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艾地盟（ADM）与CAL-MAINE FOODS INC（CALM）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CAL-MAINE FOODS INC的7.9倍（$6.1B vs $769.5M）。CAL-MAINE FOODS INC净利率更高（13.4% vs 7.5%，领先5.8%）。艾地盟同比增速更快（123.5% vs -19.4%）。CAL-MAINE FOODS INC自由现金流更多（$47.9M vs $-669.0M）。过去两年CAL-MAINE FOODS INC的营收复合增速更高（21.3% 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。
卡尔梅恩食品公司是总部位于美国密西西比州里奇兰的鲜蛋生产商，截至2024年是美国规模最大的蛋品企业。公司旗下拥有Egg-Land's Best、Land O'Lakes等多个知名蛋品品牌，1957年由弗雷德·R·亚当斯二世创立，亚当斯家族持有企业控股权，目前在纳斯达克挂牌上市。
ADM vs CALM — 直观对比
营收规模更大
ADM
是对方的7.9倍
$769.5M
营收增速更快
ADM
高出142.9%
-19.4%
净利率更高
CALM
高出5.8%
7.5%
自由现金流更多
CALM
多$716.9M
$-669.0M
两年增速更快
CALM
近两年复合增速
-47.4%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $769.5M |
| 净利润 | $456.0M | $102.8M |
| 毛利率 | 20.0% | 27.0% |
| 营业利润率 | 7.9% | 16.1% |
| 净利率 | 7.5% | 13.4% |
| 营收同比 | 123.5% | -19.4% |
| 净利润同比 | -19.6% | -53.1% |
| 每股收益（稀释后） | $0.95 | $2.13 |
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ADMCALM
| Q4 25 | $6.1B | $769.5M | ||
| Q3 25 | $6.4B | $922.6M | ||
| Q2 25 | $6.3B | — | ||
| Q1 25 | $6.1B | $1.4B | ||
| Q4 24 | $-25.7B | $954.7M | ||
| Q3 24 | $6.0B | $785.9M | ||
| Q2 24 | $22.2B | — | ||
| Q1 24 | $21.8B | $703.1M |
净利润ADMCALM
| Q4 25 | $456.0M | $102.8M | ||
| Q3 25 | $108.0M | $199.3M | ||
| Q2 25 | $219.0M | — | ||
| Q1 25 | $295.0M | $508.5M | ||
| Q4 24 | $567.0M | $219.1M | ||
| Q3 24 | $18.0M | $150.0M | ||
| Q2 24 | $486.0M | — | ||
| Q1 24 | $729.0M | $146.7M |
毛利率ADMCALM
| Q4 25 | 20.0% | 27.0% | ||
| Q3 25 | 19.8% | 33.7% | ||
| Q2 25 | 21.6% | — | ||
| Q1 25 | 19.2% | 50.5% | ||
| Q4 24 | — | 37.3% | ||
| Q3 24 | 22.8% | 31.5% | ||
| Q2 24 | 6.3% | — | ||
| Q1 24 | 7.6% | 31.1% |
营业利润率ADMCALM
| Q4 25 | 7.9% | 16.1% | ||
| Q3 25 | 2.3% | 27.0% | ||
| Q2 25 | 4.4% | — | ||
| Q1 25 | 5.7% | 44.8% | ||
| Q4 24 | — | 29.1% | ||
| Q3 24 | 1.8% | 23.8% | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 4.1% | 23.2% |
净利率ADMCALM
| Q4 25 | 7.5% | 13.4% | ||
| Q3 25 | 1.7% | 21.6% | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | 4.8% | 35.9% | ||
| Q4 24 | -2.2% | 22.9% | ||
| Q3 24 | 0.3% | 19.1% | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 3.3% | 20.9% |
每股收益（稀释后）ADMCALM
| Q4 25 | $0.95 | $2.13 | ||
| Q3 25 | $0.22 | $4.12 | ||
| Q2 25 | $0.45 | — | ||
| Q1 25 | $0.61 | $10.38 | ||
| Q4 24 | $1.21 | $4.47 | ||
| Q3 24 | $0.04 | $3.06 | ||
| Q2 24 | $0.98 | — | ||
| Q1 24 | $1.42 | $3.00 |
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 | $369.4M |
| 总债务越低越好 | $7.6B | — |
| 股东权益账面价值 | $22.7B | $2.7B |
| 总资产 | $52.4B | $3.1B |
| 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ADMCALM
| Q4 25 | $1.0B | $369.4M | ||
| Q3 25 | $1.2B | $251.9M | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $864.0M | $497.2M | ||
| Q4 24 | $611.0M | $140.3M | ||
| Q3 24 | $784.0M | $181.7M | ||
| Q2 24 | $764.0M | — | ||
| Q1 24 | $830.0M | $367.1M |
总债务ADMCALM
| Q4 25 | $7.6B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.3B | — | ||
| Q3 24 | $7.6B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADMCALM
| Q4 25 | $22.7B | $2.7B | ||
| Q3 25 | $22.5B | $2.7B | ||
| Q2 25 | $22.4B | — | ||
| Q1 25 | $22.1B | $2.4B | ||
| Q4 24 | $22.2B | $2.0B | ||
| Q3 24 | $22.0B | $1.9B | ||
| Q2 24 | $22.2B | — | ||
| Q1 24 | $23.2B | $1.7B |
总资产ADMCALM
| Q4 25 | $52.4B | $3.1B | ||
| Q3 25 | $51.9B | $3.2B | ||
| Q2 25 | $52.0B | — | ||
| Q1 25 | $53.4B | $3.1B | ||
| Q4 24 | $53.3B | $2.5B | ||
| Q3 24 | $52.2B | $2.4B | ||
| Q2 24 | $52.7B | — | ||
| Q1 24 | $54.8B | $2.1B |
负债/权益比ADMCALM
| 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 | $94.8M |
| 自由现金流经营现金流 - 资本支出 | $-669.0M | $47.9M |
| 自由现金流率自由现金流/营收 | -11.1% | 6.2% |
| 资本支出强度资本支出/营收 | 5.9% | 6.1% |
| 现金转化率经营现金流/净利润 | -0.69× | 0.92× |
| 过去12个月自由现金流最近4个季度 | $4.2B | $1.0B |
8季度趋势，按日历期对齐
经营现金流ADMCALM
| Q4 25 | $-313.0M | $94.8M | ||
| Q3 25 | $1.8B | $278.6M | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $-342.0M | $571.6M | ||
| Q4 24 | $322.0M | $122.7M | ||
| Q3 24 | $1.3B | $117.5M | ||
| Q2 24 | $468.0M | — | ||
| Q1 24 | $700.0M | $164.0M |
自由现金流ADMCALM
| Q4 25 | $-669.0M | $47.9M | ||
| Q3 25 | $1.5B | $233.3M | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $-633.0M | $521.8M | ||
| Q4 24 | $-170.0M | $92.9M | ||
| Q3 24 | $919.0M | $81.7M | ||
| Q2 24 | $106.0M | — | ||
| Q1 24 | $372.0M | $133.8M |
自由现金流率ADMCALM
| Q4 25 | -11.1% | 6.2% | ||
| Q3 25 | 23.6% | 25.3% | ||
| Q2 25 | 63.0% | — | ||
| Q1 25 | -10.3% | 36.8% | ||
| Q4 24 | 0.7% | 9.7% | ||
| Q3 24 | 15.3% | 10.4% | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 1.7% | 19.0% |
资本支出强度ADMCALM
| Q4 25 | 5.9% | 6.1% | ||
| Q3 25 | 4.6% | 4.9% | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 4.7% | 3.5% | ||
| Q4 24 | -1.9% | 3.1% | ||
| Q3 24 | 6.4% | 4.6% | ||
| Q2 24 | 1.6% | — | ||
| Q1 24 | 1.5% | 4.3% |
现金转化率ADMCALM
| Q4 25 | -0.69× | 0.92× | ||
| Q3 25 | 16.75× | 1.40× | ||
| Q2 25 | 19.63× | — | ||
| Q1 25 | -1.16× | 1.12× | ||
| Q4 24 | 0.57× | 0.56× | ||
| Q3 24 | 72.22× | 0.78× | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.96× | 1.12× |
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% |
CALM
| Retail | $625.4M | 81% |
| Prepared Foods | $71.7M | 9% |
| Egg Products | $34.5M | 4% |
| Service Other | $19.2M | 2% |
| Other | $13.8M | 2% |
