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CLEVELAND-CLIFFS INC.（CLF）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是CLEVELAND-CLIFFS INC.的1.0倍（$4.4B vs $4.3B），标普全球净利率更高（26.8% vs -5.6%，领先32.4%），标普全球同比增速更快（191.7% vs -0.3%），CLEVELAND-CLIFFS INC.自由现金流更多（$-153.0M vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
CLF vs VG — 直观对比
营收规模更大
VG
是对方的1.0倍
$4.3B
营收增速更快
VG
高出191.9%
-0.3%
净利率更高
VG
高出32.4%
-5.6%
自由现金流更多
CLF
多$1.4B
$-1.5B
两年增速更快
VG
近两年复合增速
-8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $4.4B |
| 净利润 | $-241.0M | $1.2B |
| 毛利率 | -5.0% | — |
| 营业利润率 | -7.9% | 38.7% |
| 净利率 | -5.6% | 26.8% |
| 营收同比 | -0.3% | 191.7% |
| 净利润同比 | 46.1% | 20.3% |
| 每股收益（稀释后） | — | $0.41 |
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CLFVG
| Q4 25 | $4.3B | $4.4B | ||
| Q3 25 | $4.7B | $3.3B | ||
| Q2 25 | $4.9B | $3.1B | ||
| Q1 25 | $4.6B | $2.9B | ||
| Q4 24 | $4.3B | $1.5B | ||
| Q3 24 | $4.6B | $926.0M | ||
| Q2 24 | $5.1B | $1.1B | ||
| Q1 24 | $5.2B | $1.4B |
净利润CLFVG
| Q4 25 | $-241.0M | $1.2B | ||
| Q3 25 | $-251.0M | $550.0M | ||
| Q2 25 | $-470.0M | $475.0M | ||
| Q1 25 | $-483.0M | $517.0M | ||
| Q4 24 | $-447.0M | $990.0M | ||
| Q3 24 | $-242.0M | $-294.0M | ||
| Q2 24 | $2.0M | $352.0M | ||
| Q1 24 | $-67.0M | $698.0M |
毛利率CLFVG
| 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CLFVG
| Q4 25 | -7.9% | 38.7% | ||
| Q3 25 | -4.3% | 39.7% | ||
| Q2 25 | -10.1% | 33.5% | ||
| Q1 25 | -11.6% | 37.3% | ||
| Q4 24 | -10.8% | 39.0% | ||
| Q3 24 | -5.7% | 20.4% | ||
| Q2 24 | 0.1% | 32.8% | ||
| Q1 24 | -0.7% | 43.6% |
净利率CLFVG
| Q4 25 | -5.6% | 26.8% | ||
| Q3 25 | -5.3% | 16.5% | ||
| Q2 25 | -9.5% | 15.3% | ||
| Q1 25 | -10.4% | 17.9% | ||
| Q4 24 | -10.3% | 65.0% | ||
| Q3 24 | -5.3% | -31.7% | ||
| Q2 24 | 0.0% | 31.8% | ||
| Q1 24 | -1.3% | 49.4% |
每股收益（稀释后）CLFVG
| Q4 25 | — | $0.41 | ||
| Q3 25 | $-0.51 | $0.16 | ||
| Q2 25 | — | $0.14 | ||
| Q1 25 | — | $0.15 | ||
| Q4 24 | $-0.91 | $0.35 | ||
| Q3 24 | $-0.52 | $-0.15 | ||
| Q2 24 | $0.00 | $0.12 | ||
| Q1 24 | $-0.14 | $0.25 |
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 | $2.4B |
| 总债务越低越好 | $7.3B | $34.2B |
| 股东权益账面价值 | $6.1B | $6.7B |
| 总资产 | $20.0B | $53.4B |
| 负债/权益比越低杠杆越低 | 1.19× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资CLFVG
| Q4 25 | $57.0M | $2.4B | ||
| Q3 25 | $66.0M | $1.9B | ||
| Q2 25 | $61.0M | $2.2B | ||
| Q1 25 | $57.0M | $3.6B | ||
| Q4 24 | $54.0M | $3.6B | ||
| Q3 24 | $39.0M | — | ||
| Q2 24 | $110.0M | — | ||
| Q1 24 | $30.0M | — |
总债务CLFVG
| Q4 25 | $7.3B | $34.2B | ||
| Q3 25 | $8.0B | $32.6B | ||
| Q2 25 | $7.7B | $30.0B | ||
| Q1 25 | $7.6B | $29.3B | ||
| Q4 24 | $7.1B | $29.3B | ||
| Q3 24 | $3.8B | — | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $3.7B | — |
股东权益CLFVG
| Q4 25 | $6.1B | $6.7B | ||
| Q3 25 | $5.5B | $5.7B | ||
| Q2 25 | $5.8B | $5.3B | ||
| Q1 25 | $6.3B | $4.9B | ||
| Q4 24 | $6.7B | $2.9B | ||
| Q3 24 | $6.9B | — | ||
| Q2 24 | $7.1B | — | ||
| Q1 24 | $7.2B | — |
总资产CLFVG
| Q4 25 | $20.0B | $53.4B | ||
| Q3 25 | $20.3B | $50.1B | ||
| Q2 25 | $20.5B | $46.5B | ||
| Q1 25 | $20.8B | $45.1B | ||
| Q4 24 | $20.9B | $43.5B | ||
| Q3 24 | $16.8B | — | ||
| Q2 24 | $16.9B | — | ||
| Q1 24 | $17.2B | — |
负债/权益比CLFVG
| Q4 25 | 1.19× | 5.07× | ||
| Q3 25 | 1.47× | 5.73× | ||
| Q2 25 | 1.33× | 5.69× | ||
| Q1 25 | 1.22× | 6.01× | ||
| Q4 24 | 1.06× | 10.11× | ||
| 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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $-1.5B |
| 自由现金流率自由现金流/营收 | -3.5% | -34.1% |
| 资本支出强度资本支出/营收 | 3.2% | 81.6% |
| 现金转化率经营现金流/净利润 | — | 1.77× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $-6.8B |
8季度趋势，按日历期对齐
经营现金流CLFVG
| Q4 25 | $-13.0M | $2.1B | ||
| Q3 25 | $-143.0M | $1.9B | ||
| Q2 25 | $45.0M | $1.5B | ||
| Q1 25 | $-351.0M | $1.1B | ||
| Q4 24 | $-472.0M | — | ||
| Q3 24 | $-84.0M | — | ||
| Q2 24 | $519.0M | — | ||
| Q1 24 | $142.0M | $638.0M |
自由现金流CLFVG
| Q4 25 | $-153.0M | $-1.5B | ||
| Q3 25 | $-300.0M | $-1.4B | ||
| Q2 25 | $-67.0M | $-1.5B | ||
| Q1 25 | $-503.0M | $-2.4B | ||
| Q4 24 | $-677.0M | — | ||
| Q3 24 | $-235.0M | — | ||
| Q2 24 | $362.0M | — | ||
| Q1 24 | $-40.0M | $-2.4B |
自由现金流率CLFVG
| Q4 25 | -3.5% | -34.1% | ||
| Q3 25 | -6.3% | -42.4% | ||
| Q2 25 | -1.4% | -49.1% | ||
| Q1 25 | -10.9% | -81.3% | ||
| Q4 24 | -15.7% | — | ||
| Q3 24 | -5.1% | — | ||
| Q2 24 | 7.1% | — | ||
| Q1 24 | -0.8% | -167.3% |
资本支出强度CLFVG
| Q4 25 | 3.2% | 81.6% | ||
| Q3 25 | 3.3% | 98.9% | ||
| Q2 25 | 2.3% | 96.1% | ||
| Q1 25 | 3.3% | 119.8% | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 3.1% | — | ||
| Q1 24 | 3.5% | 212.4% |
现金转化率CLFVG
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 3.42× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | — | 2.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 259.50× | — | ||
| Q1 24 | — | 0.91× |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
