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艾地盟（ADM）与味好美（MKC）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味好美的3.3倍（$6.1B vs $1.9B）。味好美净利率更高（12.2% vs 7.5%，领先4.7%）。艾地盟同比增速更快（123.5% vs 2.9%）。过去两年味好美的营收复合增速更高（7.5% 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。
味好美是美国知名食品企业，专业生产、营销并配送香辛料、复合调味料、调味酱及各类风味产品，客户覆盖零售终端、食品生产商及餐饮服务企业，是全球领先的风味产品供应商。
ADM vs MKC — 直观对比
营收规模更大
ADM
是对方的3.3倍
$1.9B
营收增速更快
ADM
高出120.6%
2.9%
净利率更高
MKC
高出4.7%
7.5%
两年增速更快
MKC
近两年复合增速
-47.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $1.9B |
| 净利润 | $456.0M | $226.6M |
| 毛利率 | 20.0% | 38.9% |
| 营业利润率 | 7.9% | 16.8% |
| 净利率 | 7.5% | 12.2% |
| 营收同比 | 123.5% | 2.9% |
| 净利润同比 | -19.6% | 5.3% |
| 每股收益（稀释后） | $0.95 | $0.84 |
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ADMMKC
| Q4 25 | $6.1B | $1.9B | ||
| Q3 25 | $6.4B | $1.7B | ||
| Q2 25 | $6.3B | $1.7B | ||
| Q1 25 | $6.1B | $1.6B | ||
| Q4 24 | $-25.7B | $1.8B | ||
| Q3 24 | $6.0B | $1.7B | ||
| Q2 24 | $22.2B | $1.6B | ||
| Q1 24 | $21.8B | $1.6B |
净利润ADMMKC
| Q4 25 | $456.0M | $226.6M | ||
| Q3 25 | $108.0M | $225.5M | ||
| Q2 25 | $219.0M | $175.0M | ||
| Q1 25 | $295.0M | $162.3M | ||
| Q4 24 | $567.0M | $215.2M | ||
| Q3 24 | $18.0M | $223.1M | ||
| Q2 24 | $486.0M | $184.2M | ||
| Q1 24 | $729.0M | $166.0M |
毛利率ADMMKC
| Q4 25 | 20.0% | 38.9% | ||
| Q3 25 | 19.8% | 37.4% | ||
| Q2 25 | 21.6% | 37.5% | ||
| Q1 25 | 19.2% | 37.6% | ||
| Q4 24 | — | 40.2% | ||
| Q3 24 | 22.8% | 38.7% | ||
| Q2 24 | 6.3% | 37.7% | ||
| Q1 24 | 7.6% | 37.4% |
营业利润率ADMMKC
| Q4 25 | 7.9% | 16.8% | ||
| Q3 25 | 2.3% | 16.7% | ||
| Q2 25 | 4.4% | 14.8% | ||
| Q1 25 | 5.7% | 14.0% | ||
| Q4 24 | — | 17.0% | ||
| Q3 24 | 1.8% | 17.1% | ||
| Q2 24 | 2.7% | 14.2% | ||
| Q1 24 | 4.1% | 14.6% |
净利率ADMMKC
| Q4 25 | 7.5% | 12.2% | ||
| Q3 25 | 1.7% | 13.1% | ||
| Q2 25 | 3.5% | 10.5% | ||
| Q1 25 | 4.8% | 10.1% | ||
| Q4 24 | -2.2% | 12.0% | ||
| Q3 24 | 0.3% | 13.3% | ||
| Q2 24 | 2.2% | 11.2% | ||
| Q1 24 | 3.3% | 10.4% |
每股收益（稀释后）ADMMKC
| Q4 25 | $0.95 | $0.84 | ||
| Q3 25 | $0.22 | $0.84 | ||
| Q2 25 | $0.45 | $0.65 | ||
| Q1 25 | $0.61 | $0.60 | ||
| Q4 24 | $1.21 | $0.79 | ||
| Q3 24 | $0.04 | $0.83 | ||
| Q2 24 | $0.98 | $0.68 | ||
| Q1 24 | $1.42 | $0.62 |
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 | $95.9M |
| 总债务越低越好 | $7.6B | $3.6B |
| 股东权益账面价值 | $22.7B | $5.7B |
| 总资产 | $52.4B | $13.2B |
| 负债/权益比越低杠杆越低 | 0.33× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资ADMMKC
| Q4 25 | $1.0B | $95.9M | ||
| Q3 25 | $1.2B | $94.9M | ||
| Q2 25 | $1.1B | $124.1M | ||
| Q1 25 | $864.0M | $102.8M | ||
| Q4 24 | $611.0M | $186.1M | ||
| Q3 24 | $784.0M | $200.8M | ||
| Q2 24 | $764.0M | $166.3M | ||
| Q1 24 | $830.0M | $178.0M |
总债务ADMMKC
| Q4 25 | $7.6B | $3.6B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | $8.3B | $3.9B | ||
| Q3 24 | $7.6B | $3.4B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.1B |
股东权益ADMMKC
| Q4 25 | $22.7B | $5.7B | ||
| Q3 25 | $22.5B | $5.8B | ||
| Q2 25 | $22.4B | $5.6B | ||
| Q1 25 | $22.1B | $5.4B | ||
| Q4 24 | $22.2B | $5.3B | ||
| Q3 24 | $22.0B | $5.4B | ||
| Q2 24 | $22.2B | $5.3B | ||
| Q1 24 | $23.2B | $5.2B |
总资产ADMMKC
| Q4 25 | $52.4B | $13.2B | ||
| Q3 25 | $51.9B | $13.2B | ||
| Q2 25 | $52.0B | $13.2B | ||
| Q1 25 | $53.4B | $12.9B | ||
| Q4 24 | $53.3B | $13.1B | ||
| Q3 24 | $52.2B | $13.2B | ||
| Q2 24 | $52.7B | $13.0B | ||
| Q1 24 | $54.8B | $12.9B |
负债/权益比ADMMKC
| Q4 25 | 0.33× | 0.63× | ||
| Q3 25 | — | 0.67× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | 0.37× | 0.73× | ||
| Q3 24 | 0.35× | 0.63× | ||
| Q2 24 | — | 0.77× | ||
| Q1 24 | — | 0.79× |
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 | $542.0M |
| 自由现金流经营现金流 - 资本支出 | $-669.0M | — |
| 自由现金流率自由现金流/营收 | -11.1% | — |
| 资本支出强度资本支出/营收 | 5.9% | — |
| 现金转化率经营现金流/净利润 | -0.69× | 2.39× |
| 过去12个月自由现金流最近4个季度 | $4.2B | — |
8季度趋势，按日历期对齐
经营现金流ADMMKC
| Q4 25 | $-313.0M | $542.0M | ||
| Q3 25 | $1.8B | $258.8M | ||
| Q2 25 | $4.3B | $45.9M | ||
| Q1 25 | $-342.0M | $115.5M | ||
| Q4 24 | $322.0M | $458.7M | ||
| Q3 24 | $1.3B | $161.7M | ||
| Q2 24 | $468.0M | $163.1M | ||
| Q1 24 | $700.0M | $138.4M |
自由现金流ADMMKC
| Q4 25 | $-669.0M | — | ||
| Q3 25 | $1.5B | $206.1M | ||
| Q2 25 | $4.0B | $-2.4M | ||
| Q1 25 | $-633.0M | $78.4M | ||
| Q4 24 | $-170.0M | — | ||
| Q3 24 | $919.0M | $102.7M | ||
| Q2 24 | $106.0M | $94.8M | ||
| Q1 24 | $372.0M | $76.4M |
自由现金流率ADMMKC
| Q4 25 | -11.1% | — | ||
| Q3 25 | 23.6% | 11.9% | ||
| Q2 25 | 63.0% | -0.1% | ||
| Q1 25 | -10.3% | 4.9% | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 15.3% | 6.1% | ||
| Q2 24 | 0.5% | 5.8% | ||
| Q1 24 | 1.7% | 4.8% |
资本支出强度ADMMKC
| Q4 25 | 5.9% | — | ||
| Q3 25 | 4.6% | 3.1% | ||
| Q2 25 | 4.8% | 2.9% | ||
| Q1 25 | 4.7% | 2.3% | ||
| Q4 24 | -1.9% | — | ||
| Q3 24 | 6.4% | 3.5% | ||
| Q2 24 | 1.6% | 4.2% | ||
| Q1 24 | 1.5% | 3.9% |
现金转化率ADMMKC
| Q4 25 | -0.69× | 2.39× | ||
| Q3 25 | 16.75× | 1.15× | ||
| Q2 25 | 19.63× | 0.26× | ||
| Q1 25 | -1.16× | 0.71× | ||
| Q4 24 | 0.57× | 2.13× | ||
| Q3 24 | 72.22× | 0.72× | ||
| Q2 24 | 0.96× | 0.89× | ||
| Q1 24 | 0.96× | 0.83× |
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% |
MKC
| Consumer | $1.1B | 61% |
| Flavor Solutions | $723.1M | 39% |
