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Cleveland-Cliffs CLF Steelmaking — Foreign currency translation

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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:GoodwillForeignCurrencyTranslationGainLoss.

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)SteelmakingOther BusinessesTotal
Beginning balance January 1, 2026$1,765$49$1,814
Foreign currency translation(30)(30)
Ending balance June 30, 2026$1,735$49$1,784

ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Cleveland-Cliffs's steelmaking — foreign currency translation?
Cleveland-Cliffs (CLF) reported steelmaking — foreign currency translation of -$16M in Q2 2026.
How has Cleveland-Cliffs's steelmaking — foreign currency translation changed year-over-year?
Cleveland-Cliffs's steelmaking — foreign currency translation decreased by 277.8% year-over-year, from $9M to -$16M.
What does steelmaking — foreign currency translation mean?
This metric represents the net gains or losses resulting from the translation of financial statements of foreign operations into the reporting currency. It reflects the impact of exchange rate fluctuations on the value of assets and liabilities held in foreign denominations. Monitoring this helps investors understand the sensitivity of the segment's financial performance to global currency market volatility.

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