CLEVELAND-CLIFFS INC.

CLFCIK 000076406519 fiscal years

RevenueFY2025

$18.61B3.0%

Net incomeFY2025

−$1.48B94.5%

Free cash flowFY2025

−$1.02B73.4%

Diluted EPSFY2025

$-2.9184.2%

Trends

FY2007–FY2025 · hover a year for its filing

Revenue & net incomeRevenueNet income

revenue 8.2× since FY2007 · net margin 11.9% → -7.9%

MarginsNet marginFCF margin

FY2025: net -7.9% · free cash flow -5.5% of revenue

Cash flowOperating cash flowFree cash flow

FY2025: −$462.0M operating cash − $561.0M capex = −$1.02B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity 29% (FY2008) → -24% (FY2025) · on assets -7.4%

Balance sheetLiabilitiesEquity

FY2025: $20.01B assets · $13.69B liabilities · $6.12B equity

Financial statements

Annual Quarterly

USD millions, except per-share values; share counts in millions. Hover a value for its XBRL tag and filing accession.

USD millions	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
Revenue	18,610	19,185	21,996	22,989	20,444	5,354	1,990	2,332	1,866	1,555	2,013	3,373
Net income	(1,478)	(760)	385	1,335	2,988	(122)	293	1,128	367	174	(749)	(7,224)
Diluted EPS	(2.91)	(1.58)	0.75	2.55	5.36	(0.32)	1.03	3.71	1.26	0.87	(5.13)	(47.52)
Diluted shares	508	480	511	524	558	379	284	304	293	200	154	153
Operating cash flow	(462)	105	2,267	2,423	2,785	(258)	568	479	338	303	38	359
Capital expenditures	561	695	646	943	705	525	656	296	135	7	81	284
Free cash flow	(1,023)	(590)	1,621	1,480	2,080	(783)	(88)	183	203	296	(43)	75
Cash & equivalents	57	54	198	26	48	112	353	823	978	323	285	271
Total assets	20,012	20,947	17,537	18,755	18,975	16,771	3,504	3,530	2,990	1,924	2,136	3,147
Total liabilities	13,689	14,080	9,415	10,713	13,201	13,692	3,146	3,105	3,400	3,254	3,947	4,882
Shareholders' equity	6,116	6,634	7,887	7,791	5,490	2,018	358	424	(410)	(1,464)	(1,981)	(1,431)

As reported in SEC filings; a missing tag shows “—”, never zero. Free cash flow is operating cash flow − capex. Methodology