Net margin is calculated as Net Income divided by its Revenue. Cleveland-Cliffs's Net Income for the
three
months ended in Mar. 2026 was MXN-4,274 Mil. Cleveland-Cliffs's Revenue for the
three
months ended in Mar. 2026 was MXN88,757 Mil. Therefore, Cleveland-Cliffs's net margin for the quarter that ended in Mar. 2026 was -4.82%.
The historical rank and industry rank for Cleveland-Cliffs's Net Margin % or its related term are showing as below:
MEX:CLF'
s Net Margin % Range Over the Past 10 Years
Min: -7.94 Med: 8.51 Max: 48.37
Current: -6.42
MEX:CLF's Net Margin % is ranked worse than 86.18% of 615
companies
in the Steel industry
Industry Median: 1.86
vs MEX:CLF: -6.42
Cleveland-Cliffs (MEX:CLF) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Cleveland-Cliffs Net Margin % Related Terms
Cleveland-Cliffs Net Margin % Historical Data
* Premium members only.
The historical data trend for Cleveland-Cliffs's Net Margin % 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 Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, Cleveland-Cliffs's Net Margin % distribution charts can be found below:
* The bar in red indicates where Cleveland-Cliffs's Net Margin % 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 Net Margin % of -4.82% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Cleveland-Cliffs and its competitors. According to the industry distribution chart, Cleveland-Cliffs ranks #530 out of 615 companies in the Steel industry, placing it in the top 86.2%.
Is Cleveland-Cliffs' Net Margin % too high?
Cleveland-Cliffs' current Net Margin % is -4.82%. Based on the distribution chart, Cleveland-Cliffs ranks #530 out of 615 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Cleveland-Cliffs has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Cleveland-Cliffs' Net Margin % compare to TX and WS?
According to the Steel industry distribution chart, Cleveland-Cliffs ranks #530 out of 615 companies for Net Margin %. This places Cleveland-Cliffs in the lower half of its industry. The industry median Net Margin % is 1.86. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for a Steel company?
The median Net Margin % among Steel companies is 1.86, based on 615 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Cleveland-Cliffs and its competitors. For the Steel industry, the median Net Margin % is 1.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cleveland-Cliffs's current Net Margin % is -4.82%. 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 Fairly Valued. The stock's GF Value™ is MXN208.19, compared to a current price of MXN188.88 — trading 9.3% below its estimated fair value. The current Net Margin % is -4.82%. Cleveland-Cliffs' overall GF Score™ is 63/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Cleveland-Cliffs (MEX:CLF), the current Net Margin % is -4.82% 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 MXN188.88 is trading 9.3% below its estimated GF Value™ of MXN208.19.
GuruFocus considers Cleveland-Cliffs to be Fairly Valued.
Key valuation signals for MEX:CLF:
Net Margin %: -4.82%
GF Value™: MXN208.19 vs. price of MXN188.88 (9.3% below fair value)
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.
63GF Score
Get the complete analysis for MEX:CLF
Net Margin % 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 
