Financial Statements · From SEC 10-K & 10-Q XBRL Filings
Cleveland-Cliffs Inc. Revenue & Financial Statements
Cleveland-Cliffs Inc. reported revenue of $18.6B for the fiscal year ended December 31, 2025, down 3.0% year over year, with net income of $(1.4B) and diluted EPS of $-2.91.
- Company
- Cleveland-Cliffs Inc. CLF · NYSE
- Latest fiscal year
- FY ended Dec 31, 2025
- Statements
- Income · Balance Sheet · Cash Flow — 5 fiscal years, 8 quarters
Income Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | 20.4B | 23.0B | 22.0B | 19.2B | 18.6B |
| Cost of revenue | 15.9B | 20.5B | 20.6B | 19.1B | 19.5B |
| Gross profit | 4.5B | 2.5B | 1.4B | 70.0M | (860.0M) |
| Operating income | 4.0B | 1.9B | 677.0M | (756.0M) | (1.6B) |
| Pretax income | (24.0M) | (7.0M) | (3.0M) | (49.0M) | (458.0M) |
| Net income | 3.7B | 2.5B | 226.0M | (874.0M) | (1.4B) |
| Diluted EPS | 5.36 | 2.55 | 0.78 | -1.57 | -2.91 |
| EBITDA | 4.9B | 3.0B | 1.6B | 195.0M | (344.0M) |
Quarterly
| USD | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.1B | 4.6B | 4.3B | 4.6B | 4.9B | 4.7B | 4.3B | 4.9B |
| Cost of revenue | 4.9B | 4.7B | 4.6B | 5.0B | 5.1B | 4.8B | 4.5B | 5.0B |
| Gross profit | 162.0M | (104.0M) | (273.0M) | (391.0M) | (209.0M) | (46.0M) | (206.0M) | (82.0M) |
| Operating income | 6.0M | (259.0M) | (465.0M) | (538.0M) | (498.0M) | (204.0M) | (331.0M) | (213.0M) |
| Pretax income | (6.0M) | (306.0M) | (570.0M) | (630.0M) | (618.0M) | (309.0M) | (439.0M) | (307.0M) |
| Net income | 20.0M | (268.0M) | (550.0M) | (420.0M) | (451.0M) | (332.0M) | (235.0M) | (229.0M) |
| Diluted EPS | 0.00 | -0.52 | -0.93 | — | — | -0.51 | -0.42 | -0.42 |
| EBITDA | 234.0M | (24.0M) | (207.0M) | (256.0M) | (105.0M) | 84.0M | (59.0M) | 46.0M |
Balance Sheet
Fiscal year-end snapshots. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 19.0B | 18.8B | 17.5B | 20.9B | 20.0B |
| Current assets | 7.7B | 7.4B | 6.6B | 6.9B | 6.4B |
| Cash & equivalents | 48.0M | 26.0M | 198.0M | 54.0M | 57.0M |
| Total liabilities | 13.2B | 10.7B | 9.4B | 14.1B | 13.7B |
| Current liabilities | 3.6B | 3.5B | 3.5B | 3.3B | 3.3B |
| Long-term debt | 5.2B | 4.2B | 3.1B | 7.1B | 7.3B |
| Total debt | 5.2B | 4.2B | 3.1B | 7.1B | 7.3B |
| Stockholders’ equity | 5.5B | 7.8B | 7.9B | 6.7B | 6.1B |
| Net debt | 5.2B | 4.2B | 2.9B | 7.0B | 7.2B |
Cash Flow Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Operating cash flow | 2.8B | 2.4B | 2.3B | 105.0M | (462.0M) |
| Investing cash flow | (1.4B) | (936.0M) | (591.0M) | (3.2B) | (479.0M) |
| Financing cash flow | (1.5B) | (1.5B) | (1.5B) | 3.0B | 942.0M |
| Capital expenditure | 705.0M | 943.0M | 646.0M | 695.0M | 561.0M |
| Free cash flow | 2.1B | 1.5B | 1.6B | (590.0M) | (1.0B) |
| Dividends paid | — | — | — | — | — |
| Stock-based compensation | — | — | — | — | — |
Figures are parsed from SEC XBRL company facts and may be derived where issuers report year-to-date values (quarterly figures differenced; Q4 computed as FY minus Q3). Fiscal periods follow each company's fiscal calendar, not calendar years. Historical fact, not investment advice — verify with official SEC filings.
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