vs
艾地盟（ADM）与福陆（FLR）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福陆的1.4倍（$6.1B vs $4.2B），艾地盟净利率更高（7.5% vs -37.7%，领先45.2%），艾地盟同比增速更快（123.5% vs -2.0%），福陆自由现金流更多（$-378.0M vs $-669.0M），过去两年福陆的营收复合增速更高（5.7% 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。
福陆是总部位于美国得克萨斯州欧文市的工程建设企业，通过旗下子公司提供油气、工业与基础设施、政府项目及电力三大核心领域的服务，是《财富》世界500强中排名最高的上市工程建设企业，总排名位列第265位。
ADM vs FLR — 直观对比
营收规模更大
ADM
是对方的1.4倍
$4.2B
营收增速更快
ADM
高出125.5%
-2.0%
净利率更高
ADM
高出45.2%
-37.7%
自由现金流更多
FLR
多$291.0M
$-669.0M
两年增速更快
FLR
近两年复合增速
-47.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $4.2B |
| 净利润 | $456.0M | $-1.6B |
| 毛利率 | 20.0% | 3.2% |
| 营业利润率 | 7.9% | 1.3% |
| 净利率 | 7.5% | -37.7% |
| 营收同比 | 123.5% | -2.0% |
| 净利润同比 | -19.6% | -184.4% |
| 每股收益（稀释后） | $0.95 | $-9.40 |
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ADMFLR
| Q4 25 | $6.1B | $4.2B | ||
| Q3 25 | $6.4B | $3.4B | ||
| Q2 25 | $6.3B | $4.0B | ||
| Q1 25 | $6.1B | $4.0B | ||
| Q4 24 | $-25.7B | $4.3B | ||
| Q3 24 | $6.0B | $4.1B | ||
| Q2 24 | $22.2B | $4.2B | ||
| Q1 24 | $21.8B | $3.7B |
净利润ADMFLR
| Q4 25 | $456.0M | $-1.6B | ||
| Q3 25 | $108.0M | $-697.0M | ||
| Q2 25 | $219.0M | $2.5B | ||
| Q1 25 | $295.0M | $-241.0M | ||
| Q4 24 | $567.0M | $1.9B | ||
| Q3 24 | $18.0M | $54.0M | ||
| Q2 24 | $486.0M | $169.0M | ||
| Q1 24 | $729.0M | $59.0M |
毛利率ADMFLR
| Q4 25 | 20.0% | 3.2% | ||
| Q3 25 | 19.8% | -13.3% | ||
| Q2 25 | 21.6% | 1.4% | ||
| Q1 25 | 19.2% | 3.5% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | 22.8% | 2.1% | ||
| Q2 24 | 6.3% | 4.2% | ||
| Q1 24 | 7.6% | 2.7% |
营业利润率ADMFLR
| Q4 25 | 7.9% | 1.3% | ||
| Q3 25 | 2.3% | -14.7% | ||
| Q2 25 | 4.4% | -0.7% | ||
| Q1 25 | 5.7% | 2.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | 1.8% | 1.2% | ||
| Q2 24 | 2.7% | 4.2% | ||
| Q1 24 | 4.1% | 1.4% |
净利率ADMFLR
| Q4 25 | 7.5% | -37.7% | ||
| Q3 25 | 1.7% | -20.7% | ||
| Q2 25 | 3.5% | 61.8% | ||
| Q1 25 | 4.8% | -6.1% | ||
| Q4 24 | -2.2% | 43.7% | ||
| Q3 24 | 0.3% | 1.3% | ||
| Q2 24 | 2.2% | 4.0% | ||
| Q1 24 | 3.3% | 1.6% |
每股收益（稀释后）ADMFLR
| Q4 25 | $0.95 | $-9.40 | ||
| Q3 25 | $0.22 | $-4.30 | ||
| Q2 25 | $0.45 | $14.81 | ||
| Q1 25 | $0.61 | $-1.42 | ||
| Q4 24 | $1.21 | $10.68 | ||
| Q3 24 | $0.04 | $0.31 | ||
| Q2 24 | $0.98 | $0.97 | ||
| Q1 24 | $1.42 | $0.34 |
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 | $2.2B |
| 总债务越低越好 | $7.6B | — |
| 股东权益账面价值 | $22.7B | $3.2B |
| 总资产 | $52.4B | $8.2B |
| 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ADMFLR
| Q4 25 | $1.0B | $2.2B | ||
| Q3 25 | $1.2B | $2.8B | ||
| Q2 25 | $1.1B | $2.3B | ||
| Q1 25 | $864.0M | $2.5B | ||
| Q4 24 | $611.0M | $3.0B | ||
| Q3 24 | $784.0M | $3.0B | ||
| Q2 24 | $764.0M | $2.7B | ||
| Q1 24 | $830.0M | $2.4B |
总债务ADMFLR
| 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ADMFLR
| Q4 25 | $22.7B | $3.2B | ||
| Q3 25 | $22.5B | $5.2B | ||
| Q2 25 | $22.4B | $5.9B | ||
| Q1 25 | $22.1B | $3.6B | ||
| Q4 24 | $22.2B | $3.9B | ||
| Q3 24 | $22.0B | $2.3B | ||
| Q2 24 | $22.2B | $2.1B | ||
| Q1 24 | $23.2B | $2.0B |
总资产ADMFLR
| Q4 25 | $52.4B | $8.2B | ||
| Q3 25 | $51.9B | $11.5B | ||
| Q2 25 | $52.0B | $11.8B | ||
| Q1 25 | $53.4B | $8.4B | ||
| Q4 24 | $53.3B | $9.1B | ||
| Q3 24 | $52.2B | $7.1B | ||
| Q2 24 | $52.7B | $6.8B | ||
| Q1 24 | $54.8B | $6.7B |
负债/权益比ADMFLR
| 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 | $-366.0M |
| 自由现金流经营现金流 - 资本支出 | $-669.0M | $-378.0M |
| 自由现金流率自由现金流/营收 | -11.1% | -9.1% |
| 资本支出强度资本支出/营收 | 5.9% | 0.3% |
| 现金转化率经营现金流/净利润 | -0.69× | — |
| 过去12个月自由现金流最近4个季度 | $4.2B | $-437.0M |
8季度趋势，按日历期对齐
经营现金流ADMFLR
| Q4 25 | $-313.0M | $-366.0M | ||
| Q3 25 | $1.8B | $286.0M | ||
| Q2 25 | $4.3B | $-21.0M | ||
| Q1 25 | $-342.0M | $-286.0M | ||
| Q4 24 | $322.0M | $327.0M | ||
| Q3 24 | $1.3B | $330.0M | ||
| Q2 24 | $468.0M | $282.0M | ||
| Q1 24 | $700.0M | $-111.0M |
自由现金流ADMFLR
| Q4 25 | $-669.0M | $-378.0M | ||
| Q3 25 | $1.5B | $273.0M | ||
| Q2 25 | $4.0B | $-35.0M | ||
| Q1 25 | $-633.0M | $-297.0M | ||
| Q4 24 | $-170.0M | $296.0M | ||
| Q3 24 | $919.0M | $279.0M | ||
| Q2 24 | $106.0M | $234.0M | ||
| Q1 24 | $372.0M | $-145.0M |
自由现金流率ADMFLR
| Q4 25 | -11.1% | -9.1% | ||
| Q3 25 | 23.6% | 8.1% | ||
| Q2 25 | 63.0% | -0.9% | ||
| Q1 25 | -10.3% | -7.5% | ||
| Q4 24 | 0.7% | 6.9% | ||
| Q3 24 | 15.3% | 6.8% | ||
| Q2 24 | 0.5% | 5.5% | ||
| Q1 24 | 1.7% | -3.9% |
资本支出强度ADMFLR
| Q4 25 | 5.9% | 0.3% | ||
| Q3 25 | 4.6% | 0.4% | ||
| Q2 25 | 4.8% | 0.4% | ||
| Q1 25 | 4.7% | 0.3% | ||
| Q4 24 | -1.9% | 0.7% | ||
| Q3 24 | 6.4% | 1.2% | ||
| Q2 24 | 1.6% | 1.1% | ||
| Q1 24 | 1.5% | 0.9% |
现金转化率ADMFLR
| Q4 25 | -0.69× | — | ||
| Q3 25 | 16.75× | — | ||
| Q2 25 | 19.63× | -0.01× | ||
| Q1 25 | -1.16× | — | ||
| Q4 24 | 0.57× | 0.18× | ||
| Q3 24 | 72.22× | 6.11× | ||
| Q2 24 | 0.96× | 1.67× | ||
| Q1 24 | 0.96× | -1.88× |
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% |
FLR
| Urban Solutions Segment | $2.6B | 63% |
| Energy Solutions Segment | $943.0M | 23% |
| Mission Solutions Segment | $600.0M | 14% |
