.620 | 3.080 | 2.250 | 3.580 | 2.950 |
| Capex 1 | 656 | 525 | 705 | 943 | 646 | 702 | 977 | 1,204 |
| Capex / Sales | 32.97% | 9.81% | 3.45% | 4.1% | 2.94% | 3.33% | 4.64% | 5.69% |
| Announcement Date | 2/20/20 | 2/25/21 | 2/11/22 | 2/13/23 | 1/29/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
10
Last Close Price
15.8
USD
Average target price
19.44
USD
Spread / Average Target
+23.02%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -22.89% | 7.51B | |
| -8.67% | 38.6B | |
| +29.18% | 26.75B | |
| -22.62% | 21.28B | |
| -9.52% | 20.72B | |
| +5.42% | 19.82B | |
| +4.98% | 19.72B | |
| +6.74% | 9.28B | |
| -21.25% | 8.6B | |
| -.--% | 7.73B |
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