The Discounted Cash Flow (DCF) valuation of Cleveland-Cliffs Inc (CLF) is (1.44) USD. With the latest stock price at 8.82 USD, the upside of Cleveland-Cliffs Inc based on DCF is -116.3%.

Is CLF a buy or a sell?

Based on the latest price of 8.82 USD and our DCF valuation, Cleveland-Cliffs Inc (CLF) is a sell. Selling CLF stocks now will result in a potential gain of 116.3%.

Note: valuation result may not be accurate due to the company's negative earnings.

	Range	Selected
WACC / Discount Rate	7.6% - 10.4%	9.0%
Long-term Growth Rate	1.0% - 3.0%	2.0%
Fair Price	(5.07) - 6.05	(1.44)
Upside	-157.5% - -31.5%	-116.3%

8.82 USD

Stock Price

(1.44) USD

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

CLF DCF Valuation: Revenue & Expenses Forecast

(USD in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	19,185	20,179	21,250	22,219	22,880	24,935
% Growth	13%	5%	5%	5%	3%	9%

Cost of goods sold	(19,115)	(19,703)	(20,334)	(20,836)	(21,027)	(22,457)
% of Revenue	100%	98%	96%	94%	92%	90%

Selling, G&A expenses	(462)	(486)	(512)	(535)	(551)	(600)
% of Revenue	2%	2%	2%	2%	2%	2%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(551)	(580)	(610)	(638)	(657)	(716)
% of Revenue	3%	3%	3%	3%	3%	3%

Tax expense	235	146	51	(52)	(160)	(288)
Tax rate	-25%	25%	25%	25%	25%	25%

Net profit	(708)	(444)	(155)	158	485	873
% Margin	-4%	-2%	-1%	1%	2%	4%