Cleveland-Cliffs Inc. (CLF) stock — is it a good business?

Cleveland-Cliffs Inc. (CLF) stock — is it a good business? — InspectStocks

How it makes money

Flat-rolled steel and steelmaking materials, including iron ore, scrap and hot briquetted iron97%
Steel tubing, stamped parts and tooling3%

Shares of revenue are estimates for quarter ended 2026-03-31, not figures from a filing.

Competes with

What it sells6

Automotive flat-rolled steel
Steel sheet, including high-strength and coated grades, used in vehicle bodies and other parts.
Electrical steel
Special steel used in electric motors and power transformers, including grain-oriented and non-oriented grades.
Hot-rolled steel, cold-rolled steel and plate
Steel products used in manufacturing, construction, machinery, railcars and other industrial goods.

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Iron ore pellets, hot briquetted iron, scrap, coke and coal
Raw materials and processed materials used to make steel; some are also sold to other steel producers.
Steel tubing
Carbon and stainless steel tubes sold for industrial and other uses.
Stamped components and tooling
Steel parts shaped for customers, along with tools and dies used to make those parts.

Who buys it4

Automakers buy steel for vehicles, often through annual or multi-year fixed-price contracts.
Manufacturers buy steel for products such as appliances, heating and cooling equipment, transformers, machinery, railcars and storage tanks.
Steel service centers and converters buy steel and process or fabricate it for their own customers; purchases are often at spot prices or linked to published steel indexes.
Other steel producers buy materials and products such as iron ore pellets, scrap, hot briquetted iron, coal, coke and steel slabs.

What it stands on, and what could break it

What the business leans on

1Revenue and cash flow depend on steel, scrap and iron ore prices, which can change with supply, demand and global production.
2Demand for automotive steel depends in part on vehicle production and automakers’ choices about steel and substitute materials.
3Steelmaking uses large amounts of natural gas, electricity and other energy, much of which Cleveland-Cliffs buys from outside suppliers.
4The business depends on trade rules and on moving raw materials and finished steel between mines, plants and customers.

What could go wrong

1Changes in steel, scrap and iron ore prices can affect sales revenue, production costs and cash flow.
2A decline or shift in North American vehicle production, or automakers choosing other materials, could reduce demand for the company’s automotive steel.
3Global steel overproduction, imports sold at low prices, or changes in trade tariffs and rules could pressure domestic steel prices and sales.

Full financial statements →

About Cleveland-Cliffs Inc.

Cleveland-Cliffs makes steel from iron ore, scrap and other materials, and processes it into products such as automotive sheet, coated steel and electrical steel. It also makes steel tubing, stamped parts and tools. Its mines, steel mills and finishing plants are mainly in the United States and Canada.

Head office: Cleveland, Ohio
Founded: 1847
Employees: approximately 25,000 (2025-12-31, high)
Listed on: NYSE
Financial year ends: December 31

Built from Cleveland-Cliffs Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Keep exploring

The themes Cleveland-Cliffs is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Steel

Graded A or B and worth $2B or more: A first, then the largest.

All 21 graded companies in its industry

Grade rose recently in Materials

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

All grade rises