Company / Operating Margin
Cleveland-Cliffs Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
-8.5%
FY2025
5-year range
-8.5% / 21.6%
FY2021-FY2025
Trend
-113.1%
vs FY2024
Sector context
#69 of 84
Materials
What the data says
Cleveland-Cliffs's operating margin of -8.5% is lower than 82% of companies in the Materials sector (FY2025). Operating Margin has fluctuated over the past 10 years, ranging from -8.5% in FY2025 to 28.9% in FY2020.
Based on SEC 10-K filings.
-8.5% in FY2025 with a 5-year CAGR of -37.3%.
Declined from 19.6% to -8.5% over the past 2 years.
Materials sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -5.8pp
- 5-Year Change
- -37.3pp
- 10-Year Change
- -
Sector benchmark
Bottom 18% in MaterialsTop 82% of 84This company -8.5% Sector average -70.2%
▼
+87.9% above sector average
Key checks
Key Insights
- In FY2025, operating margin decreased 113.1% year-over-year.
- Currently 61.7pp above the Materials sector average.
- Peak operating margin was recorded in FY2020.
Company context
Key Data Points
- Low Piotroski F-Score: 2/9 (multiple financial health concerns)
- Altman Z-Score 0.96 (distress zone, below 1.8 threshold)
- Negative profit margin: -9.0%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | -8.5% | -113.1% |
| FY2024 | -4.0% | -120.3% |
| FY2023 | 19.6% | +840.4% |
| FY2022 | -2.6% | -112.3% |
| FY2021 | 21.6% | -25.3% |
| FY2020 | 28.9% | +33.9% |
| FY2019 | 21.6% | -25.3% |
| FY2018 | 28.9% | +283.8% |
| FY2017 | 7.5% | +94.8% |
| FY2016 | 3.9% | -89.1% |
As of FY2025 · SEC 10-K · Updated Jul 2, 2026