Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Cleveland-Cliffs's retained earnings for the quarter that ended in Jun. 2026 was MXN-15,896 Mil.
Cleveland-Cliffs's quarterly retained earnings
declined
from Dec. 2025 (MXN-9,525 Mil) to Mar. 2026 (MXN-13,813 Mil) and
declined
from Mar. 2026 (MXN-13,813 Mil) to Jun. 2026 (MXN-15,896 Mil).
Cleveland-Cliffs's annual retained earnings
declined
from Dec. 2023 (MXN29,416 Mil) to Dec. 2024 (MXN19,792 Mil) and
declined
from Dec. 2024 (MXN19,792 Mil) to Dec. 2025 (MXN-9,525 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Cleveland-Cliffs Retained Earnings Historical Data
* Premium members only.
The historical data trend for Cleveland-Cliffs's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of MXN-15,896 Mil mean?
Cleveland-Cliffs (MEX:CLF) has a Retained Earnings of MXN-15,896 Mil as of Jun. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Cleveland-Cliffs and its competitors.
Is Cleveland-Cliffs' Retained Earnings too high?
Cleveland-Cliffs' current Retained Earnings is MXN-15,896 Mil. Overall, Cleveland-Cliffs has a GF Score™ of 58/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Cleveland-Cliffs' Retained Earnings compare to TX and WS?
Cleveland-Cliffs' Retained Earnings of MXN-15,896 Mil can be compared against companies in the Steel industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Steel company?
A good Retained Earnings depends on the Steel industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Cleveland-Cliffs and its competitors. Cleveland-Cliffs's current Retained Earnings is MXN-15,896 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cleveland-Cliffs stock overvalued right now?
Based on GuruFocus' analysis, Cleveland-Cliffs (MEX:CLF) is currently considered Fairly Valued. The stock's GF Value™ is MXN193.95, compared to a current price of MXN213.50 — trading 10.1% above its estimated fair value. The current Retained Earnings is MXN-15,896 Mil. Cleveland-Cliffs' overall GF Score™ is 58/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Cleveland-Cliffs (MEX:CLF), the current Retained Earnings is MXN-15,896 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cleveland-Cliffs (MEX:CLF) Overvalued in 2026?
Based on GuruFocus' analysis, Cleveland-Cliffs stock appears to be overvalued.
The current stock price of MXN213.50 is trading 10.1% above its estimated GF Value™ of MXN193.95.
GuruFocus considers Cleveland-Cliffs to be Fairly Valued.
Key valuation signals for MEX:CLF:
Retained Earnings: MXN-15,896 Mil
GF Value™: MXN193.95 vs. price of MXN213.50 (10.1% above fair value)
No single metric tells the full story. See the MEX:CLF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through 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.
58GF Score
Get the complete analysis for MEX:CLF
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:CLF has been successfully added to your 
