Zacks Investment Research·Jun 23, 2026
Why Cleveland-Cliffs (CLF) Dipped More Than Broader Market TodayCleveland-Cliffs (CLF) reached $11.16 at the closing of the latest trading day, reflecting a -6.14% change compared to its last close.
Cleveland-Cliffs Inc.(CLF)Earnings, Financials & Key Ratios
CLF•NYSE
$9.77
Price updated Jul 6, 2026
AboutCleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers carbon steel products, such as hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; raw materials; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products. Further, it owns five iron ore mines in Minnesota and Michigan. The company serves automotive, infrastructure and manufacturing, distributors and converters, and steel producers. Cleveland-Cliffs Inc. was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. The company was founded in 1847 and is headquartered in Cleveland, Ohio.Show more
- Revenue$18.61B-3.0%
- EBITDA-$45M-123.1%
- Net Income-$1.48B-96.0%
- EPS (Diluted)-3.00-91.1%
- Gross Margin-4.1%-1223.6%
- EBITDA Margin-0.24%-123.8%
- Operating Margin-7.29%-84.9%
- Net Margin-7.94%-102.1%
- ROE-22.36%-122.7%
CLF Price & Volume
Cleveland-Cliffs Inc. (CLF) stock price & volume — 10-year historical chart
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Persistent Margin Compression Strains Capital Structure Stability
Investment Thesis • Updated 2026Q1
VerdictNegative: The company's inability to generate consistent positive free cash flow
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Liquidity and solvency pressure
Key Thesis Takeaways
- Cleveland-Cliffs faces significant headwinds as its integrated steelmaking model struggles with persistent negative operating margins, which reached -11.6% in 2025Q1.
- The company's financial flexibility appears increasingly constrained by a rising debt-to-equity ratio of 1.29 and a dwindling cash position of $45 million as of 2026Q1.
- Investors should monitor the company's ability to manage high fixed-cost requirements while navigating volatile industrial demand cycles that have resulted in a -7.94% TTM net margin.
Verdict Logic
highlighted by a -9.7% FCF margin in 2026Q1, suggests significant risks to long-term solvency.
CLF Growth Metrics
Cleveland-Cliffs Inc. (CLF) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years24.91%
5 Years28.3%
3 Years-6.8%
TTM1.55%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-2.71%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM1.88%
Return on Capital
10 Years10.55%
5 Years6.41%
3 Years-2.68%
Last Year-7.9%
CLF Recent Earnings
Cleveland-Cliffs Inc. (CLF) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
Apr 20, 2026Metric
Actual
Est
EPS
$0.40+9.1%
$0.44
Rev
$4.9B+2.4%
$4.8B
Q1 2026
Feb 9, 2026Metric
Actual
Est
EPS
$0.43+30.6%
$0.62
Rev
$4.3B-5.5%
$4.6B
Q4 2025
Oct 20, 2025Metric
Actual
Est
EPS
$0.45+6.3%
$0.48
Rev
$4.7B+1.6%
$4.7B
Q3 2025
Jul 21, 2025Metric
Actual
Est
EPS
$0.50+26.5%
$0.68
Rev
$4.9B+0.8%
$4.9B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 20, 2026 | $0.40vs $0.44+9.1% | $4.9Bvs $4.8B+2.4% |
| Q1 2026 | Feb 9, 2026 | $0.43vs $0.62+30.6% | $4.3Bvs $4.6B-5.5% |
| Q4 2025 | Oct 20, 2025 | $0.45vs $0.48+6.3% | $4.7Bvs $4.7B+1.6% |
| Q3 2025 | Jul 21, 2025 | $0.50vs $0.68+26.5% | $4.9Bvs $4.9B+0.8% |
Based on last 12 quarters of dataView full earnings history →
Latest CLF News
Recent stock market news and headlines for Cleveland-Cliffs Inc. (CLF)
Zacks Investment Research·Jun 22, 2026
Cleveland-Cliffs (CLF) Dips More Than Broader Market: What You Should KnowIn the closing of the recent trading day, Cleveland-Cliffs (CLF) stood at $11.89, denoting a -3.18% move from the preceding trading day.
Zacks Investment Research·Jun 18, 2026
Cleveland-Cliffs Inc. (CLF) is Attracting Investor Attention: Here is What You Should KnowCleveland-Cliffs (CLF) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Zacks Investment Research·Jun 16, 2026
Cleveland-Cliffs (CLF) Declines More Than Market: Some Information for InvestorsCleveland-Cliffs (CLF) reached $13.27 at the closing of the latest trading day, reflecting a -2.64% change compared to its last close.
Peers Comparison
Key metrics vs top competitors for Cleveland-Cliffs Inc. (CLF)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $9.77 | $5.57B | -3.26 | -3% | -7.94% | -22.36% | — | |
| $223.92 | $51B | 29.78 | 5.73% | 6.82% | 10.58% | — | |
| $221.76 | $31.98B | 27.75 | 3.63% | 7.22% | 15.29% | — | |
| $62.70 | $6.94B | 84.73 | -1.61% | 6.72% | 13.65% | — | |
| $377.56 | $19.3B | 27.01 | 3.32% | 5.43% | 11.17% | — | |
| $32.64 | $1.66B | 93.26 | 11.33% | 0.49% | 1.26% | — |
Compare CLF vs Peers
Cleveland-Cliffs Inc. (CLF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CLF SEC Filings & Documents
Cleveland-Cliffs Inc. (CLF) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 20, 2026·SEC
Material company update
Apr 20, 2026·SEC
Material company update
Feb 23, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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CLF Frequently Asked Questions
Cleveland-Cliffs Inc. (CLF) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Cleveland-Cliffs Inc.'s revenue?
Cleveland-Cliffs Inc. (CLF) reported $18.90B in revenue for fiscal year 2025. This represents a 3657% increase from $503.2M in 1996.
How fast is Cleveland-Cliffs Inc. growing?
Cleveland-Cliffs Inc. (CLF) saw revenue decline by 3.0% over the past year.
Is CLF profitable?
Cleveland-Cliffs Inc. (CLF) reported a net loss of $1.21B for fiscal year 2025.
Dividend & Returns
What is CLF's return on equity?
Cleveland-Cliffs Inc. (CLF) has a return on equity (ROE) of -22.4%. Negative ROE indicates the company is unprofitable.
What is Cleveland-Cliffs Inc.'s free cash flow?
Cleveland-Cliffs Inc. (CLF) had negative free cash flow of $997.0M in fiscal year 2025, likely due to heavy capital investments.