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Cleveland-Cliffs CLF Cold-rolled steel — Revenue

Other product segments

Hot-rolled steel
$1.54B+15.5%
Coated steel
$1.53B+10.1%
Plate
$1.08B-3.6%
Other
$701M+20.9%
Stainless and electrical steel
$525M+21.0%
Plate steel
$253M-8.0%
Other steel products
$108M-56.3%

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Other financials

Income statement

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Revenue$5.2B+5.9%
Gross profit$132.0M+162%
Operating income-$49.0M+90.2%
Net income-$134.0M+71.7%
EPS (diluted)-$0.25+74.5%

Balance sheet

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Cash & equivalents$70.0M+14.8%
Total debt$7.7B-0.3%
Total equity$5.6B-3.7%
Total assets$20.1B-1.7%

Cash flow

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Operating cash flow-$325.0M+7.4%
CapEx$157.0M+40.2%
Free cash flow-$477.0M+5.2%

Valuation

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Market cap$7.22B+55.7%
Enterprise value$14.85B+20.7%
P/S0.4×+0.1×

Profitability

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Gross margin-1.1%
Operating margin-4.2%-1.5pp
Net margin-4.3%-1.5pp
FCF margin-5.3%-0.3pp

Returns & leverage

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Return on equity-14.6%-4.3pp
Debt / equity1.4×0.0×
Current ratio1.9×-0.2×

Where this comes from

Reported directly by Cleveland-Cliffs in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

The source filing: Cleveland-Cliffs’s 10-Q, filed July 23, 2026.

Filed
Jul 23, 2026, 4:08 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000764065-26-000100
(In millions)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Steelmaking
Hot-rolled steel$1,539$1,332$2,949$2,498
Cold-rolled steel6606451,2971,236
Coated steel1,5321,3922,9632,753
Stainless and electrical steel525434990878
Plate steel253275507522
Other steel products16276124523
Other527417979828

ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Cleveland-Cliffs's cold-rolled steel — revenue?
Cleveland-Cliffs (CLF) reported cold-rolled steel — revenue of $660M in Q2 2026.
How has Cleveland-Cliffs's cold-rolled steel — revenue changed year-over-year?
Cleveland-Cliffs's cold-rolled steel — revenue increased by 2.3% year-over-year, from $645M to $660M.
What is the long-term trend for Cleveland-Cliffs's cold-rolled steel — revenue?
Over 4 years (2021 to 2025), Cleveland-Cliffs's cold-rolled steel — revenue has grown at a -6.7% compound annual growth rate (CAGR), from $3.17B to $2.4B.
What does cold-rolled steel — revenue mean?
This metric represents the total gross revenue generated from the sale of cold-rolled steel products to external customers. It reflects the market demand and pricing power for high-precision, finished steel products used in automotive and industrial applications. Tracking this revenue stream helps investors assess the company's performance in value-added steel segments relative to broader commodity steel cycles.

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