vs
艾地盟（ADM）与波音（BA）财务数据对比。点击上方公司名可切换其他公司
波音的季度营收约是艾地盟的1.1倍（$22.2B vs $20.5B），艾地盟净利率更高（1.5% vs -0.0%，领先1.5%），波音同比增速更快（14.0% vs 1.6%），过去两年波音的营收复合增速更高（14.8% vs -4.0%）
艾地盟（ADM）是美国跨国食品加工与大宗商品贸易企业，1902年成立，总部位于伊利诺伊州芝加哥。集团在全球布局270多家加工厂及420多个农作物采购站点，将谷物、油籽加工为食品、饮料、营养保健、工业生产及动物饲料领域的各类产品，供应全球市场。
波音公司是美国跨国航空航天企业，1916年成立，业务覆盖民用飞机、旋翼机、火箭、卫星、导弹的设计、制造与全球销售，同时提供租赁及产品配套支持服务。作为全球头部航空航天制造商，按2022年营收计为全球第四大国防承包商，也是美国按金额计算的最大出口企业。
ADM vs BA — 直观对比
营收规模更大
BA
是对方的1.1倍
$20.5B
营收增速更快
BA
高出12.4%
1.6%
净利率更高
ADM
高出1.5%
-0.0%
两年增速更快
BA
近两年复合增速
-4.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $20.5B | $22.2B |
| 净利润 | $298.0M | $-7.0M |
| 毛利率 | 6.0% | — |
| 营业利润率 | — | 2.0% |
| 净利率 | 1.5% | -0.0% |
| 营收同比 | 1.6% | 14.0% |
| 净利润同比 | 1.0% | 77.4% |
| 每股收益（稀释后） | $0.62 | $-0.11 |
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ADMBA
| Q1 26 | $20.5B | $22.2B | ||
| Q4 25 | $6.1B | $23.9B | ||
| Q3 25 | $6.4B | $23.3B | ||
| Q2 25 | $6.3B | $22.7B | ||
| Q1 25 | $6.1B | $19.5B | ||
| Q4 24 | $-25.7B | $15.2B | ||
| Q3 24 | $6.0B | $17.8B | ||
| Q2 24 | $22.2B | $16.9B |
净利润ADMBA
| Q1 26 | $298.0M | $-7.0M | ||
| Q4 25 | $456.0M | $8.2B | ||
| Q3 25 | $108.0M | $-5.3B | ||
| Q2 25 | $219.0M | $-611.0M | ||
| Q1 25 | $295.0M | $-37.0M | ||
| Q4 24 | $567.0M | $-3.9B | ||
| Q3 24 | $18.0M | $-6.2B | ||
| Q2 24 | $486.0M | $-1.4B |
毛利率ADMBA
| Q1 26 | 6.0% | — | ||
| Q4 25 | 20.0% | 7.6% | ||
| Q3 25 | 19.8% | -10.2% | ||
| Q2 25 | 21.6% | 10.7% | ||
| Q1 25 | 19.2% | 12.4% | ||
| Q4 24 | — | -10.4% | ||
| Q3 24 | 22.8% | -19.7% | ||
| Q2 24 | 6.3% | 7.3% |
营业利润率ADMBA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 7.9% | 36.7% | ||
| Q3 25 | 2.3% | -20.5% | ||
| Q2 25 | 4.4% | -0.8% | ||
| Q1 25 | 5.7% | 2.4% | ||
| Q4 24 | — | -24.7% | ||
| Q3 24 | 1.8% | -32.3% | ||
| Q2 24 | 2.7% | -6.5% |
净利率ADMBA
| Q1 26 | 1.5% | -0.0% | ||
| Q4 25 | 7.5% | 34.3% | ||
| Q3 25 | 1.7% | -22.9% | ||
| Q2 25 | 3.5% | -2.7% | ||
| Q1 25 | 4.8% | -0.2% | ||
| Q4 24 | -2.2% | -25.4% | ||
| Q3 24 | 0.3% | -34.6% | ||
| Q2 24 | 2.2% | -8.5% |
每股收益（稀释后）ADMBA
| Q1 26 | $0.62 | $-0.11 | ||
| Q4 25 | $0.95 | $10.70 | ||
| Q3 25 | $0.22 | $-7.14 | ||
| Q2 25 | $0.45 | $-0.92 | ||
| Q1 25 | $0.61 | $-0.16 | ||
| Q4 24 | $1.21 | $-5.50 | ||
| Q3 24 | $0.04 | $-9.97 | ||
| Q2 24 | $0.98 | $-2.33 |
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 | $591.0M | $9.4B |
| 总债务越低越好 | $1.7B | $44.4B |
| 股东权益账面价值 | $22.8B | $6.0B |
| 总资产 | — | $164.8B |
| 负债/权益比越低杠杆越低 | 0.08× | 7.41× |
8季度趋势，按日历期对齐
现金及短期投资ADMBA
| Q1 26 | $591.0M | $9.4B | ||
| Q4 25 | $1.0B | $29.4B | ||
| Q3 25 | $1.2B | $23.0B | ||
| Q2 25 | $1.1B | $23.0B | ||
| Q1 25 | $864.0M | $23.7B | ||
| Q4 24 | $611.0M | $26.3B | ||
| Q3 24 | $784.0M | $10.5B | ||
| Q2 24 | $764.0M | $12.6B |
总债务ADMBA
| Q1 26 | $1.7B | $44.4B | ||
| Q4 25 | $7.6B | $45.6B | ||
| Q3 25 | — | $44.6B | ||
| Q2 25 | — | $44.6B | ||
| Q1 25 | — | $45.7B | ||
| Q4 24 | $8.3B | $52.6B | ||
| Q3 24 | $7.6B | $53.2B | ||
| Q2 24 | — | $53.2B |
股东权益ADMBA
| Q1 26 | $22.8B | $6.0B | ||
| Q4 25 | $22.7B | $5.5B | ||
| Q3 25 | $22.5B | $-8.3B | ||
| Q2 25 | $22.4B | $-3.3B | ||
| Q1 25 | $22.1B | $-3.3B | ||
| Q4 24 | $22.2B | $-3.9B | ||
| Q3 24 | $22.0B | $-23.6B | ||
| Q2 24 | $22.2B | $-18.0B |
总资产ADMBA
| Q1 26 | — | $164.8B | ||
| Q4 25 | $52.4B | $168.2B | ||
| Q3 25 | $51.9B | $150.0B | ||
| Q2 25 | $52.0B | $155.1B | ||
| Q1 25 | $53.4B | $156.5B | ||
| Q4 24 | $53.3B | $156.4B | ||
| Q3 24 | $52.2B | $137.7B | ||
| Q2 24 | $52.7B | $142.7B |
负债/权益比ADMBA
| Q1 26 | 0.08× | 7.41× | ||
| Q4 25 | 0.33× | 8.37× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.37× | — | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | — | — |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $-1.5B |
| 自由现金流率自由现金流/营收 | — | -6.5% |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 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ADMBA
| Q1 26 | — | — | ||
| Q4 25 | $-313.0M | $1.3B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $4.3B | $227.0M | ||
| Q1 25 | $-342.0M | $-1.6B | ||
| Q4 24 | $322.0M | $-3.5B | ||
| Q3 24 | $1.3B | $-1.3B | ||
| Q2 24 | $468.0M | $-3.9B |
自由现金流ADMBA
| Q1 26 | — | $-1.5B | ||
| Q4 25 | $-669.0M | $375.0M | ||
| Q3 25 | $1.5B | $238.0M | ||
| Q2 25 | $4.0B | $-200.0M | ||
| Q1 25 | $-633.0M | $-2.3B | ||
| Q4 24 | $-170.0M | $-4.1B | ||
| Q3 24 | $919.0M | $-2.0B | ||
| Q2 24 | $106.0M | $-4.3B |
自由现金流率ADMBA
| Q1 26 | — | -6.5% | ||
| Q4 25 | -11.1% | 1.6% | ||
| Q3 25 | 23.6% | 1.0% | ||
| Q2 25 | 63.0% | -0.9% | ||
| Q1 25 | -10.3% | -11.7% | ||
| Q4 24 | 0.7% | -26.9% | ||
| Q3 24 | 15.3% | -11.0% | ||
| Q2 24 | 0.5% | -25.7% |
资本支出强度ADMBA
| Q1 26 | 0.9% | — | ||
| Q4 25 | 5.9% | 4.0% | ||
| Q3 25 | 4.6% | 3.8% | ||
| Q2 25 | 4.8% | 1.9% | ||
| Q1 25 | 4.7% | 3.5% | ||
| Q4 24 | -1.9% | 4.3% | ||
| Q3 24 | 6.4% | 3.4% | ||
| Q2 24 | 1.6% | 2.4% |
现金转化率ADMBA
| Q1 26 | — | — | ||
| Q4 25 | -0.69× | 0.16× | ||
| Q3 25 | 16.75× | — | ||
| Q2 25 | 19.63× | — | ||
| Q1 25 | -1.16× | — | ||
| Q4 24 | 0.57× | — | ||
| Q3 24 | 72.22× | — | ||
| Q2 24 | 0.96× | — |
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
ADM
| Ag Services and Oilseeds | $16.0B | 78% |
| Carbohydrate Solutions | $2.6B | 12% |
| Nutrition | $1.8B | 9% |
BA
| Commercial Airplanes | $9.2B | 41% |
| Defense, Space & Security | $7.6B | 34% |
| Global Services | $5.4B | 24% |
