What is Cleveland-Cliffs's net margin?

Cleveland-Cliffs (CLF) reported net margin of -6.2% in Q1 2026.

How has Cleveland-Cliffs's net margin changed year-over-year?

Cleveland-Cliffs's net margin decreased by 0.6% year-over-year, from -6.1% to -6.2%.

What is the long-term trend for Cleveland-Cliffs's net margin?

Over 2 years (2021 to 2025), Cleveland-Cliffs's net margin has grown at a -28.2% compound annual growth rate (CAGR), from 14.8% to -7.7%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Cleveland-Cliffs CLF Net margin

Net margin at other companies

Commercial MetalsCMC

6%+5.1pp

NucorNUE

6.8%+2.4pp

Steel DynamicsSTLD

7.2%+0.4pp

RelianceRS

5.4%-0.2pp

AlcoaAA

8.2%+1.4pp

Eagle MaterialsEXP

18.4%-2.1pp

Other financials

Income statement

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Revenue$4.9B+6.3%

Gross profit-$82.0M+79.3%

Operating income-$213.0M+60.8%

Net income-$229.0M+52.9%

EPS (diluted)-$0.42+58.4%

Balance sheet

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Cash & equivalents$45.0M-21.1%

Total debt$7.8B+2.1%

Total equity$5.8B-6.9%

Total assets$20.1B-3.5%

Cash flow

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Operating cash flow-$325.0M+7.4%

CapEx$152.0M0.0%

Free cash flow-$477.0M+5.2%

Valuation

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Market cap$7B+18.6%

Enterprise value$14.72B+8.0%

P/S0.4×+0.1×

Profitability

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Gross margin-2.9%—

Operating margin-6.6%-0.2pp

FCF margin-5.3%-0.3pp

Returns & leverage

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Return on equity-19.3%+3.1pp

Debt / equity1.3×+0.1×

Current ratio2×-0.1×

Where this comes from

Calculated from Cleveland-Cliffs’s reported figures.

net income/total revenue=-6.2%

Based on trailing twelve months.

The official record: Cleveland-Cliffs’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cleveland-Cliffs's net margin?: Cleveland-Cliffs (CLF) reported net margin of -6.2% in Q1 2026.
How has Cleveland-Cliffs's net margin changed year-over-year?: Cleveland-Cliffs's net margin decreased by 0.6% year-over-year, from -6.1% to -6.2%.
What is the long-term trend for Cleveland-Cliffs's net margin?: Over 2 years (2021 to 2025), Cleveland-Cliffs's net margin has grown at a -28.2% compound annual growth rate (CAGR), from 14.8% to -7.7%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.