Cleveland-Cliffs Financial Statements
NYSE: CLFBasic MaterialsMetal MiningUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Cleveland-Cliffs revenue and earnings
In fiscal 2025, Cleveland-Cliffs generated $18.61 billion in revenue, down 3.0% from fiscal 2024, its first annual decline since 2024. Cleveland-Cliffs reported a net loss of $1.48 billion, compared with a loss of $760.0 million a year earlier. Gross margin was -4.6% (down from 0.3%) and operating margin -8.5%.
Diluted earnings per share came in at -$2.91. Over the last 5 fiscal years, CLF's revenue has grown at a 28.3% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Cleveland-Cliffs income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 18.61B | 19.18B | 22.00B | 22.99B | 20.44B | 5.35B | 1.99B | 2.33B | 1.87B | 1.55B |
| Revenue growth (YoY) | -3.00% | -12.78% | -4.32% | +12.45% | +281.85% | +169.05% | -14.67% | +24.97% | +20.04% | -22.79% |
| Cost of Revenue | 19.47B | 19.12B | 20.62B | 20.47B | 15.91B | 5.10B | 1.41B | 1.52B | 1.40B | 1.27B |
| Gross Profit | -860.00M | 63.00M | 1.37B | 2.52B | 4.53B | 252.00M | 575.70M | 809.60M | 467.60M | 280.10M |
| Operating Expenses | 719.00M | 826.00M | 714.00M | 579.00M | 522.00M | 394.00M | 146.40M | 136.40M | 77.40M | 149.40M |
| Selling, General & Admin | 543.00M | 486.00M | 577.00M | 465.00M | 422.00M | 244.00M | 113.00M | 113.00M | 102.90M | 115.80M |
| Operating Income | -1.58B | -763.00M | 659.00M | 1.94B | 4.01B | -142.00M | 429.00M | 673.00M | 390.20M | 130.70M |
| Other Income (Expense) | -425.00M | -187.00M | -80.00M | -143.00M | -209.00M | -51.00M | -116.00M | -108.00M | -282.00M | -20.30M |
| Pretax Income | -2.00B | -950.00M | 579.00M | 1.80B | 3.80B | -193.00M | 313.00M | 565.00M | 108.20M | 110.40M |
| Income Tax | -581.00M | -236.00M | 144.00M | 423.00M | 773.00M | -111.00M | 18.00M | -475.00M | -252.40M | -12.20M |
| Net Income | -1.48B | -760.00M | 385.00M | 1.33B | 2.99B | -122.00M | 293.00M | 1.13B | 367.00M | 174.10M |
| Net Income growth (YoY) | — | -297.40% | -71.16% | -55.32% | — | -141.64% | -74.02% | +207.36% | +110.80% | — |
| EPS (Basic) | -2.91 | -1.58 | 0.75 | 2.57 | 5.63 | -0.32 | 1.06 | 3.80 | 1.28 | 0.88 |
| EPS (Diluted) | -2.91 | -1.58 | 0.75 | 2.55 | 5.36 | -0.32 | 1.03 | 3.71 | 1.26 | 0.87 |
| Shares Outstanding (Basic) | 508.00M | 480.00M | 510.00M | 519.00M | 498.00M | 379.00M | 277.00M | 297.00M | 288.44M | 197.70M |
| Shares Outstanding (Diluted) | 508.00M | 480.00M | 511.00M | 524.00M | 558.00M | 379.00M | 284.00M | 304.00M | 292.96M | 200.10M |
| EBITDA | -344.00M | 188.00M | 1.63B | 2.97B | 4.91B | 166.00M | 514.00M | 762.00M | 477.90M | 246.10M |
| Gross Margin | -4.62% | 33.00% | 6.24% | 10.95% | 22.18% | 4.71% | 28.93% | 34.72% | 25.06% | 18.02% |
| Operating Margin | -8.48% | -3.98% | 3.00% | 8.43% | 19.62% | -2.65% | 21.56% | 28.86% | 20.91% | 8.41% |
| Net Margin | -7.94% | -3.96% | 1.75% | 5.81% | 14.62% | -2.28% | 14.72% | 48.37% | 19.67% | 11.20% |
This table shows 10 annual periods of Cleveland-Cliffs's income statement, from FY 2025 back to FY 2016, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow CLF's reporting calendar. What is a income statement?