stockrowCleveland-Cliffs Inc.
CLF Basic Materials Steel
Cleveland-Cliffs Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.6 billion, down 3.00% from fiscal 2024.
- Revenue
- +18.6%
- EPS
- +152.9%
- Free cash flow
- +124.0%
- Total debt
- −4.90%
Quarter to September 2026, against a year earlier
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Cleveland-Cliffs Inc. (CLF) Operating margin
Cleveland-Cliffs Inc.'s operating margin over the twelve months to 30 September 2026 was −1.40%, up 7.1 percentage points from fiscal 2025 (−8.48%). Over the past ten years it has ranged from −8.48% (fiscal 2025) to 28.9% (fiscal 2018) — the current reading is the lowest in ten years. That is below the Steel industry median of 6.93% and below the Basic Materials sector median of 2.88%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | −8.48% | (4.50) |
| FY2024 | −3.98% | (6.98) |
| FY2023 | 3.00% | (5.43) |
| FY2022 | 8.43% | (11.19) |
| FY2021 | 19.6% | 22.27 |
| FY2020 | −2.65% | (24.21) |
| FY2019 | 21.6% | (7.30) |
| FY2018 | 28.9% | 7.95 |
| FY2017 | 20.9% | 12.50 |
| FY2016 | 8.41% | 0.89 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 5.54% | 6.48 |
| Jun 2026 | −0.94% | 3.39 |
| Mar 2026 | −4.33% | 3.34 |
| Dec 2025 | −7.67% | (3.36) |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| SIM Grupo Simec, S.A. de C.V. compare | 17.0% |
| STLD Steel Dynamics, Inc. compare | 11.5% |
| TX Ternium S.A. compare | 9.31% |
| RS Reliance, Inc. compare | 8.80% |
| GGB Gerdau S.A. compare | 7.45% |
| MT ArcelorMittal compare | 4.26% |
| PKX POSCO Holdings Inc. compare | 2.57% |
| WS Worthington Steel, Inc. compare | 0.12% |
| CLF Cleveland-Cliffs Inc. | −1.40% |
| Steel industry median | 6.93% |
| Basic Materials sector median | 2.88% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on CLF
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
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- The full statement