CLF
Cleveland-Cliffs Inc
NYSE: CLF · BASIC MATERIALS · STEEL
$10.25
+0.29% today
Updated 2026-04-29
Market cap
$5.85B
P/E ratio
—
P/S ratio
0.31x
EPS (TTM)
$-2.31
Dividend yield
—
52W range
$6 – $17
Volume
17.8M
Cleveland-Cliffs Inc (CLF) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.92B | $2.28B | $3.61B | $2.34B | $4.68B | $6.79B | $5.87B | $5.69B | $4.62B | $2.01B | $2.11B | $2.33B | $2.33B | $1.99B | $5.35B | $20.44B | $22.99B | $22.00B | $19.18B | $18.61B |
| Revenue growth (YoY) | — | +18.4% | +58.6% | -35.1% | +99.9% | +45.1% | -13.6% | -3.1% | -18.8% | -56.5% | +4.8% | +10.5% | +0.1% | -14.7% | +169.1% | +281.8% | +12.4% | -4.3% | -12.8% | -3.0% |
| Cost of revenue | $1.51B | $1.81B | $2.45B | $2.03B | $3.16B | $4.11B | $4.70B | $4.54B | $4.17B | $1.78B | $1.72B | $1.82B | $1.52B | $1.41B | $5.10B | $15.91B | $20.47B | $20.61B | $19.11B | $19.37B |
| Gross profit | $414.00M | $462.00M | $1.16B | $308.90M | $1.52B | $2.69B | $1.17B | $1.15B | $451.40M | $236.50M | $389.30M | $509.60M | $809.60M | $575.70M | $252.00M | $4.53B | $2.52B | $1.39B | $70.00M | $-763.00M |
| Gross margin | 21.5% | 20.3% | 32.1% | 13.2% | 32.5% | 39.6% | 20.0% | 20.2% | 9.8% | 11.7% | 18.5% | 21.9% | 34.7% | 28.9% | 4.7% | 22.2% | 11.0% | 6.3% | 0.4% | -4.1% |
| R&D | $5.60M | — | — | $0.00 | $0.00 | $80.50M | $142.80M | $59.00M | $8.80M | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $64.00M | $114.20M | $188.60M | $120.70M | $238.00M | $274.40M | $282.50M | $231.60M | $208.70M | $110.00M | $117.80M | $105.80M | $116.80M | $119.40M | $244.00M | $422.00M | $465.00M | $577.00M | $486.00M | $543.00M |
| Operating income | $361.70M | $378.40M | $938.90M | $230.20M | $1.26B | $2.33B | $-308.80M | $671.00M | $-9.43B | $151.30M | $240.80M | $431.50M | $673.20M | $429.30M | $-142.00M | $4.01B | $1.94B | $677.00M | $-756.00M | $-1.36B |
| Operating margin | 18.8% | 16.6% | 26.0% | 9.8% | 27.0% | 34.3% | -5.3% | 11.8% | -203.9% | 7.5% | 11.4% | 18.5% | 28.9% | 21.6% | -2.7% | 19.6% | 8.4% | 3.1% | -3.9% | -7.3% |
| EBITDA | $445.00M | $485.60M | $957.20M | $565.50M | $1.69B | $2.88B | $219.60M | $1.26B | $-8.91B | $675.60M | $288.00M | $477.90M | $776.00M | $498.40M | $353.00M | $5.04B | $3.11B | $1.86B | $378.00M | $-45.00M |
| EBITDA margin | 23.2% | 21.3% | 26.5% | 24.1% | 36.1% | 42.5% | 3.7% | 22.2% | -192.8% | 33.6% | 13.7% | 20.5% | 33.3% | 25.0% | 6.6% | 24.7% | 13.5% | 8.5% | 2.0% | -0.2% |
| EBIT | $361.70M | $378.40M | $756.10M | $328.90M | $1.37B | $2.46B | $-306.20M | $668.40M | $-9.42B | $541.60M | $172.60M | $390.20M | $687.00M | $413.30M | $45.00M | $4.14B | $2.07B | $886.00M | $-573.00M | $-1.36B |
| Interest expense | $3.60M | $22.60M | $39.80M | $39.00M | $69.70M | $216.50M | $195.60M | $186.40M | $176.70M | $228.50M | $193.90M | $126.80M | $118.90M | $101.00M | $238.00M | $337.00M | $276.00M | $289.00M | $370.00M | $594.00M |
| Income tax | $90.90M | $84.10M | $144.20M | $20.80M | $292.00M | $420.10M | $255.90M | $55.10M | $-1.32B | $169.30M | $-12.20M | $-252.40M | $-475.20M | $17.60M | $-111.00M | $773.00M | $423.00M | $148.00M | $-235.00M | $-581.00M |
| Effective tax rate | 24.5% | 23.8% | 21.8% | 9.2% | 22.3% | 20.6% | -39.8% | 11.8% | 15.5% | -29.2% | -7.5% | -206.0% | -72.8% | 5.7% | 47.6% | 20.6% | 24.1% | 27.1% | 23.8% | 28.2% |
| Net income | $280.10M | $270.00M | $515.80M | $205.10M | $1.02B | $1.62B | $-899.40M | $413.50M | $-7.19B | $-749.30M | $174.10M | $374.90M | $1.13B | $292.80M | $-122.00M | $2.99B | $1.33B | $399.00M | $-754.00M | $-1.48B |
| Net income growth (YoY) | — | -3.6% | +91.0% | -60.2% | +397.3% | +58.8% | -155.5% | +146.0% | -1838.6% | +89.6% | +123.2% | +115.3% | +200.9% | -74.0% | -141.7% | +2549.2% | -55.3% | -70.1% | -289.0% | -96.0% |
| Profit margin | 14.6% | 11.9% | 14.3% | 8.8% | 21.8% | 23.8% | -15.3% | 7.3% | -155.5% | -37.2% | 8.3% | 16.1% | 48.4% | 14.7% | -2.3% | 14.6% | 5.8% | 1.8% | -3.9% | -7.9% |