Company Valuation: Cleveland-Cliffs Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,887 8,302 10,309 4,643 8,562 5,276 - -
Change - -23.75% 24.19% -54.96% 84.4% -38.37% - -
Enterprise Value (EV) 1 16,077 12,721 13,248 11,654 15,758 12,626 12,083 11,349
Change - -20.88% 4.15% -12.03% 35.21% -19.87% -4.3% -6.07%
P/E 4.06x 6.32x 26.2x -5.99x -4.56x -28x 14.6x 12.3x
PBR 1.98x 1.06x 1.31x 0.7x 1.24x 0.89x 0.84x 0.77x
PEG - -0.1x -0.4x 0x -0.1x 0.3x -0x 0.6x
Capitalization / Revenue 0.53x 0.36x 0.47x 0.24x 0.46x 0.25x 0.24x 0.24x
EV / Revenue 0.79x 0.55x 0.6x 0.61x 0.85x 0.6x 0.56x 0.52x
EV / EBITDA 3.06x 4.01x 6.93x 14.9x 426x 8.82x 5.78x 5.49x
EV / EBIT 4.01x 6.56x 16.3x -15.4x -9.98x 78.9x 13.1x 11.6x
EV / FCF 7.73x 8.59x 8.17x -19.8x -15.4x -34x 19.6x 16.1x
FCF Yield 12.9% 11.6% 12.2% -5.06% -6.49% -2.94% 5.11% 6.2%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 5.36 2.55 0.78 -1.57 -2.91 -0.3307 0.6326 0.7525
Distribution rate - - - - - - - -
Net sales 1 20,444 22,989 21,996 19,185 18,610 20,931 21,632 21,801
EBITDA 1 5,262 3,169 1,911 780 37 1,431 2,090 2,067
EBIT 1 4,012 1,939 814 -756 -1,579 160.1 925.6 979.3
Net income 1 2,988 1,335 399 -754 -1,478 -187.9 451 398.9
Net Debt 1 5,190 4,419 2,939 7,011 7,196 7,350 6,806 6,073
Reference price 2 21.770 16.110 20.420 9.400 13.280 9.250 9.250 9.250
Nbr of stocks (in thousands) 500,091 515,302 504,861 493,944 644,707 570,415 - -
Announcement Date 11/02/22 13/02/23 29/01/24 24/02/25 09/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.71x1.46x8.04x0.96% 53.11B
14.44x0.87x7.04x0.95% 50.24B
14.12x1.56x9.25x0.91% 33.68B
56.38x9.42x34.76x0.14% 29.26B
12.57x1.19x7.03x2.25% 24.27B
10.82x0.69x6.42x4.03% 19.2B
12.87x0.53x5.14x3.23% 15.39B
15.32x4.48x11.08x0.06% 11.31B
13.52x0.88x6.64x2.88% 10.13B
Average 18.19x 2.34x 10.60x 1.71% 27.4B
Weighted average by Cap. 18.66x 2.27x 10.85x 1.4%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  5. Valuation Cleveland-Cliffs Inc.