# Cleveland-Cliffs Inc. (CLF)

**Exchange:** NYSE  
**Sector:** Basic Materials  
**Market cap:** $6.30B  
**Price:** $12.41 (-2.44%)

> Cleveland-Cliffs Inc. is a Cleveland-based industrial company focused on flat-rolled steel production and iron ore pellet supply for the North American market. Cleveland-Cliffs serves customers across automotive, infrastructure, manufacturing, and other industrial sectors through a vertically integrated model that spans raw material sourcing, steelmaking, rolling, finishing, and downstream fabrication services. Its operations also include tubular products, stamping, and tooling, supporting a broad range of metal-intensive applications. The company is organized around steelmaking and related business segments, with an emphasis on supplying high-quality steel products and processed materials to commercial and industrial buyers. Cleveland-Cliffs plays a significant role in the North American steel supply chain by combining mineral inputs, ironmaking capabilities, and finished steel products within a single operating platform.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $18.61B | -$860M | -$1.58B | -$1.48B | — |
| 2024 | $19.18B | $63M | -$763M | -$760M | — |
| 2023 | $22.00B | $1.37B | $659M | $385M | — |
| 2022 | $22.99B | $2.52B | $1.94B | $1.33B | — |
| 2021 | $20.44B | $4.53B | $4.01B | $2.99B | — |
| 2020 | $5.35B | $252M | -$142M | -$122M | — |
| 2019 | $1.99B | $576M | $429M | $293M | — |
| 2018 | $2.33B | $810M | $673M | $1.13B | — |
| 2017 | $1.87B | $468M | $390M | $367M | — |
| 2016 | $1.55B | $280M | $131M | $174M | — |
| 2015 | $2.01B | $237M | $151M | -$749M | — |
| 2014 | $3.37B | $886M | $130M | -$7.22B | — |
| 2013 | $3.89B | $1.48B | $1.38B | $414M | — |
| 2012 | $5.87B | $1.17B | -$309M | -$899M | — |
| 2011 | $6.56B | $2.61B | $2.30B | $1.62B | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $20.01B | $13.69B | $6.12B | $57M | $7.25B |
| 2024 | $20.95B | $14.08B | $6.63B | $54M | $7.07B |
| 2023 | $17.54B | $9.41B | $7.89B | $198M | $3.14B |
| 2022 | $18.75B | $10.71B | $7.79B | $26M | $4.25B |
| 2021 | $18.98B | $13.20B | $5.49B | $48M | $5.24B |
| 2020 | $16.77B | $13.69B | $2.02B | $112M | $5.42B |
| 2019 | $3.50B | $3.15B | $358M | $353M | $2.11B |
| 2018 | $3.53B | $3.11B | $424M | $823M | $2.09B |
| 2017 | $2.95B | $3.40B | -$444M | $978M | $2.30B |
| 2016 | $1.92B | $3.25B | -$1.46B | $313M | $2.19B |
| 2015 | $2.14B | $3.95B | -$1.98B | $285M | $2.70B |
| 2014 | $3.15B | $4.88B | -$1.43B | $271M | $2.83B |
| 2013 | $13.10B | $6.24B | $6.07B | $336M | $3.04B |
| 2012 | $13.57B | $7.81B | $4.63B | $195M | $4.05B |
| 2011 | $14.54B | $7.50B | $5.79B | $519M | $3.61B |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$462M | $561M | -$1.02B |
| 2024 | $105M | $695M | -$590M |
| 2023 | $2.27B | $646M | $1.62B |
| 2022 | $2.42B | $943M | $1.48B |
| 2021 | $2.79B | $705M | $2.08B |
| 2020 | -$258M | $525M | -$783M |
| 2019 | $568M | $656M | -$88M |
| 2018 | $479M | $296M | $183M |
| 2017 | $338M | $135M | $203M |
| 2016 | $303M | $7M | $296M |
| 2015 | $38M | $81M | -$43M |
| 2014 | $359M | $284M | $75M |
| 2013 | $1.15B | $862M | $284M |
| 2012 | $515M | $1.13B | -$613M |
| 2011 | $2.29B | $881M | $1.41B |

Source: [CompaniesByCap](https://companiesbycap.com/company/CLF)