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艾地盟（ADM）与Village Farms International, Inc.（VFF）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Village Farms International, Inc.的495.2倍（$6.1B vs $12.2M）。Village Farms International, Inc.净利率更高（19.9% vs 7.5%，领先12.3%）。艾地盟同比增速更快（123.5% vs 31.5%）。过去两年艾地盟的营收复合增速更高（-47.4% vs -60.4%）
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。
格拉夫顿乡村奶酪公司是一家位于美国佛蒙特州格拉夫顿镇的奶酪生产商，主要生产手工熟成切达奶酪，产品以传统工艺打造，风味醇厚浓郁，在北美手工奶酪市场拥有良好的消费者口碑。
ADM vs VFF — 直观对比
营收规模更大
ADM
是对方的495.2倍
$12.2M
营收增速更快
ADM
高出92.0%
31.5%
净利率更高
VFF
高出12.3%
7.5%
两年增速更快
ADM
近两年复合增速
-60.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $12.2M |
| 净利润 | $456.0M | $2.4M |
| 毛利率 | 20.0% | — |
| 营业利润率 | 7.9% | — |
| 净利率 | 7.5% | 19.9% |
| 营收同比 | 123.5% | 31.5% |
| 净利润同比 | -19.6% | 128.2% |
| 每股收益（稀释后） | $0.95 | $0.01 |
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ADMVFF
| Q4 25 | $6.1B | $12.2M | ||
| Q3 25 | $6.4B | $66.7M | ||
| Q2 25 | $6.3B | $59.9M | ||
| Q1 25 | $6.1B | $77.1M | ||
| Q4 24 | $-25.7B | $9.3M | ||
| Q3 24 | $6.0B | $54.9M | ||
| Q2 24 | $22.2B | $53.6M | ||
| Q1 24 | $21.8B | $78.1M |
净利润ADMVFF
| Q4 25 | $456.0M | $2.4M | ||
| Q3 25 | $108.0M | $10.2M | ||
| Q2 25 | $219.0M | $26.5M | ||
| Q1 25 | $295.0M | $-6.7M | ||
| Q4 24 | $567.0M | $-8.6M | ||
| Q3 24 | $18.0M | $-820.0K | ||
| Q2 24 | $486.0M | $-23.5M | ||
| Q1 24 | $729.0M | $-2.9M |
毛利率ADMVFF
| Q4 25 | 20.0% | — | ||
| Q3 25 | 19.8% | 47.9% | ||
| Q2 25 | 21.6% | 37.3% | ||
| Q1 25 | 19.2% | 14.7% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | 22.8% | 24.8% | ||
| Q2 24 | 6.3% | 25.4% | ||
| Q1 24 | 7.6% | 19.9% |
营业利润率ADMVFF
| Q4 25 | 7.9% | — | ||
| Q3 25 | 2.3% | 23.3% | ||
| Q2 25 | 4.4% | 20.8% | ||
| Q1 25 | 5.7% | -8.0% | ||
| Q4 24 | — | -118.3% | ||
| Q3 24 | 1.8% | 3.8% | ||
| Q2 24 | 2.7% | -43.5% | ||
| Q1 24 | 4.1% | -3.0% |
净利率ADMVFF
| Q4 25 | 7.5% | 19.9% | ||
| Q3 25 | 1.7% | 15.3% | ||
| Q2 25 | 3.5% | 44.2% | ||
| Q1 25 | 4.8% | -8.7% | ||
| Q4 24 | -2.2% | -92.8% | ||
| Q3 24 | 0.3% | -1.5% | ||
| Q2 24 | 2.2% | -43.9% | ||
| Q1 24 | 3.3% | -3.7% |
每股收益（稀释后）ADMVFF
| Q4 25 | $0.95 | $0.01 | ||
| Q3 25 | $0.22 | $0.08 | ||
| Q2 25 | $0.45 | $0.24 | ||
| Q1 25 | $0.61 | $-0.06 | ||
| Q4 24 | $1.21 | $-0.07 | ||
| Q3 24 | $0.04 | $-0.01 | ||
| Q2 24 | $0.98 | $-0.21 | ||
| Q1 24 | $1.42 | $-0.03 |
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 | $81.2M |
| 总债务越低越好 | $7.6B | $33.7M |
| 股东权益账面价值 | $22.7B | $299.9M |
| 总资产 | $52.4B | $423.1M |
| 负债/权益比越低杠杆越低 | 0.33× | 0.11× |
8季度趋势，按日历期对齐
现金及短期投资ADMVFF
| Q4 25 | $1.0B | $81.2M | ||
| Q3 25 | $1.2B | $82.6M | ||
| Q2 25 | $1.1B | $60.0M | ||
| Q1 25 | $864.0M | $15.1M | ||
| Q4 24 | $611.0M | $24.6M | ||
| Q3 24 | $784.0M | $28.7M | ||
| Q2 24 | $764.0M | $29.7M | ||
| Q1 24 | $830.0M | $26.7M |
总债务ADMVFF
| Q4 25 | $7.6B | $33.7M | ||
| Q3 25 | — | $34.6M | ||
| Q2 25 | — | $39.1M | ||
| Q1 25 | — | $39.2M | ||
| Q4 24 | $8.3B | $40.6M | ||
| Q3 24 | $7.6B | $43.3M | ||
| Q2 24 | — | $44.4M | ||
| Q1 24 | — | $46.1M |
股东权益ADMVFF
| Q4 25 | $22.7B | $299.9M | ||
| Q3 25 | $22.5B | $295.4M | ||
| Q2 25 | $22.4B | $284.3M | ||
| Q1 25 | $22.1B | $248.3M | ||
| Q4 24 | $22.2B | $254.0M | ||
| Q3 24 | $22.0B | $274.4M | ||
| Q2 24 | $22.2B | $275.2M | ||
| Q1 24 | $23.2B | $296.2M |
总资产ADMVFF
| Q4 25 | $52.4B | $423.1M | ||
| Q3 25 | $51.9B | $418.4M | ||
| Q2 25 | $52.0B | $403.7M | ||
| Q1 25 | $53.4B | $377.1M | ||
| Q4 24 | $53.3B | $389.3M | ||
| Q3 24 | $52.2B | $417.8M | ||
| Q2 24 | $52.7B | $425.4M | ||
| Q1 24 | $54.8B | $458.4M |
负债/权益比ADMVFF
| Q4 25 | 0.33× | 0.11× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | 0.37× | 0.16× | ||
| Q3 24 | 0.35× | 0.16× | ||
| Q2 24 | — | 0.16× | ||
| Q1 24 | — | 0.16× |
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 | — |
| 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% | 90.8% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流ADMVFF
| Q4 25 | $-313.0M | — | ||
| Q3 25 | $1.8B | $24.4M | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $-342.0M | $-6.4M | ||
| Q4 24 | $322.0M | $412.0K | ||
| Q3 24 | $1.3B | $4.3M | ||
| Q2 24 | $468.0M | $5.7M | ||
| Q1 24 | $700.0M | $-50.0K |
自由现金流ADMVFF
| Q4 25 | $-669.0M | — | ||
| Q3 25 | $1.5B | $22.6M | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $-633.0M | $-8.9M | ||
| Q4 24 | $-170.0M | $-1.2M | ||
| Q3 24 | $919.0M | $1.5M | ||
| Q2 24 | $106.0M | $4.8M | ||
| Q1 24 | $372.0M | $-1.9M |
自由现金流率ADMVFF
| Q4 25 | -11.1% | — | ||
| Q3 25 | 23.6% | 33.9% | ||
| Q2 25 | 63.0% | — | ||
| Q1 25 | -10.3% | -11.6% | ||
| Q4 24 | 0.7% | -13.2% | ||
| Q3 24 | 15.3% | 2.7% | ||
| Q2 24 | 0.5% | 9.0% | ||
| Q1 24 | 1.7% | -2.5% |
资本支出强度ADMVFF
| Q4 25 | 5.9% | 90.8% | ||
| Q3 25 | 4.6% | 2.7% | ||
| Q2 25 | 4.8% | 4.6% | ||
| Q1 25 | 4.7% | 3.3% | ||
| Q4 24 | -1.9% | 17.7% | ||
| Q3 24 | 6.4% | 5.1% | ||
| Q2 24 | 1.6% | 1.6% | ||
| Q1 24 | 1.5% | 2.4% |
现金转化率ADMVFF
| Q4 25 | -0.69× | — | ||
| Q3 25 | 16.75× | 2.39× | ||
| Q2 25 | 19.63× | — | ||
| Q1 25 | -1.16× | — | ||
| Q4 24 | 0.57× | — | ||
| Q3 24 | 72.22× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.96× | — |
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% |
VFF
| International Sales | $8.7M | 71% |
| Cannabis United States Segment | $3.4M | 27% |
