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艾地盟（ADM）与Freshpet, Inc.（FRPT）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Freshpet, Inc.的21.2倍（$6.1B vs $285.2M）。Freshpet, Inc.净利率更高（11.9% vs 7.5%，领先4.3%）。艾地盟同比增速更快（123.5% vs 8.6%）。Freshpet, Inc.自由现金流更多（$2.1M vs $-669.0M）。过去两年Freshpet, Inc.的营收复合增速更高（12.9% 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。
Freshpet, Inc.是一家美国宠物食品企业，主打鲜制猫粮、狗粮产品，相关产品需冷藏保存，目前在纳斯达克上市，股票代码为FRPT。
ADM vs FRPT — 直观对比
营收规模更大
ADM
是对方的21.2倍
$285.2M
营收增速更快
ADM
高出115.0%
8.6%
净利率更高
FRPT
高出4.3%
7.5%
自由现金流更多
FRPT
多$671.1M
$-669.0M
两年增速更快
FRPT
近两年复合增速
-47.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $285.2M |
| 净利润 | $456.0M | $33.8M |
| 毛利率 | 20.0% | 43.3% |
| 营业利润率 | 7.9% | 15.6% |
| 净利率 | 7.5% | 11.9% |
| 营收同比 | 123.5% | 8.6% |
| 净利润同比 | -19.6% | 86.6% |
| 每股收益（稀释后） | $0.95 | $0.71 |
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ADMFRPT
| Q4 25 | $6.1B | $285.2M | ||
| Q3 25 | $6.4B | $288.8M | ||
| Q2 25 | $6.3B | $264.7M | ||
| Q1 25 | $6.1B | $263.2M | ||
| Q4 24 | $-25.7B | $262.7M | ||
| Q3 24 | $6.0B | $253.4M | ||
| Q2 24 | $22.2B | $235.3M | ||
| Q1 24 | $21.8B | $223.8M |
净利润ADMFRPT
| Q4 25 | $456.0M | $33.8M | ||
| Q3 25 | $108.0M | $101.7M | ||
| Q2 25 | $219.0M | $16.4M | ||
| Q1 25 | $295.0M | $-12.7M | ||
| Q4 24 | $567.0M | $18.1M | ||
| Q3 24 | $18.0M | $11.9M | ||
| Q2 24 | $486.0M | $-1.7M | ||
| Q1 24 | $729.0M | $18.6M |
毛利率ADMFRPT
| Q4 25 | 20.0% | 43.3% | ||
| Q3 25 | 19.8% | 39.5% | ||
| Q2 25 | 21.6% | 40.9% | ||
| Q1 25 | 19.2% | 39.4% | ||
| Q4 24 | — | 42.5% | ||
| Q3 24 | 22.8% | 40.4% | ||
| Q2 24 | 6.3% | 39.9% | ||
| Q1 24 | 7.6% | 39.4% |
营业利润率ADMFRPT
| Q4 25 | 7.9% | 15.6% | ||
| Q3 25 | 2.3% | 8.6% | ||
| Q2 25 | 4.4% | 6.7% | ||
| Q1 25 | 5.7% | -4.4% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | 1.8% | 4.7% | ||
| Q2 24 | 2.7% | -0.7% | ||
| Q1 24 | 4.1% | 3.8% |
净利率ADMFRPT
| Q4 25 | 7.5% | 11.9% | ||
| Q3 25 | 1.7% | 35.2% | ||
| Q2 25 | 3.5% | 6.2% | ||
| Q1 25 | 4.8% | -4.8% | ||
| Q4 24 | -2.2% | 6.9% | ||
| Q3 24 | 0.3% | 4.7% | ||
| Q2 24 | 2.2% | -0.7% | ||
| Q1 24 | 3.3% | 8.3% |
每股收益（稀释后）ADMFRPT
| Q4 25 | $0.95 | $0.71 | ||
| Q3 25 | $0.22 | $1.86 | ||
| Q2 25 | $0.45 | $0.33 | ||
| Q1 25 | $0.61 | $-0.26 | ||
| Q4 24 | $1.21 | $0.35 | ||
| Q3 24 | $0.04 | $0.24 | ||
| Q2 24 | $0.98 | $-0.03 | ||
| Q1 24 | $1.42 | $0.37 |
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 | $278.0M |
| 总债务越低越好 | $7.6B | — |
| 股东权益账面价值 | $22.7B | $1.2B |
| 总资产 | $52.4B | $1.8B |
| 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ADMFRPT
| Q4 25 | $1.0B | $278.0M | ||
| Q3 25 | $1.2B | $274.6M | ||
| Q2 25 | $1.1B | $243.7M | ||
| Q1 25 | $864.0M | $243.7M | ||
| Q4 24 | $611.0M | $268.6M | ||
| Q3 24 | $784.0M | $274.6M | ||
| Q2 24 | $764.0M | $251.7M | ||
| Q1 24 | $830.0M | $257.9M |
总债务ADMFRPT
| 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ADMFRPT
| Q4 25 | $22.7B | $1.2B | ||
| Q3 25 | $22.5B | $1.2B | ||
| Q2 25 | $22.4B | $1.1B | ||
| Q1 25 | $22.1B | $1.0B | ||
| Q4 24 | $22.2B | $1.1B | ||
| Q3 24 | $22.0B | $1.0B | ||
| Q2 24 | $22.2B | $995.8M | ||
| Q1 24 | $23.2B | $977.8M |
总资产ADMFRPT
| Q4 25 | $52.4B | $1.8B | ||
| Q3 25 | $51.9B | $1.7B | ||
| Q2 25 | $52.0B | $1.6B | ||
| Q1 25 | $53.4B | $1.6B | ||
| Q4 24 | $53.3B | $1.6B | ||
| Q3 24 | $52.2B | $1.5B | ||
| Q2 24 | $52.7B | $1.5B | ||
| Q1 24 | $54.8B | $1.5B |
负债/权益比ADMFRPT
| 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 | $55.1M |
| 自由现金流经营现金流 - 资本支出 | $-669.0M | $2.1M |
| 自由现金流率自由现金流/营收 | -11.1% | 0.7% |
| 资本支出强度资本支出/营收 | 5.9% | 18.6% |
| 现金转化率经营现金流/净利润 | -0.69× | 1.63× |
| 过去12个月自由现金流最近4个季度 | $4.2B | $12.4M |
8季度趋势，按日历期对齐
经营现金流ADMFRPT
| Q4 25 | $-313.0M | $55.1M | ||
| Q3 25 | $1.8B | $66.8M | ||
| Q2 25 | $4.3B | $33.9M | ||
| Q1 25 | $-342.0M | $4.8M | ||
| Q4 24 | $322.0M | $50.4M | ||
| Q3 24 | $1.3B | $56.1M | ||
| Q2 24 | $468.0M | $42.4M | ||
| Q1 24 | $700.0M | $5.4M |
自由现金流ADMFRPT
| Q4 25 | $-669.0M | $2.1M | ||
| Q3 25 | $1.5B | $31.6M | ||
| Q2 25 | $4.0B | $445.0K | ||
| Q1 25 | $-633.0M | $-21.7M | ||
| Q4 24 | $-170.0M | $-7.9M | ||
| Q3 24 | $919.0M | $22.1M | ||
| Q2 24 | $106.0M | $-5.9M | ||
| Q1 24 | $372.0M | $-41.1M |
自由现金流率ADMFRPT
| Q4 25 | -11.1% | 0.7% | ||
| Q3 25 | 23.6% | 10.9% | ||
| Q2 25 | 63.0% | 0.2% | ||
| Q1 25 | -10.3% | -8.2% | ||
| Q4 24 | 0.7% | -3.0% | ||
| Q3 24 | 15.3% | 8.7% | ||
| Q2 24 | 0.5% | -2.5% | ||
| Q1 24 | 1.7% | -18.3% |
资本支出强度ADMFRPT
| Q4 25 | 5.9% | 18.6% | ||
| Q3 25 | 4.6% | 12.2% | ||
| Q2 25 | 4.8% | 12.6% | ||
| Q1 25 | 4.7% | 10.1% | ||
| Q4 24 | -1.9% | 22.2% | ||
| Q3 24 | 6.4% | 13.4% | ||
| Q2 24 | 1.6% | 20.5% | ||
| Q1 24 | 1.5% | 20.8% |
现金转化率ADMFRPT
| Q4 25 | -0.69× | 1.63× | ||
| Q3 25 | 16.75× | 0.66× | ||
| Q2 25 | 19.63× | 2.07× | ||
| Q1 25 | -1.16× | — | ||
| Q4 24 | 0.57× | 2.78× | ||
| Q3 24 | 72.22× | 4.72× | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.96× | 0.29× |
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% |
FRPT
| Sales Channel Grocery Mass International And Digital | $228.4M | 80% |
| Sales Channel Pet Specialty And Club | $56.8M | 20% |
