CLF NYSE
Cleveland-Cliffs Inc.
1W: -5.1%
1M: +9.8%
3M: +11.7%
YTD: -1.6%
1Y: +2.5%
3Y: -8.0%
5Y: -37.4%
$13.90
+0.52 (+3.89%)
Weekly Expected Move ±12.3%
$10
$12
$14
$16
$17
Credit Risk of going bust: higher than 84% of companies Debt: 50.0% of company value Bonds: $862.2M held by 447 funds, 245 bp over Treasuries → details ▾
Of US companies ranked in the second-riskiest tenth, about 1 in 87 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.32 (down 90%), Cleveland-Cliffs Inc. would be worth roughly what it owes.
Total debt $7.64B against a stock market value of $7.63B.
Distance to default 2.27 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $3.82B (short-term plus half of long-term), stock volatility 66.6%; Altman Z 1.44. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $1.32 (down 90%), Cleveland-Cliffs Inc. would be worth roughly what it owes.
Total debt $7.64B against a stock market value of $7.63B.
Distance to default 2.27 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $3.82B (short-term plus half of long-term), stock volatility 66.6%; Altman Z 1.44. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Balance Sheet Trends
Total Assets
$20.0B
-4.5% ▼
5Y CAGR: +3.6%
Total Liabilities
$13.7B
-2.6% ▼
5Y CAGR: -0.0%
Shareholders Equity
$6.1B
-8.2% ▼
5Y CAGR: +17.3%
Cash & Investments
$57M
+5.6% ▲
5Y CAGR: -12.6%
Total Debt
$8.2B
+5.1% ▲
5Y CAGR: +6.4%
Net Debt
$8.1B
+5.1% ▲
Assets vs Liabilities & Equity
Year-over-Year Growth
View Full Balance Sheet
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Assets — | |||||
| Cash | $48M | $26M | $198M | $54M | $57M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Cash & ST Investments | $48M | $26M | $198M | $54M | $57M |
| Net Receivables | $2.2B | $2.0B | $1.8B | $1.6B | $1.4B |
| Inventory | $5.2B | $5.1B | $4.5B | $5.1B | $4.8B |
| Other Current Assets | $263M | $306M | $138M | $183M | $164M |
| Total Current Assets | $7.7B | $7.4B | $6.6B | $6.9B | $6.4B |
| Property, Plant & Equip. | $9.2B | $9.1B | $8.9B | $9.9B | $9.5B |
| Goodwill & Intangibles | $1.3B | $1.3B | $1.2B | $2.9B | $2.9B |
| Long-Term Investments | $128M | $163M | $124M | $140M | $142M |
| Other Non-Current Assets | $671M | $756M | $676M | $1.0B | $1.0B |
| Total Non-Current Assets | $11.3B | $11.3B | $10.9B | $14.0B | $13.6B |
| Total Assets | $19.0B | $18.8B | $17.5B | $20.9B | $20.0B |
| — Liabilities — | |||||
| Accounts Payable | $2.1B | $2.2B | $2.1B | $2.0B | $1.9B |
| Short-Term Debt | $147M | $136M | $90M | $113M | $115M |
| Deferred Revenue | $25M | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $731M | $798M | $808M | $754M | $777M |
| Total Current Liabilities | $3.6B | $3.5B | $3.5B | $3.3B | $3.3B |
| Long-Term Debt | $5.2B | $4.2B | $3.1B | $7.1B | $7.5B |
| Other Non-Current Liab. | $4.0B | $2.0B | $1.8B | $2.2B | $2.0B |
| Total Non-Current Liabilities | $9.6B | $7.2B | $5.9B | $10.7B | $10.4B |
| Total Liabilities | $13.2B | $10.7B | $9.4B | $14.1B | $13.7B |
| — Equity — | |||||
| Common Stock | $63M | $66M | $66M | $66M | $76M |
| Retained Earnings | -$1M | $1.3B | $1.7B | $979M | -$529M |
| Accumulated OCI | $618M | $1.8B | $1.7B | $1.5B | $1.5B |
| Total Stockholders Equity | $5.5B | $7.8B | $7.9B | $6.7B | $6.1B |
| Total Liabilities & Equity | $19.0B | $18.8B | $17.5B | $20.9B | $20.0B |
| — Key Metrics — | |||||
| Total Debt | $5.8B | $4.7B | $3.6B | $7.8B | $8.2B |
| Net Debt | $5.8B | $4.7B | $3.4B | $7.7B | $8.1B |
| Total Investments | $128M | $163M | $124M | $140M | $142M |