Cleveland-Cliffs Inc. (CLF) Earnings History
Net Loss37 years of earnings data (1989–2025) · Currently unprofitable on a TTM basis
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Cleveland-Cliffs Inc. (CLF) Earnings Overview
As of June 21, 2026, Cleveland-Cliffs Inc. (CLF) reported trailing twelve-month net income of -$1.48B, reflecting -91.1% year-over-year growth. The company earned $-3.00 per diluted share over the past four quarters, with a net profit margin of -7.9%.
Looking at the long-term picture, CLF's historical earnings data spans multiple years. The company achieved its highest annual net income of $2.99B in fiscal 2021.
Cleveland-Cliffs Inc. is currently reporting a net loss, though operating performance should be evaluated in the context of growth investments and industry dynamics View revenue history →
Compared to peers including NUE ($2.33B net income, 5.4% margin), STLD ($1.37B net income, 6.5% margin), CMC ($438M net income, 1.1% margin), CLF has room to improve margins relative to the peer group. Compare CLF vs NUE →
CLF Earnings vs Peers
Earnings metrics vs comparable public companies
CLF Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | -$1.48B | -96.0% | -$1.40B | $-3.00 | -7.9% | -7.5% |
| 2024 | -$754M | -289.0% | -$756M | $-1.57 | -3.9% | -3.9% |
| 2023 | $399M | -70.1% | $677M | $0.78 | 1.8% | 3.1% |
| 2022 | $1.33B | -55.3% | $1.94B | $2.55 | 5.8% | 8.4% |
| 2021 | $2.99B | +2549.2% | $4.01B | $5.35 | 14.6% | 19.6% |
| 2020 | -$122M | -141.7% | -$142M | $-0.32 | -2.3% | -2.7% |
| 2019 | $293M | -74.0% | $429M | $1.03 | 14.7% | 21.6% |
| 2018 | $1.13B | +200.9% | $673M | $3.71 | 48.4% | 28.9% |
| 2017 | $375M | +115.3% | $432M | $1.28 | 16.1% | 18.5% |
| 2016 | $174M | +123.2% | $241M | $0.87 | 8.3% | 11.4% |
| 2015 | -$749M | +89.6% | $151M | $-4.88 | -37.2% | 7.5% |
| 2014 | -$7.19B | -1838.6% | -$9.43B | $-46.96 | -155.5% | -203.9% |
| 2013 | $414M | +146.0% | $671M | $2.37 | 7.3% | 11.8% |
| 2012 | -$899M | -155.5% | -$309M | $-6.32 | -15.3% | -5.3% |
| 2011 | $1.62B | +58.8% | $2.33B | $11.48 | 23.8% | 34.3% |
| 2010 | $1.02B | +397.3% | $1.26B | $7.49 | 21.8% | 27.0% |
| 2009 | $205M | -60.2% | $230M | $1.63 | 8.8% | 9.8% |
| 2008 | $516M | +91.0% | $939M | $4.76 | 14.3% | 26.0% |
| 2007 | $270M | -3.6% | $378M | $2.57 | 11.9% | 16.6% |
| 2006 | $280M | +0.9% | $362M | $2.60 | 14.6% | 18.8% |
| 2005 | $278M | -14.2% | $342M | $2.50 | 16.0% | 19.7% |
| 2004 | $324M | +1089.6% | -$29M | $2.95 | 26.8% | -2.4% |
| 2003 | -$33M | +82.6% | -$2M | $-0.40 | -3.8% | -0.3% |
| 2002 | -$188M | -722.3% | -$8M | $-2.33 | -31.5% | -1.3% |
| 2001 | -$23M | -226.5% | -$92M | $-0.29 | -6.9% | -28.0% |
| 2000 | $18M | +277.1% | $31M | $0.22 | 4.2% | 7.3% |
| 1999 | $5M | -91.6% | $26M | $0.05 | 1.3% | 7.3% |
| 1998 | $57M | +4.6% | $77M | $0.63 | 11.6% | 15.6% |
| 1997 | $55M | -10.0% | $67M | $0.60 | 12.5% | 15.3% |
| 1996 | $61M | +5.5% | $94M | $0.65 | 12.1% | 18.6% |
| 1995 | $58M | +35.0% | $89M | $0.60 | 12.5% | 19.4% |
| 1994 | $43M | -21.6% | $73M | $0.44 | 11.0% | 18.8% |
| 1993 | $55M | +791.1% | $88M | $0.57 | 15.3% | 24.7% |
| 1992 | -$8M | -114.7% | $53M | $-0.08 | -2.5% | 17.1% |
| 1991 | $54M | -27.1% | $42M | $0.56 | 17.0% | 13.4% |
| 1990 | $74M | +21.8% | $30M | $0.78 | 23.8% | 9.7% |
| 1989 | $61M | - | $93M | $0.64 | 17.3% | 26.4% |
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Intrinsic Valuation
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CLF — Frequently Asked Questions
Quick answers to the most common questions about buying CLF stock.
What is CLF earnings per share (EPS)?
CLF trailing twelve-month (TTM) diluted EPS is $-3.00, reflecting -91.1% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 1989 to 2025 is available in the table on this page.
What is Cleveland-Cliffs Inc.'s net income?
Cleveland-Cliffs Inc. (CLF) trailing twelve-month net income is $-1.5B as of 2025. Earnings declined -91.1% year-over-year.
Is CLF profitable?
CLF is not currently profitable on a TTM basis, reporting a net loss of $-1.5B. Net margin is -7.9%. Investors should monitor for a return to profitability.
What is CLF's earnings growth rate?
CLF compound annual EPS growth rates (CAGR): 1-Year: N/A, 3-Year: N/A, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1989 to 2025.
What are CLF's profit margins?
Cleveland-Cliffs Inc. net profit margin is -7.9%, operating margin is -7.5%, and gross margin is -4.6%. Below-average margins reflect competitive or cost pressures. Return on Equity is -22.4%.
Is CLF growing earnings?
CLF earnings are declining — EPS fell -91.1% year-over-year. TTM net income dropped to $-1.5B. This contrasts with the 5-year CAGR of N/A.
What was CLF's best earnings year?
Cleveland-Cliffs Inc.'s highest annual net income on record is $3.0B, achieved in fiscal year 2021. Earnings history on this page spans 1989 to 2025 and includes all annual and quarterly figures.
What were CLF's earnings last quarter?
CLF's most recent reported quarter was Q4 2025. Net income was $-249M with diluted EPS of $-0.49. For a full breakdown of all quarters, see the quarterly earnings table on this page.