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CLEVELAND-CLIFFS INC.（CLF）与汉瑞祥（HSIC）财务数据对比。点击上方公司名可切换其他公司
CLEVELAND-CLIFFS INC.的季度营收约是汉瑞祥的1.3倍（$4.3B vs $3.4B），汉瑞祥净利率更高（2.9% vs -5.6%，领先8.5%），汉瑞祥同比增速更快（7.7% vs -0.3%），汉瑞祥自由现金流更多（$338.0M vs $-153.0M），过去两年汉瑞祥的营收复合增速更高（4.1% 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。
汉瑞祥（Henry Schein, Inc.）是美国的医疗保健产品及服务分销商，业务覆盖全球33个国家和地区，是全球面向诊所类牙科及医疗从业者的最大医疗解决方案供应商。公司连续14年入选Ethisphere评选的「全球最具道德企业」榜单，2025年再次登榜。
CLF vs HSIC — 直观对比
营收规模更大
CLF
是对方的1.3倍
$3.4B
营收增速更快
HSIC
高出8.0%
-0.3%
净利率更高
HSIC
高出8.5%
-5.6%
自由现金流更多
HSIC
多$491.0M
$-153.0M
两年增速更快
HSIC
近两年复合增速
-8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $3.4B |
| 净利润 | $-241.0M | $101.0M |
| 毛利率 | -5.0% | 30.9% |
| 营业利润率 | -7.9% | 4.7% |
| 净利率 | -5.6% | 2.9% |
| 营收同比 | -0.3% | 7.7% |
| 净利润同比 | 46.1% | 7.4% |
| 每股收益（稀释后） | — | $0.85 |
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CLFHSIC
| Q4 25 | $4.3B | $3.4B | ||
| Q3 25 | $4.7B | $3.3B | ||
| Q2 25 | $4.9B | $3.2B | ||
| Q1 25 | $4.6B | $3.2B | ||
| Q4 24 | $4.3B | $3.2B | ||
| Q3 24 | $4.6B | $3.2B | ||
| Q2 24 | $5.1B | $3.1B | ||
| Q1 24 | $5.2B | $3.2B |
净利润CLFHSIC
| Q4 25 | $-241.0M | $101.0M | ||
| Q3 25 | $-251.0M | $101.0M | ||
| Q2 25 | $-470.0M | $86.0M | ||
| Q1 25 | $-483.0M | $110.0M | ||
| Q4 24 | $-447.0M | $94.0M | ||
| Q3 24 | $-242.0M | $99.0M | ||
| Q2 24 | $2.0M | $104.0M | ||
| Q1 24 | $-67.0M | $93.0M |
毛利率CLFHSIC
| Q4 25 | -5.0% | 30.9% | ||
| Q3 25 | -1.0% | 30.7% | ||
| Q2 25 | -4.2% | 31.4% | ||
| Q1 25 | -8.4% | 31.6% | ||
| Q4 24 | -6.3% | 31.1% | ||
| Q3 24 | -2.3% | 31.3% | ||
| Q2 24 | 3.2% | 32.5% | ||
| Q1 24 | 5.5% | 31.9% |
营业利润率CLFHSIC
| Q4 25 | -7.9% | 4.7% | ||
| Q3 25 | -4.3% | 4.9% | ||
| Q2 25 | -10.1% | 4.7% | ||
| Q1 25 | -11.6% | 5.5% | ||
| Q4 24 | -10.8% | 4.9% | ||
| Q3 24 | -5.7% | 4.9% | ||
| Q2 24 | 0.1% | 5.1% | ||
| Q1 24 | -0.7% | 4.7% |
净利率CLFHSIC
| Q4 25 | -5.6% | 2.9% | ||
| Q3 25 | -5.3% | 3.0% | ||
| Q2 25 | -9.5% | 2.7% | ||
| Q1 25 | -10.4% | 3.5% | ||
| Q4 24 | -10.3% | 2.9% | ||
| Q3 24 | -5.3% | 3.1% | ||
| Q2 24 | 0.0% | 3.3% | ||
| Q1 24 | -1.3% | 2.9% |
每股收益（稀释后）CLFHSIC
| Q4 25 | — | $0.85 | ||
| Q3 25 | $-0.51 | $0.84 | ||
| Q2 25 | — | $0.70 | ||
| Q1 25 | — | $0.88 | ||
| Q4 24 | $-0.91 | $0.75 | ||
| Q3 24 | $-0.52 | $0.78 | ||
| Q2 24 | $0.00 | $0.80 | ||
| Q1 24 | $-0.14 | $0.72 |
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 | $156.0M |
| 总债务越低越好 | $7.3B | $2.3B |
| 股东权益账面价值 | $6.1B | $3.2B |
| 总资产 | $20.0B | $11.2B |
| 负债/权益比越低杠杆越低 | 1.19× | 0.71× |
8季度趋势，按日历期对齐
现金及短期投资CLFHSIC
| Q4 25 | $57.0M | $156.0M | ||
| Q3 25 | $66.0M | $136.0M | ||
| Q2 25 | $61.0M | $145.0M | ||
| Q1 25 | $57.0M | $127.0M | ||
| Q4 24 | $54.0M | $122.0M | ||
| Q3 24 | $39.0M | $126.0M | ||
| Q2 24 | $110.0M | $138.0M | ||
| Q1 24 | $30.0M | $159.0M |
总债务CLFHSIC
| Q4 25 | $7.3B | $2.3B | ||
| Q3 25 | $8.0B | $2.2B | ||
| Q2 25 | $7.7B | $2.1B | ||
| Q1 25 | $7.6B | $2.0B | ||
| Q4 24 | $7.1B | $1.8B | ||
| Q3 24 | $3.8B | $1.9B | ||
| Q2 24 | $3.5B | $1.9B | ||
| Q1 24 | $3.7B | $2.0B |
股东权益CLFHSIC
| Q4 25 | $6.1B | $3.2B | ||
| Q3 25 | $5.5B | $3.4B | ||
| Q2 25 | $5.8B | $3.4B | ||
| Q1 25 | $6.3B | $3.3B | ||
| Q4 24 | $6.7B | $3.4B | ||
| Q3 24 | $6.9B | $3.5B | ||
| Q2 24 | $7.1B | $3.5B | ||
| Q1 24 | $7.2B | $3.6B |
总资产CLFHSIC
| Q4 25 | $20.0B | $11.2B | ||
| Q3 25 | $20.3B | $11.1B | ||
| Q2 25 | $20.5B | $10.9B | ||
| Q1 25 | $20.8B | $10.5B | ||
| Q4 24 | $20.9B | $10.2B | ||
| Q3 24 | $16.8B | $10.6B | ||
| Q2 24 | $16.9B | $10.3B | ||
| Q1 24 | $17.2B | $10.1B |
负债/权益比CLFHSIC
| Q4 25 | 1.19× | 0.71× | ||
| Q3 25 | 1.47× | 0.64× | ||
| Q2 25 | 1.33× | 0.61× | ||
| Q1 25 | 1.22× | 0.59× | ||
| Q4 24 | 1.06× | 0.54× | ||
| Q3 24 | 0.55× | 0.54× | ||
| 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 | $381.0M |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $338.0M |
| 自由现金流率自由现金流/营收 | -3.5% | 9.8% |
| 资本支出强度资本支出/营收 | 3.2% | 1.3% |
| 现金转化率经营现金流/净利润 | — | 3.77× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $573.0M |
8季度趋势，按日历期对齐
经营现金流CLFHSIC
| Q4 25 | $-13.0M | $381.0M | ||
| Q3 25 | $-143.0M | $174.0M | ||
| Q2 25 | $45.0M | $120.0M | ||
| Q1 25 | $-351.0M | $37.0M | ||
| Q4 24 | $-472.0M | $204.0M | ||
| Q3 24 | $-84.0M | $151.0M | ||
| Q2 24 | $519.0M | $296.0M | ||
| Q1 24 | $142.0M | $197.0M |
自由现金流CLFHSIC
| Q4 25 | $-153.0M | $338.0M | ||
| Q3 25 | $-300.0M | $141.0M | ||
| Q2 25 | $-67.0M | $88.0M | ||
| Q1 25 | $-503.0M | $6.0M | ||
| Q4 24 | $-677.0M | $168.0M | ||
| Q3 24 | $-235.0M | $117.0M | ||
| Q2 24 | $362.0M | $259.0M | ||
| Q1 24 | $-40.0M | $156.0M |
自由现金流率CLFHSIC
| Q4 25 | -3.5% | 9.8% | ||
| Q3 25 | -6.3% | 4.2% | ||
| Q2 25 | -1.4% | 2.7% | ||
| Q1 25 | -10.9% | 0.2% | ||
| Q4 24 | -15.7% | 5.3% | ||
| Q3 24 | -5.1% | 3.7% | ||
| Q2 24 | 7.1% | 8.3% | ||
| Q1 24 | -0.8% | 4.9% |
资本支出强度CLFHSIC
| Q4 25 | 3.2% | 1.3% | ||
| Q3 25 | 3.3% | 1.0% | ||
| Q2 25 | 2.3% | 1.0% | ||
| Q1 25 | 3.3% | 1.0% | ||
| Q4 24 | 4.7% | 1.1% | ||
| Q3 24 | 3.3% | 1.1% | ||
| Q2 24 | 3.1% | 1.2% | ||
| Q1 24 | 3.5% | 1.3% |
现金转化率CLFHSIC
| Q4 25 | — | 3.77× | ||
| Q3 25 | — | 1.72× | ||
| Q2 25 | — | 1.40× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 2.17× | ||
| Q3 24 | — | 1.53× | ||
| Q2 24 | 259.50× | 2.85× | ||
| Q1 24 | — | 2.12× |
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% |
HSIC
| Global Dental Merchandise | $1.2B | 35% |
| Global Medical | $1.1B | 31% |
| Global Dental Equipment | $536.0M | 16% |
| Global Specialty Products | $422.0M | 12% |
| Global Technology | $173.0M | 5% |
| Global Value Added Services | $64.0M | 2% |
| Equity Method Investee | $14.0M | 0% |
