What is Cleveland-Cliffs's EV / EBITDA?

Cleveland-Cliffs (CLF) reported EV / EBITDA of 45.7× in Q2 2026.

What is the long-term trend for Cleveland-Cliffs's EV / EBITDA?

Over 2 years (2021 to 2024), Cleveland-Cliffs's EV / EBITDA has grown at a 334.7% compound annual growth rate (CAGR), from 3.4× to 64×.

What does EV / EBITDA mean?

Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.

Cleveland-Cliffs (CLF) EV / EBITDA

Screener

EV / EBITDA at other companies

NucorNUE

7.9×-0.1×

Steel DynamicsSTLD

13.7×+1.3×

Suncoke EnergySXC

11.2×+7.1×

MetallusMTUS

4.8×-0.2×

RelianceRS

13.8×-0.1×

Worthington SteelWS

10.7×+3.7×

Other financials

Income statement

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Revenue$5.2B+5.9%

Gross profit$132.0M+162%

Operating income-$49.0M+90.2%

Net income-$134.0M+71.7%

EPS (diluted)-$0.25+74.5%

Balance sheet

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Cash & equivalents$70.0M+14.8%

Total debt$7.7B-0.3%

Total equity$5.6B-3.7%

Total assets$20.1B-1.7%

Cash flow

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Operating cash flow-$325.0M+7.4%

CapEx$157.0M+40.2%

Free cash flow-$477.0M+5.2%

Valuation

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Market cap$6.98B+50.5%

Enterprise value$14.61B+18.8%

P/S0.4×+0.1×

Profitability

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Gross margin-1.1%—

Operating margin-4.2%-1.5pp

Net margin-4.3%-1.5pp

FCF margin-5.3%-0.3pp

Returns & leverage

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Return on equity-14.6%-4.3pp

Debt / equity1.4×0.0×

Current ratio1.9×-0.2×

Where this comes from

Calculated from Cleveland-Cliffs’s reported figures.

enterprise value/ebitda=45.7×

Based on the most recent quarter.

The source filing: Cleveland-Cliffs’s 10-Q, filed July 23, 2026. Open the filing →

Filed: Jul 23, 2026, 4:08 PM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0000764065-26-000100

FAQ

What is Cleveland-Cliffs's EV / EBITDA?: Cleveland-Cliffs (CLF) reported EV / EBITDA of 45.7× in Q2 2026.
What is the long-term trend for Cleveland-Cliffs's EV / EBITDA?: Over 2 years (2021 to 2024), Cleveland-Cliffs's EV / EBITDA has grown at a 334.7% compound annual growth rate (CAGR), from 3.4× to 64×.
What does EV / EBITDA mean?: Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.

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Cleveland-Cliffs CLF EV / EBITDA

EV / EBITDA at other companies

Other financials

Income statement

Balance sheet

Cash flow

Valuation

Profitability

Returns & leverage

Where this comes from

FAQ

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