# Cleveland-Cliffs Inc.: overview

CLF · NYSE · CIK 764065 · [Materials](/sectors/materials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/clf.md) · [Financials](/companies/clf/financials.md) · [Filings](/companies/clf/filings.md) · [Insiders](/companies/clf/insiders.md)

Latest reported revenue: [$5.61bn](/filings/0000764065-26-000115.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 20, 2026 (XBRL us-gaap:Revenues, accession 0000764065-26-000115).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [4,325 d](/filings/0000764065-26-000025.md) | [4,629](/filings/0000764065-26-000070.md) | [4,934](/filings/0000764065-26-000100.md) | [4,734](/filings/0000764065-26-000115.md) | [4,313 d](/filings/0000764065-26-000025.md) | [4,922](/filings/0000764065-26-000070.md) | [5,226](/filings/0000764065-26-000100.md) | [5,612](/filings/0000764065-26-000115.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(10.8%) d](/filings/0000764065-26-000025.md) | [(11.7%)](/filings/0000764065-26-000070.md) | [(10.2%)](/filings/0000764065-26-000100.md) | [(4.3%)](/filings/0000764065-26-000115.md) | [(7.7%) d](/filings/0000764065-26-000025.md) | [(4.3%)](/filings/0000764065-26-000070.md) | [(0.9%)](/filings/0000764065-26-000100.md) | [5.5%](/filings/0000764065-26-000115.md) |
| Net margin | % | [(10.3%) d](/filings/0000764065-26-000025.md) | [(10.8%)](/filings/0000764065-26-000070.md) | [(9.9%)](/filings/0000764065-26-000100.md) | [(5.3%)](/filings/0000764065-26-000115.md) | [(5.6%) d](/filings/0000764065-26-000025.md) | [(4.8%)](/filings/0000764065-26-000070.md) | [(2.8%)](/filings/0000764065-26-000100.md) | [2.7%](/filings/0000764065-26-000115.md) |
| Diluted EPS | $ per share | not reported | [(1.01)](/filings/0000764065-26-000070.md) | [(0.98)](/filings/0000764065-26-000100.md) | [(0.51)](/filings/0000764065-26-000115.md) | not reported | [(0.42)](/filings/0000764065-26-000070.md) | [(0.25)](/filings/0000764065-26-000100.md) | [0.26](/filings/0000764065-26-000115.md) |
| Free cash flow | $m | [(677) d](/filings/0000764065-26-000025.md) | [(503)](/filings/0000764065-26-000070.md) | [(67.0) d](/filings/0000764065-26-000100.md) | [(300) d](/filings/0000764065-26-000115.md) | [(153) d](/filings/0000764065-26-000025.md) | [(477)](/filings/0000764065-26-000070.md) | [73.0 d](/filings/0000764065-26-000100.md) | [72.0 d](/filings/0000764065-26-000115.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [20.4](/filings/0000764065-24-000038.md) | [23.0](/filings/0000764065-25-000058.md) | [22.0](/filings/0000764065-26-000025.md) | [19.2](/filings/0000764065-26-000025.md) | [18.6](/filings/0000764065-26-000025.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [19.6%](/filings/0000764065-24-000038.md) | [8.4%](/filings/0000764065-25-000058.md) | [3.0%](/filings/0000764065-26-000025.md) | [(4.0%)](/filings/0000764065-26-000025.md) | [(8.5%)](/filings/0000764065-26-000025.md) |
| Net margin | % | [14.6%](/filings/0000764065-24-000038.md) | [5.8%](/filings/0000764065-25-000058.md) | [1.8%](/filings/0000764065-26-000025.md) | [(4.0%)](/filings/0000764065-26-000025.md) | [(7.9%)](/filings/0000764065-26-000025.md) |
| Diluted EPS | $ per share | [5.36](/filings/0000764065-24-000038.md) | [2.55](/filings/0000764065-25-000058.md) | [0.75](/filings/0000764065-26-000025.md) | [(1.58)](/filings/0000764065-26-000025.md) | [(2.91)](/filings/0000764065-26-000025.md) |
| Free cash flow | $bn | [2.1](/filings/0000764065-24-000038.md) | [1.5](/filings/0000764065-25-000058.md) | [1.6](/filings/0000764065-26-000025.md) | [(0.6)](/filings/0000764065-26-000025.md) | [(1.0)](/filings/0000764065-26-000025.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/clf/insiders.md)

| Date | Insider | Role | Transaction | Shares | Reported price | Value | Filing |
| --- | --- | --- | --- | ---: | ---: | ---: | --- |
| 2026-10-22 | [Camara Edilson](/insiders/2093073.md) | Director | Purchase (P) | 7,400 | $13.49 | $99.8k | [Form 4](/filings/0000764065-26-000117.md) |
| 2021-02-11 | [ArcelorMittal](/insiders/1243429.md) | Former 10% Owner | Sale (S) | 40,000,000 | $16.12 | $644.8m | [Form 4](/filings/0001140361-21-006135.md) |

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $522.8m | 55,672,638 |  | Reduced −2,944,888 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $312.2m | 33,248,516 |  | Reduced −6,062,727 |
| [Slate Path Capital LP](/funds/1559706.md) | 2026-06-30 | $266.8m | 28,410,081 |  | Added +9,166,100 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $242.2m | 25,796,291 |  | Added +201,937 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $236.5m | 25,187,723 |  | Added +8,369 |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $144.5m | 15,385,109 |  | Added +2,659,204 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $142.7m | 15,200,394 |  | Added +1,278,398 |
| [FAIRFAX FINANCIAL HOLDINGS LTD/ CAN](/funds/915191.md) | 2026-06-30 | $139.9m | 14,899,273 |  | Unchanged |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $117.0m | 12,454,764 |  | Reduced −3,034,443 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $99.0m | 10,544,562 |  | Added +79,320 |

## Recent filings

[All 2,023 filings](/companies/clf/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-20 | 20:10 ET | [10-Q](/filings/0000764065-26-000115.md) | Quarterly report, period 2026-09-30 | 0000764065-26-000115 |
| 2026-10-19 | 10:52 ET | [8-K](/filings/0000764065-26-000112.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000764065-26-000112 |
| 2026-07-24 | 20:37 ET | [8-K](/filings/0000764065-26-000102.md) | 5.02 Departure or appointment of officers or directors | 0000764065-26-000102 |
| 2026-07-23 | 20:08 ET | [10-Q](/filings/0000764065-26-000100.md) | Quarterly report, period 2026-06-30 | 0000764065-26-000100 |
| 2026-07-23 | 10:27 ET | [8-K](/filings/0000764065-26-000097.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000764065-26-000097 |
| 2026-05-20 | 20:44 ET | [8-K](/filings/0000764065-26-000086.md) | 5.07 Shareholder vote results | 0000764065-26-000086 |
| 2026-04-21 | 20:43 ET | [10-Q](/filings/0000764065-26-000070.md) | Quarterly report, period 2026-03-31 | 0000764065-26-000070 |
| 2026-04-20 | 10:47 ET | [8-K](/filings/0000764065-26-000067.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000764065-26-000067 |
| 2026-04-02 | 20:54 ET | [DEF 14A](/filings/0000764065-26-000054.md) | Proxy statement, period 2025-12-31 | 0000764065-26-000054 |
| 2026-02-23 | 21:16 ET | [8-K](/filings/0000764065-26-000044.md) | 5.02 Departure or appointment of officers or directors | 0000764065-26-000044 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000764065-26-000025.md), filed Feb 9, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 764065
- Tickers: CLF
- Exchange: NYSE
- SIC code: 1000 Metal Mining
- State of incorporation: OH
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:23 ET. No prices; not investment advice.