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CLEVELAND-CLIFFS INC.（CLF）与南方铜业（SCCO）财务数据对比。点击上方公司名可切换其他公司
CLEVELAND-CLIFFS INC.的季度营收约是南方铜业的1.1倍（$4.3B vs $3.9B）。南方铜业净利率更高（33.9% vs -5.6%，领先39.5%）。南方铜业同比增速更快（39.0% vs -0.3%）。南方铜业自由现金流更多（$1.1B vs $-153.0M）。过去两年南方铜业的营收复合增速更高（22.0% 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。
南方铜业注册地为美国特拉华州，总部位于亚利桑那州凤凰城，在秘鲁、墨西哥两地持有多座铜矿、冶炼厂及精炼厂，旗下拥有夸霍内、托克帕拉、布埃纳维斯塔等知名矿山。2024年公司铜产量达21亿磅，同时产出银、钼、锌等多种金属。
CLF vs SCCO — 直观对比
营收规模更大
CLF
是对方的1.1倍
$3.9B
营收增速更快
SCCO
高出39.3%
-0.3%
净利率更高
SCCO
高出39.5%
-5.6%
自由现金流更多
SCCO
多$1.2B
$-153.0M
两年增速更快
SCCO
近两年复合增速
-8.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $3.9B |
| 净利润 | $-241.0M | $1.3B |
| 毛利率 | -5.0% | 62.0% |
| 营业利润率 | -7.9% | 54.5% |
| 净利率 | -5.6% | 33.9% |
| 营收同比 | -0.3% | 39.0% |
| 净利润同比 | 46.1% | 64.7% |
| 每股收益（稀释后） | — | $1.49 |
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CLFSCCO
| Q4 25 | $4.3B | $3.9B | ||
| Q3 25 | $4.7B | $3.4B | ||
| Q2 25 | $4.9B | $3.1B | ||
| Q1 25 | $4.6B | $3.1B | ||
| Q4 24 | $4.3B | $2.8B | ||
| Q3 24 | $4.6B | $2.9B | ||
| Q2 24 | $5.1B | $3.1B | ||
| Q1 24 | $5.2B | $2.6B |
净利润CLFSCCO
| Q4 25 | $-241.0M | $1.3B | ||
| Q3 25 | $-251.0M | $1.1B | ||
| Q2 25 | $-470.0M | $976.7M | ||
| Q1 25 | $-483.0M | $949.1M | ||
| Q4 24 | $-447.0M | $796.2M | ||
| Q3 24 | $-242.0M | $899.8M | ||
| Q2 24 | $2.0M | $953.8M | ||
| Q1 24 | $-67.0M | $738.8M |
毛利率CLFSCCO
| Q4 25 | -5.0% | 62.0% | ||
| Q3 25 | -1.0% | 59.8% | ||
| Q2 25 | -4.2% | 60.3% | ||
| Q1 25 | -8.4% | 57.7% | ||
| Q4 24 | -6.3% | 56.5% | ||
| Q3 24 | -2.3% | 58.3% | ||
| Q2 24 | 3.2% | 59.9% | ||
| Q1 24 | 5.5% | 55.5% |
营业利润率CLFSCCO
| Q4 25 | -7.9% | 54.5% | ||
| Q3 25 | -4.3% | 52.4% | ||
| Q2 25 | -10.1% | 52.0% | ||
| Q1 25 | -11.6% | 49.2% | ||
| Q4 24 | -10.8% | 47.0% | ||
| Q3 24 | -5.7% | 49.5% | ||
| Q2 24 | 0.1% | 51.5% | ||
| Q1 24 | -0.7% | 45.8% |
净利率CLFSCCO
| Q4 25 | -5.6% | 33.9% | ||
| Q3 25 | -5.3% | 32.9% | ||
| Q2 25 | -9.5% | 32.0% | ||
| Q1 25 | -10.4% | 30.4% | ||
| Q4 24 | -10.3% | 28.6% | ||
| Q3 24 | -5.3% | 30.7% | ||
| Q2 24 | 0.0% | 30.6% | ||
| Q1 24 | -1.3% | 28.4% |
每股收益（稀释后）CLFSCCO
| Q4 25 | — | $1.49 | ||
| Q3 25 | $-0.51 | $1.35 | ||
| Q2 25 | — | $1.21 | ||
| Q1 25 | — | $1.19 | ||
| Q4 24 | $-0.91 | $1.02 | ||
| Q3 24 | $-0.52 | $1.15 | ||
| Q2 24 | $0.00 | $1.22 | ||
| Q1 24 | $-0.14 | $0.95 |
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 | $4.9B |
| 总债务越低越好 | $7.3B | $6.8B |
| 股东权益账面价值 | $6.1B | $11.0B |
| 总资产 | $20.0B | $21.4B |
| 负债/权益比越低杠杆越低 | 1.19× | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资CLFSCCO
| Q4 25 | $57.0M | $4.9B | ||
| Q3 25 | $66.0M | $4.5B | ||
| Q2 25 | $61.0M | $4.0B | ||
| Q1 25 | $57.0M | $4.3B | ||
| Q4 24 | $54.0M | $3.5B | ||
| Q3 24 | $39.0M | $3.0B | ||
| Q2 24 | $110.0M | $2.2B | ||
| Q1 24 | $30.0M | $1.6B |
总债务CLFSCCO
| Q4 25 | $7.3B | $6.8B | ||
| Q3 25 | $8.0B | — | ||
| Q2 25 | $7.7B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.1B | $6.3B | ||
| Q3 24 | $3.8B | — | ||
| Q2 24 | $3.5B | $6.3B | ||
| Q1 24 | $3.7B | $6.3B |
股东权益CLFSCCO
| Q4 25 | $6.1B | $11.0B | ||
| Q3 25 | $5.5B | $10.4B | ||
| Q2 25 | $5.8B | $10.0B | ||
| Q1 25 | $6.3B | $9.6B | ||
| Q4 24 | $6.7B | $9.2B | ||
| Q3 24 | $6.9B | $8.9B | ||
| Q2 24 | $7.1B | $8.5B | ||
| Q1 24 | $7.2B | $7.5B |
总资产CLFSCCO
| Q4 25 | $20.0B | $21.4B | ||
| Q3 25 | $20.3B | $20.3B | ||
| Q2 25 | $20.5B | $19.6B | ||
| Q1 25 | $20.8B | $19.8B | ||
| Q4 24 | $20.9B | $18.7B | ||
| Q3 24 | $16.8B | $18.4B | ||
| Q2 24 | $16.9B | $17.8B | ||
| Q1 24 | $17.2B | $16.8B |
负债/权益比CLFSCCO
| Q4 25 | 1.19× | 0.61× | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 1.33× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.06× | 0.68× | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.49× | 0.74× | ||
| Q1 24 | 0.51× | 0.83× |
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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $1.1B |
| 自由现金流率自由现金流/营收 | -3.5% | 27.7% |
| 资本支出强度资本支出/营收 | 3.2% | 10.9% |
| 现金转化率经营现金流/净利润 | — | 1.14× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $3.4B |
8季度趋势，按日历期对齐
经营现金流CLFSCCO
| Q4 25 | $-13.0M | $1.5B | ||
| Q3 25 | $-143.0M | $1.6B | ||
| Q2 25 | $45.0M | $976.8M | ||
| Q1 25 | $-351.0M | $721.4M | ||
| Q4 24 | $-472.0M | $1.4B | ||
| Q3 24 | $-84.0M | $1.4B | ||
| Q2 24 | $519.0M | $962.1M | ||
| Q1 24 | $142.0M | $659.7M |
自由现金流CLFSCCO
| Q4 25 | $-153.0M | $1.1B | ||
| Q3 25 | $-300.0M | $1.2B | ||
| Q2 25 | $-67.0M | $741.1M | ||
| Q1 25 | $-503.0M | $403.6M | ||
| Q4 24 | $-677.0M | $1.1B | ||
| Q3 24 | $-235.0M | $1.2B | ||
| Q2 24 | $362.0M | $630.3M | ||
| Q1 24 | $-40.0M | $445.9M |
自由现金流率CLFSCCO
| Q4 25 | -3.5% | 27.7% | ||
| Q3 25 | -6.3% | 35.8% | ||
| Q2 25 | -1.4% | 24.3% | ||
| Q1 25 | -10.9% | 12.9% | ||
| Q4 24 | -15.7% | 40.4% | ||
| Q3 24 | -5.1% | 40.7% | ||
| Q2 24 | 7.1% | 20.2% | ||
| Q1 24 | -0.8% | 17.2% |
资本支出强度CLFSCCO
| Q4 25 | 3.2% | 10.9% | ||
| Q3 25 | 3.3% | 10.3% | ||
| Q2 25 | 2.3% | 7.7% | ||
| Q1 25 | 3.3% | 10.2% | ||
| Q4 24 | 4.7% | 8.5% | ||
| Q3 24 | 3.3% | 8.4% | ||
| Q2 24 | 3.1% | 10.6% | ||
| Q1 24 | 3.5% | 8.2% |
现金转化率CLFSCCO
| Q4 25 | — | 1.14× | ||
| Q3 25 | — | 1.40× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.76× | ||
| Q4 24 | — | 1.71× | ||
| Q3 24 | — | 1.60× | ||
| Q2 24 | 259.50× | 1.01× | ||
| Q1 24 | — | 0.89× |
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% |
SCCO
| Other | $1.3B | 32% |
| MX | $726.4M | 19% |
| CH | $560.4M | 14% |
| PE | $218.8M | 6% |
| Silver | $201.1M | 5% |
| BR | $157.9M | 4% |
| CL | $149.0M | 4% |
| Molybdenum | $143.3M | 4% |
| ES | $130.8M | 3% |
| Mexican IMMSA Unit | $129.8M | 3% |
| IT | $107.1M | 3% |
| Zinc | $88.8M | 2% |
