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Cleveland-Cliffs vs MP Materials: CLF and MP compared
Cleveland-Cliffs is the larger company: $5.6B of revenue in its latest quarter (Q3 2026) against $148M for MP Materials (Q3 2026). MP Materials is growing faster (+176% against +18% a year earlier). Cleveland-Cliffs is more profitable, with an operating margin of 5.5% against -14.9%.
Where the money goes: CLF and MP
Cleveland-Cliffs (CLF) · Q3 2026
Cleveland-Cliffs, Q3 2026: revenue $5.6B (+18% year over year), operating margin 5.5%, net earnings $152M, operating cash flow $224M. The chart follows the revenue to costs, profit and cash.
MP Materials (MP) · Q3 2026
MP Materials, Q3 2026: revenue $148M (+176% year over year), operating margin -14.9%, net loss $20.7M, operating cash flow −$12.7M. The chart follows the revenue to costs, profit and cash.
| Cleveland-Cliffs (CLF) | MP Materials (MP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $5.6B | $148M |
| Revenue growth, Y/Y | +18% | +176% |
| Operating margin | 5.5% | -14.9% |
| Net earnings | $152M | −$20.7M |
| Net margin | 2.7% | -14.0% |
| Operating cash flow | $224M | −$12.7M |
| Free cash flow | $72.0M | — |
| Market value | $6.5B | $7.7B |
| Analysts’ mean target | $14.35 | $68.24 |
Questions
Which is bigger, Cleveland-Cliffs or MP Materials?
Cleveland-Cliffs is the larger company: $5.6B of revenue in its latest quarter (Q3 2026) against $148M for MP Materials (Q3 2026).
Is Cleveland-Cliffs or MP Materials growing faster?
MP Materials is growing faster (+176% against +18% a year earlier).
Which is more profitable, Cleveland-Cliffs or MP Materials?
Cleveland-Cliffs is more profitable, with an operating margin of 5.5% against -14.9%.
More: Cleveland-Cliffs earnings · how Cleveland-Cliffs makes money · MP Materials earnings · how MP Materials makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 20, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.