Cleveland-Cliffs Inc. (CLF)
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.
- Symbol
- CLF
- Exchange
- NYSE
- Sector
- Basic Materials
- Industry
- Steel
- Market cap
- $7.34B
- 52 week range
- 7.73 - 16.7
Valuation
- Share price
- $12.87 (close of 2026-09-23)
- P/E (TTM)
- -8.09x
- Price to book
- 1.26x
- Price to free cash flow
- -8.57x
- Enterprise value
- $14.98B
- Book value per share
- $10.20
Price performance
| Period | Change |
|---|
| 1 day | +2.71% |
| 5 days | +5.93% |
| 1 month | +14.20% |
| 3 months | +15.32% |
| 6 months | +60.27% |
| Year to date | -3.09% |
| 1 year | +11.91% |
| 3 years | -11.00% |
| 5 years | -38.24% |
| 10 years | +109.61% |
| All time | +537.13% |
Profitability and growth
- Return on equity
- -23.37%
- Return on invested capital
- -7.38%
- Return on assets
- -7.39%
- Return on capital employed
- -9.45%
- Gross margin
- -4.62%
- Net margin
- -7.94%
- EBITDA margin
- -1.85%
- Revenue growth
- -3.00%
- Net income growth
- -94.47%
- Free cash flow growth
- -73.39%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -11.67%
- Current ratio
- 1.89x
- Net debt to EBITDA
- 15.80x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $18.61B
- Cost of revenue
- $19.47B
- Gross profit
- $-860.00M
- EBITDA
- $-344.00M
- Net income
- $-1.48B
- Earnings per share
- $-2.91
- Shares outstanding
- 508.00M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $18.61B | $-860.00M | $-1.48B | $-2.91 |
| 2024-12-31 | $19.18B | $63.00M | $-760.00M | $-1.58 |
| 2023-12-31 | $22.00B | $1.37B | $385.00M | $0.75 |
| 2022-12-31 | $22.99B | $2.52B | $1.33B | $2.57 |
| 2021-12-31 | $20.44B | $4.53B | $2.99B | $5.63 |
| 2020-12-31 | $5.35B | $252.00M | $-122.00M | $-0.32 |
| 2019-12-31 | $1.99B | $575.70M | $293.00M | $1.06 |
| 2018-12-31 | $2.33B | $809.60M | $1.13B | $3.80 |
| 2017-12-31 | $1.87B | $467.60M | $367.00M | $1.28 |
| 2016-12-31 | $1.55B | $280.10M | $174.10M | $0.88 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | -4.62% | -7.94% | -23.37% | -7.38% |
| 2024-12-31 | 0.33% | -3.96% | -11.07% | -3.80% |
| 2023-12-31 | 6.24% | 1.75% | 4.75% | 4.67% |
| 2022-12-31 | 10.95% | 5.81% | 16.62% | 12.37% |
| 2021-12-31 | 22.18% | 14.62% | 51.75% | 28.10% |
| 2020-12-31 | 4.71% | -2.28% | -5.21% | -0.86% |
| 2019-12-31 | 28.93% | 14.72% | 81.84% | 19.40% |
| 2018-12-31 | 34.72% | 48.37% | 266.04% | 39.74% |
| 2017-12-31 | 25.06% | 19.67% | -82.47% | 44.30% |
| 2016-12-31 | 18.02% | 11.20% | -13.09% | 23.79% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $57.00M | $7.25B |
| 2024-12-31 | $54.00M | $7.07B |
| 2023-12-31 | $198.00M | $3.14B |
| 2022-12-31 | $26.00M | $4.25B |
| 2021-12-31 | $48.00M | $5.24B |
| 2020-12-31 | $112.00M | $5.39B |
| 2019-12-31 | $353.00M | $2.11B |
| 2018-12-31 | $823.20M | $2.09B |
| 2018-01-01 | $978.30M | $2.30B |
| 2017-12-31 | $978.30M | $2.30B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $-1.02B | $57.00M |
| 2024-12-31 | $-590.00M | $50.00M |
| 2023-12-31 | $1.62B | $41.00M |
| 2022-12-31 | $1.48B | $28.00M |
| 2021-12-31 | $2.08B | $18.00M |
| 2020-12-31 | $-783.00M | $17.00M |
| 2019-12-31 | $-88.00M | $18.00M |
| 2018-12-31 | $183.00M | $15.00M |
| 2017-12-31 | $203.20M | $18.20M |
| 2016-12-31 | $295.60M | $13.60M |
Dividend history
- Most recent payment
- 2020-04-02
| Payment date | Dividend per share |
|---|
| 2020-04-02 | $0.06 |
| 2020-01-02 | $0.06 |
| 2019-10-03 | $0.10 |
| 2019-07-03 | $0.06 |
| 2019-04-04 | $0.05 |
| 2019-01-03 | $0.05 |
| 2014-11-12 | $0.15 |
| 2014-08-13 | $0.15 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-19
- Consensus EPS estimate
- $0.24
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-23 | Jun/2026 | - |
| 2026-04-20 | - | - |
| 2026-02-09 | - | - |
| 2025-10-20 | - | - |
| 2025-07-21 | - | - |
| 2025-05-07 | - | - |
| 2025-04-21 | - | - |
| 2025-02-24 | - | - |
Filings and sources
- Company website
- clevelandcliffs.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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