vs
Core Natural Resources, Inc.（CNR）与WARRIOR MET COAL, INC.（HCC）财务数据对比。点击上方公司名可切换其他公司
Core Natural Resources, Inc.的季度营收约是WARRIOR MET COAL, INC.的2.7倍（$1.0B vs $384.0M）。WARRIOR MET COAL, INC.净利率更高（6.0% vs -7.6%，领先13.6%）。Core Natural Resources, Inc.同比增速更快（81.8% vs 29.1%）。过去两年Core Natural Resources, Inc.的营收复合增速更高（38.1% vs -12.7%）
Arch Resources（原阿奇煤炭）曾是美国煤炭开采加工企业，为美国第二大煤炭供应商，仅次于皮博迪能源，2011年占据美国国内15%的市场份额，主营低硫烟煤、次烟煤的开采、加工与销售，客户以发电企业为主。
Warrior Met Coal（股票代码HCC）是总部位于美国的矿业企业，主营高品质冶金煤的开采与供应，其产品是钢铁制造的核心原材料，主要服务北美、欧洲、亚洲地区的钢铁生产商及工业客户。
CNR vs HCC — 直观对比
营收规模更大
CNR
是对方的2.7倍
$384.0M
营收增速更快
CNR
高出52.7%
29.1%
净利率更高
HCC
高出13.6%
-7.6%
两年增速更快
CNR
近两年复合增速
-12.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $384.0M |
| 净利润 | $-79.0M | $23.0M |
| 毛利率 | — | 29.5% |
| 营业利润率 | -9.3% | 9.0% |
| 净利率 | -7.6% | 6.0% |
| 营收同比 | 81.8% | 29.1% |
| 净利润同比 | -356.3% | 1919.5% |
| 每股收益（稀释后） | $-1.51 | $0.43 |
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CNRHCC
| Q4 25 | $1.0B | $384.0M | ||
| Q3 25 | $1.0B | $328.6M | ||
| Q2 25 | $1.1B | $297.5M | ||
| Q1 25 | $1.0B | $299.9M | ||
| Q4 24 | $573.6M | $297.5M | ||
| Q3 24 | $553.4M | $327.7M | ||
| Q2 24 | $490.7M | $396.5M | ||
| Q1 24 | $546.7M | $503.5M |
净利润CNRHCC
| Q4 25 | $-79.0M | $23.0M | ||
| Q3 25 | $31.6M | $36.6M | ||
| Q2 25 | $-36.6M | $5.6M | ||
| Q1 25 | $-69.3M | $-8.2M | ||
| Q4 24 | $30.8M | $1.1M | ||
| Q3 24 | $95.6M | $41.8M | ||
| Q2 24 | $58.1M | $70.7M | ||
| Q1 24 | $101.9M | $137.0M |
毛利率CNRHCC
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 27.1% | ||
| Q2 25 | — | 23.9% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 23.1% | ||
| Q3 24 | — | 29.3% | ||
| Q2 24 | — | 34.1% | ||
| Q1 24 | — | 43.3% |
营业利润率CNRHCC
| Q4 25 | -9.3% | 9.0% | ||
| Q3 25 | -1.2% | 6.3% | ||
| Q2 25 | -1.7% | 2.6% | ||
| Q1 25 | -5.3% | -5.8% | ||
| Q4 24 | 6.6% | -1.4% | ||
| Q3 24 | 21.2% | 11.9% | ||
| Q2 24 | 14.6% | 17.9% | ||
| Q1 24 | 22.7% | 29.6% |
净利率CNRHCC
| Q4 25 | -7.6% | 6.0% | ||
| Q3 25 | 3.2% | 11.1% | ||
| Q2 25 | -3.3% | 1.9% | ||
| Q1 25 | -6.8% | -2.7% | ||
| Q4 24 | 5.4% | 0.4% | ||
| Q3 24 | 17.3% | 12.7% | ||
| Q2 24 | 11.8% | 17.8% | ||
| Q1 24 | 18.6% | 27.2% |
每股收益（稀释后）CNRHCC
| Q4 25 | $-1.51 | $0.43 | ||
| Q3 25 | $0.61 | $0.70 | ||
| Q2 25 | $-0.70 | $0.11 | ||
| Q1 25 | $-1.38 | $-0.16 | ||
| Q4 24 | $1.04 | $0.02 | ||
| Q3 24 | $3.22 | $0.80 | ||
| Q2 24 | $1.96 | $1.35 | ||
| Q1 24 | $3.39 | $2.62 |
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 | $432.2M | $300.0M |
| 总债务越低越好 | $354.2M | $154.3M |
| 股东权益账面价值 | $3.7B | $2.1B |
| 总资产 | $6.1B | $2.8B |
| 负债/权益比越低杠杆越低 | 0.10× | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资CNRHCC
| Q4 25 | $432.2M | $300.0M | ||
| Q3 25 | $444.7M | $336.3M | ||
| Q2 25 | $413.2M | $383.3M | ||
| Q1 25 | $388.5M | $454.9M | ||
| Q4 24 | $460.2M | $491.5M | ||
| Q3 24 | $331.7M | $583.2M | ||
| Q2 24 | $216.1M | $709.0M | ||
| Q1 24 | $172.6M | $693.9M |
总债务CNRHCC
| Q4 25 | $354.2M | $154.3M | ||
| Q3 25 | $334.5M | $154.1M | ||
| Q2 25 | $334.0M | $153.9M | ||
| Q1 25 | $329.8M | $153.8M | ||
| Q4 24 | $94.8M | $153.6M | ||
| Q3 24 | $83.7M | $153.5M | ||
| Q2 24 | $184.9M | $153.3M | ||
| Q1 24 | $185.5M | $153.2M |
股东权益CNRHCC
| Q4 25 | $3.7B | $2.1B | ||
| Q3 25 | $3.8B | $2.1B | ||
| Q2 25 | $3.8B | $2.1B | ||
| Q1 25 | $3.9B | $2.1B | ||
| Q4 24 | $1.6B | $2.1B | ||
| Q3 24 | $1.5B | $2.1B | ||
| Q2 24 | $1.4B | $2.0B | ||
| Q1 24 | $1.4B | $2.0B |
总资产CNRHCC
| Q4 25 | $6.1B | $2.8B | ||
| Q3 25 | $6.2B | $2.7B | ||
| Q2 25 | $6.2B | $2.6B | ||
| Q1 25 | $6.3B | $2.6B | ||
| Q4 24 | $2.9B | $2.6B | ||
| Q3 24 | $2.8B | $2.6B | ||
| Q2 24 | $2.7B | $2.6B | ||
| Q1 24 | $2.7B | $2.5B |
负债/权益比CNRHCC
| Q4 25 | 0.10× | 0.07× | ||
| Q3 25 | 0.09× | 0.07× | ||
| Q2 25 | 0.09× | 0.07× | ||
| Q1 25 | 0.08× | 0.07× | ||
| Q4 24 | 0.06× | 0.07× | ||
| Q3 24 | 0.05× | 0.07× | ||
| Q2 24 | 0.13× | 0.07× | ||
| Q1 24 | 0.13× | 0.08× |
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 | $107.3M | $76.1M |
| 自由现金流经营现金流 - 资本支出 | $26.0M | — |
| 自由现金流率自由现金流/营收 | 2.5% | — |
| 资本支出强度资本支出/营收 | 7.8% | — |
| 现金转化率经营现金流/净利润 | — | 3.31× |
| 过去12个月自由现金流最近4个季度 | $21.2M | — |
8季度趋势，按日历期对齐
经营现金流CNRHCC
| Q4 25 | $107.3M | $76.1M | ||
| Q3 25 | $87.9M | $104.7M | ||
| Q2 25 | $220.2M | $37.5M | ||
| Q1 25 | $-109.6M | $10.9M | ||
| Q4 24 | $121.3M | $54.2M | ||
| Q3 24 | $161.3M | $62.2M | ||
| Q2 24 | $116.3M | $147.0M | ||
| Q1 24 | $77.5M | $104.1M |
自由现金流CNRHCC
| Q4 25 | $26.0M | — | ||
| Q3 25 | $38.6M | — | ||
| Q2 25 | $131.0M | — | ||
| Q1 25 | $-174.5M | — | ||
| Q4 24 | $80.5M | — | ||
| Q3 24 | $121.9M | — | ||
| Q2 24 | $60.9M | — | ||
| Q1 24 | $35.1M | — |
自由现金流率CNRHCC
| Q4 25 | 2.5% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | -17.1% | — | ||
| Q4 24 | 14.0% | — | ||
| Q3 24 | 22.0% | — | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 6.4% | — |
资本支出强度CNRHCC
| Q4 25 | 7.8% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 8.1% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | 7.1% | — | ||
| Q2 24 | 11.3% | — | ||
| Q1 24 | 7.7% | — |
现金转化率CNRHCC
| Q4 25 | — | 3.31× | ||
| Q3 25 | 2.78× | 2.86× | ||
| Q2 25 | — | 6.70× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.94× | 47.68× | ||
| Q3 24 | 1.69× | 1.49× | ||
| Q2 24 | 2.00× | 2.08× | ||
| Q1 24 | 0.76× | 0.76× |
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
CNR
| Other | $397.4M | 38% |
| Power Generation | $376.5M | 36% |
| PRB | $183.0M | 18% |
| Metallurgical | $42.0M | 4% |
| Industrial | $34.1M | 3% |
| Terminal Revenue | $6.4M | 1% |
| Other Revenue | $3.0M | 0% |
HCC
| Mining Segment | $373.6M | 97% |
| Other | $10.4M | 3% |
