Cleveland-Cliffs Inc (CLF) - Net Assets
Based on the latest financial reports, Cleveland-Cliffs Inc (CLF) has net assets worth $6.32 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($20.01 Billion) and total liabilities ($13.69 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of Cleveland-Cliffs Inc to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $6.32 Billion |
| % of Total Assets | 31.6% |
| Annual Growth Rate | 7.74% |
| 5-Year Change | 9.51% |
| 10-Year Change | N/A |
| Growth Volatility | 102.37 |
Cleveland-Cliffs Inc - Net Assets Trend (1985–2025)
This chart illustrates how Cleveland-Cliffs Inc's net assets have evolved over time, based on quarterly financial data. Also explore CLF total assets for the complete picture of this company's asset base.
Annual Net Assets for Cleveland-Cliffs Inc (1985–2025)
The table below shows the annual net assets of Cleveland-Cliffs Inc from 1985 to 2025. For live valuation and market cap data, see how much is Cleveland-Cliffs Inc worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $6.32 Billion | -8.32% |
| 2024-12-31 | $6.90 Billion | -15.08% |
| 2023-12-31 | $8.12 Billion | +0.99% |
| 2022-12-31 | $8.04 Billion | +39.28% |
| 2021-12-31 | $5.77 Billion | +146.65% |
| 2020-12-31 | $2.34 Billion | +554.09% |
| 2019-12-31 | $357.90 Million | -15.63% |
| 2018-12-31 | $424.20 Million | +197.27% |
| 2017-12-31 | $-436.10 Million | +67.22% |
| 2016-12-31 | $-1.33 Billion | +26.56% |
| 2015-12-31 | $-1.81 Billion | -6.62% |
| 2014-12-31 | $-1.70 Billion | -124.68% |
| 2013-12-31 | $6.88 Billion | +19.50% |
| 2012-12-31 | $5.76 Billion | -18.17% |
| 2011-12-31 | $7.04 Billion | +83.39% |
| 2010-12-31 | $3.84 Billion | +51.31% |
| 2009-12-31 | $2.54 Billion | +44.66% |
| 2008-12-31 | $1.75 Billion | +23.84% |
| 2007-12-31 | $1.42 Billion | +41.07% |
| 2006-12-31 | $1.00 Billion | +12.07% |
| 2005-12-31 | $895.80 Million | +61.32% |
| 2004-12-31 | $555.30 Million | +123.64% |
| 2003-12-31 | $248.30 Million | +150.30% |
| 2002-12-31 | $99.20 Million | -75.21% |
| 2001-12-31 | $400.10 Million | -6.06% |
| 2000-12-31 | $425.90 Million | +4.57% |
| 1999-12-31 | $407.30 Million | -6.92% |
| 1998-12-31 | $437.60 Million | +7.41% |
| 1997-12-31 | $407.40 Million | +9.93% |
| 1996-12-31 | $370.60 Million | +8.17% |
| 1995-12-31 | $342.60 Million | +10.02% |
| 1994-12-31 | $311.40 Million | +10.94% |
| 1993-12-31 | $280.70 Million | +4.12% |
| 1992-12-31 | $269.60 Million | -7.29% |
| 1991-12-31 | $290.80 Million | 0.00% |
| 1990-12-31 | $290.80 Million | +28.67% |
| 1989-12-31 | $226.00 Million | +34.05% |
| 1988-12-31 | $168.60 Million | -51.19% |
| 1987-12-31 | $345.40 Million | +25.37% |
| 1986-12-31 | $275.50 Million | -13.91% |
| 1985-12-31 | $320.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Cleveland-Cliffs Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 265.6% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Comprehensive Income | $1.49 Billion | 24.40% |
| Other Components | $5.81 Billion | 95.03% |
| Total Equity | $6.12 Billion | 100.00% |
Cleveland-Cliffs Inc Competitors by Market Cap
The table below lists competitors of Cleveland-Cliffs Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
EPAM Systems Inc
NYSE:EPAM
|
$5.93 Billion |
|
Reinet Investments S.C.A
AS:REINA
|
$5.93 Billion |
|
ISS A/S
CO:ISS
|
$5.93 Billion |
|
Kuala Lumpur Kepong Bhd
KLSE:2445
|
$5.93 Billion |
|
Max Financial Services Limited
NSE:MFSL
|
$5.92 Billion |
|
Axalta Coating Systems Ltd
NYSE:AXTA
|
$5.92 Billion |
|
ZALANDO SE UNSP.ADR /2
F:ZAL1
|
$5.91 Billion |
|
LB Group Co Ltd
SHE:002601
|
$5.90 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cleveland-Cliffs Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 6,664,000,000 to 6,116,000,000, a change of -548,000,000 (-8.2%).
- Net loss of 1,478,000,000 reduced equity.
- Share repurchases of 951,000,000 reduced equity.
- New share issuances of 951,000,000 increased equity.
- Other comprehensive income decreased equity by 45,000,000.
- Other factors increased equity by 975,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-1.48 Billion | -24.17% |
| Share Repurchases | $951.00 Million | -15.55% |
| Share Issuances | $951.00 Million | +15.55% |
| Other Comprehensive Income | $-45.00 Million | -0.74% |
| Other Changes | $975.00 Million | +15.94% |
| Total Change | $- | -8.22% |
Book Value vs Market Value Analysis
This analysis compares Cleveland-Cliffs Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.85x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 3.31x to 0.85x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $3.17 | $10.51 | x |
| 1986-12-31 | $2.77 | $10.51 | x |
| 1987-12-31 | $3.20 | $10.51 | x |
| 1988-12-31 | $1.58 | $10.51 | x |
| 1989-12-31 | $2.40 | $10.51 | x |
| 1990-12-31 | $3.08 | $10.51 | x |
| 1991-12-31 | $3.05 | $10.51 | x |
| 1992-12-31 | $2.82 | $10.51 | x |
| 1993-12-31 | $2.91 | $10.51 | x |
| 1994-12-31 | $3.22 | $10.51 | x |
| 1995-12-31 | $3.57 | $10.51 | x |
| 1996-12-31 | $3.97 | $10.51 | x |
| 1997-12-31 | $4.43 | $10.51 | x |
| 1998-12-31 | $4.84 | $10.51 | x |
| 1999-12-31 | $4.59 | $10.51 | x |
| 2000-12-31 | $4.78 | $10.51 | x |
| 2001-12-31 | $4.66 | $10.51 | x |
| 2002-12-31 | $0.98 | $10.51 | x |
| 2003-12-31 | $2.78 | $10.51 | x |
| 2004-12-31 | $5.44 | $10.51 | x |
| 2005-12-31 | $7.40 | $10.51 | x |
| 2006-12-31 | $8.53 | $10.51 | x |
| 2007-12-31 | $12.36 | $10.51 | x |
| 2008-12-31 | $16.16 | $10.51 | x |
| 2009-12-31 | $20.21 | $10.51 | x |
| 2010-12-31 | $28.25 | $10.51 | x |
| 2011-12-31 | $41.02 | $10.51 | x |
| 2012-12-31 | $32.54 | $10.51 | x |
| 2013-12-31 | $34.82 | $10.51 | x |
| 2014-12-31 | $-9.35 | $10.51 | x |
| 2015-12-31 | $-12.90 | $10.51 | x |
| 2016-12-31 | $-7.32 | $10.51 | x |
| 2017-12-31 | $-1.49 | $10.51 | x |
| 2018-12-31 | $1.39 | $10.51 | x |
| 2019-12-31 | $1.26 | $10.51 | x |
| 2020-12-31 | $5.35 | $10.51 | x |
| 2021-12-31 | $10.35 | $10.51 | x |
| 2022-12-31 | $15.35 | $10.51 | x |
| 2023-12-31 | $15.43 | $10.51 | x |
| 2024-12-31 | $13.88 | $10.51 | x |
| 2025-12-31 | $12.43 | $10.51 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cleveland-Cliffs Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -24.17%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -7.94%
- • Asset Turnover: 0.93x
- • Equity Multiplier: 3.27x
- Recent ROE (-24.17%) is below the historical average (12.81%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 6.28% | 6.16% | 0.58x | 1.75x | $-11.90 Million |
| 1986 | -15.14% | -15.63% | 0.46x | 2.12x | $-69.25 Million |
| 1987 | 3.68% | 3.50% | 0.55x | 1.90x | $-21.84 Million |
| 1988 | 23.25% | 9.97% | 1.01x | 2.31x | $22.34 Million |
| 1989 | 26.81% | 17.29% | 0.85x | 1.82x | $38.00 Million |
| 1990 | 25.38% | 23.81% | 0.61x | 1.75x | $44.72 Million |
| 1991 | 18.50% | 16.95% | 0.67x | 1.62x | $24.72 Million |
| 1992 | -2.93% | -2.54% | 0.58x | 1.99x | $-34.86 Million |
| 1993 | 19.45% | 15.34% | 0.65x | 1.94x | $26.53 Million |
| 1994 | 13.74% | 11.01% | 0.63x | 1.98x | $11.66 Million |
| 1995 | 16.87% | 12.55% | 0.71x | 1.88x | $23.54 Million |
| 1996 | 16.46% | 12.12% | 0.75x | 1.82x | $23.94 Million |
| 1997 | 13.48% | 12.51% | 0.63x | 1.70x | $14.16 Million |
| 1998 | 13.12% | 11.62% | 0.68x | 1.65x | $13.64 Million |
| 1999 | 1.18% | 1.33% | 0.53x | 1.67x | $-35.93 Million |
| 2000 | 4.50% | 4.21% | 0.59x | 1.81x | $-22.10 Million |
| 2001 | -6.12% | -6.93% | 0.40x | 2.20x | $-60.32 Million |
| 2002 | -237.45% | -31.46% | 0.82x | 9.21x | $-196.23 Million |
| 2003 | -14.34% | -3.81% | 0.96x | 3.92x | $-55.51 Million |
| 2004 | 54.25% | 26.82% | 1.04x | 1.95x | $263.95 Million |
| 2005 | 33.69% | 15.96% | 1.00x | 2.12x | $195.19 Million |
| 2006 | 30.51% | 14.58% | 0.99x | 2.11x | $188.29 Million |
| 2007 | 20.79% | 11.87% | 0.74x | 2.37x | $140.16 Million |
| 2008 | 29.47% | 14.29% | 0.88x | 2.35x | $340.75 Million |
| 2009 | 8.07% | 8.76% | 0.50x | 1.82x | $-49.18 Million |
| 2010 | 26.52% | 21.78% | 0.60x | 2.02x | $635.31 Million |
| 2011 | 27.99% | 23.83% | 0.47x | 2.51x | $1.04 Billion |
| 2012 | -19.41% | -15.31% | 0.43x | 2.93x | $-1.36 Billion |
| 2013 | 6.81% | 7.27% | 0.43x | 2.16x | $-193.45 Million |
| 2014 | 0.00% | -155.48% | 1.45x | 0.00x | $-7.05 Billion |
| 2015 | 0.00% | -37.22% | 0.94x | 0.00x | $-551.16 Million |
| 2016 | 0.00% | 8.26% | 1.10x | 0.00x | $320.53 Million |
| 2017 | 0.00% | 16.09% | 0.79x | 0.00x | $418.53 Million |
| 2018 | 265.94% | 48.37% | 0.66x | 8.32x | $1.09 Billion |
| 2019 | 81.81% | 14.71% | 0.57x | 9.79x | $257.01 Million |
| 2020 | -6.02% | -2.28% | 0.32x | 8.27x | $-324.79 Million |
| 2021 | 51.75% | 14.62% | 1.08x | 3.29x | $2.41 Billion |
| 2022 | 16.60% | 5.81% | 1.23x | 2.33x | $530.80 Million |
| 2023 | 5.06% | 1.81% | 1.25x | 2.22x | $-389.70 Million |
| 2024 | -11.31% | -3.93% | 0.92x | 3.14x | $-1.42 Billion |
| 2025 | -24.17% | -7.94% | 0.93x | 3.27x | $-2.09 Billion |
Industry Comparison
This section compares Cleveland-Cliffs Inc's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $424,617,317
- Average return on equity (ROE) among peers: 10.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cleveland-Cliffs Inc (CLF) | $6.32 Billion | 6.28% | 2.16x | $5.92 Billion |
| Commercial Metals Company (CMC) | $1.40 Billion | 3.31% | 1.12x | $7.61 Billion |
| Friedman Industries Inc. Common Stock (FRD) | $63.05 Million | 4.38% | 0.18x | $137.98 Million |
| Friedman Industries Inc. Common Stock (FRD) | $62.96 Million | 9.75% | 0.22x | $138.83 Million |
| Gerdau SA ADR (GGB) | $2.18 Billion | 16.21% | 1.92x | $5.42 Billion |
| Hongli Group Inc. Ordinary Shares (HLP) | $53.49 Million | -3.52% | 0.22x | $61.39 Million |
| Huadi International Group Co Ltd (HUDI) | $12.00 Million | 76.97% | 5.60x | $17.02 Million |
| Inno Holdings Inc. Common Stock (INHD) | $15.17 Million | -46.68% | 0.06x | $9.59 Million |
| FST Corp. Ordinary Shares (KBSX) | $25.03 Million | -0.36% | 0.86x | $51.70 Million |
| Luda Technology Group Limited (LUD) | $13.12 Million | 37.67% | 1.43x | $136.59 Million |
About Cleveland-Cliffs Inc
Cleveland-Cliffs Inc. operates as a steel producer in the in the United States and Canada. It offers hot-rolled, cold-rolled, and coated products, such as aluminized, electrogalvanized, and galvalume products, as well as galvanneal and hot-dipped galvanized products; stainless and electrical products, including GOES, NOES, and auto chrome; plate products; and slab and other steel products. The co… Read more