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Amentum Holdings, Inc.（AMTM）与COMMERCIAL METALS Co（CMC）财务数据对比。点击上方公司名可切换其他公司
Amentum Holdings, Inc.的季度营收约是COMMERCIAL METALS Co的1.5倍（$3.2B vs $2.1B），COMMERCIAL METALS Co净利率更高（8.4% vs 1.4%，领先7.0%），COMMERCIAL METALS Co同比增速更快（11.0% vs -5.2%），COMMERCIAL METALS Co自由现金流更多（$78.8M vs $-142.0M），过去两年Amentum Holdings, Inc.的营收复合增速更高（25.6% vs 7.1%）
本公司是总部位于美国达拉斯的跨国技术专业服务企业，面向全球企业、机构及政府部门客户提供工程、技术、建设服务以及科学与专项咨询服务，连续6年蝉联《工程新闻纪录》（ENR）全球顶尖设计企业500强榜首。
商业金属公司（CMC）总部位于美国得克萨斯州欧文市，主营钢筋及相关建筑材料，与纽柯公司同为美国房屋、桥梁、道路等基础设施领域混凝土加固用钢材的两大核心供应商，旗下还拥有地基系统生产商Tensar，产品可用于道路、公共基建及工业设施建设。
AMTM vs CMC — 直观对比
营收规模更大
AMTM
是对方的1.5倍
$2.1B
营收增速更快
CMC
高出16.3%
-5.2%
净利率更高
CMC
高出7.0%
1.4%
自由现金流更多
CMC
多$220.8M
$-142.0M
两年增速更快
AMTM
近两年复合增速
7.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $2.1B |
| 净利润 | $44.0M | $177.3M |
| 毛利率 | 10.1% | 19.2% |
| 营业利润率 | 4.3% | 8.6% |
| 净利率 | 1.4% | 8.4% |
| 营收同比 | -5.2% | 11.0% |
| 净利润同比 | 266.7% | 200.9% |
| 每股收益（稀释后） | $0.18 | $1.58 |
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AMTMCMC
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.9B | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | $3.6B | $2.0B | ||
| Q1 25 | $3.5B | $1.8B | ||
| Q4 24 | $3.4B | $1.9B | ||
| Q3 24 | $2.2B | $2.0B | ||
| Q2 24 | $2.1B | $2.1B |
净利润AMTMCMC
| Q1 26 | $44.0M | — | ||
| Q4 25 | $40.0M | $177.3M | ||
| Q3 25 | — | $151.8M | ||
| Q2 25 | $10.0M | $83.1M | ||
| Q1 25 | $4.0M | $25.5M | ||
| Q4 24 | $12.0M | $-175.7M | ||
| Q3 24 | $26.0M | $103.9M | ||
| Q2 24 | $-26.0M | $119.4M |
毛利率AMTMCMC
| Q1 26 | 10.1% | — | ||
| Q4 25 | 10.6% | 19.2% | ||
| Q3 25 | — | 18.6% | ||
| Q2 25 | 10.3% | 14.8% | ||
| Q1 25 | 10.5% | 12.5% | ||
| Q4 24 | 10.6% | 16.1% | ||
| Q3 24 | 9.0% | 16.2% | ||
| Q2 24 | 9.6% | 16.4% |
营业利润率AMTMCMC
| Q1 26 | 4.3% | — | ||
| Q4 25 | 3.4% | 8.6% | ||
| Q3 25 | — | 9.1% | ||
| Q2 25 | 2.9% | 5.4% | ||
| Q1 25 | 3.2% | 2.1% | ||
| Q4 24 | 3.9% | -12.1% | ||
| Q3 24 | 1.2% | 6.7% | ||
| Q2 24 | 4.2% | 7.7% |
净利率AMTMCMC
| Q1 26 | 1.4% | — | ||
| Q4 25 | 1.0% | 8.4% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | 0.3% | 4.1% | ||
| Q1 25 | 0.1% | 1.5% | ||
| Q4 24 | 0.4% | -9.2% | ||
| Q3 24 | 1.2% | 5.2% | ||
| Q2 24 | -1.2% | 5.7% |
每股收益（稀释后）AMTMCMC
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.16 | $1.58 | ||
| Q3 25 | — | $1.33 | ||
| Q2 25 | $0.04 | $0.73 | ||
| Q1 25 | $0.02 | $0.22 | ||
| Q4 24 | $0.05 | $-1.54 | ||
| Q3 24 | $0.31 | $0.90 | ||
| Q2 24 | $-0.29 | $1.02 |
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 | $247.0M | $1.0B |
| 总债务越低越好 | $3.9B | $3.3B |
| 股东权益账面价值 | $4.6B | $4.3B |
| 总资产 | $11.2B | $9.2B |
| 负债/权益比越低杠杆越低 | 0.86× | 0.77× |
8季度趋势，按日历期对齐
现金及短期投资AMTMCMC
| Q1 26 | $247.0M | — | ||
| Q4 25 | $437.0M | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | $738.0M | $893.0M | ||
| Q1 25 | $546.0M | $758.4M | ||
| Q4 24 | $522.0M | $856.1M | ||
| Q3 24 | $452.0M | $857.9M | ||
| Q2 24 | — | $698.3M |
总债务AMTMCMC
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.9B | $3.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $4.5B | $1.3B | ||
| Q1 25 | $4.7B | $1.2B | ||
| Q4 24 | $4.7B | $1.1B | ||
| Q3 24 | $4.7B | $1.2B | ||
| Q2 24 | — | $1.1B |
股东权益AMTMCMC
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.5B | $4.3B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | $4.5B | $4.1B | ||
| Q1 25 | $4.4B | $4.0B | ||
| Q4 24 | $4.5B | $4.0B | ||
| Q3 24 | $4.5B | $4.3B | ||
| Q2 24 | $303.0M | $4.3B |
总资产AMTMCMC
| Q1 26 | $11.2B | — | ||
| Q4 25 | $11.5B | $9.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | $11.8B | $7.0B | ||
| Q1 25 | $12.0B | $6.7B | ||
| Q4 24 | $11.9B | $6.8B | ||
| Q3 24 | $12.0B | $6.8B | ||
| Q2 24 | — | $6.7B |
负债/权益比AMTMCMC
| Q1 26 | 0.86× | — | ||
| Q4 25 | 0.88× | 0.77× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | 1.01× | 0.32× | ||
| Q1 25 | 1.06× | 0.29× | ||
| Q4 24 | 1.05× | 0.29× | ||
| Q3 24 | 1.05× | 0.27× | ||
| Q2 24 | — | 0.27× |
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 | $-136.0M | $204.2M |
| 自由现金流经营现金流 - 资本支出 | $-142.0M | $78.8M |
| 自由现金流率自由现金流/营收 | -4.4% | 3.7% |
| 资本支出强度资本支出/营收 | 0.2% | 5.9% |
| 现金转化率经营现金流/净利润 | -3.09× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $272.0M | $296.2M |
8季度趋势，按日历期对齐
经营现金流AMTMCMC
| Q1 26 | $-136.0M | — | ||
| Q4 25 | $270.0M | $204.2M | ||
| Q3 25 | — | $315.2M | ||
| Q2 25 | $106.0M | $154.4M | ||
| Q1 25 | $57.0M | $32.4M | ||
| Q4 24 | $110.0M | $213.0M | ||
| Q3 24 | — | $351.8M | ||
| Q2 24 | — | $197.9M |
自由现金流AMTMCMC
| Q1 26 | $-142.0M | — | ||
| Q4 25 | $261.0M | $78.8M | ||
| Q3 25 | — | $206.3M | ||
| Q2 25 | $100.0M | $65.0M | ||
| Q1 25 | $53.0M | $-53.8M | ||
| Q4 24 | $102.0M | $94.8M | ||
| Q3 24 | — | $270.3M | ||
| Q2 24 | — | $115.8M |
自由现金流率AMTMCMC
| Q1 26 | -4.4% | — | ||
| Q4 25 | 6.6% | 3.7% | ||
| Q3 25 | — | 9.8% | ||
| Q2 25 | 2.8% | 3.2% | ||
| Q1 25 | 1.5% | -3.1% | ||
| Q4 24 | 3.0% | 5.0% | ||
| Q3 24 | — | 13.5% | ||
| Q2 24 | — | 5.6% |
资本支出强度AMTMCMC
| Q1 26 | 0.2% | — | ||
| Q4 25 | 0.2% | 5.9% | ||
| Q3 25 | — | 5.2% | ||
| Q2 25 | 0.2% | 4.4% | ||
| Q1 25 | 0.1% | 4.9% | ||
| Q4 24 | 0.2% | 6.2% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | 3.9% |
现金转化率AMTMCMC
| Q1 26 | -3.09× | — | ||
| Q4 25 | 6.75× | 1.15× | ||
| Q3 25 | — | 2.08× | ||
| Q2 25 | 10.60× | 1.86× | ||
| Q1 25 | 14.25× | 1.27× | ||
| Q4 24 | 9.17× | — | ||
| Q3 24 | — | 3.39× | ||
| Q2 24 | — | 1.66× |
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
AMTM
| Global Engineering Solutions Segment | $1.9B | 59% |
| Other U.S.Government Agencies | $400.0M | 12% |
| Fixed Price Contract | $380.0M | 12% |
| Commercial And International | $226.0M | 7% |
| Time And Materials Contract | $171.0M | 5% |
| Sales Channel Through Intermediary | $78.0M | 2% |
| Equity Method Investee | $50.0M | 2% |
CMC
| Steel Products | $670.8M | 32% |
| Downstream Products | $505.3M | 24% |
| Construction Solutions Group | $314.4M | 15% |
| Europe Steel Group | $200.0M | 9% |
| Precast Products | $141.6M | 7% |
| Construction Products | $78.4M | 4% |
| Foley Products Company LLC | $75.1M | 4% |
| Concrete Pipe And Precast LLC | $69.4M | 3% |
| Ground Stabilization Products | $49.9M | 2% |
