Cleveland-Cliffs (CLF) Shares Outstanding (Diluted) (2009 - 2026)
Cleveland-Cliffs' Weighted Average Shares Outstanding (Diluted) was 574 million in Q3 2026, up 16.0% from 495 million a year earlier and up 0.5% from the prior quarter.
Powered by 
Analysis
Cleveland-Cliffs (CLF) Shares Outstanding (Diluted) (2009 - 2026) Analysis & Trends
For FY2025, Weighted Average Shares Outstanding (Diluted) at Cleveland-Cliffs came in at 508 million, up 5.8% from FY2024.
- Weighted Average Shares Outstanding (Diluted) shows a five-year compound annual growth rate of 6.0% (FY2020 to FY2025).
- In earlier years, Weighted Average Shares Outstanding (Diluted) was 480 million in FY2024 (-6.1%), 511 million in FY2023 (-2.5%), 524 million in FY2022 (-6.1%) and 558 million in FY2021 (+47.2%).
- The Q3 2026 figure marks the highest quarterly Weighted Average Shares Outstanding (Diluted) since Q2 2021.
- Compared with a year earlier, Weighted Average Shares Outstanding (Diluted) has increased for seven straight quarters, with growth averaging 7.1% over the last eight quarters.
- The best year-over-year quarter for Weighted Average Shares Outstanding (Diluted) over five years was Q4 2021 (growth of 47.2%); the worst was Q2 2022 (a decline of 10.1%).
- Per Business Quant data, CLF's Weighted Average Shares Outstanding (Diluted) in the three quarters before Q3 2026 was 571 million (Q2 2026), 570 million (Q1 2026) and 508 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Nucor | 175.24 Bn | 165.01 Bn | 2.33 Bn | 547.68 Mn |
| 2 | Rio Tinto | 166.15 Bn | 128.95 Bn | - | 1.64 Bn |
| 3 | Southern Copper | 143.83 Bn | 118.64 Bn | 3.10 Bn | 838.10 Mn |
| 4 | Rio Tinto | 137.31 Bn | 104.37 Bn | - | 1.64 Bn |
| 5 | Newmont | 124.66 Bn | 89.98 Bn | 4.22 Bn | 1.05 Bn |
| 6 | Ternium | 102.52 Bn | 75.29 Bn | 1.04 Bn | - |
| 7 | Agnico Eagle Mines | 95.19 Bn | 82.13 Bn | 2.15 Bn | 503.43 Mn |
| 8 | Freeport-Mcmoran | 86.53 Bn | 83.18 Bn | 2.55 Bn | 1.44 Bn |
| 9 | Barrick Mining | 66.50 Bn | 50.91 Bn | 2.71 Bn | 1.71 Bn |
| 10 | Cleveland-Cliffs | 7.33 Bn | 7.36 Bn | 465.00 Mn | 574.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 574.00 Mn |
| Jun 30, 2026 | 571.00 Mn |
| Mar 31, 2026 | 570.00 Mn |
| Dec 31, 2025 | 508.00 Mn |
| Sep 30, 2025 | 495.00 Mn |
| Jun 30, 2025 | 495.00 Mn |
| Mar 31, 2025 | 495.00 Mn |
| Dec 31, 2024 | 480.00 Mn |
| Sep 30, 2024 | 468.00 Mn |
| Jun 30, 2024 | 474.00 Mn |
| Mar 31, 2024 | 492.00 Mn |
| Dec 31, 2023 | 511.00 Mn |
| Sep 30, 2023 | 509.00 Mn |
| Jun 30, 2023 | 514.00 Mn |
| Mar 31, 2023 | 515.00 Mn |
| Dec 31, 2022 | 524.00 Mn |
| Sep 30, 2022 | 519.00 Mn |
| Jun 30, 2022 | 526.00 Mn |
| Mar 31, 2022 | 532.00 Mn |
| Dec 31, 2021 | 558.00 Mn |
API Access
Cleveland-Cliffs Shares Outstanding (Diluted) 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=shares-outstanding-diluted&ticker=CLF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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=shares-outstanding-diluted&ticker=CLF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();