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艾地盟（ADM）与BOSTON BEER CO INC（SAM）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BOSTON BEER CO INC的15.7倍（$6.1B vs $385.7M）。艾地盟净利率更高（7.5% vs -5.8%，领先13.4%）。艾地盟同比增速更快（123.5% vs -4.1%）。BOSTON BEER CO INC自由现金流更多（$22.1M vs $-669.0M）。过去两年BOSTON BEER CO INC的营收复合增速更高（-4.9% 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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
ADM vs SAM — 直观对比
营收规模更大
ADM
是对方的15.7倍
$385.7M
营收增速更快
ADM
高出127.7%
-4.1%
净利率更高
ADM
高出13.4%
-5.8%
自由现金流更多
SAM
多$691.1M
$-669.0M
两年增速更快
SAM
近两年复合增速
-47.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $385.7M |
| 净利润 | $456.0M | $-22.5M |
| 毛利率 | 20.0% | 43.5% |
| 营业利润率 | 7.9% | -8.6% |
| 净利率 | 7.5% | -5.8% |
| 营收同比 | 123.5% | -4.1% |
| 净利润同比 | -19.6% | 41.9% |
| 每股收益（稀释后） | $0.95 | $-1.97 |
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ADMSAM
| Q4 25 | $6.1B | $385.7M | ||
| Q3 25 | $6.4B | $537.5M | ||
| Q2 25 | $6.3B | $587.9M | ||
| Q1 25 | $6.1B | $453.9M | ||
| Q4 24 | $-25.7B | $402.3M | ||
| Q3 24 | $6.0B | $605.5M | ||
| Q2 24 | $22.2B | $579.1M | ||
| Q1 24 | $21.8B | $426.1M |
净利润ADMSAM
| Q4 25 | $456.0M | $-22.5M | ||
| Q3 25 | $108.0M | $46.2M | ||
| Q2 25 | $219.0M | $60.4M | ||
| Q1 25 | $295.0M | $24.4M | ||
| Q4 24 | $567.0M | $-38.8M | ||
| Q3 24 | $18.0M | $33.5M | ||
| Q2 24 | $486.0M | $52.3M | ||
| Q1 24 | $729.0M | $12.6M |
毛利率ADMSAM
| Q4 25 | 20.0% | 43.5% | ||
| Q3 25 | 19.8% | 50.8% | ||
| Q2 25 | 21.6% | 49.8% | ||
| Q1 25 | 19.2% | 48.3% | ||
| Q4 24 | — | 39.9% | ||
| Q3 24 | 22.8% | 46.3% | ||
| Q2 24 | 6.3% | 46.0% | ||
| Q1 24 | 7.6% | 43.7% |
营业利润率ADMSAM
| Q4 25 | 7.9% | -8.6% | ||
| Q3 25 | 2.3% | 11.5% | ||
| Q2 25 | 4.4% | 14.0% | ||
| Q1 25 | 5.7% | 7.4% | ||
| Q4 24 | — | -13.9% | ||
| Q3 24 | 1.8% | 7.6% | ||
| Q2 24 | 2.7% | 12.2% | ||
| Q1 24 | 4.1% | 3.6% |
净利率ADMSAM
| Q4 25 | 7.5% | -5.8% | ||
| Q3 25 | 1.7% | 8.6% | ||
| Q2 25 | 3.5% | 10.3% | ||
| Q1 25 | 4.8% | 5.4% | ||
| Q4 24 | -2.2% | -9.6% | ||
| Q3 24 | 0.3% | 5.5% | ||
| Q2 24 | 2.2% | 9.0% | ||
| Q1 24 | 3.3% | 3.0% |
每股收益（稀释后）ADMSAM
| Q4 25 | $0.95 | $-1.97 | ||
| Q3 25 | $0.22 | $4.25 | ||
| Q2 25 | $0.45 | $5.45 | ||
| Q1 25 | $0.61 | $2.16 | ||
| Q4 24 | $1.21 | $-3.23 | ||
| Q3 24 | $0.04 | $2.86 | ||
| Q2 24 | $0.98 | $4.39 | ||
| Q1 24 | $1.42 | $1.04 |
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 | $223.4M |
| 总债务越低越好 | $7.6B | — |
| 股东权益账面价值 | $22.7B | $846.3M |
| 总资产 | $52.4B | $1.2B |
| 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ADMSAM
| Q4 25 | $1.0B | $223.4M | ||
| Q3 25 | $1.2B | $250.5M | ||
| Q2 25 | $1.1B | $212.4M | ||
| Q1 25 | $864.0M | $152.5M | ||
| Q4 24 | $611.0M | $211.8M | ||
| Q3 24 | $784.0M | $255.6M | ||
| Q2 24 | $764.0M | $219.3M | ||
| Q1 24 | $830.0M | $205.4M |
总债务ADMSAM
| 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ADMSAM
| Q4 25 | $22.7B | $846.3M | ||
| Q3 25 | $22.5B | $911.0M | ||
| Q2 25 | $22.4B | $912.3M | ||
| Q1 25 | $22.1B | $897.0M | ||
| Q4 24 | $22.2B | $916.2M | ||
| Q3 24 | $22.0B | $1.0B | ||
| Q2 24 | $22.2B | $1.0B | ||
| Q1 24 | $23.2B | $1.0B |
总资产ADMSAM
| Q4 25 | $52.4B | $1.2B | ||
| Q3 25 | $51.9B | $1.2B | ||
| Q2 25 | $52.0B | $1.3B | ||
| Q1 25 | $53.4B | $1.2B | ||
| Q4 24 | $53.3B | $1.3B | ||
| Q3 24 | $52.2B | $1.4B | ||
| Q2 24 | $52.7B | $1.4B | ||
| Q1 24 | $54.8B | $1.4B |
负债/权益比ADMSAM
| 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 | $39.9M |
| 自由现金流经营现金流 - 资本支出 | $-669.0M | $22.1M |
| 自由现金流率自由现金流/营收 | -11.1% | 5.7% |
| 资本支出强度资本支出/营收 | 5.9% | 4.6% |
| 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 | $215.6M |
8季度趋势，按日历期对齐
经营现金流ADMSAM
| Q4 25 | $-313.0M | $39.9M | ||
| Q3 25 | $1.8B | $101.8M | ||
| Q2 25 | $4.3B | $126.5M | ||
| Q1 25 | $-342.0M | $1.9M | ||
| Q4 24 | $322.0M | $41.9M | ||
| Q3 24 | $1.3B | $115.9M | ||
| Q2 24 | $468.0M | $96.0M | ||
| Q1 24 | $700.0M | $-4.9M |
自由现金流ADMSAM
| Q4 25 | $-669.0M | $22.1M | ||
| Q3 25 | $1.5B | $89.2M | ||
| Q2 25 | $4.0B | $112.2M | ||
| Q1 25 | $-633.0M | $-8.0M | ||
| Q4 24 | $-170.0M | $18.4M | ||
| Q3 24 | $919.0M | $99.2M | ||
| Q2 24 | $106.0M | $75.6M | ||
| Q1 24 | $372.0M | $-20.6M |
自由现金流率ADMSAM
| Q4 25 | -11.1% | 5.7% | ||
| Q3 25 | 23.6% | 16.6% | ||
| Q2 25 | 63.0% | 19.1% | ||
| Q1 25 | -10.3% | -1.8% | ||
| Q4 24 | 0.7% | 4.6% | ||
| Q3 24 | 15.3% | 16.4% | ||
| Q2 24 | 0.5% | 13.1% | ||
| Q1 24 | 1.7% | -4.8% |
资本支出强度ADMSAM
| Q4 25 | 5.9% | 4.6% | ||
| Q3 25 | 4.6% | 2.3% | ||
| Q2 25 | 4.8% | 2.4% | ||
| Q1 25 | 4.7% | 2.2% | ||
| Q4 24 | -1.9% | 5.8% | ||
| Q3 24 | 6.4% | 2.8% | ||
| Q2 24 | 1.6% | 3.5% | ||
| Q1 24 | 1.5% | 3.7% |
现金转化率ADMSAM
| Q4 25 | -0.69× | — | ||
| Q3 25 | 16.75× | 2.21× | ||
| Q2 25 | 19.63× | 2.09× | ||
| Q1 25 | -1.16× | 0.08× | ||
| Q4 24 | 0.57× | — | ||
| Q3 24 | 72.22× | 3.46× | ||
| Q2 24 | 0.96× | 1.83× | ||
| Q1 24 | 0.96× | -0.39× |
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% |
SAM
暂无分部数据
