Cleveland-Cliffs Inc.

NYSE•CLF

CEO: Mr. C. Lourenco Goncalves

Sector: Basic Materials

Industry: Steel

Listing Date: 1987-11-05

Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, galvalume, enameling, and advanced high-strength steel products; austenitic, martensitic, duplex, precipitation hardening, and ferritic stainless steel products; plates; and grain oriented and non-oriented electrical steel products, as well as slab, scrap, iron ore, coal, and coke. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products. Further, it owns five iron ore mines in Minnesota and Michigan. The company serves automotive, infrastructure and manufacturing, distributors and converters, and steel producers. The company was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. Cleveland-Cliffs Inc. was founded in 1847 and is headquartered in Cleveland, Ohio.

Contact Information

200 Public Square, Suite 3300, Cleveland, OH, 44114-2315, United States

216-694-5700

www.clevelandcliffs.com

Market Cap

$4.74B

P/E (TTM)

-2.7

19.5

Dividend Yield

52W High

$16.70

52W Low

$5.63

52W Range

24%

Rank47Top 61.9%

3.4

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 3.4 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$4.31B+0.00%

4-Quarter Trend

EPS

-$0.49+0.00%

4-Quarter Trend

FCF

-$153.00M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Decline, Shipments Up Consolidated Revenues $18.61B USD, down 3%; Shipments up 4% to 16.23M tons, driven by product mix changes.

Adjusted EBITDA Plummets Consolidated Adjusted EBITDA $37M USD, sharply down from $773M in 2024 due to lower average selling prices per ton.

Record Safety Performance Achieved Achieved lowest Total Recordable Incident Rate of 0.8 per 200K hours, representing 43% decrease since 2021.

Unprofitable Slab Contract Expired Five-year unprofitable slab supply contract expired December 2025, allowing shift to higher margin product sales mix.

Risk Factors

Commodity Price Volatility Risk Steel, scrap, and iron ore price swings directly impact revenue stability and cash flow generation ability across operations.

Automotive Market Concentration Significant sales concentration in cyclical automotive sector risks revenue decline if light vehicle production slows unexpectedly.

Operational Rationalization Costs Indefinite idling of six facilities incurred $130M in restructuring and asset impairment charges during the 2025 fiscal year.

Regulatory and Trade Uncertainty Trade policy shifts, tariffs, and evolving environmental regulations create uncertainty limiting long-term operational cost quantification.

Outlook

Optimize Footprint Streamlining Decisions made to idle/close six operations to streamline efficiency with minimal expected impact to overall flat-rolled steel output.

Explore POSCO Strategic Partnership MOU signed with POSCO to leverage domestic operations; potential transaction expected to be highly accretive to shareholders.

Improve Financial Flexibility Intent to utilize healthy free cash flow to deleverage balance sheet and extend senior note maturities beyond 2029.

Capture Stelco Acquisition Synergies Realizing identified synergy opportunities across asset optimization, procurement savings, and duplicative corporate cost reductions.

Peer Comparison

Revenue (TTM)

CLF

$18.61B

-3.0%

$15.58B

-11.7%

GGB

$12.50B

+4.2%

Gross Margin (Latest Quarter)

85.5%

-13.7pp

BTG

52.3%

+0.1pp

50.6%

+15.2pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
AG	$9.91B	54.2	6.8%	6.7%
EMN	$7.98B	16.4	8.1%	34.2%
TX	$7.64B	17.7	3.5%	11.0%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-2.3%

Flat Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

25%

Cash Flow Needs Attention

Deep Research

Next earnings:Apr 17, 2026

EPS:-$0.34

Revenue:$4.84B

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data