Cleveland-Cliffs Inc (CLF)
Gross profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 557,000 | 500,000 | 387,000 | 766,000 | 1,892,000 | 3,248,000 | 4,680,000 | 4,895,000 | 3,980,000 | 3,124,500 | 1,473,500 | 139,800 | -152,500 | -91,100 | 12,800 | 473,500 | 575,700 | 650,800 | 757,500 | 779,000 |
| Revenue (ttm) | US$ in thousands | 21,996,000 | 21,928,000 | 21,976,000 | 22,329,000 | 22,989,000 | 23,291,000 | 23,642,000 | 22,350,000 | 20,444,000 | 17,354,000 | 12,996,000 | 9,044,000 | 5,354,000 | 3,632,100 | 2,541,700 | 2,191,900 | 1,989,900 | 2,152,100 | 2,338,300 | 2,309,400 |
| Gross profit margin | 2.53% | 2.28% | 1.76% | 3.43% | 8.23% | 13.95% | 19.80% | 21.90% | 19.47% | 18.00% | 11.34% | 1.55% | -2.85% | -2.51% | 0.50% | 21.60% | 28.93% | 30.24% | 32.40% | 33.73% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $557,000K ÷ $21,996,000K
= 2.53%
The gross profit margin of Cleveland-Cliffs Inc has shown a decreasing trend over the past eight quarters. In Q4 2022, the gross profit margin was at its highest at 24.59%, but it has steadily declined since then. In the most recent quarter, Q4 2023, the gross profit margin was at its lowest at 6.32%. This significant decrease indicates a potential decrease in profitability and efficiency in managing production costs and generating revenue from its core business operations. It is essential for the company to closely monitor and address the factors impacting its gross profit margin to ensure sustainable financial performance in the future.
Peer comparison
Dec 31, 2023