A company still losing money with growing sales, with elevated risk. Insiders and institutions are both adding.
Going well
Sales up 19% in the latest quarter vs a year ago
Sales growth speeding up
Buying back shares: share count down 3.1% in 3 years
Watch out for
About 1 month of cash left at its current burn
Losing money
Debt above equity: 1.19x
Money moves
An insider bought $100K of shares with their own money in the last 30 days
Institutions added 2.7% to their holdings in the quarter ending June 2026 (272 bought, 260 sold)
Held by Ray Dalio (Bridgewater), Stanley Druckenmiller (Duquesne)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$13.37-3.8% that day
Latest insider buy: A director bought at $13.49 on Oct 22. The stock is now $13.37, -0.9% since.
Company value
$7.6B
Share price times all shares
Price vs sales
0.38x
No profit over the last year, so this compares value with sales instead
Cash vs value
1%
Cash as a share of company value
Debt vs value
95%
Debt as a share of company value
From CLF's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Sep '26
$5.6B+19% vs a year earlier
Dec '23Tap a barSep '26
Last 12 months: $20.1B, up 7.8% from the 12 months before. Over 5 years, sales grew about 28% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of CLF. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$29.5B
Profit in 5 years$2.9B
Price these guesses point to$81.53+510% vs $13.37 todayAbout +44% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales could shrink about 25% a year for 5 years and still match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/6Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-23.2%
MissDebt under half of equityNot relying on borrowed money.1.19x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-7.9%
MissProfitable every yearSteady profits, not one good year.7 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$1.0B
PassShare count not growingNot diluting owners. Falling means buybacks.-3.1% in 3 years
Revenue
$18.6B
-3.0% vs prior year
5-year growth
+28.3%/yr
revenue, per year
Total debt
$7.3B
1.19x equity
Current ratio
1.95x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Sep 30, 2026
Reported Oct 19Before open6:52 am ET
Revenue
$5.6B
+18.5% YoY
EPS
$0.26
vs -$0.51
Op. margin
5.5%
+9.8 pts
Gross margin
8.3%
+9.3 pts
Free cash flow
$72.0M
Share count
+16.0%
vs a year ago
Insider rating
Last 90 days
67Buying
1 insider bought $100K
Edilson Camara grew their stake 12.9%
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
59/ 100
This week
1
Normal week
0.7
vs normal
1.4x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+2.7%
Institutions added 2.7% to their holdings. 272 bought, 260 sold. 7 quarters of net buying in a row.
Shares held by institutions481.1M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+4.2%
Cash runwayAt last year's cash burn
2 months
Debt to equityLatest balance sheet: debt compared with what owners have
1.3x · $7.6B debt
Shares outstandingLatest reported
571M
Why elevated risk
Losing money
About 2 months of cash left at its current burn
Debt above equity: 1.34x
Earnings reports
Last 12
Next reportAround Feb 8, 2027 (est.)Estimated from the same quarter last year
Results filedOct 19
Results filedJul 23
Results filedApr 20
Results filedFeb 9
Results filedOct 20, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days