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CLEVELAND-CLIFFS INC.（CLF）与史密斯菲尔德食品（SFD）财务数据对比。点击上方公司名可切换其他公司
CLEVELAND-CLIFFS INC.的季度营收约是史密斯菲尔德食品的1.1倍（$4.3B vs $3.8B），史密斯菲尔德食品净利率更高（6.6% vs -5.6%，领先12.1%），史密斯菲尔德食品同比增速更快（0.8% vs -0.3%），过去两年史密斯菲尔德食品的营收复合增速更高（6.8% 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。
史密斯菲尔德食品是全球规模最大的生猪养殖与猪肉加工企业，1936年由卢特父子创立，总部位于美国弗吉尼亚州史密斯菲尔德，现隶属于香港企业。公司在美国自营超500个农场，还与2000余家独立农场合作养殖生猪，业务覆盖墨西哥、波兰、德国等多个海外市场。
CLF vs SFD — 直观对比
营收规模更大
CLF
是对方的1.1倍
$3.8B
营收增速更快
SFD
高出1.0%
-0.3%
净利率更高
SFD
高出12.1%
-5.6%
两年增速更快
SFD
近两年复合增速
-8.9%
损益表 — Q4 FY2025 vs Q1 FY2027
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $3.8B |
| 净利润 | $-241.0M | $249.0M |
| 毛利率 | -5.0% | 13.4% |
| 营业利润率 | -7.9% | 8.8% |
| 净利率 | -5.6% | 6.6% |
| 营收同比 | -0.3% | 0.8% |
| 净利润同比 | 46.1% | 9.8% |
| 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CLFSFD
| Q1 26 | — | $3.8B | ||
| Q4 25 | $4.3B | $4.2B | ||
| Q3 25 | $4.7B | $3.7B | ||
| Q2 25 | $4.9B | $3.8B | ||
| Q1 25 | $4.6B | $3.8B | ||
| Q4 24 | $4.3B | $4.0B | ||
| Q3 24 | $4.6B | $3.3B | ||
| Q2 24 | $5.1B | — |
净利润CLFSFD
| Q1 26 | — | $249.0M | ||
| Q4 25 | $-241.0M | $327.0M | ||
| Q3 25 | $-251.0M | $248.0M | ||
| Q2 25 | $-470.0M | $188.0M | ||
| Q1 25 | $-483.0M | $224.0M | ||
| Q4 24 | $-447.0M | $205.0M | ||
| Q3 24 | $-242.0M | $291.0M | ||
| Q2 24 | $2.0M | — |
毛利率CLFSFD
| Q1 26 | — | 13.4% | ||
| Q4 25 | -5.0% | 14.2% | ||
| Q3 25 | -1.0% | 12.8% | ||
| Q2 25 | -4.2% | 13.2% | ||
| Q1 25 | -8.4% | 13.5% | ||
| Q4 24 | -6.3% | 13.5% | ||
| Q3 24 | -2.3% | 14.3% | ||
| Q2 24 | 3.2% | — |
营业利润率CLFSFD
| Q1 26 | — | 8.8% | ||
| Q4 25 | -7.9% | 9.5% | ||
| Q3 25 | -4.3% | 8.3% | ||
| Q2 25 | -10.1% | 6.9% | ||
| Q1 25 | -11.6% | 8.5% | ||
| Q4 24 | -10.8% | 8.5% | ||
| Q3 24 | -5.7% | 8.5% | ||
| Q2 24 | 0.1% | — |
净利率CLFSFD
| Q1 26 | — | 6.6% | ||
| Q4 25 | -5.6% | 7.7% | ||
| Q3 25 | -5.3% | 6.6% | ||
| Q2 25 | -9.5% | 5.0% | ||
| Q1 25 | -10.4% | 5.9% | ||
| Q4 24 | -10.3% | 5.2% | ||
| Q3 24 | -5.3% | 8.7% | ||
| Q2 24 | 0.0% | — |
每股收益（稀释后）CLFSFD
| Q1 26 | — | — | ||
| Q4 25 | — | $0.83 | ||
| Q3 25 | $-0.51 | $0.63 | ||
| Q2 25 | — | $0.48 | ||
| Q1 25 | — | $0.57 | ||
| Q4 24 | $-0.91 | $0.54 | ||
| Q3 24 | $-0.52 | $0.77 | ||
| Q2 24 | $0.00 | — |
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 | $1.4B |
| 总债务越低越好 | $7.3B | — |
| 股东权益账面价值 | $6.1B | $6.9B |
| 总资产 | $20.0B | $12.0B |
| 负债/权益比越低杠杆越低 | 1.19× | — |
8季度趋势，按日历期对齐
现金及短期投资CLFSFD
| Q1 26 | — | $1.4B | ||
| Q4 25 | $57.0M | — | ||
| Q3 25 | $66.0M | — | ||
| Q2 25 | $61.0M | — | ||
| Q1 25 | $57.0M | — | ||
| Q4 24 | $54.0M | — | ||
| Q3 24 | $39.0M | — | ||
| Q2 24 | $110.0M | — |
总债务CLFSFD
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | $2.0B | ||
| Q3 25 | $8.0B | $2.0B | ||
| Q2 25 | $7.7B | $2.0B | ||
| Q1 25 | $7.6B | $2.0B | ||
| Q4 24 | $7.1B | $2.0B | ||
| Q3 24 | $3.8B | — | ||
| Q2 24 | $3.5B | — |
股东权益CLFSFD
| Q1 26 | — | $6.9B | ||
| Q4 25 | $6.1B | $6.8B | ||
| Q3 25 | $5.5B | $6.5B | ||
| Q2 25 | $5.8B | $6.3B | ||
| Q1 25 | $6.3B | $6.2B | ||
| Q4 24 | $6.7B | $5.8B | ||
| Q3 24 | $6.9B | — | ||
| Q2 24 | $7.1B | — |
总资产CLFSFD
| Q1 26 | — | $12.0B | ||
| Q4 25 | $20.0B | $12.2B | ||
| Q3 25 | $20.3B | $11.5B | ||
| Q2 25 | $20.5B | $11.2B | ||
| Q1 25 | $20.8B | $11.1B | ||
| Q4 24 | $20.9B | $11.1B | ||
| Q3 24 | $16.8B | — | ||
| Q2 24 | $16.9B | — |
负债/权益比CLFSFD
| Q1 26 | — | — | ||
| Q4 25 | 1.19× | 0.29× | ||
| Q3 25 | 1.47× | 0.31× | ||
| Q2 25 | 1.33× | 0.32× | ||
| Q1 25 | 1.22× | 0.32× | ||
| Q4 24 | 1.06× | 0.34× | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.49× | — |
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 | — |
| 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% | 2.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 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CLFSFD
| Q1 26 | — | — | ||
| Q4 25 | $-13.0M | $938.0M | ||
| Q3 25 | $-143.0M | $13.0M | ||
| Q2 25 | $45.0M | $274.0M | ||
| Q1 25 | $-351.0M | $-166.0M | ||
| Q4 24 | $-472.0M | — | ||
| Q3 24 | $-84.0M | — | ||
| Q2 24 | $519.0M | — |
自由现金流CLFSFD
| Q1 26 | — | — | ||
| Q4 25 | $-153.0M | $842.0M | ||
| Q3 25 | $-300.0M | $-75.0M | ||
| Q2 25 | $-67.0M | $196.0M | ||
| Q1 25 | $-503.0M | $-245.0M | ||
| Q4 24 | $-677.0M | — | ||
| Q3 24 | $-235.0M | — | ||
| Q2 24 | $362.0M | — |
自由现金流率CLFSFD
| Q1 26 | — | — | ||
| Q4 25 | -3.5% | 19.9% | ||
| Q3 25 | -6.3% | -2.0% | ||
| Q2 25 | -1.4% | 5.2% | ||
| Q1 25 | -10.9% | -6.5% | ||
| Q4 24 | -15.7% | — | ||
| Q3 24 | -5.1% | — | ||
| Q2 24 | 7.1% | — |
资本支出强度CLFSFD
| Q1 26 | — | 2.3% | ||
| Q4 25 | 3.2% | 2.3% | ||
| Q3 25 | 3.3% | 2.3% | ||
| Q2 25 | 2.3% | 2.1% | ||
| Q1 25 | 3.3% | 2.1% | ||
| Q4 24 | 4.7% | 2.1% | ||
| Q3 24 | 3.3% | 2.8% | ||
| Q2 24 | 3.1% | — |
现金转化率CLFSFD
| Q1 26 | — | — | ||
| Q4 25 | — | 2.87× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 1.46× | ||
| Q1 25 | — | -0.74× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 259.50× | — |
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% |
SFD
| Packaged Meats | $2.1B | 57% |
| Other | $863.0M | 23% |
| Hog Production | $769.0M | 20% |
| inter-segment sales eliminations | $19.0M | 1% |
