NYSE:CLF
Cleveland-cliffs Inc.
Cleveland-cliffs Inc.'s revenue fell 3.0% in fiscal 2025 to $18.6B while operating margin fell to −8.5%, its lowest in 10 years. Free cash flow was −$1.0B, −5.5% of revenue, and the diluted share count rose 5.8%.Summary generated from Cleveland-cliffs Inc.'s SEC filings. Latest annual report filed Feb 9, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$18.6B
Revenue growth−3.0%
Revenue, 5-yr CAGR+28.3%
Gross margin−4.6%
Operating margin−8.5%
Net margin−7.9%
ROIC−9.3%
Return on equity−23.2%
Debt / equity1.19
Free cash flow−$1.0B
FCF margin−5.5%
Share count change+5.8%
Financials
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 20.4 | 23.0 | 22.0 | 19.2 | 18.6 |
| Operating income | 4.0 | 1.9 | 0.7 | −0.8 | −1.6 |
| Net income | 3.0 | 1.3 | 0.4 | −0.8 | −1.5 |
| Free cash flow | 2.1 | 1.5 | 1.6 | −0.6 | −1.0 |
Recent filings
- 4Insider transaction report
Oct 2, 2026 - 4Insider transaction report
Oct 2, 2026 - 8-KDirector or officer change
Jul 24, 2026 - 10-QQuarterly report for the period ended Jun 30, 2026
Jul 23, 2026 - 8-KResults of operations and financial condition
Jul 23, 2026 - 8-KResults of a shareholder vote
May 20, 2026 - 10-QQuarterly report for the period ended Mar 31, 2026
Apr 21, 2026 - 8-KResults of operations and financial condition
Apr 20, 2026