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Cleveland-cliffs Inc. revenue

Cleveland-cliffs Inc.'s revenue was $18.61bn in fiscal 2025, down 3.0% on the year before. Since fiscal 2009 ($2.34bn) it has grown at a compound 13.8% a year. Over the last twelve months it was $20.07bn.

Revenue history

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Revenue2.34.56.65.93.93.42.01.61.92.32.05.420.423.022.019.218.620.1
Growth on the year before—+91.5%+46.4%−10.5%−33.7%−13.3%−40.3%−22.8%+20.0%+25.0%−14.7%+169.0%+281.8%+12.4%−4.3%−12.8%−3.0%—
Gross profit0.31.52.61.21.50.90.20.30.50.80.60.34.52.51.40.1−0.90.3

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Steelmaking $18.1B 97.1% ▼ 3.0%
Other Businesses $657M 3.5% ▲ 0.2%
Eliminations -$110M -0.6% —
Geography
Region Revenue Share YoY
United States $15.9B 85.4% ▼ 8.4%
Canada $2.1B 11.1% ▲ 94.1%
Other Countries $652M 3.5% ▼ 16.2%

From Cleveland-cliffs Inc.'s 10-K filed February 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Revenue against peers

Steel: the closest covered companies by revenue. Last twelve months.

CompanyRevenueGrowth3-year growth a year
Cleveland-cliffs Inc. $20.07bn 7.8% -2.9%
Steel Dynamics $22.22bn 26.0% 4.6%
Reliance, Inc. $17.37bn 24.7% 4.8%
Nucor $36.10bn 17.2% -1.2%
Commercial Metals Co $9.39bn 20.5% 2.2%
Ryerson Holding Corp $6.86bn 53.2% 9.1%

Compare with peers

Head to head: CLF vs STLDCLF vs RSCLF vs NUE

More: Steel stocks compared, Materials sector, rankings of US companies

Figures from Cleveland-cliffs Inc.'s SEC filings (10-K and 10-Q), retrieved October 21, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cleveland-cliffs Inc.