Cleveland-Cliffs EV/EBIT CLF

Enterprise value divided by operating profit over the last twelve months, one-off items taken out, since 2011.

Today, Oct 23, 2026: n/m; an operating loss
Last meaningful: 17.0×; Nov 2024
10-year median: 10.4×
10-year range: 2.5× to 85.3×
Peer median: 16.0×

Cleveland-Cliffs has no meaningful EV/EBIT today: it made an operating loss of $797M over the last twelve months.

It was last meaningful in Nov 2024, at 17.0×.

On the days it had one over the last ten years, its median was 10.4×, from 2.5× in Sep 2022 to 85.3× in Jun 2021.

EV/EBIT over time

median 10.4×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2024	17.0×	11.1×	22.0×
2023	22.1×	4.4×	26.3×
2022	4.0×	2.5×	5.7×
2021	5.4×	5.1×	85.3×
2020	16.7×	6.0×	17.5×
2019	7.7×	5.9×	7.9×
2018	6.2×	6.1×	13.5×
2017	9.4×	8.4×	32.6×
2016	31.2×	4.1×	49.9×
2015	4.2×	2.1×	4.5×
2014	3.2×	3.2×	7.7×
2013	4.8×	4.0×	10.2×
2012	9.9×	5.5×	10.0×
2011	5.3×	5.1×	9.3×

Against its peers

Companies in Basic Materials nearest Cleveland-Cliffs' size, closest first, today.

Company	EV/EBIT
CLFCleveland-Cliffs	n/m
NEUNewmarket	16.0×
ESIElement Solutions	25.4×
CTVACorteva	6.4×
EMNEastman Chemical	20.7×
AXTAAxalta Coating Systems	14.4×
HLHecla Mining	13.2×
AAAlcoa	n/m
HXLHexcel	30.4×
CLXClorox	17.5×
SSRMSSR Mining	5.1×
Peer median	16.0×

What the EV/EBIT tells you

What the whole business costs against its operating profit. Enterprise value is the market value plus borrowings and minority interests, less cash. EBIT is operating profit before interest and tax, with one-offs taken out. Unlike PE it is not moved by how a company is financed.

Leases are left out of debt for every company. Banks earn on their balance sheet, so EV/EBIT does not describe them.

More on Cleveland-Cliffs

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.