Cleveland-Cliffs (CLF) revenue breakdown
By segment, Steelmaking is the largest at 96% of fiscal 2025 revenue, growing 29% a year over 5 years.
By product, Product is the largest at 93% of fiscal 2019 revenue, growing 6% a year over 2 years.
Revenue by segment
Fiscal years, as Cleveland-Cliffs reports them in its 10-K filings; fiscal 2025 total $18.7B.
| Segments | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|
| Steelmaking | $5.0B | $19.9B | $22.5B | $21.4B | $18.6B | $18.1B | 96% |
| Other Businesses | $389M | $543M | $606M | $665M | $656M | $657M | 4% |
| Eliminations | — | — | -$79M | -$82M | -$91M | -$110M | -1% |
Revenue by product
Fiscal years, as Cleveland-Cliffs reports them in its 10-K filings; fiscal 2019 total $2.0B.
| Products | 2017 | 2018 | 2019 | Share |
|---|---|---|---|---|
| Product | $1.6B | $2.2B | $1.8B | 93% |
| Freight | $167M | $160M | $142M | 7% |
| Venture partners' cost reimbursements | $55M | — | — | — |
Revenue by region
Fiscal years, as Cleveland-Cliffs reports them in its 10-K filings; fiscal 2025 total $18.6B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $1.2B | $1.5B | $1.8B | $1.5B | $4.6B | $18.9B | $21.0B | $20.0B | $17.3B | $15.9B | 85% |
| Canada | $267M | $206M | $395M | $448M | $602M | $803M | $963M | $1.0B | $1.1B | $2.1B | 11% |
| Other countries | $51M | $155M | $90M | $37M | $172M | $760M | $1.0B | $950M | $778M | $652M | 4% |
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Where does Cleveland-Cliffs make its money?
In fiscal 2025, by segment: Steelmaking $18.1B, Other Businesses $657M, Eliminations -$110M.
From Cleveland-Cliffs's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.