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TopBuild Corp（BLD）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TopBuild Corp的1.3倍（$1.9B vs $1.5B），CF Industries净利率更高（26.4% vs 7.0%，领先19.4%），CF Industries同比增速更快（22.8% vs 13.2%），CF Industries自由现金流更多（$313.0M vs $159.4M），过去两年CF Industries的营收复合增速更高（12.8% vs 7.8%）
HashiCorp是总部位于美国加利福尼亚州旧金山的软件企业，2012年由米切尔·桥本与阿蒙·达德加创立，采用免费增值商业模式，为开发、运维及安全从业人员提供云基础设施配置、防护、运行与连接相关的工具及产品。
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。
BLD vs CF — 直观对比
营收规模更大
CF
是对方的1.3倍
$1.5B
营收增速更快
CF
高出9.6%
13.2%
净利率更高
CF
高出19.4%
7.0%
自由现金流更多
CF
多$153.6M
$159.4M
两年增速更快
CF
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.9B |
| 净利润 | $104.5M | $495.0M |
| 毛利率 | 27.2% | 40.9% |
| 营业利润率 | 12.1% | 33.0% |
| 净利率 | 7.0% | 26.4% |
| 营收同比 | 13.2% | 22.8% |
| 净利润同比 | -30.6% | 26.3% |
| 每股收益（稀释后） | $3.69 | $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BLDCF
| Q4 25 | $1.5B | $1.9B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.3B | $1.9B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | $1.3B | $1.5B |
净利润BLDCF
| Q4 25 | $104.5M | $495.0M | ||
| Q3 25 | $142.2M | $460.0M | ||
| Q2 25 | $151.6M | $492.0M | ||
| Q1 25 | $123.4M | $351.0M | ||
| Q4 24 | $150.5M | $392.0M | ||
| Q3 24 | $169.0M | $341.0M | ||
| Q2 24 | $150.7M | $506.0M | ||
| Q1 24 | $152.4M | $238.0M |
毛利率BLDCF
| Q4 25 | 27.2% | 40.9% | ||
| Q3 25 | 30.1% | 38.1% | ||
| Q2 25 | 30.4% | 39.9% | ||
| Q1 25 | 28.5% | 34.4% | ||
| Q4 24 | 29.9% | 34.4% | ||
| Q3 24 | 30.7% | 32.4% | ||
| Q2 24 | 31.0% | 43.2% | ||
| Q1 24 | 30.3% | 27.8% |
营业利润率BLDCF
| Q4 25 | 12.1% | 33.0% | ||
| Q3 25 | 15.4% | 35.0% | ||
| Q2 25 | 16.9% | 34.3% | ||
| Q1 25 | 14.4% | 27.4% | ||
| Q4 24 | 16.6% | 28.9% | ||
| Q3 24 | 17.8% | 26.6% | ||
| Q2 24 | 15.4% | 40.6% | ||
| Q1 24 | 16.8% | 20.6% |
净利率BLDCF
| Q4 25 | 7.0% | 26.4% | ||
| Q3 25 | 10.2% | 27.7% | ||
| Q2 25 | 11.7% | 26.0% | ||
| Q1 25 | 10.0% | 21.1% | ||
| Q4 24 | 11.5% | 25.7% | ||
| Q3 24 | 12.3% | 24.9% | ||
| Q2 24 | 11.0% | 32.2% | ||
| Q1 24 | 11.9% | 16.2% |
每股收益（稀释后）BLDCF
| Q4 25 | $3.69 | $2.56 | ||
| Q3 25 | $5.04 | $2.19 | ||
| Q2 25 | $5.32 | $2.37 | ||
| Q1 25 | $4.23 | $1.85 | ||
| Q4 24 | $5.07 | $1.86 | ||
| Q3 24 | $5.65 | $1.55 | ||
| Q2 24 | $4.78 | $2.30 | ||
| Q1 24 | $4.79 | $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 | $184.7M | — |
| 总债务越低越好 | $2.8B | $3.2B |
| 股东权益账面价值 | $2.3B | $4.8B |
| 总资产 | $6.6B | $14.1B |
| 负债/权益比越低杠杆越低 | 1.23× | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资BLDCF
| Q4 25 | $184.7M | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $842.5M | — | ||
| Q1 25 | $308.8M | — | ||
| Q4 24 | $400.3M | — | ||
| Q3 24 | $257.3M | — | ||
| Q2 24 | $463.2M | — | ||
| Q1 24 | $968.8M | — |
总债务BLDCF
| Q4 25 | $2.8B | $3.2B | ||
| Q3 25 | $2.9B | $3.0B | ||
| Q2 25 | $1.9B | $3.0B | ||
| Q1 25 | $1.4B | $3.0B | ||
| Q4 24 | $1.4B | $3.0B | ||
| Q3 24 | $1.4B | $3.0B | ||
| Q2 24 | $1.4B | $3.0B | ||
| Q1 24 | $1.4B | $3.0B |
股东权益BLDCF
| Q4 25 | $2.3B | $4.8B | ||
| Q3 25 | $2.2B | $4.8B | ||
| Q2 25 | $2.1B | $5.0B | ||
| Q1 25 | $2.1B | $4.8B | ||
| Q4 24 | $2.2B | $5.0B | ||
| Q3 24 | $2.1B | $5.2B | ||
| Q2 24 | $2.4B | $5.5B | ||
| Q1 24 | $2.7B | $5.4B |
总资产BLDCF
| Q4 25 | $6.6B | $14.1B | ||
| Q3 25 | $6.4B | $14.2B | ||
| Q2 25 | $5.1B | $13.8B | ||
| Q1 25 | $4.6B | $13.3B | ||
| Q4 24 | $4.7B | $13.5B | ||
| Q3 24 | $4.7B | $13.8B | ||
| Q2 24 | $4.9B | $13.8B | ||
| Q1 24 | $5.3B | $13.9B |
负债/权益比BLDCF
| Q4 25 | 1.23× | 0.66× | ||
| Q3 25 | 1.29× | 0.61× | ||
| Q2 25 | 0.88× | 0.60× | ||
| Q1 25 | 0.65× | 0.62× | ||
| Q4 24 | 0.62× | 0.60× | ||
| Q3 24 | 0.66× | 0.57× | ||
| Q2 24 | 0.59× | 0.54× | ||
| Q1 24 | 0.52× | 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 | $176.7M | $539.0M |
| 自由现金流经营现金流 - 资本支出 | $159.4M | $313.0M |
| 自由现金流率自由现金流/营收 | 10.7% | 16.7% |
| 资本支出强度资本支出/营收 | 1.2% | 12.1% |
| 现金转化率经营现金流/净利润 | 1.69× | 1.09× |
| 过去12个月自由现金流最近4个季度 | $696.9M | $1.8B |
8季度趋势，按日历期对齐
经营现金流BLDCF
| Q4 25 | $176.7M | $539.0M | ||
| Q3 25 | $233.3M | $1.1B | ||
| Q2 25 | $193.7M | $563.0M | ||
| Q1 25 | $152.6M | $586.0M | ||
| Q4 24 | $266.2M | $420.0M | ||
| Q3 24 | $240.7M | $931.0M | ||
| Q2 24 | $90.4M | $475.0M | ||
| Q1 24 | $178.8M | $445.0M |
自由现金流BLDCF
| Q4 25 | $159.4M | $313.0M | ||
| Q3 25 | $216.2M | $717.0M | ||
| Q2 25 | $182.2M | $318.0M | ||
| Q1 25 | $139.2M | $454.0M | ||
| Q4 24 | $253.7M | $223.0M | ||
| Q3 24 | $219.8M | $792.0M | ||
| Q2 24 | $74.3M | $391.0M | ||
| Q1 24 | $158.9M | $347.0M |
自由现金流率BLDCF
| Q4 25 | 10.7% | 16.7% | ||
| Q3 25 | 15.5% | 43.2% | ||
| Q2 25 | 14.0% | 16.8% | ||
| Q1 25 | 11.3% | 27.3% | ||
| Q4 24 | 19.3% | 14.6% | ||
| Q3 24 | 16.0% | 57.8% | ||
| Q2 24 | 5.4% | 24.9% | ||
| Q1 24 | 12.4% | 23.6% |
资本支出强度BLDCF
| Q4 25 | 1.2% | 12.1% | ||
| Q3 25 | 1.2% | 20.9% | ||
| Q2 25 | 0.9% | 13.0% | ||
| Q1 25 | 1.1% | 7.9% | ||
| Q4 24 | 1.0% | 12.9% | ||
| Q3 24 | 1.5% | 10.1% | ||
| Q2 24 | 1.2% | 5.3% | ||
| Q1 24 | 1.6% | 6.7% |
现金转化率BLDCF
| Q4 25 | 1.69× | 1.09× | ||
| Q3 25 | 1.64× | 2.31× | ||
| Q2 25 | 1.28× | 1.14× | ||
| Q1 25 | 1.24× | 1.67× | ||
| Q4 24 | 1.77× | 1.07× | ||
| Q3 24 | 1.42× | 2.73× | ||
| Q2 24 | 0.60× | 0.94× | ||
| Q1 24 | 1.17× | 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
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
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% |
