Cleveland-Cliffs Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	18,903	18,610	19,185	21,996	22,989	20,444
Revenue Growth (YoY)	1.55%	-3.00%	-12.78%	-4.32%	12.45%	281.84%
Cost of Revenue	19,446	19,470	19,122	20,623	20,471	15,910
Gross Profit	-543	-860	63	1,373	2,518	4,534
Selling, General & Admin	536	543	486	577	465	422
Other Operating Expenses	167	176	340	137	114	100
Total Operating Expenses	703	719	826	714	579	522
Operating Income	-1,246	-1,579	-763	659	1,939	4,012
Interest Expense	-602	-594	-370	-289	-276	-337
Other Non-Operating Income (Expense)	206	169	183	209	133	128
Total Non-Operating Income (Expense)	-396	-425	-187	-80	-143	-209
Pretax Income	-1,673	-2,004	-950	579	1,796	3,803
Provision for Income Taxes	-513	-581	-236	144	423	773
Net Income	-1,160	-1,423	-714	435	1,373	3,030
Minority Interest in Earnings	46	50	46	51	41	45
Earnings From Discontinued Operations	-8	-5	-	1	3	3
Net Income to Common	-1,214	-1,478	-760	385	1,335	2,988
Net Income Growth	-	-	-	-71.16%	-55.32%	-
Shares Outstanding (Basic)	527	508	480	510	519	498
Shares Outstanding (Diluted)	527	508	480	511	524	558
Shares Change (YoY)	9.57%	5.83%	-6.07%	-2.48%	-6.09%	47.23%
EPS (Basic)	-2.35	-2.91	-1.58	0.75	2.57	5.63
EPS (Diluted)	-2.35	-2.91	-1.58	0.75	2.55	5.36
EPS Growth	-	-	-	-70.59%	-52.42%	-
Free Cash Flow	-997	-1,023	-590	1,621	1,480	2,080
Free Cash Flow Growth	-	-	-	9.53%	-28.85%	-
Free Cash Flow Per Share	-1.89	-2.01	-1.23	3.17	2.82	3.73
Gross Margin	-2.87%	-4.62%	0.33%	6.24%	10.95%	22.18%
Operating Margin	-6.59%	-8.48%	-3.98%	3.00%	8.43%	19.62%
Profit Margin	-6.14%	-7.65%	-3.72%	1.98%	5.97%	14.82%
FCF Margin	-5.27%	-5.50%	-3.08%	7.37%	6.44%	10.17%
EBITDA	-34	-344	188	1,632	2,973	4,909
EBITDA Margin	-0.18%	-1.85%	0.98%	7.42%	12.93%	24.01%
EBIT	-1,246	-1,579	-763	659	1,939	4,012
EBIT Margin	-6.59%	-8.48%	-3.98%	3.00%	8.43%	19.62%
Effective Tax Rate	30.66%	28.99%	24.84%	24.87%	23.55%	20.33%

SEC Filings: 10-K · 10-Q