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艾地盟（ADM）与BELLRING BRANDS, INC.（BRBR）财务数据对比。点击上方公司名可切换其他公司
艾地盟的季度营收约是BELLRING BRANDS, INC.的11.3倍（$6.1B vs $537.3M）。BELLRING BRANDS, INC.净利率更高（8.1% vs 7.5%，领先0.6%）。艾地盟同比增速更快（123.5% vs 0.8%）。BELLRING BRANDS, INC.自由现金流更多（$-7.3M vs $-669.0M）。过去两年BELLRING BRANDS, INC.的营收复合增速更高（4.2% vs -47.4%）
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。
Bellring Brands是一家知名营养食品企业，研发、生产及销售蛋白饮料、蛋白棒、蛋白粉等功能性营养产品，旗下拥有Premier Protein、Dymatize等知名品牌，主要面向北美市场的健康及运动爱好者，通过零售、电商等多渠道发售。
ADM vs BRBR — 直观对比
营收规模更大
ADM
是对方的11.3倍
$537.3M
营收增速更快
ADM
高出122.7%
0.8%
净利率更高
BRBR
高出0.6%
7.5%
自由现金流更多
BRBR
多$661.7M
$-669.0M
两年增速更快
BRBR
近两年复合增速
-47.4%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $537.3M |
| 净利润 | $456.0M | $43.7M |
| 毛利率 | 20.0% | 29.9% |
| 营业利润率 | 7.9% | 14.6% |
| 净利率 | 7.5% | 8.1% |
| 营收同比 | 123.5% | 0.8% |
| 净利润同比 | -19.6% | -43.2% |
| 每股收益（稀释后） | $0.95 | $0.36 |
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ADMBRBR
| Q4 25 | $6.1B | $537.3M | ||
| Q3 25 | $6.4B | $648.2M | ||
| Q2 25 | $6.3B | $547.5M | ||
| Q1 25 | $6.1B | $588.0M | ||
| Q4 24 | $-25.7B | $532.9M | ||
| Q3 24 | $6.0B | $555.8M | ||
| Q2 24 | $22.2B | $515.4M | ||
| Q1 24 | $21.8B | $494.6M |
净利润ADMBRBR
| Q4 25 | $456.0M | $43.7M | ||
| Q3 25 | $108.0M | $59.6M | ||
| Q2 25 | $219.0M | $21.0M | ||
| Q1 25 | $295.0M | $58.7M | ||
| Q4 24 | $567.0M | $76.9M | ||
| Q3 24 | $18.0M | $71.7M | ||
| Q2 24 | $486.0M | $73.7M | ||
| Q1 24 | $729.0M | $57.2M |
毛利率ADMBRBR
| Q4 25 | 20.0% | 29.9% | ||
| Q3 25 | 19.8% | 28.9% | ||
| Q2 25 | 21.6% | 35.4% | ||
| Q1 25 | 19.2% | 32.3% | ||
| Q4 24 | — | 37.5% | ||
| Q3 24 | 22.8% | 36.9% | ||
| Q2 24 | 6.3% | 36.8% | ||
| Q1 24 | 7.6% | 33.2% |
营业利润率ADMBRBR
| Q4 25 | 7.9% | 14.6% | ||
| Q3 25 | 2.3% | 15.8% | ||
| Q2 25 | 4.4% | 8.2% | ||
| Q1 25 | 5.7% | 16.2% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | 1.8% | 20.2% | ||
| Q2 24 | 2.7% | 21.7% | ||
| Q1 24 | 4.1% | 18.4% |
净利率ADMBRBR
| Q4 25 | 7.5% | 8.1% | ||
| Q3 25 | 1.7% | 9.2% | ||
| Q2 25 | 3.5% | 3.8% | ||
| Q1 25 | 4.8% | 10.0% | ||
| Q4 24 | -2.2% | 14.4% | ||
| Q3 24 | 0.3% | 12.9% | ||
| Q2 24 | 2.2% | 14.3% | ||
| Q1 24 | 3.3% | 11.6% |
每股收益（稀释后）ADMBRBR
| Q4 25 | $0.95 | $0.36 | ||
| Q3 25 | $0.22 | $0.48 | ||
| Q2 25 | $0.45 | $0.16 | ||
| Q1 25 | $0.61 | $0.45 | ||
| Q4 24 | $1.21 | $0.59 | ||
| Q3 24 | $0.04 | $0.54 | ||
| Q2 24 | $0.98 | $0.56 | ||
| Q1 24 | $1.42 | $0.43 |
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 | $1.0B | $64.1M |
| 总债务越低越好 | $7.6B | $1.2B |
| 股东权益账面价值 | $22.7B | $-510.7M |
| 总资产 | $52.4B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资ADMBRBR
| Q4 25 | $1.0B | $64.1M | ||
| Q3 25 | $1.2B | $71.8M | ||
| Q2 25 | $1.1B | $43.7M | ||
| Q1 25 | $864.0M | $28.1M | ||
| Q4 24 | $611.0M | $49.6M | ||
| Q3 24 | $784.0M | $70.8M | ||
| Q2 24 | $764.0M | $72.6M | ||
| Q1 24 | $830.0M | $79.3M |
总债务ADMBRBR
| Q4 25 | $7.6B | $1.2B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $953.7M | ||
| Q4 24 | $8.3B | $833.4M | ||
| Q3 24 | $7.6B | $833.1M | ||
| Q2 24 | — | $832.7M | ||
| Q1 24 | — | $832.4M |
股东权益ADMBRBR
| Q4 25 | $22.7B | $-510.7M | ||
| Q3 25 | $22.5B | $-453.9M | ||
| Q2 25 | $22.4B | $-309.9M | ||
| Q1 25 | $22.1B | $-254.1M | ||
| Q4 24 | $22.2B | $-146.6M | ||
| Q3 24 | $22.0B | $-205.9M | ||
| Q2 24 | $22.2B | $-243.2M | ||
| Q1 24 | $23.2B | $-247.7M |
总资产ADMBRBR
| Q4 25 | $52.4B | $1.1B | ||
| Q3 25 | $51.9B | $941.0M | ||
| Q2 25 | $52.0B | $993.7M | ||
| Q1 25 | $53.4B | $947.5M | ||
| Q4 24 | $53.3B | $885.2M | ||
| Q3 24 | $52.2B | $837.0M | ||
| Q2 24 | $52.7B | $804.1M | ||
| Q1 24 | $54.8B | $765.0M |
负债/权益比ADMBRBR
| Q4 25 | 0.33× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.37× | — | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-313.0M | $-3.1M |
| 自由现金流经营现金流 - 资本支出 | $-669.0M | $-7.3M |
| 自由现金流率自由现金流/营收 | -11.1% | -1.4% |
| 资本支出强度资本支出/营收 | 5.9% | 0.8% |
| 现金转化率经营现金流/净利润 | -0.69× | -0.07× |
| 过去12个月自由现金流最近4个季度 | $4.2B | $246.9M |
8季度趋势，按日历期对齐
经营现金流ADMBRBR
| Q4 25 | $-313.0M | $-3.1M | ||
| Q3 25 | $1.8B | $169.1M | ||
| Q2 25 | $4.3B | $40.3M | ||
| Q1 25 | $-342.0M | $48.2M | ||
| Q4 24 | $322.0M | $3.0M | ||
| Q3 24 | $1.3B | $40.1M | ||
| Q2 24 | $468.0M | $69.0M | ||
| Q1 24 | $700.0M | $16.3M |
自由现金流ADMBRBR
| Q4 25 | $-669.0M | $-7.3M | ||
| Q3 25 | $1.5B | $168.1M | ||
| Q2 25 | $4.0B | $38.5M | ||
| Q1 25 | $-633.0M | $47.6M | ||
| Q4 24 | $-170.0M | $1.7M | ||
| Q3 24 | $919.0M | $38.9M | ||
| Q2 24 | $106.0M | $68.9M | ||
| Q1 24 | $372.0M | $16.0M |
自由现金流率ADMBRBR
| Q4 25 | -11.1% | -1.4% | ||
| Q3 25 | 23.6% | 25.9% | ||
| Q2 25 | 63.0% | 7.0% | ||
| Q1 25 | -10.3% | 8.1% | ||
| Q4 24 | 0.7% | 0.3% | ||
| Q3 24 | 15.3% | 7.0% | ||
| Q2 24 | 0.5% | 13.4% | ||
| Q1 24 | 1.7% | 3.2% |
资本支出强度ADMBRBR
| Q4 25 | 5.9% | 0.8% | ||
| Q3 25 | 4.6% | 0.2% | ||
| Q2 25 | 4.8% | 0.3% | ||
| Q1 25 | 4.7% | 0.1% | ||
| Q4 24 | -1.9% | 0.2% | ||
| Q3 24 | 6.4% | 0.2% | ||
| Q2 24 | 1.6% | 0.0% | ||
| Q1 24 | 1.5% | 0.1% |
现金转化率ADMBRBR
| Q4 25 | -0.69× | -0.07× | ||
| Q3 25 | 16.75× | 2.84× | ||
| Q2 25 | 19.63× | 1.92× | ||
| Q1 25 | -1.16× | 0.82× | ||
| Q4 24 | 0.57× | 0.04× | ||
| Q3 24 | 72.22× | 0.56× | ||
| Q2 24 | 0.96× | 0.94× | ||
| Q1 24 | 0.96× | 0.28× |
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
| Starchesandsweeteners | $1.4B | 23% |
| Ag Services | $1.1B | 18% |
| Human Nutrition | $961.0M | 16% |
| Refined Productsand Other | $924.0M | 15% |
| Animal Nutrition | $825.0M | 14% |
| Vantage Corn Processors | $700.0M | 12% |
| Transferred Over Time | $176.0M | 3% |
| Crushing | $59.0M | 1% |
BRBR
| Shakesandotherbeverages | $432.4M | 80% |
| Powders | $92.1M | 17% |
| Other Products | $12.8M | 2% |
