• Cleveland-Cliffs average pre-tax profit margin for 2023 was 2.49%, a 83.85% decline from 2022.
• Cleveland-Cliffs average pre-tax profit margin for 2022 was 15.42%, a 44.25% decline from 2021.
• Cleveland-Cliffs average pre-tax profit margin for 2021 was 10.69%, a 3917.86% increase from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.