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Cleveland-Cliffs (CLF)

NYSE Materials Steel S&P MidCap 400
$11.46
+0.19 (+1.69%)
Close of Nov 06, 2026 · end-of-day data
Source: Cleveland-Cliffs's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$1.55B$1.87B$2.33B$1.99B$5.35B$20.44B$22.99B$22.00B$19.18B$18.61B
Cost of revenue$1.27B$1.40B$1.52B$1.41B$5.10B$15.91B$20.47B$20.62B$19.12B$19.47B
Gross profit$280.10M$467.60M$809.60M$575.70M$252.00M$4.53B$2.52B$1.37B$63.00M-$860.00M
Selling, general & admin$115.80M$102.90M$113.00M$113.00M$244.00M$422.00M$465.00M$577.00M$486.00M$543.00M
Operating income$130.70M$390.20M$673.00M$429.00M-$142.00M$4.01B$1.94B$659.00M-$763.00M-$1.58B
Pre-tax income$110.40M$108.20M$565.00M$313.00M-$193.00M$3.80B$1.80B$579.00M-$950.00M-$2.00B
Income tax-$12.20M-$252.40M-$475.00M$18.00M-$111.00M$773.00M$423.00M$144.00M-$236.00M-$581.00M
Net income$174.10M$367.00M$1.13B$293.00M-$122.00M$2.99B$1.33B$385.00M-$760.00M-$1.48B
EBITDA$246.10M$477.90M$762.00M$514.00M$166.00M$4.91B$2.97B$1.63B$188.00M-$344.00M
EPS (basic)$0.88$1.28$3.80$1.06$-0.32$5.63$2.57$0.75$-1.58$-2.91
EPS (diluted)$0.87$1.26$3.71$1.03$-0.32$5.36$2.55$0.75$-1.58$-2.91
Diluted shares200.10M292.96M304.00M284.00M379.00M558.00M524.00M511.00M480.00M508.00M
Gross margin18.0%25.1%34.7%28.9%4.7%22.2%11.0%6.2%0.3%-4.6%
Operating margin8.4%20.9%28.9%21.6%-2.7%19.6%8.4%3.0%-4.0%-8.5%
Net margin11.2%19.7%48.4%14.7%-2.3%14.6%5.8%1.8%-4.0%-7.9%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$312.80M$978.30M$823.20M$353.00M$112.00M$48.00M$26.00M$198.00M$54.00M$57.00M
Receivables$128.70M$106.70M$226.70M$94.00M$1.17B$2.15B$1.96B$1.84B$1.58B$1.44B
Inventory$178.40M$138.40M$181.10M$317.00M$3.83B$5.19B$5.13B$4.46B$5.09B$4.77B
Total current assets$824.60M$1.54B$1.48B$898.00M$5.30B$7.65B$7.42B$6.64B$6.91B$6.43B
Goodwill———$2.00M$1.41B$1.12B$1.13B$1.00B$1.77B$1.81B
Total assets$1.92B$2.95B$3.53B$3.50B$16.77B$18.98B$18.75B$17.54B$20.95B$20.01B
Total current liabilities$391.10M$452.20M$468.20M$409.00M$2.93B$3.56B$3.55B$3.51B$3.36B$3.30B
Short-term debt$17.50M———$34.00M—————
Long-term debt$2.18B$2.30B$2.09B$2.11B$5.39B$5.24B$4.25B$3.14B$7.07B$7.25B
Total debt$2.19B$2.30B$2.09B$2.11B$5.42B$5.24B$4.25B$3.14B$7.07B$7.25B
Total liabilities$3.25B$3.40B$3.11B$3.15B$13.69B$13.20B$10.71B$9.41B$14.08B$13.69B
Shareholders' equity-$1.46B-$444.30M$424.20M$358.00M$2.02B$5.49B$7.79B$7.89B$6.63B$6.12B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$303.00M$338.10M$479.00M$568.00M-$258.00M$2.79B$2.42B$2.27B$105.00M-$462.00M
Capital expenditures$7.40M$134.90M$296.00M$656.00M$525.00M$705.00M$943.00M$646.00M$695.00M$561.00M
Free cash flow$295.60M$203.20M$183.00M-$88.00M-$783.00M$2.08B$1.48B$1.62B-$590.00M-$1.02B
Investing cash flow-$57.90M-$156.00M-$273.00M-$644.00M-$2.04B-$1.38B-$936.00M-$591.00M-$3.21B-$479.00M
Financing cash flow-$206.40M$498.90M-$376.00M-$394.00M$2.06B-$1.47B-$1.51B-$1.50B$2.97B$942.00M
Dividends paid$0$0$0$72.00M$41.00M—————
Share buybacks—$0$48.00M$253.00M$0$0$240.00M$152.00M$733.00M$0
Stock-based compensation$13.60M$18.20M$15.00M$18.00M$17.00M$18.00M$28.00M$41.00M$50.00M$57.00M
Depreciation & amortization$115.40M$87.70M$89.00M$85.00M$308.00M$897.00M$1.03B$973.00M$951.00M$1.24B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.