Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Cleveland-CliffsMEX:CLF -4.23%61 EV-to-EBITDA is 91.70 as of Jul. 19, 2026, which is 1146% above its 10-year median of 7.36. GuruFocus rates MEX:CLF with a GF Score™ of 61/100 and a GF Value™ of MXN206.68 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 530 Steel companies, Cleveland-Cliffs ranks worse than 95.66% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Cleveland-Cliffs's enterprise value is MXN231,404 Mil.
Cleveland-Cliffs's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was MXN2,524 Mil. Therefore, Cleveland-Cliffs's EV-to-EBITDA for today is 91.70.
The historical rank and industry rank for Cleveland-Cliffs's EV-to-EBITDA or its related term are showing as below:
MEX:CLF'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -173.85 Med: 7.36 Max: 111.84
Current: 93.68
During the past 13 years, the highest EV-to-EBITDA of Cleveland-Cliffs was 111.84. The lowest was -173.85. And the median was 7.36.
MEX:CLF's EV-to-EBITDA is ranked worse than 95.66% of 530
companies
in the Steel industry
Industry Median: 9.855
vs MEX:CLF: 93.68
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Cleveland-Cliffs's PE Ratio (TTM) for today is calculated as:
Cleveland-Cliffs's share price for today is MXN162.58.
Cleveland-Cliffs's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN-43.288.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Cleveland-Cliffs's EV-to-EBITDA 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.
For the Steel subindustry, Cleveland-Cliffs's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs Steel Industry
For the Steel industry and Basic Materials sector, Cleveland-Cliffs's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Cleveland-Cliffs's EV-to-EBITDA falls into.
Cleveland-Cliffs's current Enterprise Value is MXN231,404 Mil.
Cleveland-Cliffs's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN2,524 Mil.
* 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 EV-to-EBITDA of 91.70 as of Jul. 19, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Cleveland-Cliffs. This is 1146% above median its historical median of 7.36. According to the industry distribution chart, Cleveland-Cliffs ranks #507 out of 530 companies in the Steel industry, placing it in the top 95.7%.
Is Cleveland-Cliffs' EV-to-EBITDA too high?
Cleveland-Cliffs' current EV-to-EBITDA of 91.70 is 1146% above median its 10-year median of 7.36. The Steel industry median EV-to-EBITDA is 9.86. Cleveland-Cliffs' value of 91.70 is 830.5% above this industry median. Based on the distribution chart, Cleveland-Cliffs ranks #507 out of 530 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' EV-to-EBITDA compare to TX and WS?
According to the Steel industry distribution chart, Cleveland-Cliffs ranks #507 out of 530 companies for EV-to-EBITDA. This places Cleveland-Cliffs in the lower half of its industry. The industry median EV-to-EBITDA is 9.86. Cleveland-Cliffs' value of 91.70 is 830.5% above this benchmark. While the company's 10-year median is 7.36 vs. the industry median of 9.86, 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 EV-to-EBITDA for a Steel company?
The median EV-to-EBITDA among Steel companies is 9.86, based on 530 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cleveland-Cliffs's current EV-to-EBITDA of 91.70 is 830.5% 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Cleveland-Cliffs. For the Steel industry, the median EV-to-EBITDA is 9.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cleveland-Cliffs's current EV-to-EBITDA is 91.70, which is 1146% above median its own 10-year median of 7.36. 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 MXN206.68, compared to a current price of MXN162.58 — trading 21.3% below its estimated fair value. The current EV-to-EBITDA is 91.70, which is 1146% above median its 10-year median of 7.36 and 830.5% above the Steel industry median of 9.86. 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 EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Cleveland-Cliffs (MEX:CLF), the current EV-to-EBITDA is 91.70 as of Jul. 19, 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 MXN206.68.
GuruFocus considers Cleveland-Cliffs to be Modestly Undervalued.
Key valuation signals for MEX:CLF:
EV-to-EBITDA: 91.70 (1146% above median its 10-year median of 7.36)
GF Value™: MXN206.68 vs. price of MXN162.58 (21.3% below fair value)
Industry Position: 830.5% above the Steel median (#507 of 530)
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
Get the complete analysis for MEX:CLF
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:CLF has been successfully added to your 
