vs
艾地盟（ADM）与西斯科（SYY）财务数据对比。点击上方公司名可切换其他公司
西斯科的季度营收约是艾地盟的3.4倍（$20.8B vs $6.1B），艾地盟净利率更高（7.5% vs 1.9%，领先5.7%），艾地盟同比增速更快（123.5% vs 3.0%），西斯科自由现金流更多（$385.0M vs $-669.0M），过去两年西斯科的营收复合增速更高（3.5% 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。
西斯科是总部位于美国得克萨斯州休斯敦能源走廊区的跨国企业，主要为餐厅、医疗机构、教育机构、体育场馆等各类提供餐食的场所销售配送食品产品，同时也供应餐饮服务相关用品及设备。
ADM vs SYY — 直观对比
营收规模更大
SYY
是对方的3.4倍
$6.1B
营收增速更快
ADM
高出120.5%
3.0%
净利率更高
ADM
高出5.7%
1.9%
自由现金流更多
SYY
多$1.1B
$-669.0M
两年增速更快
SYY
近两年复合增速
-47.4%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $20.8B |
| 净利润 | $456.0M | $389.0M |
| 毛利率 | 20.0% | 18.3% |
| 营业利润率 | 7.9% | 3.3% |
| 净利率 | 7.5% | 1.9% |
| 营收同比 | 123.5% | 3.0% |
| 净利润同比 | -19.6% | -4.2% |
| 每股收益（稀释后） | $0.95 | $0.81 |
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ADMSYY
| Q4 25 | $6.1B | $20.8B | ||
| Q3 25 | $6.4B | $21.1B | ||
| Q2 25 | $6.3B | $21.1B | ||
| Q1 25 | $6.1B | $19.6B | ||
| Q4 24 | $-25.7B | $20.2B | ||
| Q3 24 | $6.0B | $20.5B | ||
| Q2 24 | $22.2B | $20.6B | ||
| Q1 24 | $21.8B | $19.4B |
净利润ADMSYY
| Q4 25 | $456.0M | $389.0M | ||
| Q3 25 | $108.0M | $476.0M | ||
| Q2 25 | $219.0M | $531.0M | ||
| Q1 25 | $295.0M | $401.0M | ||
| Q4 24 | $567.0M | $406.0M | ||
| Q3 24 | $18.0M | $490.0M | ||
| Q2 24 | $486.0M | $611.7M | ||
| Q1 24 | $729.0M | $424.7M |
毛利率ADMSYY
| Q4 25 | 20.0% | 18.3% | ||
| Q3 25 | 19.8% | 18.4% | ||
| Q2 25 | 21.6% | 18.9% | ||
| Q1 25 | 19.2% | 18.3% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | 22.8% | 18.3% | ||
| Q2 24 | 6.3% | 18.7% | ||
| Q1 24 | 7.6% | 18.6% |
营业利润率ADMSYY
| Q4 25 | 7.9% | 3.3% | ||
| Q3 25 | 2.3% | 3.8% | ||
| Q2 25 | 4.4% | 4.2% | ||
| Q1 25 | 5.7% | 3.5% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | 1.8% | 3.9% | ||
| Q2 24 | 2.7% | 4.7% | ||
| Q1 24 | 4.1% | 3.7% |
净利率ADMSYY
| Q4 25 | 7.5% | 1.9% | ||
| Q3 25 | 1.7% | 2.3% | ||
| Q2 25 | 3.5% | 2.5% | ||
| Q1 25 | 4.8% | 2.0% | ||
| Q4 24 | -2.2% | 2.0% | ||
| Q3 24 | 0.3% | 2.4% | ||
| Q2 24 | 2.2% | 3.0% | ||
| Q1 24 | 3.3% | 2.2% |
每股收益（稀释后）ADMSYY
| Q4 25 | $0.95 | $0.81 | ||
| Q3 25 | $0.22 | $0.99 | ||
| Q2 25 | $0.45 | $1.10 | ||
| Q1 25 | $0.61 | $0.82 | ||
| Q4 24 | $1.21 | $0.82 | ||
| Q3 24 | $0.04 | $0.99 | ||
| Q2 24 | $0.98 | $1.23 | ||
| Q1 24 | $1.42 | $0.85 |
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 | $1.2B |
| 总债务越低越好 | $7.6B | $12.4B |
| 股东权益账面价值 | $22.7B | $2.3B |
| 总资产 | $52.4B | $27.2B |
| 负债/权益比越低杠杆越低 | 0.33× | 5.45× |
8季度趋势，按日历期对齐
现金及短期投资ADMSYY
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $1.2B | $844.0M | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $864.0M | $1.5B | ||
| Q4 24 | $611.0M | $793.0M | ||
| Q3 24 | $784.0M | $733.0M | ||
| Q2 24 | $764.0M | $696.0M | ||
| Q1 24 | $830.0M | $598.3M |
总债务ADMSYY
| Q4 25 | $7.6B | $12.4B | ||
| Q3 25 | — | $11.5B | ||
| Q2 25 | — | $12.4B | ||
| Q1 25 | — | $12.2B | ||
| Q4 24 | $8.3B | $11.4B | ||
| Q3 24 | $7.6B | $11.9B | ||
| Q2 24 | — | $11.5B | ||
| Q1 24 | — | $12.1B |
股东权益ADMSYY
| Q4 25 | $22.7B | $2.3B | ||
| Q3 25 | $22.5B | $2.1B | ||
| Q2 25 | $22.4B | $1.8B | ||
| Q1 25 | $22.1B | $1.9B | ||
| Q4 24 | $22.2B | $2.0B | ||
| Q3 24 | $22.0B | $2.2B | ||
| Q2 24 | $22.2B | $1.9B | ||
| Q1 24 | $23.2B | $2.1B |
总资产ADMSYY
| Q4 25 | $52.4B | $27.2B | ||
| Q3 25 | $51.9B | $27.0B | ||
| Q2 25 | $52.0B | $26.8B | ||
| Q1 25 | $53.4B | $26.3B | ||
| Q4 24 | $53.3B | $25.3B | ||
| Q3 24 | $52.2B | $25.9B | ||
| Q2 24 | $52.7B | $24.9B | ||
| Q1 24 | $54.8B | $24.7B |
负债/权益比ADMSYY
| Q4 25 | 0.33× | 5.45× | ||
| Q3 25 | — | 5.54× | ||
| Q2 25 | — | 6.75× | ||
| Q1 25 | — | 6.37× | ||
| Q4 24 | 0.37× | 5.66× | ||
| Q3 24 | 0.35× | 5.38× | ||
| Q2 24 | — | 6.19× | ||
| Q1 24 | — | 5.77× |
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 | $525.0M |
| 自由现金流经营现金流 - 资本支出 | $-669.0M | $385.0M |
| 自由现金流率自由现金流/营收 | -11.1% | 1.9% |
| 资本支出强度资本支出/营收 | 5.9% | 0.7% |
| 现金转化率经营现金流/净利润 | -0.69× | 1.35× |
| 过去12个月自由现金流最近4个季度 | $4.2B | $1.8B |
8季度趋势，按日历期对齐
经营现金流ADMSYY
| Q4 25 | $-313.0M | $525.0M | ||
| Q3 25 | $1.8B | $86.0M | ||
| Q2 25 | $4.3B | $1.2B | ||
| Q1 25 | $-342.0M | $819.0M | ||
| Q4 24 | $322.0M | $445.0M | ||
| Q3 24 | $1.3B | $53.0M | ||
| Q2 24 | $468.0M | $1.6B | ||
| Q1 24 | $700.0M | $517.3M |
自由现金流ADMSYY
| Q4 25 | $-669.0M | $385.0M | ||
| Q3 25 | $1.5B | $-74.0M | ||
| Q2 25 | $4.0B | $819.0M | ||
| Q1 25 | $-633.0M | $620.0M | ||
| Q4 24 | $-170.0M | $234.0M | ||
| Q3 24 | $919.0M | $-69.0M | ||
| Q2 24 | $106.0M | $1.3B | ||
| Q1 24 | $372.0M | $333.9M |
自由现金流率ADMSYY
| Q4 25 | -11.1% | 1.9% | ||
| Q3 25 | 23.6% | -0.3% | ||
| Q2 25 | 63.0% | 3.9% | ||
| Q1 25 | -10.3% | 3.2% | ||
| Q4 24 | 0.7% | 1.2% | ||
| Q3 24 | 15.3% | -0.3% | ||
| Q2 24 | 0.5% | 6.4% | ||
| Q1 24 | 1.7% | 1.7% |
资本支出强度ADMSYY
| Q4 25 | 5.9% | 0.7% | ||
| Q3 25 | 4.6% | 0.8% | ||
| Q2 25 | 4.8% | 1.8% | ||
| Q1 25 | 4.7% | 1.0% | ||
| Q4 24 | -1.9% | 1.0% | ||
| Q3 24 | 6.4% | 0.6% | ||
| Q2 24 | 1.6% | 1.5% | ||
| Q1 24 | 1.5% | 0.9% |
现金转化率ADMSYY
| Q4 25 | -0.69× | 1.35× | ||
| Q3 25 | 16.75× | 0.18× | ||
| Q2 25 | 19.63× | 2.25× | ||
| Q1 25 | -1.16× | 2.04× | ||
| Q4 24 | 0.57× | 1.10× | ||
| Q3 24 | 72.22× | 0.11× | ||
| Q2 24 | 0.96× | 2.64× | ||
| Q1 24 | 0.96× | 1.22× |
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% |
SYY
| International Foodservice Operations | $4.0B | 19% |
| Fresh And Frozen Meats1 | $3.0B | 14% |
| Canned And Dry Products1 | $2.7B | 13% |
| Sygma Segment | $2.1B | 10% |
| Frozen Fruits Vegetables Bakery And Other1 | $2.1B | 10% |
| Dairy Products1 | $1.5B | 7% |
| Poultry1 | $1.3B | 6% |
| Fresh Produce1 | $1.3B | 6% |
| Paper And Disposables1 | $1.0B | 5% |
| Seafood1 | $542.0M | 3% |
| Beverage Products1 | $390.0M | 2% |
| Other Products | $289.0M | 1% |
| Equipment And Smallwares | $286.0M | 1% |
