vs
Cipher Mining Inc.（CIFR）与Clearfield, Inc.（CLFD）财务数据对比。点击上方公司名可切换其他公司
Cipher Mining Inc.的季度营收约是Clearfield, Inc.的1.7倍（$59.7M vs $34.3M），Clearfield, Inc.净利率更高（-1.8% vs -1229.6%，领先1227.8%），Cipher Mining Inc.同比增速更快（41.4% vs -3.2%），Clearfield, Inc.自由现金流更多（$-2.4M vs $-695.9M），过去两年Cipher Mining Inc.的营收复合增速更高（11.4% vs -3.5%）
Cipher Mining Inc.是总部位于美国的比特币挖矿生态运营企业，当前正全力发展加密货币相关业务，深耕加密行业上游基础设施赛道，依托技术及合规优势构建稳定高效的挖矿服务体系。
Clearfield, Inc.总部位于美国明尼苏达州明尼阿波利斯市，是一家专注于光纤产品研发生产的企业，其产品主要应用于光纤通信网络建设领域，为通信基础设施部署提供相关硬件支撑。
CIFR vs CLFD — 直观对比
营收规模更大
CIFR
是对方的1.7倍
$34.3M
营收增速更快
CIFR
高出44.6%
-3.2%
净利率更高
CLFD
高出1227.8%
-1229.6%
自由现金流更多
CLFD
多$693.4M
$-695.9M
两年增速更快
CIFR
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $59.7M | $34.3M |
| 净利润 | $-734.2M | $-614.0K |
| 毛利率 | 59.4% | 33.2% |
| 营业利润率 | -503.4% | -5.3% |
| 净利率 | -1229.6% | -1.8% |
| 营收同比 | 41.4% | -3.2% |
| 净利润同比 | -4293.1% | 67.8% |
| 每股收益（稀释后） | $-1.91 | $-0.04 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CIFRCLFD
| Q4 25 | $59.7M | $34.3M | ||
| Q3 25 | $71.7M | $23.4M | ||
| Q2 25 | $43.6M | $49.9M | ||
| Q1 25 | $49.0M | $47.2M | ||
| Q4 24 | $42.2M | $29.7M | ||
| Q3 24 | $24.1M | $5.6M | ||
| Q2 24 | $36.8M | $48.8M | ||
| Q1 24 | $48.1M | $36.9M |
净利润CIFRCLFD
| Q4 25 | $-734.2M | $-614.0K | ||
| Q3 25 | $-3.3M | $-9.1M | ||
| Q2 25 | $-45.8M | $1.6M | ||
| Q1 25 | $-39.0M | $1.3M | ||
| Q4 24 | $17.5M | $-1.9M | ||
| Q3 24 | $-86.8M | — | ||
| Q2 24 | $-15.3M | $-447.0K | ||
| Q1 24 | $39.9M | $-5.9M |
毛利率CIFRCLFD
| Q4 25 | 59.4% | 33.2% | ||
| Q3 25 | 62.7% | 53.2% | ||
| Q2 25 | 64.8% | 30.5% | ||
| Q1 25 | 69.6% | 30.1% | ||
| Q4 24 | 56.9% | 29.2% | ||
| Q3 24 | 37.5% | — | ||
| Q2 24 | 61.2% | 21.9% | ||
| Q1 24 | 69.2% | 7.7% |
营业利润率CIFRCLFD
| Q4 25 | -503.4% | -5.3% | ||
| Q3 25 | -52.5% | 10.3% | ||
| Q2 25 | -103.9% | 3.0% | ||
| Q1 25 | -77.8% | 0.6% | ||
| Q4 24 | 40.5% | -6.9% | ||
| Q3 24 | -379.2% | — | ||
| Q2 24 | -43.9% | -4.7% | ||
| Q1 24 | 97.2% | -26.4% |
净利率CIFRCLFD
| Q4 25 | -1229.6% | -1.8% | ||
| Q3 25 | -4.6% | -38.8% | ||
| Q2 25 | -105.1% | 3.2% | ||
| Q1 25 | -79.6% | 2.8% | ||
| Q4 24 | 41.5% | -6.4% | ||
| Q3 24 | -359.9% | — | ||
| Q2 24 | -41.5% | -0.9% | ||
| Q1 24 | 82.9% | -16.0% |
每股收益（稀释后）CIFRCLFD
| Q4 25 | $-1.91 | $-0.04 | ||
| Q3 25 | $-0.01 | $-0.65 | ||
| Q2 25 | $-0.12 | $0.11 | ||
| Q1 25 | $-0.11 | $0.09 | ||
| Q4 24 | $0.04 | $-0.13 | ||
| Q3 24 | $-0.26 | — | ||
| Q2 24 | $-0.05 | $-0.04 | ||
| Q1 24 | $0.13 | $-0.40 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $628.3M | $96.4M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $805.5M | $249.7M |
| 总资产 | $4.3B | $268.1M |
| 负债/权益比越低杠杆越低 | 3.37× | — |
8季度趋势，按日历期对齐
现金及短期投资CIFRCLFD
| Q4 25 | $628.3M | $96.4M | ||
| Q3 25 | $1.2B | $106.0M | ||
| Q2 25 | $62.7M | $117.2M | ||
| Q1 25 | $23.2M | $112.0M | ||
| Q4 24 | $5.6M | $113.0M | ||
| Q3 24 | $25.3M | $129.0M | ||
| Q2 24 | $122.6M | $123.8M | ||
| Q1 24 | $88.7M | $142.9M |
总债务CIFRCLFD
| Q4 25 | $2.7B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $167.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | $2.2M | ||
| Q2 24 | — | $2.1M | ||
| Q1 24 | — | — |
股东权益CIFRCLFD
| Q4 25 | $805.5M | $249.7M | ||
| Q3 25 | $783.2M | $256.2M | ||
| Q2 25 | $748.9M | $264.5M | ||
| Q1 25 | $734.8M | $265.9M | ||
| Q4 24 | $682.0M | $267.4M | ||
| Q3 24 | $672.0M | $275.8M | ||
| Q2 24 | $690.8M | $274.6M | ||
| Q1 24 | $600.9M | $279.2M |
总资产CIFRCLFD
| Q4 25 | $4.3B | $268.1M | ||
| Q3 25 | $2.8B | $306.2M | ||
| Q2 25 | $1.0B | $314.7M | ||
| Q1 25 | $913.8M | $310.9M | ||
| Q4 24 | $855.4M | $303.2M | ||
| Q3 24 | $775.4M | $315.3M | ||
| Q2 24 | $775.6M | $318.1M | ||
| Q1 24 | $677.1M | $315.4M |
负债/权益比CIFRCLFD
| Q4 25 | 3.37× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | 0.01× | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-207.9M | $-1.4M |
| 自由现金流经营现金流 - 资本支出 | $-695.9M | $-2.4M |
| 自由现金流率自由现金流/营收 | -1165.4% | -7.1% |
| 资本支出强度资本支出/营收 | 817.1% | 2.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-1.1B | — |
8季度趋势，按日历期对齐
经营现金流CIFRCLFD
| Q4 25 | $-207.9M | $-1.4M | ||
| Q3 25 | $-50.1M | — | ||
| Q2 25 | $-56.2M | $7.9M | ||
| Q1 25 | $-47.2M | $3.0M | ||
| Q4 24 | $-87.5M | $7.2M | ||
| Q3 24 | $-6.5M | $22.2M | ||
| Q2 24 | $-25.4M | $4.0M | ||
| Q1 24 | $-26.6M | $-5.7M |
自由现金流CIFRCLFD
| Q4 25 | $-695.9M | $-2.4M | ||
| Q3 25 | $-256.2M | — | ||
| Q2 25 | $-87.5M | $7.5M | ||
| Q1 25 | $-71.8M | $654.0K | ||
| Q4 24 | $-227.0M | $5.1M | ||
| Q3 24 | $-83.2M | $18.2M | ||
| Q2 24 | $-33.2M | $2.8M | ||
| Q1 24 | $-34.5M | $-7.7M |
自由现金流率CIFRCLFD
| Q4 25 | -1165.4% | -7.1% | ||
| Q3 25 | -357.3% | — | ||
| Q2 25 | -200.9% | 15.1% | ||
| Q1 25 | -146.7% | 1.4% | ||
| Q4 24 | -537.6% | 17.1% | ||
| Q3 24 | -345.0% | 323.0% | ||
| Q2 24 | -90.2% | 5.8% | ||
| Q1 24 | -71.7% | -20.8% |
资本支出强度CIFRCLFD
| Q4 25 | 817.1% | 2.9% | ||
| Q3 25 | 287.5% | 2.0% | ||
| Q2 25 | 71.8% | 0.8% | ||
| Q1 25 | 50.2% | 5.1% | ||
| Q4 24 | 330.4% | 7.0% | ||
| Q3 24 | 317.8% | 71.4% | ||
| Q2 24 | 21.4% | 2.5% | ||
| Q1 24 | 16.4% | 5.3% |
现金转化率CIFRCLFD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.93× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
