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爱科（AGCO）与芝商所（CME）财务数据对比。点击上方公司名可切换其他公司
爱科的季度营收约是芝商所的1.6倍（$2.9B vs $1.9B），爱科净利率更高（3.3% vs 0.1%，领先3.2%），芝商所同比增速更快（14.5% vs 1.1%），过去两年芝商所的营收复合增速更高（10.8% vs -0.1%）
AGCO是1990年成立的美国农业机械制造商，总部位于佐治亚州德卢斯。公司主营设计、生产及销售拖拉机、联合收割机、青贮收获机、牧草设备、自走式喷雾机、播种耕作设备等产品，同时提供智慧农业相关技术解决方案。
芝商所是总部位于美国伊利诺伊州芝加哥的金融服务企业，为全球规模最大的金融衍生品交易所运营商，旗下拥有芝加哥商品交易所、芝加哥期货交易所、纽约商业交易所、纽约商品交易所等交易平台，覆盖农产品、货币、能源等品类交易，同时持有标普道琼斯指数27%的股权。
AGCO vs CME — 直观对比
营收规模更大
AGCO
是对方的1.6倍
$1.9B
营收增速更快
CME
高出13.3%
1.1%
净利率更高
AGCO
高出3.2%
0.1%
两年增速更快
CME
近两年复合增速
-0.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $1.9B |
| 净利润 | $95.5M | $1.2M |
| 毛利率 | 25.4% | — |
| 营业利润率 | 7.9% | 0.1% |
| 净利率 | 3.3% | 0.1% |
| 营收同比 | 1.1% | 14.5% |
| 净利润同比 | 137.3% | 20.7% |
| 每股收益（稀释后） | $1.30 | — |
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AGCOCME
| Q1 26 | — | $1.9B | ||
| Q4 25 | $2.9B | $1.6B | ||
| Q3 25 | $2.5B | $1.5B | ||
| Q2 25 | $2.6B | $1.7B | ||
| Q1 25 | $2.1B | $1.6B | ||
| Q4 24 | $2.9B | $1.5B | ||
| Q3 24 | $2.6B | $1.6B | ||
| Q2 24 | $3.2B | $1.5B |
净利润AGCOCME
| Q1 26 | — | $1.2M | ||
| Q4 25 | $95.5M | $1.2B | ||
| Q3 25 | $305.7M | $908.0M | ||
| Q2 25 | $314.8M | $1.0B | ||
| Q1 25 | $10.5M | $956.2M | ||
| Q4 24 | $-255.7M | $874.6M | ||
| Q3 24 | $30.0M | $912.8M | ||
| Q2 24 | $-367.1M | $883.2M |
毛利率AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | 25.4% | — | ||
| Q3 25 | 26.1% | — | ||
| Q2 25 | 25.0% | — | ||
| Q1 25 | 25.4% | — | ||
| Q4 24 | 23.9% | — | ||
| Q3 24 | 23.2% | — | ||
| Q2 24 | 25.8% | — |
营业利润率AGCOCME
| Q1 26 | — | 0.1% | ||
| Q4 25 | 7.9% | 61.8% | ||
| Q3 25 | 6.1% | 63.3% | ||
| Q2 25 | 6.2% | 66.7% | ||
| Q1 25 | 2.4% | 67.5% | ||
| Q4 24 | -9.3% | 62.1% | ||
| Q3 24 | 4.4% | 64.6% | ||
| Q2 24 | -7.4% | 65.3% |
净利率AGCOCME
| Q1 26 | — | 0.1% | ||
| Q4 25 | 3.3% | 71.7% | ||
| Q3 25 | 12.3% | 59.1% | ||
| Q2 25 | 11.9% | 60.6% | ||
| Q1 25 | 0.5% | 58.2% | ||
| Q4 24 | -8.9% | 57.3% | ||
| Q3 24 | 1.2% | 57.6% | ||
| Q2 24 | -11.3% | 57.6% |
每股收益（稀释后）AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | $1.30 | $3.24 | ||
| Q3 25 | $4.09 | $2.49 | ||
| Q2 25 | $4.22 | $2.81 | ||
| Q1 25 | $0.14 | $2.62 | ||
| Q4 24 | $-3.42 | $2.40 | ||
| Q3 24 | $0.40 | $2.50 | ||
| Q2 24 | $-4.92 | $2.42 |
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 | $861.8M | $2.4B |
| 总债务越低越好 | $2.4B | $3.4B |
| 股东权益账面价值 | $4.3B | — |
| 总资产 | $11.9B | $202.0B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资AGCOCME
| Q1 26 | — | $2.4B | ||
| Q4 25 | $861.8M | $4.5B | ||
| Q3 25 | $884.1M | $2.6B | ||
| Q2 25 | $783.9M | $2.1B | ||
| Q1 25 | $562.6M | $1.5B | ||
| Q4 24 | $612.7M | $3.0B | ||
| Q3 24 | $622.6M | $2.4B | ||
| Q2 24 | $657.3M | $1.9B |
总债务AGCOCME
| Q1 26 | — | $3.4B | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $3.9B | — |
股东权益AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $28.7B | ||
| Q3 25 | $4.5B | $28.2B | ||
| Q2 25 | $4.2B | $27.7B | ||
| Q1 25 | $3.8B | $27.0B | ||
| Q4 24 | $3.7B | $26.5B | ||
| Q3 24 | $4.1B | $28.2B | ||
| Q2 24 | $4.1B | $27.6B |
总资产AGCOCME
| Q1 26 | — | $202.0B | ||
| Q4 25 | $11.9B | $198.4B | ||
| Q3 25 | $12.5B | $187.1B | ||
| Q2 25 | $12.3B | $179.9B | ||
| Q1 25 | $11.5B | $157.8B | ||
| Q4 24 | $11.2B | $137.4B | ||
| Q3 24 | $13.5B | $137.8B | ||
| Q2 24 | $13.6B | $123.4B |
负债/权益比AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | 0.95× | — |
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 | $763.6M | — |
| 自由现金流经营现金流 - 资本支出 | $675.0M | — |
| 自由现金流率自由现金流/营收 | 23.1% | — |
| 资本支出强度资本支出/营收 | 3.0% | — |
| 现金转化率经营现金流/净利润 | 8.00× | — |
| 过去12个月自由现金流最近4个季度 | $740.2M | — |
8季度趋势，按日历期对齐
经营现金流AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | $763.6M | $1.1B | ||
| Q3 25 | $71.0M | $968.1M | ||
| Q2 25 | $365.7M | $1.1B | ||
| Q1 25 | $-212.2M | $1.1B | ||
| Q4 24 | $797.9M | $1.0B | ||
| Q3 24 | $26.5M | $1.0B | ||
| Q2 24 | $235.5M | $776.9M |
自由现金流AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | $675.0M | $1.1B | ||
| Q3 25 | $2.1M | $949.7M | ||
| Q2 25 | $323.5M | $1.0B | ||
| Q1 25 | $-260.4M | $1.1B | ||
| Q4 24 | $683.9M | $991.7M | ||
| Q3 24 | $-59.8M | $973.2M | ||
| Q2 24 | $137.5M | $758.7M |
自由现金流率AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | 23.1% | 66.8% | ||
| Q3 25 | 0.1% | 61.8% | ||
| Q2 25 | 12.3% | 61.5% | ||
| Q1 25 | -12.7% | 67.1% | ||
| Q4 24 | 23.7% | 65.0% | ||
| Q3 24 | -2.3% | 61.4% | ||
| Q2 24 | 4.2% | 49.5% |
资本支出强度AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 2.0% | ||
| Q3 25 | 2.8% | 1.2% | ||
| Q2 25 | 1.6% | 1.1% | ||
| Q1 25 | 2.4% | 0.9% | ||
| Q4 24 | 3.9% | 1.7% | ||
| Q3 24 | 3.3% | 1.9% | ||
| Q2 24 | 3.0% | 1.2% |
现金转化率AGCOCME
| Q1 26 | — | — | ||
| Q4 25 | 8.00× | 0.96× | ||
| Q3 25 | 0.23× | 1.07× | ||
| Q2 25 | 1.16× | 1.03× | ||
| Q1 25 | -20.21× | 1.17× | ||
| Q4 24 | — | 1.16× | ||
| Q3 24 | 0.88× | 1.10× | ||
| Q2 24 | — | 0.88× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
