What is Cleveland-Cliffs's price / book?

Cleveland-Cliffs (CLF) reported price / book of 0.8× in Q1 2026.

How has Cleveland-Cliffs's price / book changed year-over-year?

Cleveland-Cliffs's price / book increased by 27.4% year-over-year, from 0.6× to 0.8×.

What is the long-term trend for Cleveland-Cliffs's price / book?

Over 5 years (2020 to 2025), Cleveland-Cliffs's price / book has grown at a -19.3% compound annual growth rate (CAGR), from 3.6× to 1.2×.

What does price / book mean?

Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.

Cleveland-Cliffs CLF Price / book

Price / book at other companies

Commercial MetalsCMC

1.8×+0.5×

NucorNUE

1.8×+0.4×

Steel DynamicsSTLD

2.8×+0.7×

RelianceRS

2.2×+0.1×

AlcoaAA

1.9×+0.5×

Eagle MaterialsEXP

4×-1.0×

Other financials

Income statement

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Revenue$4.9B+6.3%

Gross profit-$82.0M+79.3%

Operating income-$213.0M+60.8%

Net income-$229.0M+52.9%

EPS (diluted)-$0.42+58.4%

Balance sheet

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Cash & equivalents$45.0M-21.1%

Total debt$7.8B+2.1%

Total equity$5.8B-6.9%

Total assets$20.1B-3.5%

Cash flow

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Operating cash flow-$325.0M+7.4%

CapEx$152.0M0.0%

Free cash flow-$477.0M+5.2%

Valuation

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Market cap$7B+18.6%

Enterprise value$14.72B+8.0%

P/S0.4×+0.1×

Profitability

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Gross margin-2.9%—

Operating margin-6.6%-0.2pp

Net margin-6.2%0.0pp

FCF margin-5.3%-0.3pp

Returns & leverage

See full

Return on equity-19.3%+3.1pp

Debt / equity1.3×+0.1×

Current ratio2×-0.1×

Where this comes from

Calculated from Cleveland-Cliffs’s reported figures.

market cap/total stockholders equity=0.8×

Based on the most recent quarter.

The official record: Cleveland-Cliffs’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cleveland-Cliffs's price / book?: Cleveland-Cliffs (CLF) reported price / book of 0.8× in Q1 2026.
How has Cleveland-Cliffs's price / book changed year-over-year?: Cleveland-Cliffs's price / book increased by 27.4% year-over-year, from 0.6× to 0.8×.
What is the long-term trend for Cleveland-Cliffs's price / book?: Over 5 years (2020 to 2025), Cleveland-Cliffs's price / book has grown at a -19.3% compound annual growth rate (CAGR), from 3.6× to 1.2×.
What does price / book mean?: Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.