Cleveland-Cliffs (CLF) Cost of Revenue (2009 - 2026)
Cleveland-Cliffs (CLF) recorded Cost of Revenue of $5.09 billion in Q2 2026, down 1.0% from $5.15 billion a year earlier but up 1.8% from the prior quarter.
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Analysis
Cleveland-Cliffs (CLF) Cost of Revenue (2009 - 2026) Analysis & Trends
On a TTM basis, Cleveland-Cliffs' Cost of Revenue came in at $19.4 billion as of Jun 30, 2026, down 0.2% year-over-year; for FY2025, it came in at $19.47 billion, up 1.8% from FY2024.
- Annual Cost of Revenue has a five-year compound annual growth rate of 30.7% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $19.12 billion in FY2024 (-7.3%), $20.62 billion in FY2023 (+0.7%), $20.47 billion in FY2022 (+28.7%) and $15.91 billion in FY2021 (+211.8%).
- Quarterly Cost of Revenue has ranged from $4.07 billion in Q4 2021 to $5.36 billion in Q2 2022 over the past five years.
- On a year-over-year basis, Cost of Revenue has declined for three consecutive quarters, with an average decline of 1.3% over the last eight quarters.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 177.3% in Q3 2021, against a decline of 8.8% in Q3 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $5 billion (Q1 2026), $4.52 billion (Q4 2025) and $4.78 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 193.68 Bn | 159.81 Bn | - | - |
| 2 | Southern Copper | 171.36 Bn | 150.22 Bn | 2.90 Bn | 1.39 Bn |
| 3 | Newmont | 121.76 Bn | 89.94 Bn | 4.03 Bn | 2.09 Bn |
| 4 | Ternium | 113.51 Bn | 78.56 Bn | 941.02 Mn | 3.40 Bn |
| 5 | Freeport-Mcmoran | 103.45 Bn | 99.60 Bn | 2.19 Bn | 4.84 Bn |
| 6 | Agnico Eagle Mines | 91.92 Bn | 91.92 Bn | 2.43 Bn | 953.76 Mn |
| 7 | Barrick Mining | 67.42 Bn | 52.16 Bn | 2.90 Bn | 2.40 Bn |
| 8 | Nucor | 54.54 Bn | 45.08 Bn | 2.03 Bn | 8.36 Bn |
| 9 | ArcelorMittal | 49.09 Bn | 30.12 Bn | - | - |
| 10 | Cleveland-Cliffs | 6.46 Bn | 6.43 Bn | 132.00 Mn | 5.09 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.09 Bn |
| Mar 31, 2026 | 5.00 Bn |
| Dec 31, 2025 | 4.52 Bn |
| Sep 30, 2025 | 4.78 Bn |
| Jun 30, 2025 | 5.15 Bn |
| Mar 31, 2025 | 5.03 Bn |
| Dec 31, 2024 | 4.60 Bn |
| Sep 30, 2024 | 4.68 Bn |
| Jun 30, 2024 | 4.93 Bn |
| Mar 31, 2024 | 4.91 Bn |
| Dec 31, 2023 | 4.96 Bn |
| Sep 30, 2023 | 5.13 Bn |
| Jun 30, 2023 | 5.34 Bn |
| Mar 31, 2023 | 5.20 Bn |
| Dec 31, 2022 | 5.10 Bn |
| Sep 30, 2022 | 5.31 Bn |
| Jun 30, 2022 | 5.36 Bn |
| Mar 31, 2022 | 4.71 Bn |
| Dec 31, 2021 | 4.07 Bn |
| Sep 30, 2021 | 4.23 Bn |
API Access
Cleveland-Cliffs Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=CLF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "CLF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=CLF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();