Cleveland-Cliffs Inc (CLF)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 7,065,000 | 3,137,000 | 4,249,000 | 5,238,000 | 5,390,000 |
| Total assets | US$ in thousands | 20,947,000 | 17,537,000 | 18,755,000 | 18,975,000 | 16,771,000 |
| Debt-to-assets ratio | 0.34 | 0.18 | 0.23 | 0.28 | 0.32 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $7,065,000K ÷ $20,947,000K
= 0.34
The debt-to-assets ratio for Cleveland-Cliffs Inc has shown a declining trend over the five-year period from 2020 to 2024, indicating the company's improved financial health and lower reliance on debt funding. Starting at 0.32 in 2020, the ratio decreased steadily to 0.18 by the end of 2023, signaling that the company's debt level relative to its total assets has been decreasing over time. However, there was a slight uptick to 0.34 at the end of 2024, which suggests a potential increase in debt or a decrease in assets during that specific year. Overall, a lower debt-to-assets ratio is generally seen as favorable as it signifies lower financial risk and better solvency for the company.
Peer comparison
Dec 31, 2024