vs
塞拉尼斯（CE）与欧文斯科宁（OC）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是欧文斯科宁的1.0倍（$2.2B vs $2.1B），塞拉尼斯净利率更高（0.6% vs -13.9%，领先14.5%），塞拉尼斯同比增速更快（-7.0% vs -24.6%），欧文斯科宁自由现金流更多（$333.0M vs $168.0M），过去两年欧文斯科宁的营收复合增速更高（-3.5% vs -8.1%）
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
欧文斯科宁是美国知名建材及复合材料企业，1935年由康宁玻璃厂与欧文斯-伊利诺伊公司合资组建。主营保温材料、屋面材料、玻璃纤维复合材料及相关产品，是全球最大的玻璃纤维复合材料生产商，全球员工约1.9万人，自1955年《财富》500强榜单创立以来连年上榜。
CE vs OC — 直观对比
营收规模更大
CE
是对方的1.0倍
$2.1B
营收增速更快
CE
高出17.6%
-24.6%
净利率更高
CE
高出14.5%
-13.9%
自由现金流更多
OC
多$165.0M
$168.0M
两年增速更快
OC
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $2.1B |
| 净利润 | $14.0M | $-298.0M |
| 毛利率 | 19.1% | 23.2% |
| 营业利润率 | 4.0% | -10.5% |
| 净利率 | 0.6% | -13.9% |
| 营收同比 | -7.0% | -24.6% |
| 净利润同比 | 100.7% | -15.5% |
| 每股收益（稀释后） | $0.13 | $-3.47 |
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CEOC
| Q4 25 | $2.2B | $2.1B | ||
| Q3 25 | $2.4B | $2.7B | ||
| Q2 25 | $2.5B | $2.7B | ||
| Q1 25 | $2.4B | $2.5B | ||
| Q4 24 | $2.4B | $2.8B | ||
| Q3 24 | $2.6B | $3.0B | ||
| Q2 24 | $2.7B | $2.8B | ||
| Q1 24 | $2.6B | $2.3B |
净利润CEOC
| Q4 25 | $14.0M | $-298.0M | ||
| Q3 25 | $-1.4B | $-494.0M | ||
| Q2 25 | $199.0M | $363.0M | ||
| Q1 25 | $-21.0M | $-93.0M | ||
| Q4 24 | $-1.9B | $-258.0M | ||
| Q3 24 | $116.0M | $321.0M | ||
| Q2 24 | $155.0M | $285.0M | ||
| Q1 24 | $121.0M | $299.0M |
毛利率CEOC
| Q4 25 | 19.1% | 23.2% | ||
| Q3 25 | 21.5% | 28.2% | ||
| Q2 25 | 21.1% | 31.2% | ||
| Q1 25 | 19.9% | 28.7% | ||
| Q4 24 | 22.7% | 28.1% | ||
| Q3 24 | 23.5% | 29.8% | ||
| Q2 24 | 24.2% | 31.1% | ||
| Q1 24 | 21.2% | 29.6% |
营业利润率CEOC
| Q4 25 | 4.0% | -10.5% | ||
| Q3 25 | -52.7% | -12.2% | ||
| Q2 25 | 9.2% | 18.4% | ||
| Q1 25 | 7.0% | 16.1% | ||
| Q4 24 | -59.3% | -8.5% | ||
| Q3 24 | 9.4% | 16.7% | ||
| Q2 24 | 9.4% | 16.4% | ||
| Q1 24 | 8.0% | 17.5% |
净利率CEOC
| Q4 25 | 0.6% | -13.9% | ||
| Q3 25 | -56.1% | -18.4% | ||
| Q2 25 | 7.9% | 13.2% | ||
| Q1 25 | -0.9% | -3.7% | ||
| Q4 24 | -80.8% | -9.1% | ||
| Q3 24 | 4.4% | 10.5% | ||
| Q2 24 | 5.8% | 10.2% | ||
| Q1 24 | 4.6% | 13.0% |
每股收益（稀释后）CEOC
| Q4 25 | $0.13 | $-3.47 | ||
| Q3 25 | $-12.39 | $-5.92 | ||
| Q2 25 | $1.81 | $4.25 | ||
| Q1 25 | $-0.19 | $-1.08 | ||
| Q4 24 | $-17.50 | $-2.92 | ||
| Q3 24 | $1.06 | $3.65 | ||
| Q2 24 | $1.41 | $3.24 | ||
| Q1 24 | $1.10 | $3.40 |
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 | — | $345.0M |
| 总债务越低越好 | $11.4B | $4.7B |
| 股东权益账面价值 | $4.0B | $3.9B |
| 总资产 | $21.7B | $13.0B |
| 负债/权益比越低杠杆越低 | 2.81× | 1.22× |
8季度趋势，按日历期对齐
现金及短期投资CEOC
| Q4 25 | — | $345.0M | ||
| Q3 25 | — | $286.0M | ||
| Q2 25 | — | $230.0M | ||
| Q1 25 | — | $400.0M | ||
| Q4 24 | — | $361.0M | ||
| Q3 24 | — | $499.0M | ||
| Q2 24 | — | $254.0M | ||
| Q1 24 | — | $1.3B |
总债务CEOC
| Q4 25 | $11.4B | $4.7B | ||
| Q3 25 | $11.7B | $4.7B | ||
| Q2 25 | $12.7B | $5.1B | ||
| Q1 25 | $12.4B | $5.0B | ||
| Q4 24 | $11.1B | $5.1B | ||
| Q3 24 | $11.3B | $5.0B | ||
| Q2 24 | $11.1B | $5.0B | ||
| Q1 24 | $11.0B | $2.6B |
股东权益CEOC
| Q4 25 | $4.0B | $3.9B | ||
| Q3 25 | $4.0B | $4.4B | ||
| Q2 25 | $5.3B | $5.2B | ||
| Q1 25 | $5.2B | $4.9B | ||
| Q4 24 | $5.2B | $5.1B | ||
| Q3 24 | $7.3B | $5.6B | ||
| Q2 24 | $7.2B | $5.5B | ||
| Q1 24 | $7.1B | $5.2B |
总资产CEOC
| Q4 25 | $21.7B | $13.0B | ||
| Q3 25 | $22.2B | $13.5B | ||
| Q2 25 | $23.7B | $14.5B | ||
| Q1 25 | $23.2B | $14.3B | ||
| Q4 24 | $22.9B | $14.1B | ||
| Q3 24 | $25.9B | $15.1B | ||
| Q2 24 | $25.8B | $15.0B | ||
| Q1 24 | $26.0B | $11.3B |
负债/权益比CEOC
| Q4 25 | 2.81× | 1.22× | ||
| Q3 25 | 2.95× | 1.06× | ||
| Q2 25 | 2.41× | 0.98× | ||
| Q1 25 | 2.39× | 1.03× | ||
| Q4 24 | 2.14× | 1.01× | ||
| Q3 24 | 1.56× | 0.89× | ||
| Q2 24 | 1.54× | 0.92× | ||
| Q1 24 | 1.56× | 0.51× |
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 | $252.0M | $590.0M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $333.0M |
| 自由现金流率自由现金流/营收 | 7.6% | 15.5% |
| 资本支出强度资本支出/营收 | 3.8% | 12.0% |
| 现金转化率经营现金流/净利润 | 18.00× | — |
| 过去12个月自由现金流最近4个季度 | $803.0M | $962.0M |
8季度趋势，按日历期对齐
经营现金流CEOC
| Q4 25 | $252.0M | $590.0M | ||
| Q3 25 | $447.0M | $918.0M | ||
| Q2 25 | $410.0M | $327.0M | ||
| Q1 25 | $37.0M | $-49.0M | ||
| Q4 24 | $494.0M | $676.0M | ||
| Q3 24 | $79.0M | $699.0M | ||
| Q2 24 | $292.0M | $493.0M | ||
| Q1 24 | $101.0M | $24.0M |
自由现金流CEOC
| Q4 25 | $168.0M | $333.0M | ||
| Q3 25 | $383.0M | $752.0M | ||
| Q2 25 | $317.0M | $129.0M | ||
| Q1 25 | $-65.0M | $-252.0M | ||
| Q4 24 | $389.0M | $479.0M | ||
| Q3 24 | $-9.0M | $558.0M | ||
| Q2 24 | $187.0M | $336.0M | ||
| Q1 24 | $-36.0M | $-128.0M |
自由现金流率CEOC
| Q4 25 | 7.6% | 15.5% | ||
| Q3 25 | 15.8% | 28.0% | ||
| Q2 25 | 12.5% | 4.7% | ||
| Q1 25 | -2.7% | -10.0% | ||
| Q4 24 | 16.4% | 16.9% | ||
| Q3 24 | -0.3% | 18.3% | ||
| Q2 24 | 7.1% | 12.0% | ||
| Q1 24 | -1.4% | -5.6% |
资本支出强度CEOC
| Q4 25 | 3.8% | 12.0% | ||
| Q3 25 | 2.6% | 6.2% | ||
| Q2 25 | 3.7% | 7.2% | ||
| Q1 25 | 4.3% | 8.0% | ||
| Q4 24 | 4.4% | 6.9% | ||
| Q3 24 | 3.3% | 4.6% | ||
| Q2 24 | 4.0% | 5.6% | ||
| Q1 24 | 5.2% | 6.6% |
现金转化率CEOC
| Q4 25 | 18.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.06× | 0.90× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.68× | 2.18× | ||
| Q2 24 | 1.88× | 1.73× | ||
| Q1 24 | 0.83× | 0.08× |
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
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
OC
| Insulation | $724.0M | 34% |
| Residential | $625.0M | 29% |
| Doors | $427.0M | 20% |
| Discontinued Operations Disposed Of By Sale | $299.0M | 14% |
| Commercial And Industrial Sector | $101.0M | 5% |
