Cleveland-Cliffs annual net debt
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Cleveland-Cliffs Net Debt Growth & History (CLF)
Cleveland-Cliffs's net debt was $7.88B for fiscal 2025.
View full Cleveland-Cliffs company overviewCleveland-Cliffs annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $7.88B | $162.0M | +2.10% |
| 2024 | 2024-12-31 | $7.72B | $4.33B | +127.54% |
| 2023 | 2023-12-31 | $3.39B | −$1.28B | −27.46% |
| 2022 | 2022-12-31 | $4.68B | −$1.07B | −18.69% |
| 2021 | 2021-12-31 | $5.75B | −$160.0M | −2.71% |
| 2020 | 2020-12-31 | $5.91B | $4.14B | +233.67% |
| 2019 | 2019-12-31 | $1.77B | $501.8M | +39.52% |
| 2018 | 2018-12-31 | $1.27B | −$56.2M | −4.24% |
| 2017 | 2017-12-31 | $1.33B | −$553.9M | −29.47% |
| 2016 | 2016-12-31 | $1.88B | −$534.4M | −22.14% |
| 2015 | 2015-12-31 | $2.41B | −$215.5M | −8.19% |
| 2014 | 2014-12-31 | $2.63B | −$127.3M | −4.62% |
| 2013 | 2013-12-31 | $2.76B | −$1.10B | −28.57% |
| 2012 | 2012-12-31 | $3.86B | $695.4M | +21.98% |
| 2011 | 2011-12-31 | $3.16B | $3.02B | +2061.34% |
| 2010 | 2010-12-31 | $146.4M | $124.1M | +556.50% |
| 2009 | 2009-12-31 | $22.3M | −$323.7M | −93.55% |
| 2008 | 2008-12-31 | $346.0M | — | — |
Cleveland-Cliffs quarterly net debt
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| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $7.63B | −$33.0M | −0.43% |
| Q1 2026 | 2026-03-31 | $7.72B | $174.0M | +2.31% |
| Q4 2025 | 2025-12-31 | $7.88B | $162.0M | +2.10% |
| Q3 2025 | 2025-09-30 | $7.97B | $4.24B | +113.47% |
| Q2 2025 | 2025-06-30 | $7.67B | $4.27B | +125.67% |
| Q1 2025 | 2025-03-31 | $7.54B | $3.91B | +107.59% |
| Q4 2024 | 2024-12-31 | $7.72B | $4.33B | +127.54% |
| Q3 2024 | 2024-09-30 | $3.73B | $308.0M | +8.99% |
| Q2 2024 | 2024-06-30 | $3.40B | −$532.0M | −13.54% |
| Q1 2024 | 2024-03-31 | $3.63B | −$866.0M | −19.24% |
| Q4 2023 | 2023-12-31 | $3.39B | −$1.28B | −27.46% |
| Q3 2023 | 2023-09-30 | $3.43B | −$992.0M | −22.45% |
| Q2 2023 | 2023-06-30 | $3.93B | −$692.0M | −14.98% |
| Q1 2023 | 2023-03-31 | $4.50B | −$493.0M | −9.87% |
| Q4 2022 | 2022-12-31 | $4.68B | −$1.07B | −18.69% |
| Q3 2022 | 2022-09-30 | $4.42B | −$915.0M | −17.15% |
| Q2 2022 | 2022-06-30 | $4.62B | −$674.0M | −12.73% |
| Q1 2022 | 2022-03-31 | $4.99B | −$631.0M | −11.22% |
| Q4 2021 | 2021-12-31 | $5.75B | −$160.0M | −2.71% |
| Q3 2021 | 2021-09-30 | $5.33B | $906.1M | +20.46% |
| Q2 2021 | 2021-06-30 | $5.29B | $725.6M | +15.88% |
| Q1 2021 | 2021-03-31 | $5.62B | $1.14B | +25.45% |
| Q4 2020 | 2020-12-31 | $5.91B | $4.14B | +233.67% |
| Q3 2020 | 2020-09-30 | $4.43B | $2.72B | +158.97% |
| Q2 2020 | 2020-06-30 | $4.57B | $2.84B | +164.54% |
| Q1 2020 | 2020-03-31 | $4.48B | $2.83B | +170.59% |
| Q4 2019 | 2019-12-31 | $1.77B | $501.8M | +39.52% |
| Q3 2019 | 2019-09-30 | $1.71B | $306.9M | +21.88% |
| Q2 2019 | 2019-06-30 | $1.73B | $232.8M | +15.58% |
| Q1 2019 | 2019-03-31 | $1.66B | $105.8M | +6.82% |
| Q4 2018 | 2018-12-31 | $1.27B | −$56.2M | −4.24% |
| Q3 2018 | 2018-09-30 | $1.40B | −$59.4M | −4.06% |
| Q2 2018 | 2018-06-30 | $1.49B | $153.1M | +11.41% |
| Q1 2018 | 2018-03-31 | $1.55B | $203.4M | +15.09% |
| Q4 2017 | 2017-12-31 | $1.33B | −$553.9M | −29.47% |
| Q3 2017 | 2017-09-30 | $1.46B | −$618.9M | −29.74% |
| Q2 2017 | 2017-06-30 | $1.34B | −$1.06B | −44.09% |
| Q1 2017 | 2017-03-31 | $1.35B | −$1.11B | −45.15% |
| Q4 2016 | 2016-12-31 | $1.88B | −$534.4M | −22.14% |
| Q3 2016 | 2016-09-30 | $2.08B | −$370.2M | −15.10% |
| Q2 2016 | 2016-06-30 | $2.40B | −$212.2M | −8.13% |
| Q1 2016 | 2016-03-31 | $2.46B | −$68.5M | −2.71% |
| Q4 2015 | 2015-12-31 | $2.41B | −$215.5M | −8.19% |
| Q3 2015 | 2015-09-30 | $2.45B | −$551.8M | −18.37% |
| Q2 2015 | 2015-06-30 | $2.61B | −$483.0M | −15.61% |
| Q1 2015 | 2015-03-31 | $2.53B | −$402.5M | −13.75% |
| Q4 2014 | 2014-12-31 | $2.63B | −$127.3M | −4.62% |
| Q3 2014 | 2014-09-30 | $3.00B | −$25.5M | −0.84% |
| Q2 2014 | 2014-06-30 | $3.09B | $34.2M | +1.12% |
| Q1 2014 | 2014-03-31 | $2.93B | −$218.1M | −6.93% |
| Q4 2013 | 2013-12-31 | $2.76B | −$1.10B | −28.57% |
| Q3 2013 | 2013-09-30 | $3.03B | −$819.0M | −21.29% |
| Q2 2013 | 2013-06-30 | $3.06B | −$764.6M | −19.99% |
| Q1 2013 | 2013-03-31 | $3.15B | −$402.9M | −11.35% |
| Q4 2012 | 2012-12-31 | $3.86B | $695.4M | +21.98% |
| Q3 2012 | 2012-09-30 | $3.85B | $447.0M | +13.14% |
| Q2 2012 | 2012-06-30 | $3.82B | $101.4M | +2.72% |
| Q1 2012 | 2012-03-31 | $3.55B | $3.40B | +2350.76% |
| Q4 2011 | 2011-12-31 | $3.16B | $3.02B | +2061.34% |
| Q3 2011 | 2011-09-30 | $3.40B | $2.66B | +357.33% |
| Q2 2011 | 2011-06-30 | $3.72B | $3.53B | +1785.16% |
| Q1 2011 | 2011-03-31 | $144.8M | — | — |
| Q4 2010 | 2010-12-31 | $146.4M | $124.1M | +556.50% |
| Q3 2010 | 2010-09-30 | $743.6M | $578.5M | +350.39% |
| Q2 2010 | 2010-06-30 | $197.5M | −$52.9M | −21.13% |
| Q4 2009 | 2009-12-31 | $22.3M | −$323.7M | −93.55% |
| Q3 2009 | 2009-09-30 | $165.1M | — | — |
| Q2 2009 | 2009-06-30 | $250.4M | — | — |
| Q4 2008 | 2008-12-31 | $346.0M | — | — |
Cleveland-Cliffs net debt trends
Over the last five fiscal years, Cleveland-Cliffs's net debt increased from $5.91B to $7.88B, a change of $1.97B. The latest reported quarter, Q2 2026, shows $7.63B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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