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Cleveland-Cliffs CLF Debt-to-equity

Debt-to-equity at other companies

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NucorNUE
0.0×
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Steel DynamicsSTLD
0.4×0.0×
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1.1×+0.4×
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MetallusMTUS
0.0×
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0.3×0.0×
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0.3×+0.1×

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
Current ratio1.9×-0.2×

Where this comes from

Calculated from Cleveland-Cliffs’s reported figures.

Based on the most recent quarter.

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

Filed
Jul 23, 2026, 4:08 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000764065-26-000100

FAQ

What is Cleveland-Cliffs's debt-to-equity?
Cleveland-Cliffs (CLF) reported debt-to-equity of 1.4× in Q2 2026.
How has Cleveland-Cliffs's debt-to-equity changed year-over-year?
Cleveland-Cliffs's debt-to-equity increased by 3.5% year-over-year, from 1.3× to 1.4×.
What is the long-term trend for Cleveland-Cliffs's debt-to-equity?
Over 5 years (2020 to 2025), Cleveland-Cliffs's debt-to-equity has grown at a -15.3% compound annual growth rate (CAGR), from 3× to 1.3×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

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