CLEVELAND-CLIFFS INC.

CLF

CLEVELAND-CLIFFS INC.

CLF

Insider Sentiment (TTM):

Last Purchase:2026-02-13Last Sale:2026-06-05Shares Purchased (TTM):19,700Shares Sold (TTM):3,414,308

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:451,433,323Shares Outstanding:570,397,492Institutional Ownership Pct.:79.14%

Earnings Market Reaction:

Filing Date:2026-07-23Price on Filing Date:N/APrevious Close:N/A% Change:N/A

Companies in Metal Mining

SCCO FCX MP USAR TMC IE

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	70	45	57	66	-61	-57	54	39	-110	-30	198	31
Accounts Receivable Net Current	2,044	1,882	1,442	1,797	1,783	1,798	1,576	1,583	1,773	1,868	1,840	2,122
Inventory Net	4,525	4,591	4,772	4,683	4,699	4,886	5,094	4,236	4,199	4,449	4,460	4,592
Other Assets Current	175	192	164	143	144	223	183	169	110	122	138	196
Assets Current	6,814	6,710	6,435	6,689	6,687	6,964	6,907	6,027	6,192	6,469	6,636	6,941
Assets Noncurrent
Property Plant And Equipment Net	9,239	9,345	9,481	9,508	9,620	9,797	9,942	8,687	8,728	8,771	8,895	8,837
Goodwill	1,784	1,800	1,814	1,796	1,814	1,767	1,768	1,005	1,005	1,005	1,005	1,130
Intangible Assets Net Excluding Goodwill	1,063	1,102	1,135	1,142	1,185	1,150	1,170	-	-	-	201	-
Defined Benefit Plan Assets For Plan Benefits Nonc…	547	515	469	469	453	443	427	378	354	344	329	392
Other Assets Noncurrent	668	643	678	686	712	715	733	699	649	647	471	759
Assets	20,115	20,115	20,012	20,290	20,471	20,836	20,947	16,796	16,928	17,236	17,537	18,059
Liabilities
Liabilities Current
Accounts Payable Current	2,159	2,011	1,893	1,914	1,947	2,020	2,008	1,983	2,080	2,051	2,099	2,076
Employee Related Liabilities Current	509	457	517	565	521	443	486	413	431	449	511	467
Accrued Liabilities Current	378	346	396	339	348	361	375	379	296	318	380	263
Other Liabilities Current	560	509	496	462	461	442	492	480	511	578	518	488
Liabilities Current	3,606	3,323	3,302	3,280	3,277	3,266	3,361	3,255	3,318	3,396	3,508	3,294
Liabilities Noncurrent
Long Term Debt Noncurrent	7,703	7,763	7,253	8,039	7,727	7,601	7,065	3,774	3,507	3,664	3,137	3,458
Defined Benefit Pension Plan Liabilities Noncurren…	-	-	-	-	-	-	-	-	-	-	-	456
Other Postretirement Defined Benefit Plan Liabilit…	-	-	-	-	-	-	-	-	-	-	-	563
Pension And Other Postretirement Defined Benefit P…	617	631	655	645	693	711	751	666	757	791	821	-
Deferred Tax And Other Liabilities Noncurrent	300	305	375	506	612	723	849	567	621	628	639	662
Other Liabilities Noncurrent	1,376	1,381	1,422	1,499	1,507	1,442	1,453	1,439	1,353	1,315	753	1,362
Liabilities	14,297	14,096	13,689	14,583	14,429	14,352	14,080	9,701	9,556	9,794	9,415	9,795
Stockholders Equity Inclu…
Stockholders Equity
Common Stock Value Outstanding	76	76	76	66	66	66	66	66	66	66	66	66
Additional Paid In Capital	5,746	5,732	5,736	4,783	4,768	4,756	4,758	4,875	4,864	4,851	4,861	4,850
Retained Earnings Accumulated Deficit	-911	-766	-529	-286	1	484	949	1,426	1,668	1,666	1,733	1,888
Treasury Stock Common Value	-643	-645	-659	-660	-660	-664	-676	-1,153	-1,154	-1,030	-430	-431
Accumulated Other Comprehensive Income Loss Net Of…	1,336	1,425	1,492	1,563	1,644	1,612	1,537	1,640	1,666	1,648	1,657	1,647
Stockholders Equity	5,818	6,019	6,323	5,466	5,819	6,254	6,634	6,854	7,110	7,442	8,122	8,020
Minority Interest	214	197	207	241	223	230	233	241	262	241	235	244
Liabilities And Stockholders Equity	20,115	20,115	20,012	20,290	20,471	20,836	20,947	16,796	16,928	17,236	17,537	18,059
Common Stock Par Or Stated Value Per Share	0.125	0.125	0.125	0.125	0.125	0.125	0.125	0.125	0.125	0.125	0.125	0.125
Common Stock Shares Authorized	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200
Common Stock Shares Issued	606	606	606	531	531	531	531	531	531	531	531	531
Shares Outstanding	571	570	570	495	495	494	494	468	468	475	505	505
Treasury Stock Common Shares	36	36	36	36	36	37	37	63	63	56	26	26

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	12.92%	50.93%	2.96%	-	-	-	-	-	-	-	-	-
2025	-18.46%	3.78%	60.00%	-7.63%	3.64%	16.95%	-17.46%	-2.23%	-1.85%	-20.15%	-31.76%	-14.62%
2024	-3.95%	-18.21%	-11.30%	-15.80%	-20.28%	-12.05%	7.24%	-20.41%	-13.78%	-12.70%	-32.34%	-29.47%
2023	-	-	-	-13.53%	-17.40%	-12.37%	7.33%	18.13%	16.99%	9.11%	17.70%	-7.45%
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Performance and Valuation Metrics

Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	1.89	2.02	1.95	2.04	2.04	2.13	2.06	1.85	1.87	1.90	1.89	2.11
Quick Ratio	0.63	0.64	0.50	0.61	0.61	0.64	0.54	0.55	0.60	0.59	0.62	0.71
Working Capital	3.21B	3.39B	3.13B	3.41B	3.41B	3.70B	3.55B	2.77B	2.87B	3.07B	3.13B	3.65B
Leverage & Debt
Debt to Equity	2.46	2.34	2.16	2.67	2.48	2.29	2.05	1.42	1.34	1.32	1.16	1.22
Interest Coverage TTM	-1.31	-2.07	-2.66	-2.98	-3.37	-2.84	-2.06	-1.32	0.73	2.43	2.34	2.00
Debt Ratio	0.71	0.70	0.68	0.72	0.70	0.69	0.67	0.58	0.56	0.57	0.54	0.54
Efficiency & Turnover
Asset Turnover TTM	0.95	0.92	0.91	1.00	0.99	0.98	1.00	1.15	1.19	1.22	1.21	1.16
Days Sales Outstanding TTM	36.39	35.53	29.60	33.12	35.16	35.94	32.50	33.86	35.30	34.03	31.53	36.81
Receivables Turnover TTM	10.03	10.27	12.33	11.02	10.38	10.16	11.23	10.78	10.34	10.72	11.58	9.92
Per Share Metrics
Free Cash Flow Per Share TTM	-1.41	-1.65	-1.69	-2.91	-2.79	-1.98	-1.11	1.08	2.66	3.40	3.05	2.63
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	201.05%	202.89%	204.62%	205.00%	205.37%	203.32%	199.67%	197.45%	194.79%	192.80%	193.68%	194.70%
Operating Profit Margin TTM	-4.15%	-6.61%	-8.48%	-9.23%	-9.62%	-6.81%	-3.98%	-1.97%	0.92%	3.06%	3.08%	2.71%
Net Profit Margin TTM	-4.63%	-6.44%	-7.94%	-8.68%	-8.82%	-6.15%	-3.72%	-2.21%	0.37%	1.94%	2.05%	1.65%
Growth Metrics
Net Revenue Growth (1Y)	4.00%	1.55%	-3.00%	-6.76%	-12.14%	-15.00%	-12.78%	-8.92%	-4.40%	-1.92%	-4.32%	-5.85%
Net Income Growth (1Y)	-45.36%	6.29%	107.00%	266.67%	-2,185.90%	-369.41%	-258.67%	-221.82%	-69.05%	-13.62%	-66.29%	-85.02%
EPS Growth (1Y)	-52.12%	-6.87%	81.39%	266.67%	-2,185.90%	-369.41%	-258.67%	-221.82%	-69.05%	-13.62%	-66.29%	-85.02%
Valuation Metrics
P/E TTM	-6.40	-4.21	-5.45	-4.01	-2.48	-3.81	-6.99	-15.38	104.78	28.41	24.10	22.93
P/B TTM	0.98	0.85	1.27	1.19	0.69	0.70	0.73	0.99	1.15	1.62	1.34	1.03
P/S TTM	0.30	0.27	0.43	0.35	0.22	0.23	0.26	0.34	0.39	0.55	0.49	0.38
Market Cap	5.69B	5.12B	8.05B	6.48B	4.04B	4.37B	4.99B	6.78B	8.17B	12.08B	10.84B	8.30B
Enterprise Value	13.32B	12.83B	15.24B	14.44B	11.69B	11.90B	12.00B	10.52B	11.57B	15.71B	13.91B	11.73B
Calculated Values
Free Cash Flow TTM	-857.00M	-997.00M	-1.02B	-1.55B	-1.48B	-1.05B	-590.00M	574.00M	1.41B	1.81B	1.62B	1.40B
Net Debt	7.63B	7.71B	7.19B	7.97B	7.66B	7.54B	7.01B	3.74B	3.40B	3.63B	3.06B	3.43B
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-06-05Sale

Owner: Goncalves, Celso L Jr

Title: EVP, CFO

Shares: 214,308

Price/Share: $13.41

Value: $2,873,870.28

Shares Owned: 184,542

Relationship: Officer

Ownership: Direct

2026-02-17Sale

Owner: Smith, Clifford T

Title: EVP & Chief Operating Officer

Shares: 200,000

Price/Share: $10.46

Value: $2,092,000.00

Shares Owned: 560,529

Relationship: Officer

Ownership: Direct

2026-02-13Purchase

Owner: Camara, Edilson

Title: -

Shares: 19,700

Price/Share: $10.13

Value: $199,561.00

Shares Owned: 41,983

Relationship: Director

Ownership: Direct

2026-02-11Sale

Owner: Goncalves, Lourenco

Title: Chairman, President & CEO

Shares: 3,000,000

Price/Share: $12.42

Value: $37,260,000.00

Shares Owned: -

Relationship: Director,Officer

Ownership: Indirect

2025-05-23Sale

Owner: Graham, James D

Title: EVP Chief Legal Admin & Sec

Shares: 120,000

Price/Share: $6.85

Value: $822,000.00

Shares Owned: 492,249

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-06-05	Goncalves, Celso L Jr	Officer	EVP, CFO	Direct	Sale	214,308	13.41	$2,873,870.28	184,542	4
2026-02-17	Smith, Clifford T	Officer	EVP & Chief Operating Officer	Direct	Sale	200,000	10.46	$2,092,000.00	560,529	4
2026-02-13	Camara, Edilson	Director	-	Direct	Purchase	19,700	10.13	$199,561.00	41,983	4
2026-02-11	Goncalves, Lourenco	Director,Officer	Chairman, President & CEO	Indirect	Sale	3,000,000	12.42	$37,260,000.00	0	4
2025-05-23	Graham, James D	Officer	EVP Chief Legal Admin & Sec	Direct	Sale	120,000	6.85	$822,000.00	492,249	4
2025-03-10	Baldwin, John T	Director	-	Direct	Purchase	4,000	8.70	$34,800.00	133,227	4
2025-02-28	Koci, Keith	Officer	EVP & President, CC Services	Direct	Purchase	9,500	10.82	$102,790.00	543,475	4
2025-02-28	Cronin, Jane M.	Director	-	Direct	Purchase	10,000	10.56	$105,600.00	24,522	4
2024-11-20	Bloom, Ron A.	Director	-	Direct	Sale	1,554	11.77	$18,290.58	64,024	4
2024-08-01	Baldwin, John T	Director	-	Direct	Purchase	8,000	14.53	$116,240.00	129,227	4
2024-06-13	Baldwin, John T	Director	-	Direct	Purchase	7,500	14.70	$110,250.00	121,227	4
2024-06-13	Michael, Ralph S Iii	Director	-	Direct	Purchase	20,000	14.74	$294,800.00	199,519	4
2024-06-12	Oren, Ben	Director	-	Direct	Purchase	6,700	14.99	$100,433.00	14,167	4
2024-06-12	Goncalves, Celso L Jr	Officer	EVP, CFO	Direct	Purchase	7,250	14.99	$108,677.50	314,362	4
2024-06-11	Taylor, Douglas C	Director	-	Direct	Sale	36,000	14.87	$535,320.00	100,536	4
2024-05-01	Goncalves, Lourenco	Director,Officer	Chairman, President & CEO	Direct	Purchase	60,000	16.76	$1,005,600.00	2,759,089	4
2024-05-01	Bloom, Ron A.	Director	-	Direct	Purchase	25,000	17.00	$425,000.00	59,900	4
2024-03-13	Green, Susan Miranda	Director	-	Direct	Sale	6,500	20.40	$132,600.00	90,286	4
2024-03-06	Fedor, Terry G.	Officer	EVP, Operations	Direct	Sale	27,430	20.19	$553,811.70	534,617	4
2024-03-06	Yocum, Arlene M	Director	-	Direct	Purchase	2,000	20.03	$40,060.00	94,887	4
2024-03-06	Graham, James D	Officer	EVP Chief Legal Admin & Sec	Direct	Sale	24,154	20.19	$487,669.26	534,103	4
2024-03-06	Smith, Clifford T	Officer	EVP & President, CC Steel	Direct	Sale	27,430	20.19	$553,811.70	770,109	4
2024-03-06	Goncalves, Lourenco	Director,Officer	Chairman, President & CEO	Direct	Sale	187,136	20.19	$3,778,275.84	2,699,089	4
2024-02-01	Bloom, Ron A.	Director	-	Direct	Purchase	25,000	20.24	$506,000.00	27,221	4
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Institutional Ownership

No data available for chart

2026-03-31

79.14%

Inst. Shares: 451,433,323

Shares Outstanding: 570,397,492

2025-12-31

78.21%

Inst. Shares: 445,619,205

Shares Outstanding: 569,759,243

2025-09-30

75.54%

Inst. Shares: 373,707,135

Shares Outstanding: 494,699,774

2025-06-30

75.44%

Inst. Shares: 373,169,204

Shares Outstanding: 494,679,326

2025-03-31

70.92%

Inst. Shares: 350,676,828

Shares Outstanding: 494,490,795

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	451,433,323	570,397,492	79.14%
2025-12-31	445,619,205	569,759,243	78.21%
2025-09-30	373,707,135	494,699,774	75.54%
2025-06-30	373,169,204	494,679,326	75.44%
2025-03-31	350,676,828	494,490,795	70.92%
2024-12-31	339,962,564	493,948,905	68.83%
2024-09-30	317,681,129	468,067,482	67.87%
2024-06-30	325,401,923	468,038,839	69.52%
2024-03-31	300,922,594	475,472,486	63.29%
2023-12-31	316,110,516	504,886,773	62.61%
2023-09-30	317,600,526	504,849,719	62.91%
2023-06-30	290,504,186	508,679,179	57.11%
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CLEVELAND-CLIFFS INC. (CLF) — SEC Financial Statements & Analysis

CLEVELAND-CLIFFS INC. (CLF) is a metal mining company, incorporated in OH. CLEVELAND-CLIFFS INC. trades on NYSE as: CLF. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), CLEVELAND-CLIFFS INC. reported a 4.00% year-over-year revenue growth, a Gross Profit Margin of 201.05% (TTM), a Debt-to-Equity ratio of 2.46x, a Price-to-Sales (P/S) ratio of 0.30x (TTM), a Price-to-Book (P/B) ratio of 0.98 (TTM), at a market cap of $5.69B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 4.00%
Gross Profit Margin TTM: 201.05%
Debt To Equity: 2.46x
P/S TTM: 0.30x
P/B TTM: 0.98
Market Cap: $5.69B

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is CLEVELAND-CLIFFS INC. in?

CLEVELAND-CLIFFS INC. (CLF) operates in the Metal Mining industry.

What is CLF's market cap?

CLEVELAND-CLIFFS INC. (CLF) has a market capitalization of $5.69B as of 2026-06-30.

What exchange does CLF trade on?

CLEVELAND-CLIFFS INC. (CLF) trades on the NYSE.

Where is CLEVELAND-CLIFFS INC. incorporated?

CLEVELAND-CLIFFS INC. is incorporated in OH.

CLEVELAND-CLIFFS INC. (CLF) — SEC Financial Statements & Analysis

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