Cleveland-Cliffs

Cleveland-Cliffs

Integrated steel production from ore onward

Overview

Cleveland-Cliffs is a vertically integrated steel maker and iron ore producer, the largest flat-rolled steel producer in North America. It controls the full chain from iron ore mining to downstream finishing, processing, and distribution, forming a closed-loop system that secures raw-material supply and tightens cost and quality control. Its products include hot-rolled, cold-rolled, and coated steel, as well as iron ore sold to other steelmakers, with a focus on serving the North American market across automotive, infrastructure, and manufacturing sectors. Unlike many peers, Cleveland-Cliffs differentiates itself through end-to-end integration and a strong regional footprint, enabling customized solutions and reliable supply for its customers. The company aims to maintain material availability, translate supply-chain advantages into stable pricing and quality, and grow its leadership in North American steel production.

About Cleveland-Cliffs

Simplify's Rating
Why Cleveland-Cliffs is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Automotive & Transportation

Industrial & Manufacturing

Company Size

5,001-10,000

Company Stage

IPO

Headquarters

Cleveland, Ohio

Founded

1847

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Simplify's Take

What believers are saying

  • Section 232 tariffs lifted domestic pricing, with imports at their lowest since 2009.
  • Q1 2026 shipments rose to 4.1 million tons, with positive EBITDA returning.
  • Management expects Q2 2026 positive free cash flow and stronger automotive shipments.

What critics are saying

  • $7.8 billion debt leaves little room for another steel downturn.
  • A February 2026 energy spike cut Q1 EBITDA by $80 million.
  • Burns Harbor and Gary Works still rely on aging blast-furnace assets and heavy capex.

What makes Cleveland-Cliffs unique

  • Vertically integrated from iron ore mining through downstream stamping and tubing.
  • North America's largest flat-rolled steel producer, with dominant automotive customer exposure.
  • Palantir partnership embeds AI into planning and plant operations across Cleveland-Cliffs facilities.

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Funding

Total Funding

$8.5B

Above

Industry Average

Funded Over

7 Rounds

Post IPO Equity funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Equity Funding Comparison
Coming Soon

Benefits

Health Insurance

401(k) Retirement Plan

Paid Vacation

Education Assistance

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

-2%

1 year growth

-2%

2 year growth

-2%
Cleveland News.Net
Apr 6th, 2026
Report: northwest IN steel mills need environmental upgrades.

Report: northwest IN steel mills need environmental upgrades. Terri Dee 06 Apr 2026, 06:02 GMT+ A new report showed Indiana's nationally known steel plants are outdated and could function better using cleaner fuels. Burns Harbor, Indiana Harbor Works and Gary Works produce slightly more than 40% of the nation's steel. It is estimated they emit about 25 million tons of carbon dioxide each year. The study was conducted by the Environmental Resilience Institute at Indiana University, a science-based organization blending academia, research and community to address the state's environmental health challenges. Gabriel Filiptelli, professor of earth sciences, executive director of the institute and the study's co-author, said the plants' operation models have not changed in more than 100 years. "If we can get off of coal for these industries, we can keep them vital assets to Indiana and Indiana workers while significantly cleaning up the environment," Filiptelli explained. "The technology to do that is not theoretical. It's tried and true. They already make steel using these technologies in other places." A transition from coal to the new modern steelmaking fuels and fuel sources could likely stabilize or boost employment in Northwest Indiana, Fillippelli added. Between 1990 and 2017, steel mill jobs at Gary Works, ArcelorMittal and Indiana Harbor in Northwest Indiana declined by 58%. Upgrades to the outdated plants could greatly improve the health of nearby residents, Fillippelli explained. Conditions are poor in Indiana's northwest region due to extreme air pollution and poor water quality stemming from steel mill pollution. "We can get rid of a bunch of that pollution," Filiptelli emphasized. "Community members would be very happy to have cleaner communities. The health impacts alone are about $100 million a year on communities living in and around Gary, Hammond and that region." Steel companies Nippon Steel and Cleveland Cliffs plan to invest a combined $700 million to reline outdated blast furnaces at the Gary Works and Burns Harbor steel mills over the next two years.

Yahoo Finance
Mar 11th, 2026
Cleveland-Cliffs shares drop 22% after Q4 earnings miss revenue estimates

Cleveland-Cliffs has seen shares decline 22.3% in the month following its latest earnings report, underperforming the S&P 500. The steelmaker reported a fourth-quarter 2025 adjusted loss of 43 cents per share, beating the consensus estimate of a 62-cent loss, though revenues of $4.3 billion missed expectations of $4.6 billion. The company's average net selling price per net ton of steel products rose 2% year-over-year to $993, whilst external sales volumes fell 1.5% to approximately 3.77 million net tons. Long-term debt decreased 10% sequentially to $7.3 billion. For 2026, Cleveland-Cliffs expects capital expenditures of around $700 million and targets steel unit cost reductions of approximately $10 per net ton from 2025 levels.

The Fabricator
Nov 12th, 2025
Cleveland-Cliffs: $700M POSCO Partnership Signals Shift

The Ryerson-Olympic Steel merger and POSCO's $700 million investment in Cleveland-Cliffs indicate a trend of consolidation and foreign investment in the U.S. steel industry. This could lead to more strategic alliances and mergers among service centers. The Cleveland-Cliffs-POSCO partnership aligns with U.S.-Korea trade rules, potentially increasing competition for domestic mills. Rising U.S. manufacturing demand may drive further reshoring and investment in steel production.

Cleveland-Cliffs Inc.
Oct 9th, 2025
Cleveland-Cliffs Inc. Announces Upsizing and Pricing of an Additional $275 Million of Senior Unsecured Guaranteed Notes due 2034

CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it has upsized and priced an additional $275 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034 (the “Additional Notes”) in an offering (the “Additional Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Additional Notes will be issued at a price of 102.750% of their principal amount, an implied yield of 6.992%. The Additional Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries. The Additional Notes Offering is expected to close on October 10, 2025, subject to the satisfaction of customary closing conditions. Cliffs intends to use the net proceeds from the Additional Notes Offering to repay borrowings under its asset-based lending facility.

Business Wire
Sep 4th, 2025
Cleveland-Cliffs Announces Upsizing and Pricing of $850 Million of Senior Unsecured Notes due 2034

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it has upsized and priced $850 million aggregate principal amount of Senior Unsecured Guara...

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