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CLEVELAND-CLIFFS INC.（CLF）与自由港麦克莫兰（FCX）财务数据对比。点击上方公司名可切换其他公司
自由港麦克莫兰的季度营收约是CLEVELAND-CLIFFS INC.的1.2倍（$5.3B vs $4.3B）。自由港麦克莫兰净利率更高（10.7% vs -5.6%，领先16.3%）。CLEVELAND-CLIFFS INC.同比增速更快（-0.3% vs -10.4%）。CLEVELAND-CLIFFS INC.自由现金流更多（$-153.0M vs $-312.0M）。过去两年自由港麦克莫兰的营收复合增速更高（-7.9% vs -8.9%）
克利夫兰-克利夫斯公司是总部位于美国俄亥俄州克利夫兰的钢铁制造商，业务覆盖铁矿石开采、选矿、造球及钢铁冶炼，包含冲压与模具制造，是美国第二大钢铁生产商、北美最大扁钢生产商，位列财富500强第221位、福布斯全球2000强第1511位。
自由港麦克莫兰是总部位于美国亚利桑那州凤凰城的矿业企业，是全球最大的钼生产商、主要铜生产商之一，运营着坐落于印度尼西亚巴布亚省的世界最大金矿格拉斯伯格矿。
CLF vs FCX — 直观对比
营收规模更大
FCX
是对方的1.2倍
$4.3B
营收增速更快
CLF
高出10.1%
-10.4%
净利率更高
FCX
高出16.3%
-5.6%
自由现金流更多
CLF
多$159.0M
$-312.0M
两年增速更快
FCX
近两年复合增速
-8.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $5.3B |
| 净利润 | $-241.0M | $565.0M |
| 毛利率 | -5.0% | 12.4% |
| 营业利润率 | -7.9% | 15.4% |
| 净利率 | -5.6% | 10.7% |
| 营收同比 | -0.3% | -10.4% |
| 净利润同比 | 46.1% | -21.6% |
| 每股收益（稀释后） | — | — |
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CLFFCX
| Q4 25 | $4.3B | $5.3B | ||
| Q3 25 | $4.7B | $6.8B | ||
| Q2 25 | $4.9B | $7.5B | ||
| Q1 25 | $4.6B | $5.6B | ||
| Q4 24 | $4.3B | $5.9B | ||
| Q3 24 | $4.6B | $6.7B | ||
| Q2 24 | $5.1B | $6.4B | ||
| Q1 24 | $5.2B | $6.2B |
净利润CLFFCX
| Q4 25 | $-241.0M | $565.0M | ||
| Q3 25 | $-251.0M | $1.2B | ||
| Q2 25 | $-470.0M | $1.5B | ||
| Q1 25 | $-483.0M | $793.0M | ||
| Q4 24 | $-447.0M | $721.0M | ||
| Q3 24 | $-242.0M | $1.2B | ||
| Q2 24 | $2.0M | $1.3B | ||
| Q1 24 | $-67.0M | $1.2B |
毛利率CLFFCX
| Q4 25 | -5.0% | 12.4% | ||
| Q3 25 | -1.0% | 29.2% | ||
| Q2 25 | -4.2% | 34.2% | ||
| Q1 25 | -8.4% | 24.3% | ||
| Q4 24 | -6.3% | 27.0% | ||
| Q3 24 | -2.3% | 30.0% | ||
| Q2 24 | 3.2% | 31.5% | ||
| Q1 24 | 5.5% | 28.5% |
营业利润率CLFFCX
| Q4 25 | -7.9% | 15.4% | ||
| Q3 25 | -4.3% | 28.9% | ||
| Q2 25 | -10.1% | 32.3% | ||
| Q1 25 | -11.6% | 23.4% | ||
| Q4 24 | -10.8% | 21.1% | ||
| Q3 24 | -5.7% | 29.0% | ||
| Q2 24 | 0.1% | 32.0% | ||
| Q1 24 | -0.7% | 26.3% |
净利率CLFFCX
| Q4 25 | -5.6% | 10.7% | ||
| Q3 25 | -5.3% | 18.3% | ||
| Q2 25 | -9.5% | 20.6% | ||
| Q1 25 | -10.4% | 14.2% | ||
| Q4 24 | -10.3% | 12.3% | ||
| Q3 24 | -5.3% | 18.5% | ||
| Q2 24 | 0.0% | 20.0% | ||
| Q1 24 | -1.3% | 18.7% |
每股收益（稀释后）CLFFCX
| Q4 25 | — | — | ||
| Q3 25 | $-0.51 | $0.46 | ||
| Q2 25 | — | $0.53 | ||
| Q1 25 | — | $0.24 | ||
| Q4 24 | $-0.91 | — | ||
| Q3 24 | $-0.52 | $0.36 | ||
| Q2 24 | $0.00 | $0.42 | ||
| Q1 24 | $-0.14 | $0.32 |
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 | $57.0M | $3.8B |
| 总债务越低越好 | $7.3B | $9.4B |
| 股东权益账面价值 | $6.1B | $18.9B |
| 总资产 | $20.0B | $58.2B |
| 负债/权益比越低杠杆越低 | 1.19× | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资CLFFCX
| Q4 25 | $57.0M | $3.8B | ||
| Q3 25 | $66.0M | $4.3B | ||
| Q2 25 | $61.0M | $4.5B | ||
| Q1 25 | $57.0M | $4.4B | ||
| Q4 24 | $54.0M | $3.9B | ||
| Q3 24 | $39.0M | $5.0B | ||
| Q2 24 | $110.0M | $5.3B | ||
| Q1 24 | $30.0M | $5.2B |
总债务CLFFCX
| Q4 25 | $7.3B | $9.4B | ||
| Q3 25 | $8.0B | — | ||
| Q2 25 | $7.7B | — | ||
| Q1 25 | $7.6B | $9.4B | ||
| Q4 24 | $7.1B | $8.9B | ||
| Q3 24 | $3.8B | $9.7B | ||
| Q2 24 | $3.5B | $9.4B | ||
| Q1 24 | $3.7B | $9.4B |
股东权益CLFFCX
| Q4 25 | $6.1B | $18.9B | ||
| Q3 25 | $5.5B | $18.7B | ||
| Q2 25 | $5.8B | $18.2B | ||
| Q1 25 | $6.3B | $17.7B | ||
| Q4 24 | $6.7B | $17.6B | ||
| Q3 24 | $6.9B | $17.5B | ||
| Q2 24 | $7.1B | $17.4B | ||
| Q1 24 | $7.2B | $17.0B |
总资产CLFFCX
| Q4 25 | $20.0B | $58.2B | ||
| Q3 25 | $20.3B | $56.8B | ||
| Q2 25 | $20.5B | $56.5B | ||
| Q1 25 | $20.8B | $56.0B | ||
| Q4 24 | $20.9B | $54.8B | ||
| Q3 24 | $16.8B | $55.4B | ||
| Q2 24 | $16.9B | $54.6B | ||
| Q1 24 | $17.2B | $54.2B |
负债/权益比CLFFCX
| Q4 25 | 1.19× | 0.50× | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 1.33× | — | ||
| Q1 25 | 1.22× | 0.53× | ||
| Q4 24 | 1.06× | 0.51× | ||
| Q3 24 | 0.55× | 0.55× | ||
| Q2 24 | 0.49× | 0.54× | ||
| Q1 24 | 0.51× | 0.56× |
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 | $-13.0M | $693.0M |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $-312.0M |
| 自由现金流率自由现金流/营收 | -3.5% | -5.9% |
| 资本支出强度资本支出/营收 | 3.2% | 19.1% |
| 现金转化率经营现金流/净利润 | — | 1.23× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $1.1B |
8季度趋势，按日历期对齐
经营现金流CLFFCX
| Q4 25 | $-13.0M | $693.0M | ||
| Q3 25 | $-143.0M | $1.7B | ||
| Q2 25 | $45.0M | $2.2B | ||
| Q1 25 | $-351.0M | $1.1B | ||
| Q4 24 | $-472.0M | $1.4B | ||
| Q3 24 | $-84.0M | $1.9B | ||
| Q2 24 | $519.0M | $2.0B | ||
| Q1 24 | $142.0M | $1.9B |
自由现金流CLFFCX
| Q4 25 | $-153.0M | $-312.0M | ||
| Q3 25 | $-300.0M | $608.0M | ||
| Q2 25 | $-67.0M | $934.0M | ||
| Q1 25 | $-503.0M | $-114.0M | ||
| Q4 24 | $-677.0M | $197.0M | ||
| Q3 24 | $-235.0M | $673.0M | ||
| Q2 24 | $362.0M | $840.0M | ||
| Q1 24 | $-40.0M | $642.0M |
自由现金流率CLFFCX
| Q4 25 | -3.5% | -5.9% | ||
| Q3 25 | -6.3% | 8.9% | ||
| Q2 25 | -1.4% | 12.4% | ||
| Q1 25 | -10.9% | -2.0% | ||
| Q4 24 | -15.7% | 3.4% | ||
| Q3 24 | -5.1% | 10.1% | ||
| Q2 24 | 7.1% | 13.1% | ||
| Q1 24 | -0.8% | 10.3% |
资本支出强度CLFFCX
| Q4 25 | 3.2% | 19.1% | ||
| Q3 25 | 3.3% | 15.5% | ||
| Q2 25 | 2.3% | 16.8% | ||
| Q1 25 | 3.3% | 21.0% | ||
| Q4 24 | 4.7% | 21.1% | ||
| Q3 24 | 3.3% | 17.9% | ||
| Q2 24 | 3.1% | 17.4% | ||
| Q1 24 | 3.5% | 20.2% |
现金转化率CLFFCX
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | 1.33× | ||
| Q2 25 | — | 1.42× | ||
| Q1 25 | — | 1.33× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | 259.50× | 1.53× | ||
| Q1 24 | — | 1.63× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CLF
| Hot Rolled Steel | $1.1B | 27% |
| Automotive | $1.1B | 27% |
| Steel Producers | $555.0M | 13% |
| Cold Rolled Steel | $530.0M | 12% |
| Other | $409.0M | 9% |
| Stainless And Electrical Steel | $404.0M | 9% |
| Other Businesses | $159.0M | 4% |
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
