Cleveland-Cliffs Inc. (CLF) P/E Ratio History
Historical price-to-earnings valuation from 1990 to 2024
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CLF Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Cleveland-Cliffs Inc. (CLF) trades at a price-to-earnings ratio of -3.7x, with a stock price of $11.15 and trailing twelve-month earnings per share of $-3.00.
The current P/E is 116% below its 5-year average of 23.8x. Over the past five years, CLF's P/E has ranged from a low of 2.1x to a high of 207.4x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Basic Materials sector median P/E of 22.9x, CLF trades at a 116% discount to its sector peers. The sector includes 125 companies with P/E ratios ranging from 2.1x to 135.9x.
Relative to the broader market, CLF trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our CLF DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
CLF P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $53B | 31.1 | 1.19Best | -11% | |
| $35B | 30.3 | 1.20 | -19% | |
| $8B | 97.5 | - | -82% | |
| $19B | 26.9 | 1.36 | -10% | |
| $2B | 19.1 | - | -30% | |
| $48B | 15.4Lowest | - | +143% | |
| $107B | 252.8 | - | -83% | |
| $10B | 22.0 | - | +915%Best | |
| $10B | 35.3 | - | -68% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
CLF Historical P/E Data (1990–2024)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $15.39 | $0.07 | 207.4x | +705% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $22.74 | $0.75 | 30.3x | +18% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $20.42 | $0.78 | 26.2x | +2% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $15.63 | $0.69 | 22.7x | -12% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $16.76 | $0.46 | 36.4x | +41% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $18.33 | $0.91 | 20.1x | -22% |
| FY2022 Q4 | Sat Dec 31 2022 00:00:00 GM | $16.11 | $2.53 | 6.4x | -75% |
| FY2022 Q3 | Fri Sep 30 2022 00:00:00 GM | $13.47 | $4.62 | 2.9x | -89% |
| FY2022 Q2 | $15.37 | $6.66 | 2.3x | -91% | |
| FY2022 Q1 | $32.21 | $6.70 | 4.8x | -81% | |
| FY2021 Q4 | Fri Dec 31 2021 00:00:00 GM | $21.77 | $5.26 | 4.1x | -84% |
| FY2021 Q3 | $19.81 | $3.71 | 5.3x | -79% |
Average P/E for displayed period: 25.8x
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Start ComparisonCLF — Frequently Asked Questions
Quick answers to the most common questions about buying CLF stock.
Is CLF stock overvalued or undervalued?
CLF trades at -3.7x P/E, below its 5-year average of 23.8x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does CLF's valuation compare to peers?
Cleveland-Cliffs Inc. P/E of -3.7x compares to sector median of 22.9x. The discount suggests lower growth expectations or higher risk.
What is CLF's PEG ratio?
CLF PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1990-2024.