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Raw inputs
Equipment
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Chip design
Software
AI demand
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Company details
Market cap
$5.4B
P/E ratio
n/a (loss)
Div yield
0%
EPS (FY25)
-$2.91
Profit margin
-7.5%
Rev. growth
-3%
Revenue
$18.6B
Steel shipped
16.2M tons
In plain English
Cleveland-Cliffs is the largest flat-rolled steel producer in North America and the biggest supplier of steel to the US auto industry. Uniquely, it mines its own iron ore in Minnesota and Michigan and feeds it into its own blast furnaces and mills — a vertically integrated chain from the pit to the car body. Built by rolling up AK Steel, ArcelorMittal USA and Stelco, it is highly cyclical: FY2025 revenue was $18.6B and it booked a $1.4B net loss.
In simple terms
What Cleveland-Cliffs Inc. really sells
Cleveland-Cliffs is the largest flat-rolled steel producer in North America and the biggest supplier of steel to the US auto industry. Uniquely, it mines its own iron ore in Minnesota and Michigan and feeds it into its own blast furnaces and mills — a vertically integrated chain from the pit to the car body. Built by rolling up AK Steel, ArcelorMittal USA and Stelco, it is highly cyclical: FY2025 revenue was $18.6B and it booked a $1.4B net loss.
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