Cleveland-cliffs Inc.

CLEVELAND-CLIFFS INC. (CLF) is currently classified as Metals & Mining within Metals & Mining (Basic Materials). Classification confidence: 0.98 (rule-based classification). Capital structure on the latest snapshot: total assets 20,115,000,000 USD, total equity 5,604,000,000, short-term debt 0, long-term debt 7,703,000,000. Net cash position is approximately -7,633,000,000 USD. Self-calculated market cap is 5,829,910,000 USD (market_price × shares_outstanding_diluted). Profitability profile: revenue 10,148,000,000, gross profit 0, operating income -262,000,000, net income -382,000,000. Return on equity ~-26.4%. Return on assets ~-7.3%. Operating-cash-flow to net-income ratio is 0.31. Risk profile from automated assessment: liquidity risk medium, dilution risk low. Flags: Net cash is negative after subtracting total debt.. Recent news context: [TRIGGER] 8-K: 8-K (sec_8k_material) on CLF — filing_type=8-K; max_severity=medium; ignored_items=['9.01']; material_items=['2.02']; all_items_found=['2.02', '9.01']; severity_per_code={'2.02': 'medium'}; contributing_watchers=sec_8k_material (source=sec_8k_material; url=0000764065-26-000097). Additional context: 8-K: filing_type=8-K; max_severity=medium; ignored_items=['9.01']; material_items=['2.02']; all_items_found=['2.02', '9.01']; severity_per_code={'2.02': 'medium'}; contributing_watchers=sec_8k_material.

Cleveland-Cliffs Inc. (CLF) has seen its asset portfolio formally cataloged, highlighting a mix of active and inactive domestic mining operations. The most material development is the confirmation of the Hibbing Taconite Mine as an operating iron ore facility with a capacity of 8,300 tonnes per tonne of product annually (ttpa). This addition underscores the company’s continued reliance on large-scale, high-capacity iron ore production within the United States to support its core business model. Alongside Hibbing, the Northshore Mine is also listed as an operating iron ore asset, contributing an additional 5,100 ttpa to the company’s active capacity. These two facilities represent significant portions of CLF’s domestic iron ore output, reinforcing its position as a major supplier in the North American market. The operational status of these mines suggests a focus on maintaining steady production levels from established infrastructure. In contrast, the Minorca Mine, another iron ore asset with a capacity of 3,050 ttpa, is currently mothballed. This status indicates a strategic pause or long-term suspension of operations at this site, potentially reflecting market conditions, maintenance needs, or a shift in production focus toward higher-capacity facilities like Hibbing and Northshore. The disparity in status between these mines highlights the selective nature of CLF’s current operational strategy. The asset list also includes the Highwall Miner 1 Mine, an operating surface coal mine, and the ArcelorMittal Burns Harbor power station, though specific capacity details for these assets are not provided. With 32 top holders identified and no prior basis for delta computation in this initial analysis, these asset confirmations provide a foundational view of CLF’s physical resources. The data reflects a diversified but iron-ore-centric asset base, with coal and power infrastructure playing supporting roles in the company’s overall operational framework.

Analysts project 6.9% upside to a mean price target of $11.74, suggesting modest valuation improvement potential.

Year-over-year net income improved by 48.6%, indicating a significant recovery in profitability trends despite recent losses.

Operating income grew 51.7% year-over-year, demonstrating strong operational leverage and improving core business performance.

Free cash flow increased by 42.3% year-over-year, showing enhanced ability to generate cash from operations.

The company maintains a current ratio of 1.95, indicating sufficient short-term liquidity to cover immediate obligations.

Debt-to-equity ratio of 1.37 is significantly higher than the cohort median of 0.12, indicating high leverage.

Revenue declined at a 6.6% CAGR from FY2023 to FY2025, reflecting a shrinking top-line trend.

Cash conversion of 0.31 is in the bottom quartile, suggesting weak ability to turn earnings into cash.

Revenue $10.15B; Operating income -$262.0M.

• ▍Revenue $10.15B
• ▍Operating income -$262.0M
• ▍Net margin -3.8%

Revenue $4.92B; Operating income -$213.0M.

• ▍Revenue $4.92B
• ▍Operating income -$213.0M
• ▍Net margin -4.8%

Revenue $18.61B; Operating income -$1.58B.

• ▍Revenue $18.61B
• ▍Operating income -$1.58B
• ▍Net margin -7.9%

Revenue $19.18B; Operating income -$756.0M.

• ▍Revenue $19.18B
• ▍Operating income -$756.0M
• ▍Net margin -3.9%

Revenue $19.18B; Operating income -$763.0M.

• ▍Revenue $19.18B
• ▍Operating income -$763.0M
• ▍Net margin -4.0%

Revenue $22.00B; Operating income $677.0M.

• ▍Revenue $22.00B
• ▍Operating income $677.0M
• ▍Net margin 1.8%

Revenue $22.00B; Operating income $677.0M.

• ▍Revenue $22.00B
• ▍Operating income $677.0M
• ▍Net margin 1.8%