Cleveland-Cliffs (Cleveland-Cliffs) Debt-to-Equity

: 0.40 (As of Dec. 2023)

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Cleveland-Cliffs's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0 Mil. Cleveland-Cliffs's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $3,137 Mil. Cleveland-Cliffs's Total Stockholders Equity for the quarter that ended in Dec. 2023 was $7,887 Mil. Cleveland-Cliffs's debt to equity for the quarter that ended in Dec. 2023 was 0.40.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Cleveland-Cliffs's Debt-to-Equity or its related term are showing as below:

CLF' s Debt-to-Equity Range Over the Past 10 Years
Min: -5.19 Med: 0.47 Max: 5.91
Current: 0.4

During the past 13 years, the highest Debt-to-Equity Ratio of Cleveland-Cliffs was 5.91. The lowest was -5.19. And the median was 0.47.

CLF's Debt-to-Equity is ranked better than
52.33% of 558 companies
in the Steel industry
Industry Median: 0.415 vs CLF: 0.40

Cleveland-Cliffs Debt-to-Equity Historical Data

The historical data trend for Cleveland-Cliffs's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cleveland-Cliffs Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

5.91

2.67

0.95

0.55

0.40

Cleveland-Cliffs Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Debt-to-Equity																0.55	0.60	0.51	0.43	0.40

Competitive Comparison

For the Steel subindustry, Cleveland-Cliffs's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Cleveland-Cliffs Debt-to-Equity Distribution

For the Steel industry and Basic Materials sector, Cleveland-Cliffs's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Cleveland-Cliffs's Debt-to-Equity falls into.

Cleveland-Cliffs Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Cleveland-Cliffs's Debt to Equity Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0	+	3137)	/	7887
	=	0.40

Cleveland-Cliffs's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0	+	3137)	/	7887
	=	0.40

Cleveland-Cliffs (NYSE:CLF) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Cleveland-Cliffs Debt-to-Equity Related Terms

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Cleveland-Cliffs (Cleveland-Cliffs) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Cleveland-Cliffs Inc (NYSE:CLF) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

CLF:Mexico CVA:Germany CVA:Germany

Address

200 Public Square, Suite 3300, Cleveland, OH, USA, 44114-2315

Website

https://www.clevelandcliffs.com

Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It has one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.

Executives

Michael Ralph S Iii	director
Goncalves Celso L Jr	officer: EVP, CFO	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
Arlene M Yocum	director	99 PINE STREET, ALBANY NY 12207
Lourenco Goncalves	director, officer: Chairman, President & CEO
Keith Koci	officer: EVP, Chief Financial Officer	ONE RIVERWAY, SUITE 1100, HOUSTON TX 77056
Douglas C Taylor	director	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
Susan Miranda Green	director	11211 LANDY COURT, KENSINGTON MD 20895
Janet L Miller	director	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
Fisher Robert P Jr	director	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44067
John T Baldwin	director	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
Arcelormittal North America Holdings Llc	other: Former 10% Owner	1 SOUTH DEARBORN STREET, 13TH FLOOR, CHICAGO IL 60603
Rcelormittal	other: Former 10% Owner	24-26, BOULEVARD D?AVRANCHES, L-1160 LUXEMBOURG, GRAND DUCHY OF LUXEMBOURG N4 00000
Kimberly A Floriani	officer: VP, Corp Controller & CAO	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
M Ann Harlan	director
William K Gerber	director	999 WEST BIG BEAVER ROAD, TROY MI 48084