CLF vs PKX: Cleveland-Cliffs and POSCO compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- POSCO is the larger company, worth $15.4B, about 2.4 times Cleveland-Cliffs.
- Cleveland-Cliffs grew revenue faster over the last year (+5.9% vs -4.7%).
- POSCO keeps more of each dollar of revenue as operating profit (2.0% vs -4.2%).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CLF | PKX |
|---|---|---|
| Market cap | $6.4B | $15.4B |
| Share price | $12.06 | $56.26 |
| Revenue (last fiscal year) | $18.6B | $73.46T |
| Free cash flow (last fiscal year) | -$1.0B | -$1.50T |
| Revenue growth, last year | +5.9% | -4.7% |
| Revenue growth per year, last 5 fiscal years | -2.3% | +6.3% |
| Operating margin | -4.2% | 2.0% |
| Net margin | -4.6% | 1.5% |
| Return on equity | -15.6% | 2.0% |
| P/E (trailing) | — | 33.4x |
| Price / free cash flow | — | — |
| EV / EBITDA | — | 7.44x |
| FCF growth the price implies | — | — |
| Dividend yield | — | 3.4% |
| Debt / equity | 2.55x | 0.76x |
| Fundamental grade | F | D |
| Superinvestors holding it | 6 | 2 |
| Insider purchases, last 12 months | 1 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Cleveland-Cliffs
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $20.4B | $2.1B | 19.6% |
| 2022 | $23.0B | $1.5B | 8.4% |
| 2023 | $22.0B | $1.6B | 3.0% |
| 2024 | $19.2B | -$590M | -4.0% |
| 2025 | $18.6B | -$1.0B | -8.5% |
POSCO
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2020 | $57.47T | $5.23T | 3.6% |
| 2021 | $76.01T | $2.76T | 11.5% |
| 2022 | $85.00T | $766.3B | 5.1% |
| 2023 | $77.06T | -$1.05T | 3.6% |
| 2024 | $73.46T | -$1.50T | 2.0% |
Where the revenue comes from
Cleveland-Cliffs · by segments, 2025
Steelmaking$18.1B96%
Other Businesses$657M4%
POSCO · by segments, 2025
Steel$37.28T54%
Trading$23.74T34%
Construction$5.51T8%
Rechargeable Battery Materials$2.10T3%
Logistics and Others$308.7B0%
Others$45.5B0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CLF in InvestinglyQuestions
Which is bigger, Cleveland-Cliffs or POSCO?
POSCO (PKX), at $15.4B against $6.4B.
Which grows faster, CLF or PKX?
Cleveland-Cliffs: revenue grew +5.9% over the last year, against -4.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.