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Arq, Inc.（ARQ）与CF Industries（CF）财务数据对比。点击上方公司名可切换其他公司
CF Industries的季度营收约是Arq, Inc.的63.6倍（$1.9B vs $29.4M）。CF Industries同比增速更快（22.8% vs 8.8%）。CF Industries自由现金流更多（$313.0M vs $-3.5M）。过去两年Arq, Inc.的营收复合增速更高（16.4% vs 12.8%）
Arq Inc是一家可持续发展技术企业，主营将煤矿开采废弃物加工为高价值低碳固体燃料及工业碳产品，服务能源、建筑、制造等领域客户，核心市场覆盖北美及欧洲主要地区，致力于帮助工业客户减少废弃物、降低碳排放。
CF Industries Holdings Inc.是美国知名农用肥料生产及分销商，1946年成立时名为中央农民肥料公司，总部位于芝加哥郊区的伊利诺伊州诺斯布鲁克。公司主营氨、尿素、硝酸铵等肥料产品，最初为区域农业供应合作社联盟，成立56年后完成股份化改制，转为公开上市企业。
ARQ vs CF — 直观对比
营收规模更大
CF
是对方的63.6倍
$29.4M
营收增速更快
CF
高出14.0%
8.8%
自由现金流更多
CF
多$316.5M
$-3.5M
两年增速更快
ARQ
近两年复合增速
12.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $29.4M | $1.9B |
| 净利润 | — | $495.0M |
| 毛利率 | 13.6% | 40.9% |
| 营业利润率 | -174.1% | 33.0% |
| 净利率 | — | 26.4% |
| 营收同比 | 8.8% | 22.8% |
| 净利润同比 | — | 26.3% |
| 每股收益（稀释后） | $-1.20 | $2.56 |
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ARQCF
| Q4 25 | $29.4M | $1.9B | ||
| Q3 25 | $35.1M | $1.7B | ||
| Q2 25 | $28.6M | $1.9B | ||
| Q1 25 | $27.2M | $1.7B | ||
| Q4 24 | $27.0M | $1.5B | ||
| Q3 24 | $34.8M | $1.4B | ||
| Q2 24 | $25.4M | $1.6B | ||
| Q1 24 | $21.7M | $1.5B |
净利润ARQCF
| Q4 25 | — | $495.0M | ||
| Q3 25 | $-653.0K | $460.0M | ||
| Q2 25 | $-2.1M | $492.0M | ||
| Q1 25 | $203.0K | $351.0M | ||
| Q4 24 | — | $392.0M | ||
| Q3 24 | $1.6M | $341.0M | ||
| Q2 24 | $-2.0M | $506.0M | ||
| Q1 24 | $-3.4M | $238.0M |
毛利率ARQCF
| Q4 25 | 13.6% | 40.9% | ||
| Q3 25 | 28.8% | 38.1% | ||
| Q2 25 | 33.3% | 39.9% | ||
| Q1 25 | 36.4% | 34.4% | ||
| Q4 24 | 36.3% | 34.4% | ||
| Q3 24 | 38.6% | 32.4% | ||
| Q2 24 | 32.2% | 43.2% | ||
| Q1 24 | 36.9% | 27.8% |
营业利润率ARQCF
| Q4 25 | -174.1% | 33.0% | ||
| Q3 25 | -2.4% | 35.0% | ||
| Q2 25 | -5.4% | 34.3% | ||
| Q1 25 | 2.4% | 27.4% | ||
| Q4 24 | 1.5% | 28.9% | ||
| Q3 24 | 5.8% | 26.6% | ||
| Q2 24 | -5.6% | 40.6% | ||
| Q1 24 | -13.7% | 20.6% |
净利率ARQCF
| Q4 25 | — | 26.4% | ||
| Q3 25 | -1.9% | 27.7% | ||
| Q2 25 | -7.5% | 26.0% | ||
| Q1 25 | 0.7% | 21.1% | ||
| Q4 24 | — | 25.7% | ||
| Q3 24 | 4.7% | 24.9% | ||
| Q2 24 | -7.7% | 32.2% | ||
| Q1 24 | -15.7% | 16.2% |
每股收益（稀释后）ARQCF
| Q4 25 | $-1.20 | $2.56 | ||
| Q3 25 | $-0.02 | $2.19 | ||
| Q2 25 | $-0.05 | $2.37 | ||
| Q1 25 | $0.00 | $1.85 | ||
| Q4 24 | $-0.03 | $1.86 | ||
| Q3 24 | $0.04 | $1.55 | ||
| Q2 24 | $-0.06 | $2.30 | ||
| Q1 24 | $-0.09 | $1.03 |
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 | $6.6M | — |
| 总债务越低越好 | $28.7M | $3.2B |
| 股东权益账面价值 | $168.0M | $4.8B |
| 总资产 | $230.6M | $14.1B |
| 负债/权益比越低杠杆越低 | 0.17× | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资ARQCF
| Q4 25 | $6.6M | — | ||
| Q3 25 | $7.0M | — | ||
| Q2 25 | $7.0M | — | ||
| Q1 25 | $6.3M | — | ||
| Q4 24 | $13.5M | — | ||
| Q3 24 | $48.7M | — | ||
| Q2 24 | $28.5M | — | ||
| Q1 24 | $35.2M | — |
总债务ARQCF
| Q4 25 | $28.7M | $3.2B | ||
| Q3 25 | $26.1M | $3.0B | ||
| Q2 25 | $28.9M | $3.0B | ||
| Q1 25 | $27.1M | $3.0B | ||
| Q4 24 | $25.1M | $3.0B | ||
| Q3 24 | $21.6M | $3.0B | ||
| Q2 24 | $22.2M | $3.0B | ||
| Q1 24 | $22.6M | $3.0B |
股东权益ARQCF
| Q4 25 | $168.0M | $4.8B | ||
| Q3 25 | $217.2M | $4.8B | ||
| Q2 25 | $216.8M | $5.0B | ||
| Q1 25 | $218.2M | $4.8B | ||
| Q4 24 | $217.3M | $5.0B | ||
| Q3 24 | $218.1M | $5.2B | ||
| Q2 24 | $189.6M | $5.5B | ||
| Q1 24 | $175.2M | $5.4B |
总资产ARQCF
| Q4 25 | $230.6M | $14.1B | ||
| Q3 25 | $277.9M | $14.2B | ||
| Q2 25 | $284.5M | $13.8B | ||
| Q1 25 | $283.7M | $13.3B | ||
| Q4 24 | $284.4M | $13.5B | ||
| Q3 24 | $280.0M | $13.8B | ||
| Q2 24 | $248.6M | $13.8B | ||
| Q1 24 | $229.8M | $13.9B |
负债/权益比ARQCF
| Q4 25 | 0.17× | 0.66× | ||
| Q3 25 | 0.12× | 0.61× | ||
| Q2 25 | 0.13× | 0.60× | ||
| Q1 25 | 0.12× | 0.62× | ||
| Q4 24 | 0.12× | 0.60× | ||
| Q3 24 | 0.10× | 0.57× | ||
| Q2 24 | 0.12× | 0.54× | ||
| Q1 24 | 0.13× | 0.55× |
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 | $-2.8M | $539.0M |
| 自由现金流经营现金流 - 资本支出 | $-3.5M | $313.0M |
| 自由现金流率自由现金流/营收 | -12.0% | 16.7% |
| 资本支出强度资本支出/营收 | 2.7% | 12.1% |
| 现金转化率经营现金流/净利润 | — | 1.09× |
| 过去12个月自由现金流最近4个季度 | $-11.3M | $1.8B |
8季度趋势，按日历期对齐
经营现金流ARQCF
| Q4 25 | $-2.8M | $539.0M | ||
| Q3 25 | $5.3M | $1.1B | ||
| Q2 25 | $527.0K | $563.0M | ||
| Q1 25 | $-5.8M | $586.0M | ||
| Q4 24 | $5.2M | $420.0M | ||
| Q3 24 | $7.7M | $931.0M | ||
| Q2 24 | $-3.0M | $475.0M | ||
| Q1 24 | $526.0K | $445.0M |
自由现金流ARQCF
| Q4 25 | $-3.5M | $313.0M | ||
| Q3 25 | $3.1M | $717.0M | ||
| Q2 25 | $-1.4M | $318.0M | ||
| Q1 25 | $-9.5M | $454.0M | ||
| Q4 24 | $-37.8M | $223.0M | ||
| Q3 24 | $-5.8M | $792.0M | ||
| Q2 24 | $-22.1M | $391.0M | ||
| Q1 24 | $-9.1M | $347.0M |
自由现金流率ARQCF
| Q4 25 | -12.0% | 16.7% | ||
| Q3 25 | 8.8% | 43.2% | ||
| Q2 25 | -4.7% | 16.8% | ||
| Q1 25 | -34.9% | 27.3% | ||
| Q4 24 | -139.6% | 14.6% | ||
| Q3 24 | -16.5% | 57.8% | ||
| Q2 24 | -87.1% | 24.9% | ||
| Q1 24 | -41.7% | 23.6% |
资本支出强度ARQCF
| Q4 25 | 2.7% | 12.1% | ||
| Q3 25 | 6.3% | 20.9% | ||
| Q2 25 | 6.6% | 13.0% | ||
| Q1 25 | 13.6% | 7.9% | ||
| Q4 24 | 158.9% | 12.9% | ||
| Q3 24 | 38.7% | 10.1% | ||
| Q2 24 | 75.5% | 5.3% | ||
| Q1 24 | 44.1% | 6.7% |
现金转化率ARQCF
| Q4 25 | — | 1.09× | ||
| Q3 25 | — | 2.31× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | -28.59× | 1.67× | ||
| Q4 24 | — | 1.07× | ||
| Q3 24 | 4.76× | 2.73× | ||
| Q2 24 | — | 0.94× | ||
| Q1 24 | — | 1.87× |
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
ARQ
暂无分部数据
CF
| Ammonia | $591.0M | 32% |
| UAN | $493.0M | 26% |
| Urea | $372.0M | 20% |
| Other | $244.0M | 13% |
| Other Products | $147.0M | 8% |
| Ammonium Nitrate Segment | $25.0M | 1% |
