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CLEVELAND-CLIFFS INC.（CLF）与西南航空（LUV）财务数据对比。点击上方公司名可切换其他公司
西南航空的季度营收约是CLEVELAND-CLIFFS INC.的1.7倍（$7.2B vs $4.3B），西南航空净利率更高（3.1% vs -5.6%，领先8.7%），西南航空同比增速更快（12.8% vs -0.3%），过去两年西南航空的营收复合增速更高（-0.7% 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。
西南航空是美国知名低成本航空公司，总部位于得克萨斯州达拉斯市洛夫菲尔德片区。截至2024年，按客运量计算其为北美第四大航空公司，旗下机队全部采用波音737机型，运营航线覆盖美国42个州、华盛顿哥伦比亚特区的100余个目的地。
CLF vs LUV — 直观对比
营收规模更大
LUV
是对方的1.7倍
$4.3B
营收增速更快
LUV
高出13.0%
-0.3%
净利率更高
LUV
高出8.7%
-5.6%
两年增速更快
LUV
近两年复合增速
-8.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $7.2B |
| 净利润 | $-241.0M | $227.0M |
| 毛利率 | -5.0% | — |
| 营业利润率 | -7.9% | — |
| 净利率 | -5.6% | 3.1% |
| 营收同比 | -0.3% | 12.8% |
| 净利润同比 | 46.1% | 252.3% |
| 每股收益（稀释后） | — | $0.45 |
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CLFLUV
| Q1 26 | — | $7.2B | ||
| Q4 25 | $4.3B | $7.4B | ||
| Q3 25 | $4.7B | $6.9B | ||
| Q2 25 | $4.9B | $7.2B | ||
| Q1 25 | $4.6B | $6.4B | ||
| Q4 24 | $4.3B | $6.9B | ||
| Q3 24 | $4.6B | $6.9B | ||
| Q2 24 | $5.1B | $7.4B |
净利润CLFLUV
| Q1 26 | — | $227.0M | ||
| Q4 25 | $-241.0M | $323.0M | ||
| Q3 25 | $-251.0M | $54.0M | ||
| Q2 25 | $-470.0M | $213.0M | ||
| Q1 25 | $-483.0M | $-149.0M | ||
| Q4 24 | $-447.0M | $262.0M | ||
| Q3 24 | $-242.0M | $67.0M | ||
| Q2 24 | $2.0M | $367.0M |
毛利率CLFLUV
| Q1 26 | — | — | ||
| Q4 25 | -5.0% | — | ||
| Q3 25 | -1.0% | — | ||
| Q2 25 | -4.2% | — | ||
| Q1 25 | -8.4% | — | ||
| Q4 24 | -6.3% | — | ||
| Q3 24 | -2.3% | — | ||
| Q2 24 | 3.2% | — |
营业利润率CLFLUV
| Q1 26 | — | — | ||
| Q4 25 | -7.9% | 5.3% | ||
| Q3 25 | -4.3% | 0.5% | ||
| Q2 25 | -10.1% | 3.1% | ||
| Q1 25 | -11.6% | -3.5% | ||
| Q4 24 | -10.8% | 4.0% | ||
| Q3 24 | -5.7% | 0.6% | ||
| Q2 24 | 0.1% | 5.4% |
净利率CLFLUV
| Q1 26 | — | 3.1% | ||
| Q4 25 | -5.6% | 4.3% | ||
| Q3 25 | -5.3% | 0.8% | ||
| Q2 25 | -9.5% | 2.9% | ||
| Q1 25 | -10.4% | -2.3% | ||
| Q4 24 | -10.3% | 3.8% | ||
| Q3 24 | -5.3% | 1.0% | ||
| Q2 24 | 0.0% | 5.0% |
每股收益（稀释后）CLFLUV
| Q1 26 | — | $0.45 | ||
| Q4 25 | — | $0.56 | ||
| Q3 25 | $-0.51 | $0.10 | ||
| Q2 25 | — | $0.39 | ||
| Q1 25 | — | $-0.26 | ||
| Q4 24 | $-0.91 | $0.46 | ||
| Q3 24 | $-0.52 | $0.11 | ||
| Q2 24 | $0.00 | $0.58 |
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 | $3.3B |
| 总债务越低越好 | $7.3B | $5.4B |
| 股东权益账面价值 | $6.1B | $6.9B |
| 总资产 | $20.0B | $20.4B |
| 负债/权益比越低杠杆越低 | 1.19× | 0.78× |
8季度趋势，按日历期对齐
现金及短期投资CLFLUV
| Q1 26 | — | $3.3B | ||
| Q4 25 | $57.0M | $3.2B | ||
| Q3 25 | $66.0M | $3.0B | ||
| Q2 25 | $61.0M | $3.8B | ||
| Q1 25 | $57.0M | $8.3B | ||
| Q4 24 | $54.0M | $8.7B | ||
| Q3 24 | $39.0M | $9.4B | ||
| Q2 24 | $110.0M | $10.0B |
总债务CLFLUV
| Q1 26 | — | $5.4B | ||
| Q4 25 | $7.3B | $4.6B | ||
| Q3 25 | $8.0B | $4.1B | ||
| Q2 25 | $7.7B | $4.1B | ||
| Q1 25 | $7.6B | $4.1B | ||
| Q4 24 | $7.1B | $5.1B | ||
| Q3 24 | $3.8B | $5.1B | ||
| Q2 24 | $3.5B | $5.1B |
股东权益CLFLUV
| Q1 26 | — | $6.9B | ||
| Q4 25 | $6.1B | $8.0B | ||
| Q3 25 | $5.5B | $7.8B | ||
| Q2 25 | $5.8B | $8.0B | ||
| Q1 25 | $6.3B | $9.4B | ||
| Q4 24 | $6.7B | $10.3B | ||
| Q3 24 | $6.9B | $10.4B | ||
| Q2 24 | $7.1B | $10.5B |
总资产CLFLUV
| Q1 26 | — | $20.4B | ||
| Q4 25 | $20.0B | $29.1B | ||
| Q3 25 | $20.3B | $28.3B | ||
| Q2 25 | $20.5B | $28.7B | ||
| Q1 25 | $20.8B | $33.2B | ||
| Q4 24 | $20.9B | $33.8B | ||
| Q3 24 | $16.8B | $34.8B | ||
| Q2 24 | $16.9B | $35.6B |
负债/权益比CLFLUV
| Q1 26 | — | 0.78× | ||
| Q4 25 | 1.19× | 0.57× | ||
| Q3 25 | 1.47× | 0.52× | ||
| Q2 25 | 1.33× | 0.51× | ||
| Q1 25 | 1.22× | 0.44× | ||
| Q4 24 | 1.06× | 0.49× | ||
| Q3 24 | 0.55× | 0.49× | ||
| Q2 24 | 0.49× | 0.48× |
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 | — |
| 自由现金流率自由现金流/营收 | -3.5% | — |
| 资本支出强度资本支出/营收 | 3.2% | 8.7% |
| 现金转化率经营现金流/净利润 | — | 6.25× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | — |
8季度趋势，按日历期对齐
经营现金流CLFLUV
| Q1 26 | — | $1.4B | ||
| Q4 25 | $-13.0M | $294.0M | ||
| Q3 25 | $-143.0M | $287.0M | ||
| Q2 25 | $45.0M | $401.0M | ||
| Q1 25 | $-351.0M | $860.0M | ||
| Q4 24 | $-472.0M | $476.0M | ||
| Q3 24 | $-84.0M | $113.0M | ||
| Q2 24 | $519.0M | $-23.0M |
自由现金流CLFLUV
| Q1 26 | — | — | ||
| Q4 25 | $-153.0M | $-565.0M | ||
| Q3 25 | $-300.0M | $-391.0M | ||
| Q2 25 | $-67.0M | $-234.0M | ||
| Q1 25 | $-503.0M | $359.0M | ||
| Q4 24 | $-677.0M | $16.0M | ||
| Q3 24 | $-235.0M | $-404.0M | ||
| Q2 24 | $362.0M | $-517.0M |
自由现金流率CLFLUV
| Q1 26 | — | — | ||
| Q4 25 | -3.5% | -7.6% | ||
| Q3 25 | -6.3% | -5.6% | ||
| Q2 25 | -1.4% | -3.2% | ||
| Q1 25 | -10.9% | 5.6% | ||
| Q4 24 | -15.7% | 0.2% | ||
| Q3 24 | -5.1% | -5.9% | ||
| Q2 24 | 7.1% | -7.0% |
资本支出强度CLFLUV
| Q1 26 | — | 8.7% | ||
| Q4 25 | 3.2% | 11.5% | ||
| Q3 25 | 3.3% | 9.8% | ||
| Q2 25 | 2.3% | 8.8% | ||
| Q1 25 | 3.3% | 7.8% | ||
| Q4 24 | 4.7% | 6.6% | ||
| Q3 24 | 3.3% | 7.5% | ||
| Q2 24 | 3.1% | 6.7% |
现金转化率CLFLUV
| Q1 26 | — | 6.25× | ||
| Q4 25 | — | 0.91× | ||
| Q3 25 | — | 5.31× | ||
| Q2 25 | — | 1.88× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.82× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | 259.50× | -0.06× |
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% |
LUV
| Passenger | $6.6B | 91% |
| Other | $614.0M | 8% |
| Freight | $44.0M | 1% |
