Cleveland-Cliffs (CLF) Net Margin (2009 - 2026)
Cleveland-Cliffs' Net Margin was 2.71% in Q3 2026, up 8.01 percentage points from -5.30% a year earlier and up 5.48 percentage points from the prior quarter.
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Analysis
Cleveland-Cliffs (CLF) Net Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Cleveland-Cliffs' Net Margin was -2.36% through Sep 30, 2026, up 6.68 percentage points year-over-year; for FY2025, it came in at -7.94%, down 3.98 percentage points from FY2024.
- Net Margin has now declined for four consecutive years, with a five-year change of -5.66 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was -3.96% in FY2024 (-5.71 pp), 1.75% in FY2023 (-4.06 pp), 5.81% in FY2022 (-8.81 pp) and 14.62% in FY2021 (+16.89 pp).
- The Q3 2026 figure marks the highest quarterly Net Margin since Q3 2023.
- Compared with a year earlier, Net Margin has increased for five straight quarters, with an average year-over-year change of -0.08 percentage points over the last eight quarters.
- The best year-over-year quarter for Net Margin over five years was Q4 2021 (a gain of 13.87 percentage points); the worst was Q4 2022 (a drop of 20.95 percentage points).
- Per Business Quant data, CLF's Net Margin in the three quarters before Q3 2026 was -2.77% (Q2 2026), -4.82% (Q1 2026) and -5.63% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 166.15 Bn | 128.95 Bn | - | - |
| 2 | Southern Copper | 145.61 Bn | 120.34 Bn | 3.10 Bn | 38.36% |
| 3 | Rio Tinto | 138.54 Bn | 138.54 Bn | - | - |
| 4 | Newmont | 127.15 Bn | 92.29 Bn | 4.22 Bn | 38.90% |
| 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 | 14.00% |
| 8 | Barrick Mining | 69.35 Bn | 47.84 Bn | 2.90 Bn | 23.00% |
| 9 | Nucor | 59.10 Bn | 48.48 Bn | 2.03 Bn | 11.12% |
| 10 | Cleveland-Cliffs | 7.45 Bn | 7.20 Bn | 465.00 Mn | 2.71% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.71% |
| Jun 30, 2026 | -2.77% |
| Mar 31, 2026 | -4.82% |
| Dec 31, 2025 | -5.63% |
| Sep 30, 2025 | -5.30% |
| Jun 30, 2025 | -9.85% |
| Mar 31, 2025 | -10.76% |
| Dec 31, 2024 | -10.34% |
| Sep 30, 2024 | -5.34% |
| Jun 30, 2024 | 0.04% |
| Mar 31, 2024 | -1.29% |
| Dec 31, 2023 | -3.31% |
| Sep 30, 2023 | 4.71% |
| Jun 30, 2023 | 5.80% |
| Mar 31, 2023 | -1.08% |
| Dec 31, 2022 | -4.24% |
| Sep 30, 2022 | 2.69% |
| Jun 30, 2022 | 9.41% |
| Mar 31, 2022 | 13.45% |
| Dec 31, 2021 | 16.70% |
API Access
Cleveland-Cliffs Net 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=net-margin&ticker=CLF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=CLF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();