Cleveland-Cliffs Inc (CLF)
Debt-to-equity ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 3,137,000 | 3,458,000 | 3,963,000 | 4,559,000 | 4,249,000 | 4,475,000 | 4,668,000 | 5,028,000 | 5,238,000 | 5,350,000 | 5,368,000 | 5,734,000 | 5,390,000 | 4,309,800 | 4,451,600 | 4,357,100 | 2,114,000 | 2,109,100 | 2,104,500 | 2,087,000 |
| Total stockholders’ equity | US$ in thousands | 7,887,000 | 8,020,000 | 7,802,000 | 7,546,000 | 7,791,000 | 7,008,000 | 6,729,000 | 6,339,000 | 5,490,000 | 3,996,000 | 3,233,000 | 2,389,000 | 2,018,000 | 810,600 | 792,900 | 903,200 | 358,000 | 359,900 | 285,600 | 261,700 |
| Debt-to-equity ratio | 0.40 | 0.43 | 0.51 | 0.60 | 0.55 | 0.64 | 0.69 | 0.79 | 0.95 | 1.34 | 1.66 | 2.40 | 2.67 | 5.32 | 5.61 | 4.82 | 5.91 | 5.86 | 7.37 | 7.97 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $3,137,000K ÷ $7,887,000K
= 0.40
The debt-to-equity ratio of Cleveland-Cliffs Inc has shown fluctuations over the last eight quarters, indicating changes in the company's capital structure. The ratio decreased from 0.79 in Q1 2022 to 0.40 in Q4 2023, suggesting a trend of decreasing reliance on debt financing relative to equity. However, it is important to note that there have been periods of increase in the ratio, such as in Q2 2022 and Q1 2023, indicating potential periods of increased debt levels compared to equity.
Overall, the decreasing trend in the debt-to-equity ratio may imply that Cleveland-Cliffs Inc has been actively managing its debt levels and working towards a more balanced capital structure. However, investors and stakeholders should continue to monitor the ratio to assess the company's financial stability and risk profile.
Peer comparison
Dec 31, 2023