vs
艾地盟（ADM）与宜瑞安（INGR）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宜瑞安的3.4倍（$6.1B vs $1.8B）。宜瑞安净利率更高（9.5% vs 7.5%，领先2.0%）。艾地盟同比增速更快（123.5% vs -2.4%）。宜瑞安自由现金流更多（$270.0M vs $-669.0M）。过去两年宜瑞安的营收复合增速更高（-3.4% 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。
宜瑞安（Ingredion Inc.）是总部位于美国伊利诺伊州的食品饮料配料供应商，主打产品包括淀粉、非转基因甜味剂、甜菊糖、豌豆蛋白等，以玉米、木薯、马铃薯、谷物、果蔬等为原料，产品供应食品、饮料、酿造、制药等多个行业，在全球44个站点拥有约1.2万名员工，客户覆盖超120个国家。
ADM vs INGR — 直观对比
营收规模更大
ADM
是对方的3.4倍
$1.8B
营收增速更快
ADM
高出125.9%
-2.4%
净利率更高
INGR
高出2.0%
7.5%
自由现金流更多
INGR
多$939.0M
$-669.0M
两年增速更快
INGR
近两年复合增速
-47.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $1.8B |
| 净利润 | $456.0M | $167.0M |
| 毛利率 | 20.0% | 24.5% |
| 营业利润率 | 7.9% | 12.5% |
| 净利率 | 7.5% | 9.5% |
| 营收同比 | 123.5% | -2.4% |
| 净利润同比 | -19.6% | 72.2% |
| 每股收益（稀释后） | $0.95 | $2.58 |
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ADMINGR
| Q4 25 | $6.1B | $1.8B | ||
| Q3 25 | $6.4B | $1.8B | ||
| Q2 25 | $6.3B | $1.8B | ||
| Q1 25 | $6.1B | $1.8B | ||
| Q4 24 | $-25.7B | $1.8B | ||
| Q3 24 | $6.0B | $1.9B | ||
| Q2 24 | $22.2B | $1.9B | ||
| Q1 24 | $21.8B | $1.9B |
净利润ADMINGR
| Q4 25 | $456.0M | $167.0M | ||
| Q3 25 | $108.0M | $171.0M | ||
| Q2 25 | $219.0M | $196.0M | ||
| Q1 25 | $295.0M | $197.0M | ||
| Q4 24 | $567.0M | $97.0M | ||
| Q3 24 | $18.0M | $188.0M | ||
| Q2 24 | $486.0M | $148.0M | ||
| Q1 24 | $729.0M | $216.0M |
毛利率ADMINGR
| Q4 25 | 20.0% | 24.5% | ||
| Q3 25 | 19.8% | 25.1% | ||
| Q2 25 | 21.6% | 26.0% | ||
| Q1 25 | 19.2% | 25.7% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | 22.8% | 25.6% | ||
| Q2 24 | 6.3% | 23.7% | ||
| Q1 24 | 7.6% | 22.2% |
营业利润率ADMINGR
| Q4 25 | 7.9% | 12.5% | ||
| Q3 25 | 2.3% | 13.7% | ||
| Q2 25 | 4.4% | 14.8% | ||
| Q1 25 | 5.7% | 15.2% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | 1.8% | 14.3% | ||
| Q2 24 | 2.7% | 12.8% | ||
| Q1 24 | 4.1% | 11.3% |
净利率ADMINGR
| Q4 25 | 7.5% | 9.5% | ||
| Q3 25 | 1.7% | 9.4% | ||
| Q2 25 | 3.5% | 10.7% | ||
| Q1 25 | 4.8% | 10.9% | ||
| Q4 24 | -2.2% | 5.4% | ||
| Q3 24 | 0.3% | 10.1% | ||
| Q2 24 | 2.2% | 7.9% | ||
| Q1 24 | 3.3% | 11.5% |
每股收益（稀释后）ADMINGR
| Q4 25 | $0.95 | $2.58 | ||
| Q3 25 | $0.22 | $2.61 | ||
| Q2 25 | $0.45 | $2.99 | ||
| Q1 25 | $0.61 | $3.00 | ||
| Q4 24 | $1.21 | $1.43 | ||
| Q3 24 | $0.04 | $2.83 | ||
| Q2 24 | $0.98 | $2.22 | ||
| Q1 24 | $1.42 | $3.23 |
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 | $1.0B |
| 总债务越低越好 | $7.6B | — |
| 股东权益账面价值 | $22.7B | $4.3B |
| 总资产 | $52.4B | $7.9B |
| 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ADMINGR
| Q4 25 | $1.0B | $1.0B | ||
| Q3 25 | $1.2B | $915.0M | ||
| Q2 25 | $1.1B | $861.0M | ||
| Q1 25 | $864.0M | $837.0M | ||
| Q4 24 | $611.0M | $997.0M | ||
| Q3 24 | $784.0M | $877.0M | ||
| Q2 24 | $764.0M | $505.0M | ||
| Q1 24 | $830.0M | $438.0M |
总债务ADMINGR
| 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ADMINGR
| Q4 25 | $22.7B | $4.3B | ||
| Q3 25 | $22.5B | $4.2B | ||
| Q2 25 | $22.4B | $4.2B | ||
| Q1 25 | $22.1B | $4.0B | ||
| Q4 24 | $22.2B | $3.8B | ||
| Q3 24 | $22.0B | $4.0B | ||
| Q2 24 | $22.2B | $3.7B | ||
| Q1 24 | $23.2B | $3.7B |
总资产ADMINGR
| Q4 25 | $52.4B | $7.9B | ||
| Q3 25 | $51.9B | $7.8B | ||
| Q2 25 | $52.0B | $7.8B | ||
| Q1 25 | $53.4B | $7.5B | ||
| Q4 24 | $53.3B | $7.4B | ||
| Q3 24 | $52.2B | $7.5B | ||
| Q2 24 | $52.7B | $7.2B | ||
| Q1 24 | $54.8B | $7.3B |
负债/权益比ADMINGR
| 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 | $405.0M |
| 自由现金流经营现金流 - 资本支出 | $-669.0M | $270.0M |
| 自由现金流率自由现金流/营收 | -11.1% | 15.4% |
| 资本支出强度资本支出/营收 | 5.9% | 7.7% |
| 现金转化率经营现金流/净利润 | -0.69× | 2.43× |
| 过去12个月自由现金流最近4个季度 | $4.2B | $511.0M |
8季度趋势，按日历期对齐
经营现金流ADMINGR
| Q4 25 | $-313.0M | $405.0M | ||
| Q3 25 | $1.8B | $277.0M | ||
| Q2 25 | $4.3B | $185.0M | ||
| Q1 25 | $-342.0M | $77.0M | ||
| Q4 24 | $322.0M | $436.0M | ||
| Q3 24 | $1.3B | $479.0M | ||
| Q2 24 | $468.0M | $312.0M | ||
| Q1 24 | $700.0M | $209.0M |
自由现金流ADMINGR
| Q4 25 | $-669.0M | $270.0M | ||
| Q3 25 | $1.5B | $172.0M | ||
| Q2 25 | $4.0B | $84.0M | ||
| Q1 25 | $-633.0M | $-15.0M | ||
| Q4 24 | $-170.0M | $311.0M | ||
| Q3 24 | $919.0M | $429.0M | ||
| Q2 24 | $106.0M | $257.0M | ||
| Q1 24 | $372.0M | $144.0M |
自由现金流率ADMINGR
| Q4 25 | -11.1% | 15.4% | ||
| Q3 25 | 23.6% | 9.5% | ||
| Q2 25 | 63.0% | 4.6% | ||
| Q1 25 | -10.3% | -0.8% | ||
| Q4 24 | 0.7% | 17.3% | ||
| Q3 24 | 15.3% | 22.9% | ||
| Q2 24 | 0.5% | 13.7% | ||
| Q1 24 | 1.7% | 7.7% |
资本支出强度ADMINGR
| Q4 25 | 5.9% | 7.7% | ||
| Q3 25 | 4.6% | 5.8% | ||
| Q2 25 | 4.8% | 5.5% | ||
| Q1 25 | 4.7% | 5.1% | ||
| Q4 24 | -1.9% | 6.9% | ||
| Q3 24 | 6.4% | 2.7% | ||
| Q2 24 | 1.6% | 2.9% | ||
| Q1 24 | 1.5% | 3.5% |
现金转化率ADMINGR
| Q4 25 | -0.69× | 2.43× | ||
| Q3 25 | 16.75× | 1.62× | ||
| Q2 25 | 19.63× | 0.94× | ||
| Q1 25 | -1.16× | 0.39× | ||
| Q4 24 | 0.57× | 4.49× | ||
| Q3 24 | 72.22× | 2.55× | ||
| Q2 24 | 0.96× | 2.11× | ||
| Q1 24 | 0.96× | 0.97× |
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% |
INGR
| Food And Industrial Ingredients LATAM Segment | $599.0M | 34% |
| Texture And Healthful Solutions Segment | $598.0M | 34% |
| Food And Industrial Ingredients U.S.Canada Segment | $486.0M | 28% |
| Other | $74.0M | 4% |
