Cleveland-Cliffs Inc (CLF)
Gross profit margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | -684,000 | -423,000 | 119,000 | 583,000 | 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 |
| Revenue (ttm) | US$ in thousands | 19,185,000 | 19,972,000 | 21,008,000 | 21,900,000 | 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 |
| Gross profit margin | -3.57% | -2.12% | 0.57% | 2.66% | 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% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $-684,000K ÷ $19,185,000K
= -3.57%
The gross profit margin of Cleveland-Cliffs Inc has displayed significant fluctuations over the reported periods. From March 31, 2020, to September 30, 2021, the margin experienced a notable decline, turning negative in the subsequent periods. However, there was a positive turnaround starting from March 31, 2022, with a gradual increase in the margin, reaching its peak at 21.90% on March 31, 2022.
Subsequently, there was some volatility in the margin, with decreases observed in June 30, 2022, and September 30, 2022. The margin showed signs of stabilization in the following quarters, hovering around the mid-teens to single-digit percentages until the end of December 31, 2024.
The company's gross profit margin appears to have undergone a recovery and stabilization phase after a period of volatility and negative margins. This suggests potential improvements in production efficiency, cost management, or pricing strategies undertaken by Cleveland-Cliffs Inc during the analyzed period.
Peer comparison
Dec 31, 2024