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Cleveland-Cliffs Inc. logo

Cleveland-Cliffs Inc.

CLF

NYSEBasic MaterialsSteel

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Previous close

$11.27

+$0.53 · +4.93%

Aug 21, 4:00 PM ET

CLF company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

20

Overpriced

Momentum

24

Weakening

Sentiment

64

Bullish

Risk resilience

30

High Risk

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Company profile

Company website

Cleveland-Cliffs Inc. stands as a prominent North American manufacturer specializing in flat-rolled steel. The company's diverse product portfolio encompasses a wide array of carbon steel forms, including hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel. Additionally, they supply stainless steel, various steel plates, and specialized electrical steels (both grain-oriented and non-oriented). Beyond these core offerings, Cleveland-Cliffs produces tubular components, fabricated from carbon steel, stainless steel, and via electric resistance welding. Their tinplate division manufactures electrolytic tin-coated and chrome-coated sheets, alongside other tin mill products. The company also provides essential raw materials, ingots, rolled and cast blooms, hot-briquetted iron, and services like tooling and sampling. A key aspect of its operations is vertical integration, as the company owns and manages five iron ore mines located in Minnesota and Michigan. Cleveland-Cliffs serves a broad customer base, including the automotive industry, infrastructure and general manufacturing sectors, distributors, converters, and other steel producers. Founded in 1847, the company is headquartered in Cleveland, Ohio, and officially adopted the name Cleveland-Cliffs Inc. in August 2017, having previously been known as Cliffs Natural Resources Inc.

Industry
Steel
Sector
Basic Materials
Headquarters
US
CEO
C. Lourenco Goncalves
Listed since
Nov 5, 1987
Employees
25,000

Market position

Day range

Current $11.27

52-week range

Current $11.27

Open
$11.205
Previous close
$10.74
Volume
18.1M
0.89× average
Average volume
20.42M
Average daily volume
Market cap
6.43B USD
Beta
2.12
Market reference 1
50-day average
$11.1216
+1.33% above average
200-day average
$11.3558
-0.76% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
14.65B USD
P/E (TTM)
-6.75×
P/B (TTM)
1.15×
P/S (TTM)
0.33×
EV / EBITDA
-147.98×
Earnings yield
-22.61%
Free cash flow yield
-15.65%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
-0.65%
Operating margin
-3.60%
Net margin
-4.56%
Return on equity
-24.17%
Return on assets
-7.39%
Return on invested capital
-5.72%

Financial health

Debt / equity
1.37×
Current ratio
1.95×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends25%13%1%-11%Gross margin, FY2021: 22.18%Gross margin, FY2022: 10.95%Gross margin, FY2023: 6.32%Gross margin, FY2024: 0.36%Gross margin, FY2025: -4.10%Operating margin, FY2021: 19.62%Operating margin, FY2022: 8.43%Operating margin, FY2023: 3.08%Operating margin, FY2024: -3.94%Operating margin, FY2025: -7.29%Net margin, FY2021: 14.62%Net margin, FY2022: 5.81%Net margin, FY2023: 1.81%Net margin, FY2024: -3.93%Net margin, FY2025: -7.94%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 22.18%. Gross margin FY2022 10.95%. Gross margin FY2023 6.32%. Gross margin FY2024 0.36%. Gross margin FY2025 -4.10%. Operating margin FY2021 19.62%. Operating margin FY2022 8.43%. Operating margin FY2023 3.08%. Operating margin FY2024 -3.94%. Operating margin FY2025 -7.29%. Net margin FY2021 14.62%. Net margin FY2022 5.81%. Net margin FY2023 1.81%. Net margin FY2024 -3.93%. Net margin FY2025 -7.94%.

Income trends

Revenue

18.61B USD-3.00%

Operating income

−1.36B USD-79.37%

Net income

−1.48B USD-96.02%
Income trends across reported periods25.44B USD15.65B USD5.86B USD−3.92B USDRevenue, FY2021: 20.44B USDRevenue, FY2022: 22.99B USDRevenue, FY2023: 22B USDRevenue, FY2024: 19.19B USDRevenue, FY2025: 18.61B USDOperating income, FY2021: 4.01B USDOperating income, FY2022: 1.94B USDOperating income, FY2023: 677M USDOperating income, FY2024: −756M USDOperating income, FY2025: −1.36B USDNet income, FY2021: 2.99B USDNet income, FY2022: 1.34B USDNet income, FY2023: 399M USDNet income, FY2024: −754M USDNet income, FY2025: −1.48B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 20.44B USD. Revenue FY2022 22.99B USD. Revenue FY2023 22B USD. Revenue FY2024 19.19B USD. Revenue FY2025 18.61B USD. Operating income FY2021 4.01B USD. Operating income FY2022 1.94B USD. Operating income FY2023 677M USD. Operating income FY2024 −756M USD. Operating income FY2025 −1.36B USD. Net income FY2021 2.99B USD. Net income FY2022 1.34B USD. Net income FY2023 399M USD. Net income FY2024 −754M USD. Net income FY2025 −1.48B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue18.61B USD19.19B USD22B USD22.99B USD20.44B USD
Cost of goods sold19.37B USD19.12B USD20.61B USD20.47B USD15.91B USD
Gross profit−763M USD70M USD1.39B USD2.52B USD4.53B USD
Selling, general, and administrative543M USD486M USD577M USD465M USD422M USD
Operating expenses593M USD826M USD714M USD575M USD502M USD
Interest expense594M USD370M USD289M USD276M USD337M USD
Depreciation and amortization1.31B USD951M USD973M USD1.03B USD904M USD
Operating income−1.36B USD−756M USD677M USD1.94B USD4.01B USD
Net income−1.48B USD−754M USD399M USD1.34B USD2.99B USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 4 misses, 0 met estimates
Average EPS surprise
+14.96%
11 comparable reports
Latest EPS result
-0.2
Estimate -0.21 · Beat by 4.02%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.34-0.11-0.56-1.01Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 24, 2025: actual -0.68, estimate -0.65, surprise -4.62%, Miss. Q2 2025, reported May 7, 2025: actual -0.92, estimate -0.825, surprise -11.47%, Miss. Q3 2025, reported Jul 21, 2025: actual -0.5, estimate -0.68, surprise +26.47%, Beat. Q4 2025, reported Oct 20, 2025: actual -0.45, estimate -0.48, surprise +6.25%, Beat. Q1 2026, reported Feb 9, 2026: actual -0.43, estimate -0.62, surprise +30.65%, Beat. Q2 2026, reported Apr 20, 2026: actual -0.4, estimate -0.44, surprise +9.09%, Beat. Q3 2026, reported Jul 23, 2026: actual -0.2, estimate -0.208, surprise +4.02%, Beat. Q4 2026, reported Oct 19, 2026: actual —, estimate 0.25, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates5.93B5.31B4.7B4.08BQ1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 24, 2025: actual 4.33B USD, estimate 4.46B USD, surprise -3.04%, Miss. Q2 2025, reported May 7, 2025: actual 4.63B USD, estimate 4.63B USD, surprise +0.07%, Beat. Q3 2025, reported Jul 21, 2025: actual 4.93B USD, estimate 4.9B USD, surprise +0.78%, Beat. Q4 2025, reported Oct 20, 2025: actual 4.73B USD, estimate 4.66B USD, surprise +1.65%, Beat. Q1 2026, reported Feb 9, 2026: actual 4.31B USD, estimate 4.57B USD, surprise -5.53%, Miss. Q2 2026, reported Apr 20, 2026: actual 4.92B USD, estimate 4.81B USD, surprise +2.36%, Beat. Q3 2026, reported Jul 23, 2026: actual 5.23B USD, estimate 5.15B USD, surprise +1.56%, Beat. Q4 2026, reported Oct 19, 2026: actual —, estimate 5.7B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

44 ratings
Strong buy00%
Buy1023%
Hold2352%
Sell1125%
Strong sell00%

Corporate actions

Corporate action history

Stock split

Effective May 16, 2008

2:1

Stock split

Effective Jul 3, 2006

2:1

Stock split

Effective Jan 3, 2005

2:1

Stock split

Effective Sep 18, 1978

2:1

Stock split

Effective Dec 16, 1975

2:1

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ETFs holding CLF

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Mid-Cap ETF logoiShares Core S&P Mid-Cap ETFIJH
Market value
242.88M
Weight
0.19%
AUM
125.92B USD
Expense ratio
0.05%
Price / 1D
$76.77+0.52%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
209.62M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
State Street SPDR S&P Metals & Mining ETF logoState Street SPDR S&P Metals & Mining ETFXME
Market value
155.54M
Weight
3.40%
AUM
4.58B USD
Expense ratio
0.35%
Price / 1D
$119.34+4.05%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
151.09M
Weight
0.08%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
95.95M
Weight
0.14%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$249.18+0.68%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
75.69M
Weight
0.08%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
Global X - U.S. Infrastructure Development ETF logoGlobal X - U.S. Infrastructure Development ETFPAVE
Market value
51.04M
Weight
0.37%
AUM
13.86B USD
Expense ratio
0.47%
Price / 1D
$56.39+0.62%
State Street SPDR S&P MIDCAP 400 ETF Trust logoState Street SPDR S&P MIDCAP 400 ETF TrustMDY
Market value
44.87M
Weight
0.17%
AUM
26.72B USD
Expense ratio
0.23%
Price / 1D
$699.6+0.48%

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