Sifting through countless of stocks in the Metals & Mining industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in Cleveland-Cliffs Inc. or ArcelorMittal S.A. because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how Cleveland-Cliffs Inc. and ArcelorMittal S.A. compare based on key financial metrics to determine which better meets your investment needs.

About Cleveland-Cliffs Inc. and ArcelorMittal S.A.

Cleveland-Cliffs Inc. operates as a steel producer in the United States and Canada. It offers hot-rolled, cold-rolled, and coated products, such as aluminized, electrogalvanized, and galvalume products, as well as galvanneal and hot-dipped galvanized products; stainless and electrical products, including GOES, NOES, and auto chrome; plate products; and slab and other steel products. The company also provides non- steelmaking products comprising stamped components, tool and die, and tubing; and scrap, iron ore, HBI, coal, and coke products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing products. In addition, the company is involved in the mining of iron ore; production of pellets and direct reduced iron; and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. It serves direct automotive, infrastructure and manufacturing, distributors and converters, and steel producers. The company was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. Cleveland-Cliffs Inc. was founded in 1847 and is headquartered in Cleveland, Ohio.

ArcelorMittal S.A., together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes. The company also provides mining products, such as iron ore lumps, fines, concentrate, pellets, and sinter feeds; and coking coal. It sells its products to various customers in the automotive, appliance, engineering, construction, energy, and machinery industries through a centralized marketing organization, and distributors. The company operates iron ore mining activities in Brazil, Bosnia, Liberia, Mexico, South Africa, and Ukraine, as well as in India and in Canada. ArcelorMittal S.A. was founded in 1976 and is headquartered in Luxembourg, Luxembourg.

Latest Metals & Mining and Cleveland-Cliffs Inc., ArcelorMittal S.A. Stock News

As of September 11, 2026, Cleveland-Cliffs Inc. had a $6.9 billion market capitalization, compared to the Metals & Mining median of $1.7 million. Cleveland-Cliffs Inc.’s stock is down 10.9% in 2026, down 5.4% in the previous five trading days and up 6.07% in the past year.

Currently, Cleveland-Cliffs Inc. does not have a price-earnings ratio. Cleveland-Cliffs Inc.’s trailing 12-month revenue is $19.2 billion with a -4.6% net profit margin. Year-over-year quarterly sales growth most recently was 5.9%. Analysts expect adjusted earnings to reach $-0.166 per share for the current fiscal year. Cleveland-Cliffs Inc. does not currently pay a dividend.

As of September 11, 2026, ArcelorMittal S.A. had a $56.3 billion market cap, putting it in the 94th percentile of all stocks. ArcelorMittal S.A.’s stock is up 58.8% in 2026, down 8.1% in the previous five trading days and up 116.66% in the past year.

Currently, ArcelorMittal S.A.’s price-earnings ratio is 31.4. ArcelorMittal S.A.’s trailing 12-month revenue is $62.8 billion with a 2.9% net profit margin. Year-over-year quarterly sales growth most recently was 13.3%. Analysts expect adjusted earnings to reach $4.353 per share for the current fiscal year. ArcelorMittal S.A. currently has a 0.8% dividend yield.

How We Compare Cleveland-Cliffs Inc. and ArcelorMittal S.A. Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at Cleveland-Cliffs Inc. and ArcelorMittal S.A.’s stock grades to see how they measure up against one another.

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Cleveland-Cliffs Inc. and ArcelorMittal S.A. Stock Value Grades

Company	Ticker	Value
Cleveland-Cliffs Inc.	CLF	C
ArcelorMittal S.A.	MT	B

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection.

Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Value Grade derives from a stock’s value score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are a good value and so on.

Cleveland-Cliffs Inc. has a Value Score of 43, which is Average. ArcelorMittal S.A. has a Value Score of 72, which is Value.

The Value Stock Winner: ArcelorMittal S.A.

As you can clearly see from the Value Grade breakdown above, ArcelorMittal S.A. is considered to have better value than Cleveland-Cliffs Inc.. For investors who focus solely on a company’s valuation, ArcelorMittal S.A. could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Cleveland-Cliffs Inc. and ArcelorMittal S.A.’s Momentum Grades

Company	Ticker	Momentum
Cleveland-Cliffs Inc.	CLF	C
ArcelorMittal S.A.	MT	A

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

Cleveland-Cliffs Inc. has a Momentum Score of 46, which is Average. ArcelorMittal S.A. has a Momentum Score of 88, which is Very Strong.

The Momentum Grade Winner: ArcelorMittal S.A.

As you can clearly see from the Momentum Grade breakdown above, ArcelorMittal S.A. is considered to have stronger momentum compared to Cleveland-Cliffs Inc.. For those specifically looking for companies that have stronger momentum compared to other companies in the same industry, ArcelorMittal S.A. could be a good stock to invest in. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Cleveland-Cliffs Inc. and ArcelorMittal S.A.’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
Cleveland-Cliffs Inc.	CLF	B
ArcelorMittal S.A.	MT	D

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

Cleveland-Cliffs Inc. has a Earnings Estimate Score of 65, which is Positive. ArcelorMittal S.A. has a Earnings Estimate Score of 22, which is Negative.

The Earnings Estimate Revisions Grade Winner: Cleveland-Cliffs Inc.

As you can clearly see from the Earnings Estimate Revisions Grade breakdown above, Cleveland-Cliffs Inc. has a better Earnings Estimate Revisions Grade than ArcelorMittal S.A.. For those who are specifically looking for companies with better short-term prospects when compared to other companies in the same industry, Cleveland-Cliffs Inc. could be a good stock to invest in. However, it’s important to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Other Cleveland-Cliffs Inc. and ArcelorMittal S.A. Grades

In addition to Estimate Revisions, Momentum and Value, A+ Investor also provides grades for Growth and Quality.

Growth investing builds on the idea that stocks of companies exhibiting strong, consistent and prolonged growth outperform those of slower-growth companies. AAII measures growth through consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations.

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether Cleveland-Cliffs Inc. and ArcelorMittal S.A. pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Cleveland-Cliffs Inc. or ArcelorMittal S.A. Stock?

Overall, Cleveland-Cliffs Inc. stock has a Value Score of 43, Momentum Score of 46 and Estimate Revisions Score of 65.

ArcelorMittal S.A. stock has a Value Score of 72, Momentum Score of 88 and Estimate Revisions Score of 22.

Comparing Cleveland-Cliffs Inc. and ArcelorMittal S.A.’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.