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CLEVELAND-CLIFFS INC.（CLF）与United Rentals（URI）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United Rentals的1.1倍（$4.3B vs $4.0B），United Rentals净利率更高（13.3% vs -5.6%，领先18.9%），United Rentals同比增速更快（7.2% vs -0.3%），United Rentals自由现金流更多（$1.1B vs $-153.0M），过去两年United Rentals的营收复合增速更高（114.0% 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。
United Rentals是美国设备租赁企业，2022年占据北美市场约16%的份额。截至2025年，该公司拥有全球规模最大的租赁车队，覆盖约4800类设备，原始设备成本总计约205.9亿美元，在全球共设1625个营业网点，业务覆盖北美、欧洲、澳大利亚及新西兰。
CLF vs URI — 直观对比
营收规模更大
CLF
是对方的1.1倍
$4.0B
营收增速更快
URI
高出7.4%
-0.3%
净利率更高
URI
高出18.9%
-5.6%
自由现金流更多
URI
多$1.2B
$-153.0M
两年增速更快
URI
近两年复合增速
-8.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $4.0B |
| 净利润 | $-241.0M | $531.0M |
| 毛利率 | -5.0% | 36.9% |
| 营业利润率 | -7.9% | 21.8% |
| 净利率 | -5.6% | 13.3% |
| 营收同比 | -0.3% | 7.2% |
| 净利润同比 | 46.1% | 2.5% |
| 每股收益（稀释后） | — | $8.43 |
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CLFURI
| Q1 26 | — | $4.0B | ||
| Q4 25 | $4.3B | $992.0M | ||
| Q3 25 | $4.7B | $938.0M | ||
| Q2 25 | $4.9B | $872.0M | ||
| Q1 25 | $4.6B | $893.0M | ||
| Q4 24 | $4.3B | $1.0B | ||
| Q3 24 | $4.6B | $874.0M | ||
| Q2 24 | $5.1B | $870.0M |
净利润CLFURI
| Q1 26 | — | $531.0M | ||
| Q4 25 | $-241.0M | $653.0M | ||
| Q3 25 | $-251.0M | $701.0M | ||
| Q2 25 | $-470.0M | $622.0M | ||
| Q1 25 | $-483.0M | $518.0M | ||
| Q4 24 | $-447.0M | $689.0M | ||
| Q3 24 | $-242.0M | $708.0M | ||
| Q2 24 | $2.0M | $636.0M |
毛利率CLFURI
| Q1 26 | — | 36.9% | ||
| 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CLFURI
| Q1 26 | — | 21.8% | ||
| Q4 25 | -7.9% | — | ||
| Q3 25 | -4.3% | — | ||
| Q2 25 | -10.1% | — | ||
| Q1 25 | -11.6% | 90.0% | ||
| Q4 24 | -10.8% | — | ||
| Q3 24 | -5.7% | — | ||
| Q2 24 | 0.1% | — |
净利率CLFURI
| Q1 26 | — | 13.3% | ||
| Q4 25 | -5.6% | 65.8% | ||
| Q3 25 | -5.3% | 74.7% | ||
| Q2 25 | -9.5% | 71.3% | ||
| Q1 25 | -10.4% | 58.0% | ||
| Q4 24 | -10.3% | 67.6% | ||
| Q3 24 | -5.3% | 81.0% | ||
| Q2 24 | 0.0% | 73.1% |
每股收益（稀释后）CLFURI
| Q1 26 | — | $8.43 | ||
| Q4 25 | — | $10.20 | ||
| Q3 25 | $-0.51 | $10.91 | ||
| Q2 25 | — | $9.59 | ||
| Q1 25 | — | $7.91 | ||
| Q4 24 | $-0.91 | $10.41 | ||
| Q3 24 | $-0.52 | $10.70 | ||
| Q2 24 | $0.00 | $9.54 |
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 | $156.0M |
| 总债务越低越好 | $7.3B | $13.9B |
| 股东权益账面价值 | $6.1B | $9.0B |
| 总资产 | $20.0B | $29.9B |
| 负债/权益比越低杠杆越低 | 1.19× | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资CLFURI
| Q1 26 | — | $156.0M | ||
| Q4 25 | $57.0M | $459.0M | ||
| Q3 25 | $66.0M | $512.0M | ||
| Q2 25 | $61.0M | $548.0M | ||
| Q1 25 | $57.0M | $542.0M | ||
| Q4 24 | $54.0M | $457.0M | ||
| Q3 24 | $39.0M | $479.0M | ||
| Q2 24 | $110.0M | $467.0M |
总债务CLFURI
| Q1 26 | — | $13.9B | ||
| Q4 25 | $7.3B | $12.7B | ||
| Q3 25 | $8.0B | $12.6B | ||
| Q2 25 | $7.7B | $12.1B | ||
| Q1 25 | $7.6B | $11.5B | ||
| Q4 24 | $7.1B | $12.2B | ||
| Q3 24 | $3.8B | $11.9B | ||
| Q2 24 | $3.5B | $11.5B |
股东权益CLFURI
| Q1 26 | — | $9.0B | ||
| Q4 25 | $6.1B | $9.0B | ||
| Q3 25 | $5.5B | $9.0B | ||
| Q2 25 | $5.8B | $9.0B | ||
| Q1 25 | $6.3B | $8.8B | ||
| Q4 24 | $6.7B | $8.6B | ||
| Q3 24 | $6.9B | $8.6B | ||
| Q2 24 | $7.1B | $8.3B |
总资产CLFURI
| Q1 26 | — | $29.9B | ||
| Q4 25 | $20.0B | $29.9B | ||
| Q3 25 | $20.3B | $30.1B | ||
| Q2 25 | $20.5B | $29.2B | ||
| Q1 25 | $20.8B | $28.1B | ||
| Q4 24 | $20.9B | $28.2B | ||
| Q3 24 | $16.8B | $28.4B | ||
| Q2 24 | $16.9B | $27.6B |
负债/权益比CLFURI
| Q1 26 | — | 1.55× | ||
| Q4 25 | 1.19× | 1.41× | ||
| Q3 25 | 1.47× | 1.40× | ||
| Q2 25 | 1.33× | 1.34× | ||
| Q1 25 | 1.22× | 1.31× | ||
| Q4 24 | 1.06× | 1.42× | ||
| Q3 24 | 0.55× | 1.38× | ||
| Q2 24 | 0.49× | 1.39× |
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% | 26.4% |
| 资本支出强度资本支出/营收 | 3.2% | — |
| 现金转化率经营现金流/净利润 | — | 2.85× |
| 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CLFURI
| Q1 26 | — | $1.5B | ||
| Q4 25 | $-13.0M | $1.3B | ||
| Q3 25 | $-143.0M | $1.2B | ||
| Q2 25 | $45.0M | $1.3B | ||
| Q1 25 | $-351.0M | $1.4B | ||
| Q4 24 | $-472.0M | $1.0B | ||
| Q3 24 | $-84.0M | $1.2B | ||
| Q2 24 | $519.0M | $1.3B |
自由现金流CLFURI
| Q1 26 | — | $1.1B | ||
| Q4 25 | $-153.0M | — | ||
| Q3 25 | $-300.0M | — | ||
| Q2 25 | $-67.0M | — | ||
| Q1 25 | $-503.0M | — | ||
| Q4 24 | $-677.0M | $471.0M | ||
| Q3 24 | $-235.0M | $-168.0M | ||
| Q2 24 | $362.0M | $-263.0M |
自由现金流率CLFURI
| Q1 26 | — | 26.4% | ||
| Q4 25 | -3.5% | — | ||
| Q3 25 | -6.3% | — | ||
| Q2 25 | -1.4% | — | ||
| Q1 25 | -10.9% | — | ||
| Q4 24 | -15.7% | 46.2% | ||
| Q3 24 | -5.1% | -19.2% | ||
| Q2 24 | 7.1% | -30.2% |
资本支出强度CLFURI
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 4.7% | 56.6% | ||
| Q3 24 | 3.3% | 157.0% | ||
| Q2 24 | 3.1% | 175.6% |
现金转化率CLFURI
| Q1 26 | — | 2.85× | ||
| Q4 25 | — | 1.92× | ||
| Q3 25 | — | 1.68× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | 259.50× | 1.99× |
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% |
URI
| Equipment rentals | $3.4B | 86% |
| Sales of rental equipment | $350.0M | 9% |
| Service and other revenues | $92.0M | 2% |
| Sales of new equipment | $84.0M | 2% |
| Contractor supplies sales | $40.0M | 1% |
