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CLEVELAND-CLIFFS INC.（CLF）与Constellation Brands（STZ）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Constellation Brands的1.9倍（$4.3B vs $2.2B），Constellation Brands净利率更高（22.6% vs -5.6%，领先28.2%），CLEVELAND-CLIFFS INC.同比增速更快（-0.3% vs -9.8%），Constellation Brands自由现金流更多（$370.9M vs $-153.0M），过去两年Constellation Brands的营收复合增速更高（1.9% 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。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
CLF vs STZ — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $2.2B |
| 净利润 | $-241.0M | $502.8M |
| 毛利率 | -5.0% | 53.2% |
| 营业利润率 | -7.9% | 31.1% |
| 净利率 | -5.6% | 22.6% |
| 营收同比 | -0.3% | -9.8% |
| 净利润同比 | 46.1% | -18.4% |
| 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
| Q4 25 | $4.3B | $2.2B | ||
| Q3 25 | $4.7B | $2.5B | ||
| Q2 25 | $4.9B | $2.5B | ||
| Q1 25 | $4.6B | $2.2B | ||
| Q4 24 | $4.3B | $2.5B | ||
| Q3 24 | $4.6B | $2.9B | ||
| Q2 24 | $5.1B | $2.7B | ||
| Q1 24 | $5.2B | $2.1B |
| Q4 25 | $-241.0M | $502.8M | ||
| Q3 25 | $-251.0M | $466.0M | ||
| Q2 25 | $-470.0M | $516.1M | ||
| Q1 25 | $-483.0M | $-375.3M | ||
| Q4 24 | $-447.0M | $615.9M | ||
| Q3 24 | $-242.0M | $-1.2B | ||
| Q2 24 | $2.0M | $877.0M | ||
| Q1 24 | $-67.0M | $392.4M |
| Q4 25 | -5.0% | 53.2% | ||
| Q3 25 | -1.0% | 52.8% | ||
| Q2 25 | -4.2% | 50.4% | ||
| Q1 25 | -8.4% | 51.5% | ||
| Q4 24 | -6.3% | 52.1% | ||
| Q3 24 | -2.3% | 51.8% | ||
| Q2 24 | 3.2% | 52.7% | ||
| Q1 24 | 5.5% | 48.6% |
| Q4 25 | -7.9% | 31.1% | ||
| Q3 25 | -4.3% | 35.2% | ||
| Q2 25 | -10.1% | 28.4% | ||
| Q1 25 | -11.6% | -6.9% | ||
| Q4 24 | -10.8% | 32.2% | ||
| Q3 24 | -5.7% | -42.1% | ||
| Q2 24 | 0.1% | 35.4% | ||
| Q1 24 | -0.7% | 29.4% |
| Q4 25 | -5.6% | 22.6% | ||
| Q3 25 | -5.3% | 18.8% | ||
| Q2 25 | -9.5% | 20.5% | ||
| Q1 25 | -10.4% | -17.3% | ||
| Q4 24 | -10.3% | 25.0% | ||
| Q3 24 | -5.3% | -41.1% | ||
| Q2 24 | 0.0% | 32.9% | ||
| Q1 24 | -1.3% | 18.3% |
| Q4 25 | — | — | ||
| Q3 25 | $-0.51 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-0.91 | — | ||
| Q3 24 | $-0.52 | — | ||
| Q2 24 | $0.00 | — | ||
| Q1 24 | $-0.14 | — |
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 | $152.4M |
| 总债务越低越好 | $7.3B | $10.3B |
| 股东权益账面价值 | $6.1B | $7.7B |
| 总资产 | $20.0B | $21.7B |
| 负债/权益比越低杠杆越低 | 1.19× | 1.33× |
8季度趋势，按日历期对齐
| Q4 25 | $57.0M | $152.4M | ||
| Q3 25 | $66.0M | $72.0M | ||
| Q2 25 | $61.0M | $73.9M | ||
| Q1 25 | $57.0M | $68.1M | ||
| Q4 24 | $54.0M | $73.7M | ||
| Q3 24 | $39.0M | $64.6M | ||
| Q2 24 | $110.0M | $73.8M | ||
| Q1 24 | $30.0M | $152.4M |
| Q4 25 | $7.3B | $10.3B | ||
| Q3 25 | $8.0B | $10.3B | ||
| Q2 25 | $7.7B | $11.2B | ||
| Q1 25 | $7.6B | $10.7B | ||
| Q4 24 | $7.1B | $10.7B | ||
| Q3 24 | $3.8B | $11.1B | ||
| Q2 24 | $3.5B | $11.1B | ||
| Q1 24 | $3.7B | $11.6B |
| Q4 25 | $6.1B | $7.7B | ||
| Q3 25 | $5.5B | $7.5B | ||
| Q2 25 | $5.8B | $7.3B | ||
| Q1 25 | $6.3B | $6.9B | ||
| Q4 24 | $6.7B | $7.8B | ||
| Q3 24 | $6.9B | $7.9B | ||
| Q2 24 | $7.1B | $10.3B | ||
| Q1 24 | $7.2B | $9.7B |
| Q4 25 | $20.0B | $21.7B | ||
| Q3 25 | $20.3B | $21.4B | ||
| Q2 25 | $20.5B | $22.3B | ||
| Q1 25 | $20.8B | $21.7B | ||
| Q4 24 | $20.9B | $22.8B | ||
| Q3 24 | $16.8B | $23.1B | ||
| Q2 24 | $16.9B | $26.1B | ||
| Q1 24 | $17.2B | $25.7B |
| Q4 25 | 1.19× | 1.33× | ||
| Q3 25 | 1.47× | 1.37× | ||
| Q2 25 | 1.33× | 1.54× | ||
| Q1 25 | 1.22× | 1.55× | ||
| Q4 24 | 1.06× | 1.37× | ||
| Q3 24 | 0.55× | 1.41× | ||
| Q2 24 | 0.49× | 1.08× | ||
| Q1 24 | 0.51× | 1.19× |
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 | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $370.9M |
| 自由现金流率自由现金流/营收 | -3.5% | 16.7% |
| 资本支出强度资本支出/营收 | 3.2% | 11.1% |
| 现金转化率经营现金流/净利润 | — | 1.23× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $1.8B |
8季度趋势，按日历期对齐
| Q4 25 | $-13.0M | $616.9M | ||
| Q3 25 | $-143.0M | $852.1M | ||
| Q2 25 | $45.0M | $637.2M | ||
| Q1 25 | $-351.0M | $594.7M | ||
| Q4 24 | $-472.0M | $685.2M | ||
| Q3 24 | $-84.0M | $1.2B | ||
| Q2 24 | $519.0M | $690.5M | ||
| Q1 24 | $142.0M | $433.2M |
| Q4 25 | $-153.0M | $370.9M | ||
| Q3 25 | $-300.0M | $634.8M | ||
| Q2 25 | $-67.0M | $444.4M | ||
| Q1 25 | $-503.0M | $312.1M | ||
| Q4 24 | $-677.0M | $456.8M | ||
| Q3 24 | $-235.0M | $854.0M | ||
| Q2 24 | $362.0M | $315.2M | ||
| Q1 24 | $-40.0M | $76.0M |
| Q4 25 | -3.5% | 16.7% | ||
| Q3 25 | -6.3% | 25.6% | ||
| Q2 25 | -1.4% | 17.7% | ||
| Q1 25 | -10.9% | 14.4% | ||
| Q4 24 | -15.7% | 18.5% | ||
| Q3 24 | -5.1% | 29.3% | ||
| Q2 24 | 7.1% | 11.8% | ||
| Q1 24 | -0.8% | 3.6% |
| Q4 25 | 3.2% | 11.1% | ||
| Q3 25 | 3.3% | 8.8% | ||
| Q2 25 | 2.3% | 7.7% | ||
| Q1 25 | 3.3% | 13.1% | ||
| Q4 24 | 4.7% | 9.3% | ||
| Q3 24 | 3.3% | 11.2% | ||
| Q2 24 | 3.1% | 14.1% | ||
| Q1 24 | 3.5% | 16.7% |
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | 1.83× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | — | — | ||
| Q2 24 | 259.50× | 0.79× | ||
| Q1 24 | — | 1.10× |
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% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
