Cleveland-Cliffs (CLF) FCF Margin (2009 - 2026)
Cleveland-Cliffs' FCF Margin was 1.28% in Q3 2026, up 7.62 percentage points from -6.34% a year earlier but down 0.11 percentage points from the prior quarter.
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Analysis
Cleveland-Cliffs (CLF) FCF Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Cleveland-Cliffs' FCF Margin was -2.42% through Sep 30, 2026, up 5.89 percentage points year-over-year; for FY2025, it came in at -5.50%, down 2.42 percentage points from FY2024.
- FCF Margin shows a five-year change of +9.13 percentage points (FY2020 to FY2025).
- In earlier years, FCF Margin was -3.08% in FY2024 (-10.44 pp), 7.37% in FY2023 (+0.93 pp), 6.44% in FY2022 (-3.74 pp) and 10.17% in FY2021 (+24.80 pp).
- Quarterly FCF Margin has moved between -15.65% (Q4 2024) and 16.93% (Q4 2021) over five years.
- Compared with a year earlier, FCF Margin has increased for four straight quarters, with an average year-over-year change of -2.66 percentage points over the last eight quarters.
- The best year-over-year quarter for FCF Margin over five years was Q4 2021 (a gain of 32.58 percentage points); the worst was Q4 2024 (a drop of 25.18 percentage points).
- Per Business Quant data, CLF's FCF Margin in the three quarters before Q3 2026 was 1.40% (Q2 2026), -9.69% (Q1 2026) and -3.55% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 166.15 Bn | 128.95 Bn | - | - |
| 2 | Southern Copper | 145.61 Bn | 120.34 Bn | 3.10 Bn | 36.38% |
| 3 | Rio Tinto | 138.54 Bn | 138.54 Bn | - | - |
| 4 | Newmont | 127.15 Bn | 92.29 Bn | 4.22 Bn | 30.05% |
| 5 | Ternium | 100.63 Bn | 93.91 Bn | - | - |
| 6 | Agnico Eagle Mines | 97.48 Bn | 92.69 Bn | - | - |
| 7 | Freeport-Mcmoran | 88.12 Bn | 72.16 Bn | 2.19 Bn | 13.43% |
| 8 | Barrick Mining | 69.35 Bn | 47.84 Bn | 2.90 Bn | 9.73% |
| 9 | Nucor | 59.10 Bn | 48.48 Bn | 2.03 Bn | 7.97% |
| 10 | Cleveland-Cliffs | 7.45 Bn | 7.20 Bn | 465.00 Mn | 1.28% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 1.28% |
| Jun 30, 2026 | 1.40% |
| Mar 31, 2026 | -9.69% |
| Dec 31, 2025 | -3.55% |
| Sep 30, 2025 | -6.34% |
| Jun 30, 2025 | -1.36% |
| Mar 31, 2025 | -10.87% |
| Dec 31, 2024 | -15.65% |
| Sep 30, 2024 | -5.14% |
| Jun 30, 2024 | 7.11% |
| Mar 31, 2024 | -0.77% |
| Dec 31, 2023 | 9.53% |
| Sep 30, 2023 | 10.79% |
| Jun 30, 2023 | 12.63% |
| Mar 31, 2023 | -4.29% |
| Dec 31, 2022 | 5.19% |
| Sep 30, 2022 | 5.09% |
| Jun 30, 2022 | 9.99% |
| Mar 31, 2022 | 4.99% |
| Dec 31, 2021 | 16.93% |
API Access
Cleveland-Cliffs FCF Margin 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=fcf-margin&ticker=CLF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=CLF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();