CLFNYSEMetal MiningFiscal year ends December 31

CLEVELAND-CLIFFS INC.

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026

$14.10+1.98 (+16.34%)

Close on Oct 19, 2026

Market cap: $8.05B
P/E (TTM): –
Dividend yield: –

CLEVELAND-CLIFFS INC. income statement

Annual Quarterly TTM

Millions of USD, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31	FY 2012 2012-12-31	FY 2011 2011-12-31	FY 2010 2010-12-31	FY 2009 2009-12-31	FY 2008 2008-12-31	FY 2007 2007-12-31
Revenue	18,610	19,185	21,996	22,989	20,444	5,354	1,990	2,332	1,866	1,555	2,013	3,373	3,891	5,873	6,564	4,484	2,342	3,609	2,275
Cost of Revenue	19,470	19,122	20,623	20,471	15,910	5,102	1,414	1,523	1,398	1,274	1,777	2,488	2,406	4,701	3,953	3,025	2,030	2,449	1,813
Gross Profit	-860	63	1,373	2,518	4,534	252	576	810	468	280	237	886	1,484	1,172	2,611	1,459	312	1,160	462
Selling, General & Admin	543	486	577	465	422	244	113	113	103	116	110	155	164	283	248	172	118	189	114
Operating Expenses	–	–	–	–	–	–	146	136	77	149	85	756	104	1,481	314	226	76	221	80
Total Costs & Expenses	20,189	19,948	21,337	21,050	16,432	5,496	1,561	1,659	–	–	–	–	–	–	–	–	–	–	–
Operating Income	-1,579	-763	659	1,939	4,012	-142	429	673	390	131	151	130	1,380	-309	2,297	1,233	236	939	382
Interest Expense	–	–	–	–	–	–	–	–	–	–	–	–	–	–	217	70	39	40	23
Interest & Investment Income	–	–	–	–	–	–	–	–	–	–	–	–	–	–	9.50	9.90	11	26	20
Income from Equity Investments	–	–	–	–	–	–	–	–	0	0	-0.10	-9.90	-74	-405	9.70	14	-66	-35	-11
Other Non-Operating Income	-425	-187	-80	-143	-209	-51	-116	-108	-282	-20	162	-150	-189	-193	-106	34	60	-223	-0.90
Merger & Restructuring Charges	86	129	0	0	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Asset Impairment Charges	0	0	125	0	0	0	0	1.00	0	0	3.30	636	14	1,050	28	0	–	–	–
Gain (Loss) on Sale of Assets	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3.00	13	23	18
Pretax Income	-2,004	-950	579	1,796	3,803	-193	313	565	108	110	313	-20	1,191	-502	2,191	1,266	297	716	381
Income Tax Expense	-581	-236	144	423	773	-111	18	-475	-252	-12	169	-86	238	256	408	283	23	144	84
Income from Continuing Operations	-1,473	-760	384	1,332	2,985	-123	295	1,040	365	97	135	31	864	-935	1,599	997	209	516	285
Income from Discontinued Operations	-5.00	0	1.00	3.00	3.00	1.00	-2.00	88	2.50	77	-892	-8,368	-517	36	20	23	-3.40	0	0.20
Net Income incl. Noncontrolling Interests	-1,428	-714	436	1,376	3,033	-81	293	1,128	363	199	-748	-8,312	362	-1,127	1,813	1,020	205	537	286
Minority Interest in Earnings	50	46	51	41	45	41	0	0	-3.90	25	0.90	-1,087	-52	-227	194	0	-0.80	21	16
Net Income	-1,478	-760	385	1,335	2,988	-122	293	1,128	367	174	-749	-7,224	414	-899	1,619	1,020	205	516	270
Preferred Dividends	–	–	–	–	–	–	–	–	0	0	38	51	49	0	0	–	–	1.10	5.30
Net Income to Common	-1,478	-760	385	1,335	2,988	-122	293	1,128	367	174	-788	-7,275	365	-899	1,619	1,020	205	515	265
EPS (Basic)(per share)	-2.91	-1.58	0.75	2.57	5.63	-0.32	1.06	3.80	1.28	0.88	-5.14	-47.52	2.40	-6.32	11.55	7.54	1.64	5.07	3.19
EPS (Diluted)(per share)	-2.91	-1.58	0.75	2.55	5.36	-0.32	1.03	3.71	1.26	0.87	-5.13	-47.52	2.37	-6.32	11.48	7.49	1.63	4.76	2.57
Shares Outstanding (Basic, Weighted)(shares)	508	480	510	519	498	379	277	297	288	198	153	153	152	142	140	135	125	101	83
Shares Outstanding (Diluted, Weighted)(shares)	508	480	511	524	558	379	284	304	293	200	154	153	174	142	141	136	126	108	105
Dividend per Share(per share)	–	–	–	–	–	0.06	0.27	0.05	0.00	0.00	0.60	0.60	0.60	2.16	0.84	0.51	0.26	0.35	0.25
EBITDA	-344	188	1,632	2,973	4,909	166	514	762	478	246	285	634	1,974	217	2,724	1,555	473	1,140	489
Net Interest Income	–	–	–	–	–	–	–	-119	-127	-194	-229	-177	-186	-196	-206	-59	–	–	–

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Jun 30, 2026

Profitability, TTM

Gross margin: -1.1%
Operating margin: -4.2%
Net margin: -4.6%
Return on equity, FY2025: -23.2%

Financial strength

Current ratio: 1.89
Debt to equity: 1.37
Debt to assets: 38.3%
Cash to current liabilities: 1.9%

Valuation

P/E ratio: –
Price to sales: 0.42
Price to book: 1.44
Dividend yield: –