Cleveland-Cliffs (CLF) Operating Expenses (2009 - 2026)
Cleveland-Cliffs' Operating Expenses was $5.28 billion in Q2 2026, down 2.9% from $5.44 billion a year earlier but up 2.7% from the prior quarter.
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Analysis
Cleveland-Cliffs (CLF) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Cleveland-Cliffs' Operating Expenses was $19.99 billion through Jun 30, 2026, down 1.2% year-over-year; for FY2025, it was $20.19 billion, up 1.2% from FY2024.
- Operating Expenses shows a five-year compound annual growth rate of 29.7% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $19.95 billion in FY2024 (-6.5%), $21.34 billion in FY2023 (+1.4%), $21.05 billion in FY2022 (+28.1%) and $16.43 billion in FY2021 (+199.0%).
- Quarterly Operating Expenses has moved between $4.23 billion (Q4 2021) and $5.5 billion (Q2 2023) over five years.
- Compared with a year earlier, Operating Expenses has declined for three straight quarters, with an average decline of 2.0% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q3 2021 (growth of 170.8%); the worst was Q3 2024 (a decline of 8.5%).
- Per Business Quant data, CLF's Operating Expenses in the three quarters before Q2 2026 was $5.14 billion (Q1 2026), $4.64 billion (Q4 2025) and $4.94 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 182.38 Bn | 151.41 Bn | - | - |
| 2 | Southern Copper | 168.98 Bn | 147.76 Bn | 2.90 Bn | 1.67 Bn |
| 3 | Rio Tinto | 143.06 Bn | 103.56 Bn | - | - |
| 4 | Newmont | 125.35 Bn | 93.35 Bn | 4.03 Bn | 3.02 Bn |
| 5 | Freeport-Mcmoran | 99.16 Bn | 83.21 Bn | 2.19 Bn | 5.03 Bn |
| 6 | Agnico Eagle Mines | 94.43 Bn | 84.06 Bn | 2.43 Bn | 119.48 Mn |
| 7 | Barrick Mining | 69.38 Bn | 44.58 Bn | 2.90 Bn | 165.00 Mn |
| 8 | Nucor | 59.50 Bn | 48.88 Bn | 2.03 Bn | 405.00 Mn |
| 9 | ArcelorMittal | 48.22 Bn | 27.24 Bn | - | -780.00 Mn |
| 10 | Cleveland-Cliffs | 7.75 Bn | 7.51 Bn | 132.00 Mn | 5.28 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.28 Bn |
| Mar 31, 2026 | 5.14 Bn |
| Dec 31, 2025 | 4.64 Bn |
| Sep 30, 2025 | 4.94 Bn |
| Jun 30, 2025 | 5.44 Bn |
| Mar 31, 2025 | 5.17 Bn |
| Dec 31, 2024 | 4.79 Bn |
| Sep 30, 2024 | 4.83 Bn |
| Jun 30, 2024 | 5.09 Bn |
| Mar 31, 2024 | 5.24 Bn |
| Dec 31, 2023 | 5.23 Bn |
| Sep 30, 2023 | 5.28 Bn |
| Jun 30, 2023 | 5.50 Bn |
| Mar 31, 2023 | 5.33 Bn |
| Dec 31, 2022 | 5.23 Bn |
| Sep 30, 2022 | 5.47 Bn |
| Jun 30, 2022 | 5.50 Bn |
| Mar 31, 2022 | 4.86 Bn |
| Dec 31, 2021 | 4.23 Bn |
| Sep 30, 2021 | 4.36 Bn |
API Access
Cleveland-Cliffs Operating Expenses 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=operating-expenses&ticker=CLF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=CLF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();