vs
塞拉尼斯（CE）与Primoris Services Corp（PRIM）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Primoris Services Corp的1.2倍（$2.2B vs $1.9B），Primoris Services Corp净利率更高（2.8% vs 0.6%，领先2.1%），Primoris Services Corp同比增速更快（6.7% vs -7.0%），塞拉尼斯自由现金流更多（$168.0M vs $121.1M），过去两年Primoris Services Corp的营收复合增速更高（14.7% 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。
Primoris Services Corp是总部位于美国的上市专业基建与工程建设企业，核心业务覆盖天然气管道、污水管网及供水管道建设领域，2014年入选《财富》1000强榜单，在北美能源及民生基建领域拥有丰富的项目运营经验。
CE vs PRIM — 直观对比
营收规模更大
CE
是对方的1.2倍
$1.9B
营收增速更快
PRIM
高出13.7%
-7.0%
净利率更高
PRIM
高出2.1%
0.6%
自由现金流更多
CE
多$46.9M
$121.1M
两年增速更快
PRIM
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.9B |
| 净利润 | $14.0M | $51.7M |
| 毛利率 | 19.1% | 9.4% |
| 营业利润率 | 4.0% | 4.2% |
| 净利率 | 0.6% | 2.8% |
| 营收同比 | -7.0% | 6.7% |
| 净利润同比 | 100.7% | -4.2% |
| 每股收益（稀释后） | $0.13 | $0.94 |
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CEPRIM
| Q4 25 | $2.2B | $1.9B | ||
| Q3 25 | $2.4B | $2.2B | ||
| Q2 25 | $2.5B | $1.9B | ||
| Q1 25 | $2.4B | $1.6B | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.6B | $1.6B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.6B | $1.4B |
净利润CEPRIM
| Q4 25 | $14.0M | $51.7M | ||
| Q3 25 | $-1.4B | $94.6M | ||
| Q2 25 | $199.0M | $84.3M | ||
| Q1 25 | $-21.0M | $44.2M | ||
| Q4 24 | $-1.9B | $54.0M | ||
| Q3 24 | $116.0M | $58.4M | ||
| Q2 24 | $155.0M | $49.5M | ||
| Q1 24 | $121.0M | $18.9M |
毛利率CEPRIM
| Q4 25 | 19.1% | 9.4% | ||
| Q3 25 | 21.5% | 10.8% | ||
| Q2 25 | 21.1% | 12.3% | ||
| Q1 25 | 19.9% | 10.4% | ||
| Q4 24 | 22.7% | 10.6% | ||
| Q3 24 | 23.5% | 12.0% | ||
| Q2 24 | 24.2% | 11.9% | ||
| Q1 24 | 21.2% | 9.4% |
营业利润率CEPRIM
| Q4 25 | 4.0% | 4.2% | ||
| Q3 25 | -52.7% | 6.3% | ||
| Q2 25 | 9.2% | 6.7% | ||
| Q1 25 | 7.0% | 4.3% | ||
| Q4 24 | -59.3% | 5.0% | ||
| Q3 24 | 9.4% | 6.0% | ||
| Q2 24 | 9.4% | 5.5% | ||
| Q1 24 | 8.0% | 3.1% |
净利率CEPRIM
| Q4 25 | 0.6% | 2.8% | ||
| Q3 25 | -56.1% | 4.3% | ||
| Q2 25 | 7.9% | 4.5% | ||
| Q1 25 | -0.9% | 2.7% | ||
| Q4 24 | -80.8% | 3.1% | ||
| Q3 24 | 4.4% | 3.5% | ||
| Q2 24 | 5.8% | 3.2% | ||
| Q1 24 | 4.6% | 1.3% |
每股收益（稀释后）CEPRIM
| Q4 25 | $0.13 | $0.94 | ||
| Q3 25 | $-12.39 | $1.73 | ||
| Q2 25 | $1.81 | $1.54 | ||
| Q1 25 | $-0.19 | $0.81 | ||
| Q4 24 | $-17.50 | $0.98 | ||
| Q3 24 | $1.06 | $1.07 | ||
| Q2 24 | $1.41 | $0.91 | ||
| Q1 24 | $1.10 | $0.35 |
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 | — | $535.5M |
| 总债务越低越好 | $11.4B | $469.9M |
| 股东权益账面价值 | $4.0B | $1.7B |
| 总资产 | $21.7B | $4.4B |
| 负债/权益比越低杠杆越低 | 2.81× | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资CEPRIM
| Q4 25 | — | $535.5M | ||
| Q3 25 | — | $431.4M | ||
| Q2 25 | — | $390.3M | ||
| Q1 25 | — | $351.6M | ||
| Q4 24 | — | $455.8M | ||
| Q3 24 | — | $352.7M | ||
| Q2 24 | — | $207.4M | ||
| Q1 24 | — | $177.6M |
总债务CEPRIM
| Q4 25 | $11.4B | $469.9M | ||
| Q3 25 | $11.7B | $486.0M | ||
| Q2 25 | $12.7B | $603.1M | ||
| Q1 25 | $12.4B | $612.0M | ||
| Q4 24 | $11.1B | $734.8M | ||
| Q3 24 | $11.3B | $903.7M | ||
| Q2 24 | $11.1B | $933.0M | ||
| Q1 24 | $11.0B | $951.7M |
股东权益CEPRIM
| Q4 25 | $4.0B | $1.7B | ||
| Q3 25 | $4.0B | $1.6B | ||
| Q2 25 | $5.3B | $1.5B | ||
| Q1 25 | $5.2B | $1.4B | ||
| Q4 24 | $5.2B | $1.4B | ||
| Q3 24 | $7.3B | $1.4B | ||
| Q2 24 | $7.2B | $1.3B | ||
| Q1 24 | $7.1B | $1.2B |
总资产CEPRIM
| Q4 25 | $21.7B | $4.4B | ||
| Q3 25 | $22.2B | $4.6B | ||
| Q2 25 | $23.7B | $4.5B | ||
| Q1 25 | $23.2B | $4.2B | ||
| Q4 24 | $22.9B | $4.2B | ||
| Q3 24 | $25.9B | $4.2B | ||
| Q2 24 | $25.8B | $4.0B | ||
| Q1 24 | $26.0B | $4.0B |
负债/权益比CEPRIM
| Q4 25 | 2.81× | 0.28× | ||
| Q3 25 | 2.95× | 0.30× | ||
| Q2 25 | 2.41× | 0.39× | ||
| Q1 25 | 2.39× | 0.42× | ||
| Q4 24 | 2.14× | 0.52× | ||
| Q3 24 | 1.56× | 0.67× | ||
| Q2 24 | 1.54× | 0.72× | ||
| Q1 24 | 1.56× | 0.76× |
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 | $142.9M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $121.1M |
| 自由现金流率自由现金流/营收 | 7.6% | 6.5% |
| 资本支出强度资本支出/营收 | 3.8% | 1.2% |
| 现金转化率经营现金流/净利润 | 18.00× | 2.76× |
| 过去12个月自由现金流最近4个季度 | $803.0M | $340.5M |
8季度趋势，按日历期对齐
经营现金流CEPRIM
| Q4 25 | $252.0M | $142.9M | ||
| Q3 25 | $447.0M | $182.9M | ||
| Q2 25 | $410.0M | $78.5M | ||
| Q1 25 | $37.0M | $66.2M | ||
| Q4 24 | $494.0M | $298.3M | ||
| Q3 24 | $79.0M | $222.5M | ||
| Q2 24 | $292.0M | $16.1M | ||
| Q1 24 | $101.0M | $-28.5M |
自由现金流CEPRIM
| Q4 25 | $168.0M | $121.1M | ||
| Q3 25 | $383.0M | $148.4M | ||
| Q2 25 | $317.0M | $45.3M | ||
| Q1 25 | $-65.0M | $25.6M | ||
| Q4 24 | $389.0M | $270.0M | ||
| Q3 24 | $-9.0M | $158.8M | ||
| Q2 24 | $187.0M | $-8.1M | ||
| Q1 24 | $-36.0M | $-38.9M |
自由现金流率CEPRIM
| Q4 25 | 7.6% | 6.5% | ||
| Q3 25 | 15.8% | 6.8% | ||
| Q2 25 | 12.5% | 2.4% | ||
| Q1 25 | -2.7% | 1.6% | ||
| Q4 24 | 16.4% | 15.5% | ||
| Q3 24 | -0.3% | 9.6% | ||
| Q2 24 | 7.1% | -0.5% | ||
| Q1 24 | -1.4% | -2.8% |
资本支出强度CEPRIM
| Q4 25 | 3.8% | 1.2% | ||
| Q3 25 | 2.6% | 1.6% | ||
| Q2 25 | 3.7% | 1.8% | ||
| Q1 25 | 4.3% | 2.5% | ||
| Q4 24 | 4.4% | 1.6% | ||
| Q3 24 | 3.3% | 3.9% | ||
| Q2 24 | 4.0% | 1.5% | ||
| Q1 24 | 5.2% | 0.7% |
现金转化率CEPRIM
| Q4 25 | 18.00× | 2.76× | ||
| Q3 25 | — | 1.93× | ||
| Q2 25 | 2.06× | 0.93× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 5.53× | ||
| Q3 24 | 0.68× | 3.81× | ||
| Q2 24 | 1.88× | 0.32× | ||
| Q1 24 | 0.83× | -1.50× |
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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
