CLEVELAND-CLIFFS INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $18.6B | $19.2B | $22.0B | $23.0B | $20.4B |
| Cost of revenue | $19.5B | $19.1B | $20.6B | $20.5B | $15.9B |
| Selling, general & administrative | $543.0M | $486.0M | $577.0M | $465.0M | $422.0M |
| Operating income | -$1.6B | -$763.0M | $659.0M | $1.9B | $4.0B |
| Pretax income | -$2.0B | -$950.0M | $579.0M | $1.8B | $3.8B |
| Income tax expense | -$581.0M | -$236.0M | $144.0M | $423.0M | $773.0M |
| Net income | -$1.5B | -$760.0M | $385.0M | $1.3B | $3.0B |
| Balance Sheet | |||||
| Cash and equivalents | $57.0M | $54.0M | $198.0M | $26.0M | $48.0M |
| Current assets | $6.4B | $6.9B | $6.6B | $7.4B | $7.7B |
| Total assets | $20.0B | $20.9B | $17.5B | $18.8B | $19.0B |
| Current liabilities | $3.3B | $3.4B | $3.5B | $3.5B | $3.6B |
| Total liabilities | $13.7B | $14.1B | $9.4B | $10.7B | $13.2B |
| Total debt | $7.3B | $7.1B | $3.2B | $4.3B | $5.4B |
| Stockholders' equity | $6.1B | $6.6B | $7.9B | $7.8B | $5.5B |
| Cash Flow Statement | |||||
| Cash from operations | -$462.0M | $105.0M | $2.3B | $2.4B | $2.8B |
| Depreciation and amortization | $1.2B | $951.0M | $973.0M | $1.0B | $897.0M |
| Stock-based compensation | $57.0M | $50.0M | $41.0M | $28.0M | $18.0M |
| Capital expenditure | $561.0M | $695.0M | $646.0M | $943.0M | $705.0M |
| Free cash flow | -$1.0B | -$590.0M | $1.6B | $1.5B | $2.1B |
| Share repurchases | $0 | $733.0M | $152.0M | $240.0M | $0 |
| Impairments | $0 | $0 | $125.0M | $29.0M | $1.0M |
Shares outstanding 570.4M · Free float 99.6%
Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.