Quality
Return on equity
-24.2% Computed
From the FY2025 filing
ValueScreener company report
Cleveland-Cliffs Inc. (CLF)
NYSE / Basic Materials / Steel
Share price
12.15 USD Market dataClose of Oct 15, 2026Market capitalisation
6.93B USD Market dataClose of Oct 15, 2026- Market data
- Oct 15, 2026
- Filed accounts
- FY2025, filed Feb 9, 2026
- Ratios computed
- Oct 15, 2026
- Filed years
- 18, FY2007 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
- SEC filingFiled with the SEC
- Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
- Company statementCompany statement
- What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
- Market dataMarket data
- Prices, market value and what analysts publish, with the date they are as of.
- ComputedComputed by ValueScreener
- Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading
1 of 10
Overview
What the business is, what it costs, and how it reads on four questions.
Market dataSEC filingComputed
Four questions, at a glance
Financial strength
Current ratio
1.95 Computed
From the FY2025 filing
Valuation
Price to book
1.01x Computed
FY2025 accounts, priced at the latest close
Cash generation
Free cash flow yield
-16.6% Computed
FY2025 accounts, priced at the latest close
Revenue and net income, as filed
- Named tests met
- 0 of 30 Which tests
The business, and the score behind its five axes
The reading, in brief
- Is it good
Return on equity was -24.2% in FY2025, in the band labelled "Likely below the cost of equity" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on shareholders' money below the usual cost of equity.
Today, against the Basic Materials sector (247 companies), -24.2% sits at the 24th percentile; the middle half of that group runs from -20.2% to 11.8%.
- Is it safe
Current ratio was 1.95 in FY2025, in the band labelled "Adequate" (1.50 to 2.00), on lines anchored on Graham's defensive-investor criteria.
Today, against the Basic Materials sector (251 companies), 1.95 sits at the 41st percentile; the middle half of that group runs from 1.42 to 3.59.
- Year by year against peers
- Whether Cleveland-Cliffs Inc.'s return on equity stayed above the median of the Basic Materials sector, year by year. (FY2021 to FY2025, 5 fiscal years of Cleveland-Cliffs Inc. with a comparable figure)
- The direction
- Which way Cleveland-Cliffs Inc.'s gross margin has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Cleveland-Cliffs Inc.)
- What could explain it
- What in Cleveland-Cliffs Inc.'s filed statements could explain the movements. (5 readings drawn from the statement lines Cleveland-Cliffs Inc. filed)
- What to check next
- What to check next on Cleveland-Cliffs Inc., and where in its filings. (6 questions for Cleveland-Cliffs Inc.)
- In one paragraph
- One paragraph on Cleveland-Cliffs Inc.'s returns, cash, balance sheet and price. (8 of sixteen figures read for Cleveland-Cliffs Inc.)
These are CLF’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.
Research CLFPart of Serious. New accounts start with 30 days of Professional, free, no card.
2 of 10
What changed
The newest filing, what it moved, and when the next one is due.
SEC filingCompany statement
The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 9, 2026, accession 0000764065-26-000025.
3 of 10
Quality
The returns the business earns on its capital, and the margins behind them.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
Return on invested capital, after taxWhy n/aThe debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | n/a ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Return on equity | -24.2% ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Return on capital employed, pre-tax | -9.4% ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Return on assets | -7.4% ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Gross margin | -4.6% ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Operating margin | -8.5% ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Net margin | -7.9% ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
CLF -7.9%
-7.9%5.1%
4 of 10
Financial strength
What it owes against what it owns, and whether it can meet what falls due.
SEC filingComputedCompany statement
| Figure | Value, source and document |
|---|---|
Debt to equityWhy n/aThe debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | n/a ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Current ratio | 1.95 ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Quick ratio | 0.50 ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
Interest coverageWhy n/aNo interest expense is filed for this year, so coverage is not computed. | n/a ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Altman Z-score | 1.09 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
Net debtWhy n/aThe FY2025 balance sheet carries no net debt we could read. | n/a ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
The balance sheet, line by line
Financial health
What Cleveland-Cliffs Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 9, 2026, 0000764065-26-000025).
| Total assets | 20.01B FiledFY2025 10-K, filed Feb 9, 2026 |
|---|---|
| Total liabilities | 13.69B FiledFY2025 10-K, filed Feb 9, 2026 |
| Shareholders' equity | 6.12B FiledFY2025 10-K, filed Feb 9, 2026 |
| Cash | 57.0M FiledFY2025 10-K, filed Feb 9, 2026 |
| Total debt | n/a FiledFY2025 10-K, filed Feb 9, 2026 |
| Net debt | n/a |
| Current ratio | 1.95 |
| Debt to equity | n/a |
- Debt to equity: FY2025: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.
Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.
5 of 10
Valuation context
What the market charges for it, against its own record and companies like it.
Market dataSEC filingComputed
| Figure | Value, source and document |
|---|---|
Price to earningsWhy n/mEarnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one. | n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| P/E on trailing twelve months | 262.20x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings |
| Price to book | 1.01x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Price to sales | 0.33x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
Enterprise value to EBITWhy n/aThe debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
Enterprise value to EBITDAWhy n/mEBITDA is zero or negative, so a multiple of it is not meaningful. | n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
Price to earnings over growthWhy n/mEarnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one. | n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Diluted earnings per share | -2.91 USD FiledFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
Graham numberWhy n/mEarnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one. | n/m ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
We publish no fair value or price target of our own. Value CLF on your own assumptions in the DCF workbench, starting from the filed figures.
Its own record, and companies like it
Valuation
What the market charges for Cleveland-Cliffs Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.
| Share price | 12.15 USD |
|---|---|
| Market capitalisation | 6.93B USD |
| Enterprise value to EBITDA | n/m |
| Graham number | n/m |
| Diluted earnings per share, FY2025 | -2.91 USD |
Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 1.72x, median 7.06x, high 309.40x, latest 262.20x. 1,757 trading days with a meaningful ratio, 764 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.
Companies like Cleveland-Cliffs Inc
- Commercial Metals Company (CMC)Market cap 7.23B USD
- Gerdau S.A. (GGB)Market cap 9.94B USD
- Grupo Simec, S.A.B. de C.V. (SIM)Market cap 4.45B USD
Same industry (Steel) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.
6 of 10
Cash generation
Whether profit arrives as cash, and what is paid back to shareholders.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
| Free cash flow yield | -16.6% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Free cash flow | -1.02B USD ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Free cash flow margin | -5.5% ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
Dividend yieldWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
Payout ratioWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
7 of 10
Filings
Every figure, the year it is for and the document it was read from.
SEC filingMarket data
The filed figures
Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.
| Figure | Value | Year | As of |
|---|---|---|---|
| n/m | FY2025 | Oct 15, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itIncome statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| 1.01x | FY2025 | Oct 15, 2026 | |
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Oct 15, 2026 | |
| n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | |||
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itIncome statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tabForm10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| -16.6% | FY2025 | Oct 15, 2026 | |
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Feb 9, 2026 | |
| n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | |||
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itIncome statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tabForm10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Oct 15, 2026 | |
| n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one. | |||
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Feb 9, 2026 | |
| n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | |||
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| 1.95 | FY2025 | Feb 9, 2026 | |
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| 0.33x | FY2025 | Oct 15, 2026 | |
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itIncome statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Oct 15, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itIncome statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| 1.09 | FY2025 | Oct 15, 2026 | |
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itIncome statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tabForm10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| -3.57 | FY2025 | Feb 9, 2026 | |
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itIncome statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tabForm10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tabForm10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
| 2/9 | FY2025 | Feb 9, 2026 | |
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itIncome statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tabForm10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tabForm10-KFiledFeb 9, 2026PeriodFY2025Accession0000764065-26-000025What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000764065-26-000025, leaves this page and opens in a new tab | |||
The figures are computed from the accounts for fiscal 2025, the newest full year on file. 18 filed fiscal years on record, FY2007 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.
The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.
Ten years of filed figures, year by year
Ten years of filed figures
10 filed fiscal years, FY2016 to FY2025, read from the annual reports Cleveland-Cliffs Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.
| Year | Revenue | Operating income | Net income | EPS, diluted | Free cash flow | Operating margin | Return on equity | Filing |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 18.61B | -1.58B | -1.48B | -2.91 | -1.02B | -8.5% | -24.2% | 10-K, Feb 9, 20260000764065-26-000025 |
| FY2024 | 19.18B | -763.0M | -760.0M | -1.58 | -590.0M | -4.0% | -11.5% | 10-K, Feb 25, 20250000764065-25-000058 |
| FY2023 | 22.00B | 659.0M | 385.0M | 0.75 | 1.62B | 3.0% | 4.9% | 10-K, Feb 8, 20240000764065-24-000038 |
| FY2022 | 22.99B | 1.94B | 1.33B | 2.55 | 1.48B | 8.4% | 17.1% | 10-K, Feb 14, 20230000764065-23-000032 |
| FY2021 | 20.44B | 4.01B | 2.99B | 5.36 | 2.08B | 19.6% | 54.4% | 10-K, Feb 11, 20220000764065-22-000037 |
| FY2020 | 5.35B | -142.0M | -122.0M | -0.32 | -783.0M | -2.6% | -6.0% | 10-K, Feb 26, 20210000764065-21-000084 |
| FY2019 | 1.99B | 429.0M | 293.0M | 1.03 | -88.0M | 21.6% | 81.8% | 10-K, Feb 20, 20200000764065-20-000041 |
| FY2018 | 2.33B | 673.0M | 1.13B | 3.71 | 183.0M | 28.9% | 265.9% | 10-K, Feb 8, 20190000764065-19-000025 |
| FY2017 | 1.87B | 390.2M | 367.0M | 1.26 | 203.2M | 20.9% | n/m | 10-K, Feb 14, 20180000764065-18-000035 |
| FY2016 | 1.55B | 130.7M | 174.1M | 0.87 | 295.6M | 8.4% | n/m | 10-K, Feb 9, 20170000764065-17-000021 |
- Revenue, compound annual growth FY2016 to FY2025: 31.8%
- Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
- Earnings per share: Earnings per share was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
- Free cash flow: Free cash flow was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.
8 of 10
Risks and guardrails
The accounting screens, the published tests, and the lines you can set to be told.
ComputedCompany statement
| Figure | Value, source and document |
|---|---|
| Beneish M-score | -3.57 ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Piotroski F-score | 2/9 ComputedFY2025 10-K, filed Feb 9, 2026, 0000764065-26-000025 |
| Named tests met | 0 of 30 Computed |
| Beta | 2.11 ComputedClose of Oct 15, 2026 |
The named tests
Of 30 tests value investors published: 0 met, 23 not met, 7 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.
Which tests, by name(all 30)
- Meets
- None of the named tests.
- Does not
- Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman)
- Not measured
- Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); ROIC at or above WACC; P/E times P/B (Benjamin Graham); Cash-covered dividend; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(14)
- Debt to Equity: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- P/E Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
- EV/EBIT: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- Return on Invested Capital: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- PEG Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
- Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
- EV/EBITDA: EBITDA is zero or negative, so a multiple of it is not meaningful.
- Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
- Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
- Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
- ROIC-WACC Spread: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- Price To Graham: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
- Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
- Dividend Streak: We do not hold this figure for this company, so there is nothing to show.
9 of 10
Declared positions
Whether anybody here owns this company.
Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.
10 of 10
Next step
What to do with what you have read.
A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.
What this cannot tell you
- 14 figures could not be read on this company, among them Debt to Equity, P/E Ratio, EV/EBIT. Each blank in the table above names the rest, with its reason. 7 named tests come back incomplete because of them, which is neither met nor missed.
And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.
Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.
No card. 30 free days, and nothing is charged unless you choose a plan.
ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.