Cleveland-Cliffs (CLF)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from CLF's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Cleveland-Cliffs's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $20.4B | $23.0B | $22.0B | $19.2B | $18.6B |
| Net income | $3.0B | $1.3B | $385M | -$760M | -$1.5B |
| Free cash flow | $2.1B | $1.5B | $1.6B | -$590M | -$1.0B |
| EPS (diluted) | $5.36 | $2.55 | $0.75 | -$1.58 | -$2.91 |
| Operating margin | 19.6% | 8.4% | 3.0% | -4.0% | -8.5% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own CLF
From each investor's latest 13F filing (what a 13F shows). 6 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Prem Watsa Fairfax Financial Holdings |
Held | $140M | 5.3% | Q2 2026 |
| Stanley Druckenmiller Duquesne Family Office |
Added | $40M | 0.76% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
Trimmed | $15M | 1.0% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $11M | 0.03% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $4M | 0.00% | Q2 2026 |
| Jay Petschek Corsair Capital Management |
New position | $93,900 | 0.01% | Q2 2026 |
Insider buying
Open-market purchases by Cleveland-Cliffs's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Feb 13, 2026 | Edilson Camara |
19,700 | $10.13 | $199,561 |
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In the full deep dive
Questions
Are Cleveland-Cliffs insiders buying the stock?
1 open-market insider purchase of CLF in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Cleveland-Cliffs?
6 of the superinvestors Investingly tracks hold CLF in their latest 13F, including Prem Watsa, Stanley Druckenmiller, Eric Marshall.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.