Cleveland-Cliffs (CLF) Operating Margin (2009 - 2026)
Cleveland-Cliffs' (CLF) quarterly Operating Margin came in at 0.94% in Q2 2026, up 922.0% year-over-year from 0.09% in Q2 2025, and up 78.33% quarter-over-quarter from 4.33% in Q1 2026.
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Cleveland-Cliffs (CLF) Operating Margin (2009 - 2026) Analysis & Trends
Cleveland-Cliffs (CLF) has reported Operating Margin for 18 consecutive years, with 0.94% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Margin rose 922.0% year-over-year to 0.94% in Q2 2026; TTM through Jun 2026 was 4.15%, a 544.0% increase from a year earlier, with the FY2025 full-year figure at 8.48%, down 451.0% from the prior year.
- Operating Margin was 0.94% for Q2 2026 at Cleveland-Cliffs, up from 4.33% in the prior quarter.
- Over five years, Operating Margin peaked at 18.37% in Q1 2022 and troughed at 11.73% in Q1 2025.
- A 5-year average of 0.77% and a median of 1.62% in 2026 frame the typical range for Operating Margin.
- The widest YoY moves for Operating Margin: up 1400 bps in 2022, down 73498 bps in 2022.
- Over 5 years, Operating Margin stood at 3.61% in 2022, then surged by 36 bps to 2.31% in 2023, then plunged by 366 bps to 10.75% in 2024, then increased by 29 bps to 7.67% in 2025, then surged by 88 bps to 0.94% in 2026.
- The last three Operating Margin figures came in at 0.94% (Q2 2026), 4.33% (Q1 2026), and 7.67% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ternium | 116.34 Bn | 110.88 Bn | 941.02 Mn | 12.17% |
| 2 | Nucor | 59.22 Bn | 57.68 Bn | 2.03 Bn | 15.67% |
| 3 | Steel Dynamics | 34.76 Bn | 33.98 Bn | 958.97 Mn | 11.50% |
| 4 | Gerdau | 9.98 Bn | 8.94 Bn | 558.98 Mn | 17.67% |
| 5 | Commercial Metals | 7.78 Bn | 7.22 Bn | 455.14 Mn | -74.07% |
| 6 | Cleveland-Cliffs | 7.13 Bn | 7.27 Bn | 132.00 Mn | -0.94% |
| 7 | Posco Holdings | 4.74 Bn | -4.93 Bn | 1.11 Bn | 4.25% |
| 8 | GRUPO SIMEC, S.A.B. de C.V | 4.41 Bn | 2.86 Bn | - | - |
| 9 | National Steel | 1.62 Bn | -1.21 Bn | 579.08 Mn | 3.07% |
| 10 | SunCoke Energy | 876.76 Mn | 861.96 Mn | 100.40 Mn | 6.10% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -0.94% |
| Mar 31, 2026 | -4.33% |
| Dec 31, 2025 | -7.67% |
| Sep 30, 2025 | -4.31% |
| Jun 30, 2025 | -10.15% |
| Mar 31, 2025 | -11.73% |
| Dec 31, 2024 | -10.75% |
| Sep 30, 2024 | -5.71% |
| Jun 30, 2024 | 0.12% |
| Mar 31, 2024 | -0.73% |
| Dec 31, 2023 | -2.31% |
| Sep 30, 2023 | 5.80% |
| Jun 30, 2023 | 8.07% |
| Mar 31, 2023 | -0.59% |
| Dec 31, 2022 | -3.61% |
| Sep 30, 2022 | 3.31% |
| Jun 30, 2022 | 13.26% |
| Mar 31, 2022 | 18.37% |
| Dec 31, 2021 | 731.37% |
| Sep 30, 2021 | 27.47% |