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Cleveland-CliffsMEX:CLF -4.23%61 Debt-to-Equity is 1.33 as of Mar. 2026, which is 80% above its 10-year median of 0.74. GuruFocus rates MEX:CLF with a GF Score™ of 61/100 and a GF Value™ of MXN206.65 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 547 Steel companies, Cleveland-Cliffs ranks worse than 87.93% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Cleveland-Cliffs's Debt-to-Equity or its related term are showing as below:
MEX:CLF'
s Debt-to-Equity Range Over the Past 10 Years
Min: -26.68 Med: 0.74 Max: 7.98
Current: 1.33
During the past 13 years, the highest Debt-to-Equity Ratio of Cleveland-Cliffs was 7.98. The lowest was -26.68. And the median was 0.74.
MEX:CLF's Debt-to-Equity is ranked worse than 87.93% of 547
companies
in the Steel industry
Industry Median: 0.4
vs MEX:CLF: 1.33
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Cleveland-Cliffs Debt-to-Equity Related Terms
Cleveland-Cliffs Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Cleveland-Cliffs's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:CLF vs TX, WS, NWPX: Debt-to-Equity Comparison
For the Steel subindustry, Cleveland-Cliffs's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cleveland-Cliffs Debt-to-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, Cleveland-Cliffs's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Cleveland-Cliffs's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Cleveland-Cliffs (MEX:CLF) has a Debt-to-Equity of 1.33 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Cleveland-Cliffs and its competitors. This is 80% above median its historical median of 0.74. According to the industry distribution chart, Cleveland-Cliffs ranks #481 out of 547 companies in the Steel industry, placing it in the top 87.9%.
Is Cleveland-Cliffs' Debt-to-Equity too high?
Cleveland-Cliffs' current Debt-to-Equity of 1.33 is 80% above median its 10-year median of 0.74. The Steel industry median Debt-to-Equity is 0.40. Cleveland-Cliffs' value of 1.33 is 232.5% above this industry median. Based on the distribution chart, Cleveland-Cliffs ranks #481 out of 547 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Cleveland-Cliffs has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cleveland-Cliffs' Debt-to-Equity compare to TX and WS?
According to the Steel industry distribution chart, Cleveland-Cliffs ranks #481 out of 547 companies for Debt-to-Equity. This places Cleveland-Cliffs in the lower half of its industry. The industry median Debt-to-Equity is 0.40. Cleveland-Cliffs' value of 1.33 is 232.5% above this benchmark. While the company's 10-year median is 0.74 vs. the industry median of 0.40, Cleveland-Cliffs has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Steel company?
The median Debt-to-Equity among Steel companies is 0.40, based on 547 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cleveland-Cliffs's current Debt-to-Equity of 1.33 is 232.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Cleveland-Cliffs and its competitors. For the Steel industry, the median Debt-to-Equity is 0.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cleveland-Cliffs's current Debt-to-Equity is 1.33, which is 80% above median its own 10-year median of 0.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cleveland-Cliffs stock overvalued right now?
Based on GuruFocus' analysis, Cleveland-Cliffs (MEX:CLF) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN206.65, compared to a current price of MXN162.58 — trading 21.3% below its estimated fair value. The current Debt-to-Equity is 1.33, which is 80% above median its 10-year median of 0.74 and 232.5% above the Steel industry median of 0.40. Cleveland-Cliffs' overall GF Score™ is 61/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Cleveland-Cliffs (MEX:CLF), the current Debt-to-Equity is 1.33 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cleveland-Cliffs (MEX:CLF) Overvalued in 2026?
Based on GuruFocus' analysis, Cleveland-Cliffs stock appears to be undervalued.
The current stock price of MXN162.58 is trading 21.3% below its estimated GF Value™ of MXN206.65.
GuruFocus considers Cleveland-Cliffs to be Modestly Undervalued.
Key valuation signals for MEX:CLF:
Debt-to-Equity: 1.33 (80% above median its 10-year median of 0.74)
GF Value™: MXN206.65 vs. price of MXN162.58 (21.3% below fair value)
Industry Position: 232.5% above the Steel median (#481 of 547)
No single metric tells the full story. See the MEX:CLF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
61GF Score
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