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CLEVELAND-CLIFFS INC.（CLF）与美国合众银行（USB）财务数据对比。点击上方公司名可切换其他公司
美国合众银行的季度营收约是CLEVELAND-CLIFFS INC.的1.7倍（$7.4B vs $4.3B），美国合众银行净利率更高（27.8% vs -5.6%，领先33.4%），美国合众银行同比增速更快（5.1% vs -0.3%），过去两年美国合众银行的营收复合增速更高（4.7% 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。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
CLF vs USB — 直观对比
营收规模更大
USB
是对方的1.7倍
$4.3B
营收增速更快
USB
高出5.4%
-0.3%
净利率更高
USB
高出33.4%
-5.6%
两年增速更快
USB
近两年复合增速
-8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $7.4B |
| 净利润 | $-241.0M | $2.0B |
| 毛利率 | -5.0% | — |
| 营业利润率 | -7.9% | 34.4% |
| 净利率 | -5.6% | 27.8% |
| 营收同比 | -0.3% | 5.1% |
| 净利润同比 | 46.1% | 23.0% |
| 每股收益（稀释后） | — | $1.26 |
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CLFUSB
| Q4 25 | $4.3B | $7.4B | ||
| Q3 25 | $4.7B | $7.3B | ||
| Q2 25 | $4.9B | $7.0B | ||
| Q1 25 | $4.6B | $7.0B | ||
| Q4 24 | $4.3B | $7.0B | ||
| Q3 24 | $4.6B | $6.9B | ||
| Q2 24 | $5.1B | $6.9B | ||
| Q1 24 | $5.2B | $6.7B |
净利润CLFUSB
| Q4 25 | $-241.0M | $2.0B | ||
| Q3 25 | $-251.0M | $2.0B | ||
| Q2 25 | $-470.0M | $1.8B | ||
| Q1 25 | $-483.0M | $1.7B | ||
| Q4 24 | $-447.0M | $1.7B | ||
| Q3 24 | $-242.0M | $1.7B | ||
| Q2 24 | $2.0M | $1.6B | ||
| Q1 24 | $-67.0M | $1.3B |
毛利率CLFUSB
| 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% | — | ||
| Q1 24 | 5.5% | — |
营业利润率CLFUSB
| Q4 25 | -7.9% | 34.4% | ||
| Q3 25 | -4.3% | 34.5% | ||
| Q2 25 | -10.1% | 32.7% | ||
| Q1 25 | -11.6% | 31.0% | ||
| Q4 24 | -10.8% | 30.1% | ||
| Q3 24 | -5.7% | 30.2% | ||
| Q2 24 | 0.1% | 29.9% | ||
| Q1 24 | -0.7% | 24.9% |
净利率CLFUSB
| Q4 25 | -5.6% | 27.8% | ||
| Q3 25 | -5.3% | 27.3% | ||
| Q2 25 | -9.5% | 25.9% | ||
| Q1 25 | -10.4% | 24.6% | ||
| Q4 24 | -10.3% | 23.7% | ||
| Q3 24 | -5.3% | 25.0% | ||
| Q2 24 | 0.0% | 23.3% | ||
| Q1 24 | -1.3% | 19.6% |
每股收益（稀释后）CLFUSB
| Q4 25 | — | $1.26 | ||
| Q3 25 | $-0.51 | $1.22 | ||
| Q2 25 | — | $1.11 | ||
| Q1 25 | — | $1.03 | ||
| Q4 24 | $-0.91 | $1.01 | ||
| Q3 24 | $-0.52 | $1.03 | ||
| Q2 24 | $0.00 | $0.97 | ||
| Q1 24 | $-0.14 | $0.78 |
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 | — |
| 总债务越低越好 | $7.3B | — |
| 股东权益账面价值 | $6.1B | $65.2B |
| 总资产 | $20.0B | $692.3B |
| 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CLFUSB
| 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 | — | ||
| Q1 24 | $30.0M | — |
总债务CLFUSB
| Q4 25 | $7.3B | — | ||
| Q3 25 | $8.0B | — | ||
| Q2 25 | $7.7B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.1B | — | ||
| Q3 24 | $3.8B | — | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $3.7B | — |
股东权益CLFUSB
| Q4 25 | $6.1B | $65.2B | ||
| Q3 25 | $5.5B | $63.3B | ||
| Q2 25 | $5.8B | $61.4B | ||
| Q1 25 | $6.3B | $60.1B | ||
| Q4 24 | $6.7B | $58.6B | ||
| Q3 24 | $6.9B | $58.9B | ||
| Q2 24 | $7.1B | $56.4B | ||
| Q1 24 | $7.2B | $55.6B |
总资产CLFUSB
| Q4 25 | $20.0B | $692.3B | ||
| Q3 25 | $20.3B | $695.4B | ||
| Q2 25 | $20.5B | $686.4B | ||
| Q1 25 | $20.8B | $676.5B | ||
| Q4 24 | $20.9B | $678.3B | ||
| Q3 24 | $16.8B | $686.5B | ||
| Q2 24 | $16.9B | $680.1B | ||
| Q1 24 | $17.2B | $683.6B |
负债/权益比CLFUSB
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 1.33× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.51× | — |
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 | $2.8B |
| 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% | — |
| 现金转化率经营现金流/净利润 | — | 1.39× |
| 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CLFUSB
| Q4 25 | $-13.0M | $2.8B | ||
| Q3 25 | $-143.0M | $3.4B | ||
| Q2 25 | $45.0M | $2.0B | ||
| Q1 25 | $-351.0M | $-285.0M | ||
| Q4 24 | $-472.0M | $4.8B | ||
| Q3 24 | $-84.0M | $972.0M | ||
| Q2 24 | $519.0M | $2.9B | ||
| Q1 24 | $142.0M | $2.7B |
自由现金流CLFUSB
| Q4 25 | $-153.0M | — | ||
| Q3 25 | $-300.0M | — | ||
| Q2 25 | $-67.0M | — | ||
| Q1 25 | $-503.0M | — | ||
| Q4 24 | $-677.0M | — | ||
| Q3 24 | $-235.0M | — | ||
| Q2 24 | $362.0M | — | ||
| Q1 24 | $-40.0M | — |
自由现金流率CLFUSB
| Q4 25 | -3.5% | — | ||
| Q3 25 | -6.3% | — | ||
| Q2 25 | -1.4% | — | ||
| Q1 25 | -10.9% | — | ||
| Q4 24 | -15.7% | — | ||
| Q3 24 | -5.1% | — | ||
| Q2 24 | 7.1% | — | ||
| Q1 24 | -0.8% | — |
资本支出强度CLFUSB
| Q4 25 | 3.2% | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 3.1% | — | ||
| Q1 24 | 3.5% | — |
现金转化率CLFUSB
| Q4 25 | — | 1.39× | ||
| Q3 25 | — | 1.69× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | -0.17× | ||
| Q4 24 | — | 2.87× | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | 259.50× | 1.79× | ||
| Q1 24 | — | 2.02× |
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% |
USB
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