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百通（BDC）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的季度营收约是百通的2.6倍（$1.9B vs $720.1M）。CF Industries净利率更高（26.4% vs 9.4%，领先17.0%）。CF Industries同比增速更快（22.8% vs 8.1%）。CF Industries自由现金流更多（$313.0M vs $121.3M）。过去两年百通的营收复合增速更高（15.9% vs 12.8%）
百通公司是美国上市跨国企业，专注于端到端网络、安全及连接产品的设计、生产与销售，业务覆盖工业自动化解决方案、智能建筑、宽带及5G三大核心领域，为各行业客户提供可靠的通信连接相关产品与服务。
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。
BDC vs CF — 直观对比
营收规模更大
CF
是对方的2.6倍
$720.1M
营收增速更快
CF
高出14.7%
8.1%
净利率更高
CF
高出17.0%
9.4%
自由现金流更多
CF
多$191.8M
$121.3M
两年增速更快
BDC
近两年复合增速
12.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $720.1M | $1.9B |
| 净利润 | $67.9M | $495.0M |
| 毛利率 | 36.6% | 40.9% |
| 营业利润率 | 12.2% | 33.0% |
| 净利率 | 9.4% | 26.4% |
| 营收同比 | 8.1% | 22.8% |
| 净利润同比 | 16.3% | 26.3% |
| 每股收益（稀释后） | $1.70 | $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BDCCF
| Q4 25 | $720.1M | $1.9B | ||
| Q3 25 | $698.2M | $1.7B | ||
| Q2 25 | $672.0M | $1.9B | ||
| Q1 25 | $624.9M | $1.7B | ||
| Q4 24 | $666.0M | $1.5B | ||
| Q3 24 | $654.9M | $1.4B | ||
| Q2 24 | $604.3M | $1.6B | ||
| Q1 24 | $535.7M | $1.5B |
净利润BDCCF
| Q4 25 | $67.9M | $495.0M | ||
| Q3 25 | $56.7M | $460.0M | ||
| Q2 25 | $61.0M | $492.0M | ||
| Q1 25 | $51.9M | $351.0M | ||
| Q4 24 | $58.4M | $392.0M | ||
| Q3 24 | $53.7M | $341.0M | ||
| Q2 24 | $49.0M | $506.0M | ||
| Q1 24 | $37.3M | $238.0M |
毛利率BDCCF
| Q4 25 | 36.6% | 40.9% | ||
| Q3 25 | 37.7% | 38.1% | ||
| Q2 25 | 38.5% | 39.9% | ||
| Q1 25 | 39.3% | 34.4% | ||
| Q4 24 | 37.5% | 34.4% | ||
| Q3 24 | 37.3% | 32.4% | ||
| Q2 24 | 37.5% | 43.2% | ||
| Q1 24 | 37.6% | 27.8% |
营业利润率BDCCF
| Q4 25 | 12.2% | 33.0% | ||
| Q3 25 | 10.9% | 35.0% | ||
| Q2 25 | 11.8% | 34.3% | ||
| Q1 25 | 11.6% | 27.4% | ||
| Q4 24 | 10.4% | 28.9% | ||
| Q3 24 | 11.5% | 26.6% | ||
| Q2 24 | 11.4% | 40.6% | ||
| Q1 24 | 9.9% | 20.6% |
净利率BDCCF
| Q4 25 | 9.4% | 26.4% | ||
| Q3 25 | 8.1% | 27.7% | ||
| Q2 25 | 9.1% | 26.0% | ||
| Q1 25 | 8.3% | 21.1% | ||
| Q4 24 | 8.8% | 25.7% | ||
| Q3 24 | 8.2% | 24.9% | ||
| Q2 24 | 8.1% | 32.2% | ||
| Q1 24 | 7.0% | 16.2% |
每股收益（稀释后）BDCCF
| Q4 25 | $1.70 | $2.56 | ||
| Q3 25 | $1.41 | $2.19 | ||
| Q2 25 | $1.53 | $2.37 | ||
| Q1 25 | $1.27 | $1.85 | ||
| Q4 24 | $1.41 | $1.86 | ||
| Q3 24 | $1.30 | $1.55 | ||
| Q2 24 | $1.19 | $2.30 | ||
| Q1 24 | $0.90 | $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 | $389.9M | — |
| 总债务越低越好 | — | $3.2B |
| 股东权益账面价值 | $1.3B | $4.8B |
| 总资产 | $3.5B | $14.1B |
| 负债/权益比越低杠杆越低 | — | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资BDCCF
| Q4 25 | $389.9M | — | ||
| Q3 25 | $314.3M | — | ||
| Q2 25 | $301.5M | — | ||
| Q1 25 | $259.0M | — | ||
| Q4 24 | $370.3M | — | ||
| Q3 24 | $323.0M | — | ||
| Q2 24 | $564.8M | — | ||
| Q1 24 | $506.8M | — |
总债务BDCCF
| Q4 25 | — | $3.2B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
股东权益BDCCF
| Q4 25 | $1.3B | $4.8B | ||
| Q3 25 | $1.2B | $4.8B | ||
| Q2 25 | $1.2B | $5.0B | ||
| Q1 25 | $1.2B | $4.8B | ||
| Q4 24 | $1.3B | $5.0B | ||
| Q3 24 | $1.2B | $5.2B | ||
| Q2 24 | $1.2B | $5.5B | ||
| Q1 24 | $1.2B | $5.4B |
总资产BDCCF
| Q4 25 | $3.5B | $14.1B | ||
| Q3 25 | $3.4B | $14.2B | ||
| Q2 25 | $3.4B | $13.8B | ||
| Q1 25 | $3.3B | $13.3B | ||
| Q4 24 | $3.3B | $13.5B | ||
| Q3 24 | $3.3B | $13.8B | ||
| Q2 24 | $3.5B | $13.8B | ||
| Q1 24 | $3.1B | $13.9B |
负债/权益比BDCCF
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | — | 0.54× | ||
| Q1 24 | — | 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 | $160.4M | $539.0M |
| 自由现金流经营现金流 - 资本支出 | $121.3M | $313.0M |
| 自由现金流率自由现金流/营收 | 16.8% | 16.7% |
| 资本支出强度资本支出/营收 | 5.4% | 12.1% |
| 现金转化率经营现金流/净利润 | 2.36× | 1.09× |
| 过去12个月自由现金流最近4个季度 | $218.7M | $1.8B |
8季度趋势，按日历期对齐
经营现金流BDCCF
| Q4 25 | $160.4M | $539.0M | ||
| Q3 25 | $105.0M | $1.1B | ||
| Q2 25 | $82.0M | $563.0M | ||
| Q1 25 | $7.4M | $586.0M | ||
| Q4 24 | $174.7M | $420.0M | ||
| Q3 24 | $91.7M | $931.0M | ||
| Q2 24 | $83.0M | $475.0M | ||
| Q1 24 | $2.7M | $445.0M |
自由现金流BDCCF
| Q4 25 | $121.3M | $313.0M | ||
| Q3 25 | $65.3M | $717.0M | ||
| Q2 25 | $56.9M | $318.0M | ||
| Q1 25 | $-24.8M | $454.0M | ||
| Q4 24 | $116.4M | $223.0M | ||
| Q3 24 | $67.2M | $792.0M | ||
| Q2 24 | $61.0M | $391.0M | ||
| Q1 24 | $-21.5M | $347.0M |
自由现金流率BDCCF
| Q4 25 | 16.8% | 16.7% | ||
| Q3 25 | 9.4% | 43.2% | ||
| Q2 25 | 8.5% | 16.8% | ||
| Q1 25 | -4.0% | 27.3% | ||
| Q4 24 | 17.5% | 14.6% | ||
| Q3 24 | 10.3% | 57.8% | ||
| Q2 24 | 10.1% | 24.9% | ||
| Q1 24 | -4.0% | 23.6% |
资本支出强度BDCCF
| Q4 25 | 5.4% | 12.1% | ||
| Q3 25 | 5.7% | 20.9% | ||
| Q2 25 | 3.7% | 13.0% | ||
| Q1 25 | 5.2% | 7.9% | ||
| Q4 24 | 8.8% | 12.9% | ||
| Q3 24 | 3.7% | 10.1% | ||
| Q2 24 | 3.6% | 5.3% | ||
| Q1 24 | 4.5% | 6.7% |
现金转化率BDCCF
| Q4 25 | 2.36× | 1.09× | ||
| Q3 25 | 1.85× | 2.31× | ||
| Q2 25 | 1.34× | 1.14× | ||
| Q1 25 | 0.14× | 1.67× | ||
| Q4 24 | 2.99× | 1.07× | ||
| Q3 24 | 1.71× | 2.73× | ||
| Q2 24 | 1.69× | 0.94× | ||
| Q1 24 | 0.07× | 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
BDC
| Automation Solutions Segment | $397.7M | 55% |
| Broadband Solutions | $164.8M | 23% |
| Smart Buildings Solutions | $157.7M | 22% |
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% |
