Cleveland-Cliffs Inc. (CLF) — Financial statements
Income statement, balance sheet, and cash flow for Cleveland-Cliffs Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 18,610↓3.0% | 19,185↓12.8% | 21,996↓4.3% | 22,989↑12.4% | 20,444 | |
| Cost of Revenue | 19,373↑1.3% | 19,115↓7.2% | 20,605↑0.7% | 20,471↑28.7% | 15,910 | |
| Gross Profit | -763↓1190.0% | 70↓95.0% | 1,391↓44.8% | 2,518↓44.5% | 4,534 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 543↑11.7% | 486↓15.8% | 577↑24.1% | 465↑10.2% | 422 | |
| Other Expenses | 50↓85.3% | 340↑148.2% | 137↑24.5% | 110↑37.5% | 80 | |
| Operating Expenses | 593↓28.2% | 826↑15.7% | 714↑24.2% | 575↑14.5% | 502 | |
| Total Costs & Expenses | 19,966↑0.1% | 19,941↓6.5% | 21,319↑1.3% | 21,046↑28.1% | 16,432 | |
| Operating Results | ||||||
| Operating Income | -1,356↓79.4% | -756↓211.7% | 677↓65.1% | 1,939↓51.7% | 4,012 | |
| Depreciation & Amortization | 1,311↑37.9% | 951↓2.3% | 973↓5.9% | 1,034↑14.4% | 904 | |
| EBITDA | -45↓111.9% | 378↓79.7% | 1,859↓40.1% | 3,106↓38.4% | 5,044 | |
| EBIT | -1,356↓136.6% | -573↓164.7% | 886↓57.2% | 2,072↓50.0% | 4,140 | |
| Interest & Other Income | ||||||
| Net Interest Income | -594↓60.5% | -370↓28.0% | -289↓4.7% | -276↑18.1% | -337 | |
| Interest Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Interest Expense | 594↑60.5% | 370↑28.0% | 289↑4.7% | 276↓18.1% | 337 | |
| Non-Operating Income | 0.00↑100.0% | -183↑12.4% | -209↓57.1% | -133↓3.9% | -128 | |
| Other Income / Expenses | -648↓246.5% | -187↓133.8% | -80↑44.1% | -143↑31.6% | -209 | |
| Income Before Tax | -2,004↓112.5% | -943↓258.0% | 597↓66.8% | 1,796↓52.8% | 3,803 | |
| Income Tax Expense | -581↓147.2% | -235↓258.8% | 148↓65.0% | 423↓45.3% | 773 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -1,423↓101.0% | -708↓257.7% | 449↓67.3% | 1,373↓54.7% | 3,030 | |
| Net Income from Discontinued Operations | -5 | 0.00↓100.0% | 1↓66.7% | 3↑0.0% | 3 | |
| Net Income | -1,478↓96.0% | -754↓289.0% | 399↓70.1% | 1,335↓55.3% | 2,988 | |
| Bottom-Line Net Income | -1,478↓96.0% | -754↓289.0% | 399↓70.0% | 1,332↓55.4% | 2,988 | |
| EPS (Basic) | -3.00↓91.1% | -1.57↓301.3% | 0.78↓69.6% | 2.57↓54.3% | 5.62 | |
| EPS (Diluted) | -3.00↓91.1% | -1.57↓301.3% | 0.78↓69.4% | 2.55↓52.3% | 5.35 | |
| Weighted Average Shares | 492↑2.5% | 480↓5.9% | 510↓1.7% | 519↓7.1% | 559 | |
| Weighted Average Diluted Shares | 492↑2.5% | 480↓6.1% | 511↓2.5% | 524↓6.1% | 558 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.