I've had CLF on my watch list since I started posting here and I still don't understand the low valuation. Even if we only counted the upcoming Q3 consensus of 55 cents, (4X), a share we'd still arrive at a P/E of 6.9. Revenue has grown from 2019 $2B to '22 expected $23.5B.
I have to take some time to understand the ratio of long term to short term debt. They clearly are focused on reducing debt overhang but if interest rates remain high for another year I'd like to understand if there's impact.
Longer term we're going to replace most ICE vehicles over the next decade or so and being a union shop should help them gain market share considering rules inside the IRA. Not an investment for me today but I do like this one long term.
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