vs
CLEVELAND-CLIFFS INC.（CLF）与KLA Corporation（KLAC）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KLA Corporation的1.3倍（$4.3B vs $3.3B），KLA Corporation净利率更高（34.7% vs -5.6%，领先40.3%），KLA Corporation同比增速更快（7.2% vs -0.3%），KLA Corporation自由现金流更多（$1.3B vs $-153.0M），过去两年KLA Corporation的营收复合增速更高（18.2% 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。
KLA Corporation是总部位于美国加利福尼亚州米尔皮塔斯的企业，主营晶圆制造设备，为半导体及相关纳米电子行业提供过程控制与良率管理系统，产品及服务覆盖晶圆、光罩、集成电路、封装生产从研发到批量制造的全流程。
CLF vs KLAC — 直观对比
营收规模更大
CLF
是对方的1.3倍
$3.3B
营收增速更快
KLAC
高出7.4%
-0.3%
净利率更高
KLAC
高出40.3%
-5.6%
自由现金流更多
KLAC
多$1.4B
$-153.0M
两年增速更快
KLAC
近两年复合增速
-8.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $3.3B |
| 净利润 | $-241.0M | $1.1B |
| 毛利率 | -5.0% | 61.4% |
| 营业利润率 | -7.9% | — |
| 净利率 | -5.6% | 34.7% |
| 营收同比 | -0.3% | 7.2% |
| 净利润同比 | 46.1% | 39.0% |
| 每股收益（稀释后） | — | $8.68 |
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CLFKLAC
| Q4 25 | $4.3B | $3.3B | ||
| Q3 25 | $4.7B | $3.2B | ||
| Q2 25 | $4.9B | $3.2B | ||
| Q1 25 | $4.6B | $3.1B | ||
| Q4 24 | $4.3B | $3.1B | ||
| Q3 24 | $4.6B | $2.8B | ||
| Q2 24 | $5.1B | $2.6B | ||
| Q1 24 | $5.2B | $2.4B |
净利润CLFKLAC
| Q4 25 | $-241.0M | $1.1B | ||
| Q3 25 | $-251.0M | $1.1B | ||
| Q2 25 | $-470.0M | $1.2B | ||
| Q1 25 | $-483.0M | $1.1B | ||
| Q4 24 | $-447.0M | $824.5M | ||
| Q3 24 | $-242.0M | $945.9M | ||
| Q2 24 | $2.0M | $836.4M | ||
| Q1 24 | $-67.0M | $601.5M |
毛利率CLFKLAC
| Q4 25 | -5.0% | 61.4% | ||
| Q3 25 | -1.0% | 61.3% | ||
| Q2 25 | -4.2% | 62.0% | ||
| Q1 25 | -8.4% | 61.6% | ||
| Q4 24 | -6.3% | 60.3% | ||
| Q3 24 | -2.3% | 59.6% | ||
| Q2 24 | 3.2% | 60.7% | ||
| Q1 24 | 5.5% | 57.9% |
营业利润率CLFKLAC
| Q4 25 | -7.9% | — | ||
| Q3 25 | -4.3% | — | ||
| Q2 25 | -10.1% | 41.9% | ||
| Q1 25 | -11.6% | 41.3% | ||
| Q4 24 | -10.8% | 31.6% | ||
| Q3 24 | -5.7% | 38.0% | ||
| Q2 24 | 0.1% | 36.8% | ||
| Q1 24 | -0.7% | 29.7% |
净利率CLFKLAC
| Q4 25 | -5.6% | 34.7% | ||
| Q3 25 | -5.3% | 34.9% | ||
| Q2 25 | -9.5% | 37.9% | ||
| Q1 25 | -10.4% | 35.5% | ||
| Q4 24 | -10.3% | 26.8% | ||
| Q3 24 | -5.3% | 33.3% | ||
| Q2 24 | 0.0% | 32.6% | ||
| Q1 24 | -1.3% | 25.5% |
每股收益（稀释后）CLFKLAC
| Q4 25 | — | $8.68 | ||
| Q3 25 | $-0.51 | $8.47 | ||
| Q2 25 | — | $9.04 | ||
| Q1 25 | — | $8.16 | ||
| Q4 24 | $-0.91 | $6.16 | ||
| Q3 24 | $-0.52 | $7.01 | ||
| Q2 24 | $0.00 | $6.16 | ||
| Q1 24 | $-0.14 | $4.43 |
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 | $2.5B |
| 总债务越低越好 | $7.3B | $5.9B |
| 股东权益账面价值 | $6.1B | $5.5B |
| 总资产 | $20.0B | $16.7B |
| 负债/权益比越低杠杆越低 | 1.19× | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资CLFKLAC
| Q4 25 | $57.0M | $2.5B | ||
| Q3 25 | $66.0M | $1.9B | ||
| Q2 25 | $61.0M | $2.1B | ||
| Q1 25 | $57.0M | $1.9B | ||
| Q4 24 | $54.0M | $1.8B | ||
| Q3 24 | $39.0M | $2.0B | ||
| Q2 24 | $110.0M | $2.0B | ||
| Q1 24 | $30.0M | $1.8B |
总债务CLFKLAC
| Q4 25 | $7.3B | $5.9B | ||
| Q3 25 | $8.0B | $5.9B | ||
| Q2 25 | $7.7B | $5.9B | ||
| Q1 25 | $7.6B | $5.9B | ||
| Q4 24 | $7.1B | $5.9B | ||
| Q3 24 | $3.8B | $5.9B | ||
| Q2 24 | $3.5B | $5.9B | ||
| Q1 24 | $3.7B | $5.9B |
股东权益CLFKLAC
| Q4 25 | $6.1B | $5.5B | ||
| Q3 25 | $5.5B | $5.0B | ||
| Q2 25 | $5.8B | $4.7B | ||
| Q1 25 | $6.3B | $4.0B | ||
| Q4 24 | $6.7B | $3.6B | ||
| Q3 24 | $6.9B | $3.6B | ||
| Q2 24 | $7.1B | $3.4B | ||
| Q1 24 | $7.2B | $3.1B |
总资产CLFKLAC
| Q4 25 | $20.0B | $16.7B | ||
| Q3 25 | $20.3B | $16.3B | ||
| Q2 25 | $20.5B | $16.1B | ||
| Q1 25 | $20.8B | $15.2B | ||
| Q4 24 | $20.9B | $15.0B | ||
| Q3 24 | $16.8B | $15.7B | ||
| Q2 24 | $16.9B | $15.4B | ||
| Q1 24 | $17.2B | $15.0B |
负债/权益比CLFKLAC
| Q4 25 | 1.19× | 1.08× | ||
| Q3 25 | 1.47× | 1.18× | ||
| Q2 25 | 1.33× | 1.25× | ||
| Q1 25 | 1.22× | 1.47× | ||
| Q4 24 | 1.06× | 1.64× | ||
| Q3 24 | 0.55× | 1.65× | ||
| Q2 24 | 0.49× | 1.75× | ||
| Q1 24 | 0.51× | 1.90× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $1.3B |
| 自由现金流率自由现金流/营收 | -3.5% | 38.3% |
| 资本支出强度资本支出/营收 | 3.2% | 3.2% |
| 现金转化率经营现金流/净利润 | — | 1.19× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $4.4B |
8季度趋势，按日历期对齐
经营现金流CLFKLAC
| Q4 25 | $-13.0M | $1.4B | ||
| Q3 25 | $-143.0M | $1.2B | ||
| Q2 25 | $45.0M | $1.2B | ||
| Q1 25 | $-351.0M | $1.1B | ||
| Q4 24 | $-472.0M | $849.5M | ||
| Q3 24 | $-84.0M | $995.2M | ||
| Q2 24 | $519.0M | $892.6M | ||
| Q1 24 | $142.0M | $910.0M |
自由现金流CLFKLAC
| Q4 25 | $-153.0M | $1.3B | ||
| Q3 25 | $-300.0M | $1.1B | ||
| Q2 25 | $-67.0M | $1.1B | ||
| Q1 25 | $-503.0M | $990.0M | ||
| Q4 24 | $-677.0M | $757.2M | ||
| Q3 24 | $-235.0M | $934.8M | ||
| Q2 24 | $362.0M | $831.9M | ||
| Q1 24 | $-40.0M | $838.2M |
自由现金流率CLFKLAC
| Q4 25 | -3.5% | 38.3% | ||
| Q3 25 | -6.3% | 33.2% | ||
| Q2 25 | -1.4% | 33.5% | ||
| Q1 25 | -10.9% | 32.3% | ||
| Q4 24 | -15.7% | 24.6% | ||
| Q3 24 | -5.1% | 32.9% | ||
| Q2 24 | 7.1% | 32.4% | ||
| Q1 24 | -0.8% | 35.5% |
资本支出强度CLFKLAC
| Q4 25 | 3.2% | 3.2% | ||
| Q3 25 | 3.3% | 3.0% | ||
| Q2 25 | 2.3% | 3.2% | ||
| Q1 25 | 3.3% | 2.7% | ||
| Q4 24 | 4.7% | 3.0% | ||
| Q3 24 | 3.3% | 2.1% | ||
| Q2 24 | 3.1% | 2.4% | ||
| Q1 24 | 3.5% | 3.0% |
现金转化率CLFKLAC
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 1.04× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.05× | ||
| Q2 24 | 259.50× | 1.07× | ||
| Q1 24 | — | 1.51× |
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% |
KLAC
| Wafer Inspection | $1.6B | 48% |
| Services | $786.1M | 24% |
| Patterning | $696.2M | 21% |
| Specialty Semiconductor Process | $121.6M | 4% |
| PCB And Component Inspection | $80.3M | 2% |
| Other Revenue | $40.2M | 1% |
